Daily Current Affairs- 2 September

Author : Palak Khanna

Updated On : September 2, 2022

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Today's Current Affairs-2nd September 2022

INTERNATIONAL

IMF-Sri Lanka reach staff level agreement, Fund provisionally agrees on $2.9 billion loan

  • Bankrupt Sri Lanka agreed a conditional $2.9 billion bailout with International Monetary Fund negotiators, as the island nation seeks to overcome a bruising economic crisis that saw its president flee the country. Months of acute food, fuel and medicine shortages, extended blackouts and runaway inflation have plagued the country after it ran out of dollars to finance even the most essential imports.
  • The Extended Fund Facility will support Sri Lanka’s program to restore macroeconomic stability and debt sustainability, the IMF said in a statement Thursday. The 48-month program will be subject to approval by IMF management and the board. The South Asian nation is grappling with its worst economic crisis since independence alongside a political turmoil that led to the formation of a new government. Dwindling foreign-exchange reserves, crippling shortages of essential items and Asia’s fastest inflation have hammered the $81 billion economy.
  • IMF’s senior mission chief Peter Breuer said a timeline for the loan disbursement would be difficult to ascertain. He also reinforced the need for urgent, short-term support for Sri Lanka to avert a humanitarian crisis.
  • Sri Lanka must implement major tax reforms including making personal income tax more progressive while broadening tax base for corporate income tax and VAT to meet a primary surplus of 2.3% of GDP by 2025
  • Reduce corruption vulnerabilities by improving fiscal transparency and public financial management.
  • Ahead of the IMF pact, Sri Lanka increased the value-added tax to 15% from 12% starting Sept. 1 and unveiled plans earlier this week to boost revenue to 15% of gross domestic product by 2025, reduce debt-to-GDP ratio to 100%, hit a 5% economic growth over the medium term and cool inflation that has accelerated above 60% to below 10%.

About Sri Lanka:

Capitals: Colombo, Sri Jayawardenepura Kotte

President: Ranil Wickremesinghe

Currency: Sri Lankan rupee

Prime Minister: Dinesh Gunawardena

Official languages: Sinhala, Tamil

About International Monetary Fund (IMF):

Founded: July 1944, Bretton Woods, New Hampshire, United States

Founders: John Maynard Keynes, Harry Dexter White

Managing Director: Kristalina Georgieva

 NATIONAL

India’s indigenous aircraft carrier and largest warship INS Vikrant joins Navy

  • INS Vikrant Commissioned: INS Vikrant, India’s first homegrown aircraft carrier, to the Indian Navy at the Cochin Shipyard commissioned by Prime Minister Narendra Modi. The nation’s largest warship, weighing 45,000 tonnes, has finished a year of sea trials. The warship’s construction cost Rs 20,000 crore. The new Naval emblem was also revealed by the Prime Minister.
  • An imitation of the INS Vikrant was given to Prime Minister Narendra Modi.
  • The first aircraft carrier made entirely in India, INS Vikrant, is given to the Indian Navy by Prime Minister Narendra Modi. Following the construction of INS Vikramaditya, this is the country’s second aircraft carrier.
  • The new flag of the Indian Navy is raised by Prime Minister Narendra Modi, Kerala Chief Minister Pinarayi Vijayan, and other top officials aboard INS Vikrant.
  • Vikrant, the largest warship built entirely in India, would fly 30 fighter planes and helicopters. The aircraft carrier, which was built at the Cochin shipyard and will provide the Indian Navy with a third aircraft carrier, has a crew of more than 1,500.

 SPORTS

VAR technology to make debut in FIFA U-17 Women's World Cup in India

  • The upcoming Under-17 Women’s World Cup 2022 in India will see the Video Assistant Referee (VAR) technology making its debut in the age-group showpiece, world football governing body FIFA announced. The prestigious tournament, which was given the go-ahead by FIFA after lifting the 11-day-long suspension of the All India Football Federation (AIFF), will be held in Bhubaneswar (Kalinga Stadium), Margao (JLN Stadium) and Navi Mumbai (DY Patil Stadium) from October 11-30.
  • The VAR technology supports the decision-making process of the referee in four game-changing situations: goals and offences leading up to a goal, penalty decisions and offences leading up to a penalty, direct red card incidents, and mistaken identity. Throughout a match, the VAR team constantly checks for clear and obvious errors related to these four match-changing situations. The VAR team communicates with the referee only for clear and obvious mistakes or serious missed incidents.

About International Federation of Association Football (FIFA):

President: Gianni Infantino

Founded: 21 May 1904, Rue Saint-Honoré, Paris, France

Headquarters: Zürich, Switzerland

New Zealand All-rounder Colin de Grandhomme Retires from International Cricket

  • New Zealand all-rounder Colin de Grandhomme has announced his retirement from international cricket. The 36-year-old cricketer made his decision after discussions with the country’s cricket board and hence, has been released from his central contract. In the 2019 ICC Cricket World Cup, he starred with a 47-ball 60 in a pulsating victorious chase against South Africa, scored 64 against Pakistan, and bowled superbly in the final against England, taking one for 25 off his 10 overs.
  • He represented New Zealand in 29 matches, scoring 1432 runs at 38.70 and picking up 49 wickets. He featured in 18 wins, playing a key role in the inaugural ICC World Test Championship campaign against India in Southampton.
  • The all-rounder also proved his mettle in the ODIs, scoring 742 runs in 45 games and scalping 30 wickets at an average of 41.00. He also played in 41 T20Is, scoring 505 runs at a strike rate of 138.35 and taking 12 wickets at 38.41

About New Zealand:

Capital: Wellington

Prime Minister: Jacinda Ardern

Continent: Oceania

Currency: New Zealand dollar

 APPOINTMENTS & RESIGNATIONS

Senior IIS officer Vasudha Gupta appointed DG News at AIR

  • Indian Information Service officer, Vasudha Gupta was appointed as the director general of the news services division of All India Radio. Gupta, who was director general in the Press Information Bureau, assumed charge of her new post immediately. All India Radio Director General N Venudhar Reddy superannuated.
  • Gupta played a key role in implementing the communication strategies of the government during the COVID-19 pandemic and also helmed the fact-checking unit to curb misinformation about the viral outbreak.
  • A 1989-batch officer, Gupta has served in various capacities in the Ministry of Information & Broadcasting in her over a 32-year career. Gupta earned her degree in law from Chaudhary Charan Singh University and later was awarded an M.Phil degree by the Delhi School of Economics.

About All India Radio:

Founded: 1936, Delhi;

Founder: Government of India;

Headquarters: Sansad Marg, New Delhi;

Owner: Prasar Bharati.

 IMPORTANT DAYS

World Coconut Day 2022: 2nd September

  • World Coconut Day is celebrated on 2nd September every year. The day is observed to emphasise and spread knowledge of the value and advantages of coconuts. The coconut palm is often called the ‘tree of life’ owing to its versatile use in food, fuel, medicine, cosmetics, building materials, and various other uses.
  • In India, this day is celebrated with the support of the Coconut Development Board (CDB), across the states such as Kerala, Tamil Nadu, Karnataka, Goa, West Bengal, Andhra Pradesh, Orissa, etc. World Coconut Day is about coconut as a nutritious fruit, a crucial raw material, and a significant crop.
  • The International Coconut Community selects the World Coconut Day themes. The World Coconut Day theme for this year is “Growing Coconut for a Better Future and Life”.

About Asia Pacific Coconut Community (APCC) :

Established :  2nd September 1969

Headquarters location: Jakarta, Indonesia

First world coconut day: September 2, 2009

Rashtriya Poshan Maah begins across India with key focus on “Mahila aur Swasthya” and “Bacha aur Shiksha”

  • Ministry of Women and Child Development is celebrating the 5th Rashtriya Poshan Maah 2022 across the nation from 1st September till 30th September. Rashtriya Poshan Maah serves as a platform to bring focus to the discourse of nutrition and good health. Maah serves as a platform to bring focus to the discourse of nutrition and good health. In the 5th Rashtriya Poshan Maah, the aim is to convert Jan Andolan into Jan Bhagidari to fulfil the Prime Minister’s vision of a Suposhit Bharat. The Central Theme of Poshan Maah 2022 is “Mahila aur Swasthya” and “Bacha aur Shiksha”.
  • Poshan Maah is being celebrated as part of the POSHAN Abhiyaan, the Central Government’s flagship programme which aims to improve nutritional outcomes for children under 6 years of age, pregnant women and lactating mothers.

 BANKING AND ECONOMY

GST Collection Rises 28% In August To Rs 1.43 Lakh Crore

  • The GST collection remained above the Rs 1.4-trillion mark for the sixth straight month in August and the ensuing festival season will help continue the trend. The gross GST revenue collected in August 2022 is Rs 1.43 trillion of which CGST is Rs 24,710 crore, SGST is Rs 30,951 crore, IGST is Rs 77,782 crore (including Rs 42,067 crore collected on import of goods) and cess is Rs 10,168 crore (including Rs 1,018 crore collected on import of goods).
  • The revenues for the month of August 2022 are 28 per cent higher than the GST revenues of Rs 1,12,020 crore collected in August 2021. The collection in August is, however, lower than Rs 1.49 trillion collected in July. The mop-up was at a record high of Rs 1.67 trillion in April.

Indias air traffic may grow annually by average 7% till 2040: Boeing

  • Aircraft maker Boeing expects India’s air traffic to annually grow by nearly 7 per cent through 2040, and is bullish on the “massive potential” in the air cargo space. The company, which is a key player in both civil and defence aerospace segments, is also looking to increase the sourcing of raw materials from the country. Boeing Managing Director (Marketing) David Schulte said strong recovery is gaining further momentum in Indian aviation and it is one of the fastest growing markets.
  • India’s airlines will lead air traffic growth through 2040, growing at a rate of 6.9 per cent. The growth for the South East Asia market is pegged at 5.5 per cent, China (5.4 per cent), Africa (5.4 per cent) and Latin America (4.8 per cent), Boeing said in a presentation made.
  • Currently, two scheduled Indian carriers—SpiceJet and Air India Express—are using Boeing freighters. Boeing India President Salil Gupte said it is always looking at the possibility of increased raw material supplies from India. “Raw materials are going to be one area of focus. We have talked to various ministries. We have been working to try to enhance raw material supplies from India so that is going to be critical for indigenisation, both in defence and civil aerospace manufacturing space,” he said.
  • India has defence, engineering, software, technology, it has every element of our supply chain. From the simplest assemblies to the most complex aerostructures to composite materials like the floor beams of the 787. Every element of what we do is here,” he added. In the presentation, Boeing said that fuel prices, 70 per cent of an airline’s operational costs being priced in foreign currency and the lowest average fares for similar distances and demands are among the major challenges in India. As per the aircraft maker, its 737-10 plane with 9 per cent lower seat costs will help enable a strong aviation market with sustainable low fares.

About Boeing (Aerospace company):

Headquarters: Arlington, Virginia, United States

CEO: Dave Calhoun (13 Jan 2020–)

Founded: 15 July 1916, Seattle, Washington, United States

Founder: William E. Boeing

Chairperson: Dave Calhoun

President: Dave Calhoun

India's Unemployment Rate Zooms to 1-Year High of 8.3% in Aug: CMIE

  • India’s unemployment rate surged to a one-year high of 8.3 per cent in August as employment sequentially fell by 2 million to 394.6 million, according to data from the Centre for Monitoring Indian Economy (CMIE). During July, the unemployment rate was at 6.8 per cent and the employment was 397 million, the CMIE data added.
  • “The urban unemployment rate is usually higher at about 8 per cent than the rural unemployment rate, which is usually around 7 per cent.
  • The unemployment rate in rural India rose from 6.1 per cent in July to 7.7 per cent in August. More importantly, the employment rate fell from 37.6 per cent to 37.3 per cent.
  • During August, the unemployment was the highest in Haryana at 37.3 per cent followed by Jammu and Kashmir at 32.8 per cent, Rajasthan at 31.4 per cent, Jharkhand at 17.3 per cent and Tripura at 16.3 per cent, according to the data. While the unemployment was the lowest in Chhattisgarh at 0.4 per cent followed by Meghalaya at 2 per cent, Maharashtra at 2.2 per cent and Gujarat and Odisha at 2.6 per cent each, the data showed.

About Haryana:

Capital: Chandigarh

Governor: Bandaru Dattatreya

Chief Minister: Manohar Lal Khattar

About Chhattisgarh :

Capital: Raipur (Executive Branch)

Governor: Anusuiya Uikey

Chief Minister: Bhupesh Baghel

 

 

 

 

Daily Current Affairs- 2 September

Author : Palak Khanna

September 2, 2022

SHARE

Today's Current Affairs-2nd September 2022

INTERNATIONAL

IMF-Sri Lanka reach staff level agreement, Fund provisionally agrees on $2.9 billion loan

  • Bankrupt Sri Lanka agreed a conditional $2.9 billion bailout with International Monetary Fund negotiators, as the island nation seeks to overcome a bruising economic crisis that saw its president flee the country. Months of acute food, fuel and medicine shortages, extended blackouts and runaway inflation have plagued the country after it ran out of dollars to finance even the most essential imports.
  • The Extended Fund Facility will support Sri Lanka’s program to restore macroeconomic stability and debt sustainability, the IMF said in a statement Thursday. The 48-month program will be subject to approval by IMF management and the board. The South Asian nation is grappling with its worst economic crisis since independence alongside a political turmoil that led to the formation of a new government. Dwindling foreign-exchange reserves, crippling shortages of essential items and Asia’s fastest inflation have hammered the $81 billion economy.
  • IMF’s senior mission chief Peter Breuer said a timeline for the loan disbursement would be difficult to ascertain. He also reinforced the need for urgent, short-term support for Sri Lanka to avert a humanitarian crisis.
  • Sri Lanka must implement major tax reforms including making personal income tax more progressive while broadening tax base for corporate income tax and VAT to meet a primary surplus of 2.3% of GDP by 2025
  • Reduce corruption vulnerabilities by improving fiscal transparency and public financial management.
  • Ahead of the IMF pact, Sri Lanka increased the value-added tax to 15% from 12% starting Sept. 1 and unveiled plans earlier this week to boost revenue to 15% of gross domestic product by 2025, reduce debt-to-GDP ratio to 100%, hit a 5% economic growth over the medium term and cool inflation that has accelerated above 60% to below 10%.

About Sri Lanka:

Capitals: Colombo, Sri Jayawardenepura Kotte

President: Ranil Wickremesinghe

Currency: Sri Lankan rupee

Prime Minister: Dinesh Gunawardena

Official languages: Sinhala, Tamil

About International Monetary Fund (IMF):

Founded: July 1944, Bretton Woods, New Hampshire, United States

Founders: John Maynard Keynes, Harry Dexter White

Managing Director: Kristalina Georgieva

 NATIONAL

India’s indigenous aircraft carrier and largest warship INS Vikrant joins Navy

  • INS Vikrant Commissioned: INS Vikrant, India’s first homegrown aircraft carrier, to the Indian Navy at the Cochin Shipyard commissioned by Prime Minister Narendra Modi. The nation’s largest warship, weighing 45,000 tonnes, has finished a year of sea trials. The warship’s construction cost Rs 20,000 crore. The new Naval emblem was also revealed by the Prime Minister.
  • An imitation of the INS Vikrant was given to Prime Minister Narendra Modi.
  • The first aircraft carrier made entirely in India, INS Vikrant, is given to the Indian Navy by Prime Minister Narendra Modi. Following the construction of INS Vikramaditya, this is the country’s second aircraft carrier.
  • The new flag of the Indian Navy is raised by Prime Minister Narendra Modi, Kerala Chief Minister Pinarayi Vijayan, and other top officials aboard INS Vikrant.
  • Vikrant, the largest warship built entirely in India, would fly 30 fighter planes and helicopters. The aircraft carrier, which was built at the Cochin shipyard and will provide the Indian Navy with a third aircraft carrier, has a crew of more than 1,500.

 SPORTS

VAR technology to make debut in FIFA U-17 Women's World Cup in India

  • The upcoming Under-17 Women’s World Cup 2022 in India will see the Video Assistant Referee (VAR) technology making its debut in the age-group showpiece, world football governing body FIFA announced. The prestigious tournament, which was given the go-ahead by FIFA after lifting the 11-day-long suspension of the All India Football Federation (AIFF), will be held in Bhubaneswar (Kalinga Stadium), Margao (JLN Stadium) and Navi Mumbai (DY Patil Stadium) from October 11-30.
  • The VAR technology supports the decision-making process of the referee in four game-changing situations: goals and offences leading up to a goal, penalty decisions and offences leading up to a penalty, direct red card incidents, and mistaken identity. Throughout a match, the VAR team constantly checks for clear and obvious errors related to these four match-changing situations. The VAR team communicates with the referee only for clear and obvious mistakes or serious missed incidents.

About International Federation of Association Football (FIFA):

President: Gianni Infantino

Founded: 21 May 1904, Rue Saint-Honoré, Paris, France

Headquarters: Zürich, Switzerland

New Zealand All-rounder Colin de Grandhomme Retires from International Cricket

  • New Zealand all-rounder Colin de Grandhomme has announced his retirement from international cricket. The 36-year-old cricketer made his decision after discussions with the country’s cricket board and hence, has been released from his central contract. In the 2019 ICC Cricket World Cup, he starred with a 47-ball 60 in a pulsating victorious chase against South Africa, scored 64 against Pakistan, and bowled superbly in the final against England, taking one for 25 off his 10 overs.
  • He represented New Zealand in 29 matches, scoring 1432 runs at 38.70 and picking up 49 wickets. He featured in 18 wins, playing a key role in the inaugural ICC World Test Championship campaign against India in Southampton.
  • The all-rounder also proved his mettle in the ODIs, scoring 742 runs in 45 games and scalping 30 wickets at an average of 41.00. He also played in 41 T20Is, scoring 505 runs at a strike rate of 138.35 and taking 12 wickets at 38.41

About New Zealand:

Capital: Wellington

Prime Minister: Jacinda Ardern

Continent: Oceania

Currency: New Zealand dollar

 APPOINTMENTS & RESIGNATIONS

Senior IIS officer Vasudha Gupta appointed DG News at AIR

  • Indian Information Service officer, Vasudha Gupta was appointed as the director general of the news services division of All India Radio. Gupta, who was director general in the Press Information Bureau, assumed charge of her new post immediately. All India Radio Director General N Venudhar Reddy superannuated.
  • Gupta played a key role in implementing the communication strategies of the government during the COVID-19 pandemic and also helmed the fact-checking unit to curb misinformation about the viral outbreak.
  • A 1989-batch officer, Gupta has served in various capacities in the Ministry of Information & Broadcasting in her over a 32-year career. Gupta earned her degree in law from Chaudhary Charan Singh University and later was awarded an M.Phil degree by the Delhi School of Economics.

About All India Radio:

Founded: 1936, Delhi;

Founder: Government of India;

Headquarters: Sansad Marg, New Delhi;

Owner: Prasar Bharati.

 IMPORTANT DAYS

World Coconut Day 2022: 2nd September

  • World Coconut Day is celebrated on 2nd September every year. The day is observed to emphasise and spread knowledge of the value and advantages of coconuts. The coconut palm is often called the ‘tree of life’ owing to its versatile use in food, fuel, medicine, cosmetics, building materials, and various other uses.
  • In India, this day is celebrated with the support of the Coconut Development Board (CDB), across the states such as Kerala, Tamil Nadu, Karnataka, Goa, West Bengal, Andhra Pradesh, Orissa, etc. World Coconut Day is about coconut as a nutritious fruit, a crucial raw material, and a significant crop.
  • The International Coconut Community selects the World Coconut Day themes. The World Coconut Day theme for this year is “Growing Coconut for a Better Future and Life”.

About Asia Pacific Coconut Community (APCC) :

Established :  2nd September 1969

Headquarters location: Jakarta, Indonesia

First world coconut day: September 2, 2009

Rashtriya Poshan Maah begins across India with key focus on “Mahila aur Swasthya” and “Bacha aur Shiksha”

  • Ministry of Women and Child Development is celebrating the 5th Rashtriya Poshan Maah 2022 across the nation from 1st September till 30th September. Rashtriya Poshan Maah serves as a platform to bring focus to the discourse of nutrition and good health. Maah serves as a platform to bring focus to the discourse of nutrition and good health. In the 5th Rashtriya Poshan Maah, the aim is to convert Jan Andolan into Jan Bhagidari to fulfil the Prime Minister’s vision of a Suposhit Bharat. The Central Theme of Poshan Maah 2022 is “Mahila aur Swasthya” and “Bacha aur Shiksha”.
  • Poshan Maah is being celebrated as part of the POSHAN Abhiyaan, the Central Government’s flagship programme which aims to improve nutritional outcomes for children under 6 years of age, pregnant women and lactating mothers.

 BANKING AND ECONOMY

GST Collection Rises 28% In August To Rs 1.43 Lakh Crore

  • The GST collection remained above the Rs 1.4-trillion mark for the sixth straight month in August and the ensuing festival season will help continue the trend. The gross GST revenue collected in August 2022 is Rs 1.43 trillion of which CGST is Rs 24,710 crore, SGST is Rs 30,951 crore, IGST is Rs 77,782 crore (including Rs 42,067 crore collected on import of goods) and cess is Rs 10,168 crore (including Rs 1,018 crore collected on import of goods).
  • The revenues for the month of August 2022 are 28 per cent higher than the GST revenues of Rs 1,12,020 crore collected in August 2021. The collection in August is, however, lower than Rs 1.49 trillion collected in July. The mop-up was at a record high of Rs 1.67 trillion in April.

Indias air traffic may grow annually by average 7% till 2040: Boeing

  • Aircraft maker Boeing expects India’s air traffic to annually grow by nearly 7 per cent through 2040, and is bullish on the “massive potential” in the air cargo space. The company, which is a key player in both civil and defence aerospace segments, is also looking to increase the sourcing of raw materials from the country. Boeing Managing Director (Marketing) David Schulte said strong recovery is gaining further momentum in Indian aviation and it is one of the fastest growing markets.
  • India’s airlines will lead air traffic growth through 2040, growing at a rate of 6.9 per cent. The growth for the South East Asia market is pegged at 5.5 per cent, China (5.4 per cent), Africa (5.4 per cent) and Latin America (4.8 per cent), Boeing said in a presentation made.
  • Currently, two scheduled Indian carriers—SpiceJet and Air India Express—are using Boeing freighters. Boeing India President Salil Gupte said it is always looking at the possibility of increased raw material supplies from India. “Raw materials are going to be one area of focus. We have talked to various ministries. We have been working to try to enhance raw material supplies from India so that is going to be critical for indigenisation, both in defence and civil aerospace manufacturing space,” he said.
  • India has defence, engineering, software, technology, it has every element of our supply chain. From the simplest assemblies to the most complex aerostructures to composite materials like the floor beams of the 787. Every element of what we do is here,” he added. In the presentation, Boeing said that fuel prices, 70 per cent of an airline’s operational costs being priced in foreign currency and the lowest average fares for similar distances and demands are among the major challenges in India. As per the aircraft maker, its 737-10 plane with 9 per cent lower seat costs will help enable a strong aviation market with sustainable low fares.

About Boeing (Aerospace company):

Headquarters: Arlington, Virginia, United States

CEO: Dave Calhoun (13 Jan 2020–)

Founded: 15 July 1916, Seattle, Washington, United States

Founder: William E. Boeing

Chairperson: Dave Calhoun

President: Dave Calhoun

India's Unemployment Rate Zooms to 1-Year High of 8.3% in Aug: CMIE

  • India’s unemployment rate surged to a one-year high of 8.3 per cent in August as employment sequentially fell by 2 million to 394.6 million, according to data from the Centre for Monitoring Indian Economy (CMIE). During July, the unemployment rate was at 6.8 per cent and the employment was 397 million, the CMIE data added.
  • “The urban unemployment rate is usually higher at about 8 per cent than the rural unemployment rate, which is usually around 7 per cent.
  • The unemployment rate in rural India rose from 6.1 per cent in July to 7.7 per cent in August. More importantly, the employment rate fell from 37.6 per cent to 37.3 per cent.
  • During August, the unemployment was the highest in Haryana at 37.3 per cent followed by Jammu and Kashmir at 32.8 per cent, Rajasthan at 31.4 per cent, Jharkhand at 17.3 per cent and Tripura at 16.3 per cent, according to the data. While the unemployment was the lowest in Chhattisgarh at 0.4 per cent followed by Meghalaya at 2 per cent, Maharashtra at 2.2 per cent and Gujarat and Odisha at 2.6 per cent each, the data showed.

About Haryana:

Capital: Chandigarh

Governor: Bandaru Dattatreya

Chief Minister: Manohar Lal Khattar

About Chhattisgarh :

Capital: Raipur (Executive Branch)

Governor: Anusuiya Uikey

Chief Minister: Bhupesh Baghel

 

 

 

 

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