Current Affairs 4th April

National Affairs

1. 5th Poshan Pakhwada Celebrated from March 20-April 3, 2023

The Service of Ladies and Youngster Advancement (MoWCD) commended the fifth Poshan

Pakhwada cross country from twentieth Walk to third April 2023 to bring issues to light about

the significance of sustenance and advance good dieting propensities through Jan Andolan

(Individuals’ Development) and Jan Bhagidari (Individuals’ Support).

 

Poshan Pakhwada 2023’s theme is “Nutrition for All: Working together for a healthy India

 

Background:

 

On March 8, 2018, Prime Minister (PM) Narendra Modi launched Poshan Abhiyaan to ensure people’s participation and elevate nutrition awareness.

 

It aims to enhance nutritional outcomes holistically. To achieve Kuposhan-mukt Bharat’s desired outcomes, behavioral change at the individual and community levels is crucial.

 

Poshan Pakhwada is celebrated for 15 days each year in March. In a similar vein, the entire nation observes Rashtriya Poshan Maah in September. 

 

Central issues:

 

Since 2023 is the International Year of Millets, the goal of Poshan Pakhwada was to make “Shree Anna” (millets) more widely known in order to combat malnutrition.

 

Ministry Node: 

 

During the Poshan Pakhwada, the primary Ministry in charge of coordinating activities will be the Ministry of Women and Child Development.

 

Poshan Pakhwada will be administered by the Department of Women and Child Development and the Department of Social Welfare in the State and Union Territory.

 

The promotion and popularization of Shree Anna and millets for nutritional well-being through the organization of drives to link millet-based foods with supplementary nutrition, home visits, diet consultation camps, and other activities were key themes of Poshan Pakhwada.

 

Swasth Balak Spardha’s Celebration: celebrated and honored the “Swasth Balak,” or healthy child, in accordance with specified criteria by encouraging healthy competition for healthy eating and well-being.

 

Make Saksham Anganwadis more popular: Saksham Anganwadis were promoted through awareness campaigns and improved infrastructure and facilities as centers for improved nutrition delivery and early childhood education and care.

2. CMIE: Unemployment Rate Rises to 3-Month high of 7.8% in March

India’s unemployment rate increased to 7.8% in March 2023, the highest level in three months, from 7.45% in February 2023, according to data from the Centre for Monitoring Indian Economy (CMIE). In January 2023, the unemployment rate was 7.14 percent. By March 2023, it was 7.47 percent in the rural areas and 8.51 percent in the urban areas.

Haryana had the most elevated joblessness rate among the states with 26.8%,

followed by Rajasthan (26.4%) and Jammu and Kashmir (J&K) (23.1%).

 

With a rate of 0.8 percent, Uttarakhand and Chhattisgarh have the lowest unemployment rates among states and Union Territories (UT), followed by Puducherry (1.5 percent) and Gujarat.

International Affairs

1. WB Report: ‘Striving for Clean Air: Air Pollution and Public Health in South Asia’

The World Bank’s (WB) report titled “Striving for Clean Air: Air Contamination

furthermore, General Wellbeing in South Asia,” convergences of fine particulate matter (PM)

like residue and little residue (PM 2.5) in some of South Asia’s most thickly populated and immature regions depend on multiple times higher than the World Wellbeing Association

(WHO) edge of 5 micrograms for each cubic meter (µg/mᶾ).

 

The report says that nine of the world’s top 10 polluted cities are in South Asia, including Bangladesh’s Dhaka.

 

In areas where PM2.5 concentrations exceed an annual mean of 35 g/m3, sixty percent of South Asians live.

 

Important Takeaways from the Report:

 

The report asserts that around 20% of all unexpected losses in Bangladesh are

brought about via air contamination.

 

It is estimated to annually result in 2 million premature deaths in South Asia and significant economic losses.

 

Children’s stunting and diminished cognitive development, respiratory infections, and chronic and debilitating diseases are just a few of the effects of such high levels of air pollution.

Banking and Finance

1. UBI becomes 1st Indian Bank to open SRVA Malaysia for Trade Settlement in rupee

 

On April 1, 2023, the Association Bank of India (UBI) opened its ‘Unique Rupee Vostro Record (SRVA)’ in Malaysia to work with exchanges among India and Malaysia in

the Indian rupee. This will be done through India International Bank of Malaysia (IIBM), the UBI’s Malaysian counterpart in Kuala Lumpur.

 

UBI is the first Indian bank to open a Vostro account in the Asian nation thanks to this.

 

The will enable merchants from India and Malaysia to invoice customers in Indian rupees.

2. IDBI Bank Revises FD Rates and Launches New Amrit Mahotsav FD Scheme

The private sector lender IDBI Bank has updated its interest rates for FDs under Rs. 2 crore, beginning on April 1, 2023.

 

As a result, IDBI bank has launched the “Amrit Mahotsav FD” program for its retail investors. This program offers returns of 7.65 percent to senior citizens and 7.15 percent to the general public.

 

FD Rates from IDBI Bank i. The bank currently guarantees interest rates ranging from 3.50 percent to 6.75 percent for the general public and 3.50 percent to 6.75 percent for senior citizens for deposits that mature within seven days to ten years.

 

The bank currently offers an interest rate of 3% for fixed deposits that mature in 7 to 30 days, while it offers an interest rate of 3.35 percent for deposits that mature in 31 to 45 days.

 

IDBI Bank presently offers 4.25% premium on stores held for 46 to 90 days and 4.75% premium on stores held for 91 to a half year.

 

The interest rate on deposits with a maturity date of one day to one year is 5.50 percent, while the interest rate on deposits with a maturity date of one year to two years (excluding 444 days) is 6.75 percent. 

 

Currently, the bank offers deposits with a maturity of three to ten years at a rate of 6.25 percent and FDs with a maturity of two to three years at a rate of 6.5 percent. 

 

IDBI Bank guarantees an interest rate of 6.25 percent for the general public and 6.75 percent for senior citizens for five-year tax-saving fixed deposits. 

 

The new interest rates will only apply to new deposits and renewals; while existing records will keep on acquiring revenue at the contracted rate. For rashly shut stores, the bank will demand a 1% punishment on the material rate. 

 

These closures include both partial and sweep-in withdrawals. Information Related to 

 

The Bank of India (BOI) also announced an increase in interest rates for FDs under Rs 2 crore on April 1, 2023.

 

The interest rate on “Shubh Arambh Deposits,” which are unique 501-day term deposits for deposits of less than Rs, was increased by the bank. 2 crore.

 

For a limited time, IDBI Bank is offering a rate of 7.15 percent for regular customers, 7.65 percent for senior citizens, and 7.8 percent for super senior citizens on Shubh Arambh Deposits.

Economy and Business

1. India’s Tech SMEs Revenue to Reach $30-$40 bn by FY30: Nasscom- ProHance report

The Nasscom and ProHance jointly released a report titled “India’s Tech SMEs: The digital technology SME (small and medium-sized enterprises) revenue share was anticipated to reach $30-$40 billion in FY30 (financial year 2029-2030).

 

It was also anticipated that the tech SMEs, which account for between 7 and 9 percent of the overall technology industry, would contribute between $15 and 20 billion to revenues in FY23.

 

By the end of FY30, it was anticipated that the technology SMEs, which provide AI, advanced analytics, and cloud services, would account for 35-40% of all tech revenue.

 

The report is the first of its kind to examine the tech SME sector of the technology industry as a whole.

 

Note that Indian Tech SMEs are Micro, Small, and Medium-Sized Enterprises (MSMEs) with headquarters in India that provide technology software, hardware, and services to Indian and global businesses. The Report’s Key Findings:

 

Through FY19, tech SMEs in India have grown at a CAGR (Compound Annual Growth Rate) of more than 10%, with roughly 90% belonging to the micro and small categories. These SMEs contribute between 7% and 9% to the technology industry.

 

In FY23, the tech SME share of the Indian technology industry was Rs 19.6 lakh crore, or $245 billion.

 

With a focus on cloud migration, software as a service (SaaS), digital engineering, advanced analytics, and AI-based solutions, digital SMEs have expanded four times since FY19.

 

Digital revenues are expected to rise by 35-40% as the Indian tech industry doubles to $500 billion by the end of the fiscal year (FY30). 

 

With a particular emphasis on niche cloud, AI, IoT (Internet of Things), and SaaS products, North America accounts for 50-55% of the revenue of Indian technology SMEs. In FY23, Europe comes in second with 19-20%, followed by the domestic market with 17-18%. Note that Nasscom released the report during the Nasscom SME Confluence 2023.

Science and Technology

1. ISRO successfully conducts Reusable Launch Vehicle Autonomous Landing Mission in Karnataka

At the Aeronautical Test Range in Chitradurga, Karnataka, the Reusable Launch Vehicle Autonomous Landing Mission (RLV LEX) was carried out successfully by the Indian Space Research Organization (ISRO).

 

The test included a winged body lifted to an elevation of 4.5 km by an Indian Air

Force (IAF) Chinook helicopter, in this manner liberated to execute a free fast (350 kmph) arriving on a runway, and accomplished the arrival

boundaries.

 

This is the first time a helicopter has released a winged body in midair to perform an autonomous landing.

 

Note: The test has been led by the IAF, Community for Military Airworthiness and Confirmation (CEMILAC), Aeronautical Improvement Foundation (ADE), and Flying Conveyance Innovative work Foundation (ADRDE) Central issues:

 

RLV LEX is basically a space plane with a low lift-to-drag proportion requiring an

approach at high coast points that required an arrival at high speeds of 350

kmph.

 

LEX made use of a number of indigenous systems. Instrumentation and sensor systems, localized navigation systems based on pseudolite systems, and so forth. were created by

ISRO.

 

Using a Digital Elevation Model (DEM) of the landing site, the Ka-band Radar Altimeter provided precise altitude data.

2. India become 1st Country in the World to Develop Own Model to Estimated TB Cases

India launches its country-level mathematical model to estimate the prevalence of TB cases in the country, making it the first nation in the world to do so.

 

Existing Instrument: The World Health Organization’s (WHO) Global TB Report provides an in-depth and up-to-date assessment of the TB pandemic as well as developments in the disease’s prevention, diagnosis, and treatment at the global, regional, and national levels.

 

The data from the Indian mathematical model indicate that while the global reduction in TB cases was approximately 11%, the reduction in TB cases in India was only 18%.

 

The New Model’s Estimates of India’s TB:

 

India’s TB incidence rate is 196 per 100,000 people, rather than the WHO’s estimate of 210.

 

The WHO estimated 4.94 million deaths from the communicable disease in 2021, whereas the new India model now estimates 3.20 million.

 

In 2022, the Indian mathematical model predicted that India’s TB incidence rate (per 10,000 people) would be 196, as opposed to the WHO’s estimate of 210.