Current Affairs February 04th 2023| Current Affairs News

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CURRENT AFFAIRS : BANKING & FINANCE

Australia to remove British monarchy from new bank notes 

• Australia plans to drop the head of the British royal family from its five-dollar ($5 banknote in favour of a design that honours the culture of the country’s Indigenous people.
• The new note will replace the portrait of the late Queen Elizabeth II with a tribute to the First Australians, rather than an image of King Charles III.
• Earlier in Sep 2022, the government had already hinted shortly after the Queen’s death, that it wouldn’t use her son’s image on the new banknote.
• The decision followed a consultation with the Federal government.
• The other side of the note will continue to feature the Australian Parliament.
• Along with Canada, New Zealand and other former colonies of the British Empire, Australia still counts the monarch as its head of state.
• Charles IIIis King of the United Kingdom (UK) and the 14 other Commonwealth realms.

About Australia : 

• Prime Minister : Anthony Albanese
• Capital : Canberra
• Currency : Australian dollar ($)

New India Assurance (NIA) Launches ‘Pay As You Drive’ Vehicle Insurance PolicY           

• New India Assurance (NIA) has launched a ‘Pay as You Drive’ (PAYD) policy, which offers a comprehensive motor insurance policy that charges a premium based on the usage of the vehicle.
• The policy has two components – third-party cover and own-damage cover.

Key features:

• Discounts on renewals, coverage beyond distance limit, and enhanced protections such as nil depreciation, roadside help, return to invoice, etc.
• For instance, the customer can save money through discounts on renewal premiums, provided the vehicle runs within the specified kilometres.
• Recently, the Insurance Regulatory and Development Authority of India (IRDAI) has allowed insurance companies to launch telematics-based motor insurance covers, like PAYD and pay how you drive (PHYD), enabling vehicle owners to decide how much to spend on their car insurance.

About NIA : 

• Established : 1919 (nationalised in 1973)
• Headquarters : Mumbai, Maharashtra
• Chairman & Managing Director : Neeraj Kapur
• The NIA is a central public sector undertaking under the ownership of the Ministry of Finance, Government of India (GoI).
• It is largest nationalised general insurance company of India on the basis of gross premium collection inclusive of foreign operations”

BOB launches “Bank of Baroda Rashtrabhasha Samman”                            

• One of India’s premier public sector banks, Bank of Baroda (BoB), announced the establishment of the ‘Bank of Baroda Rashtrabhasha Samman’.
• The Bank launched this award to stimulate and promote literary works in Indian languages.
• The use of all Indian languages is crucial in a multilingual country like India since it adds to the nation’s diversity and rich legacy.

About ‘Bank of Baroda Rashtrabhasha Samman’ : 

• The ‘Bank of Baroda Rashtrabhasha Samman’ aspires to encourage mutual exchange among Indian languages and make the best Indian literature available to the entire audience in Hindi.
• The prize promotes literary translation in the country.
• This prize will be given to both the original author of the selected literary works and the translator who translated the book from the original regional language into Hindi.
• Every year, the original author and translator of the prize-winning book will receive Rs. 21.00 lakh and Rs. 15.00 lakh, respectively, under this award.

About BoB : 

• Established : 20 July 1908
• Headquarters : Vadodara, Gujarat, India
• MD & CEO : Sanjiv Chadha
• It is the second largest public sector bank in India after State Bank of India

Edelweiss Mutual Fund Introduces launches India’s first passive short-term index fund                                   

• Edelweiss Mutual Fund has launched India’s first open-ended passive short-duration index scheme, called Edelweiss CRISIL IBX 50:50 Gilt Plus SDL Short Duration Index Fund.

• The scheme will invest in a diversified portfolio of Indian Government Bonds (IGBs) and State Development Loans (SDLs).

About Edelweiss Mutual Fund : 

• Edelweiss Mutual Funds, managed by Edelweiss Asset Management Limited.
• Edelweiss Financial Services Ltd. is the parent company which is in control of the entire group of companies.
• Managing Director and Chief Executive Officer of Edelweiss AMC : Radhika Gupta

CURRENT AFFAIRS: NATIONAL NEWS

Govt nearly doubles allocation under FAME-2 subsidy scheme:

• Reinforcing its push towards green mobility, the government has nearly doubled its budgetary allocation for the FAME (faster adoption and manufacturing of electric vehicles) scheme to subsidise the purchase of electric vehicles.
• As per the budget document, the subsidy under the FAME scheme for fiscal 2024 is projected at Rs 5,172 crore, compared with the revised estimate of Rs 2,897 crore in the current fiscal year.
• This is the highest allocation under the scheme since its launch in 2020.
• The FAME-2 subsidy accounted for 85% of the total budget allocation for the ministry of heavy industries.
• This comes amid reports of alleged wrongful claims by various manufacturers and a government probe.
• With provision of subsidy spending of Rs 5,172 crore, the cumulative subsidy spending will reach Rs 9,687 crore between FY20 and FY24.
• So far, more than 750,000 vehicle units have been benefited by the FAME-2 scheme.

About FAME:

• The Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme was launched in April 2015 under the National Electric Mobility Mission, to encourage electric and hybrid vehicle purchases by providing financial support.

Allocation to schemes for boosting exports increased

• The Union Budget 2023-24 has increased the allocation for some key export-boosting schemes, at a time when tepid external demand from developed economies are weighing on outbound shipments from India.
• Allocation for the commerce department’s key Remission of Duties and Taxes on Export Products (RoDTEP) scheme has been increased by 10 per cent, from Rs 13,699 crore in 2022-23 to Rs 15,069 crore in the next financial year.
• Rebate of State and Central Taxes and Levies (RoSCTL) — a similar scheme for garments and made-ups — the total outgo from the Centre will be Rs 8,405 crore in 2023-24, up from Rs 7,461 crore.
• Both schemes aim to refund to exporters the embedded non-creditable central, state and local levies paid on inputs.
• These taxes were not refunded earlier.
• The allocation for the interest equalisation scheme has been hiked by nearly a fourth to Rs 2,932 crore in 2023-24 from Rs 2,376 crore in 2022-23.
• The scheme provides subsidies for pre- and post-shipment export credit and mostly covers labour-intensive sectors.
• Apex body for exporters Federation of Indian Export Organisations (FIEO) said the move will help support exports, particularly by MSMEs.
• The increase in allocation may result in increasing the subvention support as demanded by the exporters in view of rising interest rates.

About Federation of Indian Export Organisations

• Federation of Indian Export Organisations is the apex trade promotion organisation in India set up by the Ministry of Commerce, Government of India, and the private trade and industry segment in 1965.
• The organisation is responsible for representing and assisting Indian entrepreneurs and exporters in foreign markets.
• HQ: NEW DELHI

CURRENT AFFAIRS : INTERNATIONAL NEWS

India, US National Security Advisors launches US-India Initiative on Critical and Emerging Technologies 

•  National Security Advisor Ajit Doval and his US counterpart Jake Sullivan formally launched the United States (US)-India initiative on Critical and Emerging Technology (iCET) in Washington, US

Key Highlights : 

• iCET was announced during bilateral talks between Prime Minister (PM) Shri Narendra Modi and US President Mr Joe Biden in Tokyo in 2022 on the sidelines of the Quad Leaders Summit.
• Under iCET, the both countries have identified 6 areas of cooperation which would include scientific research and development; quantum and artificial intelligence, defense innovation, space, advanced telecom which would include things like 6G and semiconductors.

About NSA : 

• The NSA is the primary advisor to the PM of India.
• He also presides over the National Security Council (NSC).
• NSC operates within the executive office of the PM, liaising between the government’s executive branch and the intelligence services.

India & US agree to constitute task force to boost cooperation in semiconductor industry

• The US Semiconductor Industry Association (SIA) and India Electronics and Semiconductor Association (IESA) plan to strengthen public-private collaboration in the chip ecosystem by forming a private-sector task force.

Aim : 

• To develop a readiness assessment in order to identify near-term opportunities and help in the longer-term development of semiconductor ecosystems.
• NSA Ajit Doval co-chaired the inaugural meeting of the initiative on Critical and Emerging Technologies (iCET) with his US counterpart Jake Sullivan at the White House in Washington.

Key Highlights : 

• Both sides established a quantum coordination mechanism with participation from industry and academia.
• In the field of defence manufacturing, the two sides agreed to focus on joint production of key items of mutual interest.
• A new innovation Bridge will be established to connect defence startups on both sides.
• India and the US agreed to launch a public-private dialogue that will cover 5G and 6G and Open Radio Access Network (ORAN).

About US : 

• President : Joe Biden
• Capital : Washington, D.C
• Currency : U.S. dollar

India to be theme country at 2025 Madrid International Book Fair                                       

• The Ambassador of Spain to the country Jose Maria Ridao announced that India will be invited as the focal country at the Madrid International Book Fair in 2025.
• Spain is the theme country at the 46th International Kolkata Book Fair which will be held from 31st Jan, 2023 to 12th Feb, 2023.
• Jose Maria Ridao announced that a football dictionary of Spanish to Bengali will be launched at the Kolkata Book Fair, containing terms and phrases used in the Spanish league.
• Kolkata book fair has kicked off at Salt Lake.
• More than 950 stalls will be set up at the fair, which has been  inaugurated by Chief Minister Mamata Banerjee.
• Eminent Bengali writer Shirshendu Mukhopadhyay was felicitated at the inaugural ceremony.

CURRENT AFFAIRS : STATE NEWS

Haryana Vigilance Bureau renamed as Anti-Corruption Bureau

• The Haryana state vigilance bureau has been renamed as Anti-Corruption Bureau.
• The change in name was announced by Chief Minister Manohar Lal Khattar while chairing a meeting with the Deputy Inspectors General of Police (DIGs) and Superintendents of Police (SPs)
• In 2022, Haryana’s State Vigilance Bureau had registered 246 corruption cases, the highest annual figure in the past 10 years.
• In 2022, Khattar had approved various initiatives of the bureau, including the setting up of a revolving fund to provide “trap money” to people lodging complaints against government officials who demand bribes.

About State Vigilance Bureau : 

• The State Vigilance Bureau is the main investigative unit of the Vigilance Department.
• The main investigating wing was started in June, 1967, when the Govt. set up a Special Inquiry Agency (SIA) for enquiring into corruption related complaints referred to it by the Vigilance Department.

About Haryana : 

• Governor : Bandaru Dattatreya
• Chief Minister : Manohar Lal Khattar
• National Park : Kalesar National Park, Sultanpur National Park
• Wildlife Sanctuaries : Kalesar Wildlife Sanctuary, Chhilchhila Wildlife Sanctuary
• Festivals : Lohri

1st G20 Education working group meeting starts in Chennai

• Chennai,Tamil Nadu (TN)  is all set to host the first G20 (Group of Twenty) Education Working Group (EWG) meeting held at the Indian Institute of Technology (IIT) Madras Research Park.
• The Minister of State for Information and Broadcasting, Dr. L. Murugan inaugurated the session.
• As part of the summit, IIT Madras will organise the ‘Role of Digital Technology in Education’ – a unique initiative under India’s Presidency.

Aim : 

• To identify policies for effective use of digital technology in education in the G20 member countries

Key Highlights : 

• During the two days of deliberations, the EWG will focus on areas to ensure inclusive, equitable, relevant and quality education and lifelong learning opportunities for all, within the theme of “One Earth, One Family, One Future”.
• 4 key issues have been identified for deliberation in the G20 EWG meet.
• This includes ensuring foundational literacy and numeracy, especially in the context of blended learning, making tech-enabled learning more inclusive, qualitative and collaborative at every level, building capacities, promoting life-long learning in the
• context of the future of work and strengthening research, and promoting innovation.

Uttar Pradesh CM Adityanath launches Aarohini training programme for girls                         

• Chief Minister (CM) of Uttar Pradesh (UP) Yogi Adityanath has launched the ‘Aarohini Initiative Training Programme’ for the safety and security of girls in all 746 Kasturba Gandhi Balika Vidyalayas (KGBV) in UP.
• The training will start in Lucknow.
• The campaign is being started to make the daughters of the underprivileged section capable and self-reliant.

Aim : 

• To enable the girls to raise their voice for their rights.

About ‘Aarohini Initiative Training Programme’ : 

• The Aarohini Initiative, founded in 2011, is a girls’ empowerment and education program rooted firmly in the philosophy that girls and boys must receive an education.
• Training will be provided to full-time teachers of Kasturba Gandhi Schools.
• The Programme will be implemented in three phases, is gender sensitization.
• In the first phase teachers will be trained.
• After receiving training, two teachers of every Kasturba Gandhi School will educate girl students.
• In the third phase, the campaign will be run at community level.

About UP : 

• Governor : Anandiben Patel
• Chief Minister : Yogi Adityanath
• Capital : Lucknow
• National Park : Dudhwa National Park
• Wildlife Sanctuaries : Pilibhit Wildlife Sanctuary, Sohagi Barwa Wildlife Sanctuary, Kishanpur Wildlife Sanctuary

Uttarakhand – Construction of “Bajrang Setu” to be completed by July 2023

• Uttarakhand, Asia’s second and country’s first cable suspension bridge “Bajrang Setu” is being constructed at Rishikesh.
• The construction of the new bridge would cost Rs 67 crores and all efforts are made to complete it by July 2023.
• This bridge is coming up next to the famous 90-year-old Laxman Jhula.
• Laxman Jhula has been closed since 2022 when it was found that it wasn’t safe for pedestrians anymore & however, it will not be removed and will be preserved as a heritage.

Note : 

• India’s first-ever cable-stayed rail bridge : Anji Bridge

About Uttarakhand : 

• Governor : Gurmit Singh
• Chief Minister : Pushkar Singh Dhami
• Famous Mountains : Nanda Devi (India’s 2nd Highest Mountain after Kangchenjunga)

Proposal to rename Etawah as Mulayam Nagar in memory of Samajwadi Party founder Mulayam Singh           

• A proposal was made at the District Panchayat Board meeting in Etawah to change the name of Etawah district to Mulayam Nagar in the memory of the Samajwadi Party (SP) founder and former Uttar Pradesh (UP) Chief Minister Mr Mulayam Singh. 

About Mr. Mulayam Singh :

• He is the founder of the SP, who died in 2022 was a tall socialist leader from Uttar Pradesh.
• In his political inning spanning roughly six decades, he served as the Chief Minister of Uttar Pradesh 3-times, and also went on to become the Minister of Defence in the Central government.
• The SP leader was a 7-time Lok Sabha member, a 10-time member of the UP legislature and also served as the Leader of Opposition in Legislative Assembly and Council.
• Recently, the Union government announced that the Padma Vibhushan (posthumously) would be conferred to the SP founder.

CURRENT AFFAIRS: BUSINESS NEWS

Vodafone Idea Board Again Approves Issue Of Rs 1,600 Crore Bond To ATC

• The Vodafone Idea board, for the second time, approved a proposal to settle Rs 1,600-crore dues with telecom tower firm ATC Telecom Infrastructure through the issuance of equity convertible debt bonds.
• However, this time the board has not said the optionally convertible debentures (OCDs) would be subject to the government having converted the interest from deferment of adjusted gross revenue (AGR) and spectrum dues owed by the company.
• It was because of this particular condition by the board in October 2022 that the proposal had lapsed on December 6, 2022.
• The government has till date not converted the accrued interest of Rs 16,000 crore due to the four-year deferment of AGR and spectrum dues into equity.
• This means that this time around, the company will only need the approval of its shareholders for the proposal to sail through.
• If the government was to convert the Rs 16,000 crore accrued interest into equity, it will end up having around 33% stake in the company, while the promoters’ holding will come down from 74.99% to 50%.
• However, the government has clearly indicated that the equity conversion will happen only after the promoters have infused money into the company.
• Vodafone Idea owes about Rs 3,000 crore to ATC.
• In November, the company had first received approval from its shareholders for the issue.
• The amount, if unpaid in 18 months, would also give ATC an option to convert the dues into equity at a price of Rs 10 per share.

About Vodafone Idea:

• Parent organizations: Vodafone Group, Aditya Birla Group
• CEO: Akshaya Moondra
• Founded: 31 August 2018

REITs and InvITs may need to review income distribution modes as the Budget widens tax bracket:

• The business trusts including Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) will need to review mode of their income distribution to unitholders as the Union Budget for 2023-24 has proposed to tax such distribution through repayment of debt.
• The budget has proposed the distribution in the form of repayment of debt, taxable as other income, in the hands of unitholders.
• Distribution of income as dividend by these trusts continues to be exempted from taxation to unitholders.
• As per the Securities & Exchange Board of India’s regulations, both REITs and InvITs are required to distribute their cash surplus up to certain limits on a quarterly basis.
• These distributions generally consist of interest, dividend, or repayment of debt.
• From the next financial year starting from April 1, all distributions by REITs and InvITs representing repayment of debt are taxable as “other income” in the hands of the unit holders.
• Mindspace Business Parks REIT approved distribution of Rs 284.6 crore for the quarter ended December.
• Dividend, which is tax-exempt in the hand of unitholders, formed 91% of this while interest constituted 9%.
• Embassy REIT has announced a distribution of Rs 503 crore that included 45% of amortisation of SPV debt.

About REIT & InvIT:

• Real Estate Investment Trust (REIT)/ Infrastructure Investment Trust (InvIT) is a tax-efficient entity that owns a portfolio of income-generating real estate/infrastructure assets.
• These trusts, like mutual funds, issue units against assets held.
• Trust is created by a sponsor, who transfers ownership of assets

Sugar production up 3.42 % at 19.35 million tonnes in Oct-Jan of 2022-23: ISMA

• The country’s sugar production rose 3.42 per cent to 19.35 million tonnes in the first four months of the ongoing marketing year ending September, on rise in output in key producing states, industry body ISMA.
• Sugar production stood at 18.71 million tonnes during the October-January period of the previous marketing year.
• Sugar marketing year runs from October to September.
• India is a major sugar producing country in the world.
• Total sugar production, after diversion for ethanol manufacturing, has increased to 19.35 million tonnes till January of the current marketing year from 18.71 million tonnes in the year-ago period.
• Sugar production in Maharashtra, the country’s leading producing state of the sweetener, rose to 73.8 lakh tonnes during October-January of the ongoing marketing year from 72.9 lakh tonnes in the year-ago.
• Production in Uttar Pradesh, the country’s second-largest producing state, rose marginally to 51 lakh tonnes as against 50.3 lakh tonnes, while in Karnataka — the country’s third largest producing state, the output rose to 39.4 lakh tonnes as against 38.8 lakh tonnes.
• Production in other states also remained higher at 29.3 lakh tonnes during the October-January period of the 2022-23 marketing year, as against 25.1 lakh tonnes in the year-ago period.

CURRENT AFFAIRS: AWARDS AND HONOURS

The Hindu Group bags four WAN-IFRA Digital Media South Asia Awards 2022

• The Hindu Group has bagged four awards at the WAN-IFRA Digital Media South Asia Awards 2022 for its various products and services.
• TH Newsletters won silver in Best Digital Subscription initiative and The Hindu e-paper bagged gold in Best ePaper concept.
• In the Best Use of Short Form Video category, Trending and Current Affairs, The Hindu won gold award.
• Moreover, ‘Coimbatore Unlimited- Collaborate, Co-create and Celebrate,’ an event that hosted curated series of panel discussions on Coimbatore won silver award in the Best Native Advertising/Sponsored Content Campaign category.
• World Association of News Publishers (WAN-IFRA) recognises outstanding digital media projects delivered by south Asian news publishers.
• About 100 entries were received across south Asia for the awards. This was the sixth edition of digital media awards for south Asia.
• The Quint, The Hindu, Prothom Alo and TheIndian Express emerged as the award winners.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Equatorial Guinea appoints Ms Manuela Roka Botey as first female PM                                        

• Equatorial Guinea’s President Mr Teodoro Obiang Nguema appointed Ms Manuela Roka Botey, as Prime Minister (PM), of Equatorial Guinea.
• She is the first woman to hold the position in the country.
• She succeeded former Prime Minister Mr Francisco Pascual Obama Asue, who has held the position since 2016.
• Mr Teodoro Obiang has served as the President of Equatorial Guinea since August 1979.

About Manuela Roka Botey : 

• She served as the Vice-Dean of the Faculty of Letters and Social Sciences at the National University of Equatorial Guinea.
• Prior to the appointment as PM, she had been the Minister for National Education, University Education and Sports since August 2020.

Note : 

• Equatorial Guinea has had only two presidents since independence from Spain in 1968 (1st president – Francisco Macías Nguema & 2nd President – Teodoro Obiang Nguema Mbasogo)

About Equatorial Guinea : 

• President : Teodoro Obiang Nguema Mbasogo
• Capital : Malabo
• Currency : Central African CFA franc
• It is located on the west coast of Africa.

CURRENT AFFAIRS : DEFENCE NEWS

Indian Army organises integrated exercise Trishakti Prahar in North Bengal                                 

• The Indian military concluded exercise Trishakti Prahar – 10-day joint training exercise in the strategically vital Siliguri corridor, in North Bengal.

Aim : 

• To practise battle preparedness of using the latest weapons and equipment in a networked environment, involving all arms and services of the Indian Army, the Indian Air Force (IAF) and central armed police forces (CAPF).
• The fire power exercise was reviewed by Lt Gen R P Kalita, Army Commander, Eastern Command.

About the exercise : 

• As a part of the exercise, swift mobilisation and deployment practices were carried out in various locations across north Bengal.
• To ensure efficient movement and quick mobilisation, all agencies, including the civil administration, civil defence organisations, police and CAPFs, were coordinated.
• The exercise also witnessed participation of newly-inducted weapons and equipment made in India as a part of ‘Atmanirbhar Bharat Abhiyan.

About Indian Army : 

• Headquarters : New Delhi, Delhi
• Chief of the Air Staff : Air Chief Marshal Vivek Ram Chaudhari

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

DRDO develops unfurlable antenna for space radar                          

• Electronics and Radar Development Establishment (LRDE), a Bengaluru, Karnataka lab of the Defence Research and Development Organisation (DRDO), has developed an UnFurlable Reflector Antenna (UFRA), major subsystem for a space radar,
• The UFRA holds significant potential in the Indian Space Research Organisation (ISRO), & also in the military.

About UFRA : 

• LRDE has developed the UFRA system which consists of a rim truss-based deployable mechanism, primary arm, reflector mesh, tension ties, nets, and motor.
• A cable is routed through the diagonal members of the rim truss elements,” adding that one end of the cable is fixed and the other end is pulled by a motor.
• LRDE, has been involved in the development of space-borne imaging radar mainly consisting of electronic radar subsystems and antenna deployment mechanisms for installation on satellites

About LRDE : 

• Headquarters : Bengaluru, Karnataka, India
• Director : Bengaluru, Karnataka, IndiaShri. P Radhakrishna
• Founder : S. P. Chakravarti (father of Electronics and Telecommunication engineering in India)
• LRDE is a DRDO lab with a mission to design and develop state-of-the-art radar systems meeting current and futuristic requirements of the tri-services, paramilitary forces, intelligence and strategic missions.
• To distinguish between “Electrical” and “Electronic”, the latter is abbreviated with the first letter of its Latin root (lektra).

CURRENT AFFAIRS: IMPORTANT DAYS

World Cancer Day- 4^th February 2023

• World Cancer Day is an international day marked on 4 February to raise awareness of cancer and to encourage its prevention, detection, and treatment.
• The multi-year theme for World Cancer Day 2022-2024 is ‘Close the Care Gap.
• So, in order to address cancer-related issues, World Cancer Day is observed on February 4.
• The day aims to get various stakeholders like the government, healthcare professionals, and the general public to work on the single goal of reducing cancer at a global level.
• ‘It focuses more on exposure, engagement, and opportunities to meet the global awareness of Cancer Day
• World Cancer Day is led by the Union for International Cancer Control to support the goals of the World Cancer Declaration, written in 2008.
• The day first began in the year 2000 at the World Summit Against Cancer for the New Millennium in Paris.
• The Union for International Cancer Control (UICC) is an organisation that works to create awareness among people to detect cancer at an early stage.

About UICC:

• The Union for International Cancer Control or UICC is a non-governmental organisation with some 1,180 member organisations in more than 170 countries.
• Headquarters: Geneva, Switzerland
• Founded: 1933
• President: Professor Anil D’Cruz, India

Daily CA on February 4:

• Reinforcing its push towards green mobility, the government has nearly doubled its budgetary allocation for the FAME (faster adoption and manufacturing of electric vehicles) scheme to subsidise the purchase of electric vehicles.
• The Union Budget 2023-24 has increased the allocation for some key export-boosting schemes, at a time when tepid external demand from developed economies are weighing on outbound shipments from India.
• The Vodafone Idea board, for the second time, approved a proposal to settle Rs 1,600-crore dues with telecom tower firm ATC Telecom Infrastructure through the issuance of equity convertible debt bonds.
• The business trusts including Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) will need to review mode of their income distribution to unitholders as the Union Budget for 2023-24 has proposed to tax such distribution through repayment of debt.
• The country’s sugar production rose 3.42 per cent to 19.35 million tonnes in the first four months of the ongoing marketing year ending September, on rise in output in key producing states, industry body ISMA
• The Hindu Group has bagged four awards at the WAN-IFRA Digital Media South Asia Awards 2022 for its various products and services
• World Cancer Day is an international day marked on 4 February to raise awareness of cancer and to encourage its prevention, detection, and treatment.
• Australia plans to drop the head of the British royal family from its five-dollar ($5 banknote in favour of a design that honours the culture of the country’s Indigenous people.
• New India Assurance (NIA) has launched a ‘Pay as You Drive’ (PAYD) policy, which offers a comprehensive motor insurance policy that charges a premium based on the usage of the vehicle.
• One of India’s premier public sector banks, Bank of Baroda (BoB), announced the establishment of the ‘Bank of Baroda Rashtrabhasha Samman’.
• Edelweiss Mutual Fund has launched India’s first open-ended passive short-duration index scheme, called Edelweiss CRISIL IBX 50:50 Gilt Plus SDL Short Duration Index Fund.
• National Security Advisor Ajit Doval and his US counterpart Jake Sullivan formally launched the United States (US)-India initiative on Critical and Emerging Technology (iCET) in Washington, US
• The US Semiconductor Industry Association (SIA) and India Electronics and Semiconductor Association (IESA) plan to strengthen public-private collaboration in the chip ecosystem by forming a private-sector task force.
• The Ambassador of Spain to the country Jose Maria Ridao announced that India will be invited as the focal country at the Madrid International Book Fair in 2025.
• The Haryana state vigilance bureau has been renamed as Anti-Corruption Bureau.
• Chennai,Tamil Nadu (TN) is all set to host the first G20 (Group of Twenty) Education Working Group (EWG) meeting held at the Indian Institute of Technology (IIT) Madras Research Park.
• Chief Minister (CM) of Uttar Pradesh (UP) Yogi Adityanath has launched the ‘Aarohini Initiative Training Programme’ for the safety and security of girls in all 746 Kasturba Gandhi Balika Vidyalayas (KGBV) in UP.
• Uttarakhand, Asia’s second and country’s first cable suspension bridge “Bajrang Setu” is being constructed at Rishikesh.
• A proposal was made at the District Panchayat Board meeting in Etawah to change the name of Etawah district to Mulayam Nagar in the memory of the Samajwadi Party (SP) founder and former Uttar Pradesh (UP) Chief Minister Mr Mulayam Singh. 
• Equatorial Guinea’s President Mr Teodoro Obiang Nguema appointed Ms Manuela Roka Botey, as Prime Minister (PM), of Equatorial Guinea.
• The Indian military concluded exercise Trishakti Prahar – 10-day joint training exercise in the strategically vital Siliguri corridor, in North Bengal.
• Electronics and Radar Development Establishment (LRDE), a Bengaluru, Karnataka lab of the Defence Research and Development Organisation (DRDO), has developed an UnFurlable Reflector Antenna (UFRA), major subsystem for a space radar,