India, Bhutan Approve 61 Projects Worth Rs. 4,958 crore
During the India-Bhutan Development Cooperation Talks in Thimphu, co-chaired by Indian Foreign Secretary Vikram Misri and his Bhutanese counterpart Pema Choden, both nations approved 61 development projects valued at Rs. 4,958 crore. This initiative is part of Bhutan's 13th five-year plan, for which India is providing a substantial development support of Rs. 10,000 crore.
The Bhutanese side presented the Project Tied Assistance (PTA) proposals as well as the first tranche of the PTA projects to be implemented during the 13th Five-Year Plan period.
US Secret Service Boss Resigns over Trump Shooting Failures
US Secret Service director Kim Cheatle resigned after security failures surrounding an assassination attempt on former President Donald Trump.
She had faced calls from both Democrats and Republicans to step down after a contentious congressional hearing about the shooting.
The President had appointed Ms. Cheatle to head the Secret Service, which oversees the protection of current and former presidents and other officials, in 2022. She had previously served 27 years at the agency in various roles.
Azerbaijan, hosting COP29 from November 11 to 22, 2024, announced the creation of a Climate Finance Action Fund (CFAF). This fund will be raised from fossil fuel producers to support green projects in developing countries and help member nations meet the 1.5°C temperature target. The CFAF aims to mobilise both public and private sectors, with Azerbaijan as the founding contributor. It plans to attract $1 billion and secure at least 10 contributing countries.
The fund will be headquartered in Baku, with an independent audit committee providing quarterly reports. A working group of international financial experts will help develop the fund's management and funding mechanisms.
India Ranks Third in Global Forest Area Gains
India gained 2,66,000 hectares of forest area annually from 2010 to 2020, securing the third spot among the top 10 countries with the most significant forest area gains during this period, according to a new report by the Food and Agriculture Organisation.
As per the report, China led the world with the maximum forest area gain of 19,37,000 hectares, followed by Australia with 4,46,000 hectares, and India. Other countries in the top 10 include Chile, Vietnam, Turkey, the United States, France, Italy and Romania.
The UN agency praised India for its efforts in restoring degraded lands and expanding agroforestry through innovative approaches. This includes the development of a new national policy aimed at better-supporting agroforestry in the country.
The Budget 2024-25 outlined a total expenditure of Rs. 48.21 lakh crore and receipts (excluding borrowings) of Rs. 32.07 lakh crore, with net tax receipts estimated at Rs. 25.83 lakh crore. The fiscal deficit is projected at 4.9% of GDP. Key initiatives under the "Viksit Bharat" theme include developing twelve industrial parks, providing internships for 1 crore youth in top companies, promoting rental housing with dormitory-type accommodations for industrial workers, and setting up Bharat Small Reactors for energy security. These efforts aim to boost economic opportunities, support youth employment, enhance housing, and secure clean energy sources.
The budget theme is 'Roadmap for the pursuit of 'Viksit Bharat'.
Focus on four major groups: Mahilayen (Women), Garib (Poor), Yuva (Youth) and Annadata (Farmer).
India Stuns China in Bangladesh, Wins Rights to Operate Terminal of Mongla Port
In a major strategic victory over China, India secured operational rights of a terminal of Bangladesh's Mongla Port in the Indian Ocean. The operational rights will give a major boost to India's maritime race to gain quasi-control of foreign ports, especially in its neighbourhood where China has sought to expand its influence.
As per media reports, the terminal at the Mongla port will be managed by Indian Port Global Limited (IPGL).
Govt. of India Upgrades IRCTC to 'Schedule A' CPSE
The Indian Railway Catering and Tourism Corporation (IRCTC), a Mini-Ratna PSU under the Ministry of Railways, achieved a notable milestone by advancing to the Schedule 'A' category of Public Sector Undertakings (PSUs). This upgrade from 'Schedule B' was announced by the Ministry of Railways in an office memorandum.
Sanjay Kumar Jain, chairman and MD of IRCTC, praised the promotion as a significant recognition of the corporation's strong performance. This achievement underscores IRCTC's effectiveness in management and operations within the hospitality, travel, and tourism sectors.
Kush Maini achieved his first-ever Formula 2 win at the Hungarian Grand Prix after Richard Verschoor, the original sprint race winner, was disqualified due to a technical infringement. This victory marks Maini's fifth podium of the season, placing him eighth in the championship standings, just three points behind Dennis Hauger.
IndusInd Bank Partners With Inspire Institute Of Sport
IndusInd Bank announced the launch of 'Wrestle for Glory' program, a CSR initiative of the Bank, continuing the longstanding collaboration with the Inspire Institute of Sport (IIS). This is a high performance Olympic training facility, headquartered in Vijayanagar, Bellary.
The 'Wrestle for Glory' program was launched as a part of the 'IndusInd For Sports' initiative, a non-banking sports vertical of the Bank, established in 2016. 'IndusInd For Sports' drives on the philosophy of diversity, differentiation and domination through its initiatives that aim at exciting, educating and engaging the stakeholders using sports.
This program aims to empower 50 talented female wrestling athletes from across the country and provide them with coaching at the esteemed IIS facility on fully-funded scholarships. Through its CSR initiatives focused on sports programs, the Bank prioritises both inclusivity and sporting excellence and emphasizes the participation of individuals from diverse backgrounds, including different genders, persons with disabilities, and underprivileged communities.
Ajinkya Naik Becomes Mumbai Cricket Association Youngest-ever President
Ajinkya Naik, at 37, became the youngest president of Mumbai Cricket Association after defeating Mumbai BJP chief Ashish Shelar's candidate Sanjay Naik by 107 votes in a one-sided election.
Ajinkya was serving as the secretary of the association under Amole Kale's. The MCA had to call for an election for the president post after Kale's demise in June.
Although Ajinkya fought for the post without any politician officially backing him, he admitted that behind the scenes, 'unseen powers' helped him in becoming the youngest president in MCA's history.
After a gap of five years, India reopened its embassy in Tripoli, Libya's foreign ministry led by its Government of National Unity (GNU) announced. The development marks a significant step in enhancing diplomatic relations between the two nations.
The first Indian diplomat reached the country after a gap of several years. Dr. Mohd. Aleem was appointed as the Charge d'Affaires (CdA) at the reopened Indian Embassy in Tripoli, Libya. Previously, Dr. Aleem served as the Under Secretary in the Ministry of External Affairs' (MEA) West Asia & North Africa Division (WANA).
Kerala Chief Secretary Calls Appointment of Foreign Secretary as Effort to Develop State
After the BJP and the Congress hit out at the Pinarayi Vijayan government for appointing IAS office K. Vasuki as 'state's secretary in charge of matters concerning external cooperation', Kerala Chief Secretary, Dr. V. Venu, clarified saying the appointment was part of an effort to establish new relations for the development of the state.
Goa Shipyard Launches First Indigenous P1135.6 Frigate 'Triput'
In a significant achievement for India's naval capabilities and the 'Atmanirbhar Bharat' initiative, Goa Shipyard Ltd (GSL) successfully launched the first indigenous P1135.6 Frigate, named Triput. This marks the first time these vessels are being constructed indigenously in India.
The ship was launched by Adv. Rita Sreedharan, with Goa Governor P. S. Sreedharan Pillai as the Chief Guest.
The 124-meter-long ship can reach speeds of 28 knots at a displacement of approximately 3200 tonnes and is equipped with advanced state-of-the-art weaponry and sensors. The frigate features indigenous components, including specialised low-carbon micro-alloy grade steel for the hull and various systems developed by private industry.
Sania Mirza, Mary Kom and Rannvijay Singha Join Play Sports as Brand Ambassadors
Six-time Grand Slam winner and former World No. 1 in women's doubles Sania Mirza, six-time World Champion and Olympic bronze medallist MC Mary Kom and actor Rannvijay Singha joined 'Play Sports' as brand ambassadors. Play Sport's objective is to create a sustainable sports eco system in India by working with schools, developing sports, managing sports infrastructure, running academies and scouting talent from grassroots.
National Thermal Engineer Day is celebrated on 24 July to appreciate the contribution of thermal engineers in everyday life. This day is celebrated to recognise the hard work and dedication of those in thermal engineering. The day commemorates the importance of thermal management in the electronics industry and the engineers and companies that make it possible. Irrespective of the market sector without the contributions of thermal engineers, the electronics that are an integral part of today's life and the cornerstone of our nation's technological advancement would not be possible.
Income Tax Day
India celebrates the Income Tax Day, or Aaykar Divas, every year on July 24. This day commemorates the historical evolution of tax administration in India and the ongoing reforms that aim to enhance tax compliance and simplify the process for taxpayers.
On this day, Income tax was first levied as a duty in India in 1860. The department celebrated this day for the first time in 2010 marking 150 years of the introduction of Income tax in India. This year marks the 165th occasion of National Income Tax Day.
New Central Sector Scheme for Industrial Development in J&K Gets Extended Till 2037
The Centre announced the extension of the New Central Sector scheme for Jammu and Kashmir up to 2037. However the budget allocation for the scheme—announced in 2021 for a period of 10 years following the abrogation of Article 370 and bifurcation of the erstwhile state into two Union Territories—remains the same at Rs. 28,400 crore.
As per reports, the extension to the scheme, announced in the Union Budget, is to encourage more businesses to invest in Jammu and Kashmir. However, keeping the same budget allocation may come as a disappointment to the UT administration.
There is no such scheme anywhere in the country. But many large investors feel realising 300% of GST refund in 10 years in J&K may not be possible.
New Scheme for Socio-economic Development of Tribal Villages
With a saturation approach for achieving social justice, Finance Minister Nirmala Sitharaman announced a new scheme for socio-economic development of 63,000 tribal villages that will aim to cover 5 crore people from tribal communities.
In the Budget for Department of Social Justice and Empowerment, the government also increased allocations for skilling of Scheduled Caste (SC) and Scheduled Tribes (ST), the National Overseas Scholarship Scheme for SCs and mechanised sanitation.
In her Budget speech, Sitharaman said the government will launch the Pradhan Mantri Janjatiya Unnat Gram Abhiyan by "adopting saturation coverage for tribal families in tribal-majority villages and aspirational districts".
The scheme signals continuation of the government's welfare outreach to ST communities. In the previous Budget, Sitharaman had announced the launch of the Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan (PM JANMAN), a welfare scheme targeted to improve the socio-economic conditions of the Particularly Vulnerable Tribal Groups.
NIT Tiruchirappalli: NIRF Rankings in Engineering, Overall in the Past 5 Years
The National Institute of Technology (NIT) Tiruchirappalli secured the fourth rank in the Architecture category of the National Institutional Ranking Framework (NIRF) 2023. However, it slipped one position in the engineering category, ranking 9th compared to 8th in 2022.
Despite the dip in engineering ranking, NIT Trichy improved its NIRF standing in 2023 for Architecture, Management, and Research and it retained its 21st position in the overall category, similar to the year before that is 2022.
Next Tourism Destination to be in East: from UP, Focus Shifts to Bihar, Odisha
While Bihar got the biggest share of the tourism pie in the Union Budget 2024-25 with the development of Vishnupad temple in Gaya, Mahabodhi temple in Bodhgaya, along with Nalanda and Rajgir finding a pride of place in Union Finance Minister Nirmala Sitharaman's Budget speech, a plan for an overall development of tourism sites in Odisha was also announced. The BJP formed its first government in Odisha.
While Uttar Pradesh got maximum focus in Narendra Modi government's previous terms, with Ayodhya and Varanasi getting an overhaul with the redevelopment of temples and upgradation of ground infrastructure, the tilt seems to have moved eastwards to Bihar and Odisha, along with the party's political ambitions and successes.
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