Daily Current Affairs Quiz: January 02, 2024

ANSWER: C

ANSWER: D

ANSWER: B

ANSWER: C

• The European Bank for Reconstruction and Development (EBRD) has approved a 4 billion euro capital increase that will enable the bank to double its Ukraine investments once reconstruction there begins.

ABOUT EBRD

• The European Bank for Reconstruction and Development (EBRD) is an international financial institution created with the aim to assist countries of the former Eastern Bloc in developing their private sector.
• Established- 1991
• Headquarters – London, UK
• The EBRD is owned by 72 countries and two EU institutions- European Union and the European Investment Bank.
  • India was inducted as 69^th member of EBRD in 2018.
• It provides project financing mainly for private enterprises, usually together with other commercial lending partners, in countries that are committed to, and apply, democratic principles.
• It also works with public partners to support privatisation, restructuring and improvement of municipal services.
• It prioritizes support for countries in Central and West Asia, and North Africa.

ANSWER: B

• As per National Research Centre on Litchi, Litchi is being cultivated for commercial purposes in 19 states.
• More than 1 million hectares of land are under litchi cultivation in India as per latest official data.

ABOUT LITCHI CULTIVATION

• The fruit traditionally grows in the foothills of the Himalayas in Uttarakhand, Bihar, West Bengal and Jharkhand.
• Litchi is a sub-tropical fruit and thrives best under moist sub-tropical climate.
• It usually prefers low elevation and can be grown up to an altitude of 800 m.
• It is a rich source of Vitamin C along with B complex Vitamin.
• Its origin is from Southern China.
• India is second largest producer of litchi in the World after China.
• Climatic conditions
  • Temperature- 25-35°C
  • Rainfall- 1200mm
  • Sowing Temperature- 25-35°C
  • Harvesting Temperature- 25-30°C
  • Soil- Deep, fertile, well drained, medium texture soil is suitable for litchi cultivation.
    • pH of soil should be 7.5 to 8.
    • Litchi crop cannot tolerate high pH and saline soils.

ANSWER: C

• The Valedictory Session of the 70^th edition of the Know India Programme (KIP) was held recently.
• The Know India Programme has completed 20 years, making it one of the longest running diaspora engagement programmes of Government of India.

ABOUT KNOW INDIA PROGRAMME

• Launched in 2003.
• The primary objective is of fostering closer connections between Indian diaspora youth and their ancestral homeland.
• Nodal ministry- Ministry of External Affairs

• The three week programme provides diaspora youth exposure to India’s history and cultural heritage, along with growth and development of modern India.
• It is open to Persons of Indian Origin (21-35 years) from all the countries, with preference given to youth from Girmitiya countries.
• Key elements of programme
  • visits to places of historical and cultural importance;
  • familiarisation with Yoga, Ayurveda, and classical forms of Music and Dance;
  • visit to institutions of democracy and governance like Parliament of India, Election Commission of India, Rashtrapati Bhawan;
  • interaction with leading educational institutions;
  • exposure to flagship economic and development schemes like Digital India, StartUp India, and Make in India; and
  • visits to industrial sites, public and private firms to highlight India’s strength in Manufacturing & Service sector.
• The participants are provided with return air tickets (with participants bearing 10% of the cost of airfare), and local hospitality including boarding/lodging and transportation, as part of the Programme.

ANSWER: C

• India has provided US $ 2.5 million to the United Nations Relief and Works Agency for Palestine Refugees in the Near East or the UNRWA for the welfare of Palestinian refugees.

ABOUT UNRWA

• Following the 1948 War, UNRWA was established by United Nations General Assembly Resolution 302 (IV) of 8 December 1949 to carry out direct relief and works programmes for Palestine refugees. The Agency began operations on 1 May 1950.
• The Agency’s services encompass education, health care, relief and social services, camp infrastructure and improvement, microfinance and emergency assistance, including in times of armed conflict.
• UNRWA is funded almost entirely by voluntary contributions from UN Member States.
• UNRWA also receives some funding from the Regular Budget of the United Nations, which is used mostly for international staffing costs.
• UNRWA provides assistance and protection to Palestine refugees in Jordan, Lebanon, Syria, the Gaza Strip and the West Bank, including East Jerusalem.
• It reports only to the UNGA.
• UNRWA Headquarters are located in Amman, Jordan and in Gaza.

ANSWER: A

• The Government, with the approval of the President of India, has constituted the Sixteenth Finance Commission, in pursuance to Article 280(1) of the Constitution.
• Former NITI Aayog vice chairman and Columbia University professor Arvind Panagariya has been appointed as the chairman of the Sixteenth Finance Commission.
• Ritvik Ranjanam Pandey, former joint secretary in the Department of Revenue, is appointed as the panel’s secretary.
• 31^st October 2025 is the deadline set for the Commission to submit its recommendations, so that they can be incorporated in the Budget exercise for 2026-27.
• As per the terms of reference of the Sixteenth Finance Commission, apart from recommendations on the tax sharing formula between the Centre and the States for the five-year period beginning April 2026, it has been tasked with-
  • reviewing the present arrangements for financing Disaster Management initiatives and
  • mooting measures to augment States’ consolidated funds in order to supplement resources available with Panchayats and Municipalities.

ABOUT FINANCE COMMISSION

• Finance commissions are independent constitutional bodies with a key role to play in the division of the Centre’s net tax proceeds between Central and state governments keeping in mind the fiscal needs of the states.
• All central taxes other than those meant for states and the specific surcharges and cesses levied by the Centre form part of this divisible pool of tax revenue.
• The finance commissions decide the extent of the Centre’s revenue to be shared with the states and the formula for dividing it among states.
• The commission is a key pillar of fiscal federalism.

ANSWER: D

• Research analysts have found promising prospects for lithium extraction from Salton Sea.
• The analysis found an estimated 18 million metric tonnes of lithium reserves in the depths of the Salton Sea.
  • Lithium is an element that is essential for electric vehicle (EV) batteries and renewable energy storage systems.
• Salton Sea is a shallow, saline lake located in the lower Colorado Desert, southern California, USA.

ANSWER: C

• Every year, Global Family Day is celebrated on January 1^st.
• Global Family Day is also known as World Peace Day as it speaks of the importance of bringing harmony and unity in diversity.
• The theme for Global Family Day 2024 is “Embracing Diversity, Strengthening Families”.
• Global Family Day was declared an annual event by the N. in 2001.

ANSWER: A

• Gujarat set a Guinness World Record on January 1^st after more than 50,000 people performed ‘Surya Namaskar’ simultaneously at 108 venues.
  • Surya Namaskar or sun salutation is an ancient Yogic practice of paying respect to the rising sun and comprises different postures or Asanas.