Current Affairs

2^nd March 2023

Top 17 Daily Current Affairs: National & International News

The Current Affairs 2nd March 2023 covers the following news headlines: Pusa Krishi Vigyan Mela, Nitin Gadkari, Reliance Jio, ‘Chip 4’ talks, President of Nigeria, Windsor framework, What is POTS..

National News

1. Pusa Krishi Vigyan Mela Organized by IARI in New Delhi

The Pusa Krishi Vigyan Mela is organized every year by the Indian Agricultural Research Institute (IARI) and this year it will be held in New Delhi from 2nd to 4th March 2023.

The Pusa Krishi Vigyan Mela will be inaugurated by the Chief Guest, Union Minister of Agriculture and Farmers Welfare, Narendra Singh Tomar.

This time the theme of the fair is “Nutrition, Food and Environmental Protection with Shree Anna”.

2. Nitin Gadkari Inaugurated 7 National Highway Projects in MP

Minister for Road Transport and Highways Nitin Gadkari inaugurated 7 National Highway projects worth Rs 2,444 crore, totaling 204 km in Rewa, Madhya Pradesh.

Union Minister Nitin Gadkari informed that with the construction of the Churhat tunnel and bypass, the length between Rewa to Sidhi has decreased by 7 km. Now instead of two and a half hours, people will be able to cover this distance in 45 minutes.

The Minister informed that the movement of vehicles in the Rewa-Sidhi section will be facilitated by the construction of the tunnel, white tigers, and other wild animals, and the entire forest ecosystem will be protected.

With the construction of the Devtalab-Naigarhi road, the connectivity of Rewa district with Prayagraj and Varanasi will be easy.

3. Reliance Jio second-strongest telecom brand in world, says report

Reliance Jio has climbed up to number two rank — up from fifth place last year — in a list of the top 10 strongest telecom brands in the world.

Swisscom increased brand value by 5 percent to $6.3 billion and is the strongest telecoms brand with a Brand Strength Index (BSI) score of 92.

Indian brand Jio is the second-strongest telecoms brand having a brand strength index score of 90/100 and earning an elite AAA+ rating. It increased its brand value up to 6 percent to $5.4 billion; a two-point rise from last year.

International News

4. Japan, U.S., South Korea, Taiwan launch ‘Chip 4’ talks for supply chain

Japan, the United States, South Korea and Taiwan have held the first meeting of senior officials under a new U.S.-led framework to help ensure a stable supply of semiconductors, Japan’s industry ministry said.

Officials from industry organizations in the four economies took part in the virtual conference of the “Chip 4” alliance on Feb. 16 to discuss ways to maintain supply chain resilience in times of natural disasters and other contingencies.

In a bid to outcompete China technologically, the Biden administration launched a new dialogue forum with Japan and South Korea on friend-shoring semiconductors as it invites companies to compete for a share of the $50 billion already approved to revitalize the U.S. chip industry.

The inaugural meeting of the Economic Security Dialogue among the United States, Japan and South Korea was launched in Honolulu.

Japan and South Korea are home to two of the world’s strongest semiconductor industries, and the forum aims to address issues related to critical and emerging technologies, supply chain resilience of semiconductors, batteries and critical minerals, as well as data transparency amid the U.S.-China tech war.

5. Bola Tinubu elected as the new President of Nigeria

Nigerian electoral officials announced on 1 March 2023 that the ruling party’s candidate in the presidential election, Bola Tinubu, has been elected as the country’s new president.

Bola Tinubu has been associated with the ‘All Progressive Congress Party’ from which he has been winning elections. He will become Nigeria’s fifth president since the country returned to democratic rule in 1999, emerging as winner for the country’s top job on his first attempt.

6. The Windsor framework: The deal between UK and EU

After months of intensive talks, the United Kingdom and European Union have unveiled an agreement on the Northern Ireland Protocol, called the Windsor Framework.

This is not a new protocol or a fundamental rewrite of the current treaty. But the package announced this week is an improved deal that could substantively ease how the protocol will operate for businesses as well as individuals.

It is a negotiating achievement that marks a turning point in the long road since Brexit for Northern Ireland.

7. What is POTS, a disease which affected 1 million Americans after Covid

POTS or postural orthostatic tachycardia syndrome has affected around three million Americans before Covid-19 and at least one million new patients after the pandemic. Many people are still not familiar with the disease. A study reveals that around 2% to 14% of people with covid develop POTS.

The majority of people with POTS are women and people assigned female at birth aged 15 to 50 years. But men and people assigned male at birth can also have POTS.

States News

8. Salhoutuonuo Kruse and Hekani Jakhalu become 1st women MLAs from Nagaland

Salhoutuonuo Kruse and Hekani Jakhalu, both from the ruling Nationalist Democratic Progressive Party, made history by becoming the first women candidates to be elected in the state assembly election.

In a significant milestone, people in Nagaland have elected two women candidates after 60 years since it attained statehood. Kruse won from Western Angami AC and Jakhalu.

Defence News

9. Indian Army to Buy 310 Indigenous Advanced Towed Artillery Gun System

The Ministry of Defence received a proposal from the Indian Army to buy 310 Advanced Towed Artillery Gun Systems (ATAGS) for deployment along the borders with China and Pakistan, marking a significant step towards ‘Make-in-India’ in the defense sector.

The Indian Army has submitted a proposal worth more than USD 1 billion, which is currently being discussed.

This would be the first order for the indigenous howitzer, which can strike targets at distances of up to 50 kilometers and is thought to be the best gun in its class.

The forces have been testing the gun at various altitudes and terrain. They have been upgraded based on user suggestions.

Economy News

10. 1,49,577 Crore gross GST revenue collected in February 2023

The gross goods and service tax (GST) revenue collection in the month of February 2023 stood at Rs 1,49,577 crore, up around 12% on an annual basis.

With this, the monthly GST revenues remained over Rs 1.4 lakh crore for 12 straight months in a row, the Finance Ministry said in a statement. India’s GST revenue in February 2022 was Rs 1,33,026 crore.

Of the total revenue collected, CGST is Rs 27,662 crore, SGST is Rs 34,915 crore, IGST is Rs 75,069 crore (including ₹35,689 crore collected on import of goods) while cess is Rs 11,931 crore (including Rs 792 crore collected on import of goods).

Banking News

11. RBI’s new pilot project on coin vending machines

Recently, RBI Governor Shaktikanta Das had stated during the most recent Monetary Policy Committee (MPC) address that the apex banking regulator, in collaboration with banks, would launch a pilot project to evaluate the operation of a QR-code based coin vending machine. 

The vending machines would dispense coins, with the appropriate amount debited from the customer’s account via the United Payments Interface (UPI), instead of physically tendering banknotes.

Customers would be able to withdraw coins in the desired quantities and denominations.

The central concept here is to make coins more accessible.

12. HDFC Bank, IRCTC launch India’s most rewarding co-branded travel credit card

Indian Railway Catering and Tourism Corp Ltd (IRCTC) and HDFC Bank, announced the launch of a co-branded travel credit card. Known as the IRCTC HDFC Bank Credit Card, the newly launched co-branded card is available exclusively on NPCI’s Rupay network.

The card will provide exclusive benefits and maximum savings on bookings of train tickets booked through the IRCTC’s ticketing website and through IRCTC Rail Connect app.

The IRCTC HDFC Bank Credit Card will enable us to offer our card to millions of Indians across the country. Additionally, IRCTC HDFC Bank Credit cardholders will enjoy an attractive joining bonus, discounts on bookings and access to the several executive lounges at railway stations across the country.

13. Axis Bank completes deal to buy Citibank’s India consumer business

Axis Bank completed the acquisition of Citibank’s consumer business. The deal, which was announced in March 2022, will see India’s third-largest private sector bank absorbing Citibank’s consumer businesses, covering loans, credit cards, wealth management and retail banking operations in India.

The deal happened after Citigroup in 2021 announced its decision to shutter its retail banking operations in 13 countries, including India, as part of a global business strategy. Axis Bank put out a video advertisement to welcome Citibank’s 30 lakh plus customers on March 1.

Important Days News

14. Controller General of Accounts celebrates 47th Civil Accounts Day

The Civil Accounts Day was celebrated on 1st March to mark the 47th foundation day of Indian Civil Accounts Service (ICAS).

The Indian Civil Accounts Service was constituted in 1976, after the the maintenance of Accounts of the Union government was separated from that of Audit. Consequently, the Comptroller and Auditor General of India was divested with this responsibility.

Two Ordinances, the Comptroller and Auditor General’s (Duties, Powers and Conditions of Service) Amendment Ordinance, 1976 and Departmentalisation of Union Accounts (Transfer of Personnel) Ordinance, 1976 were promulgated by the President on 1st of March 1976 to initiate the process of separation of accounts from audit and paving the way for departmentalised accounts. Consequently, every year on 1st of March, organization celebrates its foundation day.

Summits and Conferences

15. PM Modi To Inaugurate 3-Day Raisina Dialogue in New DelhiThe eighth edition of the annual

Raisina Dialogue, the flagship conference on geopolitics and geo-strategy, begins in New Delhi. The annual Raisina Dialogue will be inaugurated by Prime Minister Narendra Modi.

The Foreign Ministry is organizing the event in collaboration with the Observer Research Foundation from 2nd March to 4th March 2023.

Italian Prime Minister Giorgia Meloni will be the chief guest and keynote speaker at its inaugural session.

Awards News

16. India Wins GSMA Government Leadership Award 2023

Groupe Speciale Mobile Association (GSMA) has conferred Government Leadership Award 2023 to India for implementing best practices in telecom policy and regulation.

GSMA, which represents more than 750 mobile operators and 400 companies in the telecom ecosystem, recognizes one country every year.

India was declared winner in the ceremony held at Mobile World Congress Barcelona.

Miscellaneous News

17. Two Australian Universities to set up Campuses in Gujarat’s GIFT City

Union Education Minister Dharmendra Pradhan announced that two Australian universities Wollongong and Deakin are set to establish campuses in Gujarat’s ‘GIFT City’.

The two universities will sign an agreement on setting up their campuses during Australian Prime Minister Anthony Albanese’s maiden visit to India next week