Daily Current Affairs 3 August for Banking/Insurance/SSC and other related exams.
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NATIONAL NEWS
Finance Minister Nirmala Sitharaman says that 28 % GST increased on casinos and online gaming
Finance Minister Nirmala Sitharaman said that 28 percent GST on casinos and online gaming will be levied on face value. Â
- Addressing media after the 51st GST Council Meeting in New Delhi, Ms Sitharaman said the 28 percent GST on online gaming and casinos is expected to be implemented from the 1st of October.
- She added that the Council has agreed to come back after six months of implementation to review the way in which this is getting implemented.
Parliament passes bill to allow private sector mining of atomic minerals
The Parliament passed the Mines and Minerals (Development and Regulation) Amendment Bill, 2023 which will allow private sector to mine key atomic minerals including lithium, and deep-seated minerals including gold, silver, copper and zinc. The bill was passed amid a walk-out by the Opposition members.
- The bill amends Mines and Minerals (Development and Regulation) Act, 1957. The original Act for offshore mining does not provide for auctions of minerals.Â
- The Offshore Areas Mineral (Development and Regulation) Act was enacted in 2002, however, no mining activity could be carried out from the sea bed owing to several pending litigations.
Assam CM Himanta Biswa Sarma launches ‘Amrit Brikshya Andolan’ app to enrich Assam’s beauty
Assam Chief Minister Himanta Biswa Sarma, launched the Department of Forest & Environment’s Amrit Brikshya Andolan web portal/mobile application and the Wood-based Industry (WBI).
- Registration web portal, along with the theme song for the Amrit Brikshya Andolan, an initiative aimed at planting a total of 1 crore (10 million) commercially-viable saplings across the State by individuals from various walks of life on coming September 17.
Tamil Nadu celebrates Cultural Festival Aadi Perukku
The Tamil Cultural community celebrates Aadi Perukku, also known as Pathinettam Perukku, as an auspicious festival to honor the monsoon season and the fertility of the soil.
- Aadi Perukku is celebrated on August 3rd, coinciding with the 18th day of the Tamil month of Aadi. Traditionally observed in late July or early August, this festivity centers around expressing gratitude to water bodies, as the entire month of Aadi is considered to herald the onset of the monsoon season.
BANKING & FINANCE
IRDAI appoints Liberty General Insurance as lead insurer for Delhi
Liberty General Insurance was appointed as the lead insurer for Delhi by the Insurance Regulatory and Development Authority of India (IRDAI).
- The appointment comes as a part of IRDAI’s State Insurance Plan, which aims to enhance financial awareness and drive insurance inclusion in collaboration with other insurers.
BUSINESS & ECONOMY
Govt debt stands at ₹155.6 Lakh Crore in March 2023
In March 2023, the Indian government’s debt stood at ₹155.6 lakh crore, accounting for 57.1% of the country’s GDP. This represents a reduction from 61.5% of GDP in 2020-21, indicating efforts to manage debt levels.Â
- The government has also implemented various schemes to promote capital expenditure, economic growth, and welfare at both macro and micro levels. Additionally, a roadmap has been set in place to achieve the ambitious goal of making India a $5 trillion economy, involving digital economy promotion, technology-enabled development, energy transition, and more.
Reliance jumps 16 places, now at number 88 on Fortune Global 500 list
Billionaire Mukesh Ambani’s Reliance Industries has maintained its highest ranking among Indian corporates in the latest Fortune Global 500 list, jumping 16 places to rank at number 88. Reliance was ranked at number 104 in the 2022 ranking and in the 2023 ranking it is placed at number 88, according to the publication.
- As many as eight Indian companies feature in this year’s Fortune Global 500 ranking. State-owned Indian Oil Corporation (IOC) jumped 48 places to rank at number 94.
- Life Insurance Corporation of India (LIC) slipped nine places to rank at 107. Oil and Natural Gas Corporation (number 158), Bharat Petroleum Corporation Ltd (number 233), and State Bank of India (number 235) were the other state-owned firms on the list.Tata Motors rose 33 places to rank at number 337 and Rajesh Exports jumped 84 spots to number 353.
Education ministry selects Oracle Cloud Infrastructure to modernise edtech platform DIKSHA
The ministry of education has selected Oracle Cloud Infrastructure to modernise the national education technology platform Digital Infrastructure for Knowledge Sharing (DIKSHA), the company. The migration will help make DIKSHA more accessible and lower its IT costs.Â
- Under the seven-year collaboration pact, OCI will help the ministry use DIKSHA to provide educational resources to millions of additional students, teachers and collaborators across the country.
SPORTS
Subroto Mukherjee Sports Education Society sign MoU with AIFF to promote football at the grassroots level
For the first time ever, Subroto Mukherjee Sports Education Society (SMSES) signed MoU with the All India Football Federation (AIFF) to promote football at the grassroots level.
- SMSES, which has been conducting the Subroto Cup International Football Tournament since 1960, will form a Subroto XI (eleven) team under Junior Boys (Under-17) from this edition onwards.Â
- An education workshop will also be undertaken by AIFF for coaches of final-round teams to update and educate them. Clubs from the Indian Super League, Indian Women’s League, and I-League will also pick up players from the Subroto Cup.Â
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