ALL EXAM QUIZ 27.12.2024

Explanation:

• The foundation stone of the Ken-Betwa River link project laid by PM Modi on December 25.
• The foundation stone of the Ken-Betwa River linking project, the first initiative under the national river interlinking policy, laid by PM Narendra Modi at Khajuraho in Madhya Pradesh.
• On December 25, PM Modi came to Khajuraho in Chhatarpur district to lay the foundation stone of the project.
• Under this project, drinking water will be provided to about 44 lakh people in 10 districts of Madhya Pradesh and 21 lakh people in Uttar Pradesh, which is estimated to cost Rs 44,605 crore.
• Under this project, around 7.18 lakh farmer families of 2,000 villages will be benefited, which will also generate 103 MW hydropower and 27 MW solar power.
• The Ken-Betwa Link Project is a unique example of cooperation and coordination between the Central Government, Madhya Pradesh, and Uttar Pradesh.
• The project will construct a 77-meter-high and 2.13-kilometer-long Daudhan Dam, along with two tunnels (upper level 1.9 kilometers and lower level 1.1 kilometers), on the Ken River in Panna Tiger Reserve.
• The dam will store 2,853 million cubic meters of water.
• The excess water of the Ken River will be transferred to the Betwa River through a 221 km-long link canal from Daudhan Dam, providing irrigation and drinking water facilities in both states.

Explanation:

• 27th SIES Sri Chandrasekarendra Saraswati National Eminence Award presented to Jaishankar for leadership.
• The South Indian Education Society (SIES) awarded External Affairs Minister S. Jaishankar the Sri Chandrasekarendra Saraswathi National Eminence Award for Public Leadership.
• The awards are named after the late Sri Chandrasekharendra Saraswati, the 68th seer of the Kanchi Kamakoti Peetham.
• He led the spiritual awakening at a critical juncture of contemporary history.
• The awards are given in four areas: public leadership, community leadership, human endeavour, science and technology and social leadership, with priority given to spirituality.
• The award carries Rs. 2.5 lakh cash prize, a citation, an ornamental lamp, and a scroll.

Explanation:

• A $500 million loan was signed by the Government of India and Asian Development Bank (ADB) on 20th December 2024.
• This loan has been signed to support green and sustainable infrastructure projects aligned with India’s climate commitments.
• The ADB loan will be extended to the India Infrastructure Finance Company Limited (IIFCL).
• Ms. Juhi Mukherjee Joint Secretary, Department of Economic Affairs, Ministry of Finance, for the Government of India, and Country Director Mio Oka for ADB were the signatories to the Financing Environmentally Sustainable Growth in Infrastructure Project.
• IIFCL's institutional capacity to incorporate best practices and green practices into infrastructure projects will be strengthened by the project.
• To evaluate the sustainability rating of the projects, a sustainability unit, environmental sustainability framework, and scoring system will also be devised.

Explanation:

• Good Governance Day, or Sushasan Diwas, is observed every year on 25 December to mark the anniversary of former Prime Minister Atal Bihari Vajpayee.
• This year is commemorated as the 100th birth anniversary of former Prime Minister of India Atal Bihari Vajpayee.
• The centenary celebrations commenced with the inauguration of the Atal Swasthya Mela in Lucknow.
• Atal Smriti Sabhas will be held at different places. Schools and colleges will also hold poetry recitations and other events based on Vajpayee’s works.
• Good Governance Day was started by the Government of India in 2014.
• Atal Bihari Vajpayee was born on December 25, 1924, in Gwalior.
• He served as the Indian Prime Minister thrice - first in 1996 for a term of 13 days, then for 13 months between 1998 and 1999.
• Atal Bihari Vajpayee was honoured with the Bharat Ratna, the country's highest civilian honour, in 2015.

Explanation:

• Rashtraparv Website along with its Mobile App has been launched by Defence Secretary Rajesh Kumar Singh on Dec 25, 2024.
• The website will make it easier to get information on how national events like Independence Day, Republic Day, and Beating Retreat Ceremony are organised.
• The website will make it easier to watch live streaming, buy tickets, and get information on event seating and route maps, among other things.
• The Ministry of Defence has developed the Rashtraparv website and mobile app.
• A system for handling tableaux proposals and historical event data is also available on the Rashtraparv website and mobile app.
• To assist States/UTs, ministries, and departments in creating and completing their tableaus for the Republic Day celebration, the website will host a Tableau Management Portal.
• The Mobile App can be downloaded from Government App Store (M-Seva).

Explanation:

• Amitava Chatterjee’s appointment as MD and CEO has been approved by the board of Jammu and Kashmir (J&K) Bank.
• J&K Bank’s board has approved his appointment as managing director (MD) and chief executive officer (CEO) for three years effective from 30 December 2024.
• Amitava Chatterjee is presently deputy managing director, SBI. He has also served as MD&CEO of SBICAPS.
• Jammu & Kashmir Bank is a private sector scheduled commercial bank. It is headquartered in Srinagar, Jammu and Kashmir.

Explanation:

• Government to cut fiscal deficit to 4.5% in FY26.
• The Government will focus on improving quality spending and strengthening social security.
• The government will bring down the fiscal deficit to 4.5 per cent of the GDP in FY26.
• Finance Minister Nirmala Sitharaman will present the Budget for 2025-26 on 1 February.
• Under the Fiscal Responsibility and Budget Management Act, of 2003, the Union Government is committed to following the glide path of fiscal consolidation.
• Gross Tax Revenue (GTR) has been estimated ₹38.40 lakh crore with an implied tax-GDP ratio of 11.8 per cent.
• Total non-debt receipt of the Centre was estimated at about ₹32.07 lakh crore.
• The fiscal deficit was planned to be financed through G-securities and T-Bills and other sources.

Explanation:

• Union Cooperation Minister Amit Shah launched 10,000 new multi-purpose Primary Agricultural Cooperative Societies (PACS).
• The government will achieve its target of establishing 2 lakh such societies before the five-year timeline.
• The initiative will be rolled out in two phases. In the first phase, NABARD establishing 32,750 M-PACS.
• NDDB will set up 56,500 dairy cooperatives and NFDB 6,000 fishery cooperatives.
• In the second phase, NABARD will create 45,000 M-PACS, NDDB will establish 46,000 dairy cooperatives and NFDB 5,500 fishery cooperatives. State governments will form about 25,000 new cooperatives.
• Under current norms, a second PACS cannot be established in villages.

Explanation:

• India with an inflow of $129 billion emerged as the topmost recipient of remittances in 2024.
• India received the highest remittances in 2024, followed by Mexico, China, Philippines and Pakistan.
• The growth rate of remittances in 2024 is estimated to be 5.8 per cent as compared to 1.2 per cent registered in 2023.
• The remittances to low-and middle-income countries (LMICs) are expected to reach $685 billion in 2024.
• In the past decade, remittances increased by 57 per cent, while FDI declined by 41 per cent.
• The gap between remittances and Foreign Direct Investment (FDI) is likely to widen further in 2024.
• Remittance flows to South Asia are expected to register the highest increase in 2024.

Explanation:

• Aisake Valu Eke became the new Prime Minister of Tonga.
• ‘Aisake Valu Eke, former finance minister, will be the Prime Minister of Tonga till November 2025.
• He has been elected as a new leader by secret ballot in parliament.
• He was first elected to parliament in 2010 and served as minister of finance between 2014 and 2017.
• This South Pacific island nation of 105,000 people will hold its next election in November 2025.
• Siaosi Sovaleni was prime minister from 2021 and handed over his resignation just hours before facing a vote of no confidence led by Eke.
• Tonga had overhauled its constitution after pro-democracy protests in 2006.

Explanation:

• Former Prime Minister of India Dr. Manmohan Singh died on 26 December 2024 at the age of 92.
• According to media reports, he fainted on 26 December, after which he was brought to AIIMS. Here he breathed his last. In this article we will read about his entire life and achievements.

Dr. Manmohan Singh's Birth and Education

• Dr. Manmohan Singh was born on 26 September 1932 in a village named Gah in the Punjab province of British India (now in Pakistan). However, after the country became independent in 1947, his family settled in Amritsar.

Education

• Graduation: He graduated in Economics from Punjab University, Chandigarh.
• Postgraduate: After graduation, he did postgraduate in Economics from Punjab University.

Higher education

• In 1957, he completed Economics Tripos with top rank in Economics from Cambridge University.
• In 1962, he received PhD (DPhil) in Economics from Nuffield College, Oxford University. His research "India's Export Trends and Prospects for Self-Sustained Growth" became an important document on India's trade policy.

Early career was like this

• Before joining politics, Dr. Singh made a career as an economist and teacher. He worked as a professor of economics at Punjab University and Delhi School of Economics. Also, did extensive work on economic research and policies.
• After some time, he joined the United Nations Conference on Trade and Development (UNCTAD) and the World Bank. On his talent, he made an international identity in trade and development economics.

These services were given to the Government of India

• Chief Economic Advisor (1972-1976): Contributed to major economic decisions.
• Governor of the Reserve Bank of India (1982–1985): Played an important role in monetary policy.
• Deputy Chairman of the Planning Commission (1985–1987): He contributed to India's economic planning as the Deputy Chairman of the Planning Commission.

Entered politics during India's economic crisis

• Dr. Manmohan Singh entered Indian politics in the year 1991. This was the time when India was facing an economic crisis. In such a situation, the then Prime Minister P.V. Narasimha Rao appointed him as the Finance Minister. During this post, he took historic steps to improve India's economy.

This was his contribution as Finance Minister (1991–1996)

• Dr. Manmohan Singh implemented liberalization reforms to open India's economy to global markets. Also, he ended the license raj, privatized and reduced state control. Dr. Singh encouraged exports along with attracting foreign investment.

Prime Minister of India (2004–2014)

• Dr. Manmohan Singh has completed two consecutive terms as the 13th Prime Minister of India.

First term (2004–2009)

• During this time, he implemented the National Rural Employment Guarantee Act (NREGA). The Right to Information Act (RTI) also came during his tenure. Apart from this, he is also known for signing the historic India-US civil nuclear agreement.

Second term (2009–2014)

• In the second term, he focused on infrastructure development and social welfare schemes. However, during this time he also had to face controversies like the 2G spectrum scam and the Commonwealth Games scam.

Dr. Manmohan Singh's personal life

• Dr. Manmohan Singh's wife's name is Gursharan Kaur, who is also a housewife and singer. He has three daughters. We all know that he was also called the silent PM, although he broke his silence on this and also responded publicly.

Achievements and Honours

• Padma Vibhushan (1987): Awarded by the Government of India as the second highest civilian award of India. He has received honorary doctorates from several prestigious universities including Cambridge and Oxford.