Current Affairs Quiz - January, 2024

Notes:
China’s President Xi Jinping, in a New Year speech, declared that China’s “reunification” with Taiwan is inevitable. Beijing asserts that Taiwan is its “sacred territory.” While Xi did not mention military threats in his speech, China has not ruled out the use of force to bring Taiwan under its control. Xi emphasized the importance of reunification and called for a common sense of purpose among “compatriots on both sides of the Taiwan Strait.” This underscores China’s territorial claim over Taiwan.

Notes:
Dr. Arvind Panagariya has been appointed as the new Chairman of the Finance Commission of India. The Finance Commission is a constitutional body that gives recommendations on center-state financial relations. Dr. Panagariya is an eminent economist who has served as the first Vice Chairman of NITI Aayog. He will now head the 16th Finance Commission, which will suggest the tax devolution formula between the centre and states for 5 years starting 2026-27. The appointment comes after the President established a new Finance Commission through a notification dated December 31, 2023.

Notes:
As India pursues food self-sufficiency, an analysis shows reliance on importing vegetable oils, pulses and dried fruits persist due to domestic supply limitations. For 2023, these three categories dominate agriculture imports, contributing 72.1% of the total import bill as per commerce ministry data. Palm oils alone account for 51.9 percent due to poor oilseed yields constraining India’s progress in edible oil security.

Notes:
Indian Oil Corporation Ltd (IOCL) has commissioned the Asanur Pipeline Terminal in Tamil Nadu to cater to the growing energy demand in the state. Built at a cost of ₹456 crore, it will serve 8 districts in Tamil Nadu and Puducherry by transporting petroleum products through a pipeline network. It will reduce pressure on existing terminals in Chennai.

Notes:
Jammu & Kashmir has become the first Union Territory to roll out the PM Vishwakarma Yojana skill training program for craftsmen and artisans. 30 trainees have enrolled in the first batch focused on tailoring and dress design at the ITI center in Shopian. Implementation aims to foster local businesses and self-employment.

Notes:
In 2024, the Government of India is actively running Performance Linked Incentive (PLI) schemes across 14 different sectors. These schemes, part of India’s larger strategy for self-reliance and industrial growth, aim to boost manufacturing and exports in key areas. The sectors covered under these PLI schemes are diverse, including Mobile Manufacturing and Specified Electronic Components, Critical Key Starting Materials, Drug Intermediaries and Active Pharmaceutical Ingredients, Speciality Steel, Automobiles, and Auto Components, among others. The focus of these schemes is not just to enhance domestic production capabilities but also to position India as a key player in the global supply chain.

Notes:
The U.N.’s World Economic Situation and Prospects 2024 report forecasts that South Asia will experience significant GDP growth in 2024. It projects that the GDP in this region will increase by 5.2%, driven largely by the robust expansion in India, which remains the fastest-growing large economy in the world. India’s growth is forecast to reach 6.2% this year. This prediction places South Asia ahead of other regions like the European Union, East Asia, and Western Asia in terms of economic growth for the year 2024, reflecting the dynamic economic activities and development in the region.

Notes:
Mukhtar Babayev, Azerbaijan’s Minister for Ecology and Natural Resources, has been named as the president-designate for the 29th session of the Conference of the Parties (COP29). Babayev, who previously worked as an executive at the State Oil Company of the Azerbaijan Republic (SOCAR), will lead the global climate talks at COP29. His appointment follows the precedent set by Sultan al-Jaber, chief of the Abu Dhabi National Oil Company (ADNOC), who presided over the previous year’s COP28. This decision has been a point of interest given Babayev’s ties to the oil industry and the ongoing discussions about transitioning away from fossil fuels in global energy systems. The role of the president-designate is crucial in steering the conversations and outcomes of the conference, especially in light of the critical environmental challenges faced globally.

Notes:
The primary objective of the Memorandum of Understanding (MoU) signed between India and the United States Agency for International Development (USAID)/India for the Indian Railways is to achieve net-zero carbon emission by 2030. This MoU is focused on enabling the Indian Railways to adopt advanced energy solutions and systems, utility modernization, and regional energy and market integration. It also includes provisions for private sector participation, training, and workshops on renewable energy and energy efficiency.

Notes:
Peregrine Mission – 1 marks a significant milestone in lunar exploration as it is the first US spacecraft to land on the moon’s surface since the historic Apollo 17 mission in 1972. Recently Peregrine Mission – 1 was launched by the American company Astrobotic aboard the Vulcan Centaur rocket from Cape Canaveral in Florida. The spacecraft carries a unique payload, including the DNA of well-known former US Presidents such as John F. Kennedy and iconic figures from Star Trek. The mission’s scientific objectives include studying the moon’s thin atmosphere and water molecule movements. The scheduled landing date for Peregrine Mission – 1 is February 23.