Daily Current Affairs August 31 & September 01

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Current affairs are the most dynamic yet scoring among all sections and need to be prepared from the right source. Here, we cafunsta team, providing  Daily GK Updates, Current Affairs Questions, and Monthly  current affairs pdf.

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August 31 & September 01 | Daily Current Affairs 2024

Obituary – Daily Current Affairs August 31 & September 01

1. What sectors was former Arunachal Pradesh minister Medi Ram Dodum known for contributing to during his tenure?
A) Agriculture and Education
B) Horticulture and Fisheries
C) Health and Sanitation
D) Infrastructure and Tourism
E) Law and Order
Answer: B) Horticulture and Fisheries

Event and Location:

• Event: Death of Former Arunachal Pradesh Minister Medi Ram Dodum
• Location: Itanagar, Arunachal Pradesh
• Date: September 1, 2024
• Cause of Death: Prolonged illness

Mandates and Objectives:

• Tenure as Minister:
  • Medi Ram Dodum served as a minister in Arunachal Pradesh and was a Congress leader.
  • He was particularly known for his contributions in:
    • Horticulture Sector
    • Fisheries Sector

Important Terms Explained:

• Horticulture:
  • The branch of agriculture concerned with the cultivation of fruits, vegetables, flowers, and ornamental plants. Medi Ram Dodum’s work in this sector likely involved the promotion and development of these areas within Arunachal Pradesh.
• Fisheries:
  • The sector dealing with the management and cultivation of fish and other aquatic organisms. Contributions by Dodum would have been focused on improving and sustaining the fisheries industry in the state.

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Banking and Finance – Daily Current Affairs August 31 & September 01

2. Which company has partnered with the Ministry of Skill Development to upskill 20,000 youths for the tourism industry?
A) Mastercard
B) PayPal
C) Visa
D) American Express
E) Google Pay
Answer: C) Visa

Event and Location:

• Event: Partnership between Visa and the Ministry of Skill Development to upskill 20,000 youths for the tourism industry
• Location: New Delhi, India
• Date: August 31, 2024

Mandates and Objectives:

• Upskilling Initiative:
  • Visa has partnered with the Ministry of Skill Development and Entrepreneurship, through the Tourism and Hospitality Skill Council (THSC), to upskill 20,000 Indian youths in tourism-relevant skills.
  • The program will focus on key roles within the domestic tourism industry, including:
    • Tour Guides
    • Customer Service Executives
    • Naturalists
    • Paragliding Tandem Pilots

Important Terms Explained:

• Tourism and Hospitality Skill Council (THSC):
  • An arm of the Ministry of Skill Development and Entrepreneurship, responsible for developing skills in the tourism and hospitality sector.
• Visa:
  • A leading American digital payments company that has partnered with the Indian government to support skill development in the tourism industry.

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Business and Economy – Daily Current Affairs August 31 & September 01

3. What was the percentage growth in GST collections in August 2024 compared to August 2023?
A) 4%
B) 6.5%
C) 9.2%
D) 10%
E) 12.1%
Answer: D) 10%

Event and Location:

• Event: GST Collection Data for August 2024
• Location: New Delhi, India
• Date: September 1, 2024

Mandates and Objectives:

• GST Collection Overview:
  • The GST revenue for August 2024 was ₹1.75 lakh crore, reflecting goods consumed and services availed in July.
  • This represents a 10% year-on-year (YoY) increase compared to August 2023, indicating strong economic activity.
  • However, the August collection is approximately 4% lower compared to July 2024, showing a sequential decline.
• Sectoral Insights:
  • Growth in Collection from Imports: 12.1%
  • Growth in Collection from Domestic Sources: 9.2%
  • Despite the increase, a higher refund rate impacted the net collection, which saw a growth of 6.5% and rose to ₹1.5 lakh crore.
• Regional Differences:
  • Single-digit growth in GST collections was observed in states like Gujarat, Andhra Pradesh, and Tamil Nadu.
  • In contrast, double-digit growth was recorded in states such as Maharashtra, Karnataka, Uttar Pradesh, Madhya Pradesh, and Haryana, indicating strong consumption patterns and effective tax compliance measures.
• Future Outlook:
  • Experts anticipate an increase in GST collections due to the upcoming festival season and ongoing efforts to curb fake Input Tax Credit (ITC) usage.

Important Terms Explained:

• Input Tax Credit (ITC):
  • A mechanism in the GST framework that allows businesses to reduce the tax they have paid on inputs (purchases) from the tax they owe on their outputs (sales). This helps prevent tax cascading.
• Inverted Duty Structure:
  • A situation where the tax rate on inputs is higher than the tax rate on outputs, leading to higher working capital requirements for businesses. The government provides refunds in such cases to alleviate this burden.

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Appointments – Daily Current Affairs August 31 & September 01

4. Who has been given the additional charge as Chairman of Indian Oil Corporation (IoCL)?
A) S M Vaidya
B) V Satish Kumar
C) Mukesh Kumar Surana
D) Hardeep Singh Puri
E) Shrikant Madhav Vaidya
Answer: B) V Satish Kumar

Event and Location:

• Event: Appointment of V Satish Kumar as Indian Oil Corporation Chairman
• Location: New Delhi, India
• Date: September 1, 2024

Mandates and Objectives:

• Appointment Details:
  • V Satish Kumar, currently serving as Director (Marketing), has been given the additional charge of Chairman of Indian Oil Corporation (IoCL).
  • This appointment follows the end of a one-year extension granted to the previous Chairman, S M Vaidya.
• Professional Background:
  • V Satish Kumar has been Director (Marketing) since October 2021.
  • He also held the additional charge of Director (Finance) for a year, during which time he managed challenges posed by the geopolitical tensions from the Ukraine-Russia conflict.
  • Kumar has a 35-year career with extensive experience in various regions and roles within IoCL.
  • He has served as the Non-Executive Chairman of Indian Oil Petronas and Indian Oil Mauritius.
• Education:
  • Kumar holds a Mechanical Engineering degree and a postgraduate degree in Management from the University of Ljubljana, Slovenia.

Important Terms Explained:

• Indian Oil Corporation (IoCL):
  • The largest commercial enterprise in India, involved in the refining, distribution, and marketing of petroleum products.
• Pradhan Mantri Ujjwala Yojana (PMUY):
  • A Government of India initiative aimed at providing LPG connections to women from Below Poverty Line (BPL) households.

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National Affairs – Daily Current Affairs August 31 & September 01

5. During his visit to San Francisco, what investment amount did Tamil Nadu CM M K Stalin secure for Chengalpattu district?
A) ₹100 crore
B) ₹200 crore
C) ₹300 crore
D) ₹400 crore
E) ₹500 crore
Answer: D) ₹400 crore

Event and Location:

• Event: Investment Secured by Tamil Nadu CM M K Stalin
• Location: San Francisco, United States of America
• Date: September 1, 2024

Mandates and Objectives:

• Investment Details:
  • Tamil Nadu Chief Minister M K Stalin secured a ₹400 crore investment from Ohmium during his visit to San Francisco.
  • The investment is aimed at setting up a project in Chengalpattu district of Tamil Nadu.
  • The initiative is expected to create 500 jobs in the region.
• Objective:
  • The investment is focused on nurturing the ecosystem for green energy production and contributing towards a sustainable future.

Important Terms Explained:

• Green Energy Production:
  • Refers to the generation of energy from renewable, non-polluting sources such as wind, solar, and hydroelectric power. The investment by Ohmium will likely support this initiative in Chengalpattu.
• Ohmium:
  • A company known for its work in the green energy sector, particularly in the development and deployment of clean hydrogen technology.

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6. What is the primary goal of the “Retired Sportsperson Empowerment Training” (RESET) Programme launched by Dr. Mansukh Mandaviya?
A) To provide financial aid to retired sportspersons
B) To create a pension scheme for retired athletes
C) To offer training and employment opportunities to retired sportspersons
D) To promote sports events for retired athletes
E) To establish a sports academy for youth and retired sportspersons
Answer: C) To offer training and employment opportunities to retired sportspersons

Event and Location:

• Event: Launch of the Retired Sportsperson Empowerment Training (RESET) Programme
• Location: New Delhi, India
• Date: August 29, 2024

Mandates and Objectives:

• RESET Programme:
  • Aims to empower retired sportspersons by enhancing their employability through specialized training and skills development.
  • Encourages retired athletes to share their rich experiences with the new generation, aiding in nurturing future champions and contributing to nation-building.
  • Offers hybrid training programs tailored for different educational levels, providing career development support, internships, and placement assistance.

Important Terms Explained:

• RESET Programme:
  • Focuses on the post-retirement phase of athletes, offering them opportunities to gain new skills, participate in internships, and explore entrepreneurial ventures.
  • Targets retired athletes aged 20-50 years who have participated in or won medals at international, national, or state-level sports events.
  • Programs are categorized based on educational qualifications (Class 12th and above, and Class 11th and below).

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7. What are the key focus themes of the 7th Rashtriya Poshan Maah 2024 launched by Union Minister Smt. Annpurna Devi?
A) Child education, Women empowerment, Technology in nutrition
B) Anaemia, Growth Monitoring, Complementary Feeding, Poshan Bhi Padhai Bhi
C) Malnutrition, Education, Governance, Plantation
D) Women’s Safety, Diet Diversity, Environmental Sustainability
E) Health Monitoring, Child Welfare, Governance, Plantation
Answer: B) Anaemia, Growth Monitoring, Complementary Feeding, Poshan Bhi Padhai Bhi

Event and Location:

• Event: Launch of the 7th Rashtriya Poshan Maah 2024
• Location: Mahatma Mandir, Gandhinagar, Gujarat
• Date: August 31, 2024

Mandates and Objectives:

• Mission Poshan 2.0:
  • Committed to combating malnutrition among children, adolescent girls, pregnant women, and lactating mothers across India.
  • Emphasizes a lifecycle approach to ensure better health and nutrition.
  • Focuses on four pillars: good governance, convergence, capacity building, community participation, and ownership.

Important Terms Explained:

• Poshan Bhi Padhai Bhi:
  • A theme within Poshan Maah focusing on integrating education with nutrition efforts.
• Ek Ped Maa Ke Naam:
  • A plantation drive aimed at promoting nutrition and environmental sustainability through the symbolic planting of fruit-bearing trees.

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8. What are the main sectors that will be impacted by the newly launched BioE3 policy in India?
A) Healthcare, Education, Infrastructure
B) Food, Energy, Health
C) Technology, Finance, Transportation
D) Agriculture, Tourism, Environment
E) Manufacturing, Retail, Export
Answer: B) Food, Energy, Health

Event and Location:

• Event: Formal release of the BioE3 policy
• Location: L Media Centre, India
• Date: August 31, 2024

Mandates and Objectives:

• BioE3 Policy:
  • Aims to foster high-performance biomanufacturing in alignment with national initiatives like the ‘Net Zero’ carbon economy and Mission LiFE (Lifestyle for Environment).
  • Emphasizes the PPP model (Public-Private Partnership) to incentivize industry participation and promote employment generation.
  • The policy will significantly impact various sectors, including food, energy, and health, driving India’s bioeconomy forward.

Important Terms Explained:

• BioE3 Policy:
  • A landmark policy focusing on accelerating the growth of India’s bioeconomy, fostering innovation, and enhancing biomanufacturing capabilities.
  • Identifies six thematic areas for development:
    • Bio-based chemicals and enzymes
    • Functional foods and Smart proteins
    • Precision biotherapeutics
    • Climate-resilient agriculture
    • Carbon capture and utilization
    • Futuristic marine and space research

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9. What was the primary reason for releasing the commemorative postage stamp by Prime Minister Shri Narendra Modi?
A) To celebrate the 75th anniversary of India’s independence
B) To mark 75 years of the Supreme Court of India
C) To honor the contributions of Indian freedom fighters
D) To commemorate the launch of a new legal reform
E) To celebrate the construction of the new Parliament building
Answer: B) To mark 75 years of the Supreme Court of India

Event and Location:

• Event: Release of a commemorative postage stamp on 75 Years of the Supreme Court of India
• Location: Bharat Mandapam, New Delhi
• Date: August 31, 2024

Mandates and Objectives:

• Commemorative Stamp Release:
  • Celebrates 75 years of the Supreme Court of India’s establishment.
  • Symbolizes the Supreme Court’s crucial role in upholding the rule of law, protecting citizens’ rights, and shaping the nation’s legal framework.
  • Acknowledges the enduring legacy of the Supreme Court in India’s judicial history.

Important Terms Explained:

• Supreme Court of India:
  • Established on January 28, 1950, it serves as the apex judicial body responsible for ensuring justice and upholding the Indian Constitution.
• Commemorative Postage Stamp:
  • A special stamp issued to honor significant events, anniversaries, or contributions in various fields, in this case, the 75th anniversary of the Supreme Court of India.

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10. Which three routes were connected by the Vande Bharat trains flagged off by Prime Minister Shri Narendra Modi?
A) Chennai—Nagercoil, Hyderabad—Bengaluru, Meerut—Lucknow
B) Madurai—Bengaluru, Chennai—Nagercoil, Lucknow—Varanasi
C) Chennai—Bengaluru, Meerut—Lucknow, Chennai—Nagercoil
D) Meerut—Lucknow, Madurai—Bengaluru, Chennai—Nagercoil
E) Madurai—Bengaluru, Lucknow—Varanasi, Chennai—Nagercoil
Answer: D) Meerut—Lucknow, Madurai—Bengaluru, Chennai—Nagercoil

Event and Location:

• Event: Flagging off three new Vande Bharat trains via video conferencing
• Location: Virtual event with trains serving Uttar Pradesh, Tamil Nadu, and Karnataka
• Date: August 31, 2024

Mandates and Objectives:

• Vande Bharat Trains:
  • Enhance connectivity between key cities: Meerut—Lucknow, Madurai—Bengaluru, and Chennai—Nagercoil.
  • These trains represent the modernization of Indian Railways, promoting the vision of Viksit Bharat and the PM Gati Shakti initiative.
  • Support the rapid development of Southern states as part of the broader national development strategy.

Important Terms Explained:

• Vande Bharat Express:
  • A state-of-the-art, high-speed train series developed under the ‘Make in India’ initiative, aiming to improve connectivity and passenger experience across the nation.
• PM Gati Shakti:
  • A national master plan for multi-modal connectivity aiming to achieve coordinated development of infrastructure in India.

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11. Which two companies were recently conferred with the Navratna status by the Government of India?
A) SJVN and NTPC
B) NHPC and NTPC
C) NHPC and SJVN
D) Power Grid and SJVN
E) BHEL and NHPC
Answer: C) NHPC and SJVN

Event and Location:

• Event: Conferment of Navratna status to SJVN and NHPC by the Government of India
• Location: India (via orders from the Department of Public Enterprises)

Mandates and Objectives:

• Navratna Status:
  • Awarded to select Central Public Sector Enterprises (CPSEs) that demonstrate exceptional financial performance and managerial efficiency.
  • Grants companies greater financial and operational autonomy, enabling them to undertake larger projects, form strategic partnerships, and contribute more significantly to national goals.
  • Allows companies to invest up to 30% of their net worth annually, form joint ventures, and set up overseas subsidiaries.

Important Terms Explained:

• Navratna Status:
  • A prestigious recognition given by the Government of India to Central Public Sector Enterprises (CPSEs) that have shown strong financial and managerial capabilities.
  • Confers enhanced autonomy, allowing these companies to make significant investments without financial ceilings and undertake larger projects, including joint ventures and overseas expansions.

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12. Which tech giant has partnered with the Tamil Nadu government to build the state’s AI ecosystem?
A) Microsoft
B) Apple
C) Google
D) Amazon
E) Meta
Answer: C) Google

Event and Location:

• Event: Partnership between Google and the Tamil Nadu government to build the state’s AI ecosystem
• Location: MoU signed at Google’s Mountain View office in California, USA
• Date: August 31, 2024

Mandates and Objectives:

• Tamil Nadu AI Labs:
  • A collaboration between Google and the Tamil Nadu government to establish Tamil Nadu AI Labs in Chennai.
  • The lab aims to skill two million youths in AI, leveraging the state’s flagship skilling scheme, Naan Mudhalvan.
  • The initiative is designed to position Tamil Nadu as a leader in AI technology and innovation, fostering a robust AI ecosystem in the state.

Important Terms Explained:

• Naan Mudhalvan:
  • Tamil Nadu’s flagship skilling scheme aimed at providing high-quality training to the state’s youth, enhancing their employability in various sectors.
• Google:
  • A leading global tech company known for its innovations in internet-related services and products, including AI technologies.

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13. What is the primary objective of the new unified regulatory framework introduced by IFSCA for listing securities in GIFT City?
A) To increase tax revenues
B) To promote foreign direct investment (FDI) in Indian real estate
C) To simplify access to capital markets for Indian and foreign issuers
D) To regulate cryptocurrency exchanges
E) To develop new infrastructure projects
Answer: C) To simplify access to capital markets for Indian and foreign issuers

Event and Location:

• Event: Introduction of a new unified regulatory framework by IFSCA for listing securities
• Location: GIFT City, Gujarat, India
• Date: August 31, 2024 (Framework became operational on August 30, 2024)

Mandates and Objectives:

• Unified Regulatory Framework:
  • Issued by the International Financial Services Centre Authority (IFSCA), the new framework is designed to simplify and streamline the process of accessing capital markets in GIFT City.
  • Provides Indian companies, particularly startups, with significant opportunities to access large pools of foreign capital.
  • Encourages greater flexibility and efficiency for both Indian and foreign issuers in listing their securities on stock exchanges within GIFT City.

Important Terms Explained:

• GIFT City (Gujarat International Finance Tec-City):
  • India’s first operational smart city and international financial services center, located in Gujarat, aimed at providing a world-class infrastructure for financial services.
• IFSCA (International Financial Services Centres Authority):
  • The regulatory authority established by the Government of India to oversee financial products, financial services, and financial institutions in international financial services centers like GIFT City.

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14. What new feature did Railway Minister Ashwini Vaishnaw unveil during his visit to Bengaluru?
A) Vande Bharat chair car
B) Vande Bharat sleeper coach
C) Vande Bharat Metro car
D) Vande Bharat freight train
E) Amrit Bharat Express
Answer: B) Vande Bharat sleeper coach

Event and Location:

• Event: Unveiling of the Prototype Version of Vande Bharat Sleeper Coach
• Location: Bengaluru, Karnataka
• Date: September 1, 2024

Mandates and Objectives:

• Prototype Unveiling:
  • Railway Minister Ashwini Vaishnaw unveiled the prototype version of the Vande Bharat sleeper coach at the BEML facility in Bengaluru.
  • The sleeper coach is designed for overnight journeys covering distances between 800 km to 1,200 km.
  • Key features include:
    • Oxygen level control inside the train.
    • Virus protection measures, inspired by lessons from the Covid-19 pandemic.
    • Fares are expected to be comparable to those of the Rajdhani Express.
• New Facility Initiatives:
  • Foundation Stone Laid:
    • For a new Vande Bharat manufacturing facility at Bharat Earth Movers Limited (BEML).
    • For a new Hangar facility spanning 9.2 acres near the BEML Bengaluru complex. This facility will focus on the export of standard and broad-gauge rolling stock, expanding BEML’s global reach.
• Production and Testing:
  • The sleeper coach will undergo rigorous trials and tests over the next ten days before rolling out on the track for further testing.
  • Full passenger operations are expected to begin within the next three months.
  • Series production of the sleeper coaches is expected to start in about one and a half years, with plans to roll out two to three trains per month.

Important Terms Explained:

• Vande Bharat Sleeper Coach:
  • A new configuration of the Vande Bharat trains, designed for overnight travel, featuring sleeper facilities and enhanced safety and comfort measures.
• BEML (Bharat Earth Movers Limited):
  • An Indian Public Sector Undertaking that manufactures a variety of heavy equipment, including rail coaches, for both domestic and international markets.

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