IMPORTANT DAYS

World Milk Day celebrated on June 1

• World Milk Day is celebrated annually on June 1.

• The Food and Agriculture Organization (FAO) of the United Nations established this day in 2001 to highlight the significance of milk as a global food and to honor the dairy industry.

• The theme for this year emphasizes the crucial role of dairy in providing quality nutrition to nourish the global population.

• According to the Food and Agriculture Organization Corporate Statistical Database (FAOSTAT), India ranks as the world's largest milk producer.

• World Milk Day has been observed since its inception in 2001.

STATE NEWS

Sikkim High Court introduces menstrual leave policy for its women employees

• The Sikkim High Court has introduced a groundbreaking menstrual leave policy, becoming the first in India to do so.

• Under this policy, female employees in the court's registry are entitled to 2-3 days of menstrual leave each month.

• Importantly, this leave is granted based on the recommendation of the High Court's Medical Officer and does not count against the employee's overall leave balance.

• The Sikkim High Court, which is the smallest high court in the country, comprises three judges and nine officers in its registry, including one female officer.

NATIONAL NEWS

Government of India Launches BIMReN Initiative for PhD Students

• The Government of India has introduced the BIMReN initiative, a collaborative effort between the Ministry of External Affairs and the Bay of Bengal Programme-Inter Governmental Organization (BOBP-IGO).

• This initiative aims to promote the sustainable development of the blue economy by fostering connections among researchers and research institutions in BIMSTEC countries.

• BIMReN will enable PhD students from BIMSTEC countries to undertake their doctoral research in India. Researchers and academic institutions focused on fisheries, marine, or ocean sciences across the BIMSTEC region will benefit from this program.

• Under this initiative, BIMSTEC member countries will collaborate on projects with grants of up to INR 5 million each, over a tenure of 24 months.

• Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC): BIMSTEC is an international organization comprising South Asian and Southeast Asian countries, including Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand.

• Established on June 6, 1997, through the Bangkok Declaration, its headquarters are located in Dhaka, Bangladesh.

BANKING, ECONOMY AND FINANCE

India’s Fiscal Deficit in FY24

• India's fiscal deficit for FY24 amounted to Rs 16.54 lakh crore, falling short of the budgetary target of Rs 17.86 lakh crore.

• Data from the Comptroller General of Accounts reveals that the fiscal gap is now 95.3% of the projected target.

• The central government's fiscal deficit for FY24 was 5.6% of GDP, which is lower than the revised estimate of 5.8%. Net tax receipts for the center exceeded expectations, reaching Rs 23.27 lakh crore, or 100.1% of the year's target.

• Total expenditure was Rs 44.43 lakh crore, representing 99% of the targeted spending for FY24.

• The government's capital expenditure on infrastructure projects stood at Rs 9.49 lakh crore.

• In April 2024, the fiscal deficit was Rs 2.1 lakh crore, amounting to 12.5% of the FY24 target.

INDEX AND RANKING

NSE Indices Limited Launches Nifty EV & New Age Automotive Index

• NSE Indices Limited has introduced the Nifty EV & New Age Automotive Index, which is designed to track the performance of companies in the electric vehicle (EV) sector. This index also monitors businesses involved in the development of new-age automotive vehicles and related technologies.

• As a new thematic index, it has a base date of April 2, 2018, with a base value set at 1000. The index will be reconstituted semi-annually and rebalanced on a quarterly basis, marking it as the country’s first-ever electric vehicle (EV) index.

• This new index will serve as a benchmark for asset managers and will be a reference index for passive funds, such as Exchange Traded Funds (ETFs), index funds, and structured products.

• Currently, NSE hosts 17 thematic indices, including Nifty Commodities, Nifty India Consumption, Nifty CPSE, Nifty Energy, and Nifty Infrastructure.

AWARDS

NIMHANS Bengaluru Wins Nelson Mandela Award for Health Promotion 2024

• The World Health Organization (WHO) has honored the National Institute of Mental Health & Neuro Sciences (NIMHANS) in Bengaluru with the Nelson Mandela Award for Health Promotion for 2024. Union Health Minister Dr. Mansukh Mandaviya congratulated NIMHANS, highlighting the award as a testament to India's efforts in inclusive healthcare.

• This recognition comes as NIMHANS celebrates its 50th anniversary and the 70th anniversary of its predecessor, the All India Institute of Mental Health (AIIMH).

• The Nelson Mandela Award for Health Promotion, established by WHO in 2019, acknowledges individuals, institutions, and organizations that have made significant contributions to health promotion.

• This year, NIMHANS has been recognized for its outstanding work in the field of mental health.

MISCELLANEOUS

TIME Magazine Names Reliance Industries Limited (RIL) Among World's Most Influential Companies

• TIME magazine has recognized Reliance Industries Limited (RIL) as one of the World’s Most Influential Companies for the second time.

• RIL has been honored in the Titans category, underscoring its transformative impact across various sectors in India and beyond.

• Remarkably, Reliance is the only Indian company to be featured twice on this prestigious list. Previously, its subsidiary, Jio Platforms, was included in the inaugural TIME 100 Most Influential Companies List in 2021, where TIME described Reliance as India’s Juggernaut and the country's most valuable company, with a market capitalization exceeding $200 billion.

• In the 2024 edition of TIME's 100 Most Influential Companies list, other notable Indian companies include Tata Group, also in the Titans category, and the Serum Institute of India in the Pioneers category.

• The Serum Institute is renowned for its groundbreaking work in vaccine manufacturing.

• The TIME 100 Most Influential Companies list of 2024 marks the fourth annual edition, celebrating businesses making significant global impacts.