Daily Current Affairs Quiz: October 07, 2023

ANSWER: C

ANSWER: B

ANSWER: C

ANSWER: A

• As per the UN’s latest Trade and Development Report 2023, the world economy growth is projected to be 2.4%.
• It has been published by the United Nations Conference on Trade and Development (UNCTAD).
• In 2023, there will be a global recession, like that in 2009. And it may continue in 2024 as well.
• UNCTAD has termed this growth as “stalled speed”.
  • A global recession is defined as when the growth rate hits 2.5 per cent and below.
  • According to the latest projection of UNCTAD, in 2024 the growth rate will have an insignificant increase to hit 2.5 per cent.
• The UNCTAD report has attributed this recession, after the contraction in pandemic years, to unprecedented growing inequalities and uneven growth among various regions.

FINDINGS ABOUT INDIA

• UNCTAD revises India’s 2023 economic growth forecast to 6.6%, up from the previous estimate of 6%.
• Predicts a slight decline in India’s growth to 6.2% for the year 2024.
• For India, the growth registered is mostly driven by government spending and supporting external trade situations.
• But its major concern is the “historic” unemployment rate of 8.5 per cent in June 2023.

ABOUT UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT (UNCTAD)

• Established– 1964
• UNCTAD is a permanent intergovernmental body aimed to promote development-friendly integration of developing countries into the world economy.
• HQ- Geneva, Switzerland
• Member- 195 including India
• UN General Assembly is the parent Organisation.
• Some of the other reports published by it are: World Investment Report, Information and Economy Report, Technology and Innovation Report, Commodities and Development Report.

ANSWER: B

• The National Investment and Infrastructure Fund has entered into a collaboration with Japan Bank for International Cooperation (JBIC) to unveil a $600 million India-Japan Fund.
• The fund will have JBIC and Government of India as anchor investors.
• It will focus on investing in environmental sustainability and low carbon emission strategies and aims to play the role of being a ‘partner of choice’ to further enhance Japanese investments into India.
• The announcement marks NIIF’s first bilateral fund, with GoI contributing 49% of the target corpus and the remaining 51% contributed by JBIC.
• The fund will be managed by NIIF Limited (NIIFL), and JBIC IG (a subsidiary of JBIC) will support NIIFL in promoting Japanese investments in India.

ABOUT NIIF

• The ₹40,000-crore NIIF was set up in December 2015 as an institution for enhancing infrastructure financing by investing in greenfield (new), brownfield (existing) and stalled projects.
• The fund was set up as Category II Alternative Investment Fund (AIF).
• NIIF manages three funds with distinct strategies – Master Fund, Fund of Funds and Strategic Opportunities Fund.

ANSWER: A

• A Glacial Lake Outburst Flood (GLOF) occurred in the South Lhonak Lake in Sikkim,killing many and causing the rise of water levels in Teesta river.

ABOUT GLOF

• Retreating glaciers, like several in the Himalayas, usually result in the formation of lakes at their tips, called proglacial lakes, often bound only by sediments and boulders or moraines.
• A GLOF is a type of flood occurring when water dammed by a glacier or a moraine is released suddenly.
  • Moraine is a mass of rocks and sediment carried down and deposited by a glacier, typically as ridges at its edges.
  • Unlike earthen dams, the weak structure of the moraine dam leads to the abrupt failure of the moraine dam bounding the glacial lake.

REASONS BEHIND GLOFS

• Glacial retreat increases meltwater.
• Cascading flood from upstream lakes.
• Geological Triggers as earthquakes can destabilize moraines.
• Landslides and ice avalanches.
• mass tourism, infrastructure boom etc.

ANSWER: C

• A four-volume book, The Mahabharata:  Mewari Miniature Paintings by Allah Baksh was recently released.
• Employed by Raja Jai Singh of Udaipur, Allah Baksh had illustrated the Mahabharata with 4,000 Mewari miniature paintings.

ABOUT MEWAR MINIATURE PAINTINGS

• The Mewar school of miniature painting, renowned for vibrant colors and intricate narratives within a single frame, flourished from the 17^th to the 18^th
• It originated from south-central Rajasthan, parts of Madhya Pradesh, and Gujarat.
• It is characterized by simple bright colour and direct emotional appeal.
• The Ragamala painted in 1605 A.D. is the earliest example of series of Mewar painting.
  • It was painted by the artist- Sahibdin.

ANSWER: A

• Yak Churpi has recently received the GI tag from Arunachal Pradesh.
• The slightly sour and salty churpi is a naturally fermented cheese prepared from the milk of Arunachali yak.
• It has been a staple food for tribal communities in Arunachal Pradesh.
• Its nutritional profile, rich in protein, makes it a vital dietary source, especially in regions where fresh vegetables are scarce.

ANSWER: B

• PM Modi recently inaugurated the country’s first high-tech sports training centre for Divyangjan in Gwalior, Madhya Pradesh.
• It has been named Atal Bihari Training Center for Divyang Sports.
• It is a state-of-the-art facility dedicated to training and nurturing athletes with disabilities.
• It houses world-class infrastructure and coaching staff to provide the best possible training environment for differently-abled athletes.
• It is an Autonomous body established by the Department of Empowerment of Persons with Disabilities (Divyangjan), Ministry of Social Justice & Empowerment.