Daily Current Affairs – 1st January 2024

These current affairs today are a part of our daily current affairs. We cover a wide range of topics from state, national, and international news that are relevant and important for competitive exams. Our team prepares today’s current affairs after going through many newspapers, such as The Hindu, Indian Express, PIB, PRS, etc.

Scroll down for current affairs for 1st January 2024.

NEHHDC is establishing Ashtlaxmi Haat in Guwahati to support artists in Northeast India.

• Ashtlaxmi Haat, costing ₹7.6 crore, aims to display handicrafts from the eight states in Northeast India.
• The marketplace will have 24 permanent stalls for craftsmen and accommodation for visiting artists.
• Ashtlaxmi Haat showcases the rich heritage of Northeast India, connecting artisans directly with city buyers.
• The residency part allows craftspeople to stay and sell their authentic handmade items, reaching a larger audience.
• The handicrafts industry in the Northeast employs over 200,000 people, and NEHHDC aims to help small producers in the changing business landscape.

India has set up the 16th Finance Commission, led by economist Dr. Arvind Panagariya. 

• The Indian government establishes the 16th Finance Commission for a 5-year review of fiscal distribution from 2026.
• Dr. Arvind Panagariya, former NITI Aayog Vice Chairman, leads the Commission.
• Constitutional mandate outlined in Article 280(1) includes determining states’ share in central tax revenue, principles for central grants, and measures for local government resource augmentation.
• The 16th Commission, formed in January 2023, focuses on tax devolution, grants-in-aid norms, funds enhancement for rural and urban local bodies, and a review of 2005 Disaster Management Act financing.
• Recommendations for the 2026-2031 fiscal distribution and grants architecture are due by October 2025.
• The Commission’s significance lies in shaping financial contours for India’s economic growth and prioritizing cooperative fiscal federalism.
• Dr. Arvind Panagariya, an eminent economist, leads the policy strategy for responsible and equitable resource allocation.

NEDFi approves ₹766 crore for 5,338 projects in northeast India from January to November 2023.

• NEDFi’s role involves supporting industrial and services projects in the Northeast through financial assistance and advisory services.
• The funding contributes to socioeconomic development in the region.
• Key initiatives include ₹547 crore for micro and small businesses at concessional interest rates.
• ₹41 crore provided through microfinance institutions, benefiting entrepreneurs.
• Direct micro lending of ₹53 crore benefits over 9 lakh individuals.
• Venture capital commitments of ₹98 crore support 67 startups.
• Focus on providing affordable credit, promoting entrepreneurship, and enhancing livelihoods.
• Over 90% of microfinance beneficiaries are women, aiding women empowerment.
• Collaboration with MDoNER for a ₹100 crore North East Venture Fund to support regional startups.
• Partnerships with banks, microcredit organizations, and NGOs for last-mile delivery to remote areas.

India’s Fisheries Minister Parshottam Rupala kicks off the 10th edition of Sagar Parikrama.

• Sagar Parikrama is a coastal journey focused on creating awareness about government welfare schemes for fishermen.
• The 15-day trip covers fishing harbors and villages in Andhra Pradesh and Puducherry.
• Key areas of attention include:
• Informing beneficiaries about existing initiatives.
• Distributing assets provided under fisheries development schemes.
• Enabling credit access through fisher Kisan Credit Cards.
• Addressing grievances and understanding on-the-ground realities.
• The initiative explores sustainable fishing opportunities and acknowledges outstanding efforts.
• Sagar Parikrama reflects the government’s proactive approach to empower the fishing community.
• The outreach drive aims for participatory delivery in the fisheries value chain.
• Officials anticipate that translating training and assets into improved marine productivity will unlock significant growth in the sector.

2024 – A leap year

• A solar year is the time Earth takes for one complete revolution around the sun, totaling 365 days plus 5 hours, 48 minutes, and 46 seconds.
• Early calendars approximated 365 days, but the accumulated extra hours led to a misalignment with Earth’s rotation.
• To correct this, an extra day is added to February every four years to prevent seasons from drifting.
• The concept of a leap year originated in 46 BC under Julius Caesar’s scholars, with the Julian calendar introducing a 366th day every fourth year.
• Over time, a small time difference of 6 hours in calculations versus the actual 5 hours and 48 minutes led to date discrepancies.
• In the 1500s, the calendar had shifted 10 days ahead, prompting a correction in 1582 by removing 10 days.
• Pope Gregory XIII proposed a long-term solution by omitting leap years for most years ending in double zeroes, preventing excessive day buildup.
• Exceptions were made for 400-divisible years like 2000 to maintain accuracy.
• The Gregorian calendar refinement brought the alignment with Earth’s orbit to within 26 seconds, ensuring a more accurate representation of time.

Vice Admiral Kiran Deshmukh assumed the role of Chief of Material in the Indian Navy on January 1, 2024.

• Vice Admiral Deshmukh, an Engineer Officer, graduated from Mumbai’s VJTI university in 1986 and holds a Master’s in Engineering. He is also an alumnus of the Defence Services Staff College.
• Throughout his naval career, he has served in various technical and staff positions related to ships, dockyards, headquarters, and trial commands.
• In his previous role as the Controller of Warship Production and Acquisition, Vice Admiral Deshmukh played a pivotal role in significant milestones, including the commissioning of India’s first indigenous aircraft carrier and the maiden launch of a light combat aircraft from it.
• He contributed significantly to the construction and induction of several frontline battleships and submarines.
• Vice Admiral Deshmukh has been honored with the Vishisht Seva Medal and Ati Vishisht Seva Medal for his exceptional leadership, guiding the Navy towards self-reliance.

The Indian Navy has introduced new shoulder insignia for top Admirals to move away from colonial symbols.

• The redesigned epaulets feature an octagon, inspired by the Navy’s crest, crossed by an Indian sword and telescope.
• Stars above the octagon indicate Admiral ranks, symbolizing the Navy’s connection to its heritage and identity.
• The octagonal shape specifically references the seal of Chhatrapati Shivaji Maharaj, a 17th-century Indian ruler known for his naval warfare against colonial forces.
• Incorporating Shivaji’s royal stamp iconography signifies the Navy’s embrace of its native lineage, moving away from British-era legacy.
• In addition to the shoulder insignia change, the Navy plans to rename officer ranks to reflect Indian traditions rather than following Anglicized conventions.
• These changes support the Prime Minister’s goal of eliminating remnants of a slave mentality from the colonial era.
• The adjustments signify the Indian armed forces reclaiming indigenous customs, culture, and symbols, aiming to inspire soldiers in defending the motherland.

Uttar Pradesh secures the top spot for the third consecutive year in utilizing India’s Inter-Operable Criminal Justice System (ICJS).

• ICJS is a digital platform fostering seamless data sharing among courts, police, prisons, and forensic labs within the criminal justice system.
• The platform facilitates the sharing of essential information like FIRs, trial records, court judgments, prosecution details, and forensic data, ensuring efficient case tracking from filing to conviction.
• Uttar Pradesh leads with over 1.56 crore ICJS entries, significantly surpassing second-ranked Madhya Pradesh.
• The widespread adoption in the state empowers the police with advanced analytics for crime prediction and control, while aiding prosecution and courts with readily accessible data.
• Uttar Pradesh’s usage of the platform extends to criminal photographs/videos, court proceedings recordings, and documentary evidence.
• The ICJS platform enhances efficiency by replacing paperwork and reducing delays through digital data interchange.
• It contributes to the swift administration of justice and supports decision-making for officers through comprehensive analytics.

Today’s Current Affairs MCQs/ GK MCQs 1st January 2024