Daily Current Affairs Quiz: Julu 25, 2024

ANSWER : B

Observed annually on 26 July

• Aim : to pay tribute to the bravery of Indian soldiers who made the ultimate sacrifice for the country during the Kargil War of 1999.
• This event marks the conclusion of the Kargil War between India and Pakistan that started in May 1999.
• After the success of Operation Vijay. The Kargil war was ended on 26 July which continued approx 60 days.

ANSWER : C

Current Context : Recently, Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 in the Lok Sabha.

• Budget is presented as per Article 112 of the Constitution, formally known as ‘Annual Financial Statement’.
• The Budget focused on provisioning for the agricultural sector, the introduction of schemes related to employment, loan schemes, announcements for financial support to the MSME sector, infrastructural development, and fiscal deficit projection at 4.9% with a commitment to reducing it down to 4.5%.

KEY HIGHLIGHTS

• Announcement of Prime Minister’s package of 5 schemes and initiatives to facilitate employment, skilling and other opportunities for 4.1 Cr youth over a 5-year period with a central outlay of INR 2 Lakh Cr.
• Rationalization of Custom Duties on various sectors to support domestic manufacturing, deepen local value addition, promote export competitiveness, and simplify taxation.
• Revision of tax rate structure under new tax regime.
• TDS rate reduced on some payments and e-commerce operators.
• Short term gains and Long term gains on financial assets to attract a tax rate of 20% and 12.5%, respectively.
• Development of investment-ready plug-and-play industrial parks with complete infrastructure in or near 100 cities.
• Vivad Se Vishwas Scheme, 2024 proposed for resolution of income tax disputes.
• Corporate tax rate on foreign companies reduced from 40 to 35 %
• Shram Suvidha and Samadhan portals will be revamped to enhance ease of compliance for industry and trade.
• Anusandhan National Research Fund for basic research and prototype development to be operationalised.

ANSWER : A

Current Context : The finance minister recently introduced a new pension scheme under the National Pension Scheme (NPS), called NPS Vatsalya.

• This new scheme is designed to help parents and guardians plan for their children’s future financial needs.

ABOUT NPS VATSALYA SCHEME:

• It is a scheme under the National Pension Scheme (NPS).
• NPS Vatsalya is a scheme for minors in which, a regular contribution is made by parents or guardians.
• The scheme will get converted to regular NPS once the child attains the age of 18.
• The accumulated amount will be transferred to the standard NPS account when the child turns 18.
• The scheme operates similarly to the existing NPS.

NATIONAL PENSION SCHEME

• It is a voluntary pension system for all citizens, including both residents and NRIs between the ages of 18 and 70 years (NPS).
• It is a market-linked contribution scheme that allows Indian citizen to systematically save for their retirement and also derive tax benefits out of it.

ANSWER : B

Current Context : The finance minister recently announced a revision to the model skill loan scheme.

• The revised scheme will now facilitate loans up to Rs 7.5 lakh backed by a guarantee from a government-promoted fund.
• This initiative is expected to benefit 25,000 students annually.

 ABOUT SKILL LOAN SCHEME

• Launched in July, 2015.
• It provides financial assistance to students pursuing technical courses offered by training institutes, polytechnics, and similar institutions.
• These courses are conducted by training institutes following the National Skill Qualification Framework (NSQF) and lead to certifications, diplomas, or degrees.
• The Scheme avaliable through banks that are members of the Indian Banks’ Association (IBA) and financial organisations approved by the Reserve Bank of India (RBI).
• Ministry : Ministry of Skill Development and Entrepreneurship

ANSWER : D

Current Context : Recently, Department of Posts released beta version of Digital Postal Index Number  (DIGIPIN) for public comments and expert opinion.

• The Department had collaborated with IIT Hyderabad for developing a National Addressing Grid, named as Digital Postal Index Number (DIGIPIN).

ABOUT DIGIPIN

• Aim : to establish a geo-coded addressing system in India.
• Goal : for ensuring simplified addressing solutions for citizen-centric delivery of public and private services.
• It will act as a strong and robust pillar of Geospatial Governance.
• Significance of DIGIPIN: It can be used for logically locating addresses with directional properties built into it.

ANSWER : C

Current Context : Finance Minister Nirmala Sitharaman during budget presentation, announced to launch a new scheme named Pradhan Mantri Janjatiya Unnat Gram Abhiyan.

• Aim is to bring improvement in the socio-economic condition of tribal communities.
• Goal : to provide saturation coverage for tribal families in tribal-majority villages and aspirational districts, covering 63,000 villages and benefiting 5 crore tribal people.
• The Ministry of Tribal Affairs serves as the nodal Ministry.

ANSWER : B

Current Context : Twelve investment-ready “plug and play” Industrial parks to be created under national industrial corridor development programme.

• Government will also facilitate development of investment-ready plug and play industrial parks with complete infrastructure in or near 100 cities, in partnership with states and private sector, by better using town planning schemes.

ABOUT INDUSTRIAL PARKS

• An industrial park, also known as industrial estate, is an area zoned and planned for the purpose of industrial development. E.g. Andhra Pradesh’s Sri City Special Economic Zone.
• Industrial parks may contain oil refineries, ports, warehouses, distribution center, and factories.

SIGNIFICANCE:

• Creation of employment opportunities.
• Fosters sharing of common infrastructure, collaborate and enhance productivity and competitiveness.
• Attracts Foreign Direct Investment and expands manufacturing activity.

National Industrial Corridor Development Programme (NICDP)

• It is India’s most ambitious infrastructure programme aiming to develop futuristic industrial cities in India.
• Aim: to develop new industrial cities as “Smart Cities” and converging next generation technologies across infrastructure sectors which can compete with the best manufacturing and investment destinations in the world.
• Projects: 11 industrial corridors are envisaged consisting of 32 projects to be developed in 4 phases.

11 Industrial corridors are :

• Delhi-Mumbai Industrial Corridor (DMIC)
• Amritsar-Kolkata Industrial Corridor (AKIC)
• Chennai-Bengaluru Industrial Corridor (CBIC)
• Vizag-Chennai Industrial Corridor (VCIC)
• Bengaluru-Mumbai Industrial Corridor (BMIC)
• Odisha Economic Corridor (OEC)
• Hyderabad Nagpur Industrial Corridor (HNIC)
• Hyderabad Warangal Industrial Corridor (HWIC)
• Hyderabad Bengaluru Industrial Corridor (HBIC)
• Extension of CBIC to Kochi via Coimbatore
• Delhi Nagpur Industrial Corridor (DNIC)

ANSWER : A

Current Context : Recently, PM Modi Pays Tribute to Chandra Shekhar Azad on His Birth Anniversary on 23 July.

ABOUT

• He was a great Indian freedom fighter. He was known for his unwavering resolve and extraordinary bravery.
• He was born on July 23, 1906, in the small village of Bhavra in Madhya Pradesh.
• His resolve to fight for India’s independence was ignited early, and by the age of 15, he had already joined the Non-Cooperation Movement initiated by Mahatma Gandhi.
• In 1920, he became an active member of the Hindustan Republican Association (HRA).
• Azad was disappointed by Gandhi’s suspension of the noncooperation movement in February 1922, after several policemen had been murdered by a revolutionary mob at Chauri Chaura.
• By 1928, he had played a crucial role in transforming the HRA into the Hindustan Socialist Republican Association (HSRA), which aimed to establish a socialist republic in India.
• He worked closely with other notable revolutionaries, including the legendary Bhagat Singh.

ANSWER : D

Current Context : The government of India under Ministry of Culture has initiated the National Mission on Cultural Mapping (NMCM).

OBJECTIVES OF NMCM:

• To raise awareness about the strengths of cultural heritage and its role in development and cultural identity.
• Cultural Mapping of5 Lakh villages including their geographical, demographic profiles, and cultural capitals.
• Creation of National Registers of Artists and Art practices.
• Development of a web portal and mobile app to function as a National Cultural Work Place (NCWP).
• Aim : to cover all the inhabited villages of India which is marked as ‘village’, in the Census List, 2011 published by the Registrar General and Census.

ANSWER : C

Current Context : Recently, Union Ministry of Youth Affairs and Sports has recognised the Indian Kalarippayattu Federation as the Regional Sports Federation to promote ‘Kalarippayattu’ in the country.

About Kalarippayattu

• It is considered one of the most ancient martial arts in the world.
• Developed and popularly practiced in
• It is composed of two words, kalari means “place of exercise” and payattu means “fighting” in Malayalam.
• There are mainly two main styles of Kalarippayattu:
  • Vadakkan or Nothern style – practiced in the Malabar region of Kerala.
  • Thekken or Southern Style – practiced mainly in the Travancore region.
• The practice of Kalaripayattu is divided mainly into four stages;
  • Maithari – Body Control Exercises
  • Kolthari – Practise of wooden weapons
  • Ankathari- Practice of metal weapons
  • Verumkai – Bare hand fighting techniques

ANSWER : A

Current Context :An early-warning system alerting the local communities about the presence of an elephant within 100 metre range will soon be set up by the Paonta Sahib forest division.

• The system will be set up in two villages of the Majra and Girinagar forest ranges as part of the Project Elephant.
• Aimed at protecting elephants coming to the Col Sher Jung National Park at Simbalbara in Paonta Sahib and the forest areas of Nahan from neighbouring Uttarakhand.

ABOUT SIMBALBARA NATIONAL PARK

• Located in the Paonta Valley of Sirmour District, Himachal Pradesh.
• It is also known as Sher Jung National Park.
• Area covers 27.88 sq. km,
• The vegetation consists of dense Sal forests with grassy glades.