Current Affairs and GK Weekly One Liners 16th to 22nd of December 2024

Switzerland Removes India’s Most-Favored-Nation Status in Tax Agreement

Switzerland announced the removal of the most-favored-nation (MFN) clause from its tax agreement with India. This change follows a 2023 Supreme Court ruling involving Nestle, which clarified the applicability of the MFN clause. Effective from January 1, 2025, this decision will impact Indian companies operating in Switzerland, particularly in sectors such as financial services, pharmaceuticals, and IT.

The MFN status, a cornerstone of global trade under World Trade Organization (WTO) rules, ensures that countries provide equal trade advantages to all partners. With the suspension, Indian goods and services may face higher tariffs, additional trade barriers, and reduced access to the Swiss market.

Strengthening Financial Ties: 3rd India-UK Financial Markets Dialogue

Senior officials from India’s Ministry of Finance and the UK’s HM Treasury met for the 3rd India-UK Financial Markets Dialogue. Key regulatory bodies, including the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI), and the Bank of England (BoE), participated in the discussions.

The dialogue aimed at bolstering financial cooperation between the two countries. Key topics included capital markets, insurance, fintech innovations, financial data management, and sustainable finance. Both sides discussed strategies to enhance trade and investment, including the potential for Indian companies to list directly on the London Stock Exchange and other international markets.

National Energy Conservation Day: Promoting a Sustainable Future

India celebrates National Energy Conservation Day, a day dedicated to raising awareness about the vital importance of energy conservation in our daily lives. Since its inception in 1991, this observance has highlighted the necessity of energy-saving practices and technologies to ensure sustainable development.

This year’s activities focus on the transformative role of renewable energy and innovative technologies in achieving energy efficiency. Events across the country include educational programs, workshops, and exhibitions showcasing the latest advancements in energy conservation and sustainable practices.

Desert Knight 2024: Enhancing Trilateral Defence Cooperation

India, France, and the UAE began the Desert Knight air combat exercise over the Arabian Sea. This trilateral initiative aims to strengthen defence cooperation and improve the operational capabilities of the air forces from these nations.

The exercise features a range of aircraft, including India’s Sukhoi-30MKIs, Jaguars, IL-78 refuellers, and AEW&C systems, France’s Rafale jets, and the UAE’s F-16 fighters. The drills focus on complex combat manoeuvres and realistic scenarios, enhancing interoperability and strategic coordination among the participating air forces.

Dark Eagle: U.S. Unveils Next-Generation Missile Defense System

The United States introduced the Dark Eagle missile system, a cutting-edge anti-missile technology designed to intercept and destroy enemy missiles mid-flight. The system employs medium-range missiles capable of reaching speeds up to Mach 17, making it one of the fastest and most advanced missile defense systems globally.

Dark Eagle represents a significant technological leap in missile defense, enhancing the U.S.’s ability to protect against a range of airborne threats. The system is poised to play a crucial role in national and global security by offering rapid response capabilities and unparalleled precision.

WADA Approves NDTL to Manage Advanced Athlete Biological Passport System

The World Anti-Doping Agency (WADA) officially approved the National Dope Testing Laboratory (NDTL) in New Delhi to manage the Athlete Biological Passport (ABP). This cutting-edge anti-doping measure allows for the monitoring of athletes’ biological markers over time to detect anomalies that may indicate doping.

This approval signifies a major advancement in India’s anti-doping efforts, positioning NDTL among the elite 17 WADA-approved Athlete Passport Management Units (APMU) globally. The ABP enables more precise and targeted testing, ensuring a level playing field and safeguarding the integrity of sports.

Nupi Lal Numit 2024: Celebrating Manipur’s Women Warriors

Manipur commemorated Nupi Lal Numit with events led by Chief Minister N. Biren Singh at the Nupi Lal Memorial Complex in Imphal. This day honors the brave Manipuri women who fought against British colonial injustices in the uprisings of 1904 and 1939.

The ceremony featured floral tributes, cultural performances, and speeches that underscored the courage and resilience of these women. Chief Minister Singh highlighted ongoing contributions of Manipuri women across various fields and announced new initiatives like the Ima Nongthangleima Yaipha Tengbang Scheme, aimed at supporting unemployed women over 40.

NCL Launches CHARAK Initiative to Provide Free Health Services in Singrauli

Northern Coalfields Limited (NCL), under the Ministry of Coal’s guidance, launched the ‘CHARAK’ project – Community Health: A Responsive Action for Koylanchal. This health-centric CSR initiative aims to provide free treatment for economically disadvantaged individuals in the Singrauli region.

Residents of Singrauli and Sonbhadra districts with an annual family income below Rs. 8 lakhs are eligible for this scheme, which covers a range of serious health conditions, including malignancy, TB, HIV, cardiovascular diseases, organ transplants, and more. NCL CMD B. Sairam emphasized the scheme’s goals and its importance in enhancing healthcare accessibility for the local community.

India’s Women’s Hockey Team Secures Thrilling Win in Junior Asia Cup 2024

The Indian women’s hockey team triumphed in the Women’s Hockey Junior Asia Cup 2024 held in Muscat, Oman. They clinched victory against China after a tense penalty shootout, marking their second consecutive title in this prestigious tournament.

The final match was a closely fought battle, ending in a 1-1 draw after regulation time. India’s goalkeeper, Nidhi, delivered a stellar performance with three crucial saves during the shootout. Sakshi Rana, Ishika, and Sunelita Toppo successfully converted their penalty shots, securing the championship for India.

Mikheil Kavelashvili Elected President of Georgia Amid EU Accession Controversy

Georgia experienced a significant political shift with the election of Mikheil Kavelashvili as the new president. His election comes amidst rising discontent over the government’s decision to postpone the country’s European Union accession until 2028.

Kavelashvili, a former footballer and member of the ruling Georgian Dream party, was elected by a 300-member electoral college, receiving 224 out of 225 votes. His election has sparked protests, with many Georgians expressing anger over the delayed EU accession and the perceived influence of Russia in Georgian politics.

Britain Makes Historic Entry into CPTPP as First European Member

Britain made history by officially joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), becoming the first European nation to enter this influential trade bloc. This strategic move makes the UK the 12th member, joining countries such as Canada, Japan, Australia, and Vietnam.

This landmark trade agreement is projected to boost the British economy by £2 billion annually over the long term. It offers UK businesses the advantage of lower tariffs and reduced trade barriers when engaging with CPTPP member countries, benefiting sectors like financial services, manufacturing, and the food and drink industry.

Uber’s ‘Moto Women’ Pilot Program: Revolutionizing Women’s Mobility in Bengaluru

Uber has introduced a pioneering pilot program called ‘Moto Women’ in Bengaluru, aimed at enhancing safety and inclusivity in urban mobility. This service is exclusively designed for female riders, pairing them with female drivers. By addressing women’s safety and mobility needs, the initiative also provides flexible earning opportunities for female drivers.

22nd CII Connect 2024: AI Transforming Business

The Confederation of Indian Industry (CII) Tamil Nadu will host the 22nd edition of CII Connect on December 17 and 18, 2024, in Chennai. The focus this year is on “Artificial Intelligence in Action – Real-World Applications in Business.” The event will explore how AI is reshaping various industries, driving innovation, and enhancing business operations.

OPEC Fund Commits $1 Billion to Global Development Projects

The OPEC Fund for International Development has recently approved nearly $1 billion in funding to support a range of development projects across the globe. This significant decision was made during the 190th Governing Board meeting held in Vienna. The funding aims to address critical areas such as infrastructure, food security, renewable energy, and economic resilience, benefiting numerous countries in need.

India Rises to Global Prominence as 3rd Largest Smartphone Exporter

India has made significant strides in the global smartphone market, advancing from the 23rd position in 2019 to become the 3rd largest exporter by 2024. In November 2024 alone, India’s smartphone exports surpassed ₹20,000 crore, marking a remarkable achievement. This growth is largely fueled by the Production-Linked Incentive (PLI) scheme, which has encouraged local manufacturing and boosted exports.

Kiran Mazumdar-Shaw Receives Jamsetji Tata Award for Pioneering Contributions in Biosciences

Kiran Mazumdar-Shaw, Chairperson of Biocon Group, was awarded the prestigious Jamsetji Tata Award by the Indian Society for Quality (ISQ) for her exceptional contributions to the biosciences sector in India. This recognition highlights her pioneering efforts in establishing Biocon as a global biopharmaceutical enterprise and her unwavering commitment to delivering high-quality healthcare solutions.

Nat Sciver-Brunt Shatters Record for Fastest Test Century in Women’s Cricket

On December 15, 2024, England’s Nat Sciver-Brunt made history at the Mangaung Oval in Bloemfontein, South Africa, by scoring the fastest century in women’s Test cricket. She reached this remarkable feat in just 96 balls, breaking the previous record held by Sri Lanka’s Chamani Seneviratna, who achieved it in 106 balls back in 1998.

Sciver-Brunt’s impressive innings of 128 runs off 145 balls featured 18 fours and played a crucial role in placing England in a dominant position against South Africa. This stellar performance was accompanied by Maia Bouchier, who also scored a century, making it an unforgettable day for English cricket.

The Best FIFA Football Awards 2024: Celebrating Football’s Finest in Doha

The Best FIFA Football Awards 2024 took place in Doha, Qatar, on December 17, 2024, celebrating the outstanding achievements in football over the past year. The event honored top players, coaches, and memorable goals, with fans, national team captains, and coaches participating in the voting process.

Mamata Banerjee Launches ‘Banglar Bari’: West Bengal’s Affordable Housing Revolution

West Bengal Chief Minister Mamata Banerjee has unveiled the Banglar Bari housing scheme, a state-funded initiative aimed at providing affordable housing for the residents of West Bengal. Introduced on December 17, 2024, the scheme targets economically weaker sections, offering financial assistance of ₹1.2 lakh per family to construct permanent homes.

The Banglar Bari initiative addresses the lack of central funding for the Pradhan Mantri Awas Yojana over the past three years. The state government has identified over 28 lakh beneficiaries through a comprehensive survey, with the first installment of ₹60,000 already transferred to the bank accounts of 12 lakh beneficiaries.

Real Madrid Triumphs in 2024 Intercontinental Cup with Dominant Display Over Pachuca

Real Madrid emerged victorious in the 2024 FIFA Intercontinental Cup, delivering a dominant 3-0 performance against Mexico’s Pachuca at Lusail Stadium in Qatar on December 18, 2024. Goals from Kylian Mbappe, Rodrygo, and Vinicius Jr. secured the win. Vinicius Jr. was also named the Player of the Tournament, capping off a stellar campaign.

Tom Cruise Awarded Highest Civilian Honor by US Navy

Tom Cruise has been awarded the US Navy’s Distinguished Public Service Award, the highest civilian honor, for his exceptional contributions to the military through his iconic roles in movies like Top Gun. The award was presented by Secretary of the Navy Carlos Del Toro during a ceremony at Longcross Studios near London on December 17, 2024.

Cruise’s portrayal of naval aviators in Top Gun and its sequel Top Gun: Maverick has significantly increased public awareness and appreciation for the Navy’s highly trained personnel and their sacrifices. His dedication to authentically representing military roles has inspired generations to consider service in the Navy and Marine Corps.

Bhopal Hosts the 10th International Forest Fair: Fostering Sustainable Practices and Empowering Communities

The 10th International Forest Fair began in Bhopal, Madhya Pradesh, on December 17, 2024, and will run until December 23. This year’s event, themed “Women Empowerment through Minor Forest Produce,” focuses on promoting sustainable forest practices and empowering local communities. With around 300 stalls, the fair showcases a variety of forest products, government initiatives, and innovations aimed at sustainable development.

Sri Lanka Announces Visa-Free Travel for Indians Starting January 2025

Starting January 2025, Sri Lanka will implement a new visa policy that grants visa-free travel to citizens from 39 countries, including India. Sri Lankan Foreign Minister Vijitha Herath made this announcement during an event in New Delhi. This initiative aims to strengthen bilateral relations and boost tourism between Sri Lanka and these nations.

India’s Direct Tax Collections Soar by 20% in 2024-25

The Income Tax Department has reported impressive growth in direct tax collections for the financial year 2024-25, surpassing ₹19.21 lakh crore. This marks a substantial 20.32% increase compared to the previous year, reflecting a strong economic recovery and improved compliance among taxpayers. Additionally, net direct tax collections rose by 16.45%, reaching ₹15.82 lakh crore.

Indian Army Establishes AI Incubation Centre in Bengaluru to Enhance Technological Integration

The Indian Army has recently inaugurated the Artificial Intelligence Incubation Centre (IAAIIC) in Bengaluru, highlighting its commitment to integrating cutting-edge technologies into its operations. The centre, inaugurated virtually by Army Chief General Upendra Dwivedi on December 18, 2024, aims to enhance the Army’s capabilities by developing advanced data-driven solutions.

The IAAIIC will serve as a hub for innovation and collaboration, bringing together academia, startups, industry leaders, and domain experts to develop indigenous AI solutions tailored to the Army’s unique needs. Focus areas include predictive maintenance, enhanced surveillance, decision support systems, and autonomous platforms.

Veteran Politician and Former Haryana CM Om Prakash Chautala Passes Away at 89

Om Prakash Chautala, a veteran politician and five-time Chief Minister of Haryana, has passed away at the age of 89 on December 20, 2024, in Gurugram following a cardiac arrest. The Haryana government has declared a three-day state mourning period from December 20-22, during which the national flag will be flown at half-mast and all state government functions will be canceled.

Easterine Kire’s ‘Spirit Nights’ Wins 2024 Sahitya Akademi Award for English Literature

Easterine Kire, a celebrated author from Nagaland, has been awarded the 2024 Sahitya Akademi Award for her novel Spirit Nights. The prestigious award, announced recently, recognizes Kire’s exceptional contribution to literature. Spirit Nights, published by Simon and Schuster India, draws from the rich folklore of the Chang Naga tribe, weaving an evocative tale that explores themes of darkness and cultural heritage. The award ceremony is set to take place on March 8, 2025, in Delhi.

ADB Approves $42M Loan for Coastal Resilience in Maharashtra

The Central Government of India has partnered with the Asian Development Bank (ADB) to bolster coastal protection in Maharashtra, securing a $42 million loan. This initiative, part of the Maharashtra Sustainable Climate-Resilient Coastal Protection and Management Project, aims to enhance resilience against environmental challenges faced by coastal communities. The project will focus on restoring and stabilizing the coastline, protecting local livelihoods, and promoting sustainable practices.

New Delhi to Host 2025 Para Athletics World Championships: A Historic First for India

New Delhi will host the prestigious 2025 World Para Athletics Championships from September 26 to October 5, marking the first time India will hold this significant event. The championships will take place at the Jawaharlal Nehru Stadium, drawing over 1,000 athletes from more than 100 countries. This event serves as a crucial qualifier for the Los Angeles Paralympic Games 2028 and will significantly bolster India’s efforts in promoting the Paralympic movement.

Additionally, this championship is expected to enhance India’s bids to host future major sporting events, including the 2029 World Athletics Championships and the 2036 Olympic Games.

India’s Pharmaceutical Industry: A Global Powerhouse Worth $50 Billion

India’s pharmaceutical sector has ascended to a prominent position on the global stage, now ranking as the third-largest in the world by volume and valued at $50 billion for the 2023-24 financial year. Of this, $23.5 billion comes from domestic consumption, while $26.5 billion is driven by exports. The industry, which includes generic drugs, bulk drugs, over-the-counter medications, vaccines, biosimilars, and biologics, also ranks 14th in production value worldwide, reflecting its expansive and diversified capabilities.

India Rises to 39th in 2024 Travel and Tourism Development Index by WEF

India has made a remarkable leap in the World Economic Forum’s Travel and Tourism Development Index (TTDI) 2024, securing the 39th position among 119 countries. This significant improvement highlights the country’s progress from its previous rankings of 54th in 2021, later adjusted to 38th due to changes in WEF’s methodology. The enhancement is driven by better infrastructure, supportive government policies, and a robust post-pandemic recovery in international travel.

China Breaks Spacewalk Duration Record with 9-Hour Extravehicular Mission

China has set a new milestone in space exploration, achieving a global record for the longest spacewalk. On December 20, 2024, two astronauts aboard the Tiangong space station, Cai Xuzhe and Song Lingdong, successfully completed a nine-hour extravehicular activity (EVA). This surpasses the previous record held by NASA astronauts in 2001, who conducted an eight-hour and 56-minute EVA.

The mission, which involved intricate repairs and installations outside the space station, underscores China’s rapid advancements in space technology and its ambitious future plans, including lunar exploration and potential human missions to Mars. This achievement highlights not only the technical prowess but also the growing capabilities of China’s space program.

Explosive Drone Attack Targets High-Rises in Kazan Amid Ukraine-Russia Conflict

On December 21, 2024, several explosive-laden drones, believed to be part of Ukraine’s ongoing conflict with Russia, targeted residential high-rises in Kazan, the capital of Russia’s Republic of Tatarstan. The coordinated attack resulted in significant damage to multiple buildings. Local authorities have reported no casualties so far, but the incident has heightened tensions and led to increased security measures in the region.

India Engages in Key Discussions at 24th BIMSTEC Senior Officials Meeting, Hosted by Thailand

India actively participated in the 24th BIMSTEC Senior Officials Meeting (SOM), held virtually by Thailand on December 20, 2024. Jaideep Mazumdar, Secretary (East) from the Ministry of External Affairs (MEA), represented India. The meeting reviewed the progress made since their last session in March 2023, covering various priority areas such as sustainable development, connectivity, security, and people-to-people exchanges. The officials also outlined future plans to strengthen regional cooperation and enhance mutual understanding among BIMSTEC member states.

Delhi to Host Historic 2025 Para Athletics World Championships

India is gearing up to host the 2025 Para Athletics World Championships, marking a historic first for the country. Scheduled from September 26 to October 5, 2025, the event will take place at the iconic Jawaharlal Nehru Stadium in New Delhi. This will be the 12th edition of the championships and the fourth time it is held in Asia.

The championships are expected to draw over 1,000 athletes from more than 100 nations, serving as a significant event in the lead-up to the Los Angeles Paralympic Games 2028. This occasion is set to elevate India’s status on the global sports stage and play a crucial role in advancing the Paralympic movement within the country.

NTPC Unveils Plans for Nuclear Power Project in Bihar

NTPC, one of India’s leading power giants, has announced ambitious plans to establish a nuclear power project in Bihar as part of its strategy to diversify its energy portfolio. Chairman and Managing Director (CMD) Gurdeep Singh revealed this initiative during the Bihar Business Connect 2024 summit. NTPC is seeking a suitable land parcel from the state government to proceed with the nuclear power project, which aligns with their broader goal of increasing non-fossil energy capacity. This project is part of NTPC’s extensive investments in renewable energy sources, including rooftop solar, ground-mounted solar, floating solar, pumped storage, and battery energy storage solutions.

Dr. Deepa Malik’s Memoir ‘BRING IT ON: The Incredible Story of My Life’ to be Published by HarperCollins India

HarperCollins India is set to release ‘BRING IT ON: The Incredible Story of My Life’, a compelling memoir by Dr. Deepa Malik, one of India’s most celebrated para-athletes. This book delves into Dr. Malik’s extraordinary journey, chronicling her battles against spinal tumors and societal prejudices, as well as her triumphs in the world of sports. With 23 international medals to her name, including a silver at the 2016 Rio Paralympics, Dr. Malik’s story is a testament to her resilience, determination, and indomitable spirit.

Boost to Aatmanirbhar Bharat: MoD Contracts L&T for K9 VAJRA-T Self-Propelled Guns

In a significant move to enhance the firepower of the Indian Army and further the Aatmanirbhar Bharat initiative, the Ministry of Defence (MoD) has signed a Rs 7,628.70 crore contract with Larsen & Toubro (L&T) for the procurement of additional K9 VAJRA-T self-propelled tracked artillery guns. This falls under the “Buy (Indian)” category, emphasizing India’s push for self-reliance in defense manufacturing.

The K9 VAJRA-T guns, known for their mobility and precision, are designed to operate efficiently in harsh conditions, including sub-zero temperatures and high altitudes. This procurement is expected to generate employment for over nine lakh man-days over the next four years, involving active participation from various Indian industries, including MSMEs. This project will significantly bolster India’s defense capabilities and support the local industry.