VISION

Economy Yearly Compilation Jan 2020 – Aug 2021 PDF Download

Diademy IAS Economy Crux Revision Notes Prelims 2021 PDF

1)  International Day of Older Persons: 01 October

•International Day of Older Persons is observed globally on 1st October every year. The day aims to raise awareness about issues affecting the elderly, such as senescence and elder abuse, and appreciate the contributions that older people make to society. The theme of International Day of Older Persons 2021: Digital Equity for All Ages.

2)  International Coffee Day: 01 October

•Every year, International Coffee Day is observed on October 1, to celebrate and promote the use of coffee. There are many who believe that coffee might pose ill effects on their health, therefore, on this day people are educated about the various benefits of this beverage. On International Coffee Day, the hard work and efforts of these workers and people who are associated with the coffee industry are also recognised.

3)  World Vegetarian Day: 01 October

•World Vegetarian Day is observed annually on October 1 globally to raise awareness about the ethical, environmental, health, and humanitarian benefits of a vegetarian lifestyle. World Vegetarian Day is celebrated to emphasize environmental considerations, animal welfare and rights issues and personal health benefits to encourage people into ditching animal products. The full week between October 1–7 is observed as the International Vegetarian Week (IVW).

4)  PM Modi chairs 38th PRAGATI Meeting

•Prime Minister Narendra Modi has chaired the 38th PRAGATI meeting to review multiple projects, grievances and programmes of central and state government. PRAGATI stands for Pro-Active Governance and Timely Implementation. In the meeting, eight projects were taken for review having a cumulative cost of around Rs 50,000 crore. 297 projects worth Rs. 14.39 lakh crore has been IFSCA Constitutes an Expert panel on Sustainable Financeeviewed so far in the previous 37 PRAGATI meetings.

5)  IFSCA Constitutes an Expert panel on Sustainable Finance

•International Financial Services Centres Authority (IFSCA) has constituted an Expert Committee to recommend an approach towards the development of the Sustainable Finance Hub at IFSC. The expert committee will be chaired by C.K. Mishra, Former Secretary to Government of India, Ministry of Environment, Forest & Climate Change. The committee consists of a total of 10 members including the chairperson and the member secretary.

6)  Sunil Kataria elected as the chairman of the ISA

•The newly elected Executive Council of the Indian Society of Advertisers (ISA) has elected Sunil Kataria, Chief Executive Officer, India and SAARC, Godrej Consumer Products Limited as the Chairman of the ISA. Sunil has led the Society over the past five years to greater heights garnering support from the fellow Executive Council members, the ISA members and other industry bodies.

7)  NSDL appointed Padmaja Chunduru as MD & CEO

•Padmaja Chunduru has been appointed as the managing director and chief executive officer (MD & CEO) of National Securities Depositories (NSDL). She has replaced GV Nageswara Rao as the MD & CEO of NSDL. In India, there are two depositories namely National Securities Depositories Ltd (NSDL) and Central Securities Depositories Ltd (CDSL). Both the depositories hold our financial securities.

8)  Chronicles from the Land of the Happiest People on Earth by Wole Soyinka released

•A novel titled “Chronicles from the Land of the Happiest People on Earth” authored by Wole Soyinka has been released. Wole Soyinka is Africa’s first Nobel laureate in Literature. He wrote his last novel ”Season of Anomy” in 1973. He returns with a new novel after nearly 50 years. His notable plays include ”The Jero Plays”, ”The Road”, ”The Lion and the Jewel”, ”Madmen and Specialists” and ”From Zia, With Love”.

9)  Vinod Aggarwal appointed ASDC president

•The Automotive Skills Development Council (ASDC) has appointed automobile industry veteran Vinod Aggarwal as its president. Aggarwal, who is currently the managing director and CEO of VE Commercial Vehicles Ltd (VECV), replaces Nikunj Sanghi, who will leave ASDC after serving it for four years.

•ASDC was set up a decade ago and is promoted by the top industry associations — SIAM, ACMA and FADA — along with the central government and the National Skill Development Corporation (NSDC). It is a sector skills council for the auto industry, which aims to make the country self-sufficient to sustain the growth and competitiveness of the automotive industry.

10)  Mukesh Ambani tops Hurun India Rich List 2021

•Reliance Industries Chairman, Mukesh Ambani has topped the IIFL Wealth Hurun India Rich List for the 10th consecutive year. In 2021, his total net worth was recorded at Rs 7,18,000 crore. Meanwhile, Adani Group Chairman Gautam Adani is in the second spot with a net worth of Rs. 5,05,900 crore. Shiv Nadar & the family of HCL technologies are third in the list with a net worth of Rs 2,36,600 crore.

📰 Hidden debt rising for partners of China’s BRI plan

 Modern Indian History Quick Revision Prelims PDF

1)  International Translation Day: 30 September

•Every year, International Translation Day is marked on 30 September. The International Federation of Translators (FIT) organise the day ever since it was set up in 1953. The day aims to celebrate the work of language translation professionals which facilitates dialogue, understanding and cooperation, contributing to the development and strengthening of world peace and security. International Translation Day 2021 theme: “United in translation”.

2)  World Maritime Day 2021: 30 September

•World Maritime Day 2021 is observed globally on 30th September. The exact date of celebrating World Maritime Day is left to the individual governments but is usually celebrated during the last week in September. The theme of World Maritime Day 2021 is “Seafarers at the core of shipping’s future”.

•The theme for this year reflects a clear need to raise awareness of seafarersʹ crucial role in world trade and increase their visibility. The World Maritime theme for 2021 will provide the opportunity to focus on seafarers as the people at the heart of shipping, while also allowing for activities to delve into specific topics relevant to the role of the seafarer in safety, maritime security, environmental protection and seafarersʹ well-being; and the future of seafaring against a backdrop of increased digitalization and automation.

3)  Lok Sabha Speaker Launches ‘NIDHI 2.0’ Scheme

•The Speaker of Lok Sabha, Om Birla has inaugurated the NIDHI 2.0 (National Integrated Database of Hospitality Industry) scheme, during an event organised by the Ministry of Tourism, on the occasion of 2021 World Tourism Day. The NIDHI 2.0 database will have more inclusivity, by not only including accommodation units, but also travel agents, tour operators, & others.

4)  Union Minister Jitendra Singh launches “Amrit Grand Challenge Program-जनCARE”

•As a part of the Azadi Ka Amrit Mahotsav, Union Minister Dr Jitendra Singh (Union Minister of State (Independent Charge) Science & Technology) launched the “AmritGrand Challenge Program” titled “जनCARE”. The Grand Challenge aims to identify 75 Start-Up and entrepreneurs, who come out with Innovative Ideas and Solutions for India’s healthcare challenges, that can work in Low Resource Settings, for strengthening Healthcare Delivery in India.

5)  Ministry of Social Justice & Empowerment launches Elder Line

•Ministry of Social Justice & Empowerment has launched India’s first Pan-India helpline for senior citizens named ‘Elder Line’ for which the toll-free number is 14567. The platform will allow senior citizens to connect and share their concerns, get information and guidance on problems that they face on a day-to-day basis.

•It will provide free information and guidance on pension issues, legal issues, extend emotional support, and even intervenes on the field in cases of abuse, and rescues the homeless elderly. Tata Trusts and NSE Foundation are the technical partners for “Elder Line”.

6)  North Korea tests fire hypersonic missile “Hwasong-8”

•North Korea successfully tested a new hypersonic missile called Hwasong-8, in a bid to increase the nation’s capabilities for self-defence. The missile was one of the five most important new weapons systems laid out by North Korea in the five-year military development plan. This was the country’s third missile test in a month. Earlier it tested a new type of cruise missile, as well as a new train-launched ballistic missile system.

7)  RBI removes Indian Overseas Bank from Prompt Corrective Action framework

•Reserve Bank of India has announced the removal of Prompt Corrective Action (PCA) restrictions on Indian Overseas Bank (IOB). This decision gives the bank more freedom for lending, especially to corporations and grow the network, subject to prescribed norms. IOB was placed under PCA in 2015.

•The bank has provided a written commitment that it would comply with the norms of Minimum Regulatory Capital, Net NPA and Leverage ratio on an ongoing basis and has apprised the RBI of the structural and systemic improvements that it has put in place which would help the bank in continuing to meet these commitments. IOB is being tipped as a privatisation candidate. In 2021, RBI has also removed PCA restrictions on IDBI Bank and UCO Bank.

8)  Yemeni humanitarian organization wins Nansen Refugee Award 2021

•A humanitarian organization from Yemen has been declared as the winner of the 2021 UNHCR Nansen Refugee Award. The organisation named “Jeel Albena Association for Humanitarian Development”, founded in 2017 by Ameen Jubran has won the prestigious honour to support and provide a lifeline to tens of thousands of Yemenis people displaced by the country’s conflict.

9)  GoI increases the income limit of disabled dependents for family pension to 30%

•Ministry of defence and union government has decided to increase the income limit of disabled dependents for family pension to children/siblings suffering from mental or physical disability. The child/sibling will be eligible for family pension for life if his/her overall income from sources other than a family pension is less than 30% of the last pay drawn by the deceased government servant/pensioner concerned plus the dearness relief admissible thereon.

•The financial benefit in such cases will accrue with effect from 08 February 2021. Presently, the disabled child/sibling is eligible for family pension if the overall monthly income of the disabled child/sibling from sources other than the family pension is not more than Rs 9,000, along with dearness relief.

10)  Indra Nooyi memoir “The secrets to balancing work and family life”

•In her book, My Life in Full: Work, Family and our Future, Indra Nooyi focuses on the importance that organisational support plays in working women’s lives. For instance, she lists the offer of three months of paid leave by BCG to take care of her father in India when he was diagnosed with cancer.

•Indra Nooyi tells the story of that journey in her memoir, My Life in Full (published by Hachette India) in 313 pages that are packed with her experiences of settling in America, negotiating the boardroom, balancing work and family life and what the pandemic has meant for workplaces.

11)  Ranveer Singh Named India’s NBA Brand Ambassador

•The National Basketball Association (NBA) has named Bollywood actor Ranveer Singh as its brand ambassador for India. He will work with the NBA to help grow the league’s profile in India throughout its landmark 75th anniversary season in 2021-22. For the 2021-22 season, Singh will participate in a number of league initiatives that will be featured on NBA India’s and his personal social media accounts.

 Vision IAS PT 365 Economy Prelims 2021 PDF

 What is the issue?

There have been more than 18 petitions challenging the constitutionality of the IT (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 in various high courts with interim orders emerging in three cases.

What are the key provisions in the rules?

• The guidelines had asked all social media platforms to set up a grievances redressal and compliance mechanism.
• This includes appointing a resident grievance officer, chief compliance officer (CCO) and a nodal contact person.
• The Ministry of Electronics & Information Technology had also asked these platforms to submit monthly reports.
• It should have details on complaints received from users and action taken.
• A third requirement is for instant messaging apps to make provisions for tracking the first originator of a message.
• Failure to comply with any one of these requirements would take away the indemnity provided to social media intermediaries under Section 79 of the Information Technology Act.