Daily Current Affairs of 01st January 2024 in English

Introduction:

Daily Current Affairs of 01st January 2024, witnessed a series of significant events across various domains, ranging from infrastructure development to geopolitical concerns, cultural celebrations, and scientific discoveries. Here's an in-depth look at the noteworthy occurrences of the day.

Top Current Affairs and News Headlines – January 01, 2024

UAE's $2 Billion Investment in Indian Food Parks Commences

The United Arab Emirates (UAE) has officially kicked off its long-anticipated $2 billion investment in food parks across India, starting with the state of Gujarat. The two nations resolved concerns related to restrictions imposed by the Essential Commodities Act, paving the way for the initiation of this substantial investment. This endeavor is part of the I2U2 (India-Israel-UAE-USA) initiative, a collaborative effort among four nations to establish integrated food parks in India, aimed at enhancing food security in the Middle East and South Asia.

The inaugural food park is slated to be established near Kandla, where investors will engage in contract farming arrangements with local communities. The UAE had initially pledged this investment in 2018, and it has now become an integral component of the I2U2 initiative, which was announced during the Leaders' Summit in July 2022. Notable leaders, including Prime Minister Narendra Modi, US President Joe Biden, former Israeli Prime Minister Yair Lapid, and UAE President Sheikh Mohamed bin Zayed Al Nahyan, virtually participated in this summit.

These food parks are envisioned to incorporate state-of-the-art climate-smart technologies, focusing on reducing food waste, conserving fresh water, and utilizing renewable energy sources. The leaders, in a joint statement, emphasized their commitment to implementing these advancements as part of sustainable food production.

Gujarat Introduces India's First Submarine Tourism in Dwarka

The Gujarat government is set to introduce a pioneering submarine service for tourists, offering them the  opportunity to explore the marine life around Dwarka, an ancient city believed to be submerged under the sea. A memorandum with Mazgaon Dock shipbuilders has been signed to implement this project, adding cultural significance to the venture as Dwarka is recognized as the 'city of the Hindu God Lord Krishna.' This unique underwater tourism facility, a first of its kind in India, is expected to be operational before Diwali in October 2024.

Under the proposed plan, tourists will descend 100 meters below the sea in submarines to witness underwater marine life. Each submarine will accommodate 24 tourists, guided by two experienced pilots and a professional crew, ensuring a captivating window view for all passengers.

Innovative Aero Engine R&D Facility Inaugurated in Bengaluru

Defence Secretary Giridhar Aramane inaugurated a cutting-edge design and test facility at the Aero Engine Research and Development Centre (AERDC) of Hindustan Aeronautics Limited (HAL) in Bengaluru, Karnataka. Spanning over 10,000 square meters, this facility is poised to become a hub of innovation in the field of aerospace engineering.

Equipped with advanced setups, special machines, and computational tools, the facility underscores HAL's commitment to staying at the forefront of technological advancements in the aerospace sector. It includes setups for testing various components, such as air producers for Jaguar, Gas Turbine Starter Units, Auxiliary Power Units, and Gas Turbine Electrical Generators for different aircraft.

India's First 'Zero Waste Street Food Festival' Inaugurated in Delhi

Hardeep Singh Puri, Minister of Housing & Urban Affairs and Petroleum & Natural Gas, inaugurated the National Street Food Festival 2023 in New Delhi. Organized by the National Association of Street Vendors of India (NASVI) at Jawaharlal Nehru Stadium, this festival stands out as the first 'Zero Waste Street Food Festival' in India.

Minister Puri commended NASVI for providing training to 150,000 street vendors in food safety and hygiene. Additionally, he highlighted the upcoming launch of two Regional Street Food Vendors Training Institutes by NASVI in 2024 in Delhi and Patna.

Sukanya Samriddhi Schemes' Interest Rates Increased for Q4FY24

The Central Government has raised the interest rates for some small savings schemes, including the Sukanya Samriddhi Scheme and 3-year Time Deposit, for the January-March 2024 quarter. The revised interest rate for the Sukanya Samriddhi Scheme is set at 8.2%, while the 3-year Time Deposit will carry a rate of 7.1% for the last quarter of the current fiscal year.

Previously, the interest rates for these schemes were 8.0% and 7.1%, respectively. The new rates aim to provide competitive returns to investors. Notably, the interest rates on small savings schemes had remained unchanged for over three years, with the last adjustment made in April-June 2020.

Arvind Panagariya Appointed as 16th Finance Commission Chairman

Former NITI Aayog vice chairman Arvind Panagariya has been appointed as the Chairman of the 16th Finance Commission by the government. Ritvik Ranjanam Pandey, Joint Secretary in the finance ministry, will serve as the secretary to the commission. The commission is tasked with submitting its report for the five years spanning 2026-27 to 2030-31 to the President by October 31, 2025.

The Finance Commission, a constitutional body, plays a crucial role in providing recommendations on center-state financial relations. The previous 15th Finance Commission, led by NK Singh, had recommended allocating 41% of the divisible tax pool of the Centre to states during the five years from 2021-22 to 2025-26.

Key Appointments in the Banking & Insurance Sector

Several key appointments have been made in the banking and insurance sector, including S Sunder Krishnan as the Chief Risk Officer of LIC, CS Rajan as the Part-time Chairman of Kotak Mahindra Bank, Satish Kumar Kalra as the Interim MD & CEO of North East SFB, Pramod Agrawal as the Chairman of the Bombay Stock Exchange (BSE), and Sandeep Batra as the Executive Director (ED) of ICICI Bank.

International Appointment: Andrew Saberton as Deputy Executive Director of UNFPA

Andrew Paul Saberton of the United Kingdom has been appointed as Assistant Secretary-General and Deputy Executive Director (Management) of the United Nations Population Fund (UNFPA) by UN Secretary-General António Guterres. Saberton, who has been serving in an interim capacity since November 2023, succeeds Ib Petersen of Denmark.

Saberton brings extensive experience to his role, having served as UNFPA Comptroller and Director for the Division of Management Services since September 2016. His previous roles include Chief of the Finance Branch and Chief of the Accounts Section at UNFPA, as well as Senior Finance Officer at the United Nations Industrial Development Organization from 2001 to 2009.

Other Recent Appointments

Uday A Kaole as CMD of Mahanadi Coalfields Ltd, Pramod Sharma as Director (Works) of National High-Speed Rail Corporation Limited (NHSRCL), Maheshwar Dayal as DG of Prisons and Correctional Services, Aditya Jairaj as CEO and MD of Stellantis India, and Anish Shah as President of FICCI (Federation of Indian Chambers of Commerce and Industry).

ISRO Successfully Launches XPoSat Aboard PSLV-C58

The Indian Space Research Organization (ISRO) has achieved a significant milestone with the successful launch of the PSLV-C58 carrying the X-ray Polarimeter Satellite (XPoSat). The launch, part of the 60th mission of the Polar Satellite Launch Vehicle (PSLV), took place at 9:10 a.m. on January 1 from the Satish Dhawan Space Centre in Sriharikota.

XPoSat, India's first dedicated scientific satellite for space-based polarization measurements of X-ray emissions from celestial sources, carries two key payloads: POLIX (Polarimeter Instrument in X-rays) developed by Raman Research Institute (RRI) Bengaluru, and XSPECT (X-ray Spectroscopy and Timing) by the Space Astronomy Group of URSC, Bengaluru. This successful launch positions India as the second nation globally to deploy an observatory for studying astronomical sources such as black holes and neutron stars.

Joint Military Exercise 'Desert Cyclone' Between India and UAE

India and the UAE are set to conduct their inaugural joint military exercise, 'Desert Cyclone,' from January 2 to January 15, 2024, in the state of Rajasthan. This collaborative effort aims to enhance interoperability by sharing knowledge and best practices in urban operations. The exercise will focus on joint maneuvers, particularly in urban settings, to bolster the skills and coordination of both armed forces.

Other Recent Military Exercises

The 4th edition of Military Exercise VINBAX-2023 between India and Vietnam in Hanoi, Vietnam.

The 14th edition of Exercise Vajra Prahar2023 between India and the USA in Umroi, Meghalaya.

The 9th edition of Mitra Shakti 2023 between India and Sri Lanka in Aundh, Pune.

The 7th edition of 'Exercise KAZIND-2023' between India and Kazakhstan in Otar, Kazakhstan.

Coastal Security Exercise Sagar Kavach conducted in Andhra Pradesh, Tamil Nadu, and Puducherry.

Australian Cricketer David Warner Retires from ODI

Australian cricketer David Warner has announced his retirement from One Day Internationals (ODIs). The two-time ODI World Cup winner had earlier declared that he would be concluding his Test career after Australia's upcoming Test against Pakistan in Sydney. However, Warner has expressed his availability for selection in the Champions Trophy in 2025. As Australia's sixth-highest run-scorer in the ODI format, Warner has made significant contributions, particularly in ODIs.

Other Recent Retirements

Dean Elgar from international cricket in South Africa.

Asad Shafiq from all forms of cricket in Pakistan.

Gurkeerat Singh Mann from international cricket in India.

Meg Lanning from international cricket in Australia.

Sunil Narine from international cricket in the West Indies.

David Willey from international cricket in England.

Maharashtra Designates January 15 as State Sports Day

The Maharashtra government has decided to observe January 15 annually as the state sports day to commemorate the birth anniversary of wrestler Khashaba Jadhav. Jadhav holds the distinction of being the first Indian to secure an individual medal at the Olympics in 1952, winning a bronze medal in wrestling. Chief Minister Eknath Shinde made this announcement in Pune, and a government resolution has been issued to encourage schools and colleges to organize sporting events on this day. The state sports day will also include the felicitation of international and national sports personalities.

Global Family Day Celebrated on January 1

Global Family Day is celebrated worldwide on January 1 each year, symbolizing the commencement of the new year with a focus on peace, unity, and brotherhood among people and nations. The concept of this day originated in November 1997, inspired by the book "One Day In Peace – January 1, 2000." Released by the United Nations, the book aligns with the UN General Assembly's launch of the International Decade for the Culture of Peace and Non-Violence for the Children of the World in the same period. The day encourages global collaboration and understanding to foster a sense of shared humanity.