21 September, 2021
India to become world’s 3rd largest importer by 2050: Global Trade Outlook
According to a report ‘Global Trade Outlook’ by UK’s Department of International Trade, India is going to become the world’s 3rd largest importer by 2050 with a 5.9% share of global imports. Top two position were occupied by China and the United States (US).
India’s Position at various Stage: –
According to the Global Trade Outlook report, India will be expected to reach 4th position by 2030 with a 3.9% share. Currently, India holds 8th position on the list of largest importing countries with a 2.8% share. India is to be the 3rd largest in world economies by 2050 with a global GDP share of 6.8 percent. Now India holds 5th position in World Largest Economy with 3.3 percent share.
Highlights of report-:- As the growing purchasing power of Asia’s middle-class accounts for a rising share of global import demand, US’s and EU’s share of most import sectors is expected to decline by 2030. ‘E7 group’ of the seven largest emerging economies – China, India, Brazil, Russia, Indonesia, Mexico and Turkey – are expected to equal the G7’s share of global import demand by 2050. G7 comprises seven richest nations of the world – the US, UK, Canada, France, Germany, Japan, and Italy.
Note– G7’s share of global GDP was reduced to 46% in 2020 when compared to 65% in 2000.Meanwhile the E7’s share was raised from 11% to 28%.
Top 10 countries in imports
Rank 2019 2030 2050
1 United States China China
2 China United States United States
3 Germany Germany India
4 France India Germany
5 UK UK UK
6 Japan Japan France
7 Netherlands France Netherlands
8 India Netherlands Japan
9 Hong Kong Hong Kong Hong Kong
10 South Korea Canada Vietnam
15th India-Nepal Joint Military Training Exercise ‘Surya Kiran’ begins at Pithoragarh, Uttarakhand
i.The 14-day long 15th India-Nepal Joint Military Training exercise Surya Kiran commenced on September 20, 2021 in the Himalayan border town of Pithoragarh, Uttarakhand in India.
ii.The Indian Army is represented by Garhwal Regiment. More than 650 soldiers are participating from both sides.
iii.The exercise is a part of an initiative to develop inter-operability and sharing expertise between the two nations.
It is a home (along with Tibet) to Mount Everest, a peak of which is highest altitude above mean sea level at 29,029 feet [8,848 meters].
Currency– Nepalese rupee
IRCTC Launched India’s 1st Indigenous Luxury Cruise Liner
Indian Railway Catering and Tourism Corporation (IRCTC) started India’s first indigenous luxury cruise liner on 18th September 2021.
IRCTC has partnered with Cordelia Cruises, operated by Waterways Leisure Tourism Private Limited to promote and market India’s 1st luxury cruise. The cruise will sail to national and international destinations like Goa Diu, Lakshadweep, Kochi and Sri Lanka
Devusinh Chauhan Launched Commemorative Stamp on 515th Birth Anniversary of Rao Jaimal Rathore
Devusinh Chauhan, Union Minister of State (MoS), Ministry of Communications launched a commemorative postal stamp to honour Rao Jaimal Rathore on his 515th birth anniversary.
This commemorative stamp was launched in the run-up to the celebration of 75th Azadi ka Amrit Mohatsav in Srinagar, Jammu and Kashmir(J&K).
Rao Jaimal Rathore, a Rajput warrior general of Chittorgarh, fought against the Mughal army during its siege from 1567 to 1568.
Recommendations of 45th GST Council Meeting held at Lucknow, Uttar Pradesh
i.the 45th meeting of GST (Goods & Service Tax) Council was held at Lucknow, Uttar Pradesh, under the chairmanship of the Union Minister Nirmala Sitharaman, Ministry of Finance.
ii.The Council has made the various recommendations related to extension of existing concessional GST rates on certain COVID-19 treatment drugs, reduction of GST rates on various other medicines, revision and clarification of GST rates of various Goods and Services, several measures relating to GST Law & Procedures, etc.
iii.The existing concessional GST rates (till 30th September, 2021) on Covid-19 treatment drugs extended to December, 31 2021.
iv.From January 1, 2022, food delivery apps will collect and deposit 5% GST with the government, in place of restaurants, for deliveries made by them. This will not affect the end consumer.
v.There is an increase of 12/18% to 18% GST rate on Cartons, boxes, bags, packing containers of paper, and kinds of pens from 12/18% to 18%.
About GST (Goods & Service Tax):
It is an indirect tax which has replaced various indirect taxes in India such as the excise duty, VAT, services tax, among others. It has 3 components:
i.CGST(Central Goods and Services Tax) – tax collected by the Central Government on an intra-state sale.
ii.SGST(State Goods and Service Tax) – tax collected by the state government on an intra-state sale.
iii.IGST(Integrated Goods and Services Tax) – tax collected by the Central Government for an inter-state sale.
Kotak Mahindra Bank to buy 9.98% stake in KFin Technologies for Rs 310 Crore
Kotak Mahindra Bank (KMB) announced to acquire 9.98% stakes of KFin Technologies by buying over 1.67 crore equity shares for Rs 310 crores as a primary capital infusion to the company. The companies are planning to complete the acquisition by the end of October 2021.
i.KFin Technologies is a fintech company that provides various financial solutions including asset classes spanning mutual funds, alternative investment funds and pension funds
ii.Notably KFin had a turnover of Rs 481 crore in 2020-21.
About KFin Technologies:
Chairman – M.V. Nair
Established – 2017
Headquarter – Hyderabad, Telangana
About Kotak Mahindra Bank (KMB):
MD & CEO – Uday Kotak
Headquarters – Mumbai, Maharashtra
Tagline – Let’s make money simple
HDFC Bank partners Paytm to launch Co-Branded Credit Cards
HDFC Bank announced partnership with Paytm to launch a range of co-branded credit cards powered by Visa. The collaboration comes as a result of providing a range of offers like ‘EMIs’ and ‘Buy Now Pay Later’ options to increase the purchase potential of customers in this festival season.
i.Under this partnership, a range of Business credit cards with special features benefiting merchants from smaller cities will be unveiled, with instant & paperless approvals.
ii.This targets deeper penetration in India’s Tier-II & Tier-III markets, enabling faster adaptation to digital payment.
iii.The co-branded credit card is set to be released in October 2021, while the fuller version with multiple features is set to be launched in December 2021.
iv.Best-in-class rewards & cashbacks are set to be provided on these credit card purchases.
About HDFC Bank:
Establishment – 1994
Headquarters – Mumbai, Maharashtra
MD & CEO – Sashidhar Jagdishan
Tagline – We understand your world
Established – 2010
Headquarters – Noida, Uttar Pradesh
Founder & CEO – Vijay Shekhar Sharma
India’s Raja Rithvik becomes 70th Grandmaster
India’s R Raja Rithvik became chess Grandmaster after he crossed the ELO Rating of 2500. The 17-year-old achieved this GM title in Vezerkepzo Grandmaster Chess Tournament at Budapest, Hungary. He thus became the 70th Grandmaster from the country. A native of Warangal, Rithvik has been undergoing advanced coaching at RACE Chess Academy under reputed coach N.V.S. Rama Raju.
IPL 2021 Live: Kolkata Knight Riders (KKR) vs Royal Challengers Bangalore (RCB) live streaming online, where and how to watch IPL matches
IPL 2021: Kolkata Knight Riders (KKR), two-time champions, and Royal Challengers Bangalore (RCB), 2016 runners-up, will return to action in IPL 2021 at 7.30 PM on September 20, 2021, at the Zayed Cricket Stadium in Abu Dhabi.
The 14th season of the Indian Premier League has resumed from September 19, 2021. IPL was previously postponed on May 4, 2021, after multiple cases of COVID-19 were detected inside the IPL bubble amid the second wave of pandemic.
With Virat Kohli’s recent announcement of stepping down as the Captain of Royal Challengers Bangalore after IPL 2021, the focus will now be on his work on the field as he will turn up for his 200th IPL game.
Charanjit Singh Channi becomes the 16th Chief Minister of Punjab
The Member of Legislative Assembly(MLA) from Congress party Charanjit Singh Channi took the oath as the 16th Chief Minister (CM)of Punjab. He has succeeded the previous CM Captain Amarinder Singh.
i.Sukhjinder Randhawa and OP Sohni will serve as the two Deputy Chief Minister (Dy.CM) of Punjab.
ii.Amarinder Singh has submitted his resignation to the Governor of State, Banwarilal Purohit.
About Charanjit Singh Channi
i.Charanjit was born on March 1, 1963 Chamkaur Sahib, Punjab.
ii.He has served as the Technical Education and Industrial Training Employment Generation Minister under the previous government of Captain Amarinder Singh. A three time MLA elected from Rupnagar’s Chamkaur Sahib.
iii.He was elected as the leader of Opposition (LoO) in the 14th Punjab Vidhan Sabha.
iv.He has become the first Dalit Chief Minister of Punjab.
Wildlife Sanctuary- Takhni-Rehmapur Wildlife Sanctuary, Harike Wildlife Sanctuary, Bir Aishwan Wildlife Sanctuary
Heritage site- Kanjli (2002), Roopar(2002),Harike(1990
Festival- Lohri ,Hola Mohalla,Baisakhi
Former UK PM Gordon Brown become Health Financing Ambassador of WHO
The former British Prime Minister (PM) Gordon Brown has been appointed as Ambassador for Global Health Financing of World Health Organization (WHO). He was appointed by the WHO Director-General Tedros Adhanom Ghebreyesus.
The Role He will facilitate the accessibility and equitable distribution of COVID-19 vaccines at global level. In association with WHO, He will elevate and support the efforts to increase awareness about Global Health Financing specially from G20 and G7
About Gordon Brown
i.He served as the Prime Minister of the United Kingdom and Leader of the Labour Party from 2007 to 2010.
ii.He was the Chancellor of the Exchequer under PM Tony Blair’s government from 1997 t0 2007.
About World Health Organization (WHO)
Founded- 7 April 1948
Headquarters– Geneva, Switzerland
Director General-Tedros Adhanom Ghebreyesus
8 writers named for Sahitya Akademi Fellowship
The general council of National Academy of Letters aka Sahitya Akademi was met under the chairmanship of its president Dr Chandrashekhar Kambar where the highest honour, the Sahitya Akademi Fellowship was announced for 8 writers. The eminent writers selected for for the same areas follows:
i.Ruskin Bond– He has written over 300 short stories, essays and novels and more than 30 books for children besides several other works. He is the recipient of Sahitya Akademi Award, Sahitya Akademi’s Bal Sahitya Puraskar, Padma Shri and Padma Bhushan among other prestigious awards.
ii.Vinod Kumar Shukla (Hindi)- With 20 published books including poetry collections, novels, and short stories to his credit, he is a member of the General Council of Sahitya Akademi. He is also the recipient of Sahitya Akademi Award, Shikhar Samman of the Madhya Pradesh Government, among others.
iii.Sirshendu Mukhopadhyay (Bengali)- He is a novelist and short story writer. He is also a recipient of Sahitya Akademi Award, among others.
iv.Mundanat Leelavathy (Malayalam)- She is an eminent writer, literary critic, and educationist with more than 60 published books to her credit. She has won many prestigious awards and honours like the Padma Shri, Sahitya Akademi Award.
v.Dr. Bhalchandra Nemade (Marathi)- He has around 15 published books which have won him honours as the Padma Shri, Sahitya Akademi Award, Jnanpith Award, etc.
vi.Dr Tejwant Singh Gill (Punjabi)- He an eminent writer and scholar who has written 25 books and has translated works of Punjabi poetry, drama and fiction into English and Garcia Marquez’s “One Hundred Years of Solitude” into Punjabi.
vii.Swami Rambhadracharya (Sanskrit)- A spiritual leader and Sanskrit scholar, Swami Rambhadracharya is the recipient of a number of awards including five gold medals at the All India Sanskrit Conference, Sahitya Akademi Award etc.
viii.Indira Parthasarthy (Tamil)- A writer and scholar, he has more than 40 published books to his credit including plays, novels, collection of short stories and anthologies of novellas. He is also a recipient of the Sahitya Akademi Award, Padma Shri, etc.
Union Education and Skill Development Minister Dharmendra Pradhan presents Kaushalacharya Awards 2021
Union Education Minister and Skill Development Minister, Dharmendra Pradhan presented the Kaushalacharya Awards for 2021 virtually on the occasion of Vishwakarma Jayanti (17th September).
The Award was given to 41 skill trainers for their excellent contribution to the skill ecosystem.
i.The 41 trainers are belonged to various initiatives and training programmes of Skill India— Directorate General of Training (DGT), Apprenticeship, Pradhan Mantri Kaushal Vikas Yojana (PMKVY), Jan Shikshan Sansthan (JSS) and Entrepreneurship. Awards for vocational training under Industrial Training Institute (ITI) were also presented.
ii.Five candidates also got the award under the apprenticeship category while two candidates got award under the trainers category from DGT for non- engineer category.
About Kaushalacharya Awards
An initiative of the Ministry of Skill Development and Entrepreneurship (MSDE), the Kaushalacharya Awards is an annual celebration that focuses on honoring the skill trainers and the impact created by them on India’s youth.
Kaushalacharya Awards are launched in a bid to recognize the contribution made by skill trainers and to motivate more trainers to join the Skill India Mission.
About Pradhan Mantri Kaushal Vikas Yojana (PMKVY)
PMKVY is the flagship scheme of the Ministry of Skill Development &
Objective– To enable a large number of Indian youth to take up industry-relevant skill training that will help them in securing a better livelihood.
About Ministry of Education
Minister- Dharmendra Pradhan (Rajya Sabha, Madhya Pradesh)
Minister of State – Annpurna Devi (Constituency-Kodarma,Jharkhand), Subhas Sarkar (Constituency – Bankura, West Bengal), Rajkumar Ranjan Singh (Constituency – Inner Manipur, Manipur)