Today's Current Affairs 31st December 2022

NATIONAL

'Dhanu Yatra' the largest open-air theatre performance begin

• The ‘Dhanu Yatra’ festival, the largest open-air theatre festival began after a gap of two years, in Bargarh at the Odisha. The vibrant Dhanu Yatra is associated with the culture of Odisha. The Festival is being held from December 27 to Jan 6, 2023. Several artists from 130 cultural troupes from across the country are scheduled to perform during the festival. Around 3,000 artistes of 130 cultural troupes from across the country is participating in the festival. However, Kansa is the central attraction of the Dhanu Yatra.
• Dhanu Yatra, the eleven day long annual extravaganza places Bargarh in the Cultural Map of India. It is at par with the standard of Odishan Heritage and culture. It is an open-air theatre festival stretching more than 5 square K.M and comprising a village and a town in between.

Madras High Court Bans Mobile Phones In Temples Across Tamil Nadu

• The Madurai Bench of Madras High Court has prohibited devotees from carrying mobile phones inside temples in Tamil Nadu. The Division Bench of Justice R. Mahadevan and J Sathya Narayana Prasad held that the gadgets divert the attention of the devotees from the purpose of visiting the temple.
• The Tamil Nadu Temple Entry Authorization Act 1947, and the Rules empower the trustees or any authority in charge of the temple to make regulations for the maintenance of order and decorum in the temple.
• The court noted that mobile phone ban have been implemented in famed temples.
• These temples include Sri Krishna Temple at Guruvayur, Kerala, Meenakshi Sundareshwara Temple at Madurai, Tamil Nadu, and Sri Venkateshwara Temple at Tirupati, Andhra Pradesh.

Food processing industry invests Rs 4,900 crore under PLI scheme so far: Government

• The government said that the food processing industry has invested Rs 4,900 crore so far under the production-linked incentive (PLI) scheme. The PLI scheme for the food processing industry was approved in March 2021, with a budget outlay of Rs 10,900 crore. It will be implemented for seven years, until 2026-27.
• A total of 182 applications have been approved under the PLI scheme for the food processing industry. This includes 30 applications for millets-based products under the PLI scheme (8 large entities and 22 SMEs). Incentives amounting to Rs 800 crore are likely to be disbursed in the current financial year. Sales-based incentive of Rs 107.3 crore has been disbursed so far.
• PLI beneficiaries’ investments are likely to increase sales and exports of food products. The scheme requires that the entire chain of manufacturing processes, including primary processing of food products, take place in India in order to qualify for the incentive, which is expected to boost domestic industry. It was also stated that the scheme will aid in the promotion of Indian brands abroad.

 SCIENCE & TEHNOLOGY

IIT Roorkee, AIIMS Delhi develop SwasthGarbh app providing real-time medical support to pregnant women

• To create the SwasthGarbh app, the Indian Institute of Technology (IIT) Roorkee and the All India Institute of Medical Sciences (AIIMS) New Delhi worked together. Pregnant women can access antenatal care and real-time medical support through the smartphone app. The software may be downloaded for free from the Google Play Store.
• SwasthGarbh app may be a crucial tool for women in rural areas and those who do not have easy access to doctors, according to a statement made by IIT Roorkee.
• The software was created by Sahil Sharma, Professor Deepak Sharma, Professor Vatsla Dadhwal, and Professor Aparna Sharma from the AIIMS in Delhi, all of whom work in the Department of Biosciences and Bioengineering at IIT Roorkee.
• The app helps expectant mothers by assuring punctual prenatal care appointments, documenting each clinical test, and enhancing medication adherence.
• The clinical evaluation of 150 patients showed how useful the app is for enhancing antenatal care quality and minimising problems.

 SUMMIT'S & MOU's

Tribal Affairs Ministry, Amazon Launch Computer Skills Training Programme For Teachers Of Tribal Schools

• In conjunction with the Learning Links Foundation, the National Education Society for Tribal Students (NESTS) was setting up a two-day face-to-face capacity building program which was held on 28th and 29th of December 2022, for EMRS teachers to implement the Amazon Future Engineer Program (LLF).
• The relationship between NESTS and amazon, according to Union Minister for Tribal Affairs Shri Arjun Munda, will empower educators and students in the area of digital education. He further stated that the programme will aid in the beginning of digital contact with those living in remote places in the present decade. He claimed that the Future Engineer Program will be extremely beneficial to EMRS students. Additionally, he said that the Future Engineer Program would help the tribal students at EMRSs become more computer literate.

Jaishankar signs defense cooperation agreement with Cyprus on visit

• At a joint news conference held in Nicosia, Cyprus, Foreign Minister of Cyprus Ioannis Kasoulides and External Affairs Minister S. Jaishankar signed three important agreements. The two ministers had fruitful conversations during Jaishankar’s first official visit to Cyprus about bilateral relations, multilateral cooperation, geopolitical and regional problems, the Indo-Pacific issue, the Middle East, Europe, and India’s relationship with the European Union.
• Jaishankar also stated at the meeting how crucial the partnership between India and Cyprus is.
• It is based on our shared principles of democracy, diversity, pluralism, and respect for the law, he claimed.
• Both are driven by similar beliefs and guiding principles as India and Cyprus develop their own relationships and collaborate with other parties.
• The UN Security Council has expressed concern over unauthorized activities in the buffer zone separating the Greek and Turkish communities in the northern and southern regions of the Mediterranean island since 1974.

 AWARDS & RECOGNITION

Chhattisgarh police ‘Nijaat’ campaign received IACP 2022 Award

• International Association of Chiefs of Police (IACP), the US-based international organisation has selected the anti-drug & illicit liquor campaign ‘Nijaat’ of Chhattisgarh police for ‘Leadership in Crime Prevention’ award in the institutional category. The prestigious IACP 2022 Award has selected the de-addiction drive ‘Nijaat’, which was executed following the directive by chief minister Bhupesh Baghel to act tough against drug peddlers, and bootleggers and check to smuggling of drugs. A successful singular campaign, ‘Nijaat’ witnessed the striking results to achieve a drug-free society with missionary zeal.
• The campaign was launched by the Chhattisgarh police under the leadership of the IPS officer Santosh Kumar Singh who pioneered the drive with intensified efforts in districts of Korea, Rajnandgaon and presently continuing in Korba.

 BANKING AND ECONOMY

RBI releases the Financial Stability Report, December 2022

• The 26th edition of the Financial Stability Report was released by the Reserve Bank of India on December 29. The Reserve Bank of India publishes a financial stability report (FSR) every two years (RBI). The report reflects the Sub-Committee of the Financial Stability and Development Council’s (FSDC) collective evaluation of the financial system’s resilience and vulnerabilities to financial stability.
• With recessionary dangers hanging large, the global economy is contending with significant obstacles.
• Multiple shocks acting in concert have tightened financial conditions and increased market volatility.Strong international headwinds are affecting the Indian economy.
• The findings of the stress tests, which are published in this issue of the FSR, show that, should they occur, even extremely severe stress circumstances, banks would be able to survive them.
• Credit risk macro stress tests show that SCBs would be able to meet the minimum capital requirements even in the most extreme stress scenarios.

Centre's fiscal deficit for April-November period at 58.9% of FY23 target

• The government’s fiscal deficit in end-November touched 59 per cent of the full year Budget Estimate on increased capital expenditure and slow growth in non-tax revenue. In actual terms, the fiscal deficit, which is the difference between expenditure and revenue, was Rs 9.78 lakh crore during the April-November period of 2022-23. In the corresponding period last year, the deficit was 46.2 per cent of the Budget Estimates of 2021-22.
• The government has budgeted fiscal deficit to be Rs 16.61 lakh crore or 6.4 per cent of the GDP in the current year ending March 2023. The deficit is funded by market borrowings. Capital expenditure was at Rs 4.47 lakh crore or 59.6 per cent of BE between April-November. In the last fiscal, capex was 49.4 per cent of BE.
• As per the Controller General of Accounts (CGA) data, the net tax revenue at Rs 12.24 lakh crore was 63.3 per cent of BE 2022-23. During the corresponding period of 2021-22, the net tax revenue was 73.5 per cent of that year’s BE. Non-tax revenue was at Rs 1.98 lakh crore or 73.5 per cent of BE. In the last fiscal, the collection was 91.8 per cent of BE.

Core sector output growth in November rises to 5.4 percent

• Production of eight infrastructure sectors increased by 5.4 per cent in November against a 3.2 per cent growth in the same month last year on a better show by coal, fertiliser, steel, cement and electricity segments. Crude oil, natural gas and refinery products, however, recorded negative growth in November this year. The production growth of eight key sectors slowed down to 0.9 per cent in October.
• The growth rate of eight infrastructure sectors — coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity — stood at 8 per cent in April-November this fiscal as against 13.9 per cent during the same period last fiscal.
• The production of coal rose by 12.3 per cent, fertiliser by 6.4 per cent, steel by 10.8 per cent, cement by 28.6 per cent and electricity by 12.1 per cent in November 2022 compared to a year ago.