• Bina Modi, Chairperson of Modi Enterprises, was honoured with the ‘Outstanding Business Woman of the Year – 2023’ Award by Rajnath Singh, Defence Minister of India.
• The award was presented to her at a prestigious conference by the Indo-American Chamber of Commerce (IACC) on ‘Strengthening Indo-US Relationship in Amritkal-Aatmanirbhar Bharat’.
• It recognizes her remarkable contributions to the industry that place her among the distinguished few women chairpersons of Fortune500 and ET500 India companies.
• Bina Modi, the Chairperson of Modi Enterprises – KK Modi Group, also heads the Group’s FMCG giant Godfrey Phillips India and one of India’s agro-chemical leaders, Indofil, as the Chairperson and Managing Director.

• Iran announced the initiation of a 15-day visa-free policy for Indian tourists visiting the country (through air border).
• Under the new order, Indian citizens would be allowed to enter Iran with ordinary passports once every six months and with a maximum stay of 15 days which will not be extended.
• The visa abolition only applies to individuals entering Iran for tourism purposes
  • If Indian nationals wish to stay for a longer period or make multiple entries within a six-month period require other types of visas, they must obtain the necessary visas through the respective representations of Iran in India.

• THE Electricity 2024 report was recently released by International Energy Agency.

Major India Specific findings

• India’s electricity demand will outpace China’s and have the world’s fastest growth rate by 2026.
• India’s annual average electricity demand growth is pegged at 5% over 2024-2026.
• Coal will meet 68% of India’s electricity needs in 2026.
• With China and India leading new nuclear reactor construction, Asia’s nuclear generation will exceed North America’s by 2026.
• The contribution of renewable energy (RE) generation remained relatively steady, constituting 21% of electricity generation in 2023.

• The Healthy Indian Project (THIP), a health information platform in India, is included as a member of the World Health Organization’s Vaccine Safety Net (VSN).

ABOUT VSN

• VSN, established by the World Health Organization (WHO) in 2003, serves as a global network of websites that provide trustworthy and verified vaccine safety information.
• Global Advisory Committee on Vaccine Safety (GACVS), established in 1999, supports the VSN by providing advice and criteria for website quality and content.
• VSN is continuously expanding. To date, 110 websites from 45 countries provide vaccine safety information in 43 languages.

ABOUT THIP

• The Healthy Indian Project (THIP) is a prominent health information platform in India, dedicated to providing credible and verified health information, with a focus on verified vaccine safety information, to the diverse population of the country.
• Its goal is to improve health literacy among Indians.
• The Healthy Indian Project (THIP) is privately funded by its directors.
• The company is not affiliated to any political institution.

• Annual Survey of Industries (ASI) for the financial years 2020-21 and 2021-22 was recently released.

MAJOR FINDINGS

• At the aggregate level, gross value added grew by 8.8 per cent in 2020-21.
• Gujarat led in GVA in 2020-21 and ranked second in 2021-22, while Maharashtra topped in 2021-22, followed by Tamil Nadu, Karnataka, and Uttar Pradesh.
• The industries that drove growth during 2021-22 were manufacture of basic metal, coke and refined petroleum products, pharmaceuticals, motor vehicles, and chemicals.
• Total employment in the sector rebounded in 2021-22, growing by 7.0% year-on-year and exceeding pre-pandemic levels.
• The share of workers that were self-employed rose from 52.2 per cent in 2017-18 to 3 per cent in 2022-23.

ABOUT THE SURVEY

• The Annual Survey of Industries (ASI) is the principal source of industrial statistics in India.
• ASI is being conducted since 1959.
• From ASI 2010-11, the Survey is being conducted under the Collection of Statistics Act, 2008.
• Ministry- Ministry of Statistics and Program Implementation.
• It covers all factories registered under the Factories Act, 1948. I t also covers unit under the Bidi and Cigar Workers (Conditions of Employment) Act 1966 etc.
  • These surveys cover factories employing 10 or more workers using power and those employing 20 or more workers without power.
  • Defence establishments, oil storage and distribution depots, etc. are not covered.

• Researchers at GRAPES-3 have identified a distinctive characteristic in the cosmic-ray proton spectrum, particularly at an energy level of approximately 166 tera-electron-volt (TeV).
• This revelation spans a measurement range from 50 TeV to slightly over one peta-electron-volt (PeV), sparking potential shifts in our comprehension of cosmic ray origins, their acceleration processes, and their movement within the Milky Way.

ABOUT COSMIC RAYS

• Cosmic rays, first discovered over a century ago, constitute the most energetic particles in the universe.
• These particles uniformly bombard Earth from all directions, penetrating the atmosphere and generating a cascade of secondary particles such as electrons, photons, muons, protons, and neutrons, which reach the ground at nearly light speed.

ABOUT GRAPES-3 EXPERIMENT

• The GRAPES-3 experiment is located at Ooty, Tamil Nadu.
• It started as a collaboration of the Tata Institute of Fundamental Research, Mumbai, India and the Osaka City University, Osaka, Japan.
• At present many institutions from India and Japan are in collaboration.
• GRAPES-3 (Gamma Ray Astronomy PeV EnergieS phase-3) is designed to study cosmic rays with an array of air shower detectors and a large area muon detector.
• It aims to probe acceleration of cosmic rays in the following four astrophysical settings. These include acceleration of particles to,
  • ~100 MeV in atmospheric electric fields through muons,
  • ~10 GeV in Solar system through muons,
  • ~1 PeV in our galaxy through nuclear composition of cosmic rays,
  • ~100 EeV in nearby universe through measurement of diffuse γ-ray flux.

• Objectives of the GRAPES-3 Experiment- Study of
  • The origin, acceleration and propagation of >1014 eV cosmic rays in the galaxy and beyond.
  • Existence of “Knee” in the energy spectrum of cosmic rays.
  • Production and/or acceleration of highest energy (~1020 eV) cosmic rays in the universe.
  • Astronomy of multi-TeV γ-rays from neutron stars and other compact object.
  • Sun the closest astrophysical object, accelerator of energetic particles and its effects on the Earth.

• The Bharat Rang Mahotsav (BRM 2024), recognized as the world’s largest theatre festival, was inaugurated at National Centre for the Performing Arts (NCPA) in Mumbai recently.
• The Bharat Rang Mahotsav is a 21-day cultural event featuring over 150 plays, workshops, and discussions.
• The festival will be held in 15 cities across India, showcasing the country’s vibrant performing arts and culture.
• This edition holds special significance as it commemorates the 25th anniversary of the Bharat Rang Mahotsav, bringing together theatre enthusiasts, artists, and scholars in a testament to cultural richness and artistic exchange.
• The festival’s overarching theme, ‘Vasudhaiva Kutumbakam, Vande Bharangam,’ underscores the importance of global unity, emphasizing social harmony through the powerful medium of performing arts.
• This year, National School of Drama(NSD) has introduced Rang Haat, an innovative initiative aiming to create Asia’s first global theatre market.
  • It brings together theatre artists, programmers, patrons, and supporters to discover hidden talent, showcase international projects, and foster creative and financial partnerships.

ABOUT NSD

• The National School of Drama is one of the foremost theatre training institutions in the world and the only one of its kind in India.
• It was set up by the Sangeet Natak Akademi as one of its constituent units in 1959.
• In 1975, it became an independent entity and was registered as an autonomous organization under the Societies Registration Act XXI of 1860.
• It is fully financed by the Ministry of Culture.
• The School has two performing wings – the Repertory Company and Theatre-in-Education Company.

• The Defence Research and Development Organisation (DRDO) recently achieved a significant milestone with the completion of the four flight trials of the HighSpeed Expendable Aerial Target-ABHYAS at the Integrated Test Range, Chandipur in Odisha.

ABOUT ABHYAAS

• ABHYAS, designed and developed by the Aeronautical Development Establishment of the DRDO, represents a cutting-edge innovation in aerial target systems.
• It is designed for autonomous flying with the help of an auto pilot indigenously made by the ADE.
• It has Radar Cross Section, Visual and Infrared augmentation system required for weapon practice.
• It has a laptop-based Ground Control System with which the aircraft can be integrated and pre-flight checks, data recording during the flight, replay after the flight and post-flight analysis can be carried out.
• ABHYAS requires minimum logistics and is cost effective compared to imported equivalents.
• Fully autonomous flight capability– Programmed with advanced algorithms and decision-making logic, the vehicle can be operated independently executing pre-defined mission profiles with precision and reliability.
• It utilises twin under slung booster to provide initial acceleration.
• Powered by a compact gas turbine, ABHYAS demonstrates remarkable endurance and sustains high subsonic speeds throughout its flight profile.
• It is equipped with the state-of-the-art MicroElectromechanical Systems based Inertial Navigation Systems.
• The systems tested recently were realised through Production Agencies – Hindustan Aeronautics Limited (HAL) and Larsen & Toubro (L&T) Defence.
• The system has export potential and can be offered to friendly countries.

• In recognition of his distinguished contributions to the realm of arts, music maestro Som Dutt Battu, aged 86 and hailing from Shimla, has been selected for the prestigious Padma Shri Award.

DETAILS ABOUT THE MAESTRO

• Among the 110 individuals chosen for the Padma Shri Award for this year, Som Dutt Battu stands as the sole representative from Himachal Pradesh.
• His notable work in the realms of Himachali folk music and classical music has left an indelible mark on the cultural landscape.
• He is a Hindustani classical vocalist of the Patiala Gharana.
• He was born on July 5, 1937, in Jasur, Kangra district.
• He is a resident of Hori (Byoliya) village in Shimla .
• His father, Pt. Ram Lal Battu, was an artist associated with the renowned Shyam Chaurasi Gharana.
• He has previously been recognized with the ‘Sangeet Natak Akademi Award’ for his significant contributions to drama, dance, music, and singing.
• Other accolades include-
  • the ‘Himachal Gaurav,’ ‘Punjab Sangeet Ratna Award,’ ‘Life Time Achievement Award,’ and the Jaswant Singh Award, highlighting the profound impact of his artistry in the field of music.

1. HOUSING

• Government will launch a scheme to help deserving sections of the middle class “living in rented houses, or slums, or chawls and unauthorized colonies” to buy or build their own houses.
• Rooftop solarization — one crore households will be enabled to obtain up to 300 units free electricity every month.
• PM Awas Yojana (Grameen)–Two crore more houses will be taken up in the next five years to meet the requirement arising from increase in the number of families.

2. HEALTH

• Vaccination for girls in age group of 9 to 14 years for prevention of cervical cancer.
• Government plans to set up more medical colleges by utilizing the existing hospital infrastructure under various departments.
• Upgradation of anganwadi centres under “Saksham Anganwadi and Poshan 2.0” will be expedited.
• U-WIN platform for managing immunization and intensified efforts of Mission Indradhanush will be rolled out expeditiously.
• Extension of healthcare cover under Ayushman Bharat scheme to all ASHA workers, Anganwadi Workers and Helpers.

3. AGRICULTURE AND RELATED SECTORS

• Application of Nano DAP on various crops will be expanded in all agro-climatic zones.
• A strategy will be formulated to achieve ‘atmanirbharta’ for oil seeds.
• Focussed oil seeds: mustard, groundnut, sesame, soybean, and sunflower.
• A comprehensive programme for supporting dairy farmers will be formulated. The success of existing schemes such Rashtriya Gokul Mission, National Livestock Mission, and Infrastructure Development Funds for dairy processing and animal husbandry will act as guiding light for such a programme.
• Implementation of Pradhan Mantri Matsya Sampada Yojana (PMMSY), according to the speech, will be stepped up to-
  • enhance aquaculture productivity from existing 3 to 5 tons per hectare,
  • double exports to ` 1 lakh crore and
  • generate 55 lakh employment opportunities in near future.
• Five integrated aquaparks will be setup.

4. WOMEN

• Eighty-three lakh SHGs with nine crore women are transforming rural socio-economic landscape with empowerment and self-reliance”, said the Finance Minister.
• The government aims to enhance the target for Lakhpati Didi from 2 crore to 3 crore.

5. Youth And Technology

• For the tech savvy youth — A corpus of rupees one lakh crore will be established with fifty-year interest free loan. “The corpus will provide long-term financing or refinancing with long tenors and low or nil interest rates”, said the Finance Minister.
• A new scheme will be launched for strengthening deep-tech technologies for defence purposes and expediting ‘atmanirbharta’.

6. INFRASTRUCTURE DEVELOPMENT

• The outlay for the next year is being increased by 11.1 per cent to eleven lakh, eleven thousand, one hundred and eleven crore rupees. This would be 3.4 per cent of the GDP.
• Three major economic railway corridor programmes will be implemented. These are:
  • energy, mineral and cement corridors,
  • port connectivity corridors, and
  • high traffic density corridors.
  • The projects have been identified under the PM Gati Shakti for enabling multi-modal connectivity.
• Expansion of Metro and NaMO Bharat will be supported in large cities focusing on transit-oriented development.

7. ENVIRONMENT AND GREEN ENERGY

• Viability gap funding will be provided for harnessing offshore wind energy potential.
• Coal gasification and liquefaction capacity of 100 MT will be set up by 2030.
• Financial assistance will be provided for procurement of biomass aggregation machinery.
• Phased mandatory blending of compressed biogas (CBG) in compressed natural gas (CNG) for transport and piped natural gas (PNG) for domestic purposes will be mandated.
• Electric Vehicle Ecosystem– Support to manufacturing and charging infrastructure.
• Greater adoption of e-buses for public transport networks will be encouraged through payment security mechanism.
• For promoting green growth, a new scheme of bio-manufacturing and bio-foundry will be launched.
• Blue Economy 2.0— A scheme for restoration and adaptation measures, and coastal aquaculture and mariculture with integrated and multi-sectoral approach will be launched.

8. TOURISM

• States will be encouraged to take up comprehensive development of iconic tourist centres, branding and marketing them at global scale.
• A framework for rating of the centers based on quality of facilities and services will be established.
• Long-term interest free loans will be provided to States for financing such development on matching basis.
• For domestic tourism— projects for port connectivity, tourism infrastructure, and amenities will be taken up on our islands. It will also include Lakshadweep.

9. FDI

• The FDI inflow during 2014-23 was USD 596 billion marking a golden era.
• For encouraging sustained foreign investment– Negotiating bilateral investment treaties with the foreign partners, in the spirit of ‘first develop India’.

10. REFORMS IN THE STATES

• A provision of seventy-five thousand crore rupees as fifty-year interest free loan is proposed this year to support reforms by the State Governments.

11. Revised Estimates 2023-24

• The Revised Estimate of the total receipts other than borrowings is Rs. 27.56 lakh crore, of which the tax receipts are 23.24 lakh crore.
• The Revised Estimate of the total expenditure is Rs. 44.90 lakh crore.
• The revenue receipts at Rs. 30.03 lakh crore are expected to be higher than the Budget Estimate.
• The Revised Estimate of the fiscal deficit is 5.8 per cent of GDP

12. BUDGET ESTIMATES 2024-25

• THE fiscal deficit in 2024-25 is estimated to be 5.1 per cent of GDP, adhering to that path.
• The scheme of fifty-year interest free loan for capital expenditure to states will be continued this year with total outlay of Rs. 1.3 lakh crore.
• The total receipts other than borrowings and the total expenditure are estimated at Rs. 30.80 and 47.66 lakh crore respectively.
• The tax receipts are estimated at Rs. 26.02 lakh crore.

13. DIRECT TAXES

• Over the last ten years, the direct tax collections have more than trebled and the return filers swelled to 2.4 times.
• Under the new tax scheme, there is now no tax liability for tax payers with income up to Rs. 7 lakh, up from Rs. 2.2 lakh in the financial year 2013-14.
• The threshold for presumptive taxation for retail businesses was increased from Rs. 2 crore to Rs. 3 crore.
• The threshold for professionals eligible for presumptive taxation was increased from Rs. 50 lakh to Rs. 75 Lakh.
• Corporate tax rate was decreased from 30 per cent to 22 per cent for existing domestic companies and to 15 per cent for certain new manufacturing companies.
• The age-old jurisdiction-brd assessment system was transformed with the introduction of Faceless Assessment and Appeal, thereby imparting greater efficiency, transparency and accountability.
• Introduction of updated income tax returns, a new Form 26AS and prefilling of tax returns have made filing of tax returns simpler and easier.
• Average processing time of returns has been reduced from 93 days in the year 2013-14 to a mere ten days this year, thereby making refunds faster.

14. INDIRECT TAXES

• GST has reduced the compliance burden on trade and industry.
• Tax base of GST more than doubled.
• The average monthly gross GST collection has almost doubled to Rs. 1.66 lakh crore.
• States’ SGST revenue, including compensation released to states, in the post-GST period of 2017-18 to 2022-23, has achieved a buoyancy of 1.22.
• Number of steps were taken in Customs to facilitate international trade.