Today's Current Affairs 10th March 2023

INTERNATIONAL

Xi Jinping begins historic third term as China's president

Chinese President Xi Jinping has been handed a norm-busting third term as President, making him China's most powerful leader in generations. The appointment by Beijing's rubber-stamp parliament comes after he locked in another five years as head of the Communist Party and the military.

China's Parliament on Friday unanimously endorsed an unprecedented third five-year term for President Xi Jinping,

Indonesia is moving its capital from Jakarta to Borneo.

The city of Jakarta in Indonesia is facing issues such as congestion, pollution, earthquakes, and sinking into the Java Sea. Therefore, the Indonesian government is currently in the process of relocating the capital to the Island of Borneo. Indonesia plans to relocate its capital from Jakarta to Borneo, creating a “sustainable forest city” that aims to be carbon-neutral by 2045.

However, environmentalists warn that the development will lead to deforestation, threaten the habitat of endangered species such as orangutans and harm the homes of Indigenous communities. While the site is typically restricted, The Associated Press was granted access in early March to witness the construction progress. This article examines the reasons behind the relocation, the government’s plans, and the concerns of activists regarding the impact on the environment, endangered species, and Indigenous communities.

Ram Chandra Paudel elected as new President of Nepal

Nepal: Ram Chandra Paudel was elected as the new president of Nepal on Thursday. Paudel secured 33 thousand 8 hundred and 2 electoral votes while his rival Subash Chandra Nembwang secured 15 thousand 5 hundred and 18 electoral votes, according to Nepal's Election Commission.

Poudel, a common candidate of the eight-party alliance that included Nepali Congress and Prime Minister 'Prachanda'-led CPN (Maoist Center), received the vote of 214 lawmakers of parliament and 352 provincial assembly members. With the support from eight political parties, 78-year-old Poudel's victory was certain. His rival Subas Chandra Nebmang had support of former prime minister KP Sharma-led CPN-UML.

SCIENCE & TEHNOLOGY 

2023 DW : This Asteroid Has A 'Small Chance' Of Impacting Earth In 2046, NASA Says.

A new asteroid which NASA has been tracking has a "very small chance" of impacting Earth in 2046, according to the space agency's Planetary Defense Coordination Office. The asteroid, called 2023 DW, might hit Earth on Valentine's Day in 2046.

Asteroid 2023 DW has an average estimated diameter of 49.29 metres, and a mass of about eight kilograms, according to Jet Propulsion Laboratory's Center for Near Earth Object Studies. The velocity of the asteroid at the time of the likely impact will be 15.43 kilometres per second

IMPORTANT DAYS

International Day of Women Judges

International Day of Women Judges holds every March 10 to recognize the contributions of women judges worldwide and is part of global effort to ensuring gender equality and to address gender-related judicial integrity issues. It aims to incorporate women’s representation issues into judicial systems,

On - 10 March 2022, for the very first time, we celebrated the International Day of Women Judges pursuant to the recent United Nations General Assembly Resolution 75/274 of 2021.  

CISF Raising Day :India

Every year on March 10, the Central Industrial Security Force (CISF) Raising Day is observed to mark the CISF’s founding in 1969. The Ministry of Home Affairs’ top-tier central armed police force, the CISF, is in charge of providing security protection for several public sector organisations, airports, seaports, power plants, and other significant infrastructure projects across the nation.

 SUMMIT'S & MOU's

Joint Statement of India-US Commercial Dialogue held on 10.03.2023 in New Delhi

India and the United States of America held the 5th Ministerial level meeting of the bilateral Commercial Dialogue in New Delhi on 10 March 2023. India’s Minister of Commerce and Industry, Shri Piyush Goyal, and U.S. Secretary of Commerce, Gina Raimondo, co-chaired and re-launched the Commercial Dialogue in accordance with the U.S.-India Joint Leaders’ Statement of September 2021, with a renewed focus on future and emerging areas of bilateral commercial partnership. The Commercial Dialogue is part of ongoing efforts to strengthen the U.S.-India Comprehensive Global Strategic Partnership, develop inclusive and fair trade and investment policies, and leverage the interests of the private sector in pursuing new market opportunities that advance prosperity in both countries.

The Minister and the Secretary noted with satisfaction that the bilateral goods and services trade has almost doubled since 2014, exceeding US $191 billion in 2022, signaling accelerated growth benefitting both countries. With the United States becoming India’s largest trading partner in 2022, both sides will take further steps to enhance their commercial collaboration and tap into market potential across multiple sectors. Both sides envision further coordination on how best to foster an enabling environment for increased investment, including by small and medium-sized enterprises (SMEs) and start-up companies.

India, US Sign MoU On Semiconductor Supply Chain And Innovation Partnership

India and the United States have signed an MoU on semiconductor Supply Chain and Innovation Partnership following the Commercial Dialogue 2023. It was signed between Commerce and Industry Minister Piyush Goyal and US Secretary of Commerce Gina Raimondo in New Delhi.

The MoU seeks to establish a collaborative mechanism between the two governments on Semiconductor Supply chain resiliency and diversification in view of the US’s CHIPS and Science Act and India’s Semiconductor Mission. The India-US Commercial Dialogue was also re-launched today to discuss cooperation for unlocking new trade and investment opportunities between the two countries.

PNB Signs MoU With Central Warehousing Corporation

Punjab National Bank (PNB) and Central Warehousing Corporation signed a Memorandum of Understanding (MoU) to facilitate financing under e-NWR (Electronic Negotiable Warehousing Receipt) on Thursday. The partnership is aimed at providing easy access to finance to farmers, food processors, and traders against the pledge of agriculture commodities stored in CWC warehouses

Punjab National Bank said, "Agriculture is an important sector of the country’s economy, and government has been focusing on increasing the income of the farmers who drive this segment. One of the main constraints in increasing farm income has been distress sales by the farmers. With a view to curbing the same, the bank has entered this new MoU.".

Third session of National Platform for Disaster Risk Reduction to begin in New Delhi today : 10 March

Prime Minister Narendra Modi will inaugurate the third session of the National Platform for Disaster Risk Reduction in New Delhi today evening, This year's theme of the National Platform for Disaster Risk Reduction is building local resilience in the face of climate change.

During the event, the Prime Minister will facilitate awardees of the Subhash Chandra Bose Aapda Prabandhan Puraskar. The winners of the 2023 Puraskar are the Odisha State Disaster Management Authority and the Lunglei Fire Station of Mizoram.

BANKING AND ECONOMY

MSME Competitive (LEAN) Scheme launched

“LEAN has the potential to become a national movement and that it aims to provide a roadmap to global competitiveness for the MSMEs of India,” said Union MSME Minister Narayan Rane at the launch of MSME Competitive (LEAN) Scheme on Friday, March 10.

During the launch, the Union Minister said that LEAN will not only attempt to improve quality, productivity and performance, but also the capability to change the mind-sets of manufacturers and transform them into a world class manufacturers.

The Scheme aims at reducing manufacturing waste and is an extensive drive to create awareness amongst MSMEs about LEAN Manufacturing practices. Further, the purpose is to motivate and incentivize them to attain LEAN levels while also encouraging them to become MSME Champions.