This is the current affairs of 23 July 2024. Here are questions and answers of daily current affairs for better preparation of competitive exams for government jobs.
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1. According to the Economic Survey presented in the Parliament, what is the estimated GDP growth rate of the country in the financial year 2024-25?
a. 8% to 8.5%
b. 9% to 9.2%
c. 6.5% to 7%
d. 6% to 6.8%
Answer: c. 6.5% to 7%
– Central Finance Minister Nirmala Sitharaman presented the Economic Survey 2024 in Parliament on July 22, 2024.
What is the Economic Survey?
– The Economic Survey is an annual account of the country’s economic development over a year.
– It estimates how the country’s economy has performed in the past year.
– In simple terms, the Economic Survey reviews the developments in the Indian economy over the past year by the government.
– It provides various statistics.
– These statistics are crucial as they form the basis for the budget.
– The government’s projections for revenue and expenditure in the budget are based on this survey.
– It indicates the government’s expectations for economic growth or GDP in the coming year.
Who prepares the Economic Survey?
– The Economic Survey is prepared by the Economics Division of the Department of Economic Affairs, under the Ministry of Finance.
– It is created under the supervision of the Chief Economic Advisor (CEA).
– Currently, the Chief Economic Advisor is V. Anantha Nageswaran.
– The survey is presented in both houses of Parliament.
State of the Economy
#GDP Growth Rate Estimate in the Economic Survey
– Fiscal Year 2023-24: 8.2%
– Fiscal Year 2024-25: 6.5% to 7%
#Inflation Management: Due to effective administrative and monetary policies, retail inflation decreased from 6.7% in FY23 to 5.4% in FY24.
#Tax Collection: 55% of tax is collected from direct taxes, and 45% from indirect taxes.
#Welfare Programs: The government provided free food grains to 814 million people and progressively increased capital expenditure.
Monetary Management and Financial Intermediation
#Policy Rate: The RBI maintained a stable policy rate, keeping the repo rate at 6.5%.
#Agricultural Credit: Double-digit credit growth was observed in agriculture and allied activities in FY24.
#Industrial Credit: Industrial credit growth was 8.5%, compared to 5.2% in the previous year (FY22-23).
#Insolvency and Bankruptcy Code (IBC): By March 2024, settlements worth ₹13.9 lakh crore for 31,394 corporate debtors are expected.
#Capital Market: Primary capital markets facilitated capital formation of ₹10.9 lakh crore in FY24.
#Market Capitalization: The market capitalization-to-GDP ratio of the Indian stock market is the fifth largest in the world.
Prices and Inflation Control
– Retail Inflation: Due to timely policy interventions, retail inflation remained at 5.4% in FY24, the lowest since the pandemic.
– Fuel Prices: The Global Energy Price Index declined in FY24. The government reduced prices for LPG, petrol, and diesel.
– Food Inflation: Due to extreme weather events affecting agricultural production, food inflation increased from 6.6% in FY23 to 7.5% in FY24.
– Inflation Management: Dynamic stock management, open market operations, and subsidized food supplies helped reduce food inflation.
– Agriculture Sector Challenges: The agriculture sector faced challenges due to adverse weather, depleting reservoirs, and crop losses, impacting agricultural production and food prices. This led to an increase in food inflation to 7.5% in FY24 from 6.6% in 2023.
External Sector
– Trade Deficit with China: India needs to strike a balance between goods and capital imports to reduce the growing trade deficit with China.
– Geopolitical Challenges: Despite geopolitical adversities, India’s external sector remained robust.
– Logistics Performance Index: Improved ranking from 44th in 2018 to 38th in 2023 among 139 countries.
– Global Export Share: India’s share in global goods exports was 1.8% in FY23-24.
– Service Exports: Driven by IT/software services and other professional services, service exports increased by 4.9% to USD 341.1 billion.
– Remittances: India is projected to be the top global recipient of remittances in 2023, with USD 120 billion.
Climate Change and Energy Transition: Addressing Trade-offs
– Climate Action Recognition: India is the only G-20 nation aligned with the 2-degree Celsius temperature increase goal.
– Renewable Energy: Non-fossil sources reached 45.4% of installed power generation capacity by May 31, 2024.
– Emission Reduction: Reduced emission intensity of GDP by 33% from 2005 levels by 2019.
– Energy Savings: Achieved total annual energy savings equivalent to 51 million tons of oil, translating to annual cost savings of ₹1,94,320 crore.
– Green Bonds: Issued ₹16,000 crore in January-February 2023 and ₹20,000 crore in October-December 2023.
Social Sector
– Housing and Roads: Constructed 26.3 million houses under PM Awas Yojana-Gramin; completed 1.514 million kilometers of roads under the rural road scheme since 2014-15.
– PM-Surya Ghar Yojana: Expected to add 30 GW of solar capacity, aiming to create approximately 1.7 million jobs in the solar value chain. The scheme was launched in February this year with a budget of ₹75,021 crore.
– Ayushman Bharat: Issued 347 million cards, facilitated 73.7 million hospital admissions.
Employment and Skill Development
– Labor Market Improvement: The unemployment rate decreased to 3.2% in 2022-23.
– Workforce Distribution: 45% in agriculture, 11.4% in manufacturing, 28.9% in the service sector, and 13% in construction.
– Job Creation Needs: The Indian economy needs to create an average of approximately 7.85 million non-farm sector jobs annually by 2030 to meet the needs of the growing workforce.
– Skill Gap: Despite 65% of the population being under 35 years of age, many lack the necessary skills. Currently, only 51.25% of the youth are employable.
Agriculture and Food Management
– Agricultural Growth: An average annual growth rate of 4.18% has been recorded over the past five years.
– Agricultural Credit: The total credit disbursed to agriculture is expected to reach ₹22.84 lakh crore by January 31, 2024.
Industry
– PLI Scheme: The PLI scheme has attracted an investment of ₹1.28 lakh crore so far. Chief Economic Advisor Nageswaran stated that the PLI scheme is performing very well in key sectors.
– Electronics Manufacturing: Accounted for 3.7% of the global market share in FY22.
– Pharmaceutical Market: With a valuation of 50 billion USD, India is the third-largest market in the world by volume.
– Manufacturing Sector: Achieved an average annual growth rate of 5.2% over the past decade.
Service Sector
– Active Companies: 65% of the most active companies are in the service sector.
– Aviation Sector Growth: Total air passenger numbers have increased by 15% annually.
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2. Who became the first woman officer of the Army Air Defence Corps in Siachen Glacier?
a. Aastha Segal
b. Avni Sharma
c. Supreeta CT
d. Maya S
Answer: c. Supreeta CT
– Captain Suprita CT has become the first female officer of the Army Air Defence Corps to be operationally deployed in the world’s highest battlefield, the Siachen Glacier.
– She hails from Mysuru district in Karnataka.
– Her father, Thirumalesh, serves as a sub-inspector of police in Talakad, near Mysuru.
– Captain Suprita CT joined the Indian Army as a Lieutenant in 2021.
– Her first posting was in the Army Air Defence.
First Female Officer in Siachen
– First Female Military Officer: Captain Shiva Chauhan (deployment announced in January 2023)
– First Female Medical Officer: Captain Geetika Kaul (deployment announced on December 5, 2023)
– First Female Officer of Army Air Defence Corps: Captain Suprita CT (deployment announced in July 2024)
Siachen
– Located in the eastern Karakoram range of the Himalayas, the Siachen Glacier is known as the world’s highest battlefield. Serving in this region presents a unique challenge.
– Altitude: Over 20,000 feet
– Temperature: -50°C
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3. PR Sreejesh, a player associated with which sport, announced on 22 July 2024 that he will retire after the Paris Olympics?
a. Tennis
b. Cricket
c. Football
d. Hockey
Answer: d. Hockey
– PR Sreejesh is the goalkeeper for the Indian men’s hockey team.
– He has announced that the Paris Olympics starting on July 26 will be his last international tour.
– At 36 years old, this will be Sreejesh’s fourth Olympics.
– Under his captaincy, India participated in the 2016 Rio Olympics and the team finished in eighth place.
– He won a bronze medal with the Indian team at the 2020 Tokyo Olympics.
– Sreejesh has played 328 international matches for India.
– He made his debut in the 2010 World Cup.
– He won a gold medal at the 2014 Asian Games and a bronze medal at the 2018 Jakarta-Palembang Asiad.
– He won a silver medal at the 2022 Commonwealth Games.
– He was also part of the team that won the 2023 Asian Champions Trophy.
– In the 2022 Asian Games, he led India to a gold medal.
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4. Which two former Indian tennis players have been inducted into the International Tennis Hall of Fame, becoming the first Asian male players to do so?
a. Leander Paes and Vijay Amritraj
b. Rohan Bopanna and Vijay Amritraj
c. Mahesh Bhupathi and Rohan Bopanna
d. Leander Paes and Mahesh Bhupathi
Answer: b. Rohan Bopanna and Vijay Amritraj
– On July 20, 2024, the International Tennis Hall of Fame ceremony was held in Newport, United States.
– Both players made India the 28th nation to be represented in the Hall of Fame.
– Additionally, British tennis journalist and author Richard Evans was also inducted into the Hall of Fame.
Leander Paes: 18-Time Grand Slam Champion
– The 51-year-old Leander Paes had also tried his hand at football and hockey before choosing tennis as a career.
– His father is an Olympic medalist in hockey.
– Leander Paes is an 18-time Grand Slam champion in doubles and mixed doubles.
– He was selected in the player category after playing at the Amritraj Youth Academy.
– He won the mixed doubles titles at the 2012 Australian Open and the 2016 French Open.
– His only ATP singles title came in 1998 on the Newport grass, the same place where he was inducted.
– He won a bronze medal at the 1996 Atlanta Olympics by defeating Brazil’s Fernando Meligeni 3-6, 6-2, 6-4.
Vijay Amritraj Was Also an Actor
– Vijay Amritraj was both a tennis player and an actor.
– The 70-year-old Amritraj made his debut in 1970 and retired in 1993.
– During his career, he won 15 ATP singles titles and 399 matches, achieving a career-high singles ranking of 18.
– He helped India reach the Davis Cup finals in 1974 and 1987.
– He also acted in James Bond and Star Trek film series.
International Tennis Hall of Fame
– A Hall, Wall, or Walk of Fame is a list of individuals, achievements, or other entities selected by a group to mark their excellence or fame in their field.
– The International Tennis Hall of Fame is located in the United States. It honors players in the sport of tennis.
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5. Ibrahim Iskandar became the 17th King of which country?
a. Malaysia
b. Indonesia
c. Philippines
d. Thailand
Answer: a. Malaysia
– Ibrahim Iskandar was crowned on July 20, 2024, at the National Palace in Kuala Lumpur, Malaysia.
– He will serve as Malaysia’s king for five years.
– Since gaining independence from Britain in 1957, the rulers of the Malay states in Malaysia have taken turns as king for five-year terms.
– The ceremony was attended by Malaysia’s Prime Minister Anwar Ibrahim.
– The 65-year-old Iskandar comes from the Johor royal family.
– Sultan Ibrahim Iskandar’s eldest son and Malaysia’s Crown Prince, Tunku Ismail, has also served as a captain in the Indian Army.
– In 2007, Tunku Ismail became the first foreigner to lead an Indian Army unit.
How the King is Elected in Malaysia
– Malaysia has 13 states and 9 royal families.
– The heads of these royal families are the sultans of the 9 states, who take turns being king for 5-year terms.
– Malaysia conducts a secret ballot for this election.
– Ballots are used in the voting process.
– However, the ballot paper contains the name of the sultan who is next in line to become king.
– Each sultan must indicate whether the nominated person is suitable to become king.
– A candidate must receive a majority to become king.
– Once the voting results are announced, the ballots are destroyed in front of the sultans.
Prime Minister: Anwar Ibrahim
Language: Malay
Currency: Malaysian Ringgit
Population: 33.9 million (2022)
Neighboring Countries: Brunei, Indonesia, Philippines, Singapore, Thailand, and Vietnam
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6. Famous organic farmer Kamla Pujari passed away on 20 July 2024, which award did she receive?
a. Padma Bhushan
b. Padma Shri
c. Padma Vibhushan
d. Bharat Ratna
Answer: b. Padma Shri
– 74-year-old Kamla Pujari passed away due to a kidney infection.
– President Droupadi Murmu, Prime Minister Narendra Modi, and several other political figures expressed their condolences on her passing.
– Kamla Pujari was from Patraput village in Jaipur.
– She received the Padma Shri Award in 2019 for her contributions to organic farming.
– In 2002, she was honored with the Equator Initiative Award in Johannesburg, South Africa, for the conservation of indigenous rice varieties.
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7. Who has been announced for honour at the Indian Film Festival of Melbourne (IFFM) for his contribution to Indian cinema?
a. Ram Charan
b. Amitabh Bachchan
c. Prabhas
d. Shahrukh Khan
Answer: a. Ram Charan
– Superstar Ram Charan is the chief guest at the Indian Film Festival of Melbourne (IFFM).
– The festival will run from August 15 to August 25, 2024.
– At this festival, Ram Charan will also be awarded the Ambassador of Indian Art and Culture for his outstanding contribution to Indian cinema.
– The Victorian state government organizes this annual festival, where the actor’s films will be reviewed to celebrate his journey in the film industry.
– Ram Charan has become the first Indian cinema actor to receive this honor.
– His previous film, RRR, earned over 1,000 crore rupees at the worldwide box office.
– The hit song “Naatu Naatu” from this film won the Oscar for Best Original Song at the Academy Awards.
– IFFM Festival Director Meetu Bhoomik Lange said, “We are delighted to welcome Ram Charan to Melbourne and are excited to celebrate his achievements with the audience at the festival.”
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8. When is World Brain Day observed?
a. 20 July
b. 21 July
c. 22 July
d. 23 July
Answer: c. 22 July
Theme for 2024:
– Brain Health and Prevention
(This theme emphasizes the importance of maintaining a healthy brain as a preventive measure against various neurological conditions, including Alzheimer’s, Parkinson’s disease, brain stroke, and others.)
– This day is organized by the World Federation of Neurology.
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9. When is World Drowning Prevention Day celebrated?
a. 25 July
b. 26 July
c. 27 July
d. 28 July
Answer: a. 25 July
Theme 2024
– Anyone can drown, no one should.
– Every year, approximately 2.5 million people lose their lives due to drowning, and about 82,000 of them are children aged 1 to 14 years.
– This day was declared through the United Nations General Assembly Resolution on “Global Drowning Prevention.”
– It focuses on preventing deaths from drowning in disasters, rivers, ponds, wells, etc.
– The aim is also to provide lifesaving solutions to prevent such disasters.
– United Nations data estimates that 236,000 people drown every year.
– Among these, 90 percent of drowning cases occur in middle-income countries.
Drowning Deaths in India:
– In 2021, 36,362 people died from drowning.
– This data is from the National Crime Records Bureau (NCRB).
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10. Who was re-elected for the fourth term as the President of Rwanda?
a. Paul Kagame
b. Frank Habinja
c. Philip Mpayimana
d. Roger Wange
Answer: a. Paul Kagame
– Paul Kagame took office after ending Rwanda’s civil war in 2000.
– He has been a significant figure in Rwandan politics since the 1990s.
Rwanda:
– Rwanda is a landlocked country located in East-Central Africa. It is also known as the “Land of a Thousand Hills.”
– Capital: Kigali
– Currency: Rwandan Franc
– Neighbors: Burundi, Tanzania, Uganda, Democratic Republic of the Congo
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11. Name the head coach of Indian men’s football team?
a. Dhanraj Pillai
b. PR Sreejesh
c. Mohammad Shahid
d. Manolo Marquez
Answer: d. Manolo Marquez
– The All India Football Federation (AIFF) appointed Manolo Marquez as the new head coach of the Indian men’s football team on July 20, 2024.
– Marquez, from Barcelona, Spain, has an impressive coaching record in India.
– Marquez has been coaching in India since 2020.
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