National News

India's Aviation Minister, Jyotiraditya Scindia, Inaugurates Utkela Airport in Odisha

• Union Civil Aviation Minister Jyotiraditya Scindia, accompanied by Gen Vijay Kumar Singh (Retd), Minister of State for Civil Aviation, inaugurated Utkela Airport in Odisha on August 31, 2023.
• This development comes as part of the ambitious UDAN (Ude Desh Ka Aam Nagrik) scheme, aimed at enhancing regional air connectivity across India.
• The key highlight of this inauguration is the introduction of a direct flight route between Utkela and Bhubaneshwar.
• This air link promises to strengthen regional connectivity and stimulate economic growth within the region.
• Travel between Utkela and Bhubaneshwar will now be remarkably efficient, with the flight covering the distance in just one hour and twenty minutes
• Minister Scindia emphasized that this improved connectivity would catalyze economic activities and create employment prospects in the area.

International News

Georgia Declares October as Hindu Heritage Month

• In a significant move, Governor Brian Kemp of the U.S. state of Georgia has officially declared that the month of October will be celebrated as Hindu Heritage Month within the state.
• This proclamation aligns Georgia with several other states across the United States that have taken similar steps to honor and commemorate Hindu heritage, culture, values, and traditions.
• Georgia joins a growing list of states that have recognized the importance of Hindu heritage and culture. These states include Texas, Ohio, New Jersey, Massachusetts, Florida, Minnesota, Virginia, and others.
• The declaration of Hindu Heritage Month serves as a way to celebrate and acknowledge the contributions and significance of Hinduism in American society.

Indo-US Task Force Aims to Boost Electronics Trade to $100 Billion by 2033

• In a remarkable endeavor to strengthen trade relations between India and the United States within the electronics sector, the Indian Cellular
• Electronics Association (ICEA) has established a dedicated task force to elevate the current Indo-US electronics trade, currently at $8 billion, to an ambitious $100 billion within the next decade.
• ICEA Chairman Pankaj Mohindroo emphasized that achieving this monumental goal would significantly bolster India aspirations to become a global hub for innovation and manufacturing in the electronics sector.
• The Indo-USpartnership encompasses policy and regulatory adaptations aimed at encouraging greater technology sharing, co-development, and co-production opportunities between the two countries industries.

Business News

Rashtriya Chemicals and Fertilizers Gets Navratna Status

• The Department of Public Enterprise (DPE) conferred Navratna Status upon Rashtriya Chemicals and Fertilizers (RCF).
• Navratnas constitute a group of public sector firms endowed with the financial independence to invest up to Rs 1000 crore without necessitating approval from the central government.
• Prior to this, the company had attained Miniratna Status from the Department of Public Enterpris

• Rashtriya Chemicals Fertilizers Ltd. (RCF) is an Indian government-owned enterprise headquartered in Mumbai, primarily engaged in the production of chemicals and fertilizers.
• It operates under the ownership of the Government of India and falls under the administrative purview of the Ministry of Chemicals and Fertilizers. Chairman MD of Rashtriya Chemicals and Fertilizers (RCF) is S. C. Mudgerikar.

CCI Clears Air India-Vistara Merger

• The Competition Commission of India (CCI) has recently given the green light to the merger of Tata SIA Airlines, which operates under the Vistara brand, with Air India, a subsidiary of Tata Sons Pvt. Ltd.
• This landmark merger also involves Singapore Airlines (SIA) and entails the acquisition of shares in the merged entity, Air India, subject to certain voluntary commitments.
• TSAL (Tata SIA Airlines Limited) is a joint venture between the Tata Group and the Singapore Airlines with the former holding 51% and the latter 49%.

Economy News

Moody Upgrades India 2023 GDP Growth Forecast to 6.7%

• Global rating agency Moody Investor Service has revised its economic growth projection for India, providing a positive outlook for the year 2023.
• The agency has increased its forecast for India Gross Domestic Product (GDP) growth to 6.7 percent, up from the previous estimate of 5.5 percent.
• This adjustment is attributed to the notable performance in the second quarter, driven by robust expansion in services and capital expenditures, resulting in a 7.8 percent real GDP growth compared to the previous year.

India August GST Collection Surges to ₹1.59 Trillion

• In August, India witnessed a notable surge in Goods and Services Tax (GST) collection, amounting to ₹1.59 trillion, signifying an 11% increase compared to the same period last year.
• This impressive growth can be attributed to enhanced compliance and anti-evasion measures put in place.
• The moderation in collection is primarily attributed to subdued growth in integrated GST (IGST) and the cess on imports, which increased by only 3% in August.
• Importantly, both imports and IGST collections have experienced fluctuations in recent months.
• Several major states reported robust growth rates in GST collection.
• Maharashtra recorded a remarkable 23% increase at ₹23,282 crore, Karnataka collection surged by 16% to ₹11,116 crore, and Gujarat collection increased by 12% to ₹9,765 crore, as per official data.

Ranks Reports News

All-India House Price Index Surges 5.1% in Q1FY24: RBIs Latest Data

• The Reserve Bank of India (RBI) has unveiled its latest data, revealing a significant upswing in the All-India House Price Index (HPI).
• In the April-June quarter of the fiscal year 2023-24, the HPI recorded a robust growth rate of 5.1%.
• This marks a noteworthy increase compared to the 3.4% growth observed during the same period in the previous year.
• The RBI quarterly HPI report draws upon transaction-level data sourced from registration authorities in ten major cities across India.
• These cities include Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai. Among the cities, Delhi stands out with an impressive annual HPI growth rate of 14.9%.
• This substantial increase underscores the city robust real estate market.

Appointments News

Manish Desai Takes Charge of Press Information Bureau (PIB)

• The Ministry of Information and Broadcasting has made significant appointments, including the transfer of Manish Desai, the Central Bureau of Communications (CBC) chief, to lead the Press Information Bureau (PIB).
• Manish Desai, a distinguished officer of the Indian Information Service (IIS) since 1989, has taken on several critical roles in his career.
• He held the position of CBC chief, overseeing the government advertising and public communication arm. His responsibilities encompassed a broad spectrum of communication activities across various media platforms, including print, electronic, outdoor, transit, and new media.

R Madhavan Nominated as President of FTII Pune

• Renowned actor R Madhavan has been nominated as the new President of the Film and Television Institute of India (FTII), Pune.
• Additionally, he will serve as the Chairman of the governing council of FTII.
• Madhavan nomination follows the recent success of his film, Rocketry:
• The Nambi Effect,which earned national recognition. The film secured the prestigious Best Feature Film award during the 69th National Film Awards.

Awards News

RBI Governor Shaktikanta Das Rated In Global Finance Central Banker Report 2023

• In a recent announcement that has garnered international attention, Reserve Bank of India (RBI) Governor Shaktikanta Das has been awarded an rating in the prestigious Global Finance Central Banker Report Cards 2023.
• This commendation places him at the pinnacle of central bank governors worldwide. The announcement was made by the RBI through its official communication channel on social media platform (formerly known as Twitter).
• This recognition has placed Shaktikanta Das at the top of the list of three central bank governors who have been rated .
• Joining Shaktikanta Das in the elite category of central bank governors who earned an grade in the Global Finance Central Banker Report Cards 2023 are Thomas J. Jordan from Switzerland and Nguyen Thi Hong from Vietnam.
• This recognition solidifies Governor Das standing as one of the most influential and effective central bank leaders in the world.

Science and Technology News

ISRO Aditya L1 Mission Launched

• ISRO Aditya L1 mission was launched successfully on September 2, 2023, at 11:50 AM IST from the Satish Dhawan Space Centre in Sriharikota, India.
• The mission is India first dedicated solar mission and will study the Sun atmosphere, including the chromosphere and corona.
• It will also study the solar wind and its interaction with the Earth atmosphere.
• The Aditya L1 spacecraft is a 1.5-ton satellite that is equipped with seven payloads.
• The payloads will study the Sun atmosphere using a variety of methods, including remote sensing and in-situ measurements.
• The spacecraft will be placed in a halo orbit around the Sun-Earth Lagrange Point 1 (L1), which is located about 1.5 million kilometers from Earth.
• The Aditya L1 mission is expected to last for five years. During this time, it will collect valuable data about the Sun that will help scientists to better understand its behavior and its impact on Earth.