6th January, 2025 Current Affairs

NATIONAL
Decline in Rural-to-Urban Migration in India

• According to the Economic Advisory Council to the Prime Minister (EAC-PM), domestic migration decreased by 53.7 million in 2023, an 11.8% drop from 2011 levels. The overall migration rate fell from 37.6% in 2011 to 28.9% in 2023, with economic migration declining by 5 million, from 45 million in 2011 to 40 million in 2023.
• The workforce’s reliance on agriculture has grown, with 46.1% engaged in the sector in 2023-24, up from 42.5% in 2017-18. This shift has led to higher food demand, narrowing urban supplies, and persistent food inflation.
• Additionally, there is a rise in disguised unemployment and stagnation in rural wages, particularly among women, whose real wages declined by 2.3% annually over the past five years.
• The decline in migration and urbanization reduces the potential for productivity gains and economic growth traditionally driven by urban agglomerations. This trend also raises concerns about fiscal trade-offs, with the government potentially increasing revenue spending, cutting capital expenditures, or expanding GST coverage to compensate for slower tax revenue generation.

INTERNATIONAL
Hanoi Declared World’s Most Polluted City

• Hanoi, Vietnam’s capital, has recently been identified as the world’s most polluted city, with PM2.5 levels reaching 266 micrograms per cubic meter. This alarming air quality has raised significant health concerns among residents and prompted government action.
• Deputy Prime Minister Tran Hong Ha has called for an accelerated transition to EVs to reduce pollution.
• Hanoi aims for at least 50% of buses and 100% of taxis to be electric by 2030.

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ECONOMY
Govt Amends FTP to Require Stakeholder Consultations

• In a significant move to enhance inclusivity and transparency in trade policy formulation, the Directorate General of Foreign Trade (DGFT) has amended the Foreign Trade Policy (FTP) 2023. This amendment mandates consultations with relevant stakeholders, including importers, exporters, and industry experts, during the formulation or amendment of the FTP.
• The amendment aims to involve all stakeholders in the decision-making process before introducing or modifying policies and procedures affecting the importation, exportation, and transit of goods. This ensures that those impacted by trade policies have a platform to voice their opinions and contribute meaningfully.
• This amendment ushers in a new era of inclusiveness in decision-making related to trade. As the government begins to consider opinions and feedback from stakeholders on changes to the FTP through official channels, it is anticipated that this collaborative approach will lead to more effective and representative trade policies.

SPORTS
The 38th National Games Torch ‘Tejaswini’

• The 38th National Games will be hosted by Uttarakhand for the first time, marking a significant event in the state’s sports history. The torch, named ‘Tejaswini,’ has begun its journey across the state, spreading excitement and awareness about the games.
• Chief Minister Pushkar Singh Dhami flagged off the torch rally from Haldwani, and it is expected to cover 3,823 km, visiting 99 locations in 13 districts before reaching the capital, Dehradun. The National Games will take place from January 28 to February 14, 2025, at the Rajiv Gandhi International Stadium in Dehradun.
• The torch, named Tejaswini, travels across 13 districts of Uttarakhand, visiting 99 locations in total.
• The journey covers an extensive distance of 3,823 kilometers and is set to culminate in Dehradun on January 25, 2025.

Published date : 07 Jan 2025 06:29PM