Today's Current Affairs 20th December 2022

INTERNATIONAL

EU deal set to trigger 'domino effect' for global minimum tax deal

• The European Union has adopted a plan for a global minimum 15% tax on big business. The landmark deal between nearly 140 countries aims to stop governments racing to cut taxes in a bid to attract companies. It was praised by US Treasury Secretary Janet Yellen as “an historic agreement which helps even the playing field”.
• EU member states reached agreement in principle to implement at EU level the minimum taxation component, known as Pillar 2, of the OECD’s reform of international taxation. The ambassadors of EU member states decided to advise the Council to adopt the Pillar 2 directive, and a written procedure for the formal adoption will be launched.
• Corporation tax is usually based on a company’s profits. But often they might be able to pay less depending on where their offices are registered or how they invest in their business.

 NATIONAL

Tamil Nadu government makes Aadhaar a must for all of its schemes

• The Tamil Nadu government has announced that all those who are eligible for benefits (other than minor children) under various government schemes are required to submit proof of possession of an Aadhaar number or undergo Aadhaar identification. According to the order, Aadhaar is mandatory for government employees, government pensioners and beneficiaries of various schemes implemented by the State government through various Departments by their implementing agencies.
• Any individual desirous of availing himself of benefits, but does not possess an Aadhaar number or has not yet enrolled for Aadhaar, shall be required to make an application for Aadhaar enrolment before registering for the “Scheme.”

Ministry of culture in collaboration with Prasiddha foundation organises Delhi

• Ministry of Culture in collaboration with Prasiddha Foundation inaugurated Delhi International Arts Festival at Kartavya Path with the tag-line – ‘Where Bharat Meets India.
• The festival aims to celebrate the great Epics, the Warriors Who Fought for Our Freedom, and the many policy decisions and schemes instituted by our Government towards ‘Women Empowerment’, towards ‘Cleaning Our Holy Rivers‘, towards keeping our Country ‘Clean and Free from Dirt and Disease’.
• In the festival dance performances such as Kathak, Odissi along with theatre, classical musical performances and other cultural performances will be organised. A series of events and performances will be organised at various venues like Kartavya Path India Gate Lawns, Central Vista, Samvet Auditorium Indira Gandhi National Centre for Arts Janpath, Amphitheatre Indira Gandhi National Centre for Arts Janpath, etc in Delhi.

Gujarat CM to unveils Urban G20 logo, website and social media handle

• In Gujarat, Chief Minister Bhupendra Patel has unveiled the logo, website and social media handles of the Urban-20 conference in Gandhinagar. The UNESCO heritage city Ahmedabad will host the Urban 20 cycles as part of G-20 meetings between February to July. The logo unveiling event in Gandhinagar was attended by senior officials of the Gujarat government and the Ahmedabad Municipal Corporation (AMC).
• CM Patel said the unveiling of the U20 logo heralds the launch of the U20 cycle, which will begin in February next year with the Sherpas’ meeting and end with the U20 Mayors’ summit.
• Along with C40 (Climate 40) and United Cities and Local Governments (UCLG), Ahmedabad will organise various events including City Sherpas’ inception meeting on February 9 and 10.
• This city diplomacy initiative facilitates a productive dialogue between the national and local governments and helps promote the importance of urban development issues in the G20 agenda.

Indian Railways opens nation’s longest ‘escape tunnel’ in Kashmir

• The Indian Railways on Thursday completed the construction of a tunnel on a 111-kilometre section of the Udhampur-Katra railway line in Kashmir. The ‘escape tunnel’, which is the longest of its kind in the country, is located at an elevation of 12.89 meters.
• According to railway officials, the tunnel was constructed to allow emergency response teams to carry out rescue operations in case of an accident. It passes through various drainages and reservoirs in the Chenab River, including the Khoda, Hingni, and Kundan nullahs making its drilling and construction a challenging task.
• The tunnel, which is the fourth on the Banihal-Katra route, was constructed using a modern technique known as the New Austrian Tunnelling Method. It was completed in January this year.

 SPORTS

Rafael Nadal crowned ITF World Tennis Champion for fifth time

• Spanish Tennis Player, Rafael Nadal has been named the Men’s International Tennis Federation (ITF) World Champion 2022 for the 5th time after an outstanding 2022 season. Previously, He has been named the men’s ITF World Champion in 2008, 2010, 2017 and 2019. Polish tennis player, Iga Świątek, has been named Women’s ITF World Champion 2022 for her performance in 2022 winning 2 Grand Slam titles and 8 titles.
• The winners will be honoured at the annual ITF World Champions Awards event which will be held on 8th July 2023 at Victoria and Albert Museum, London, United Kingdom(UK). The event is usually held in Paris France.

About International Tennis Federation (ITF):

President¬: David Haggerty

Headquarters¬: London, United Kingdom (UK)

Establishment:¬ 1913

 IMPORTANT DAYS

International Human Solidarity Day 2022: Date, Theme, Significance

• International Human Solidarity Day (IHSD) is observed annually on December 20 across the globe to celebrate the ideal of unity in diversity. IHSD highlights the goal of the United Nations and its member states to create awareness about poverty and the need to reduce poverty in independent nations.
• The celebration of the International Day of Human Solidarity is a significant step in the aim of the United Nations Sustainable Development Agenda for 2030, to eradicate poverty in all its forms across the globe. The annual celebration reminds world citizens of the issues faced by poor people and nations affected by poverty. The day serves to remind governments, civil society members and other institutions that poverty can tackled and eradicated only through a united effort to help usher in an era where social equality, dignity and justice prevails

 AWARDS & RECOGNITION

Sonakshi Sinha is PETA India's 2022 'Person of the Year'

• Bollywood actress, Sonakshi Sinha has been awarded PETA India’s 2022 Person of the Year title. Sonakshi’s actions helped save the lives of many animals killed for fashion, but her strong advocacy for dog and cat rights earned her the title. She is actively involved in animal welfare activities and regularly voices out the need for stronger animal protection laws. The international animal rights non-profit group endorsed the title and celebrated the actions of the “Dabang” actress for saving animal lives in India.
• Last year, Alia Bhatt was awarded the same title. Previously PETA India Person of the Year winners include former Supreme Court Justice KS Panicker Radhakrishnan, cricketer Virat Kohli, comedian Kapil Sharma; and actors John Abraham, Anushka Sharma, Sunny Leone, R Madhavan, Jacqueline Fernandez, Hema Malini, and Sonam Kapoor Ahuja, among others.

 BANKING AND ECONOMY

India’s monthly merchandise trade deficit comes down to a six-month low

• India’s overall trade deficit for goods and services in November this year has fallen to $11.11 billion, lower than year-ago and month-ago levels. Moreover, thanks to a recovery in exports, India’s monthly merchandise trade deficit came down to a six-month low of $23.81 billion. Trade deficit is the amount by which a country’s import costs exceed its export value in a given period.
• November’s goods exports stood at $31.99 billion against $29.78 billion in October and $30.04 billion a year ago. The export data is still the lowest since November 2021 due to lower prices and volumes. Also, November goods imports were recorded at $55.88 billion against $56.69 billion a month ago. The number stood at $52.94 billion a year ago. November goods trade deficit has fallen to $23.81 billion against $26.9 billion in October and $22.9 billion year-on-year (YoY). The November goods deficit is the lowest since May.
• The November trade deficit is down on marginal recovery in exports and a fall in services imports.

RBI holds 599th central board meeting, reviews economic situation

• The 599th meeting of the board was held in Kolkata on December 16. The meeting was chaired by RBI Governor Shaktikanta Das.
• Directors of the Central Board, Satish K. Marathe, Revathy Iyer, Sachin Chaturvedi, Venu Srinivasan, Pankaj Ramanbhai Patel and Dr Ravindra H. Dholakia attended the meeting. RBI deputy governors Mahesh Kumar Jain, Dr Michael Debabrata Patra, M. Rajeshwar Rao, and T. Rabi Sankar too attended the meeting.
• The Central Board of Directors of the Reserve Bank of India (RBI) reviewed the current economic situation, and global and domestic challenges including the overall geopolitical developments, finance, and trade. The Board also discussed the activities of select Central Office Departments and the draft Report on the Trend and Progress of Banking in India, 2021-22.