Gujarat International Finance Tec-City – International Financial Services Centre (GIFT IFSC)

ECONOMY

The government recently approved public Indian firms’ direct listing of securities on GIFT IFSC international exchanges.

Background:-

• The Department of Economic Affairs (DEA), Ministry of Finance, has amended the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 and notified the “Direct Listing of Equity Shares of Companies Incorporated in India on International Exchanges Scheme” in response to the announcement made on July 28, 2023, by Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, to enable direct listing of Indian Companies at GIFT-IFSC exchanges in the first phase.

About:-

• The first international financial services hub in India, GIFT-IFSC links India to possibilities around the world.
• By offering the best quality of life, it hopes to draw the best talent in the nation.
• It facilitates the smooth and easy movement of international cash into India and connects the Indian economy to the global financial system.
• The International Financial Services Centres Authority (IFSCA), the unified statutory regulatory body, has made great strides in accelerating global sustainable capital flows by offering an adaptable and top-notch business and regulatory environment in GIFT IFSC. It aims to meet the dynamic development needs of GIFT IFSC.
• The goal of GIFT IFSC is to become India’s entry point for both incoming and outgoing requests for foreign financial services.

Benefits:-

• Because of the Central Government’s aggressive efforts to position the nation as a global center for financial services, both domestic and foreign businesses now favor GIFT City as their location.
• It is also profitable to invest in due to tax exemptions.
• Job creation will happen in vast quantities.

Swachh Survekshan 2023

GOVERNANCE

The Swachh Survekshan Awards 2023 were just made public.

Context:

Awards at the state, zonal, and national levels total twenty-four.

About Swachh Survekshan 2023:

• Ministry of Housing and Urban Affairs (MoHUA) is the host.
• In the categories of Clean Cities, Cleanest Cantonment, SafaiMitra Suraksha, Ganga Towns, and Best Performing State, felicitations were handed to thirteen recipients.
• This year, joint winners were featured in the cleanest city award.
• Along with Indore, who had held the top rank by themselves for six years running, Port City Surat took first place.
• The top three cities in the category of fewer than one lakh inhabitants were Sasvad, Patan, and Lonavala.
• The Cleanest Cantonment Board award went to the Mhow Cantonment Board in Madhya Pradesh.
• The two cleanest Ganga towns, Varanasi and Prayagraj, took first and second place respectively.
• In terms of Best Performing State, Maharashtra, Madhya Pradesh, and Chhattisgarh took first and second place.
• The winner of the Best Safaimitra Surakshit Sheher award went to Chandigarh.
• There were 110 awards given out at the ceremony.

About Swachh Survekshan:-

• MoHUA has been conducting Swachh Survekshan since 2016.
• This is the biggest urban sanitation and cleanliness survey in the world.
• It has been crucial in encouraging towns and cities to compete in a healthy way in order to provide better services to their residents and make their communities cleaner.
• Swachh Survekshan’s main objective is to promote widespread public participation and raise awareness among all societal segments of the value of cooperating to improve towns and cities as places to live.
• It is carried out under the auspices of the Urban Swachh Bharat Mission.

National Voters Day

The Prime Minister wished everyone a happy National Voters Day recently.

Background:-

• Greetings on National Voters Day, a day to honor our thriving democracy and to encourage people to register to vote if they haven’t already, wrote the Prime Minister on X.

About National Voters Day:-

• On January 25, India observes National Voters Day annually.
• The aim is to motivate all voters nationwide to engage in the political process.
• In 2011, the nation observed National Voters Day for the first time.
• Motivating more youth to engage in the political process was the primary goal of this.
• In 2023, “Making Elections Inclusive, Accessible, and Participatory” is the subject for National Voters Day.

Significance:-

• The primary importance of the voting system is in its ability to empower citizens to choose representatives for local, regional, and national governance.
• This implies that the people are also in charge of choosing the political party, philosophy, or set of policies that will determine the course of the country.

Kuno National Park

In the Kuno National Park in Madhya Pradesh, Namibian cheetah Jwala gave birth to four cubs recently, not the three that had been previously announced.

Background:-

• On January 24, 2024, Union Environment Minister Bhupender Yadav made this statement.

About Kuno National Park:-

• Location: India’s Madhya Pradesh.
• It was created as a wildlife sanctuary in 1981.
• It is a component of the ecoregion of dry deciduous woods Khathiar-Gir.
• It gets its name from the Kuno River, which crosses it and is one of the Chambal River’s principal tributaries.
• It was first created as a wildlife refuge, and the government didn’t alter its designation to a national park until 2018.
• The “Action Plan for Introduction of Cheetah in India” included Kuno National Park.
• Flora includes grasslands, tropical riverine forests, and dry savanna forests.
• Animal life: Bengal fox, Indian wolf, golden jackal, sloth bear, Indian leopard, jungle cat, and striped hyena.

Nayagarh Kanteimundi Brinjal

Kanteimundi Brinjal of Nayagarh recently received a GI Tag.

About:-

• Kanteimundi Nayagarh Thorny spines covering the entire plant and its stems are what make brinjal so infamous.
• In comparison to other genotypes, there are more seeds in the spherical, green fruits.
• It is well-known for having a distinct flavor and cooked quickly.
• The plants may be cultivated with little pesticide because they are resistant to large insects.
• In the state’s Nayagarh area, it is commonly grown.
• Up to 200 quintals can be produced per hectare by the producers, who then sell the produce for about Rs 60 per kilogram.
• According to historical accounts, the brinjal was brought to the area by the inhabitants from hilly regions.
• It was almost a century ago that they began gathering seeds from it and growing seedlings.

Kaushal Bhawan

Art and culture

Kaushal Bhawan was recently opened by Smt. Droupadi Murmu, the President of India.

Background:-

• On this occasion, the President engaged with the beneficiaries of the government’s various initiatives, including PM Vishwakarma, PM JANMAN, Pradhan Mantri Kaushal Vikas Yojana (PMKVY), and Skill Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP), by visiting their exhibition stalls and interacting with them.

About Kaushal Bhawan:-

• The place is in New Delhi.
• Kaushal Bhawan is the Ministry of Skill Development and Entrepreneurship’s recently constructed structure.
• In March 2019, the foundation stone was placed.
• The National Council for Vocational Education and Training, the National Skill Development Corporation, and the Directorate General of Training, three organizations connected to the Ministry, will have office space provided by it.
• This cutting-edge office building has the latest amenities and technology.
• It was constructed with the intention of bringing forth a new work culture and bolstering the Skill India Mission by offering a secure, practical, and effective work environment.