Sixteenth Finance Commission Constitutes Five-Member Advisory Council

Introduction
The Sixteenth Finance Commission has established an advisory council to provide expert guidance on its Terms of Reference (ToR) and related subjects. This initiative aims to enhance resources for panchayats and municipalities by suggesting measures to augment the Consolidated Fund of a State.
Advisory Council Members
The advisory council is composed of five distinguished members:
- Poonam Gupta (Convenor): Director General, National Council of Applied Economic Research
- D.K. Srivastava: Chief Policy Advisor, EY
- Neelkanth Mishra: Chief Economist, Axis Bank
- Pranjul Bhandari: Chief India Economist, HSBC Securities & Capital Markets
- Rahul Bajoria: MD & Head of EM Asia (ex-China) Economics, Barclays
Role and Functions of the Advisory Council
The advisory council will assist the Finance Commission in the following ways:
- Research Preparation: Creating papers or research studies relevant to the Commission’s work.
- Study Monitoring: Overseeing and assessing studies commissioned by the Finance Commission.
- Issue Understanding: Enhancing the Commission’s understanding of its ToR.
- Best Practices Exploration: Investigating national and international best practices regarding fiscal devolution.
Terms of Reference (ToR)
The ToR approved by the Cabinet includes:
- Tax Distribution: Guidelines for the distribution of net tax proceeds between the Union and states under Chapter I, Part XII of the Constitution.
- State Allocation: Criteria for the allocation of respective shares of tax proceeds among states.
- Grants-in-Aid Principles: Establishing principles governing grants-in-aid from the Consolidated Fund of India.
- Grant Payments: Determining sums to be paid to states as grants-in-aid of their revenues.
Constitutional Mandate
The Finance Commission is a constitutionally mandated body established every five years. Its primary role is to devise a formula for distributing net tax proceeds between the Centre, states, and local bodies. Currently, the 15th Finance Commission recommends that states receive 41% of federal taxes.
UNESCO Expands World Network of Biosphere Reserves

Introduction
The United Nations Educational, Scientific and Cultural Organization (UNESCO) has announced the approval of 11 new Biosphere Reserves across 11 countries. This expansion increases the total number of sites in the World Network of Biosphere Reserves to 759, encompassing 136 countries. This initiative represents a significant advancement in global efforts to protect biodiversity and promote sustainable development.
Newly Designated Biosphere Reserves
The latest additions to the UNESCO Biosphere Reserve list highlight a rich variety of ecosystems and cultural landscapes around the world. The newly designated reserves are:
- Kempen-Broek Transboundary Biosphere Reserve (Belgium, Kingdom of the Netherlands)
- Darién Norte Chocoano Biosphere Reserve (Colombia)
- Madre de las Aguas Biosphere Reserve (Dominican Republic)
- Niumi Biosphere Reserve (Gambia)
- Colli Euganei Biosphere Reserve (Italy)
- Julian Alps Transboundary Biosphere Reserve (Italy, Slovenia)
- Khar Us Lake Biosphere Reserve (Mongolia)
- Apayaos Biosphere Reserve (Philippines)
- Changnyeong Biosphere Reserve (Republic of Korea)
- Val d’Aran Biosphere Reserve (Spain)
- Irati Biosphere Reserve (Spain)
Significance of the Expansion
This expansion not only enhances the global network of protected areas but also reinforces UNESCO’s commitment to biodiversity conservation and sustainable development. Each Biosphere Reserve serves as a model for sustainable practices, balancing ecological health with the needs of local communities.
Understanding Biosphere Reserves: Balancing Nature and Human Activity
Definition and Purpose
A Biosphere Reserve is an international designation conferred by UNESCO to areas that embody significant natural and cultural landscapes. These reserves may include extensive terrestrial, coastal, or marine ecosystems, or a combination of these environments.
Goals of Biosphere Reserves
The primary objectives of Biosphere Reserves are to:
- Balance Development and Conservation: Strive for a harmonious coexistence between economic and social development and the preservation of natural ecosystems.
- Preserve Cultural Values: Protect and promote the cultural heritage and practices of local communities.
- Conserve Biodiversity: Safeguard the biological diversity and ecological processes that are essential for sustaining life.
Biosphere Reserves serve as vital areas for research, education, and the development of sustainable practices, acting as models for how human activity can align with the conservation of nature.
Criteria for Designation
To be designated as a Biosphere Reserve, a site must meet several key criteria:
- Protected Core Area: The site must contain a core area of high nature conservation value that is protected from human interference.
- Biogeographical Significance: It should represent a significant biogeographical unit large enough to sustain viable populations across all trophic levels.
- Community Involvement: Local communities must be involved in biodiversity preservation, utilizing their knowledge and practices.
- Preservation of Traditional Lifestyles: The site should demonstrate potential for preserving traditional tribal or rural modes of living that harmonize with the environment.
The Three-Zone Approach
Biosphere Reserves are typically divided into three interconnected zones:
- Core Zone: This is the most protected area, often designated as a national park or sanctuary, kept free from human interference.
- Buffer Zone: Surrounding the core zone, this area allows for activities that protect and support the integrity of the core zone.
- Transition Zone: The outermost area where human activities coexist with conservation efforts, promoting sustainable practices.
India’s Commitment to Biosphere Reserves
The Biosphere Reserve Project
In 1986, the Government of India launched the Biosphere Reserve scheme, aligning with UNESCO’s Man and Biosphere (MAB) programme. This initiative provides financial assistance to states for the maintenance and development of biosphere reserves, with varying funding ratios based on the region.
India’s Biosphere Reserve Network
As of 2024, India has 18 notified biosphere reserves, with 12 recognized under UNESCO’s MAB programme. These reserves encompass diverse ecosystems, from the Nilgiri Mountains to the Sundarbans delta, highlighting India’s rich biodiversity and commitment to conservation.
Global Impact and Future Prospects
The expansion of the World Network of Biosphere Reserves marks a significant advancement in global conservation efforts. With 759 sites covering a total area of 7,442,000 square kilometers and impacting approximately 275 million people, these reserves play a crucial role in:
- Conserving Biodiversity: Protecting diverse species and ecosystems.
- Promoting Sustainable Development: Supporting economic growth while ensuring environmental protection.
- Preserving Cultural Heritage: Safeguarding the cultural practices and identities of local communities.
- Facilitating Scientific Research and Education: Serving as vital sites for research, learning, and awareness-raising.
As the network continues to expand, it strengthens the global community’s capacity to tackle pressing environmental challenges while fostering sustainable economic growth and cultural preservation.
India to Observe ‘Samvidhaan Hatya Diwas’ on June 25

Introduction
The Government of India, led by Prime Minister Shri Narendra Modi, has announced that June 25 will be observed annually as ‘Samvidhaan Hatya Diwas’ (Constitution Murder Day). This day aims to commemorate the sacrifices of those who endured the harsh realities during the 1975 Emergency in India.
Purpose and Significance
The Union Home Minister highlighted that this observance serves a dual purpose:
- Honoring Struggles for Democracy: To pay tribute to the millions who fought to restore democratic values during a challenging time.
- Acknowledging Persecution: To recognize the severe oppression faced by citizens under an authoritarian regime during the Emergency.
By commemorating this day, the government aims to keep the spirit of individual freedom and the defense of democracy alive in every citizen’s heart, preventing any repetition of the past’s horrors by dictatorial forces.
The Emergency: A Dark Chapter in Indian Democracy
Historical Context
The Emergency refers to a 21-month period from June 25, 1975, to March 21, 1977, when Prime Minister Indira Gandhi invoked special provisions of the Constitution to impose extensive executive and legislative measures across the country.
Key Events and Consequences
- Suspension of Civil Liberties: Fundamental rights were curtailed, particularly the freedom of speech and expression as guaranteed under Article 19(1)(a) of the Indian Constitution.
- Press Censorship: The government imposed pre-censorship on the press, severely restricting the free flow of information.
- Mass Arrests: Almost all opposition leaders were imprisoned, effectively silencing dissent and criticism of the government.
- Electoral Disruption: Scheduled elections were cancelled, undermining the democratic process.
- Rule by Decree: Authoritarian rule replaced normal democratic functioning through executive orders.
Impact on Fundamental Rights
The Emergency period witnessed significant restrictions on fundamental rights, particularly targeting the freedom of speech and expression. Consequences included:
- Pre-censorship of the Press: Journalistic freedom was severely compromised.
- Restrictions on Public Gatherings: Protests and public assemblies faced strict limitations.
- Limitations on Personal Freedoms: Citizens experienced widespread curtailment of personal liberties.
Conclusion
The observance of Samvidhaan Hatya Diwas is a vital step in acknowledging the past and reinforcing the importance of democracy and individual rights in India. By remembering the struggles of the Emergency, the government aims to educate citizens about the value of freedom and the need for vigilance against authoritarianism.
Significance of June 25, 2024
A Milestone Anniversary
The year 2024 marks a significant milestone as India observes the fiftieth anniversary of the imposition of the Emergency. The decision to formally recognize Samvidhaan Hatya Diwas from this year onwards carries profound significance, serving as a poignant reminder of the challenges faced during this turbulent period in Indian history.
Looking Forward: Preserving Democratic Values
Educational Importance
Instituting this annual observance aims to educate younger generations about this critical chapter in Indian history. It serves as a reminder of the fragility of democratic institutions and underscores the importance of safeguarding constitutional rights.
Strengthening Democratic Foundations
The observance of Samvidhaan Hatya Diwas is expected to:
- Reinforce Constitutional Values: Highlight the significance of upholding the Constitution as the foundation of democracy.
- Encourage Civic Engagement: Promote political awareness and active participation in democratic processes among citizens.
- Foster Appreciation for Freedoms: Instill a deeper understanding of the value of democratic freedoms and individual rights.
National Reflection
This annual event provides a vital opportunity for national reflection on the importance of:
- Upholding the Rule of Law: Ensuring that laws apply equally to all and that justice prevails.
- Protecting Individual Freedoms: Safeguarding the rights of citizens against any form of oppression.
- Maintaining a Vibrant and Free Press: Recognizing the role of the media in promoting transparency and accountability.
- Ensuring Independence of Democratic Institutions: Preserving the autonomy of institutions that uphold democracy and protect citizens’ rights.
By observing Samvidhaan Hatya Diwas, India aims not only to remember the past but also to commit to a future where democratic values are cherished and protected.
NITI Aayog Releases SDG India Index 2023-24

Overview
The SDG India Index 2023-24 demonstrates notable national and subnational progress on the Sustainable Development Goals (SDGs). India’s composite score has improved to 71, reflecting advancements in key areas such as poverty eradication, economic growth, climate action, and biodiversity conservation.
State-wise Progress
- Front Runner States: A total of 32 states and Union Territories (UTs) achieved scores ranging from 65 to 99, with significant improvements noted in Uttar Pradesh, Jammu & Kashmir, and West Bengal.
- New Entrants: Arunachal Pradesh, Assam, and Chhattisgarh have joined the Front Runner category due to substantial increases in their scores.
Goal-wise Achievements
- Goal 13 (Climate Action): The score rose from 54 to 67, highlighting enhanced disaster preparedness and greater adoption of renewable energy sources.
- Goal 1 (No Poverty): The score improved from 60 to 72, driven by effective social welfare schemes such as PM Awas Yojana (PMAY) and Ayushman Bharat.
Key Interventions
- Initiatives like PM Awas Yojana and Ujjwala Yojana have significantly contributed to achieving goals related to housing, sanitation, and clean energy.
- Enhanced financial inclusion and the development of digital infrastructure have further supported economic growth and societal welfare.
Institutional Framework
NITI Aayog plays a pivotal role in localizing SDGs and fostering competitive federalism, ensuring that sustainable development is integral to both national and subnational policies.
Future Directions
The SDG India Index serves as an essential tool for evaluating progress and guiding policy decisions toward achieving the 2030 Agenda. The focus remains on promoting inclusive growth and ensuring environmental sustainability.
Sustainable Development Goals (SDGs)

Overview
- Number of Goals: There are 17 Sustainable Development Goals established by the United Nations.
- Members Involved: All 193 member states of the United Nations are committed to achieving these goals by 2030.
Purpose
The SDGs aim to address global challenges, including:
- Poverty
- Inequality
- Climate change
- Environmental degradation
- Peace and justice
Targets
Each goal includes specific targets, totaling 169 targets across all SDGs, guiding national and global efforts toward sustainable development.
Adoption and Implementation
The SDGs were adopted by all UN member states in 2015 as part of the 2030 Agenda for Sustainable Development. Countries are encouraged to localize and integrate the SDGs into their national policies and programs, with regular monitoring and reporting on progress.
Global Impact
The SDGs provide a framework for global cooperation, promoting collaboration among governments, businesses, civil society, and citizens to achieve a more sustainable and equitable world by 2030.
National Affairs
Boosting Entrepreneurship
In a significant initiative to enhance entrepreneurship, Union Minister Piyush Goyal has announced an 80% reduction in licensing fees for women entrepreneurs and a 50% reduction for Micro, Small, and Medium Enterprises (MSMEs) under the Petroleum and Explosives Safety Organisation (PESO). This move aims to encourage greater participation from women and MSMEs in the petroleum and explosives sectors, balancing industry compliance with public safety.

Malabar Naval Exercise
India is set to host the prestigious Malabar naval exercise in October alongside the United States, Japan, and Australia in the Bay of Bengal. This 28th edition of the exercise comes amid rising regional tensions, particularly due to China’s assertive actions in the South China Sea and its expanding presence in the Indian Ocean Region (IOR). The focus will be on advanced anti-submarine warfare, aimed at enhancing military interoperability among the four nations.
Quality Standards for Utensils
The Government of India has mandated that all stainless steel and aluminium utensils conform to the Bureau of Indian Standards (BIS). Effective from March 14, 2024, this directive, issued under the Quality Control Order by the Department for Promotion of Industry and Internal Trade (DPIIT), makes the ISI mark compulsory for these utensils, as announced by the Ministry of Consumer Affairs, Food and Public Distribution.
Shaping International Maritime Policies
India is playing a prominent role in shaping international maritime policies, represented by a high-level delegation led by Shri T.K. Ramachandaran, Secretary of the Ministry of Ports, Shipping and Waterways. This delegation is participating in the 132nd session of the Council of the International Maritime Organization (IMO) in London, which commenced on July 8, 2024, and will continue until July 12, 2024. The session is set to address critical issues and proposals for the future of global maritime operations.
States in the News

Jharkhand
The National Commission for Protection of Child Rights (NCPCR) has declared the mica mines of Jharkhand as child labour-free during an event in Koderma. This initiative marks the first successful effort to cleanse the supply chain of child labour in mica mining.
Odisha
- The Jagannath Rath Yatra, a significant Hindu festival, is celebrated annually in the city of Puri, Odisha. It occurs on the Dwitiya Tithi (the second day of the bright fortnight of Sharad Paksha) and usually falls in June or July, coinciding with the month of Asadh in the Hindu lunar calendar.
Maharashtra
- Maharashtra has been awarded the Best Agriculture State Award for 2024 by the 15th Agriculture Leadership Awards Committee, chaired by former Chief Justice of India, Justice P Sathasivam.

Uttar Pradesh
The Uttar Pradesh government, under Chief Minister Yogi Adityanath, has launched the ‘Mitra Van’ (Friendship Forest) initiative as part of the Vriksharopan Jan Abhiyan-2024, aiming to enhance greenery along the state’s borders, including the international border with Nepal.
The state has secured over 154 defence manufacturing deals worth Rs 25,000 crore, significantly boosting India’s defence production capabilities. This initiative is part of the Uttar Pradesh Defence Industrial Corridor (UPDIC), which spans Lucknow, Kanpur, Jhansi, Aligarh, Chitrakoot, and Agra.
The Forest Department of Uttar Pradesh released the latest summer census figures for the Sarus Crane, showing positive trends in conservation efforts for this state bird.
Chief Minister Yogi Adityanath announced the export of 40 tonnes of mangoes to Japan and Malaysia, including the first-ever export of Lucknow’s famous Dussehri mangoes to the United States at the Uttar Pradesh Mango Festival 202
Nagaland
- In recognition of its efforts in agricultural development, Nagaland has been awarded the title of best state in horticulture at the Agriculture Leadership Awards 2024, highlighting the state’s commitment to innovative practices and rural development.

Haryana
The Haryana Cabinet has approved the IT Saksham Yuva Scheme, 2024, aiming to provide jobs to 5,000 youths in its first phase. This initiative is part of the ‘Mission 60,000’ program, targeting employment for 60,000 young individuals from poor families through short-term courses.
Jharkhand
- The Jharkhand government is planning to establish eastern India’s first university for physically challenged students in Ranchi. Higher and Technical Education Minister Champai Soren has directed officials to prepare a proposal for this initiative, focusing on tailored education for students with disabilities.
International Affairs
Iran Presidential Election
Masoud Pezeshkian, a seasoned lawmaker and cardiac surgeon, has won Iran’s presidential election, defeating hardliner Saeed Jalili.

UK Finance Minister
Rachel Reeves has made history by becoming the first woman finance minister of the United Kingdom. The 45-year-old economist, who was appointed as chancellor on June 5 following a Labour Party victory led by Keir Starmer, has pledged to focus on growing the nation’s economy.
India-Russia Trade Goals
India and Russia have set an ambitious target to increase bilateral trade to $100 billion by 2030. Discussions have centered on enhancing economic collaboration in sectors such as energy, trade, manufacturing, and fertilizers, along with efforts to balance trade and reduce non-tariff barriers. The possibility of establishing an India-Eurasian Economic Union Free Trade Area was also explored.

Colombo Security Conclave
The Colombo Security Conclave (CSC) has welcomed Bangladesh as its fifth member during the 8th Deputy National Security Adviser (DNSA) level meeting, which was hosted virtually by Mauritius. The CSC currently includes India, Sri Lanka, Mauritius, and the Maldives, with Seychelles participating as an Observer State.
Foreign Portfolio Investment Trends
As of June 30, 2024, Ireland has overtaken Mauritius to become the fourth preferred destination for Foreign Portfolio Investors (FPIs) routing funds into India. Ireland’s assets under custody (AUC) total Rs 4.41 trillion, slightly surpassing Mauritius’ Rs 4.39 trillion. This shift reflects Ireland’s increasing appeal, with a 26% increase in AUC in the first half of the year compared to an 11% rise for Mauritius.
Expatriate Living in Vietnam
In a comprehensive study conducted by InterNations in 2024, Vietnam has once again been recognized as the most affordable destination for expatriates. This marks the fourth consecutive year that the Southeast Asian nation has topped the list, reinforcing its reputation as an attractive location for those seeking an economical lifestyle abroad.
Agreements/MoUs Signed

ADB Financing Agreement
The Asian Development Bank (ADB) has entered into a $60 million financing agreement with Aadhar Housing Finance Limited (AHFL) to provide housing loans specifically for women in India. This initiative aims to tackle the financing shortage in the low-income and affordable housing sector. Half of the funds will be allocated to the states of Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Odisha, Rajasthan, Uttar Pradesh, and West Bengal.
Philippines-Japan Security Deal
The Philippines and Japan have solidified their security relationship by signing a new deal that facilitates easier entry for their military forces into each other’s countries. This agreement comes in response to rising concerns in the Indo-Pacific region.
ICAI AI Audit Tool Development
The Institute of Chartered Accountants of India (ICAI) has initiated discussions with the Ministry of Electronics and Information Technology (MeitY) to develop an AI Audit Tool. This tool aims to oversee corporate activities in India and assist in fraud detection. ICAI President Ranjeet Kumar Agarwal has confirmed that a proposal has been submitted to MeitY Secretary Krishnan.

CSIR and MSSRF Collaboration
The Council of Scientific and Industrial Research (CSIR) has signed a Memorandum of Understanding (MoU) with the M. S. Swaminathan Research Foundation (MSSRF). This collaboration focuses on enhancing livelihood opportunities for rural, tribal, and farming communities in India, leveraging CSIR’s technological innovations alongside MSSRF’s grassroots outreach to empower marginalized groups.
India-Taiwan Organic Products Agreement
The India-Taiwan Mutual Recognition Agreement (MRA) for Organic Products is set to take effect from July 8, 2024. This agreement aims to boost trade by allowing certified organic products from each country to enter the other’s market. The Agricultural and Processed Food Products Export Development Authority (APEDA) of India and Taiwan’s Agriculture and Food Agency will be the respective implementing agencies for this landmark agreement.
Banking/Economy/Business News

Bank of Baroda Fundraising
Bank of Baroda (BoB) plans to raise up to ₹7,500 crore through Additional Tier-I (AT1) and Tier-II bonds to meet regulatory requirements and support business growth. The capital will be raised in multiple tranches by March 31, 2025, depending on market conditions.
Employment Growth
According to the Reserve Bank of India (RBI), India’s employment growth provisionally rose to 6% in FY24, compared to 3.2% in FY23. This increase brought total employment to 643.3 million, up from 596.7 million the previous year, resulting in 46.7 million jobs created.
ICICI Lombard’s New Insurance Product
ICICI Lombard, a leading private general insurer, has launched ‘Elevate’, a pioneering health insurance product that integrates AI technology. This offering is tailored to meet the diverse needs of modern lifestyles and unforeseen medical emergencies, emphasizing personalized solutions.
Tata Power’s Solar Initiative
Tata Power Solar Systems Limited has introduced the ‘Ghar Ghar Solar’ initiative in Uttar Pradesh, starting in Varanasi. The initiative aims to provide clean energy to every home through rooftop solar solutions, promising financial savings and environmental benefits.

RBI’s New Manufacturing Survey
The RBI has introduced its quarterly “Order Books, Inventories and Capacity Utilisation Survey” (OBICUS) for the manufacturing sector. This survey aims to inform monetary policy decisions by providing insights into new orders, inventory levels, and capacity utilization since its inception in 2008.
SEBI Guidelines for Credit Rating Agencies
SEBI has issued new guidelines to streamline operations for credit rating agencies, introducing specific timelines for handling appeals from companies regarding rating actions during periodic surveillance.
Financial Inclusion Index
The RBI’s Financial Inclusion Index (FI-Index) rose to 64.2 in March 2024, up from 60.1 in March 2023. This reflects growth across all sub-indices, indicating an increase in financial inclusion.
Public Sector Bank Dividends
Four public sector banks—Canara Bank, Indian Bank, Bank of India, and EXIM Bank—have collectively paid ₹6,481 crore in dividends to the government for FY23-24.
Economic Growth in June 2024
India’s economy showed significant growth in June 2024, with the Purchasing Managers’ Index (PMI) for manufacturing reaching a 19-year high and the Eight Core Industries Index expanding by 6.5% year-on-year, led by sectors like coal and electricity.
REC Limited’s Green Loan
REC Limited, a leading lender in the power sector, secured a 5-year green loan worth 31.96 billion Japanese yen (approximately $200 million). This transaction, facilitated by Deutsche Bank, marks one of the first yen-denominated green loan deals in India.
New ETFs and Index Funds
ICICI Prudential Mutual Fund has launched the ICICI Prudential Nifty Oil & Gas ETF, while Kotak Mahindra AMC introduced the Kotak BSE PSU Index Fund, which mirrors the BSE PSU Index comprising 56 stocks.

Punjab National Bank’s Security Feature
In response to increasing cyber fraud incidents, Punjab National Bank (PNB) has launched the ‘Safety Ring’ security feature to provide additional protection against unauthorized access in internet and mobile banking.
Retail Inflation Update
India’s retail inflation rose to a four-month high of 5.08% in June 2024, primarily driven by rising food prices amid heatwave conditions. This marks the 57th consecutive month above the RBI’s 4% target.
Industrial Output Growth
India’s industrial output expanded by 5.9% year-over-year in May 2024, marking the highest growth in seven months, driven by electricity generation and consumer durables.
Consumer Price Index Insights
The All India Consumer Price Index (CPI) for June 2024 showed an inflation rate of 5.08%, with rural inflation at 5.66% and urban inflation at 4.39%. Price dynamics varied across essential sub-groups, reflecting the diverse impacts on different segments of the population.
Appointments/Resignations
FATF Presidency
Elisa de Anda Madrazo from Mexico has been appointed as the president of the Financial Action Task Force (FATF) for a two-year term from July 2024 to June 2026. She aims to enhance global efforts to combat financial crimes and terrorism financing.

Vice-Chancellor Selection in West Bengal
A division bench of the Supreme Court, comprising Justice Surya Kant and Justice K V Vishwanathan, has appointed former Chief Justice of India Uday Umesh Lalit as the chairman of the search and selection committee for vice-chancellor appointments in West Bengal’s state-run universities.
IEX Leadership
The board of the Indian Energy Exchange (IEX) has reappointed Satyanarayan Goel as its Chairman and Managing Director for a three-year term beginning August 10, 2024.
Utkarsh Small Finance Bank
The Reserve Bank of India (RBI) has reappointed Govind Singh as the Managing Director and Chief Executive Officer of Utkarsh Small Finance Bank (Utkarsh SFB), with his new term starting on September 21, 2024.

National Tuberculosis Elimination Programme
Prof. (Dr.) Soumya Swaminathan has been appointed as the Principal Adviser for the National Tuberculosis Elimination Programme at the Union Ministry of Health & Family Welfare, emphasizing the government’s commitment to eradicating tuberculosis.
NBDA Leadership
Rajat Sharma, Chairman and Editor-in-Chief of India TV, has been unanimously elected as the President of the News Broadcasters & Digital Association (NBDA) during its board meeting on July 9, 2024.
PV Sindhu’s Business Venture
Olympic medalist and badminton player PV Sindhu has joined Hoop, a Gurugram-based wellness brand, as both an investor and brand ambassador, marking her entry into entrepreneurship beyond sports.
Defence News

Zorawar Light Tank Unveiled
India has introduced the ‘Zorawar’ light tank, developed collaboratively by DRDO and Larsen & Toubro. This tank, designed for high-altitude operations, was created in a record timeframe of two years. Equipped with advanced weaponry, including a 105mm rifled cannon and composite modular armor, the tank is named after General Zorawar Singh. It is scheduled for extensive trials before potential deployment in regions like Ladakh, Sikkim, or Kashmir.
Plantation Drive by BSF and SBI
The Border Security Force (BSF), in partnership with the State Bank of India (SBI), organized the “Grow with the Trees” plantation drive at the BSF Headquarters in Srinagar. This initiative aims to promote environmental sustainability and engage BSF personnel, SBI officials, and local school children in tree plantation activities.
Azerbaijan-Kazakhstan Joint Military Exercise
Servicemen from the Azerbaijan Army have arrived in Kazakhstan to participate in the “Birlestik-2024” operational-tactical command-staff exercise. Scheduled from July 11 to July 17, the drill will take place at the Oymasha training ground and Cape Tokmak in the Caspian Sea. This exercise involves collaboration among the defense ministries of Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan.
Leadership Change in Armed Forces Medical Services
Lt Gen Shankar Narayan, NM, VSM has taken over as Commandant of the Army Hospital (Research & Referral), the premier medical institution of the Indian Armed Forces. His appointment signals a new chapter in military healthcare, promising fresh perspectives for the hospital.
Expansion of Remittances by RBI
The Reserve Bank of India (RBI) has expanded the scope of remittances to International Financial Services Centres (IFSCs) under the Liberalised Remittance Scheme (LRS). This expansion allows resident Indians to open fixed deposits in dollars at GIFT IFSC, enhancing the range of financial services and products available as per the International Financial Services Centres Authority Act, 2019.

IAF Participates in Exercise Pitch Black 2024
The Indian Air Force (IAF) is actively engaged in Exercise Pitch Black 2024, hosted by the Royal Australian Air Force (RAAF) at Base Darwin, Australia. Running from July 12 to August 2, 2024, this biennial multinational exercise serves as a vital platform for enhancing international military cooperation and demonstrating air combat capabilities among participating nations.
DRDO Awards New Projects for Self-Reliance
The Defence Research & Development Organisation (DRDO) has awarded seven new projects to various industries under the Technology Development Fund (TDF) scheme. This initiative aims to bolster self-reliance in the defense sector by addressing specific requirements of the Armed Forces and the aerospace and defense industries. The projects focus on nurturing the growth of industries, especially MSMEs and start-ups, contributing to innovation and development in these critical sectors.
Awards and Recognitions
Roshni Nadar Malhotra Receives French Honor
Roshni Nadar Malhotra, Chairperson of HCLTech, has been awarded the “Chevalier de la Légion d’Honneur” (Knight of the Legion of Honour), France’s highest civilian distinction. This recognition highlights her significant contributions to business and society.

Sivashankari Wins Dr. C. Narayana Reddy National Literary Award
Renowned Tamil author Sivashankari has been selected for the prestigious Dr. C. Narayana Reddy National Literary Award. This accolade honors her immense contributions to Tamil literature and her influence on contemporary Indian literary culture.
Dr. Arpit Chopra Honored at NDTV MSMES Summit
Dr. Arpit Chopra, a distinguished homoeopathic practitioner, received the Excellence Award at the NDTV MSMES Summit in Bhopal, Madhya Pradesh. This recognition acknowledges his contributions to alternative medicine and his impact on the MSME sector.

Prime Minister Modi Presented with Order of St Andrew
Prime Minister Narendra Modi was ceremoniously awarded the Order of St Andrew the Apostle the First-Called, a distinction he received in 2019. This honor recognizes his significant role in enhancing the strategic partnership between Russia and India.
K. Chockalingam Receives Hans von Hentig Award
Retired professor K. Chockalingam from Tamil Nadu has been selected for the esteemed Hans von Hentig Award. This honor acknowledges his contributions to victimology and the global influence of Indian scholarship in understanding crime victims’ experiences within the criminal justice system.
Summits and Conferences News
NATO Summit Highlights
The NATO summit, hosted by President Joe Biden in Washington, DC from July 9 to 11, marks a significant moment for the alliance, especially with Sweden joining as a new member. This summit, celebrating NATO’s 75th anniversary, focuses on strengthening support for Ukraine, with expected announcements regarding military, political, and financial aid. The event underscores NATO’s commitment to Euro-Atlantic security amid evolving global challenges.

Indian Delegation at BRICS Parliamentary Forum
Om Birla, Speaker of the Lok Sabha, will lead an Indian parliamentary delegation to the 10th BRICS Parliamentary Forum in St. Petersburg, Russia. The forum aims to discuss the role of parliaments in advancing global development and security through enhanced multilateral cooperation.
Ranks and Reports
India’s Position in Generative AI Innovations
India ranks fifth globally in Generative AI (GenAI) innovations, following China, the US, Republic of Korea, and Japan. Notably, India has recorded the highest annual growth rate in GenAI patent publications, indicating substantial potential for economic impact.
Sports News
Lewis Hamilton Wins British Grand Prix
Lewis Hamilton claimed victory at the British Grand Prix 2024, becoming the first F1 driver to win at any track nine times. This win also marks his 104th career victory, extending his record. His last win was at the Saudi Arabian GP in December 2021.

Dhruv Sitwala’s Asian Billiards Triumph
Dhruv Sitwala secured his third Asian Billiards Title by defeating Pankaj Advani in Riyadh, Saudi Arabia. The championship, organized by the ACBS, included various events such as Men’s Snooker Team and Women’s Asian Snooker.
Indian Squash Players Shine at Asian Doubles Championship
Indian squash players excelled at the Asian Squash Doubles Championship 2024 in Johor, Malaysia, winning titles in both the men’s doubles and mixed doubles categories.
PUMA India Partners with IOA for Paris Olympics
PUMA India has announced a major partnership with the Indian Olympic Association (IOA), becoming the Official Footwear Partner for the Indian contingent at the Paris Olympics 2024. This collaboration aims to support Indian athletes on the global stage and promote sports excellence in the country.
Dual Flag Bearers for Paris 2024
The Indian Olympic Association (IOA) has confirmed that India will maintain the tradition of having two flag bearers for the Paris 2024 Olympics, following the model from the Tokyo 2020 Games. PV Sindhu, the badminton star, will represent as the female flag bearer, while veteran table tennis player Sharath Kamal will serve as the male flag bearer. This decision aligns with the International Olympic Committee’s commitment to promoting gender equality in sports.

ICC Player of the Month Awards
Jasprit Bumrah, a key player in India’s T20 World Cup victory, has been named the ICC Men’s Player of the Month for June, further solidifying his status among the world’s elite fast bowlers. Additionally, Smriti Mandhana, the vice-captain of the Indian women’s cricket team, received her first ICC Women’s Player of the Month award.
Chef-De-Mission for Paris Olympics
Gagan Narang, a four-time Olympian and 2012 Olympic bronze medalist, has been appointed as India’s Chef-De-Mission for the 2024 Paris Olympics. This appointment follows Mary Kom’s resignation from the role due to health issues.
Sponsorship Announcement for Paris Olympics
In a significant boost for Indian sports, Gautam Adani, Chairman of the Adani Group, announced that the conglomerate will be the principal sponsor for the Indian contingent at the 2024 Paris Olympics. This partnership is a crucial development as athletes prepare for the prestigious event.

Retirement of James Anderson
James Anderson, the veteran English fast bowler, has announced his retirement from Test cricket. The 41-year-old concluded his illustrious career, spanning 21 years, at Lord’s Cricket Ground in London, the venue where it all began.
Schemes and Committees News
Judicial Commission on Hathras Stampede
The Uttar Pradesh government has established a three-member judicial commission to investigate the stampede that occurred during a Satsang in Hathras on July 3, 2024, resulting in 121 fatalities. The notification for this commission was issued by Uttar Pradesh Governor Anandiben Patel.
Project PARI: Public Art Initiative
India is launching Project PARI (Public Art of India), initiated by the Ministry of Culture and executed by Lalit Kala Akademi and the National Gallery of Modern Art. This project aims to integrate India’s rich artistic heritage with contemporary themes and techniques, reflecting the country’s cultural and spiritual diversity.
Haj Committee Restructuring
The Indian government has designated the Ministry of Minority Affairs as the nodal ministry for the Haj Committee, taking over this responsibility from the Ministry of External Affairs (MEA). This change will include new rules and the nomination of officers from various ministries to the committee.

Launch of Agri Fund for Start-Ups
The Government of India is set to launch the Agri Fund for Start-Ups & Rural Enterprises (AgriSURE). This initiative aims to support agripreneurs through investments in sector-specific and sector-agnostic funds, as well as providing direct equity support to start-ups in agriculture and related sectors. The establishment of a ₹750 crore Category-II Alternative Investment Fund (AIF) is planned to foster innovation and sustainability in India’s agricultural sector.
Science and Technology News
Successful Launch of Ariane 6 Rocket
Europe’s Ariane 6 rocket successfully launched for the first time from Kourou, French Guiana, marking a pivotal moment in the continent’s space capabilities. The launch, which faced a brief one-hour delay due to a minor issue, successfully deployed satellites into orbit. This event restores Europe’s independent access to space after a series of setbacks and delays, highlighting the region’s commitment to enhancing its presence in the space industry.

WHO Launches Medical Devices Information System
The World Health Organization (WHO) has introduced MeDevIS (Medical Devices Information System), an innovative online platform designed to serve as the first global open-access clearing house for medical device information. This initiative aims to assist governments, regulators, and healthcare users in making informed decisions regarding the selection, procurement, and usage of medical devices for diagnostics, testing, and treatment across various health conditions.
Recent Developments
GAINS 2024 Initiative Launched
On July 10, 2024, Raksha Rajya Mantri Shri Sanjay Seth inaugurated the GRSE Accelerated Innovation Nurturing Scheme (GAINS 2024) at Garden Reach Shipbuilders & Engineers Limited (GRSE) in Kolkata. This initiative aims to tackle challenges faced by shipyards by promoting technological solutions and fostering innovation through collaboration with Indian start-ups.
Important Days
- World Kiswahili Language Day: Celebrated on July 7, this year’s theme, “Kiswahili: Education and Culture of Peace,” emphasizes the language’s role in fostering understanding and harmony among cultures. The event was held at UNESCO Headquarters in Paris.
- World Population Day: Observed on July 11, this day serves as a platform for raising awareness about pressing population issues affecting the globe. Established by the United Nations in 1989, it highlights various demographic challenges.
- International Day of Reflection and Commemoration of the 1995 Genocide in Srebrenica: Also observed on July 11.
- National Fish Farmer’s Day: Celebrated in India on July 10, this day honors the contributions of fish farmers and aquaculture professionals.
- International Day of Combating Sand and Dust Storms: Proclaimed by the UN General Assembly for July 12 to address global concerns regarding sand and dust storms.
- Malala Day: Celebrated on July 12, this day honors Malala Yousafzai’s birthday and her advocacy for girls’ education, calling for action towards children’s right to education worldwide.
Obituaries
- Jon Landau: The Oscar-winning producer known for his work on films like Titanic and the Avatar series passed away at the age of 63.
Miscellaneous News
The construction of the Viraat Ramayan Mandir, the world’s largest Ramayan temple, has entered its second phase in East Champaran, Bihar, promising to surpass the scale of the Ram Mandir in Ayodhya.

Nitish Singh, an international mountaineer from Gorakhpur, UP, successfully conquered Mount Kinabalu, Malaysia, on July 9 and hoisted the tricolor flag, setting a record for the achievement.
Static Takeaways
- UNESCO: Founded on November 16, 1945, in London; Headquarters: Paris, France; Current Head: Audrey Azoulay.
- National Commission for Protection of Child Rights: Founded on March 5, 2007; Headquarters: New Delhi; Chairman: Priyank Kanoongo.
- FATF: Founded in July 1989; Headquarters: Paris, France.
- Maharashtra: Governor: Ramesh Bais; Chief Minister: Eknath Shinde.
- Indian Olympic Association: Founded in 1927; Headquarters: New Delhi; President: P. T. Usha.
- International Court of Justice: Established on June 26, 1945; Headquarters: The Hague, Netherlands; President: Judge Nawaf Salam; Vice-President: Judge Julia Sebutinde.
- Taiwan: Capital: Taipei; Currency: New Taiwan Dollar (TWD); Government: Unitary semi-presidential republic; President: William Lai Ching-te; Languages: Mandarin Chinese (official), Taiwanese Hokkien, Hakka.
- Uttar Pradesh: Capital: Lucknow; Districts: 75 (18 divisions).
- UP Flower: Palash;
- UP Formation: 24 January 1950.
- Nagaland Capital: Kohima (Executive Branch);
- Nagaland Chief Minister: Neiphiu Rio;
- Nagaland Governor: La. Ganesan;
- Nagaland Bird: Blyth’s tragopan.
- Puma Founder: Rudolf Dassler;
- Puma Owners: Artemis S.A, Kering;
- Puma Headquarters: Herzogenaurach, Germany;
- Puma Parent organization: Artemis S.A;
- Puma Founded: 1948, Herzogenaurach, Germany.
- Chief of the Air Staff of India: Vivek Ram Chaudhari;
- Indian Air Force Headquarters: New Delhi;
- Indian Air Force Founded: 8 October 1932, India.
- Defence Research and Development Organisation
Chairman: Samir V Kamat; - DRDO was formed in 1958.
- WHO Establishment: Founded on April 7, 1948.
- WHO Headquarters: Geneva, Switzerland.
- WHO Parent Organization: United Nations (UN).
- Ireland Capital: Dublin
- Ireland Currency: Euro (EUR)
- Pakistan Capital: Islamabad
- Pakistan President: Asif Ali Zardari
- Chief minister of Jharkhand: Hemant Soren
- Governor of Jharkhand: C. P. Radhakrishnan
- Capital of Jharkhand: Ranchi
- Jharkhand was founded: 15 November 2000
- Jharkhand (before was): Part of Bihar
- Jharkhand’s Bird: Koel
- NABARD Established: 1982.
- NABARD Headquarters: Mumbai, Maharashtra, India.
- Chairman of NABARD: Shaji K V
Daily Current Affairs for UPSC, APSC, Bank, SSC, Government Jobs, and Sarkari Exams
Boost your Daily Current Affairs and Daily GK knowledge with important one-liners from 08th to 14th of July 2024. Perfect for Indian students preparing for UPSC, APSC, Bank Exams, SSC, Government Jobs, and other Sarkari Exams. Stay updated and enhance your competitive exam preparation with the latest and most relevant information.
Prepare for Sarkari Naukri, Government Job Exams, or Competitive Exams like UPSC, APSC, Bank PO, SSC CGL, and more with our latest Current Affairs and General Knowledge (GK) one-liners from 8th to 14th April 2024. These updates are essential for all aspirants aiming to crack their dream job in government sectors.
Daily Current Affairs & GK Overview
Stay updated with the most important Daily Current Affairs and General Knowledge (GK) for Sarkari Exams like UPSC, APSC, Bank PO, SSC CGL, and more.
April 2024 Current Affairs in Hindi
अप्रैल 2024 की सबसे जरूरी करंट अफेयर्स और सामान्य ज्ञान। ये अपडेट्स सरकारी नौकरी और प्रतियोगी परीक्षाओं की तैयारी के लिए महत्वपूर्ण हैं।
Important GK for Sarkari Naukri
Revise these key General Knowledge (GK) points for your Sarkari Naukri preparation. Our Weekly GK is specially designed to help with UPSC, Bank exams, and other Government Jobs.
For UPSC preparation, revising Daily Current Affairs and Monthly GK is essential. Bank exam aspirants should focus on both daily GK updates and monthly compilations to cover all aspects of the syllabus. SSC CGL candidates can also benefit from our current affairs 2024 for key national and international events.
FAQs Section
Q1: What are the most important current affairs topics for UPSC 2024?
Q2: How can I improve my GK for Bank exams?
Q3: Where can I find Hindi current affairs for Sarkari exams?
Make sure to follow our daily and weekly updates to stay on top of GK and current affairs. This will help you succeed in UPSC, APSC, Bank exams, and other Sarkari Naukri opportunities.