Business, Economy & Banking Current Affairs MCQs

Notes:
According to a UNCTAD report, foreign direct investment (FDI) to India dropped by 43% in 2023, falling from $49 billion in 2022 to $28 billion. Globally, FDI declined by 2%. India, China, France, Australia, and the USA saw reduced FDI inflows. India’s global FDI recipient rank fell from 8th to 15th in 2023 but remained in the top five for attracting greenfield projects and international project finance deals.

Notes:
Intensive animal agriculture, or factory farming, raises livestock and poultry in dense facilities to boost dairy output cost-effectively. Concerns include antibiotic resistance in 53% of Indian egg samples, zoonotic diseases originating from animals (60% known, 75% emerging), and significant environmental impact (14.5%-16.5% of global greenhouse gases). Diets rich in animal products also heighten risks of cardiovascular disease, cancer, and diabetes.

Notes:
The Ministry of New and Renewable Energy issued guidelines for funding under the National Green Hydrogen Mission, approved by the Union Cabinet on January 4, 2023. The mission aims to make India a global hub for producing, utilizing, and exporting green hydrogen. Key components include financial incentives for domestic electrolyser manufacturing and green hydrogen production, pilot projects, development of Green Hydrogen Hubs, the Strategic Hydrogen Innovation Partnership (SHIP) for R&D, and a coordinated skill development program.

Notes:
Recent volatility in the Stablecoin market, including the collapse of TerraUSD, has raised concerns about their stability and reliability. Stablecoins are cryptocurrencies pegged to assets like fiat currency or commodities (e.g., gold) to maintain a stable price. They offer an alternative to the high volatility of popular cryptocurrencies, making them potentially more suitable for everyday transactions.

Notes:
Bajaj Auto launched the world’s first CNG-powered two-wheeler, the Freedom 125, in Pune. Priced at around Rs 95,000, this entry-level vehicle aims to revolutionize the motorcycle market. CEO Rajiv Bajaj highlighted its freedom from petrol reliance. Key features include telescopic front forks, mono-link suspension, front disc and rear drum brakes, and a 125cc engine.

Notes:
India’s “e-mobility R&D Roadmap” launched by the Principal Scientific Adviser aims to achieve global leadership in electric vehicles (EVs) within five years. It identifies key areas like Energy Storage Cells, EV Aggregates, Materials and Recycling, and Charging and Refueling for intensive research. India targets a 45% reduction in emission intensity by 2030, energy independence by 2047, and net-zero emissions by 2070, emphasizing EV adoption, indigenous energy storage, and renewable energy for charging infrastructure.

Notes:
The Gevra and Kusmunda blocks of South Eastern Coalfields Ltd (SECL) in Chhattisgarh rank second and fourth globally in coal production, as per WorldAtlas.com. These open-cast mines produce over 100 million tonnes annually, about 10% of India’s total coal output. Gevra produced 59 MT in 2023-24, while Kusmunda produced over 50 MT. SECL’s Chairman, Prem Sagar Mishra, highlighted this achievement. US and China mines also feature in the top five.

Notes:
The Union Minister of Coal and Mines launched the Mineral Exploration Hackathon and the National District Mineral Foundation (DMF) Portal in Hyderabad. This centralized platform provides data on 645 DMFs, enhancing transparency and tracking developments. DMFs, non-profit trusts established under the MMDR Amendment Act 2015, aim to benefit mining-affected areas. Funded by contributions from mineral concession holders, the portal offers centralized visibility, project oversight, dynamic analytics, and best practices for effective implementation.

Notes:
The Union Budget 2024-25 proposes creating twelve industrial parks under the National Industrial Corridor Development Programme. The government will develop investment-ready industrial parks in or near 100 cities, partnering with states and the private sector. Industrial parks, like Andhra Pradesh’s Sri City SEZ, foster employment, shared infrastructure, enhanced productivity, and attract Foreign Direct Investment, expanding manufacturing activity.

Notes:
In the Union Budget 2024-25, the Khelo India initiative received ₹900 crore, a ₹20 crore increase from the previous year’s allocation of ₹880 crore. Khelo India, focused on grassroots sports development, continues to be a top priority for the government. Launched in 2018, it has expanded to include Khelo India University Games, Winter Games, and Para Games. Numerous State Centres of Excellence have been established to support young athletes.