Daily Current Affairs (20 - Sep - 24)

Daily Current Affairs (20 – Sep – 24)

India is on track to become the third largest economy by fiscal 2030-31, driven by a robust projected annual growth rate of 6.7%, the credit rating agency S&P Global said in its report called India forward Emerging Perspectives.

Factors responsible for becoming the third-largest economy.

7 decisions drive for India’s energy transition for future rise in economy

The Union Cabinet has approved the Chandrayaan-4 mission, which aims to develop technologies for returning to Earth after landing on the moon and collecting lunar samples for analysis.
The total cost of the mission is Rs 2104.06 crore, covering spacecraft development, two LVM3 launches, deep space network support, and special tests for validation. The mission will be completed within 36 months, involving significant participation from industry and academia.
The Cabinet also approved the Venus Orbiter Mission, with a budget of Rs 1,236 crore, of which Rs 824 crore will be spent on the spacecraft.
VOM, scheduled for launch in March 2028, aims to explore Venus’ surface, subsurface, and atmosphere to understand the planet’s evolution. ISRO will develop and launch the spacecraft, and the mission will provide valuable insights into the evolution of Venus and Earth.

India’s Own Space Station for Scientific research to be established with the launch of its first module in 2028 –

The union cabinet chaired by the Honorable Prime Minister Shri Narendra Modi has approved the building of the first unit of the Bharatiya Anatriksh Station (BAS) by extending the scope of Gaganyaan program.
ISRO is working to set up Bharatiya Antariksh Station, India’s own space station. The station will be assembled in a phased manner and ISRO aims to establish it by 2035.
The Indian space station is currently in the ‘conceptualisation phase’, under which the overall architecture, number, and types of modules that are needed for the station have been studied and identified.
Approval by the cabinet is given for development of the first module of Bharatiya Antariksh Station (BAS-1) and undertake missions to demonstrate and validate various technologies for building and operating BAS.

The Union Cabinet has approved the continuation of the PM-AASHA schemes to ensure fair pricing for farmers and manage price volatility of essential commodities.
PM-AASHA (Pradhan Mantri Annadata Aay Sanrakshan Abhiyan) aims to provide remunerative prices to farmers, ensuring they receive a guaranteed Minimum Support Price (MSP) for their produce.
Price Deficit Payment Scheme (PDPS):Compensates farmers when market prices fall below the MSP. The central government covers the difference, limited to 15% of MSP.
Price Support Scheme (PSS):Provides market intervention to purchase crops directly at MSP.
Price Stabilisation Fund (PSF):Aims to stabilize prices of essential commodities.
Market Intervention Scheme (MIS):Focuses on managing price volatility through strategic purchases.

India has officially informed Pakistan about changes it wants to make to the Indus Waters Treaty (IWT), citing unexpected and significant reasons.
This notice was given under Article XII(3) of the treaty, which allows changes to be made through a new agreement between the two countries. India had already sent a notice in January 2023 because of ongoing arguments about Indian hydropower projects.
The Indus Waters Treaty was signed in 1960 to help India and Pakistan share water from the Indus River and its tributaries.
Under this treaty, India can use the Eastern Rivers (Beas, Ravi, Sutlej), and Pakistan controls the Western Rivers (Indus, Chenab, Jhelum).

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Daily Current Affairs (20 – Sep – 24)