• Prime Minister Fumio Kishida is set to announce the creation of a $10 million (¥1.33 billion) U.N. fund to encourage young people around the world to visit Hiroshima and Nagasaki, where atomic bombs were dropped in 1945.
• PM Kishida will detail the plan during a speech at a review conference of the Treaty on the Non-proliferation of nuclear weapons.
• He will also express his desire for early enactment of the Comprehensive Nuclear Test Ban Treaty (CTBT) and host summit-level talks in September geared toward that purpose.
• Kishida is scheduled to attend the conference during a three-day trip to the United States, becoming the first Japanese prime minister to do so.

Significance

• The International Day of Friendship is an initiative that follows on the proposal made by UNESCO defining the Culture of Peace as a set of values, attitudes and behaviours that reject violence and endeavour to prevent conflicts by addressing their root causes with a view to solving problems.

History

• The International Day of Friendship was proclaimed in 2011by the UN General Assembly with the idea that friendship between peoples, countries, cultures and individuals can inspire peace efforts and build bridges between communities.
• The resolution places emphasis on involving young people, as future leaders, in community activities that include different cultures and promote international understanding and respect for diversity.

• Raghuram Rajan praises Chhattisgarh’s Godhan Nyay Yojna, calls it ‘best bottom-up approach’ in country.
• Through this, we can not only get a better solution for farming and livelihood but also reduce the problems of decreasing fertility of the land due to indiscriminate use of chemical fertilizers and pesticides in agriculture. The availability of food items can also be improved greatly. Many problems like toxicity, damage to the environment and global warming can be reduced to a great extent.
• Appreciating the management of livestock care, arrangement of free fodder and water, health check-up, treatment and vaccination of animals in the Gauthan of Navagaon, he observed that the income-oriented activities like organic manure production, mushroom production, vegetable production at a large scale, oil distillation, fisheries, poultry, goat rearing etc. are conducted by women groups in Gauthan.
• The livelihood-oriented activities conducted in the Gauthans have proved to be helpful in providing economic support to the villagers during Covid-19.
• Under the Godhan Nyay Yojana, the purchase of cow dung in Gauthans for Rs 2 per kg and its use in the manufacture of vermicompost, super compost and farming is a commendable initiative by the state government. This will improve the fertility of the land as well as reduce the cost of agriculture and cut down the risk of food poisoning due to the use of harmful pesticides.
• The scheme was launched by Chhattisgarh Chief Minister Bhupesh Baghel in July 2020.

• The Indian Army will conduct separate exercises with Oman and Vietnam starting August 1.
• The fourth edition of India-Oman joint military exercise ‘Al Najah-IV’ is scheduled to take place at Mahajan field firing ranges (Rajasthan) from August 1 to 13.
• The Royal Army of Oman contingent arrived at the location; the Indian Army is represented by 18 Mechanised Infantry.
• The third edition of Vietnam-India Army exercise ‘Ex VINBAX 2022’ is scheduled to start at Chandimandir from Aug 1 to 20.
• The theme is employment and deployment of an ‘engineers’ company’ and a medical team as part of UN contingent for peacekeeping ops.

• A grand event will be organised on July 31 under the chairmanship of Chief Minister Jai Ram Thakur at the historic Chowgan under the 75 years of Progressive Himachal Establishment programme.
• The CM will also preside over the concluding ceremony of the Historic Minjar Fair.
• According to Chamba Sub-Divisional Magistrate (SDM), exhibitions based on the theme of “Himachal – Tab Se Ab Tak” would be organised.
• It would showcase ‘Pragati Yatra’ during the 75 years of the state’s existence.
• These would include health, horticulture, agriculture, tourism, education, public works, industry, Jal shakti, social justice and empowerment and energy departments.

• The nine-day Shravan Ashtami fair that began at the Chintpurni shrine in Una District.
• In order to ensure safety and security of the temple and the visitors, Una District Magistrate Raghav Sharma has imposed Section 144 in the entire district from July 29 to August 6, the last day of the fair. No person, except personnel of the police force on duty have been allowed to carry firearms in any part of the district.
• The DM has also banned the use of public address systems at or near the temple premises, except the public address system of the temple administration, which is used for proper management in the temple premises.
• Use of brass bands and other musical instruments has also been banned. Any person found carrying such musical instruments will have to deposit these at the police barriers set up on the various roads leading to the temple.
• Setting up langars, use of fire crackers and littering at public places has also been banned.
• However, langars can be set up at designated places after paying due fees and on the written permission of Additional Deputy Commissioner Dr Amit Kumar, who is also Magistrate of the fair.

• Prime Minister Narendra Modi is set to launch the Ministry of Power’s flagship Revamped Distribution Sector Scheme, which is aimed at improving the operational efficiencies and financial sustainability of the Distribution Companies (DISCOMs) and power departments.
• The scheme will be launched by PM Modi during a programme marking the culmination of ‘Ujjwal Bharat Ujjwal Bhavishya – Power @2047’ on 30 July 2022 via video conferencing.
• With an outlay of over Rs 3 lakh crore over a period of five years from FY 2021-22 to FY 2025-26, the scheme aims to provide financial assistance to DISCOMs for modernisation and strengthening of distribution infrastructure, focussing on improvement of the reliability and quality of supply to end consumers.
• It also aims to reduce the AT&C (Aggregate Technical and Commercial) losses to pan-India levels of 12-15 per cent and ACS-ARR (Average Cost of Supply-Average Revenue Realised) gap to zero by 2024-25 by improving the operational efficiencies and financial sustainability of all state-sector DISCOMs and power departments.

UDAY Scheme – Centrally Sponsored Scheme

• The UDAY scheme was launched on November 15, 2015, under the Government of India for operational and financial turnaround of the Power Distribution Companies (DISCOMs) owned by any state.
• This scheme was established with a vision to provide affordable and accessible 24×7 Power to all. UDAY scheme also aims in providing a solution for revenue-side efficiency as well as cost-side efficiency.

• The Indian Air Force (IAF) is set to retire a squadron of MiG-21 Bison aircraft by September 30.
• After that only three squadrons of the aircraft will remain in service, which would be phased out by 2025.
• According to reports, the 51 Squadron based out of Srinagar airport is being number plated on September 30. Thereafter, every year one squadron will be fitted with a number plate.
• The 51 Squadron is famous for thwarting Pakistan’s air strike on India on February 27, 2019, and shooting down an F-16 by an aircraft flown by Wing Commander (now Group Captain) Abhinandan Varthaman.
• According to Sources, this is the only instance when a MiG-21 aircraft shot down an F-16 in air-to-air combat.IAF is replacing MiG-21 fighter jets with more capable aircraft like Su-30 and indigenous Light Combat Aircraft (LCA).
• In the last 20 months, 6 MiG-21 aircraft have crashed in accidents in which five pilots have lost their lives.
• Recently, a MiG-21 Type 69 Trainer aircraft crashed in Barmer, Rajasthan killing both the pilots. The MiG-21 was supposed to be discontinued long back, but the delay in induction of the LCA Tejas aircraft has forced the IAF to continue flying these aircraft.
• As per officials, the IAF conducts extensive checks of these aircraft before the flight and all safety aspects are taken care of before the pilot takes off.
• According to officials, that the number-plated squadron would be reactivated soon with more capable aircraft in the near future.

• The government has proposed amendments in the Cantonments Act, 2006 by incorporating provisions for imparting, inter-alia, greater democratisation to Cantonment Boards including direct election of Vice-President.
• This information was given by Defence Minister Rajnath Singh in a written reply in the Lok Sabha. He said the draft bill is under finalization. The elections to Cantonment Boards are proposed to be held thereafter.
• Defence Minister said a framework for cutting out civil areas of certain Cantonments and to merge them with neighbouring State municipalities is under consultation with concerned States. He said this will provide uniformity in local governance and greater ease of living for citizens in the process.
• Mr Singh said several suggestions were received from public representatives and general public on the administrative structure of the Cantonment Boards. The suggestions mainly pertain to direct election of Vice-President, empowerment of Civil Area Committee, financial powers to Vice-President, power to vary the constitution of Boards, and power to suspend decisions of the Board.

• Recently, Asian share markets witnessed losses except for South Korea’s KOSPI which gained 0.7 percent.

Other Asian indexes performance

• Hong Kong’s Hang Seng index tumbled 2.3 percent
• China’s Shanghai Composite index declined 0.9 percent.
• Singapore’s Straits Times ended 0.3 percent down.
• Japan’s NIKKEI-225 fell marginally by 0.1 percent.

    In European shares, markets were up in intra-day trade.

• London’s FTSE 100 rose 0.4 percent.
• Germany’s DAX gained 1.1 percent.
• France’s CAC was 1.4 percent up.

About KOSPI

• The Korea Composite Stock Price Index or KOSPI was launched in 1983 with the base value of 100 as of January 4, 1980.
• KOSPI is the major stock market index of South Korea. The index represents all common stocks traded on the Korea Exchange.
• The index calculation is based on market capitalization method. KOSPI replaced Dow-style KCSPI (Korea Composite Stock Price Index) in 1983.KOSPI moved below 1,000 mark for several years.
• The index breached 1,000 for the first time in April 1989.
• KOSPI recorded its largest one-day percentage gain of 8.50% on June 17, 1998 & largest one-day percentage drop of 12.02% on September 12, 2001.
• The index’s Korean name was officially changed to Koseupi jisu in November 2005. KOSPI reached another milestone of breaking 2000 level for the first time on July 24, 2007.