• Recognising the potential of the MSME and their role in strengthening economies, June 27 is celebrated as the Micro-Small and Medium-sized Enterprises Day. The day is aimed at raising public awareness of the contribution of MSMEs to global economic growth and sustainable development. MSME or Micro-Small and Medium-sized Enterprises are crucial for the growth of a country as they form the backbone of the economy. They are enterprises that usually employ not more than 250 employees but are responsible for creating more than two-thirds of all jobs globally.
• According to the United Nations, formal and informal MSMEs account for 70 per cent of the total employment and 50 per cent of the GDP. Moreover, the sector makes up for 90 per cent of all firms. With such significant contribution to the economy, MSMEs are essential for innovations, job creation, and productivity growth.
• The Micro-Small and Medium-sized Enterprises Day was marked by the United Nations General Assembly in its 74th Plenary on April 6 2017. The move came after the International Council for Small Business (ICSB) 2016 World Conference Declaration on the urgent need to recognise MSME’s role in global development.

• Union Minister of State (Independent Charge) Science & Technology, Dr Jitendra Singh will take part in the “2022 UN Ocean Conference” at Lisbon, which starts from June 27.
• The conference is co-hosted by the Governments of Kenya and Portugal.
• He will deliver the Keynote address at the Conference on the theme 'Scaling up Ocean Action based on Science and Innovation for the implementation of Goal 14: Stock taking, Partnerships and Solutions'.

• The World Bank has approved a $245-million loan for the Indian Railways to reduce the India’s high carbon emissions and low modal freight share in the railways.
• The Indian Railway project will help India to shift more traffic from road to rail.
• This will make transport more efficient and reduce tonnes of greenhouse gas emissions each year.
• This loan is financed through the International Bank for Reconstruction and Development with a maturity of 22 years.

• Zomato (Online food delivery platform) has announced to acquire Blinkit, which was earlier known as Grofers, in an all-stock deal of Rs 4,447 crore.
• Zomato would acquire up to 33,018 equity shares of Blink Commerce Pvt Ltd.
• The total purchase consideration of Rs 4,447.48 crore at a price of Rs 13.45 lakh per equity share.
• Last year, Zomato had bought a 10% stake in Blinkit for about $100 million.

• The National Health Authority (NHA) will organise its first ever open-to-all hackathon series in the Ayushman Bharat Digital Mission ecosystem.
• Aim: To drive ideation and innovations.
• The series of hackathon will begin on July 14, 2022.
• This also focus on the Unified Health Interface (UHI) and to mobilise the health start-up ecosystem in India.
• UHI is designed as an open network to enable the interoperable transaction of digital health services.

• The Indian women's recurve team of Deepika Kumari, Ankita Bhakat and Simranjeet Kaur has clinched for a silver medal at the World Cup Stage 3 in Paris.
• India has lost to Chinese Taipei by 1-5 in the women's recurve team final.
• India has concluded their campaign with one gold and two silver medals.
• The duo of Abhishek Verma-Jyothi Surekha Vennam win gold in compound mixed team event.
• In Individual event,  Jyothi Surekha Vennam has clinched silver.

• Tata Power Solar Systems has commissioned India's largest floating solar power project of 101.6 Megawatt Peak (MWp) in Kerala backwaters.
• The project has been installed on a 350-acre water body in Kayamkulam, Kerala.
• The installation was completed within the stipulated period, despite the various challenges of variable like water depths, high sea tides, and severe water salinity concern.
• Tata Power Solar is a wholly-owned subsidiary of Tata Power.

• The UK, the United States, Japan and Canada will soon ban the new imports of gold from Russian, to tighten the sanctions squeeze on Moscow for its invasion of Ukraine.
• Countries will apply for newly mined or refined gold.
• This move will not affect previously exported Russian gold.
• Last year, the exports of Russian gold were worth 12.6 billion pounds.
• Recently, the London Bullion Market Association has suspended accreditation for 6 Russian precious metals refiners.

• Mo Bus, Odisha-based public transport service has been honored with a prestigious United Nations award, for their role and efforts in helping the world recover better from Covid19. The public transport service has been recognised for its role in “promoting gender-responsive public services to achieve the SDGs (Sustainable Development Goals)”, the UN said.
• Among the other winners of this year’s awards, announced by Liu Zhenmin, United Nations Under-Secretary-General for Economic and Social Affairs during a virtual event to commemorate the United Nations Public Service Day (celebrated on June 22), were public service initiatives from Thailand, Brazil, Canada, Ireland, Panama, the Philippines, Poland, Saudi Arabia, and Ukraine.

• The Goods and Service Taxes (GST) Council is going to talk about changing the law to make it easier to create GST tribunals. A report by a Group of Ministers (GoM) on online gambling, casinos, and racetracks will also be discussed by the Council. The GoM has proposed that rates and valuation standards for the 28 percent GST that will be imposed on casinos, racetracks, internet gambling, and lotteries be uniform. It said that no distinction should be made between games of skill and games of chance for the purposes of the levy.
• It is advised that in the case of online gaming, the full value of consideration will take into account any contest entry fees, player participation fees, etc., whereas in the case of racetracks, the full value of bets placed with bookmakers and pooled in the totalisator should be taken into account.

Download Daily GK PDF of  27 June 2022