Daily Current Affairs 19th Sept, 2024: Your guide for daily General Knowledge Preparation
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This post contains important current affairs of 19th Sept, 2024. It includes all Major National, International, Business and Sports related current affairs of 19th Sept, 2024. A brief explanation of every current affair is provided to further enhance your general knowledge. Once you have gone through these current affairs we would recommend to you to try 19th Sept, 2024 Current affairs test.
National News
Union Cabinet Endorses Simultaneous Elections Initiative (One Nation One Election – ONOE)
- The Union Cabinet, led by Prime Minister Narendra Modi, has accepted the recommendations put forth by the High-Level Committee on Simultaneous Elections (One Nation One Election – ONOE).
- This committee, headed by former President Ram Nath Kovind, has pushed for the alignment of national and state elections to occur simultaneously across India.
Science & Technology News
Approval Granted for CHANDRAYAAN-4 Mission
- The Union Cabinet, chaired by Prime Minister Narendra Modi, has greenlit the Chandrayaan-4 mission.
- The mission aims to develop and showcase the technology needed for a spacecraft to return to Earth after landing on the Moon.
- This mission will also collect lunar samples and bring them back for analysis.
India’s Space Station to Launch by 2028
- The Cabinet has given the go-ahead to establish India’s first space station, Bharatiya Antriksh Station (BAS).
- The first module is set for launch in 2028.
- The initiative is a part of the expansion of the Gaganyaan program and aims to boost India’s space research capacity.
India Sets Sights on Venus After Moon and Mars
- Following the successful exploration of the Moon and Mars, India is now setting its focus on Venus.
- The Union Cabinet has approved the Venus Orbiter Mission (VOM), marking another significant step in India’s space exploration ambitions.
Chandrayaan-4 and Venus Orbiter Missions Cleared by Cabinet
- The Cabinet has sanctioned both the Chandrayaan-4 and the Venus Orbiter Mission.
- Chandrayaan-4 will cost approximately Rs 2,104.06 crore and will include spacecraft development, two LVM3 launches, and additional tests to validate the mission.
- The project is expected to be completed in 36 months, with contributions from both industry and academia.
Cabinet Approves Development of Reusable Low-Cost Launch Vehicle
- The Union Cabinet has also approved the creation of a Next Generation Launch Vehicle (NGLV).
- This new low-cost, reusable launch vehicle will be vital for India’s long-term goal of establishing the Bharatiya Antriksh Station and enabling a human-crewed Moon landing by 2040.
Summits & Conferences
India and European Union Strengthen Ties in Water Management
- India and the European Union have agreed to deepen their collaboration on sustainable water management.
- This agreement was made during the 6th EU-India Water Forum, held alongside the 8th India Water Week in New Delhi.
Business News
India Climbs to 6th Spot in MSCI ACWI Index
- India has now overtaken China to become the sixth-largest market in the MSCI All Country World Investable Market Index (ACWI IMI).
- As of August 2024, India’s market weight in the index is 2.35%, slightly ahead of China’s 2.24%, with France being just 3 basis points ahead of India.
- This development also makes India the largest emerging market in the MSCI ACWI IMI.
Schemes News
Cabinet Approves Bio-RIDE Scheme for Biotechnology R&D
- The Union Cabinet has endorsed the Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE) scheme.
- This initiative is aimed at fostering research, innovation, and entrepreneurship in the biotechnology sector, with a budget allocation of ₹9,197 crore for the period of the 15th Finance Commission (2021-22 to 2025-26).
Economy News
India’s Exports to China Decline Sharply
- India’s exports to China dropped by 22.44% to $1 billion in August, while the country’s overall exports also fell by 9% to $34.7 billion.
- The decline in exports is attributed to weaker demand, geopolitical tensions, and logistical challenges, particularly amidst China’s economic slowdown.
- Despite this, China remains India’s fifth-largest export partner, though India continues to rely heavily on Chinese imports, which grew by 15.5% to $10.8 billion during the same period.
Cabinet Clears Key Proposals Including ‘One Nation, One Poll’ and Major Agricultural Initiatives
- The Union Cabinet has approved various significant initiatives with a combined budget exceeding ₹60,000 crore.
- Among the highlights is the ‘One Nation, One Poll’ policy, which will facilitate simultaneous elections throughout India.
- In agriculture, the PM-AASHA scheme has been revised with a budget of ₹35,000 crore to guarantee Minimum Support Prices (MSP) for farmers.
- Additionally, a subsidy of ₹24,474.53 crore for phosphatic and potassic fertilizers for the 2024-25 rabi season has also been cleared.
India to Become the Third-Largest Economy by 2030-31 - According to a report by credit rating agency S&P Global, India is poised to become the third-largest economy by the fiscal year 2030-31.
- The report, titled “India Forward Emerging Perspectives,” projects an annual growth rate of 6.7%, propelling India to this position.
Government Allocates Rs 12,554 Crore for Disaster Relief
- The Modi government has approved a relief fund of Rs 12,554 crore for states affected by natural disasters.
- These funds will be sourced from various disaster relief and mitigation programs to support rehabilitation efforts.
Atal Pension Yojana Subscribers Reach 69 Million with Corpus of Rs 35,149 Crore
- The Atal Pension Yojana (APY) has attracted 7 crore subscribers, with a total corpus of Rs 35,149 crore.
- Launched in 2015, this scheme offers a guaranteed monthly pension ranging from Rs 1,000 to Rs 5,000 based on the subscriber’s contribution.
- In the event of a subscriber’s death, the pension is passed on to the spouse for life, and the entire corpus is handed over to the nominee upon the deaths of both.
