In this article, we will discuss all the important current affairs of 1st July 2021 in detail.
1. As part of the Aatma Nirbhar Bharat Package, the Union Cabinet authorises a Rs 6 lakh 28 thousand crore stimulus package.
- The Union Cabinet has approved the Aatma Nirbhar Bharat Package, which includes a 6 lakh 28 thousand crore rupee stimulus package announced by Union Finance Minister Nirmala Sitharaman.
- The cabinet has also approved the statement that the Pradhan Mantri Garib Kalyan Anna Yojana will be extended from May to November this year. The scheme’s financial impact this year will be around 93 thousand crore rupees.
2. The CCEA has approved the Revamped Distribution Sector Scheme for power DISCOMs with a market value of more than Rs. 3 lakh crore.
- The Cabinet Committee on Economic Affairs has adopted a Revamped Distribution Sector Scheme that is based on reforms and results.
- By providing conditional financial support for supply infrastructure strengthening, the Scheme aims to improve the operational efficiencies and financial sustainability of all DISCOMs and Power Departments, excluding Private Sector DISCOMs.
3. The Cabinet has approved a Memorandum of Understanding between India and Gambia on Personnel Administration and Governance Reforms.
- The signing of a Memorandum of Understanding between the Ministry of Personnel, Public Grievances and Pensions and the Gambia Public Service Commission on personnel administration and governance reforms has been authorised by Cabinet.
- The MoU will aid in the understanding of both nations’ personnel administration and assist them to improve their governance systems by copying, adapting, and innovating some of the best practises and processes.
4. NPCI has curated a Financial Literacy Textbook for CBSE Class 6 students.
- For pupils in Class VI, the Central Board of Secondary Education (CBSE) has introduced a Financial Literacy Textbook. According to the press announcement, the book was compiled by the National Payments Corporation of India (NPCI).
- This book will be used in a new optional course called “Financial Literacy.” It will give pupils a fundamental understanding of financial concepts at an early point in their schooling.
5. According to India’s Environment and Forest Minister, the country has set a goal of adding 2.5 billion tonnes of carbon sequestration by 2030.
- India has set a goal of adding 2.5 billion tonnes of carbon sequestration by 2030, according to Environment and Forest Minister Prakash Javadekar. He claims that the forest’s tree cover has increased by 15,000 square kilometres in the last seven years.
- The Minister started the plantation initiative at his home by planting a Parijat tree. Mr Javadekar urged people to plant trees and care for them.
6. Supreme Court orders that the “one nation, one ration card” programme be implemented until July 31.
- The Supreme Court has set a July 31 deadline for states to implement the “One Nation, One Ration Card” scheme and for the federal government to build a nationwide database of unorganised labour.
- The court also chastised the government for taking so long to build up a nationwide web gateway to register migrant and unorganised employees, describing the delay as “lackadaisical” and “unforgivable.”
7. The government joins forces with Intel India to launch a first-of-its-kind initiative to advance deep-tech research in the country.
- The government has teamed with Intel India to create a “first-of-its-kind” project to develop deep tech-based research in India, which is a significant boost to the Indian research community.
- The opportunities will be provided by the Science and Engineering Research Board (SERB), a statutory body of the Government’s Department of Science and Technology (DST), in collaboration with Intel India, through a first-of-its-kind research initiative called “Fund for Industrial Research Engagement (FIRE).”
8. India climbs three places in the global start-up rankings.
- This year, India has risen three ranks in the worldwide start-up list, a possible silver lining among the upheaval caused by the pandemic. India is placed 20th among the top 100 countries in Startup Blink’s Global Startup Ecosystem Index 2021.
- In 2019, the country was ranked 17th, but by 2020, it had dropped six places to number 23. With this increase, India’s startup ecosystem has re-entered the top 20 countries in the world.
9. The world’s second-largest hydropower dam is now operational in China.
- The government reported that the first two producing units of the world’s second-largest hydroelectric dam were turned on in southern China.
- The statement comes as the ruling Communist Party marks the formal 100th anniversary of its formation in 1921 this week.
- The Baihetan Dam on the Jinsha River, a tributary of the Yangtze, is part of China’s endeavour to reduce rising fossil fuel demand by increasing hydropower capacity, at a time when dams are losing favour in other nations due to environmental concerns.
10. The Center opens Asia’s and the world’s fifth-longest high-speed track.
- National Automotive Test Tracks (NATRAX) in Pithampur has opened Asia’s longest and world’s sixth high-speed test track. The new facility at NATRAX, which is being built under the Heavy Industries Ministry’s NATRiP (National Automotive Testing and R&D Infrastructure Project), was virtually launched by Union Minister Prakash Javadekar.
- The 11.3-kilometer facility is expected to attract international companies for automotive testing, reducing Indian OEMs’ reliance on foreign testing facilities.
11. In the ITU’s Global Cybersecurity Index 2020, India is ranked 10th.
- The International Telecommunication Union (ITU), the United Nations (UN) body for information and communication technology, has ranked India 10th in the Global Cybersecurity Index 2020 (GCI) (ICT). The GCI 2020 has been topped by the United States.
- The United Kingdom and Saudi Arabia are tied for second place, with Estonia in third.
Banking & Finance
12. Innoviti and PhonePe have teamed up to create the first Dual-Display UPI.
- The pioneering facility of Dual-Display-UPI was introduced by Innoviti Payment Solutions, India’s largest provider of payment solutions to Enterprise merchants, and PhonePe, India’s largest digital payments platform.
- Customers may now pay for their purchases at Shoppers Stop stores across India using UPI, which is a safer and faster option.
13. Axis Bank signs a cloud computing agreement with Amazon Web Services (AWS) for digital transformation.
- Axis Bank, India’s third-largest private sector bank, has chosen Amazon Web Services (AWS), the cloud computing branch of e-commerce giant Amazon, to speed its digital transformation initiative and fulfil growing demand for its digital banking services.
- Axis Bank will use the breadth and depth of AWS services as part of a multi-year deal. Containers, databases, and compute will be used to create a portfolio of new digital financial services that will provide users with sophisticated banking experiences.
Business & Economy News
14. Reliance Industries Ltd (RIL) and Abu Dhabi National Oil Company (ADNOC) have struck a strategic collaboration to establish a chlor-alkali, ethylene dichloride, and polyvinyl chloride (PVC) production facility at TA’ZIZ in Ruwais, Abu Dhabi.
- The businesses will build an integrated facility with a capacity of 940,000 tonnes of chlor-alkali, 1.1 million tonnes of ethylene dichloride, and 360,000 tonnes of PVC per year under the conditions of the deal.
15. The growth of credit to industry is expected to be negative in 2020-21, according to the RBI.
- According to RBI data, credit growth to the industrial sector remained negative in 2020-21, owing to the COVID-19 epidemic and resulting lockdowns.
- Personal loans, on the other hand, “continued to increase at a solid pace, recording 13.5 percent growth (Y-oY) in March 2021; industrial loan growth, on the other hand, remained negative throughout the 2020-21 quarters.”
16. N Venudhar Reddy, an IIS officer, has been appointed Director General of All India Radio.
- Director General of All India Radio was taken over by Venudhar Reddy, an Indian Information Service officer from the 1988 class.
- He was given additional charge of AIR after the Appointments Committee of the Cabinet approved his appointment as Principal DG of News Services Division, All India Radio.
17. Niti Aayog CEO Amitabh Kant gets a one-year extension
- Amitabh Kant, the CEO of the National Institution for Transforming India (NITI Aayog), has been granted a one-year extension by the Centre until June 2022.
- Kant’s tenure has now been extended for the third time. On February 17, 2016, Mr Kant was appointed as the CEO of the government policy think tank for a two-year term.
Books & Authors
18. SCO receives ten translated works of modern Indian literature from India.
- India offered the Shanghai Cooperation Organization with English, Russian, and Chinese translations of ten classic works of modern literature produced by notable Indian authors in several languages (SCO).
- At the SCO secretariat in Beijing, Indian Ambassador to China Vikram Misri presented the books to SCO Secretary General Vladimir Norov.
19. Raj Kaushal, a film director, has died.
- Raj Kaushal, the director of films such as “Shaadi Ka Laddoo” and “Pyaar Mein Kabhi Kabhi Kabhi Kabhi Kabhi Kabhi Kabhi Kabhi Kabhi Kabhi Kabhi Kabhi Kabhi Kabhi Kabhi Kabhi Kabhi Kabhi Kabhi Kabhi Kabhi Kabhi Kabh He was in his fifties at the time.
- Aside from directing, Kaushal also produced filmmaker Onir’s acclaimed drama “My Brother… Nikhil,” which starred Sanjay Suri and Juhi Chawla and was released in 2005.
20. K.V. Sampath Kumar, Editor of the Sanskrit Daily ‘Sudharma,’ Has Died.
- Following a heart attack, K V Sampath Kumar, the editor of India’s only Sanskrit daily Sudharma for the previous 31 years, died. He was 64 years old at the time.
- Sudharma was established on July 15, 1970, by his father, Kalale Nadadur Varadaraja Iyengar, a renowned Sanskrit scholar from Mysuru.
21. Today is National Doctors’ Day.
- The Indian Medical Association observes National Doctors’ Day on July 1 each year (IMA). The day is devoted to all doctors and healthcare workers who have risked their lives to serve the people.
- The day is marked to remember former Bengal Chief Minister Dr. Bidhan Chandra Roy’s birth and death.
22. Chartered Accountants Day is an annual event commemorating the profession of chartered accountants.
- National Chartered Accountant Day is observed on July 1 in India. The Institute of Chartered Accountants of India (ICAI) was founded on July 1, 1949, and is commemorated on this day.
- In India, the ICAI is the only licencing and regulatory authority for the accounting and financial auditing professions. Every accounting and finance body, including the National Financial Reporting Authority (NFRA), is required to follow the accounting standards recommendations that they make.
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