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Current Affairs Daily Digest – March 14 & 15 2024
1. India Remains the World’s Largest Arms Importer: SIPRI Report
The Stockholm International Peace Research Institute (SIPRI) reported on Monday, March 11, 2024, that India remains the world’s greatest armaments importer, with Russia being its main supplier despite a diminishing share.
Indian Arms Imports
India imported 9.8% of world weaponry in 2019–2023. Despite government efforts to enhance domestic defense manufacturing and procurement, arms imports rose 4.7 percent between 2014-18 and 2019-23.
Indian Import Trends
Russia’s share of Indian weaponry shipments is declining. Russia supplied 36% of India’s weaponry imports during the study period, the lowest share since 1960-64. As India buys military equipment from France and the US and Russia focuses on domestic needs throughout the Ukraine war, this trend is projected to continue.
India imported 33% of its armaments from France and 13% from the US. India’s recent purchase of 31 armed MQ-9B Sky Guardian drones from the US for $3.9 billion and 26 Rafale-M jets from France for $6 billion may enhance their proportion in the next five years.
2. Max Verstappen Triumphs at Saudi Arabian Grand Prix
Max Verstappen of Red Bull won the Saudi Arabian Grand Prix after starting in first place. In the 2024 Formula One season, it was Red Bull’s second consecutive one-two finish.
Team Red Bull’s Max Verstappen
- Red Bull’s Sergio Perez
- Luc Benetton (Ferrari)
The Invincible Verstappen For the first time in his career, Verstappen won the first two races of the season. He has now won nine races in a row, including last year’s victory. With this podium finish, Verstappen also reached 100 in his career.
An Up-and-Coming Star at Ferrari Oliver Bearman, an 18-year-old from the United Kingdom, had a fantastic start for Ferrari, coming in seventh. After what Leclerc called his “hugely impressive” performance, he was named Driver of the Day.
3. Parshottam Rupala released a Book on Sagar Parikrama at Rajkot, Gujarat
In Rajkot, Gujarat, Shri Parshottam Rupala, the Union Minister for Fisheries, Animal Husbandry, and Dairy, released a book and film called “Sagar Parikrama” at the Engineering Association. Dignitaries like Dr. Sanjeev Kumar Balyan, who is the Union Minister for State of Fisheries, Animal Husbandry, and Dairy, and Dr. L. Murugan were present at the ceremony.
The Sagar Parikrama Yatra Journal
In an effort to provide a comprehensive account of the Sagar Parikrama Yatra, this book will cover all twelve stages of the pilgrimage and their associated events, including the maritime route, cultural and geographical excursions, and significant impacts.
Included in its seven chapters are the origins of Sagar Parikrama, a synopsis of the trip around the East and West coasts, and important conclusions.
The cultural, religious, and traditional fishing legacy of India’s coastal fishermen, as well as the difficulties they confront, are explored in this book.
In addition, a film documentary documents the entire Sagar Parikrama, including the events, activities, and interactions between the Union Minister and recipients, highlighting the difficulties that were encountered.
4. Admiral Laxminarayan Ramdas, Former Indian Navy Chief, Dies At 90
At the age of 90, Admiral Laxminarayan Ramdas quietly passed away on March 15 morning at the Military Hospital, Secunderabad, Telangana. Ramdas had served as Chief of Naval Staff of the Indian Navy from 1990 to 1993. A legacy of bravery, honesty, and unfaltering dedication to values has been left behind by the Indian armed services, and his death signifies the end of an era.
Life Before and amid Work
- Matunga, Bombay, was the place of birth on September 5, 1933.
- In 1949, motivated by a sense of duty and patriotism, enrolled in the Armed Forces Academy in Dehradun.
- Sept. 1953: Appointed as a communications expert to the Indian Navy.
5. Reliance to buy 13% of Paramount’s stake in Viacom18 for Rs 4,286 crore
The biggest private firm in India, Reliance Industries, has stated that it has paid Rs 4,286 crore ($517 million) to acquire Viacom 18 Media from Paramount Global, which is equivalent to 13.01% of the company’s total shares. This major deal further establishes Reliance as a dominant player in the media industry and highlights the company’s strategic positioning.
Specifics of the Agreement:
A legally binding agreement has been struck into by Reliance Industries to acquire the interest in Viacom 18 Media held by Paramount Global’s subsidiaries.
Reliance has made a large investment with the transaction, which amounts to Rs 4,286 crore ($517 million).
6. Celebrating Pi Day 2024 is observed on March 14
In Mathematics, Statistics, and Physics, the symbol pi (π) holds significant value. It stands for the ratio of a circle’s diameter to its circumference. Around 3.14 is the constant value of this ratio.
Pi and Its Importance
Many calculations, both in and out of the scientific community, rely on pi. It is used in a variety of computations, from simple geometry to complicated physics equations, and is one of the most famous mathematical constants.
A Tribute to Pi Day
The constant value of pi and its importance in simplifying computations across numerous fields are commemorated every year on March 14 with Pi Day. Thursday, March 14, 2024 is the date of the unique event this year.
7. IIT Delhi And Israel Aerospace Industries Join Forces For Applied Research
A major step forward in applied research has been announced by IIT Delhi—a partnership with Israel Aerospace Industries (IAI). In a formal release from IIT Delhi, the cooperation is highlighted as an example of IAI’s corporate social responsibility (CSR) efforts in India. The two organizations will work together on projects, training programs, and research consulting to improve technology and innovation.
A Shared Dedication to Progress
A shared dedication to using research to drive innovation and progress in technology is at the heart of the relationship.
In keeping with IIT Delhi’s commitment to ground-breaking research, both organizations seek to influence India’s technology scene.
8. Electoral Bonds: BJP Tops the List with Highest Receipt
Anyone or any organization can contribute to political parties anonymously through the 2018 Electoral Bonds program. A new report by the Election Commission of India (ECI) details the sums received by different parties via this channel, shedding light on the money trail in Indian politics.
A Huge Lead for the BJP
The Bharatiya Janata Party (BJP) cashed in electoral bonds totaling an astounding ₹6,060.5 crore between April 12, 2019, and January 24, 2024, as revealed by the ECI’s data. By a wide extent, the BJP was the biggest beneficiary of these funds, as they constituted an astounding 47.5% of the total electoral bonds cashed during this time.
Extraordinary Recipients
In second and third place, respectively, were the All India Trinamool Congress (AITC) with ₹1,609.5 crore (12.6% of the total) and the Indian National Congress (INC) with ₹1,421.9 crore (11.1%), after the BJP.
Significant sums were also distributed to the Bharat Rashtra Samithi (BRS), Biju Janata Dal (BJD), and Dravida Munnetra Kazhagam (DMK), with ₹1,214.7 crore (9.51%), ₹775.5 crore (6.07%), and ₹639 crore (5%), equally.
9. Government of India and ADB Sign $23 Million Loan Agreement to Strengthen Fintech Ecosystem in India
A $23 million loan arrangement has been finalized by the Union Government of India and the Asian Development Bank (ADB) to strengthen the fintech landscape within the country. Improved access to high-quality fintech education and innovation is a primary goal of the partnership, with a focus on GIFT-City in Gujarat.
Terms of the Loan
At the Gujarat International Finance Tec-City, the $23 million loan arrangement was formally sealed by the Central Government of India and the Asian Development Bank (ADB). Strengthening India’s fintech ecosystem is the main goal of this agreement.
10. World Consumer Rights Day 2024 is observed on March 15
Everyone over the world celebrates World Consumer Rights Day every year on March 15. The purpose of this day is to bring attention to the consumer’s rights and duties when shopping. It stresses the significance of company accountability, fair and ethical practices, and consumer rights protection.
World Consumer Rights Day 2024 Theme
“Fair and responsible AI for consumers” is the theme that Consumers International has selected for World Consumer Rights Day 2024. This theme emphasizes the importance of safeguarding consumer rights in an era where AI continues to rapidly advance.
The potential for discrimination, false information, and privacy invasions to emerge from AI-driven platforms are some of the issues addressed by the theme. Its stated goal is to stop biased AI systems from spreading misinformation.
11. India Jumps 14 Ranks on the UNDP Gender Inequality Index
The UNDP Human Development Report 2023–2024 states that India has achieved remarkable strides in eliminating gender disparities. The country’s standing on the Gender Inequality Index (GII) 2022 is 14 spots higher than it was in the previous year.
India received a score of 0.437 in the GII 2022, placing it 108th out of 193 nations. Compared to 2021, when the country ranked 122 out of 191 with a score of 0.490, this is a considerable improvement. India has made great strides towards gender equality over the last decade, as shown by its steadily improving rank in the GII.
12. Gyanesh Kumar, Sukhbir Sandhu Appointed as New Election Commissioners
Appointed as new Election Commissioners are Gyanesh Kumar and Sukhbir Singh Sandhu by a three-member body headed by Prime Minister Narendra Modi. Congress leader Adhir Ranjan Chowdhury informed the media of this conclusion following the committee’s meeting on March 14, 2024.
Positions to be Filled
The nominations follow Election Commissioner Arun Goel’s departure, which occurred days before the forthcoming Lok Sabha elections. Rajiv Kumar was the sole remaining member of the three-person Election Commission panel following Anup Pandey’s retirement in February and Goel’s resignation.
