Current Affairs

2 March, 2021

International

IAF gifts 1971 war helicopter to Bangladesh: Golden Jubilee of 1971 war

In order to mark the Golden Jubilee of 1971 War of Liberation, IAF (Indian Air Force) Chief RKS Bhadauria gifted a Legacy Alouette III Helicopter to Bangladesh Air Force (BAF), in return BAF gifted a legacy F-86 Sabre aircraft to the IAF. The exchange of aircraft took place in Dhaka during RKS Bhadauria’ 4-day visit to Bangladesh in February, 2021.

Madagascar President inaugurated Advanced Digital Cobalt Therapy Machine Bhabhatron-II donated by India

i.The President of Madagascar, Andry Rajoelina, inaugurated advanced digital cobalt therapy machine “Bhabhatron-II” for cancer treatment at the Joseph Ravoahangy Andrianavalona Hospital (HJRA) in Antananarivo in the presence of India’s Ambassador to Madagascar Abhay Kumar.
ii.It should be noted that Bhabhatron-II is donated by India to Madagascar under the cooperation in the health sector. It is developed by Bhabha Atomic Research Centre (BARC).
About Madagascar:
Capital– Antananarivo
Currency– Malagasy ariary

India, Pakistan agree to observe ‘2003 Ceasefire Agreement’

India & Pakistan agreed to strictly observe the ‘2003 Ceasefire Agreement’ along the Line of Control (LoC) with effect from the midnight of February 24/25, 2021. It was announced by the two countries after discussions between the Director Generals of Military Operations (DGsMO) of both Countries. With this both countries will abide by all agreements on ceasefire along the Line of Control (LoC) & sectors of the International Border to achieve mutually beneficial & sustainable peace along the borders.

National

Pandemic to leave 375 Million Children in India with Health, Economic Impacts: SoE 2021 report

According to the State of India’s Environment 2021 (SoE 2021) Annual report released by Down to Earth Magazine in association with Centre for Science & Environment (CSE), India is set to begin a ‘pandemic generation’ as 375 million children (0-14 year-olds) may suffer long-lasting impacts such as underweight, stunting & increased child mortality, to losses in education & work productivity due to pandemic.

S.Jaishankar addressed virtual 5th Asia Economic Dialogue (AED) 2021

i.The 5th Asia Economic Dialogue (AED) 2021 was virtually convened by the Ministry of External Affairs (MEA), India and Pune International Centre (PIC) on the theme “Post Covid-19 Global Trade and Finance Dynamics”.
ii.Its inaugural session was addressed by Union Minister Dr. Subrahmanyam Jaishankar, MEA on “Resilient Global Growth in a Post-Pandemic World”.
iii.The dialogue saw the discussions between COVID-19’s impact on trade and finance, on the world and on Asia as well as strategies to deal with this impact.
About Ministry of External Affairs:
Subrahmanyam Jaishankar Constituency– Gujarat
Minister of State– Vellamvelly Muraleedharan

Economy

GDP grows 0.4% in Q3FY21, India exits technical recession:NSO

i.In accordance with the National Statistical Office (NSO), Ministry of Statistics and Program Implementation (MoSPI) second advanced estimate, the growth of India’s Gross Domestic Product (GDP) is estimated at 0.4% in Q3FY21 (October-December, 2020) stating India’s exit from technical recession.
ii.On the other hand, for full FY21, a contraction of 8% (-8%) was projected which is higher than the forecasts of the Economic Survey (7.7%) and the Reserve Bank of India-RBI (7.5%).
iii.For FY20 also, NSO lowered the economic growth to 4% from 4.2%.
About Ministry of Statistics and Programme Implementation (MoSPI):
Minister of State (MoS), Independent Charge – Rao Inderjit Singh

Alliance Insurance launched SMEInsure to insure 5 crore Small and Medium Enterprises

i.In order to provide financial security to Micro, Small and Medium Enterprises (MSMEs), small shop and business owners on February 28, 2021, Alliance Insurance launched SMEInsure. It is a portal to insure 5 crore Small and Medium Enterprises (SMEs) under the insurance category.
ii.Notably, the portal will provide insurance services in a phygital format i.e. physical, through individual personal assistance and digital insurance through the portal.
iii.The target of Alliance Insurance is to reach more than 5 crore SMEs in the first year and expect a revenue of Rs 10 crore. Approximately 97% of the SMEs in India are not insured.
About Alliance Insurance:
Chief Executive Officer & Principal Officer– S. V. Thakkar
Headquarter– Mumbai, Maharashtra

Current inflation target band appropriate for next 5 years: RBI report

i.In accordance with the internal report from the Reserve Bank of India (RBI) namely ‘Report on Currency and Finance (RCF) for the year 2020-21″ on the theme “Reviewing the Monetary Policy Framework”, India’s medium-term inflation target of 4% with a +/-2 % tolerance band is appropriate for the country. This is in lieu of the RBI’s flexible inflation targeting (FIT) mandate.
ii.India adopted the flexible inflation targeting framework in 2016 and the government is due to review the same before March 31, 2021.
iii.The period of study in this report is from October 2016 to March 2020.
About Reserve Bank of India (RBI):
Formation– 1 April 1935
Governor– Shaktikanta Das
Headquarters– Mumbai, Maharashtra
Deputy Governors– 4 (Bibhu Prasad Kanungo, Mahesh Kumar Jain, Michael Debabrata Patra, and M Rajeswar Rao)

Sports

Odisha to host 2021 edition of Hero Indian Women’s League Football

The All India Football Federation (AIFF) has announced that the 2020-21 edition of Hero Indian Women’s League Football tournament will be hosted by Odisha state. The event was postponed in 2020 due to Covid-19 pandemic. Exact dates of the event are not yet finalised.

i.To regain the On-field sporting, Indian Senior team has undergone a 2-month long training camp starting from December 1, at Goa.
ii.3 International Matches were played against Serbia, Russia & Ukraine at Turkey.
About All India Football Federation (AIFF):
President– Praful Patel
Headquarters– New Delhi
Founded- 1937
About Indian Women’s Football Team:
Captain- Loitongbam Ashalata Devi

Wrestling: Vinesh Phogat wins Gold Medal at XXIV Outstanding Ukraining Wrestlers & Coaches Memorial Tournament

Indian Wrestler Vinesh Phogat won the Gold Medal in the Women’s 53 Kg Category of XXIV Outstanding Ukrainian Wrestlers and Coaches Memorial Tournament held at Kyiv (also known as Kiev), Ukraine. She defeated Vanesa Kaladzinskaya of Belarus in the Final. The Event was held from February 26-28, 2021 and was organized by United World Wrestling. Vinesh Phogat has already qualified for the 2020 Tokyo Summer Olympics (to be held in July, 2021) after winning Bronze at the 2019 World Championships. She is the only Indian Woman Wrestler to have qualified for the Tokyo Games.

Miscellaneous

ISRO Successfully Launches Amazonia-1 & 18 other Satellites from Sriharikota

Indian Space Research Organisation (ISRO) successfully launched 1 primary satellite ‘Amazonia-1’ & 18 co-passenger satellites from India (5) & USA (13) from the Satish Dhawan Space Centre SHAR (SDSC-SHAR), Sriharikota, Andhra Pradesh. The satellites were launched using Polar Satellite Launch Vehicle-C51 (PSLV-DL Variant). PSLV C-51/Amazonia-1 mission is the 1st Dedicated PSLV Commercial Mission for NewSpace India Limited (NSIL), which is the ISRO’s commercial arm (setup in 2019). This is ISRO’s 1st Launch of 2021. It has launched 14 Missions in 2021. With this India has totally launched 342 Foreign satellites from 34 countries.

Indian Economist Ligia Noronha appointed Assistant SG & Head of UNEP NY Office

UN Chief Antonio Guterres has appointed Indian economist Ligia Noronha as Assistant Secretary-General (SG) and Head of the New York(NY) Office of the United Nations Environment Programme (UNEP). She will succeed fellow Indian and development economist Satya Tripathi. Ligia Noronha has previously worked as UNEP’s Economy Division based in Nairobi, Kenya and has worked on several agendas like inclusive green economies, sustainable consumption & production as well as on trade & sustainable finance.

ACC Approved 3 Months Extension in the Reappointment of CBDT Chairman Pramod Chandra Mody

The Department of Personnel and Training, Government of India announced that the Appointments Committee of the Cabinet (ACC) has approved a 3 months extension in the reappointment of Pramod Chandra Mody as Chairman, Central Board of Direct Taxes (CBDT).
The 3-months extension is effective from 1st March 2021 to 31st May 2021 or until further notice.
About CBDT:
CBDT, a statutory authority that functions under the Central Board of Revenue Act, 1963.
Chairman– Pramod Chandra Mody
Headquarters– New Delhi

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