National News

Ayodhya Airport Renamed As ‘Maharishi Valmiki International Airport’; Gains International Status

• In a historic move, the Union Cabinet recently sanctioned the elevation of Ayodhya Airport to international status, now bearing the name “Maharishi Valmiki International Airport, Ayodhyadham.”
• This decision, rooted in the region's rich historical and cultural tapestry, aims to unlock Ayodhya's economic potential.
• The government highlights the city's global pilgrimage status, anticipating a surge in foreign pilgrims and tourists.
• The airport's development will unfold in phases, initially accommodating one million passengers annually and later expanding to serve a remarkable six million commuters after the second phase.

State News

Assam Government Initiates ‘Gunotsav 2024’

• The Assam government is set to conduct the fifth edition of ‘Gunotsav 2024,’ a comprehensive statewide assessment evaluating the performance of around 40 lakh students across government schools.
• Scheduled from January 3 to February 8, 2024, this initiative underscores its role in enhancing the quality of education and elevating learning outcomes in the state.
• With active participation from teachers, students, administrators, and local communities, ‘Gunotsav’ aims to instill accountability and contribute to an overall improvement in the quality of education in Assam.

Economy News

India Plans ‘Bharat Park’ Trade Zone In UAE For Global Showcase

• India's visionary plan involves establishing ‘Bharat Park,’ a dedicated trade zone in the UAE. This trade zone will showcase Indian-made goods through showrooms and warehouses, catering to a global audience.
• Emphasizing the significance of Man Made Fibre Textiles due to challenges in meeting the growing demand for cotton, Goyal encourages industry players to capitalize on free trade agreements with Japan, Australia, UAE, and South Korea.
• Concerns over underutilization of these agreements add a layer of urgency to the initiative.

India’s FY24 GDP Growth Projection At 7.3%: NSO Data

• India's economic outlook shines as the National Statistical Office (NSO) projects a robust 3% GDP growth for the fiscal year 2023-24, surpassing the 7.2% recorded in the previous year.
• The construction sector takes the lead with an impressive double-digit growth rate of 10.7%.
• The projected Real GDP at Constant Prices for FY24 stands at ₹171.79 lakh crore, reflecting the nation's economic resilience and growth trajectory.

Important Days News

National Birds Day 2024

• National Birds Day, observed on January 5 in the United States, aims to raise awareness about the importance of birds in our ecosystem.
• Designated by the Avian Welfare Coalition, the day serves as a reminder that birds deserve to live in complete freedom, not as captive showpieces.
• It advocates for the protection and well-being of these lovely creatures, highlighting their role in maintaining the delicate balance of nature.

World Day Of War Orphans 2024

• On January 6, 2024, the world will unite to observe the World Day of War Orphans, dedicated to shedding light on the struggles and needs of children who are the most vulnerable victims of war.
• Amidst ongoing global conflicts, this day emphasizes the profound and lasting impact of war on innocent children.
• Marked by powerful themes such as “Orphan Lives Matter” and “Standing Up for War-Affected Children,” the day calls for global attention and action to support and protect these children facing adversity.

Ranks & Reports News

UN Report: India’s GDP Growth Forecast At 6.2% For 2024       

• As per the United Nations’ World Economic Situation and Prospects 2024 report, India emerges as a key player with a projected GDP growth of 6.2% for the upcoming year.
• This forecast, slightly trailing the 6.3% estimate for 2023, underscores the country's robust domestic demand and flourishing manufacturing and services sectors.
• South Asia, driven by India's prowess, is anticipated to witness a 5.2% GDP surge in 2024, following a commendable 5.3% growth in 2023.

Agreements News

Cabinet Approves India-USAID MoU For Railways’ Net-Zero Emission Goal

• In a significant move towards environmental sustainability, the Union Cabinet, under the leadership of Prime Minister Narendra Modi, has approved the Memorandum of Understanding (MoU) between India and the United States Agency for International Development (USAID).
• This collaboration is centered on supporting Indian Railways in achieving a 'net zero carbon emission' goal by 2030, aligning with ambitious environmental targets.
• The strategic alliance aims to modernize utilities, implement advanced energy solutions, foster regional energy integration, encourage private sector engagement, and conduct training sessions, with a focus on renewable energy and energy efficiency.

Indian Railways And CII Ink MoU For Green Initiatives

• Indian Railways continues its commitment to environmental stewardship by renewing its Memorandum of Understanding (MoU) with the Confederation of Indian Industry (CII).
• This collaboration, spanning its third consecutive term, seeks to reduce energy and water consumption, thereby lowering greenhouse gas emissions.
• The partnership, initiated in July 2016, has witnessed notable progress in various green initiatives. This reaffirmation reflects Indian Railways' ongoing dedication to sustainable practices.

Appointments News

Sanjiv Aggarwal Appointed CEO And MD Of NIIFL

• The National Investment and Infrastructure Fund Limited (NIIFL) welcomes Sanjiv Aggarwal as its new Chief Executive Officer and Managing Director.
• Aggarwal, previously a partner at the UK-based private equity firm Actis, brings extensive experience in energy investments, particularly in the Asian market.
• His impressive track record includes successful stints at renowned financial institutions such as Citigroup and ANZ Investment Bank.
• Notably, during his tenure at Actis, he achieved remarkable milestones, including the sale of the Indian renewable energy platform Sprng Energy to Shell Plc for an enterprise value of $1.55 billion in April 2022.

Raghuram Iyer Appointed As CEO Of Indian Olympic Association

• The Indian Olympic Association (IOA) appoints Raghuram Iyer as its new CEO, following a meticulous selection process by the nomination committee.
• With a diverse professional background, Iyer, the former CEO of Rajasthan Royals, has held prominent positions with IPL teams such as Lucknow Super Giants and Rising Supergiants.
• His appointment aligns with the International Olympic Committee's (IOC) recommendations, bringing significant experience to the forefront and contributing to the development of Indian sports.

SEBI Names G Ram Mohan Rao As Executive Director For 3 Years

• The Securities and Exchange Board of India (SEBI) announces G Ram Mohan Rao as the Executive Director (ED) for a three-year tenure.
• Rao, with over 25 years of experience at SEBI, will oversee the investigation and internal inspection departments, emphasizing SEBI's commitment to maintaining market integrity.
• His extensive background includes leadership roles in areas such as inspections, litigation, recovery, investor awareness, and grievance redressal.
• The appointment underscores Rao's proven leadership, demonstrated during his tenure as the Regional Director of the Eastern Regional Office.

Rashmi Shukla Becomes Maharashtra’s First Woman Director General Of Police

• Rashmi Shukla makes history as she becomes Maharashtra's first woman Director General of Police (DGP).
• A distinguished 1988 batch Indian Police Service (IPS) officer, Shukla takes over from Rajnish Seth, her batchmate, who has assumed the role of the chairman of the Maharashtra Public Service Commission (MPSC).
• Before her current appointment, Shukla led the Sashastra Seema Bal (SSB) and served as the Additional Director-General of the Central Reserve Police Force (CRPF).

Science & Technology News

ISRO Tests Fuel Cell On PSLV-C58’S POEM3 Platform Successfully

• On January 1, 2024, the Indian Space Research Organisation (ISRO) achieved a groundbreaking milestone by successfully testing a 100 W class Polymer Electrolyte Membrane Fuel Cell based Power System (FCPS) on its orbital platform, POEM3, during the PSLV-C58 mission.
• This significant accomplishment marks a crucial step in assessing fuel cell technology for future space missions.
• The experiment aimed to evaluate the operation of Polymer Electrolyte Membrane Fuel cells in the challenging space environment, providing valuable data for designing power systems for upcoming space endeavors.

Google DeepMind Introduces Mobile ALOHA Humanoid Technology

• Stanford University, in collaboration with Berkeley University and Meta, introduces Mobile ALOHA, a robotic system designed to enhance the capabilities of bimanual mobile manipulation.
• Developed by Google DeepMind, Mobile ALOHA promises to revolutionize the field of robotics by replicating complex mobile manipulation tasks beyond traditional tabletop scenarios.
• The system focuses on data collection, paving the way for learning and mimicking a diverse range of bimanual activities. This innovation represents a significant leap forward in the realm of humanoid technology.