National News

Union Culture Minister Unveils Plans for India’s Digital National Museum of Epigraphy

• Union Culture Minister G. Kishan Reddy recently laid the foundation stone for India's digital National Museum of Epigraphy at the Salar Jung Museum in Hyderabad.
• Spearheaded by the Archaeological Survey of India (ASI), this museum aims to preserve approximately one lakh ancient writings spanning various times and languages for future generations.
• This initiative builds upon the announcement made by Union Finance Minister Nirmala Sitharaman regarding the establishment of the Bharat Shared Repository of Inscriptions (BharatSHRI) last year.
• The project aims to digitize one lakh ancient inscriptions, ensuring accessibility to a wider audience and facilitating scholarly research.

India to Secure Indo-Myanmar Border with Fencing Project

• In a bid to enhance border security measures, India has undertaken a significant project to fence the entire 1643-kilometer-long Indo-Myanmar
• With the increase in anti-Junta rebels and tribal militants crossing over since the 2021 Myanmar military coup, the fencing initiative aims to curb unauthorized border crossings and bolster security measures.
• The plan also includes paving a patrol track along the border to facilitate better surveillance capabilities, ensuring comprehensive monitoring of border activities.

Introducing the Public Examinations (Prevention of Unfair Means) Bill, 2024

• The Public Examinations (Prevention of Unfair Means) Bill, 2024, introduces a comprehensive legal framework to safeguard the integrity and fairness of public examinations across India.
• The bill addresses and aims to prevent the use of unfair means in public examinations. It includes various definitions and stipulations clarifying the roles, responsibilities, and penalties associated with the conduct of public examinations.
• The enactment of this bill underscores the government's commitment to ensuring a transparent, equitable, and merit-based assessment system.

Prime Minister Modi Inaugurates ONGC Sea Survival Centre in Goa

• During a visit to Goa, Prime Minister Modi inaugurated the integrated Sea Survival Training Centre developed by ONGC.
• This state-of-the-art facility is expected to train thousands of personnel annually, enhancing their sea survival skills and preparedness to face real-life disasters.
• Additionally, Prime Minister Modi inaugurated India Energy Week 2024, highlighting India's commitment to achieving energy self-sufficiency and sustainability.

DoNER Hosts ‘North-East Sammelan’ to Showcase Region’s Progress

• A North-East Sammelan convened at the Ambedkar International Centre in New Delhi to showcase the progress and collaborative efforts in the region.
• The event witnessed the presence of distinguished ministers, MPs, MLAs, officers, and students, emphasizing its significance.
• Furthermore, ministers inaugurated significant projects virtually, including the North Eastern Cultural and Social Institute in Dwarka and the Barak Hostel at JNU, New Delhi.
• These initiatives promise to foster cultural exchange, social engagement, and address accommodation needs, enhancing the academic experience of Northeast students.

PM Narendra Modi Unveils Projects Worth ₹1330 Crore In Goa

• Prime Minister Narendra Modi recently made significant strides in Goa’s educational sector by inaugurating the permanent campus of the National Institute of Technology Goa.
• This campus, constructed at a cost exceeding ₹1330 crore, boasts state-of-the-art facilities catering to the diverse needs of students, faculty, and staff.
• These amenities include tutorial complexes, departmental buildings, seminar halls, administrative structures, hostels, healthcare centers, staff quarters, amenity centers, sports grounds, and other utilities, all aimed at enhancing the academic atmosphere in Goa.

White Paper On Economy: NDA Govt To Table On Alleged UPA Govt’s Economic Mis-Management

• India’s Budget session has been extended to facilitate the presentation of a “white paper” addressing alleged economic mismanagement during the previous Congress-led UPA government.
• Finance Minister Nirmala Sitharaman is set to present the white paper in both houses of Parliament on Feb 10, shedding light on the economic challenges encountered before 2014 and the subsequent turnaround under the current administration.
• This document serves as a means for the government to communicate its analysis of past economic policies and articulate its vision for the future, aiming to educate the public on economic matters and solicit feedback on proposed strategies.

International News

Sri Lanka Pursues Free Trade Agreements With India To Boost Economic Growth

• In a bid to overcome economic hurdles and stimulate growth, Sri Lanka is actively working towards establishing free trade agreements (FTAs) with various countries, including India, by the end of 2024.
• The objective is to finalize an FTA with India alongside similar agreements with Indonesia, Malaysia, Vietnam, and China, aiming to create new avenues for Sri Lankan businesses and directly contribute to economic expansion.

Iran Abolishes Visa Requirements For Indian Tourists From Feb 4, 2024

• Iran has taken a significant step towards fostering tourism and global engagement by abolishing visa requirements for Indian tourists effective February 4, 2024.
• Under this new policy, Indian ordinary passport holders can visit Iran every six months for up to 15 days, aligning with Iran's broader initiative to encourage overseas travel.
• The visa waiver program now includes 33 countries, including India, Russia, UAE, Bahrain, Saudi Arabia, Qatar, Kuwait, among others, underscoring Iran's commitment to international interaction.

Nayib Bukele Secures Reelection As El Salvador President

• El Salvadoran President Nayib Bukele has clinched reelection, despite persistent concerns regarding authoritarian tendencies.
• Bukele, born on July 24, 1981, is a prominent Salvadoran politician and entrepreneur who assumed office as the 43rd president of El Salvador on June 1, 2019. As he embarks on his second term, addressing poverty and fostering economic growth remain focal points of his agenda.
• Bukele's initiatives, including the adoption of Bitcoin, aim to stimulate economic activity and alleviate poverty, although they face skepticism from international observers.

State News

Uttar Pradesh Government Enhances ‘EV Upyog’ Portal To Promote Electric Vehicles

• The Uttar Pradesh government has taken substantial strides to promote electric vehicles (EVs) within the state. An integral part of this initiative is the enhancement of the ‘EV Upyog’ portal, serving as a facilitative platform for EV-related activities.
• To bolster this portal, the Uttar Pradesh Development Systems Corporation Limited (UPDSCL) has initiated the hiring process for a software development agency for a year-long tenure.
• The primary objective is to introduce several user-friendly features and enhancements, leveraging cloud server technology for hosting. This move ensures scalability, reliability, and enhanced cybersecurity measures.

Maharashtra Government Decided To Introduce ‘Chief Minister Vayoshree Yojana’

• In Maharashtra, the government's commitment to improving the lives of senior citizens and fostering cooperative societies is evident through various initiatives.
• The introduction of the ‘Chief Minister Vayoshree Yojana’ is a significant step towards aiding around 15 lakh senior citizens facing physical or mental disabilities.
• Eligible citizens aged 65 and above will receive financial assistance of three thousand rupees, offering crucial support and relief to vulnerable segments of society.

Economy News

Fitch Predicts India’s Fiscal Deficit At 5.4%, Exceeds Government Target

• Fitch, a global ratings agency, predicts India’s fiscal deficit to rise to 5.4% of GDP in FY25, exceeding the government’s target of 5.1% set by Finance Minister Nirmala Sitharaman.
• The agency considers the government’s adjustment of the FY24 deficit target to 5.8% from 5.9% as modest.
• Achieving the FY25 target is deemed critical for attaining a 4.5% deficit in FY26. Fitch's optimistic outlook positions India favorably for sustained growth, with emphasis on capex supporting this viewpoint.

OECD Raises India’s Growth Forecast For FY25 To 6.2%

• The Organization for Economic Co-operation and Development (OECD) has revised India’s GDP growth forecast for FY25 upwards to 6.2%, a marginal increase from the previous estimate of 6.1%.
• The outlook for FY26 remains steady at 6.5%. Despite tighter financial conditions, emerging-market economies, including India, continue to grow steadily.
• There is optimism regarding India's potential to achieve another year of 7% real growth in FY25, marking the fourth consecutive year of growth post-pandemic.

Banking News

HDFC Bank Receives RBI Approval For Stake Acquisition In Six Banks

• HDFC Bank has received approval from the Reserve Bank of India (RBI) to acquire stakes in six prominent banks.
• This approval, granted on January 5, 2024, allows HDFC Bank and its affiliated companies to acquire an aggregate stake of up to 9.5% in ICICI Bank, Axis Bank, IndusInd Bank, YES Bank, Bandhan Bank, and Suryoday Small Finance Bank (SFB).
• Valid until February 4, 2025, the approval enables acquisitions within the normal course of business for these respective entities.

Banking System Liquidity Deficit Shrinks: RBI Data Analysis

• According to recent data analysis by the Reserve Bank of India (RBI), the liquidity deficit in the banking system has notably decreased to approximately ₹1.40 lakh crore as of February 4, witnessing a substantial decline from a recent high of ₹3.46 lakh crore on January 24.
• Consequently, overnight money market rates have also eased, with the weighted average rate dropping to 6.33 per cent from last month’s range of 6.50 per cent to 6.75 per cent.
• This reduction in liquidity deficit is attributed to increased disbursement of contract payments and salaries in early February.
• However, anticipated outflows from the banking system due to GST payments in mid-February could potentially lead to a resurgence in liquidity deficit, projected to range between ₹2 lakh crore to ₹2.5 lakh crore.

Important Days News

National Science Day 2024 Theme Unveiled By Dr. Jitendra Singh

• National Science Day (NSD) serves as a platform to celebrate the remarkable scientific achievements and discoveries that have significantly impacted our world.
• In a recent announcement, Jitendra Singh, the Union Minister of State for Science & Technology, revealed the theme for NSD 2024 as “Indigenous Technologies for Viksit Bharat.”
• This theme underscores India’s dedication to fostering innovation and self-reliance in the realm of science and technology. It emphasizes the importance of homegrown solutions in addressing societal challenges and advancing overall well-being.

Appointments News

Justice Vijay Bishnoi Assumes Office As Chief Justice Of Gauhati High Court

• Justice Vijay Bishnoi has taken the oath as the Chief Justice of the esteemed Gauhati High Court, marking a significant milestone in his distinguished legal career.
• The Central Government, through a notification dated February 2, 2024, formally appointed Justice Vijay Bishnoi to this prestigious position.
• His extensive experience as a Judge of the Rajasthan High Court, coupled with his profound expertise in legal practice, makes him a fitting choice for this pivotal role.

ADB Appoints Mio Oka As New Country Director For India

• The Asian Development Bank (ADB) has announced the appointment of Mio Oka as its new Country Director for India, succeeding Takeo Konishi.
• With nearly three decades of professional experience, including over 18 years with ADB, Ms. Oka brings a wealth of expertise in development finance and project management to her new role.
• Her appointment signifies a significant milestone in ADB’s ongoing partnership with India, aimed at supporting its development goals and economic growth.

Agreements News

Maharashtra Proposes 40 Ropeway Projects, Signs MoU With NHAI

• A collaboration between the Maharashtra government and the National Highways Logistic Management Limited (NHLML) marks a pivotal step towards enhancing connectivity and promoting tourism development through ropeways under the National Ropeway Programme ‘Parvatmala’.
• Formalizing their partnership, the Maharashtra government and NHLML signed a Memorandum of Understanding (MoU), underscoring their joint commitment to infrastructure development and the execution of ropeway projects.
• Maharashtra has proposed 40 ropeway projects targeting prominent tourist destinations, aiming to enhance connectivity across various regions such as Mumbai, Satara, Raigad, Nashik, Nanded, Ratnagiri, Sindhudurg, and Pune.

Sports News

BIMSTEC Aquatic Championships Inaugurated by Sports Minister Anurag Thakur

• On February 6th, 2024, New Delhi witnessed a momentous occasion in regional sports diplomacy with the inauguration of the first-ever BIMSTEC Aquatics Championship by Sports Minister Anurag Thakur.
• This championship signifies the strengthening cooperation and camaraderie among the member states of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC).
• With over 400 athletes and officials from seven member states poised to participate, the championship promises to be a vibrant showcase of sporting excellence and cultural exchange.

Telangana Football Association to Host FIFA World Cup Qualifiers in Hyderabad

• A significant milestone awaits Telangana as the Telangana Football Association (TFA) secures approval to host the FIFA World Cup qualifiers round between India and Kuwait.
• Scheduled for June 6th in Hyderabad, this announcement, made by Dr. K.T. Mahi, Chairman of TFA, marks a historic moment for the state.
• Welcoming top-tier international football for the first time, Dr. Mahi expressed gratitude to all parties involved in realizing this momentous occasion.

Science & Technology News

Kyasanur Forest Disease: Understanding Monkey Fever

• Kyasanur Forest Disease (KFD), colloquially known as Monkey Fever, has emerged as a significant health concern in Karnataka, India.
• With two fatalities and 49 positive cases reported this year, the state's health department is on high alert. Originating from the Kyasanur Forest in 1957, KFD is caused by the Kyasanur Forest Disease Virus (KFDV).
• The majority of cases have been concentrated in the Uttara Kannada district, prompting intensified efforts by health officials to contain the spread.

Miscellaneous News

IRCTC Launches Ramayana Circuit Train to Boost Tourism

• In the wake of the Ram temple inauguration, the Indian Railway Catering and Tourism Corporation (IRCTC) introduces a thoughtfully curated tour program, offering travelers an immersive experience into the spiritual narrative of the Ramayana.
• This pilgrimage journey is a significant step in connecting devotees with revered sites associated with Lord Rama’s saga.
• The itinerary encompasses iconic destinations, ensuring a seamless and comfortable journey with meticulously curated amenities.

Divya Kala Mela 2024 Inaugurated in Agartala, Tripura

• The Divya Kala Mela, an initiative by the Department of Empowerment of Persons with Disabilities (DEPwD), graces the vibrant city of Agartala, Tripura, inaugurated on February 6th, 2024.
• Celebrating the talents and skills of Divyang artisans and entrepreneurs from across the country, the event offers a diverse range of products, including home décor, clothing, stationery, and organic products, showcasing the creativity and ingenuity of individuals with disabilities.