Today's Current Affairs 26th July 2023

NATIONAL

International Exhibition-cum-Convention Centre at Pragati Maidan in New Delhi

• Prime Minister Narendra Modi dedicate to the nation the International Exhibition-cum-Convention Centre (IECC) complex at Pragati Maidan in New Delhi today, July 26. The Prime Minister’s vision of having a world class infrastructure for hosting meetings, conferences, and exhibitions in the country has led to the conceptualization of the International Exhibition-cum-Convention Centre.
• The project, which revamped the old and outdated facilities at Pragati Maidan, was developed as a national project at a cost of about 2,700 crore rupees. With a campus area of approximately 123 acres, the IECC complex has been developed as India’s largest MICE – Meetings, Incentives, Conferences, and Exhibitions – destination. The Complex finds its place among the top exhibition and convention complexes in the world, in terms of the covered space available for events.
• It comprises of multiple state-of-the-art facilities including a convention centre, exhibition halls, and amphitheaters.
• The Convention Centre is developed as the centerpiece of the Pragati Maidan complex. Its majestic multi-purpose hall and plenary hall have a combined capacity of seven thousand people, which is larger than the seating capacity of the famous Sydney Opera House in Australia. Its magnificent Amphitheater is equipped with a seating capacity of three thousand persons.

OBITUARY

Veteran journalist Shirish Kanekar passes away in Mumbai

• Veteran journalist-author-columnist Shirish Kanekar passed away in Mumbai due to a heart attack. He was 80 years old.
• Kanekar worked at Marathi and English language publications like Loksatta, Indian Express, Samana, and Free Press Journal. His collection of stories ‘Lagaon Batti’ was awarded the Maharashtra Literary Parishad Award for Best Comedy.
• He was known for his books on cricket, Bollywood movies such as ‘Nut Bolt Bolpat’, ‘Kanekari’, ‘Cricket Vedh’, among others. He is survived by wife and two children. Maharashtra Governor Ramesh Bais and Chief Minister Eknath Shinde expressed their condolences on the death of the Veteran author.

APPOINTMENTS & RESIGNATIONS

China appoints Pan Gongsheng to lead central bank, succeeding Yi Gang

• Pan Gongsheng was named China’s central bank governor in the widely anticipated final major appointment of the ruling Communist Party’s once-a-decade change of power.
• Pan, a deputy central bank governor and veteran of China’s state-owned banking industry, succeeds Yi Gang, an American-trained economist who held the post for five years. The endorsement of Pan’s promotion by the ceremonial legislature, the National People’s Congress, follows other Cabinet-level appointments announced in March.
• The governor of the People’s Bank of China is the most prominent Chinese figure in finance circles but the post’s powers are limited. The bank is controlled by the ruling Communist Party.

Wang Yi has been appointed as Foreign Minister of china

• China’s foreign minister Qin Gang has been removed from his post and replaced by his predecessor Wang Yi, the country’s legislature said on , In a sudden move that’s likely to bring the focus back on the ruling Communist Party of China’s (CPC) opaque politics.
• Qin, 57, has been replaced by Wang, who was China’s foreign minister for a decade until December, 2022. Wang was promoted to the CPC’s elite politburo last October when President XI Jinping retained the general secretary’s post for a norm-breaking third time. Wang was also appointed director of the CPC’s foreign affairs commission.

UAE Minister for Foreign Trade Dr Thani Al Zeyoudi elected as chair of WTO’s 13th Ministerial Conference

• UAE Minister for Foreign Trade Dr Thani Al Zeyoudi has been elected as the chair of the World Trade Organisation’s 13th Ministerial Conference that will be held in Abu Dhabi in February 2024. The announcement was made during the WTO General Council in Geneva, where Dr Al Zeyoudi met with the WTO director general Ngozi Okonjo-Iweala.
• The conference will be attended by representatives from the 164 countries and customs blocs that make up the WTO. It will review the performance of the trading system, make decisions on future work and set up the road map for the next conference, an official statement said on 24th July 2023.

IMPORTANT DAYS

Kargil Vijay Diwas

• Kargil Vijay Divas or Kargil Diwas is observed every year on 26 July to honour India's victory over Pakistan in the Kargil War in 1999. As part of "Operation Vijay," the Indian Army drove out intruders from Pakistan during this conflict and reclaimed Tiger Hill and other outposts. At Kargil in Ladakh, the conflict lasted for more than 60 days.
• Kargil Vijay Divas is commemorated annually in honour of the many Indian troops who lost their lives in battle. Every year, on the occasion of Kargil Vijay Divas, the Prime Minister of India pays tribute to the brave soldiers who lost their precious lives in the Kargil war, at Amar Jawan located near the India Gate, New Delhi.

International Day for the Conservation of the Mangrove Ecosystem

• The International Day for the Conservation of the Mangrove Ecosystem is observed annually on July 26th. Its purpose is to increase global understanding of the significance of mangrove ecosystems as distinct, precious, and delicate environments. The day also seeks to advocate for sustainable practices in managing, safeguarding, and utilizing these ecosystems. The General Conference of UNESCO officially adopted this International Day in 2015.
• The International Day for the Conservation of the Mangrove Ecosystem, observed on July 26th, was established by UNESCO during their General Conference in 2015 to create awareness about the critical value of mangrove ecosystems. The main objective of this day is to promote the preservation and sustainable development of mangrove forests.
• Mangrove forests hold significant ecological importance as their intricate root systems serve as protective nurseries for various organisms, shielding them from predators, extreme heat, and powerful tides. Additionally, these coastal forests are highly effective in removing five times more carbon dioxide from the atmosphere compared to terrestrial forests.

SUMMIT'S & MOU's

Dr. Bharati Pravin Pawar inaugurates National Conference on Moving Mental Health Beyond Institutions

• Union Minister of State for Health and Family Welfare, Dr. Bharati Pravin Pawar inaugurated a national conference on “Moving Mental Health Beyond Institutions, here today. Justice Arun Mishra, Hon’ble Chairperson, NHRC was also present on the occasion. The objective of the conference is to discuss the challenges in the implementation of the Mental Healthcare Act, 2017 and deliberate on the way forward on resolution of mental health issues.
• Highlighting the importance of addressing the challenges of mental health and the Mental Healthcare Act 2017, Dr Pawar stated that “the Union govt is promoting the availability of and access to cost-effective treatment of common mental disorders”. She informed that mental health has been included in the flagship Ayushman Bharat scheme of the Union Govt. She also stated that “since the launch of the National Tele-Mental Health service, 42 Tele-Manas cells have been established that has already recorded over 2 lakh calls”.

4^th ECSWG & Environment & Climate Ministers' meeting begins in Chennai

• The 4th Environment and Climate Sustainability Working Group (ECSWG) and Environment and Climate Ministers meeting began in Chennai today, July 26.
• The three-day meeting brings together around 300 delegates from G20 member countries, invitee countries, and several International Organisations, with a focus on finalising the Ministerial Outcome and the Presidency Documents.
• The 4th ECSWG & Minister's Meeting will focus on three key areas - land restoration, circular economy, and blue economy. These topics will take centre stage during the meeting to address environmental and sustainability challenges. On the first day of the event, there will be two parallel sessions -: the Environment Track and the Climate Track. These sessions will delve into different aspects related to environmental and climate issues, with a focus on in-depth discussions about land degradation, biodiversity, and climate change.

BANKING AND ECONOMY

IMF raises India’s 2023 GDP growth forecast to 6.1%

• The International Monetary Fund (IMF) on Tuesday revised India’s GDP growth forecast to 6.1% for 2023, up from 5.9% projected by the financial institution earlier this year as a result of stronger domestic investment.
• However, the IMF kept the growth forecast for 2024 at 6.3%, the growth rate it had predicted in April. IMF is not the only international financial agency to review the growth forecast for India.
• Earlier in June, Fitch Ratings raised its FY24 (2023-24) growth forecast for the Indian economy to 6.3%, from 6% predicted earlier, citing strong growth in the April-June quarter so far and sustained near-term momentum.