Daily Current Affairs November 16 2023 | Latest News | Download PDF

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CURRENT AFFAIRS: NATIONAL NEWS

Union Minister Anupriya Patel inaugurates the 42nd edition of India International Trade Fair 2023 in New Delhi

The 42nd edition of the India International Trade Fair -2023 was inaugurated at Pragati Maidan in New Delhi.
The fair will continue till 27th November.
Inaugurating the Trade Fair, Minister of State for Commerce and Industry Anupriya Patel, that the participation of over 3500 exhibitors shows the confidence of the world in India.
The 42nd edition of the India International Trade Fair will facilitate trade and investment which will further promote economic growth and development of the country.
India is the most attractive destination for investment and the country is set to become the 3rd largest economy in the coming times.
In the last 10 years, the government has made several policy interventions to create an industry environment.
The fair will remain meaningful in creating awareness of various social issues and in providing impetus to business transactions, joint ventures, and investment opportunities in the country.
The theme of the fourteen-day fair is Vasudhaiva Kutumbakam which emphasizes the significance of interconnectedness and cooperation in trade for achieving sustainable growth and well-being.
The first five days of the Trade Fair will be reserved for the business category and it will open for the general public from the 19th of this month. Bihar and Kerala are the Partner States while Delhi, Jammu and Kashmir, Jharkhand, Maharashtra, and Uttar Pradesh are the Focus States.
The representatives from 13 countries are also participating in the fair.

Ministry of Coal to Launch 8th Round of Commercial Coal Mines Auctions

The Ministry of Coal will launch the 8th Round of Commercial Coal Mines Auction
A total of 39 Mines of five states are to be offered in this round of auction.
These States are Bihar, Jharkhand, Maharashtra, Odisha and West Bengal.
The Coal sector opened for Commercial Coal Mining in 2020, with the first-ever successful auctions of Commercial Mining launched by Prime Minister Narendra Modi in June, 2020.
Since then, the Ministry of Coal has conducted seven rounds of Commercial Coal Mining auctions, and 91 mines have been auctioned, with peak rated capacity of 221 Million Ton per annum.
The launch of this round of commercial coal mining auctions is a significant step towards promoting private sector participation in the coal mining industry and increasing coal production.

Prime Minister Shri Narendra Modi inaugurates Viksit Bharat Yatra from Khunti, Jharkhand to ensure saturation of flagship government schemes

Prime Minister Shri Narendra Modi released the 15th instalment of over Rs 18,000 crore under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme from Khunti, Jharkhand.
This significant release aims to provide financial support to farmers across the country.
The instalment was released on the birthday of the ‘father of the land’ Shri Bhagwan Birsa Munda, which is celebrated as the JanJaatiya Gaurav Divas every year.
On the occasion, PM Modi launched the PM Janjati Adivasi Nyaya Maha Abhiyan, an initiative with a budget of Rs 24,000 crore, aimed at ensuring holistic development of tribal groups.
On the foundation day of Jharkhand, Shri Modi also laid the foundation stone and dedicated to the nation multiple development projects in Jharkhand worth Rs 7200 crores in multiple sectors like rail, road, Education, Coal, Petroleum and Natural Gas.
Upon arrival at the venue, the Prime Minister was warmly welcomed by tribal artists.
Thousands of enthusiastic farmers attended the event, and many more participated online. Governor of Jharkhand, Shri C. P. Radhakrishnan, Chief Minister of Jharkhand, Shri Hemant Soren, and Union Minister for Tribal Affairs, Shri Arjun Munda were present on the occasion among others.

India’s Red Sanders removed from the CITES trade review

The Union Minister for Environment, Forest and Climate Change informed that India has been removed from Review of Significant Trade (RST) for Red Sanders, under the Convention on International Trade in Endangered Species (CITES).
India has been under the Review of Significant Trade (RST) process for Red Sanders since 2004.
The CITES RST process enables disciplinary action in the form of trade suspensions directed at countries that do not meet their obligations.
The decision was taken at the 77th meeting of the Standing Committee of Convention on International Trade in Endangered Species of Wild Fauna and flora (CITES) held in Geneva from November 6 to 10.
Red Sanders is a flora species that are endemic to a distinct tract of forests in the Eastern Ghats region of Andhra Pradesh.

About CITES

CITES is an international agreement to which States and regional economic integration organizations adhere voluntarily.
It was drafted as a result of a resolution adopted in 1963 at a meeting of members of IUCN (The World Conservation Union).
It entered into force in July 1975.
Aim: To ensure that international trade in specimens of wild animals and plants does not threaten the survival of the species.
The CITES Secretariat is administered by UNEP and is located in Geneva, Switzerland.
The Conference of the Parties to CITES is the supreme decision-making body of the Convention and comprises all its parties.
India has been a party to CITES since 1976.
The CITES provides that every Party align its national legislation to accommodate CITES provisions. India was listed in Category 2 for CITES National Legislation programme.
The CITES Standing Committee has in its 77th meeting decided to place India in Category 1 as it had fully complied with the requirements of CITES National Legislation programme.

7 changes in Senior Citizens Savings Scheme rules: More people can invest, more time for retirees, stricter penalty

The Finance Ministry has introduced changes to the Senior Citizen Savings Scheme in a notification dated 7 November.
The Centre has allowed the spouses of the deceased government employees to open Senior Citizen Saving Scheme (SCSS) accounts.
Earlier, the spouses of deceased government employees were not allowed to open SCSS accounts.
The spouse of the government employee can open an account under the scheme, if the government employee who has attained the age of 50 years has died in harness.
All Central and State Government employees are included in government employees here.
They are eligible for retirement benefit or death compensation.
The account can be opened within three months from the date of receipt of the retirement benefits for a living employee.
The account can be opened within three months from the date of receipt of admissible financial assistance to an eligible government employee who died in harness.
This time limit was earlier one month and that too only for living person.
As per the new rules, one percent of the deposit will be deducted if the account is closed before the expiry of one year of the investment.
An account holder can extend the account for a further block period of three years within one year from the date of maturity or from the date of end of each block period of three years.
This was earlier to be used only once.
Through the Budget, maximum deposit limit for Senior Citizen Savings Scheme was increased from ₹15 lakh to from ₹30 lakh.
Increased maximum deposit limit has been made effective from April 1, 2023.

About SCSS:

Senior Citizen Savings Scheme (SCSS) is a savings scheme supported by the government.
It is available to individuals aged 60 years or older, or those who have retired at the age of 55 years or above.
Under this scheme, account can be opened with a minimum amount of ₹1,000 and a maximum of ₹30 lakh.
The SCSS offers 8.2 % per annum interest rate. The tenure of the scheme is five years. It can be extended.
In the Public Provident Fund Scheme, 2019, in paragraph 13, in the second proviso, for the words “or the date of extension of the account”, the words “or from the date of commencement of the current block period of five years” shall be substituted.
This means that the interest will be allowed in the account at a rate that will be 1% less than the interest that has been periodically credited to the account from the date of commencement of the current block period of five years.
Premature withdrawal penalty of post office FD
If a deposit in a five-year account is withdrawn prematurely after four years from the date of account opening, interest at the Post Office Savings Account rate of 4%.
Earlier, if a five-year time deposit account is closed after four years from the date of deposit, the rate applicable to three-year time deposit accounts will be used to calculate interest.

CURRENT AFFAIRS: INTERNATIONAL NEWS

33rd Conference of WOAH Regional Commission explores ways to fight infectious animal disease

The 33rd Conference of the World Organisation for Animal Health (WOAH) Regional Commission for Asia and Pacific started in New Delhi.
Delegates from 36 countries are participating in the conference.
Senior officers from regional and international organizations and representatives from the private sector and private veterinary organizations are participating in the conference.
It is scheduled to be organized from November 13 to 16, 2023.
As per the World Organisation for Animal Health, 69 % of the human infections originate from the animals.
MoS Dr L Murugan said that the Fisheries sector is playing a major role in the social economic as well as the nutritional requirement of protein.
This contributes to 1% of the national GDP and 5.37 % of Agri GDP.
This has increased demand in the fields of food safety, public health, animal welfare and antimicrobial resistance.
The government is establishing mobile veterinary units to provide high-quality veterinary services to farmers.
The Government of India is also implementing a livestock health and disease control programme under the One Health Approach.

About WOAH

WOAH is an intergovernmental organization located in Paris, France, that was founded in 1924 to fulfil six main missions: To ensure transparency on global animal diseases.
To collect, analyse and disseminate veterinary scientific information. To encourage international solidarity in the control of animal diseases.
Headquarters: Paris

CURRENT AFFAIRS: STATE NEWS

Uttarakhand is set to become the first state to implement a Uniform Civil Code

Uttarakhand will become the first state to implement the Uniform Civil Code.
The Uttarakhand government is likely to convene a special session of the legislative assembly.
The Uniform Civil Code bill is likely to pass in this special session and after that, it will get the legal status.
The drafting of the UCC for Uttarakhand has been completed and will be submitted to the state government soon.
The Uttarakhand government had on May 27, 2022, set up the expert committee for the implementation of the UCC and to check all relevant laws that control personal citizen matters for people living in the state.
The five-member committee, led by former Supreme Court judge, Justice Ranjana Prakash Desai, is expected to hand over its report to the government soon.
The Uniform Civil Code is mentioned in Article 44 of the Constitution.
The Uniform Civil Code are set of laws that deals with marriage, divorce, inheritance, and adoption, among other personal matters which apply to all citizens equally regardless of their religion.
In the Shah Bano case in 1985, the Supreme Court ruled that “Parliament should outline the contours of a common civil code as it is an instrument that facilitates national harmony and equality before the law.”
Gujarat is also planning to implement the Uniform Civil Code before the 2024 Lok Sabha.

CURRENT AFFAIRS: BUSINESS NEWS

India’s overall exports in October 2023 were estimated at USD 62.26 Billion; an increase of 9.43 percent over USD 56.90 Billion in October 2022.

India’s overall exports (Merchandise and Services combined) in October 2023 are estimated to be USD 62.26 Billion, exhibiting a positive growth of 9.43 per cent over October 2022.
Overall imports in October 2023* is estimated to be USD 79.35 Billion, exhibiting a positive growth of 11.10 per cent over October 2022.

Trade during October 2023

		October 2023 (USD Billion)	October 2022 (USD Billion)
Merchandise	Exports	33.57	31.60
Merchandise	Imports	65.03	57.91
Services*	Exports	28.70	25.30
Services*	Imports	14.32	13.51
Overall Trade (Merchandise +Services) *	Exports	62.26	56.90
	Imports	79.35	71.42
	Trade Balance	-17.08	-14.52

India’s overall exports (Merchandise and Services combined) in April-October 2023* are estimated to be USD 437.54 Billion, exhibiting a negative growth of (-) 1.61 per cent over April-October 2022.
Overall imports in April-October 2023* are estimated to be USD 495.17 Billion, exhibiting a negative growth of (-) 7.37 per cent over April-October 2022.

MERCHANDISE TRADE

Merchandise exports in October 2023 were USD 33.57 Billion, as compared to USD 31.60 Billion in October 2022.
Merchandise imports in October 2023 were USD 65.03 Billion, as compared to USD 57.91 Billion in October 2022.
Merchandise exports for the period April-October 2023 were USD 244.89 Billion as against USD 263.33 Billion during April-October 2022.
Merchandise imports for the period April-October 2023 were USD 391.96 Billion as against USD 430.47 Billion during April-October 2022.
The merchandise trade deficit for April-October 2023 was estimated at USD 147.07 Billion as against USD 167.14 Billion during April-October 2022.
Non-petroleum and non-gems & jewellery exports in October 2023 were USD 24.57 Billion, compared to USD 21.99 Billion in October 2022.
Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in October 2023 were USD 36.87 Billion, compared to USD 35.12 Billion in October 2022.

SERVICES TRADE

The estimated value of services export for October 2023* is USD 28.70 Billion, as compared to USD 25.30 Billion in October 2022.
The estimated value of services import for October 2023* is USD 14.32 Billion as compared to USD 13.51 Billion in October 2022.
The estimated value of services export for April-October 2023* is USD 192.65 Billion as compared to USD 181.37 Billion in April-October 2022.
The estimated value of services imports for April-October 2023* is USD 103.22 Billion as compared to USD 104.09 Billion in April-October 2022.
The services trade surplus for April-October 2023* is estimated at USD 89.43 Billion as against USD 77.28 Billion in April-October 2022.

CURRENT AFFAIRS: MOUS AND AGREEMENT

MoU between India and USA to Enhance Innovation Ecosystems through an Innovation Handshake under the framework of India – U.S. Commercial Dialogue

A Memorandum of Understanding (MoU) on “Enhancing Innovation Ecosystems through an Innovation Handshake” under the framework of India – U.S. Commercial Dialogue was signed between the two countries on the 14th of November 2023 in San Francisco.
The leaders’ Joint Statement during the historic official State Visit of Prime Minister in June 2023 announced the establishment of the “Innovation Handshake”.
The MoU was signed at the kick-off industry roundtable titled, “Decoding the “Innovation Handshake”: U.S. – India Entrepreneurship Partnership” in San Francisco.
At the event, co-hosted by the U.S.-India Business Council (USIBC) and the Confederation of Indian Industry (CII) and supported by National Association of Software and Service Companies (NASSCOM) and Startup India, CEOs from major ICT companies, executives from venture capital firms, and founders of startups in the critical and emerging technology space discussed how to enhance U.S.-India technology collaboration.

Key Highlights:

The MoU is signed with the objective to connect the two sides’ dynamic startup ecosystems, address specific regulatory hurdles to cooperation, share information and best practices for startup fundraising and promote innovation and job growth, particularly in critical and emerging technologies (CET) as identified under India -U.S. initiative for Critical and Emerging Technology (iCET).
The MoU signals a joint commitment to strengthen the startup ecosystem in deep tech sectors and promote cooperation in Critical and Emerging Technologies (CET). It is poised to positively impact economic activity, attract investment, and generate employment, especially in start-ups working in CET areas.
The scope of cooperation would include a series of India- U.S. Innovation Handshake events, including hackathon and “Open Innovation” programs, information sharing and other activities.
The announcement laid the groundwork for two future Innovation Handshake events scheduled to take place in India and the United States in early 2024, which include an investment forum aimed toward helping U.S. and Indian startup companies take their innovative ideas and products to market and a “hackathon” in Silicon Valley where U.S. and Indian startups will pitch ideas and technologies to help address global economic challenges.
This momentous step signifies the commitment of both nations towards fostering innovation, creating opportunities, and promoting mutual growth in the dynamic field of emerging technologies. The “Innovation Handshake” sets the stage for a new era of collaboration between the United States and India.
The Commercial Dialogue (CD) is a cooperative undertaking at Ministerial level between India and the U.S. to facilitate regular discussion to deepen ties between business communities, encompassing regular government-to-government meetings to be held in conjunction with private sector meetings, with an aim to facilitate trade, and maximize investment opportunities across a broad range of economic sectors.
The 5th India-U.S. Commercial Dialogue was held on 10th March 2023 during the visit of U.S. Secretary of Commerce Gina Raimondo between 8-10 March. At the meeting the Commercial Dialogue was re-launched with strategic focus on supply chain resiliency, climate and clean technology cooperation, advancing inclusive digital economy, and facilitating post-pandemic economic recovery especially for SMEs and startups.
It included the launch of a new Working Group on Talent, Innovation and Inclusive Growth (TIIG) under the Commercial Dialogue. It was noted that this Working Group would also support efforts of Startups working towards goals of iCET, particularly in identifying specific regulatory hurdles to cooperation and fostering greater connectivity between our innovation ecosystems with a focus on start-ups through specific ideas for joint activities.

CURRENT AFFAIRS: RANKING AND INDEX

India ranked 117th among 129 nations in the inclusiveness index by the US varsity

India is ranked 117th in the list of 129 countries in the world in the inclusiveness index published by the Othering and Belonging Institute (OBI) at California University, United States.
Smaller countries like Bangladesh (106) and Israel (115) were placed better than India.
The index examines inclusivity in terms of race, religion, gender, sexual orientation, disability, and the general population using several measures.
India was ranked last (129) in religion inclusiveness, 121st in gender, 108th in disability, 87th in race, 40th in the general population, and 39th in LGBTQ.
New Zealand finished first in the index for the second consecutive year.
Portugal recorded its best showing by securing second place (up from 5th place in 2022) followed by the Netherlands in the third place.
Iran was placed at the bottom of the global list. Yemen, which has been devastated by the Saudi-led invasion performed poorly followed by the Comoros Islands, a former French colony located off the southeastern coast of Africa.
OBI has been publishing the inclusiveness index from 2016 ranking the countries by their levels of inclusion using a number of indicators.
This year for the first time, OBI included an indicator for a country’s response to the climate crisis by considering its change in greenhouse gas emissions.

India is likely to become the second largest solar module manufacturer by 2025: Wood Mackenzie.

In its latest report, Wood Mackenzie has forecasted that India will overtake Southeast Asia as the second-largest module production region by 2025.
Wood Mackenzie said this will be driven by India’s strong PLI incentives.
It added India and the US have announced over 200 gigawatts (GW) of planned module capacity since 2022.
Earlier, ICRA said India’s solar photovoltaic (PV) module manufacturing capacity to increase to more than 60 GW by 2025 from the current level of around 37 GW.
The International Energy Agency (IEA) in a report last month said that India’s domestic production capacity can surpass 70 GW by 2027.
According to the IEA, solar manufacturing currently is concentrated in five countries accounting for more than 90% of global capacity.
These five countries are China (80% of the global market), Vietnam, (5%), India (3%), Malaysia (3%) and Thailand (2%).
India accounts for 3% of the global solar manufacturing market.
Wood Mackenzie is a global consultancy firm for renewables, energy and natural resources.

CURRENT AFFAIRS: DEFENCE NEWS

Indian Air Force to organize air show on Nov 23-24 at Air Force Station in Ambala Cantonment

Indian Air Force will organize an air show on November 23-24 at Air Force Station in Ambala Cantonment.
Surya Kiran and Akashganga teams will showcase their skills in the sky alongside the aircrafts of the Indian Air Force.
The Indian Air Force has made all necessary arrangements for the air show.
Regarding security, he said that orders have already been issued under Section 144 to prohibit the flying of drones near the Air Force station.

Defence Minister Rajnath Singh to attend 10th ASEAN Defence Ministers’ Meeting-Plus in Jakarta

Defence Minister Rajnath Singh will attend the 10th ASEAN Defence Ministers’ Meeting-Plus (ADMM plus) in Jakarta, Indonesia, from 16th of November to 17th of November, the Ministry of Defence.
On the sidelines of the ASEAN Defence Ministers’ meet, Singh will also have bilateral meetings with the Defence Ministers of participating countries.
During these sessions, the Minister will discuss issues related to defence cooperation.
On the first day of the meeting, the Defence Minister will address the forum on regional and international security issues.
According to the Defence Ministry release, the ADMM is the highest defence consultative and cooperative mechanism in ASEAN.
Since 2017, the ADMM-Plus Ministers have been meeting annually to bolster cooperation between ASEAN and the Plus countries.
Indonesia is hosting the meeting as it is the chair of ADMM-Plus.

CURRENT AFFAIRS: IMPORTANT DAYS

International Day for Tolerance: 16th November

International Day for Tolerance 2023 is observed on the 16th of November 2023.
In 1993, at the initiative of UNESCO, the United Nations proclaimed 1995 as “The Year for Tolerance”.
UNESCO’s 1995 Declaration of Principles on Tolerance was that tolerance is respect, acceptance, and appreciation of the rich diversity of our world’s cultures, our forms of expression, and our ways of being human.
The United Nations General Assembly decided to celebrate International Day for Tolerance every year.
One year later in 1996, the UN General Assembly decided 16th of November was the International Day for Tolerance and it would be celebrated every year.
For International Day for Tolerance common theme is implemented for all years.
UN works over the common theme.
The Common Theme is “Tolerance is respect, acceptance, and appreciation of the rich diversity of our world’s cultures, forms of expression, and ways of being human”

Daily CA One- Liner: November 16

The 42nd edition of the India International Trade Fair -2023 was inaugurated at Pragati Maidan in New Delhi
The Ministry of Coal will launch the 8th Round of Commercial Coal Mines Auction.
Prime Minister Shri Narendra Modi released the 15th instalment of over Rs 18,000 crore under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme from Khunti, Jharkhand
The Union Minister for Environment, Forest and Climate Change informed that India has been removed from Review of Significant Trade (RST) for Red Sanders, under the Convention on International Trade in Endangered Species
The Finance Ministry has introduced changes to the Senior Citizen Savings Scheme in a notification dated 7 November
The 33rd Conference of the World Organisation for Animal Health (WOAH) Regional Commission for Asia and Pacific started in New Delhi.
Uttarakhand will become the first state to implement the Uniform Civil Code.
India’s overall exports (Merchandise and Services combined) in October 2023* is estimated to be USD 62.26 Billion, exhibiting a positive growth of 9.43 per cent over October 2022
A Memorandum of Understanding (MoU) on “Enhancing Innovation Ecosystems through an Innovation Handshake” under the framework of India – U.S. Commercial Dialogue was signed between the two countries on the 14th of November 2023 in San Francisco.
India is ranked 117th in the list of 129 countries in the world in the inclusiveness index published by the Othering and Belonging Institute (OBI) at California University, United States
In its latest report, Wood Mackenzie has forecasted that India will overtake Southeast Asia as the second-largest module production region by 2025.
Indian Air Force will organize an air show on November 23-24 at Air Force Station in Ambala Cantonment
Defence Minister Rajnath Singh will attend the 10th ASEAN Defence Ministers’ Meeting-Plus (ADMM plus) in Jakarta, Indonesia, from 16th of November to 17th of November, the Ministry of Defence.
International Day for Tolerance 2023 is observed on the 16th of November 2023

This post was last modified on December 31, 2023 8:17 pm

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