Daily Current Affairs 2nd Dec, 2024

Daily Current Affairs 2nd Dec, 2024: Your guide for daily General Knowledge Preparation

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This post contains important current affairs of 2nd Dec, 2024. It includes all Major National, International, Business and Sports related current affairs of 2nd Dec, 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 2nd Dec, 2024 Current affairs test.

International News

Indian-Origin Kash Patel Appointed as FBI Director

• President-elect Donald Trump has named Kash Patel, an American of Indian descent, as the new Director of the Federal Bureau of Investigation (FBI), succeeding Christopher Wray.
• Patel is known for his long-standing loyalty to Trump and his combative approach toward the so-called “deep state.”
• He has been a vocal critic of federal agencies and has consistently backed Trump’s policies throughout his career.
• Patel’s appointment signals a continuation of Trump’s influence over federal law enforcement and reflects his commitment to reshaping key institutions with allies who share his perspectives.

National News

‘Mission Himveer’: Boosting Arunachal Pradesh’s Economy

• The Government of Arunachal Pradesh has launched “Mission Arun Himveer,” an initiative aimed at strengthening market connections for local agricultural and horticultural producers.
• In a significant development, the Arunachal Pradesh Agriculture Marketing Board (APAMB) signed a Memorandum of Understanding (MoU) with the Indo-Tibetan Border Police (ITBP), North East Frontier.
• The signing ceremony was attended by Chief Minister Pema Khandu.
• This collaboration is expected to enhance the economic well-being of local farmers by providing better access to markets and facilitating the sale of their produce.

Telangana Enters Mineral Auction System, Auctions Limestone Mines

• Telangana has officially joined India’s mineral auction regime by auctioning two limestone blocks located in Sultanpur and Saidulnama this November.
• These limestone reserves are vital for the cement manufacturing industry and have been successfully auctioned to NCL Industries and Deccan Cement.
• With this move, Telangana becomes the 14th state to participate in the Central Government’s mineral auction system.
• Previously, the Centre had urged Telangana to auction 11 limestone blocks, setting a deadline for the first phase.
• The state was informed that failure to meet this deadline would result in the Centre conducting the auctions on its behalf.

Uttar Pradesh Declares Maha Kumbh Mela Area as New District for 2025 Event

• In preparation for the grand religious gathering scheduled for January 2025, the Uttar Pradesh government has declared the Maha Kumbh Mela area in Prayagraj as a new district, aptly named the Maha Kumbh Mela district.
• This strategic decision aims to streamline administrative and logistical operations to ensure the smooth organization of the Kumbh Mela, which attracts millions of pilgrims globally.
• Establishing a new district is intended to improve coordination among various departments, enhance law enforcement capabilities, and optimize resource management for the event.

Defence News

India and Cambodia Begin Joint Exercise CINBAX in Pune

• The Indian Army and the Cambodian Army have launched their first-ever Joint Table Top Exercise, named CINBAX, at the Foreign Training Node in Pune.
• The exercise is scheduled from December 1st to December 8th, 2024.
• The primary goal of CINBAX is to foster strategic cooperation, build mutual trust, and enhance interoperability between the armed forces of the two nations. Each country’s contingent comprises 20 personnel.
• The exercise will focus on wargaming scenarios involving counter-terrorism operations under Chapter VII of the United Nations Charter, which deals with actions concerning threats to peace, breaches of peace, and acts of aggression.

Economy News

Singapore Leads FDI Inflows to India, Contributing Half of Q3 Investments

• In the July-September quarter of FY 2024-25, Singapore emerged as the largest source of Foreign Direct Investment for India, accounting for a remarkable 50% of the total USD 13.6 billion in FDI inflows.
• This marks a 43% overall increase in FDI during the quarter, signaling a robust recovery following a period of subdued investment activity.
• Cumulatively, from April 2000 to March 2024, Singapore’s FDI contributions to India have reached approximately USD 159.94 billion.
• This substantial investment highlights Singapore’s enduring and vital role in supporting India’s economic development.

November GST Collection Increases by 8.5% to ₹1.82 Trillion

• India’s Goods and Services Tax (GST) revenue for November 2024 has seen an 8.5% increase, reaching ₹1.82 lakh crore compared to ₹1.68 lakh crore collected in the same month the previous year.
• This growth is primarily driven by higher revenues from domestic transactions, which rose by 9.4%.
• While the increase is noteworthy, it follows a previous peak in October 2024, when GST collections hit ₹1.87 lakh crore—the second-highest in GST history.
• The highest-ever GST collection was recorded in April 2024, surpassing ₹2.10 lakh crore.

FDI Inflows Surge 45% to USD 29.79 Billion in First Half of FY 2024-25

• Foreign Direct Investment (FDI) into India has soared by 45% in the first half of the fiscal year 2024-25, totaling USD 29.79 billion compared to USD 20.5 billion during the same period last year.
• This significant growth is attributed to robust inflows in sectors such as services, information technology, telecommunications, and pharmaceuticals.
• Key investors from Mauritius, Singapore, and the United States have been instrumental in this uptrend. Notably, the July-September quarter alone witnessed a 43% increase in FDI, amounting to USD 13.6 billion.
• This surge underscores strong foreign investor confidence in India’s economic landscape.
• Maharashtra emerged as the top recipient of FDI, reinforcing its status as the nation’s financial hub.

Banking News

Banking Laws (Amendment) Bill, 2024 to Be Introduced in Lok Sabha

• Union Finance Minister Nirmala Sitharaman is scheduled to introduce the Banking Laws (Amendment) Bill, 2024, in the Lok Sabha on December 2nd, 2024.
• The proposed legislation seeks to amend several critical banking laws, including the Reserve Bank of India Act of 1934, the Banking Regulation Act of 1949, the State Bank of India Act of 1955, and the Banking Companies (Acquisition and Transfer of Undertakings) Acts of 1970 and 1980.
• These amendments aim to enhance the functioning, regulation, and oversight of the banking sector.
• The bill will be presented for consideration, debate, and passage in the lower house of Parliament.

Schemes News

Women-Centric Welfare Schemes in FY25: Major Allocations and Programs

• In the fiscal year 2024-25, women-centric welfare schemes constitute 0.5% of India’s GDP, reflecting their growing significance in state policies and national budgets.
• Maharashtra leads the way with the largest allocation of $5.4 billion towards such initiatives, representing 1.1% of its GDP.
• Collectively, nine states have allocated a total of $18 billion for programs aimed at women’s welfare.
• These schemes, which include direct cash transfers and developmental projects, have become essential political tools for attracting women voters.
• For instance, Maharashtra’s “Ladki Bahin Yojana” played a pivotal role in the electoral success of the BJP-led coalition government.
• Haryana stands out with the highest proposed monthly cash transfer of ₹2,100 for eligible women, accounting for 1.7% of its GDP—the highest proportion among all states.

Awards News

Filmfare OTT Awards 2024: Honoring Excellence in Digital Entertainment

• The 5th edition of the Filmfare OTT Awards 2024 was a spectacular event celebrating the finest achievements in digital entertainment.
• The ceremony honored outstanding contributions in both films and series available on over-the-top (OTT) platforms.
• Awards were presented across various categories, recognizing excellence in acting, direction, writing, and technical artistry in the digital content sphere.
• The event underscored the growing influence of OTT platforms in the entertainment industry and celebrated the creators and performers who have excelled in this dynamic medium.

Sports News

Jay Shah Becomes Youngest Chairman in ICC History

• Jay Shah, a seasoned cricket administrator and the Secretary of the Board of Control for Cricket in India (BCCI), has officially begun his tenure as the Chairman of the International Cricket Council (ICC).
• At just 36 years old, Shah is the youngest person ever to assume this prestigious role.
• His leadership comes at a pivotal moment for international cricket, presenting both significant opportunities and challenges in expanding the sport’s global reach and inclusivity.
• Shah’s appointment is expected to bring fresh perspectives and renewed energy to the ICC’s efforts to promote and develop cricket worldwide.

Summits & Conferences News

14th Asia-Oceania Meteorological Satellite Users’ Conference to Advance Weather Monitoring

• The 14th Asia-Oceania Meteorological Satellite Users’ Conference (AOMSUC-14) is set to take place from December 4th to 6th, 2024, in New Delhi, India.
• Hosted by the India Meteorological Department (IMD) under the Ministry of Earth Sciences, the event will gather meteorologists, satellite operators, scientists, and young researchers from around the world.
• The conference aims to foster collaboration and promote advancements in satellite meteorology.
• Activities will include oral and poster presentations, panel discussions, and a training workshop, all designed to share knowledge, discuss innovations, and explore new technologies in weather monitoring and forecasting.

Miscellaneous News

Actor Vikrant Massey Announces Retirement from Acting at Age 37

• After nearly two decades in the entertainment industry, acclaimed actor Vikrant Massey has announced his retirement from acting at the age of 37.
• Renowned for his versatility and compelling performances across television, film, and digital platforms, Massey shared the news through an emotional message on Instagram.
• His decision has left fans surprised and emotional, as he is widely regarded as one of the most talented actors of his generation.
• Massey plans to complete two final projects before officially stepping away from acting in 2025, marking the end of a significant chapter in his career.

Important Days 

International Day for the Abolition of Slavery 2024 Observed Globally

• The International Day for the Abolition of Slavery is observed annually on December 2nd, serving as a worldwide call to action to eliminate modern forms of slavery.
• This day focuses on eradicating practices such as human trafficking, forced labor, child labor, forced marriage, and other contemporary forms of exploitation.
• It emphasizes the protection of fundamental human rights and the dignity of every individual.
• The observance raises awareness about the ongoing issues related to slavery and mobilizes efforts at international, national, and local levels to combat these human rights violations.