6th December, 2024 Current Affairs

NATIONAL
Enhancing Natural Pearl Production

• The Department of Fisheries, Ministry of Fisheries, Animal Husbandry & Dairying, Government of India has taken several initiatives to promote natural pearl farming in collaboration with the State Governments, Research Institutes, and other concerned agencies.
• The major initiative taken by the Department of Fisheries includes (i) 2307 Bivalve cultivation (including mussels, clams, pearl etc.) units approved under Pradhan Mantri Matsya Sampada Yojana (PMMSY) at a total cost of Rs.461.00 lakh to States and Union Territories (ii) Support to pearl farmers to showcase the natural pearl farming and its economic importance at various international and national forums organized by the Department of Fisheries (iii) Standard Operating Procedure (SOP) for development of clusters in fisheries and Aquaculture sector including Pearl cluster under PMMSY circulated to all States and UTs. (iv) Notification and development of the first Pearl farming cluster in Hazaribagh, Jharkhand in collaboration with Govt. of Jharkhand and (v) To enhance the natural population of the marine pearl oyster, the ICAR-Central Marine Fisheries Research Institute (CMFRI) has ranched 1.65 crore hatchery produced seed in Tuticorin area of Tamil Nadu coast.    
• Pearl culture practice carried out in some pockets of Gujarat, Maharashtra, Bihar, Odisha, Kerala, Rajasthan, Jharkhand, Goa and Tripura. State-wise natural pearl production data is not reported by State Governments. National Fisheries Development Board (NFDB) has reported that 1.02 lakh pearl produced from Hazaribagh District of Jharkhand. The Department of Fisheries, Government of India has conducted several meetings with State Governments and other stakeholders to strengthen the market linkages of natural pearls.

INTERNATIONAL
OECD Raises India’s FY25 Growth Forecast to 6.8%

• The Organisation for Economic Co-operation and Development (OECD) has upgraded India’s GDP growth forecast for FY25 to 6.8%, up from 6.7%, citing robust public infrastructure spending, strong private consumption, and recovery in agricultural output.
• This growth momentum is expected to be sustained through FY25 and FY26, with investment and rural income growth being central to the economy’s expansion. Despite global economic uncertainties and geopolitical risks, India’s economic resilience points to a promising future.
• The acceleration in public spending and vigorous private investment is expected to support growth, maintaining near 7% GDP expansion for the next two years.

Nepal and China Sign Framework for BRI Cooperation

• During Prime Minister K.P. Sharma Oli’s official visit to China, Nepal and China signed a framework agreement for cooperation under the Belt and Road Initiative (BRI). This agreement is expected to accelerate the implementation of BRI projects, marking a significant step forward in Nepal-China relations.
• Although Nepal joined the BRI in 2017, no projects had been executed until now. The two countries are likely to finalize the Trans-Himalayan Multi-Dimensional Connectivity Network (THMDCN) and related initiatives soon. These projects align with Nepal’s goals of achieving political stability and driving economic growth.

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ECONOMY
World Bank Approves $188.28 Million Loan for Maharashtra’s Backward Districts

• The World Bank has approved a $188.28 million loan to Maharashtra aimed at boosting economic growth in the state’s underdeveloped districts. This loan, provided by the International Bank for Reconstruction and Development (IBRD), comes with a 15-year maturity period, including a five-year grace period.
• The project focuses on enhancing district-level governance, improving e-governance services, and fostering private sector involvement to accelerate economic development and job creation.
• The project will enhance Maharashtra’s key online service portals, such as MAITRI 2.0 for business services and RTS portal for government services, ensuring timely access for the private sector.

AWARDS
Scottish Sikh Artist Wins 2024 Turner Prize

• Glasgow-born Scottish Sikh artist Jasleen Kaur has been awarded the Turner Prize 2024, one of the world’s most prestigious accolades in contemporary art. Known for her evocative exploration of personal, political, and spiritual themes, Kaur received the prize for her solo exhibition Alter Altar, which combines sculpture, sound, and music to reflect on community, cultural inheritance, and anti-colonial struggles. Her work is celebrated for its innovative storytelling, connecting everyday objects to broader narratives of resilience, memory, and identity.
• Her exhibition Alter Altar at Tate Britain, which features sculptures animated by sound and music.
• The weaving of personal, political, and spiritual themes in her work.
• Use of objects like Irn-Bru (Scottish drink), family photos, vintage Ford Escort, and Axminster carpet to convey stories of cultural and migrant identity.

Published date : 07 Dec 2024 11:19AM