Daily Current Affairs 1st April, 2023

9 Daily Current Affairs 1 April 2023 for Banking/Insurance/SSC and other related exams.

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NATIONAL NEWS

Haryana becomes first state in India to have 100% electrified railway network
In March 2023, the railway network in the state of Haryana in India was completely electrified by Indian Railways, making it the first state in the country to achieve 100% electrification of its railway network.

• The existing Broad Gauge network of Haryana is 1,701 Route kilometre, which is now 100% electrified, resulting in saving on account of reduced line haul cost (about 2.5 times lower), heavier haulage capacity, increased sectional capacity, reduced operating & maintenance cost of electric loco, energy efficient and eco-friendly mode of transportation with reduced dependence on imported crude oil, saving of foreign exchange.

India unveils Foreign Trade Policy 2023
The government introduced the Foreign Trade Policy (FTP) 2023, which aims to increase the country’s exports to USD 2 trillion by 2030.

• The new policy is different from the previous 5-year FTP announcements as it has no specific end date and will be revised as needed, according to the Director General of Foreign Trade (DGFT), Santosh Sarangi.
• Commerce and Industry Minister Piyush Goyal presented FTP 2023, which will be implemented starting from April 1, 2023, and emphasizes a shift from incentive-based approaches to remission and entitlement-based measures.

New India Literacy Programme launched to cover target of 5 crore non-literates in age group of 15 years and above
The Government has launched a new Centrally Sponsored Scheme namely, New India Literacy Programme with financial outlay of over one thousand crore rupees for implementation during the financial year 2022-23 to 2026-27.

• The scheme aims to cover a target of five crore non-literates in the age group of 15 years and above. Minister of State for Education Annpurna Devi said this in a written reply to a question in Rajya Sabha.
• She said, the beneficiaries under the scheme are identified through door to door survey on Mobile App by the surveyors in the States and union Territories. The Minister said, the non-literate can also avail the benefit of the scheme through direct registration from any place through mobile app.

INTERNATIONAL NEWS

Finland joins NATO as 31st member
Finland formally joined NATO, its flag unfurling outside the military bloc’s Brussels headquarters, in a historic policy shift brought on by Russia’s invasion of Ukraine, drawing a threat from Moscow of “counter-measures”

• Finland’s NATO membership is a milestone for the alliance, which has grown from 12 founding members in 1949 to 31 today. It also reflects NATO’s adaptation and resilience in the face of evolving security challenges and threats in the 21st century.

BUSINESS & ECONOMY

India’s forex reserves rise $5.98 billion to $578.78 billion
According to the Reserve Bank of India (RBI), India’s foreign exchange reserves have continued to increase for the second consecutive week, reaching USD 578.778 billion in the week ending March 24. This indicates a rise of USD 5.978 billion in the week.

• In the previous week, the forex reserves had gone up by USD 12.8 billion, bringing the total forex reserves to USD 572.8 billion. The increase in reserves is mainly attributed to the rise in foreign currency assets, which surged by USD 6.48 billion to USD 536.99 billion in the week ended March 24.

Fiscal deficit till February hits 83 per cent of FY23 target at Rs 14.5 lakh crore
The Controller General of Accounts (CGA) released data indicating that the central government’s fiscal deficit reached 82.8% of the full-year target at the end of February.

• The fiscal deficit represents the gap between the government’s expenditure and revenue collection during the April-February period, and it amounted to Rs 14.53 lakh crore in actual terms.
• Comparing to the same period in the previous fiscal year, the fiscal deficit at the end of February this year was marginally higher, reaching 82.8% of the Revised Estimate (RE) for the current fiscal year.

APPOINTMENTS

Indian-origin engineer Amit Kshatriya to head Nasa’s newly-established ‘Moon to Mars’ programme
Amit Kshatriya, an Indian-American engineer with expertise in software and robotics, has been appointed as the inaugural head of NASA‘s newly-established Moon to Mars Programme. 

• This programme has been created to establish a long-term presence on the Moon, which is crucial for preparing for future missions to Mars. Kshatriya will serve as NASA’s first head of the office, with immediate effect.
• As the head of the office, Kshatriya will be responsible for planning and executing human missions to these celestial bodies for the betterment of humanity.

Rajib K Mishra takes over as Chairman and Managing Director of PTC India
Rajib Kumar Mishra, who is currently the acting chairman of PTC India or formerly Power Trading Corporation of India Limited, has been given a permanent role in the company, despite facing regulatory issues related to its subsidiary, PTC India Financial Services Ltd.

• He was also awarded the status of Visiting Scholar by the University of Texas, Austin, in 2008 for his post-doctoral research. Mishra completed his graduation in Electrical Engineering from NIT Durgapur and his post-graduation from NTNU, Norway under NORAD Fellowship.

AWARDS

European Commission grants GI tag for Himachal’s Kangra tea
The European Commission (EC) has granted protected geographical indication (PGI) for India’s unique Kangra tea, which is grown in Himachal Pradesh’s Kangra district.

• The EC notified granting PGI on March 22 and this will come into effect from April 11, 2023.
• This move comes at a time when the EC has been delaying granting a similar status to Basmati rice, for which India applied in 2018.

OBITUARIES

Novelist and short story writer Sarah Thomas passes away
Sarah Thomas, a renowned short story writer and novelist, passed away at the age of 89.

• She authored 17 novels and over 100 short stories, receiving several accolades such as the Kerala Sahitya Academy award. Her debut novel, “Jeevitham Enna Nathi,” marked the beginning of her writing career

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