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Current Affairs 26 February 2023
1. Chairman and managing director of JSW group Sajjan jindal won the EY Entrepreneur of the year Award 2022
- Sajjan Jindal, Chairman and Managing Director, JSW Group was
named the EY Entrepreneur of the Year™ 2022 and will now represent India at the EY World Entrepreneur of the Year Award (WEOY) at Monte Carlo in June 2023. Shri Hardeep Singh Puri, Honorable Union Minister for Housing & Urban Affairs & Minister for Petroleum and Natural Gas, graced the ceremony as the Chief Guest and addressed the audience. Sri Amitabh Kant, G20 Sherpa and Former NITI Aayog CEO, presented the Special Jury Award to Mr. Deepak Bagla, Managing Director and CEO of Invest India, for his visionary work to attract and facilitate unprecedented foreign investments into the country.
2. 4 Years of Pradhan Mantri Kisan Samman Nidhi Yojana completed
- The Pradhan Mantri Kisan Samman Nidhi Yojana (PM-KISAN)
completed 4 years on 24 February 2023.The scheme was first conceived and implemented by government of Telangana as the Rythu Bandhu scheme, where a certain amount is given directly to eligible farmers. The scheme has received accolades[6] from various organisations for its successful implementation, including World Bank. Many economist suggest that this type of investment support is better than farm loan waivers.
3. UAE to host first I2U2 vice-ministerial meeting in Abu Dhabi
- The United Arab Emirates is set to host the first vice-ministerial
meeting of the I2U2 in Abu Dhabi this week. It will be attended by senior officials from the four countries – India, Israel, the United States and the UAE. - Under Secretary of State for Economic Growth, Energy, and the Environment Jose W Fernandez will lead the US delegation at the meeting in Abu Dhabi on February 21-22, according to an official statement. Fernandez will represent the US at the I2U2 Business Forum, hosted by the UAE.
Foot Notes:
Capital: Abu Dhabi
President: Mohammed bin Zayed Al Nahyan
4. Financial crime watchdog FATF suspends Russia's membership over Ukraine war
- The Financial Action Task Force (FATF) suspended Russia’s
membership for its “illegal, unprovoked and unjustified” full-scale military invasion of Ukraine, an official statement said. Russia’s actions were “unacceptably run” counter to FATF’s core principles that aims to promote security, safety, and integrity of the global financial system, it said. - The global watchdog on terror financing said it is also deeply concerned by the reports of arms trade between Russia and United Nations sanctioned jurisdictions, and malicious cyber-activities emanating from Russia. The Russian Federation remains accountable for its obligation to implement the FATF standards.
Foot Notes:
About Russia:
Capital: Moscow
Currency: Russian Ruble
President: Vladimir Putin
About Ukraine:
Capital: Kyiv
Currency: Ukrainian hryvnia
President: Volodymyr Zelenskyy
5. Germany to pursue $5.2-billion deal with India to build 6 submarines
- Germany will pursue a $5.2 billion deal with India to jointly build six
conventional submarines in the country during Chancellor Olaf Scholz’s February 25-26 visit, two Indian and two German sources said. - The naval project is the latest attempt by a Western military manufacturing power to wean New Delhi away from its dependence on Russia for military hardware. India seeks to replace its ageing submarine fleet, with 11 of its 16 conventional submarines more than two decades old, and as it seeks to counter China’s growing presence in the Indian Ocean.
Foot Notes:
About Germany:
Capital: Berlin
President: Frank-Walter Steinmeier
6. PM Modi Plays Drums As He Inaugurates 'Barisu Kannada Dim Dimava' Festival In Delhi
- Prime Minister Narendra Modi inaugurated the 'Barisu Kannada
Dim Dimava' cultural festival at Talkatora Stadium in New Delhi. PM Modi played the drums to initiate the festival. - ‘Barisu Kannada Dim Dimava’ cultural festival is being organized to celebrate Karnataka’s culture, traditions, and history. It is in line with the Prime Minister’s vision of ‘Ek Bharat Shreshtha Bharat’. The festival, being held under the aegis of Azadi Ka Amrit Mahotsav, will provide an opportunity for hundreds of artists to showcase Karnataka’s cultural heritage through dance, music, drama, and poetry
7. Supreme Court launches 'neutral citations' of judgments
- The Supreme Court has launched “neutral citations” of judgments
to ensure a uniform pattern of citing its decisions. - Earlier, the top court said steps had been taken for the introduction and implementation of a uniform, reliable and secure methodology for identifying and citing decisions in the apex court, namely the neutral citations system, to ensure a uniform pattern of citing all decisions of the top court. As soon as a Bench led by the CJI assembled to hear urgent mentioning of matters for listing, the CJI announced that all judgments of the top court would have neutral citations.
8. GST collections record second highest mop-up of Rs 1.56 lakh crore in January
- India collected Rs 1.56 lakh crore as Goods and Services Tax
(GST) in January. At Rs 1.56 lakh crore, the GST collections for January are second only to the record Rs 1.68 lakh crore collected in April 2022. It is up 10.6 percent from the first month of 2022 and 4.3 percent higher from December 2022. - GST collections stood at Rs 1.5 lakh crore in December 2022 and Rs 1.41 lakh crore in January 2022.The latest number means GST collections have now exceeded the Rs 1.4-lakh crore mark for 11 months in a row.
9. India 7th biggest nation ready to adopt crypto in 2023, US second
- Amid the Union Finance Minister Nirmala Sitharaman discussed
global debt vulnerabilities and cryptocurrency assets on the sidelines of the G20 finance chiefs meeting, a new report on countries willing to adopt and legalise the currency to increase its accessibility has arrived. - According to HedgewithCrypto research, Australia is the biggest country when it comes to the adoption of cryptocurrency in 2023 with a score of 7.37 out of 10. The sale of cryptocurrency and other digital assets is legal and regulated in Australia. India emerged as 7th biggest nation ready to adopt crypto in 2023.
10. Third day of IDEX, NAVDEX 2023 sees signing of 11 deals worth $1.5bn
- UAE’s Tawazun Council signed 9 deals with local and foreign
companies worth 5.7 billion dirhams ($1.5 billion) on behalf of the country’s Defense Ministry on Wednesday(22 February, 2023) — the third day of the International Defense and Naval Defense exhibitions currently underway in Abu Dhabi. - The council also signed two deals worth 134 million dirhams on behalf of the Abu Dhabi Police. With the signing of these 11 deals, the number of agreements signed across the ongoing defense expo reached 34 worth 18.4 billion dirhams, according to the council's spokesmen Majed Ahmed Al-Jaberi and Zayed Saeed Al-Meraikhi.
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