This is the current affairs of 17 February 2024. Here are questions and answers of daily current affairs for better preparation of competitive exams for government jobs.
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1. Which country overtook Japan to become the world’s third largest economy?
a. India
b. Germany
c. France
d. Brazil
Answer: b. Germany
– Japan’s economy has unexpectedly contracted, leading the country towards recession.
– Japan has slipped behind Germany in terms of being the world’s third-largest economy.
– According to government figures, in the final quarter of 2023, it fell behind Germany in terms of the size of its economy.
– Total domestic production in Japan shrank at an annual rate of 0.4 percent in the last three months of 2023.
Japan:
– Capital – Tokyo
– Emperor – Naruhito
– Prime Minister – Fumio Kishida
– Currency – Japanese Yen
– Population – 125 million
Top 5 Economies:
1- USA
2- China
3- Germany
4- Japan
5- India
Germany:
Capital – Berlin
Chancellor – Olaf Scholz
Currency – Euro
The reasons for falling behind Germany are as follows:
– Currency depreciation: There was a depreciation of more than 18% in the yen against the dollar in 2022 and 2023, making it easier for Germany to excel due to the stability of the euro against the dollar.
– Economic slowdown in Japan: Japan’s technical recession, marked by consecutive quarters of economic contraction, contributed to falling behind Germany in GDP rankings.
– The country is grappling with an aging population and declining birth rates, which are affecting its economic prospects.
– Japanese consumers have to struggle with inflation to obtain food, fuel, and other goods. Japan imports 94% of its energy needs and 63% of its food items.
– Consequently, the weakening yen has led to inflationary pressures in Japan.
– Detriment from a weak yen: Both Japan and Germany have built their economies through small and medium-sized enterprises. In contrast to Japan, Germany took solid economic steps to deal with a strong euro and currency fluctuations. The weak yen has also been detrimental to Japan.
Until 2010, Japan held the second position:
– In 2010, China surpassed Japan to become the world’s second-largest economy after the United States. Japan slipped to the third position at that time and has now reached the fourth position.
In 2026, India will surpass Japan:
– India is the world’s fifth-largest economy.
– According to the International Monetary Fund (IMF), supported by a large and growing young population, India’s economy is expected to surpass Japan by 2026 and Germany by the following year, 2027.
– India’s youthful population, with a majority under 35 years of age, is driving rapid economic development compared to the aging populations of Japan and Germany.
The world’s two largest economies are facing recession:
– The world’s two largest economies, Britain and Japan, have been caught in the whirlpool of recession.
– Reuters reported on February 15, 2024, that Britain’s economy fell into recession in the second quarter of 2023 before the elections scheduled for the end of 2024.
– In Britain, there has been a 0.3 percent decline in total domestic production (GDP) in the three months leading up to December 2023, which was further weakened by 0.1 percent between July and September.
Japan:
Capital – Tokyo
Emperor – Naruhito
Prime Minister – Fumio Kishida
Currency – Japanese Yen
Population – 125 million
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2. Who became the new Speaker of Bihar Assembly?
a. Tejashwi Yadav
b. Nand Kishore Yadav
c. Awadh Bihari Chaudhary
d. Rakesh Pratap Verma
Answer: b. Nand Kishore Yadav
– Nand Kishor Yadav, a senior leader of the BJP and former minister, has been unanimously elected as the new Speaker of the Bihar Legislative Assembly.
– Chief Minister Nitish Kumar, along with the leader of the house and Tejashwi Yadav, leader of the opposition, were also elected.
– This is the third time the election for the chairman has taken place after the 2020 legislative assembly elections.
– Before Nand Kishor Yadav, Avadh Bihari Chaudhary was the chairman.
– Nand Kishor Yadav began his political journey in 1978.
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3. In which city has the Ministry of Culture established the regional center of the Sangeet Natak Academy, which will be known as the South India Cultural Centre?
a. Chennai
b. Mumbai
c. Kollam
d. Hyderabad
Answer: d. Hyderabad
– Former Vice President M. Venkaiah Naidu inaugurated the South India Cultural Center in February 2024.
– The new center of the Music and Drama Academy is located in Hyderabad.
– It will function as a center for the promotion and preservation of various art forms, including music, folk and tribal arts, theater, and puppetry.
Music and Drama Academy:
– The Music and Drama Academy is the first national academy established by the Government of India for the promotion of art.
– Established: May 31, 1952
– Headquarters: Ravindra Bhavan, Delhi
– It operates under the Ministry of Culture.
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4. Name the first Indian company whose market capitalization crossed Rs 20 lakh crore?
a. Reliance Industry
b. TCS
c. HDFC bank
d. ICICI Bank
Answer: a. Reliance Industry
– Reliance Industries Limited (RIL) is the first company in India to achieve this milestone.
– Reliance is the 48th company in the world to reach this milestone.
– On February 13, 2024, the market capitalization of India’s largest company, Reliance Industries, crossed ₹20 lakh crore.
– The company’s shares reached an all-time high of ₹2,958, leading to an increase in the company’s market capitalization.
– In terms of market capitalization, Reliance Industries is the largest company in the country.
– Mukesh Ambani, the chairman of Reliance Industries, is the richest person in India, with a total net worth of ₹9.38 lakh crore.
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5. Which court ruled that the appointment of Deputy CM in states is not unconstitutional?
a. Delhi High Court
b. Allahabad High Court
c. Patna High Court
d. Supreme Court
Answer: d. Supreme Court
– On February 12, 2024, the Supreme Court pronounced its verdict regarding the appointment of Deputy Chief Ministers (Deputy CMs) in states.
– A bench of three judges led by Chief Justice D. Y. Chandrachud stated that the appointment of Deputy CMs is not against the constitution. It is merely a convention given to senior leaders.
– This process is adopted to give more importance to alliances of parties in the government or other senior leaders.
– The Deputy CM is the first and most significant minister in the state government after the CM.
– This petition was filed in the Supreme Court by a political party.
– The petition claimed that there is no provision for a Deputy CM in the constitution.
– As of February 2024, there are 26 Deputy Chief Ministers in 14 states across the country.
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6. In which city was the seventh Indian Ocean Conference held, in which the Indian team was led by the External Affairs Minister?
a. Perth (Australia)
b. Colombo (Sri Lanka)
c. Kathmandu (Nepal)
d. New Delhi, India)
Answer: a. Perth (Australia)
– Date of Event: February 9th and 10th, 2024
– Theme of 2024: Towards a Stable and Sustainable Indian Ocean
– The objective of the conference is to discuss ways to create a peaceful, stable, and prosperous Indian Ocean.
– Representatives from 40 countries participated in the conference.
– Participants included Indian Foreign Minister Dr. S. Jaishankar, Sri Lankan President Ranil Wickremesinghe, Australian Foreign Minister Penny Wong, and Singaporean Foreign Minister Dr. Vivian Balakrishnan.
Indian Ocean Conference:
– It serves as a key consultative forum for countries in the Indian Ocean region.
– Organized annually by the Indian Ministry of External Affairs with the support of the Indian Foundation and other countries.
– The first conference was held in Singapore in 2016.
Indian Ocean Region:
– It stretches from the Malacca Strait to the Mozambique Channel, covering the western coast of Australia.
– It holds strategic importance for South Asia, the Middle East, East Africa, and the surrounding islands.
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7. Indian men’s football team fell to seven-year low in FIFA rankings in February 2024, tell the ranking?
a. 102
b. 109
c. 112
d. 117
Answer: d. 117
– In the FIFA rankings of February 2024, the Indian national football team has dropped 15 places to 117th position.
– This is the lowest position in the past seven years.
– The reason behind this is the defeat in the AFC Asian Cup. After the Asian Cup, not only did the team’s morale suffer, but its FIFA ranking also took a hit, as India suffered a loss of 35.63 rating points.
– Captain of the Indian Men’s Football Team: Sunil Chhetri
At the top is Argentina:
– The reigning world champions, Argentina, hold the first position in the rankings.
– Following them are France, England, Belgium, and Brazil.
FIFA:
– President: Gianni Infantino
– Headquarters: Zurich, Switzerland
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8. The Income Tax Department froze the bank accounts of which political party, after which the Income Tax Appellate Tribunal lifted some restrictions?
a. RJD
b. Congress
c. BJP
d. BSP
Answer: b. Congress
– On February 16, 2024, the Income Tax Appellate Tribunal lifted some restrictions on the Congress party’s frozen accounts.
– Prior to this, the Congress party had alleged that its bank accounts had been frozen.
– Ajay Maken, the National Treasurer of the Congress, stated in a press conference that the Income Tax department demanded a recovery of 210 crore rupees from the Youth Congress and the Congress party.
– The party had filed its income tax returns for the fiscal year 2018-19 with a delay of 45 days, which led to action by the Income Tax department.
– Following this, the Congress party stated that they were unable to pay electricity bills or salaries to employees. However, the accounts were later unfrozen, but a significant amount remained frozen.
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9. Which city was awarded the title of ‘Water Warrior’ by the Department of Water Resources, River Development and Ganga Rejuvenation under the Union Water Ministry?
a. Noida
b. Chandigarh
c. Mumbai
d. Patna
Answer: a. Noida
– During the World Water Awards 2023-24 held in Delhi, Noida was conferred with the title of ‘Water Warrior’ during a ceremony.
– The city earned recognition for having the best Sewage Treatment Plant (STP) and was also praised for its water reuse project.
– Recognizing the importance of maintaining waterways, the Noida Authority has devised a strategy for water drainage management.
Noida – It is a city in the Gautam Buddh Nagar district of Uttar Pradesh.
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