August 2024 Important Topics PDF

AUGUST2024 IMPORTANT TOPICS OF AUG 2024 PAGE NO. 1. Axiom-4 mission of ISS 4 2. World Bank's B-Ready Index 6 3. What is Yen carry Trade?...

AUGUST2024 IMPORTANT TOPICS OF AUG 2024 PAGE NO. 1. Axiom-4 mission of ISS 4 2. World Bank's B-Ready Index 6 3. What is Yen carry Trade? 8 4. BIMSTEC Business Summit 10 S. Bangladesh Political Crisis & Its Impact on India 11 6. India's First Grain ATM 16 7. Quit India Movement (Static Point of View) 19 8. 33 d Summer Olympics 20 9. What is Dynamic Reference Rate 33 10. MPOX in Africa & WHO's Declaration 37 11. 78th Independence Day 38 12. India's first reusable hybrid rocket "RHUMI 1" 56 13. Who is Pavel Durov? 58 14. Launch ofULI by RBI 58 1S. Philippines-China Conflict 59 16. ISRO Ki Vyomitra 62 17. India's second nuclear-powered ballistic missile submarine- INS Arighat 65 18. Boeing Starliner's First Crewed Test Flight 66 Safe City Projects are organized efforts by local police and city authorities to make cities safer, especially for women, and to fix problems with infrastructure. These projects are part of national plans to prevent cyber-crimes against women and children, supported by Nirbhaya Fund. ► Cyber Crime Prevention Against Women and Children (CCPWC) Initiative focuses on tackling cybercrimes. A key part of this initiative is National Cybercrime Reporting Portal (NCRP), where people can report various cybercrimes, especially those targeting women and children. ► NCRP was launched in 2020 in India to make reporting cybercrimes such as hacking, identity theft and financial fraud easier. India hosted the 32f"I International Conference of Agricultural Economists at Pusa Institute in New Delhi. This is the first time in 66 years that India will host this important conference, showing how the country's role in global agricultural discussions has grown. ► The first conference took place in 1958 when India was dealing with poverty and hunger. ► The 2024 event highlights how far India has come in terms of sustainable development and food security. ► Theme: "Transformation Towards Sustainable Agri-Food Systems" ► The conference aims to address complex agriculture issues and provide young researchers a chance to connect.  AUGUST2024 Union Education Minister Dharmendra Pradhan launched the National Apprenticeship Training Scheme (NATS) 2.0 Portal and announced Rs 1oo crore in stipends for apprentices. This money will be given directly to apprentices through Direct Benefit Transfer (DBT) system. This new initiative is part of the government's effort to improve the skills and job prospects of young people in fields like IT, manufacturing and automobiles. ► NATS 2.0 Portal is designed to make the apprenticeship process easier. It allows people looking for apprenticeships to register and apply for opportunities, and it helps industries manage job openings and contracts more effectively. ► NATS 2.0 Portal supports the National Education Policy (NEP) 2020 which aims to make vocational education a key part of the education system. India has been elected as vice-chair of Supply Chain Council (SCC) under Inda-Pacific Economic Framework (IPEF). This council is focused on making supply chains stronger and more reliable for its 14 member countries. ► IPEF was launched in May 2022 in Tokyo & includes 14 member countries. ► The framework is organized around four key pillars: Trade, Supply Chain Resilience, Clean Economy &Fair Economy. ► IPEF has created three councils to deal with different supply chain issues: 1. Supply Chain Council (SCC) - Works on improving supply chain security and economic health. 2. Crisis Response Network (CRN) - Helps countries respond together in emergencies that disrupt supply chains. 3. Labour Rights Advisory Board (LRAB) - Addresses issues related to workers' rights. ► Being elected as vice-chair of the sec is a big step for India. The council aims to reduce reliance on China and improve communication about potential supply problems. ► The first meetings have set the stage for future cooperation, including plans for face-to-face meetings. SCC's first in-person meeting is planned for Sep 2024 in Washington alongside Supply Chain Summit. Preeti Sudan is the New Chairperson of UPSC. Hamas political head Ismail Haniyeh was killed in an Israeli airstrike in Tehran. He was attacked after attending the swearing-in of Iran's new president- Dr. Masoud Pezeshkian. Hamas. a militant Palestinian group, aims to destroy Israel and establish an Islamic Palestinian state. KUT Deemed to be University (KUT DU) has received a special honor from UN Economic and Social Council (UN ECOSOC). This  AUGUST2024 recognition given in New York puts KIIT DU in a special group of global institutions that are committed to achieving the Sustainable Development Goals (SDGs). ► It highlights KIIT's (Kalinga Institute for Industrial Technology) important role in helping with the UN's Agenda 2030. This status boosts KIIT's reputation and credibility in international education and development projects. ► KIIT has also signed an agreement with UN Volunteers (UNV) which allows its students to work as 'National University UN Volunteers'. This means students can join development projects with UN agencies, gaining valuable international experience and receiving stipends. ► KIIT's sister institution- Kalinga Institute of Social Sciences (KISS) has had Special Consultative Status with UN ECOSOC since 2015. With KIIT now receiving this recognition, it becomes the only technical university in India to have this status, showing its commitment to high-quality education and social responsibility. In 2023, India continued to be the eighth-largest exporter of agricultural products worldwide. However, India's agricultural exports dropped from $55 billion in 2022 to $51 billion. This decline happened during a time when many other leading countries also saw a decrease in their agricultural exports. ► India's reduction in agricultural exports can be attributed to several geopolitical factors such as Red Sea crisis & Russia-Ukraine war. ► These events have disrupted global trade. Additionally, India's export bans on key agricultural products also contributed to the decline. These bans included: Wheat in May 2022. Non-basmati rice in July 2023 & Sugar in Oct 2023. ► US remains the largest agricultural exporter. Indian Air Force (IAF) is getting ready to host its largest-ever multilateral military exercise called "Tarang Shakti" planned for Aug and Sep 2024. This exercise shows India's commitment to building strong international defense relationships and military partnerships. ► The main goal of "Tarang Shakti" is to improve cooperation and teamwork among the participating countries through complex aerial drills and missions. This event is a big step in India's military diplomacy, helping nations understand each other better and work together more effectively. Bharatiya Vayuyan Vidheyak 2024, introduced by Civil Aviation Minister K. Ram Mohan Naidu in Lok Sabha, is a new law meant to replace the old Aircraft Act of 1934. This new law is designed to update and simplify the rules for civil aviation in India. ► The new bill aims to make the regulations clearer, remove outdated rules, and ensure they match international standards for aviation. ► The new bill supports India's 'Make in India' campaign by encouraging local aircraft design and production. It also includes measures to improve maintenance, repair, and overhaul (MRO) services, which are important for strengthening India's aviation infrastructure.  AUGUST2024 To reduce academic pressure on students in Classes 6 to a. National Council of Educational Research and Training (NCERT) has proposed 10 'bagless days'. These days are meant to encourage hands-on learning and vocational experiences. ► The main goal of bagless days is to move learning outside traditional classrooms. This helps students interact with their community and learn practical skills for future jobs. ► The initiative aims to improve students' ability to observe and learn practical skills. It helps them understand and respect local jobs while encouraging a sense of community and the value of hard work. Assam government is planning a grand Jhumur dance performance with 8,000 tea tribe artists. Jhumur is a traditional dance of Assam's tea tribes, performed during autumn. National Institute of Technology-Calicut (NIT-C) has launched a new Web Portal called 'Nivahika' which is designed to change how the institute handles and reports data. It will improve the accuracy and consistency of the institute's data submissions and help with national rankings. ► Nivahika is a tool that helps collect, organize, and report data more effectively across different departments and research centers at NIT-C. India Shortlists Astronauts For Axiom-41ss Mission India has chosen two astronauts for Axiom-4 mission or Ax-4 to International Space Station (ISS). Group Captain Shubhanshu Shukla will be the main mission pilot and Group Captain Prasanth Balakrishnan Nair will be the backup pilot. This mission is a big step for India's human spaceflight program and involves working closely with US. Axiom-4 Mission Overview o The Axiom-4 mission is the fourth private astronaut mission aiming for 1ss. It is part of a broader partnership between ISRO and NASA. which was planned during PM Modi's visit to US in June 2023. A Space Flight Agreement with Axiom Space Inc. has been made to support this mission. NASA would provide 'advanced training' to Indian astronauts at one of its facilities, as part of the Artemis Accords. Training Schedule o The chosen astronauts will start their training in the first week of August 2024. Their training will prepare them for scientific research. technology demonstrations on ISS and public outreach activities. Importance of Mission o Axiom-4 mission will advance India's human space program and strengthen the cooperation between ISRO and NASA. The knowledge and experience gained from this mission will be valuable for future space exploration efforts.  Mission Objectives o Axiom-4 aims to facilitate commercial activities in space including scientific research, technological development and space tourism. It is set to carry a diverse crew of astronauts from different countries, reflecting the growing international interest in space exploration. o ISS is a large, permanently crewed laboratory that orbits Earth, 400 kilometres above its surface. It is home to astronauts and cosmonauts, and serves as a unique science laboratory. ISS- Established in 1998. First crew on ISS arrived on Nov 2000. Largest artificial object in space. Multinational collaborative project involving five participating space agencies: NASA, JAX.A, ESA, CSA & ROSCOSMOS Peggy Whitson set the US record for spending the most total time living and working in space for 665 days. India is gearing up to strengthen its space presence, ISRO aims to establish the country's first space station by 2035. NASA H/Qs & Administrator- Washington DC & Bill Nelson CAR-T cell therapy is a groundbreaking type of immunotherapy that uses the patient's immune system to fight certain blood cancers. It is particularly promising for treating leukemia and lymphoma. The immune system is the body's defense against diseases, composed of various types of cells. ► T-cells are important in CAR-T cell therapy because they can remember and attack specific harmful invaders. In this therapy, scientists change the T-cells using genetic engineering. They add special receptors called chimeric antigen receptors (CARs) to the T-cells. These CARs help the T-cells recognize and stick to cancer cells. This allows the T-cells to find and destroy the cancer cells more effectively. India will host the third Voice of Global South Summit in Aug 2024 that will address major global issues like conflicts, development challenges and climate change. PM Modi will lead the summit. which will involve discussions with representatives from various countries. ► The summit provides a platform for countries in the Global South- those in Latin America, Africa, and parts of Asia to share their views, difficulties, and priorities. Its goal is to improve communication and cooperation among developing nations. The first summit took place in Jan 2023 and second in Nov 2023 just after G20 Summit. Each event involved over 120 countries.  AUGUST2024 India ranks 39th in 2024 Travel and Tourism Development Index by the World Economic Forum. The country's scores improved in travel prioritization, safety, and health. In 2022, India had 14.3 million international tourists- 1.47% of global market. Ministry of Tourism promotes India domestically and internationally through integrated marketing and participation in travel fairs. Lieutenant General Sadhna Saxena Nair became the first woman to lead Indian Army's Medical Services. She previously served as Director General of Hospital Services and has received numerous honors including Vishisht Seva Medal and commendations from top Air Force officials. Turkey's Information and Communication Technologies Authority announced a block on lnstagram but has not disclosed the reason for the ban. ► The ban seems to be a response to lnstagram removing posts related to the death of Ismail Haniyeh- leader of Hamas's political wing. Haniyeh was killed in an explosion in Tehran, with Iranian officials and Hamas blaming Israel. Israel has not commented on these accusations. ► Turkey does not consider Hamas a terrorist organization unlike us and many Western countries. Turkish government has been critical of Israel's actions in Gaza and its treatment of Palestinians. President Recep Tayyip Erdogan has described Hamas members as "liberation fighters." 14th India-Vietnam Defence Policy Dialogue was held in New Delhi, showing the commitment to strengthen defence cooperation between the two countries, especially with growing security concerns in the region. ► Defence collaboration is a key part of Comprehensive Strategic Partnership between India and Vietnam. Vietnam is an important player in India's Act East Polley and is strategically important in the Inda-Pacific Region. India is preparing for World Bank's new Business-Ready (B- Ready) index. which will evaluate the global business environment and investment climate. This new index replaces the Doing Business index and focuses on key factors that affect how businesses operate. ► The B-Ready index aims to give a more complete picture than Doing Business index. It will compare countries based on ten important topics that cover the entire life cycle of businesses. The B-Ready report will focus on crucial areas such as: 1. Business entry: How easy it is to start a business 2. Labour: Employment regulations and workforce conditions 3. Financial services: Access to banking and financial products 4. International trade: How efficiently goods are imported and exported 5. Taxation: Tax policies and their impact on businesses  AUGUST2024 ► One of the key areas is international trade, which looks at how efficiently goods are imported and exported. This includes customs procedures and the role of digital trade, which makes it easier to access global markets. Digital trade helps increase transactions across borders, making international markets more accessible. Simplifying processes and lowering compliance costs are essential for maximizing the benefits of international trade, according to officials. ► India aims to reach $200-300 billion in e-commerce exports by 2030. Currently, e-commerce exports make up only a small part (0.9-1.1 %) of the country's total merchandise exports, so there is a need to become more efficient and increase capacity. ► B-Ready index also evaluates how prepared businesses are for economic shocks and crises. Created by Global Business Network, it looks at resilience and adaptability, considering factors like supply chain stability, workforce flexibility, and technology use. Countries with higher B-Ready scores often recover faster from crises. ► The index enco~ages proactive risk management strategies and has been useful during COVID-19 pandemic in helping businesses identify weaknesses. Small and medium-sized enterprises (SMEs) often score lower due to limited resources. The index highlights the importance of sustainable practices for long-term resilience. Atal Mission for Rejuvenation and Urban Transformation (AMRUT) 2.0 is an important project started in 2021 by NOA Govt. Its goal is to improve city infrastructure in India with a big investment. ► AMRUT 2.0 has been given ,ss,750 crores by GOI to use from 2021 to 2026. The main aim is to provide tap water to all homes in about 4,800 towns across the country, with a total cost of ,2.99 lakh crore. ► Main aim is to improve essential services like water supply and sewage management in cities. ► The rest aim to rejuvenate water bodies and develop parks. The plan includes building sewage treatment plants (STPs) and water treatment plants to help local households. Indian Air Force (IAF) has given Bharat Dynamics Limited (BDL) the go-ahead to manufacture 200 Astra Mark 1 air-to-air missiles. This is a big step forward for India's homegrown missile production abilities. ► Astra Mark 1 missiles were developed by DRDO and BDL is the main company chosen to produce them. The project received funding approval from Defence Acquisition Council (DAC). ► Astra missiles are designed to be used with various fighter aircraft including Russian Su-30 and Indian-made LCA Tejas. This compatibility allows the IAF to deploy the missiles more flexibly in different operations. ► Astra Mark 1 is India's first air-to-air missile that can hit targets beyond visual range, up to 110 kilometers away and at altitudes up to 20 kilometers.  AUGUST2024 Alarming tiger deaths and hunting incidents have been reported in Madhya Pradesh's Bandhavgarh Tiger Reserve. Located in Umaria district between Vindhyan and Satpura ranges, it became a national park in 1968 and tiger reserve in 1993. Australia's Victoria has confirmed cases of Legionnaires' disease, with one woman dying. This severe form of pneumonia is caused by Legionella bacteria, found in natural bodies of water and water systems like tanks. It spreads through inhaling contaminated water aerosols, not person-to-person. Embassy of India in Jakarta and lndCham restarted Indian Chamber of Commerce in Indonesia. This event attracted more than 150 members from important Indian and Indonesian companies, marking a key moment in boosting economic ties between the two countries. ► The revival of the chamber meets the need for a lively business community that supports ecooomic relations between India and Indonesia, which have grown significantly in the past ten years. ► India and Indonesia have formed a strong partnership called Comprehensive Strategic Partners. What is "Yen carry trade"? Global equity markets experienced a severe downturn starting on Aug 05, causing significant declines in major markets from Tokyo to London. Japan's Nikkei had its largest single-day drop since 1987. indicating a major systemic issue. What Happened on Aug 05, 2024? o On Aug 05, 2024, markets took a sharp dive. Nikkei index dropped by 12.40''/4 and Topix index by 12.48%, leading to trading halts. European and Indian markets also fell, with India's Sensex losing over 2,200 points, wiping out around ,1s trillion in wealth. What Caused the Meltdown? o The main reason for this market collapse was the unwinding of Yen carry trade. This trading strategy involves borrowing money in Japan, where interest rates are low and investing it in other countries with higher returns. As Japan started raising interest rates, this trade became less profitable. Why is Ven Carry Trade Unraveling Now? o Bank of Japan increased interest rates to 0.25% and announced plans to reduce its bond- buying program, strengthening the yen against US dollar. This change made the yen carry trade less attractive, causing investors to sell off their positions quickly.  AUGUST2024 Are There Other Contributing Factors? o Other factors adding to the market instability included fears of a potential US recession, marked by rising unemployment to 4.3% and geopolitical tensions particularly concerns about a possible conflict involving Iran. About yen carry trade o The yen carry trade involves borrowing the Japanese yen at low interest rates to invest in assets that offer higher returns. It became popular after 1990s due to Japan's slow economic growth. Traders make money by taking advantage of currency fluctuations. However, this strategy is risky, especially during times of market volatility, as changes in currency value can lead to significant losses. Bank of Japan's monetary policies greatly affect the success of yen carry trade. It works best when global investors are willing to take risks, often leading to large capital flows into emerging markets. Haryana CM Nayab Singh Saini announced that the state would buy all crops at Minimum Support Price (MSP), making Haryana the first state in India to do this on such a wide scale. This move is seen as a strategic effort before the upcoming Assembly elections, especially after the ruling party's poor performance in the recent Lok Sabha elections. ► MSP is a price set by the government at which it buys certain crops directly from farmers. It was established in India in 1966 to protect farmers from price drops. MSP is announced for 23 crops including cereals, pulses and oilseeds. It is a crucial tool for agricultural stability because it encourages production and helps with food security. ► MSP, recommended by Commission for Agricultural Costs and Prices (CACP), ensures fair prices for farmers and promotes crop diversification. Ministry of Statistics & Programme Implementation (MOSPI) launched the e- Sankhyiki portal which is a big step forward for how India manages and shares data. It makes it easier to access and analyze important information. ► This portal launched by GOI aims to make the process of collecting and using Statistical Data more efficient and digital. It provides real-time access to data, helping with better planning and decision-making. The portal focuses on various sectors like agriculture, health, and education. It improves transparency and makes data more accessible to the public. ► The portal has several features to keep data safe like Cloud Storage, Security Audits & Vulnerability Assessments. ► CERT-In- part of Ministry of Electronics and Information Technology (MeitY) supports the portal by- Advisories and Guidelines, Training and Sensitization, Cyber Threat Exchange & Cyber Crisis Management. Indian President Droupadi Murmu's state visit to Fiji marks a significant step in strengthening diplomatic relations between India and Fiji. ► When President Murmu arrived in Suva, she was warmly welcomed with a ceremonial guard of honour from the Fiji Military Force. This honour highlights 91 Compiled by- Adv. Karan Verma  AUGUST2024 Fiji's respect for India's leadership and the importance of their relationship. A traditional Fijian welcome ceremony was held, attended by Fijian PM Sitiveni Rabuka. ► President Murmu was awarded the Companion of Order of Fiji, the highest honour in Fiji. This award signifies deep respect and strong connections between India and Fiji. President Murmu also addressed the Fijian Parliament, reflecting on 75 years of diplomatic relations between India and Fiji. She highlighted the importance of their growing relationship. ► Companion of Order of Fiji established in 1973 is a prestigious honour given to individuals for outstanding service to Fiji. It is not hereditary and has three grades, with the Companion being the second highest. Recipients are chosen by President of Fiji. Ministry of External Affairs + Confederation of Indian Industries (CII) is organizing the first BIMSTEC Business Summit in New Delhi that aims to improve cooperation among the countries that are part of Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC). ► MEA Dr. S. Jaishankar will open the summit. The goal is to boost trade and investment relationships among the participating countries. ► The main topics to be discussed at the summit are Making trade easier, improving regional connectivity. ensuring energy security. promoting inclusive growth & Encouraging sustainable development. ► BIMSTEC members should re-examine the priorities of member nations with regards to trade negotiations so that the delayed Free Trade Agreement can be finalized. ✓ BIMSTEC established in 1997 with the signing of Bangkok Declaration includes seven countries: Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal. ✓ H/Qs- Dhaka, Bangladesh. ✓ Initially consisting of 4 Member States, it was known as 'BIST-EC' (Bangladesh, India, Sri- Lanka and Thailand Economic Cooperation). ✓ In 1997, it was renamed 'BIMST-EC' after Myanmar joined. ✓ The admission of Nepal and Bhutan in 2004 led to another name change to 'Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation' (BIMSTEC). ✓ Its focus is on improving trade, investment and economic cooperation among its members. ✓ The summit promotes sectors like energy, trade and technology. ✓ It has also addressed challenges such as climate change. ✓ The first formal summit took place in 2004 but BIMSTEC has become more active since 2015. The last summit was held in 2022 in Sri Lanka, during a time of regional political tensions. India is currently holding a big military exercise in Eastern Ladakh. involving all main parts of its armed forces. This exercise is very important because of the ongoing tensions with China along LAC. The main goal of this exercise is to check and improve how ready the Indian Army is to quickly respond to any potential conflicts. The maneuvers are taking place near areas that are known to be trouble spots.