Daily Current Affairs December 25

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December 25 | Daily Current Affairs 2024

Important Days – Daily Current Affairs December 25

1. When is Good Governance Day observed each year?
A) January 26
B) December 25
C) August 15
D) October 2
E) November 14
Answer: B) December 25

Event and Location:

• Event: Good Governance Day observed to honor Shri Atal Bihari Vajpayee.
• Date: December 25, celebrated annually.
• Location: Nationwide.

Mandates and Objectives:

• Good Governance Day:
  • Commemorates Shri Atal Bihari Vajpayee’s birth anniversary.
  • Highlights principles of governance focusing on transparency, accountability, and inclusivity.
• Good Governance Week (Sushasan Saptah):
  • Celebrated from December 19 to 25 annually.
  • Aims to promote good governance practices from district to village levels.
• Jal Jeevan Mission as a Highlight:
  • Launched in 2019 by Prime Minister Narendra Modi.
  • Objective: Ensure tap water access for all rural households.
  • Progress: Increased tap water coverage from 17% in 2019 to 15.38 crore households (2024).
  • Promotes equity and inclusiveness by prioritizing underserved areas like tribal and marginalized communities.
• Principles of Good Governance:
  • Derived from UN Framework emphasizing eight key aspects:
    • Participation, transparency, accountability, equity, responsiveness, inclusiveness, effectiveness, and adherence to the rule of law.

Important Terms Explained:

• Good Governance Day:
  • Observed on December 25, honors the legacy of Shri Atal Bihari Vajpayee.
  • Focuses on improving governance for every citizen’s welfare.
• Jal Jeevan Mission:
  • Ministry: Jal Shakti Ministry.
  • Focuses on providing clean and accessible tap water to rural households.
  • Ensures real-time progress tracking, promoting transparency and accountability.
• Rajadharma:
  • Ancient Indian principle of ethical governance, emphasizing justice, fairness, and welfare.

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Obituary – Daily Current Affairs December 25

2. Who was M.T. Vasudevan Nair, and what was he primarily known for?
A) An acclaimed scientist and engineer
B) A prominent politician and social reformer
C) A celebrated Malayalam writer and scriptwriter
D) A noted classical dancer
E) A famous singer and music composer
Answer: C) A celebrated Malayalam writer and scriptwriter

Event and Location:

• Passing of M.T. Vasudevan Nair on December 25, 2024, at Kozhikode, Kerala.

Mandates and Objectives:

• M.T. Vasudevan Nair’s literary works and screenplays revolutionized Malayalam literature and cinema.
• He is remembered for depicting Kerala’s culture and human emotions with unmatched eloquence.

Important Contributions:

• Authored several acclaimed novels and short stories, including the celebrated Asuravithu.
• Wrote landmark screenplays that set a high standard for Malayalam cinema.
• Directed the film Nirmalyam, which won the National Award for Best Film in 1974.

Important Terms Explained:

• Jnanpith Award (1995):
  • India’s highest literary honor, recognizing extraordinary contributions to Indian literature.
• Asuravithu:
  • A novel that explores themes of social change and human resilience, considered one of the best in Malayalam literature.
• Nirmalyam (1974):
  • M.T. Vasudevan Nair’s debut film as a director, winning the National Award for Best Feature Film.

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Business and Economy – Daily Current Affairs December 25

3. What is the revised minimum annual dividend benchmark for CPSEs as per the new guidelines?
A) 20% of Profit After Tax (PAT) or 2% of net worth
B) 25% of Profit After Tax (PAT) or 5% of net worth
C) 30% of Profit After Tax (PAT) or 4% of net worth
D) 40% of Profit After Tax (PAT) or 6% of net worth
E) 50% of Profit After Tax (PAT) or 10% of net worth
Answer: C) 30% of Profit After Tax (PAT) or 4% of net worth

Event and Location:

• Event: Dividend collections from CPSEs expected to exceed budget estimates for FY25.
• Date: December 25, 2024.
• Location: New Delhi, India.

Mandates and Objectives:

• Central Public Sector Enterprises (CPSEs):
  • Dividends collected from CPSEs have reached ₹48,000 crore, accounting for over 85% of the budgeted estimate of ₹56,000 crore.
  • Estimated to exceed the previous fiscal’s dividend collection of ₹63,000 crore.
• Top Contributors:
  • CPSEs from the oil, coal, and power sectors are leading dividend payouts due to strong performance:
    • Stable petrol and diesel prices.
    • Removal of windfall levies on petroleum exports.
    • Favorable weather benefiting power and coal companies.
• Revised Dividend Policy (2024):
  • Minimum annual dividend:
    • 30% of Profit After Tax (PAT) or
    • 4% of net worth, whichever is higher.
  • Financial CPSEs, including NBFCs, must follow the same benchmark.
  • CPSEs encouraged to pay higher dividends considering factors like profitability, capex needs, and reserves.

Key Insights:

• In FY24, 212 out of 272 operating CPSEs reported a combined net profit of ₹3.43 lakh crore, a 48% increase from the previous fiscal.
• Dividends declared by CPSEs increased by over 16%, reaching ₹1.23 lakh crore in FY24.

Important Terms Explained:

• Central Public Sector Enterprises (CPSEs):
  • Government-owned corporations under the Ministry of Finance.
  • Play a critical role in sectors like energy, coal, and power.
• Dividend Policy for CPSEs (2024):
  • Sets a minimum annual dividend benchmark for CPSEs to ensure consistent government revenue.
  • Focuses on maximizing returns while balancing capex requirements and reserves.
• Windfall Levies:
  • Temporary taxes imposed on unexpected or excessive profits, particularly in the energy sector.

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4. What does the EY report highlight as crucial for India’s sustained GDP growth of 6.5%?
A) Expanding exports in agricultural commodities
B) Increasing capital expenditure by the government and private sector
C) Reducing domestic demand and focusing on global trade
D) Implementing strict austerity measures to limit spending
E) Relying solely on foreign direct investments
Answer: B) Increasing capital expenditure by the government and private sector

Event and Location:

• Event: EY report projects India’s GDP growth at 6.5% for FY25 and FY26.
• Date: December 25, 2024.
• Location: New Delhi, India.

Mandates and Objectives:

• Current Economic Situation:
  • India’s GDP growth slowed to a seven-quarter low of 5.4% in Q2 of FY25.
  • Key factors: Decline in private consumption expenditure and gross fixed capital formation.
• Medium-Term Growth Prospects:
  • India’s growth can sustain at 6.5% annually with increased government and private capital investments.
  • Focus on domestic demand and service exports due to uncertain global trade conditions.
• Infrastructure Development:
  • EY recommends revisiting the 2019 National Infrastructure Pipeline (NIP) with updated targets for priority sectors like roads, railways, and renewable energy.
  • Suggests allocating 6% of GDP annually for infrastructure growth over five years.
• Fiscal Reforms:
  • Updates to the FRBM Act to ensure fiscal responsibility while enabling investments.
  • Targets include:
    • Total combined government debt not exceeding 60% of nominal GDP.
    • Eliminating revenue deficits to boost national savings.
    • Fiscal deficit range of 1%–5% of GDP with flexibility for crises.

Recommendations:

• Aim for a combined government investment of 38.5% of GDP by including contributions from:
  • Public sector
  • Private sector
  • Foreign investments

Important Terms Explained:

• Fiscal Responsibility and Budget Management (FRBM) Act:
  • A law aiming to ensure fiscal discipline and reduce the fiscal deficit.
  • Revised recommendations focus on eliminating revenue deficits and setting clear fiscal deficit targets.
• National Infrastructure Pipeline (NIP):
  • Launched in 2019 to attract investments in key infrastructure sectors.
  • Focuses on roads, railways, smart cities, and renewable energy development.
• Gross Fixed Capital Formation:
  • A measure of investment in physical assets like machinery, buildings, and infrastructure.
  • Decline in this indicates slowing private and public investment.

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Appointments – Daily Current Affairs December 25

5. Who has been appointed as the new Revenue Secretary of India?
A) Sanjay Malhotra
B) Ajay Seth
C) Arunish Chawla
D) Amit Agrawal
E) Neelam Shami Rao
Answer: C) Arunish Chawla

Event and Location:

• Event: Arunish Chawla appointed as the new Revenue Secretary.
• Date: December 25, 2024.
• Location: New Delhi, India.

Mandates and Objectives:

• Arunish Chawla’s Appointment:
  • Succeeds Sanjay Malhotra, who recently became the RBI Governor.
  • Chawla will oversee the Revenue Department, including finalizing revenue numbers for the upcoming Union Budget 2024-25.
  • Will also supervise the Income Tax Act review and serve as ex-officio Secretary to the GST Council.
• Professional Background:
  • Cadre: 1992 IAS officer from Bihar.
  • Education: PhD and postgraduate degree in Economics from the London School of Economics.
  • Previous Roles:
    • Joint Secretary in the Department of Expenditure.
    • Minister (Economics) at the Indian Embassy in the US.
    • Senior Economist at the IMF.
    • Pharmaceutical Secretary prior to the current appointment.

Other Appointments:

• Neelam Shami Rao: Appointed as the Textiles Secretary, replacing Rachna Shah.
• Amit Agrawal: Replaces Chawla as Pharmaceutical Secretary.
• Vineet Joshi: Appointed as the Higher Education Secretary.
• Neeraj Shekhar: Appointed as Director General, National Productivity Council.

Important Terms Explained:

• Revenue Secretary:
  • A top official in the Ministry of Finance responsible for overseeing the revenue collection system, including direct and indirect taxes.
  • Plays a crucial role in preparing the Union Budget and managing fiscal policy.
• GST Council:
  • A constitutional body for decision-making on GST matters, where the Revenue Secretary acts as an ex-officio Secretary.
• Union Budget:
  • The annual financial statement presented by the Government of India detailing its revenue and expenditure for the fiscal year.

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6. Who has been appointed as the new Chairman of Pharmexcil?
A) Neelam Shami Rao
B) Amit Agrawal
C) Arunish Chawla
D) Namit Joshi
E) Vineet Joshi
Answer: D) Namit Joshi

Event and Location:

• Event: Namit Joshi assumed charge as the Chairman of Pharmexcil.
• Date: December 25, 2024.
• Location: Hyderabad, Telangana.

Mandates and Objectives:

• Pharmexcil:
  • Pharmaceuticals Export Promotion Council of India (Pharmexcil): An apex body under the Ministry of Commerce and Industry, focused on promoting the export of pharmaceuticals and healthcare products.
  • Namit Joshi elevated after serving two years as Vice Chairman.
• Namit Joshi’s Profile:
  • Current Role: Commercial Director of Centrient Pharmaceuticals, managing Asia and Africa markets.
  • Education:
    • Master’s in Organic Chemistry from Rohilkhand University, Bareilly.
    • Post Graduate Diploma in International Business Strategy from the Indian Institute of Foreign Trade (IIFT).
  • Experience: Over 30 years in pharmaceuticals, diagnostics, biologics, retail pharmacies, and healthcare media advocacy.

Important Terms Explained:

• Pharmexcil:
  • Full Form: Pharmaceuticals Export Promotion Council of India.
  • Role: Promotes the export of pharmaceuticals, diagnostics, biologics, and other healthcare products.
  • Works under the Ministry of Commerce and Industry, Government of India.
• Centrient Pharmaceuticals:
  • A global pharmaceutical company backed by Bain Capital.
  • Focuses on manufacturing and exporting life-saving medicines across Asia and Africa.

Static GK Information:

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Defence – Daily Current Affairs December 25

7. What is the primary focus of India and Saudi Arabia’s defence collaboration?
A) Establishing training programs for armed forces
B) Promoting joint ventures in shipbuilding and emerging technologies
C) Building nuclear technology-based defence systems
D) Developing tourism-related security systems
E) Creating a new missile defence system
Answer: B) Promoting joint ventures in shipbuilding and emerging technologies

Event and Location:

• Event: India and Saudi Arabia exploring joint ventures in the defence sector.
• Date: December 25, 2024.
• Location: New Delhi, India.

Mandates and Objectives:

• Defence Collaboration:
  • Deepening ties in critical areas such as shipbuilding, electronics, Artificial Intelligence (AI), and cybersecurity.
  • Exploring investment opportunities in the Indian defence sector under Saudi’s Vision 2030 and India’s Make in India initiative.
• Vision 2030 and Defence Spending:
  • Saudi Arabia aims to localize 50% of its defence spending by 2030.
  • India offers robust infrastructure and expertise in defence manufacturing and technology.

Key Agreement:

• In early 2024, Saudi Arabia signed a $250 million ammunition contract with Munitions India Limited, a Defence Public Sector Undertaking (DPSU).

Important Terms Explained:

• Vision 2030 (Saudi Arabia):
  • A strategic plan to diversify Saudi Arabia’s economy and reduce dependency on oil.
  • Includes the goal of localizing half of its defence spending by 2030.
• Make in India (India):
  • An initiative launched in 2014 to promote domestic manufacturing and self-reliance in key sectors, including defence.
• Munitions India Limited:
  • A Defence Public Sector Undertaking (DPSU) under India’s Ministry of Defence.
  • Specializes in the production of ammunition and explosives for the Indian armed forces and exports.

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National Affairs – Daily Current Affairs December 25

8. What is the primary objective of the SVAMITVA Scheme?
A) To provide financial assistance to rural farmers
B) To digitize property records in rural areas
C) To build new schools and healthcare centers in villages
D) To promote tourism in rural regions
E) To provide employment opportunities for rural youth
Answer: B) To digitize property records in rural areas

Event and Location:

• Event: PM Modi to distribute 58 lakh property cards under the SVAMITVA Scheme.
• Date: December 27, 2024.
• Location: Virtual event with distribution across 12 states and 2 Union Territories.

Mandates and Objectives:

• SVAMITVA Scheme:
  • Launched in 2020 to digitize rural property records and provide “Record of Rights” to property owners.
  • Utilizes drone technology for mapping and validation of inhabited rural areas.
• Distribution Plan:
  • Over 50,000 villages to benefit, covering states like Chhattisgarh, Gujarat, Himachal Pradesh, Maharashtra, and others.
  • 13 Union Ministers will participate in events at various locations for card distribution.

Important Contributions:

• Progress Achieved:
  • 92% drone mapping completed, covering 3.17 lakh out of 3.44 lakh targeted villages.
  • 2.19 crore property cards finalized so far.
• Outcome:
  • Clear property documentation reduces disputes and enables property-based benefits.

Important Terms Explained:

• SVAMITVA Scheme:
  • Abbreviation: Survey of Villages and Mapping with Improvised Technology in Village Areas.
  • Objective: To provide an integrated property validation solution using drone technology.
  • Launched: 2020.
  • Implementing Bodies: Ministry of Panchayati Raj, State Revenue and Panchayati Raj Departments, and Survey of India.
• Record of Rights:
  • A legal document offering ownership details and demarcation of property boundaries.

Static GK Information:

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9. What is the primary focus of the Swadesh Darshan Scheme?
A) Promoting cultural festivals in rural areas
B) Developing theme-based tourist circuits across India
C) Constructing luxury hotels in urban regions
D) Establishing international tourism offices
E) Organizing annual tourism expos
Answer: B) Developing theme-based tourist circuits across India

Event and Location:

• Event: 76 projects sanctioned under the Swadesh Darshan Scheme.
• Date: December 25, 2024.
• Location: New Delhi, India.

Mandates and Objectives:

• Swadesh Darshan Scheme:
  • Launched in 2014-15 by the Ministry of Tourism.
  • Aims for integrated development of theme-based tourist circuits across India.
  • Promotes tourism as a driver for economic growth, employment generation, and infrastructure development.
• Swadesh Darshan 2.0:
  • Revamped to focus on sustainable and responsible tourism.
  • Adopts a tourist and destination-centric approach to ensure holistic development of tourist destinations.

Key Details:

• Sanctioned Projects:
  • Total: 76 projects sanctioned with a budget of ₹5,287.90 crore.
  • Completed: 75 projects physically completed.

Important Terms Explained:

• Swadesh Darshan Scheme:
  • A flagship scheme by the Ministry of Tourism to develop tourist circuits in a theme-based manner.
  • Themes include heritage, culture, eco-tourism, adventure tourism, and spiritual tourism.
• Swadesh Darshan 2.0:
  • An upgraded version of the Swadesh Darshan Scheme.
  • Focuses on sustainability, responsibility, and destination-driven tourism.

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10. What is the primary objective of the Ken-Betwa river-linking project?
A) To increase biodiversity in the Panna Tiger Reserve
B) To provide water for drinking and irrigation to Bundelkhand region
C) To develop tourism in Khajuraho and nearby areas
D) To construct a hydroelectric power plant for Madhya Pradesh
E) To improve water transportation between Uttar Pradesh and Madhya Pradesh
Answer: B) To provide water for drinking and irrigation to Bundelkhand region

Event and Location:

• Event: PM Modi laid the foundation stone for the Ken-Betwa river-linking project.
• Date: December 25, 2024.
• Location: Khajuraho, Madhya Pradesh.

Mandates and Objectives:

• Ken-Betwa River-Linking Project:
  • Aims to address water scarcity in the Bundelkhand region, covering parts of Uttar Pradesh and Madhya Pradesh.
  • Expected to benefit 10 districts of Madhya Pradesh and various districts of Uttar Pradesh.
  • Will provide drinking water and irrigation facilities to the drought-prone region.
• Key Features:
  • Estimated cost: ₹45,000 crore.
  • Involves linking Ken and Betwa rivers, with a focus on efficient water management.
• Controversy:
  • Opposition raised concerns over potential harm to the Panna Tiger Reserve, as parts of the reserve may be submerged due to the project.

Important Terms Explained:

• Ken-Betwa River-Linking Project:
  • India’s first river interlinking project under the National Perspective Plan for interlinking rivers.
  • Seeks to transfer surplus water from Ken River (Madhya Pradesh) to the Betwa River (Uttar Pradesh).
• Panna Tiger Reserve:
  • A critical tiger reserve located in Madhya Pradesh.
  • Home to diverse wildlife, it is part of the Project Tiger initiative. Concerns have been raised regarding the potential ecological impact of the project on this reserve.
• Bundelkhand Region:
  • A drought-prone area spanning parts of Uttar Pradesh and Madhya Pradesh.
  • Faces chronic water scarcity, making the Ken-Betwa project crucial for its development.

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11. What is the primary purpose of the Rashtraparv Website and Mobile App?
A) Providing online courses on defence strategies
B) Managing data on national defence operations
C) Facilitating access to information about national events and their management
D) Offering real-time weather updates during parades
E) Hosting an archive of speeches by Indian leaders
Answer: C) Facilitating access to information about national events and their management

Event and Location:

• Event: Launch of Rashtraparv Website and Mobile App.
• Date: December 25, 2024.
• Location: New Delhi, India.

Mandates and Objectives:

• Purpose of the Website and App:
  • Provide access to information related to national events such as:
    • Republic Day
    • Beating Retreat Ceremony
    • Independence Day
  • Facilitate ticket purchases, live streaming, seating arrangements, and route maps for events.
  • Host a Tableau Management Portal to assist States/UTs, ministries, and departments in designing and managing tableaux for Republic Day.
  • Preserve historic data regarding national events.
• Development Process:
  • Created by the Ministry of Defence through a consultative process.
  • Incorporates feedback from states and citizens for better event management and user experience.
• Accessibility:
  • Website: rashtraparv.mod.gov.in
  • Mobile App: Available on M-Seva (Government App Store).

Important Terms Explained:

• Good Governance Day:
  • Observed on December 25 to honor former Prime Minister Atal Bihari Vajpayee.
  • Emphasizes transparency, accountability, and citizen-centric governance.
• Rashtraparv Website and Mobile App:
  • Developed by the Ministry of Defence.
  • Enhances accessibility to national event-related information.
  • Promotes transparency and participatory governance.
• Tableau Management Portal:
  • A dedicated feature for States/UTs and ministries to submit, design, and manage tableaux for Republic Day celebrations.

Static GK Information:

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12. What is the primary objective of the ‘Viksit Panchayat Karmayogi’ initiative?
A) Strengthening national defense systems at the grassroots level
B) Empowering Panchayati Raj Institutions through capacity-building and participatory planning
C) Expanding digital payment systems in rural areas
D) Promoting agricultural exports through e-learning platforms
E) Facilitating national infrastructure projects through PRIs
Answer: B) Empowering Panchayati Raj Institutions through capacity-building and participatory planning

Event and Location:

• Event: Launch of the ‘Viksit Panchayat Karmayogi’ initiative on Good Governance Day.
• Date: December 25, 2024.
• Location: New Delhi, India.

Mandates and Objectives:

• Viksit Panchayat Karmayogi Initiative:
  • Part of the ‘Prashasan Gaon Ki Aur’ campaign.
  • Focuses on enhancing the capacity and competence of Panchayati Raj Institutions (PRIs).
  • Aims to equip elected representatives and officials with tools and knowledge for effective governance.
  • Emphasizes participatory planning and decentralized governance.
• Pilot States:
  • Odisha, Assam, Gujarat, and Andhra Pradesh.
• Technological Integration:
  • Utilizes e-learning platforms, AI-powered chatbots, and mobile apps to bridge knowledge gaps and improve service delivery.
  • Aims to create scalable models of citizen-centric governance.

Additional Initiatives Launched:

1. Enhanced iGOT Karmayogi Dashboard:
   • Introduced the 1600th e-learning course.
   • Advanced tools for monitoring user registrations, course completions, and capacity-building progress.
2. CPGRAMS Annual Report 2024:
   • Highlights 25 lakh grievances resolved annually under the Centralized Public Grievance Redress and Monitoring System.
3. Single Simplified Pension Application Form:
   • Combines nine separate forms into one digital format.
   • Real-time tracking, Aadhaar-based e-signatures, and integration with e-HRMS and Bhavishya.
4. Compendium of Pension Related Instructions 2024:
   • Consolidates all rules and guidelines related to pensions into one reference document.

Important Terms Explained:

• Viksit Panchayat Karmayogi:
  • Aimed at empowering Panchayats to drive equitable and sustainable development through capacity-building and governance reforms.
• Prashasan Gaon Ki Aur Campaign:
  • A broader campaign focused on decentralizing governance to the village level.
• CPGRAMS:
  • Centralized Public Grievance Redress and Monitoring System.
  • World’s largest citizen interface platform for grievance redressal.
• iGOT Karmayogi Platform:
  • A digital capacity-building platform under Mission Karmayogi to train civil servants for efficient governance.

Static GK Information:

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