Daily Current Affairs 05 December 2023, Important News Headlines (Daily GK Update)

Read the most important current affairs of 05 December 2023. Today Current Affairs covers the headlines on ‘Aarogya Maitri Cube,’ ‘One Province, One Policy,’ Word of the Year, “Rizz”, World Soil Day 2023.

Top 23 Current Affairs and News Headlines of 05 December 2023

National News

1.PM Modi Announces Renaming of Ranks in Indian Navy

• In a significant move, Prime Minister Narendra Modi declared the Indian government’s decision to revamp the ranks within the Indian Navy, aiming to eliminate colonial influences and infuse a distinct Indian cultural identity.
• The Prime Minister made this historic announcement during the Navy Day function held at the iconic Sindhudurg Fort in Maharashtra. The choice of venue itself underscores the commitment to embracing India’s cultural roots, as Sindhudurg Fort holds historical significance tied to the Maratha empire.
• PM Modi emphasized that the restructuring of naval ranks is part of a broader initiative to shed colonial military legacies. The renaming process is intended to reflect India’s rich cultural heritage, aligning the naval hierarchy more closely with indigenous traditions.

2.World’s First Portable Hospital, ‘Aarogya Maitri Cube’, Unveiled In Gurugram

• India has unveiled the world’s first portable disaster hospital, Aarogya Maitri Cube, a groundbreaking facility in Gurugram that can be airlifted and consists of 72 cubes. This extraordinary endeavor is a component of Prime Minister Narendra Modi’s ambitious “Project BHISHM” (Bharat Health Initiative for Sahyog Hita and Maitri), unveiled in February 2022.
• The heart of this innovative disaster hospital lies in its 72 cubes, each containing an array of essential equipment and supplies. Among these are an operation theatre, a mini-ICU, ventilators, blood test equipment, an X-ray machine, a cooking station, food, water, shelter, a power generator, and more.
• One of the most remarkable features of the Aarogya Maitri Cube is its ability to handle a wide range of severe injuries. This include 40 bullet injuries, 25 major burns, around 10 head injuries, long limb fractures, spinal injuries, chest injuries, and spinal fractures.

State News

3.PM Modi Unveils Shivaji Maharaj Statue at Rajkot Fort in Maharashtra

• On December 4, 2023, Prime Minister Narendra Modi marked a historic moment by unveiling the statue of Chhatrapati Shivaji Maharaj at Rajkot Fort in Maharashtra’s Sindhudurg district.
  
• Chhatrapati Shivaji Maharaj, the visionary leader of the Maratha empire, was renowned for his strategic prowess in constructing coastal and sea forts. The unveiling ceremony highlighted his significant contribution to India’s maritime history, with a special focus on the iconic Sindhudurg Fort.
• Prime Minister Modi shed light on how the Maratha empire founder’s seal served as inspiration for the new naval ensign. This ensign was officially adopted last year during the commissioning of India’s first indigenous aircraft carrier, INS Vikrant.

4.‘Hump WWII’ Museum Opens In Arunachal With US Aircraft

• In a poignant ceremony held in Pasighat, the East Siang district headquarters of Arunachal Pradesh, a museum dedicated to the fallen airmen of the Allied forces during World War II was inaugurated on November 29.
• The Hump WWII Museum stands as a tribute to the aviators who navigated the perilous air route between north-eastern Assam and Yunnan in China, nicknamed ‘The Hump.’
• The air route earned its moniker due to the formidable challenges faced by Allied pilots flying from airfields in Assam to those in Yunnan. Navigating through deep gorges and mountains rising beyond 10,000 feet, these pilots played a crucial role in the war effort, underlying perilous journeys to transport supplies such as fuel, food and ammunition.

5.Bihar Garners International Recognition At COP-28 For Afforestation Efforts

• The actions undertaken by the Bihar government in the field of afforestation, particularly through the Jal-Jeevan-Hariyali Abhiyan (Rural Development Department), received praise from the international community at the ongoing United Nations Climate Change Conference of the Parties (COP-28) in Dubai.
• During a dedicated session on “Building Climate Resilience” at the Indian Pavilion, a detailed presentation titled “Afforestation Activities in Bihar to Combat Climate Change” was delivered. The larger policy framework and inter-departmental coordination under Jal-Jeevan-Hariyali Abhiyan was highlighted.
• Bihar is among the first States in the country to introduce a green budget, aiming to allocate budgetary provisions to address climate change, conserve the ecosystem, and protect biodiversity.” This initiative showcases the state’s commitment to incorporating environmental considerations into its financial planning.

Defence News

6.GRSE Delivers India’s Largest Survey Vessel To Navy

• The Garden Reach Shipbuilders and Engineers (GRSE) Ltd delivered the largest-ever survey vessel built in the country, INS Sandhayak, to the Indian Navy. The 110-meter-long vessel is the first in a series of four survey ships being constructed by GRSE for the navy, marking a crucial milestone in the indigenous shipbuilding industry.
• The Sandhayak-class vessels boast comprehensive capabilities, making them invaluable assets to the Indian Navy. These survey ships can conduct full-scale coastal and deep-water hydrographic surveys, providing crucial data for port and harbor approaches, navigation channels, and routes.
• In addition to their primary survey functions, these vessels exhibit multi-role capabilities. Each ship can carry a helicopter, participate in low-intensity combat scenarios, and function as hospital ships.

Economy News

7.India’s Fiscal Progress: GST Collections Surge to Record High in FY 2023-24

• Finance Minister Nirmala Sitharaman reported a consistent upward trend in India’s Goods and Services Tax (GST) collection, emphasizing the fiscal year’s remarkable achievements in a Lok Sabha session.
• GST collection surpassed the Rs 1.50 lakh crore mark every month in the current fiscal year. April 2023 recorded a historic high, reaching Rs 1.87 lakh crore in GST collection. In 2020-21, the average monthly GST collection was Rs 94,734 crore.
• The average gross monthly GST mop-up for FY 2023-24 stands at Rs 1.66 lakh crore, reflecting an 11% YoY increase from the previous fiscal year. Monthly average GST collection for 2022-23 showed a substantial growth of 30%, following a 22% YoY increase in 2021-22.

8.India’s Robust Construction Sector Propels Economic Growth Amid Housing Boom

• India’s GDP data for July-September has showcased the construction sector’s stellar performance, growing by an impressive 13.3% year-on-year.
• This surge, the best in five quarters, has propelled India’s overall economic expansion to a forecast-beating 7.6%, positioning it as one of the fastest-growing major economies globally.
• The boom follows six years of economic challenges, including debt and pandemic-induced downturns. Contributing factors include the rise in incomes for many Indians and strong population growth.
• Big cities in India are grappling with a severe housing shortage, with an estimated 19 million units deficit in urban housing last year. This shortage is expected to double by 2030, creating a compelling demand for housing solutions.

9.Unemployment Trends in Indian States: A Closer Look at July-September 2023

• In the recent Periodic Labour Force Survey (PLFS) conducted by the National Sample Survey Office (NSSO), concerning data has emerged regarding unemployment rates in the age group of 15 to 29 years in urban areas during the July-September quarter of 2023.
• The overall unemployment rate in the 15-29 age group in urban areas across the country is 17.3%, with females experiencing a higher rate of 22.9% compared to males at 15.5%. This data provides a snapshot of the employment landscape, highlighting the challenges faced by the youth in various states.
• Himachal Pradesh stands out with the highest overall unemployment rate at 33.9%, making it the state with the most significant joblessness challenge in the 15-29 age group in urban areas during the specified quarter. Rajasthan closely follows with a rate of 30.2%.

10.China Adopts ‘One Province, One Policy’ Approach to Financial Risk Management

• China’s National Financial Regulatory Administration, led by Li Yunze, is introducing a groundbreaking approach to tackle financial risks at the provincial level. This move comes in the wake of concerns about the country’s economic struggles, exacerbated by the lingering effects of restrictive Covid Zero policies and a persistent property.
• In a recent interview, Li Yunze emphasized the need for a more targeted and flexible approach to financial risk management. Instead of adopting a one-size-fits-all strategy, provinces are urged to formulate their own policies tailored to address specific challenges and risks.
• According to Li, risk prevention and management remain perpetual priorities. The National Financial Regulatory Administration will intensify efforts to identify individuals causing significant risks. Additionally, there is a commitment to deepen the rectification of chaos and disruptive behavior in financial markets.

11.India’s Services PMI Hits One-Year Low in November

• The Services Purchasing Managers’ Index (PMI) in India revealed a decline to 56.9 in November, marking a one-year low compared to October’s 58.4. However, the sector maintained its expansion streak for the 28th consecutive month, remaining above the crucial 50-point threshold that separates expansion from contraction.
• The composite PMI also saw a one-year low at 57.4, down from October’s 58.4. A steeper decline was mitigated by an increase in the manufacturing index, rising to 56.0 from the previous month’s eight-month low of 55.5.
• Despite fading optimism due to rising inflation expectations, the current rates of expansion in both services and manufacturing sectors are considered healthy. The outlook for business activity remains bright, supported by strong demand for services.

Banking News

12.RBI Cancels License Of Kolhapur Based Shankarrao Pujari Nutan Nagari Sahakari Bank Limited

• The Reserve Bank of India (RBI) cancelled the license of Kolhapur-based (Maharashtra) Shankarrao Pujari Nutan Nagari Sahakari Bank Limited, Ichalkaranji. The apex bank instructed the bank to cease all banking operations, effective from the close of business on December 4, 2023.
• In a statement, the RBI declared that Shankarrao Pujari Nutan Nagari Sahakari Bank Limited is now prohibited from conducting the business of ‘banking,‘ which encompasses the acceptance and repayment of deposits as defined in Section 5(b) read with Section 56 of the Banking Regulation Act, 1949.
• In the event of liquidation, the RBI assured that every depositor would be entitled to receive a deposit insurance claim amount of up to ₹5,00,000 from the Deposit Insurance and Credit Guarantee Corporation (DICGC), as per the provisions of the DICGC Act, 1961.

Business News

13.Bajaj Group Becomes Fifth Conglomerate to Breach ₹10 Lakh Crore in Mcap

• On December 4, 2023, the Bajaj Group achieved a significant milestone by surpassing Rs.10 lakh crore in market capitalization, making it the fifth business houses to attain this feat. This elite club already includes prominent names like Tata, Reliance Industries, HDFC Bank and the Adani Group.
• The market valuation of the Pune-based Bajaj Group has witnessed a remarkable 41% surge since April, underscoring its robust performance in the financial landscape. Bajaj Auto emerged as a major contributor, posting a staggering 63% increase during the same period.

14.Bharti Airtel Becomes the 8th Company to Surpass ₹6 Lakh Crore Mcap

• Bharti Airtel, one of India’s leading telecommunications companies, achieved a significant milestone by becoming the 8^th company to surpass Rs.6 lakh crore on December 4.
• This surge was attributed to the positive market sentiment following the Bharatiya Janata Party’s resounding victory in state elections. The company’s stock witnessed a 2% increase during Monday’s trade, contributing to a year-to-date gain of 28%.
• Bharti Airtel joins the league of other Indian giants, including Reliance Industries, TCS, HDFC Bank, ICICI Bank, HUL, Infosys and ITC, with a market capitalization exceeding Rs.6 lakh crore.

Important Days News

15.World Soil Day 2023

• Every year on December 5, people worldwide unite to commemorate World Soil Day (WSD), an occasion dedicated to recognizing the pivotal role soil plays in sustaining life on Earth.
• This annual event serves as a poignant reminder of the intricate relationship between soil, plants, animals, and humans, underscoring the critical need to preserve and protect this invaluable resource.
• The United Nations has declared the theme for World Soil Day 2023 as ‘Soil and water, a source of life.’ This theme underscores the vital link between soil and water, which collectively contribute to over 95 percent of our food production.

16.International Volunteer Day 2023

• International Volunteer Day (IVD) is an annual event observed on December 5th, celebrating the immense contributions of volunteers worldwide.
• Established by the United Nations General Assembly in December 1985, IVD not only recognizes the selfless efforts of volunteers but also emphasizes their role in achieving the Sustainable Development Goals (SDGs) and building resilient communities.
• The 2023 theme, “The Power of Collective Action: If Everyone Did.” From ensuring food and education for everyone to fostering a clean environment, good health, inclusive societies, and peace, the theme emphasizes the enormous renewable resource that volunteerism represents for solving social, economic, and environmental problems globally.

Schemes News

17.Mandatory Display of PMAY-U Logo on Houses Ensures Transparency and Accountability

• The Union Housing and Urban Affairs Ministry has mandated the display of the Pradhan Mantri Awas Yojana – Urban (PMAY-U) logo and beneficiary details on all houses constructed under the scheme.
• The directive applies to all States and Union Territories, aiming to streamline the implementation of the flagship mission of the Government of India.
• The Ministry has emphasized that the display of the PMAY-U logo should be standardized, and agencies are strictly advised not to modify it in any manner during the implementation process.
• The mandatory display of the PMAY-U logo on houses signifies a crucial step towards enhancing transparency and accountability in the implementation of urban housing schemes. This move not only establishes a standardized visual identity but also reinforces the government’s commitment to providing dignified housing for all.

Agreements News

18.Ujjivan SFB partners with Water.org To Offer Water, Sanitation And Hygiene Loans

• Ujjivan Small Finance Bank (Ujjivan SFB) has recently unveiled a strategic partnership with Water.org. This collaboration holds significant promise for addressing the pressing issue of water and sanitation in India, which boasts the world’s highest population.
• Through the Water.org and Ujjivan SFB partnership, the bank aspires to reach 65,000 households over the next three years, providing them with affordable loans for the construction of safe drinking water and sanitation facilities.
• The collaboration will extend beyond mere financial support, with Water.org offering technical assistance, market assessments, development of Information, Education, and Communication (IEC) materials, as well as monitoring and evaluation support.

Awards News

19.Olympian M. Sreeshankar Clinches 35th Jimmy George Foundation Award

• In a celebration of athletic excellence, Olympian M. Sreeshankar has been honored with the prestigious 35th Jimmy George Foundation Award for emerging as the best sportsperson of Kerala.
• This recognition comes as a testament to Sreeshankar’s outstanding achievements, including securing the long jump silver medal in both the Commonwealth Games and Asian Games.
• The Jimmy George Foundation Award, now in its 35th edition, is a distinguished accolade in Kerala’s sporting community. The award comprises a cash prize of Rs 1 lakh and a plaque, symbolizing the recognition of exceptional contributions to the field of sports.

20.ISRO and Team Chandrayaan-3 Honoured for Outstanding Contribution to Brand India

• In a historic moment on August 23, India’s Chandrayaan-3 achieved remarkable lunar landing, making India the first country to reach the Lunar South Pole. The successful mission, a testament to India’s scientific prowess, has solidified its status as a space superpower.
• The Indian Space Research Organization (ISRO) and the Chandrayaan-3 team were recently honored with the “Outstanding Contribution to Brand India” award at the 19^th India Business Leader Awards (IBLA), held in Mumbai on December 2.
• The “Outstanding Contribution to Brand India” award bestowed upon ISRO and the Chandrayaan-3 team at the IBLA is a recognition of their remarkable achievements in space exploration. This acknowledgment not only celebrates the scientific success but also underscores the positive impact on India’s global image.

21.Sheetal Devi Wins Best Young Athlete At APC Conference

• Indian para archer Sheetal Devi emerged victorious at the fourth edition of the Asian Awards in Riyadh securing the prestigious title of Best Youth Athlete.
• Devi’s remarkable performance at the Hangzhou 2022 Asian Para Games in October played a pivotal role in earning her the coveted award. The 16-year-old para archer clinched gold in both the individual and team compound events, further adding a silver medal in the compound doubles category to her impressive tally.
• In a testament to her skill and consistency, Sheetal Devi achieved the world number one ranking in compound women this year. This recognition solidifies her as a force to be reckoned with in the world of para archery.

Obituaries News

22.Dinesh Phadnis, who played Fredericks in CID passed away

• Actor Dinesh Phadnis, renowned for his portrayal of the funny and innocent CID officer Fredericks on the popular Sony TV show CID, has passed away. His demise was confirmed by his co-star Dayanand Shetty, who clarified that Dinesh suffered from liver damage and not a heart attack.
• Dinesh Phadnis played the role of Fredericks, providing comic relief in CID, a show that initially lacked humor. Dinesh’s portrayal of Fredericks added a touch of lightness to the intense crime-solving narrative of CID, earning him great appreciation from the audience.
• He also featured in the Bollywood movies Sarfarosh and Super 30, in addition to contributing as a writer for a Marathi film. In addition to his roles in shows like CID: Special Bureau, Adaalat, Taarak Mehta Ka Ooltah Chashmah, and CIF, Dinesh Phadnis made cameo appearances.

Miscellaneous News

23.“Rizz” Crowned Oxford University Press Word of the Year by Generation Z

• Oxford University Press has unveiled “Rizz” as its Word of the Year, reflecting the linguistic choices of Generation Z. The term, used to describe someone’s ability to attract or seduce another person, triumphed over finalists like “Swiftie,” “situationship,” and “prompt” in the annual decision made by language experts at the renowned publisher of the Oxford English Dictionary.
• The selection of “rizz” as the Word of the Year by Oxford University Press highlights the dynamic nature of language, especially in the realm of Generation Z. This linguistic evolution serves as a testament to the ever-changing landscape of communication, reflecting the unique ways in which younger generations shape and redefine the words that encapsulate their experiences, perspectives, and interactions in the modern world.

05 December 2023 CURRENT AFFAIRS | ALL EXAMS IMP. CURRENT AFFAIRS | ASHISH GAUTAM SIR

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