IMPORTANT DAYS
International Volunteer Day 2024 celebrated on December 5.
• International Volunteer Day is celebrated annually on December 5th.
• It recognizes the dedication of individuals who contribute their time, skills, and energy to improve the world.
• United Nations Volunteers promote peace, justice, and equality in 169 countries worldwide.
• The day was established by the UN in 1985 to honor volunteers' efforts.
• Volunteers help foster a culture of service in their communities.
• They play a vital role in connecting generations and supporting sustainable development.
• Their work creates a more peaceful, healthier, and compassionate world for all.
World Soil Day 2024 observed on December 5.
• World Soil Day is observed annually on 5 December to raise awareness about the importance of soil.
• The theme for World Soil Day 2024 is “Caring for Soils: Measure, Monitor, Manage”.
• The first official World Soil Day took place in 2014, following a UN resolution.
• In 2013, the UN General Assembly declared 5 December as World Soil Day.
• The day highlights the critical need for sustainable soil management to support ecosystems.
• Soil plays a vital role in providing nutrients for plants and supports all life on Earth.
• Healthy soil reduces climate change by increasing soil organic carbon.
• Over 95% of food production relies on soil and water, crucial for plant nutrient absorption.
APPOINTMENTS
Devendra Fadnavis took oath as Chief Minister of Maharashtra for the third time
• Devendra Fadnavis took oath as Maharashtra's Chief Minister for the third time on December 5.
• The oath was administered by Governor C P Radhakrishnan at Azad Maidan, Mumbai.
• Fadnavis was unanimously elected as the BJP legislature party leader on December 4.
• Along with Shiv Sena's Eknath Shinde and NCP's Ajit Pawar, Fadnavis met the Governor to form a new government.
• The Mahayuti alliance won 232 seats in the recent elections.
• BJP secured 132 seats, Shiv Sena (Shinde) won 57, and NCP (Ajit Pawar) got 41 seats.
• This marks Fadnavis' third term as Chief Minister of Maharashtra.
• He previously served as Chief Minister in 2014 for the first time.
Justice Murdu Nirupa Bindushini Fernando became the 48th Chief Justice of Sri Lanka.
• Justice Murdu Nirupa Bindushini Fernando is the 48th Chief Justice of Sri Lanka.
• She is the second woman to hold the position of Chief Justice in Sri Lanka.
• Her appointment was approved by the Constitutional Council.
• She succeeded Chief Justice Jayantha Jayasuriya, following his retirement.
• In 1997, she was appointed Deputy Solicitor General.
• She became Additional Solicitor General in 2014.
• She also served as the Senior Additional Solicitor General.
LEGAL NEWS
Indian Airforce Bill 2024 has been approved by the Parliament.
• The Indian Airforce Bill 2024 was approved by Parliament on December 5, after it was passed by the Rajya Sabha.
• Earlier, the Lok Sabha passed the bill during the monsoon session this year.
• The Bill gives the Central Government the authority to regulate aircraft design, manufacture, maintenance, sale, export, and import.
• It ensures the safety of aircraft operations through effective rule-making.
• The Bill also allows the Government to set rules for investigating air accidents and incidents.
• The government aims to elevate India’s aviation sector and transform the country into an aviation hub.
• The bill supports expanding air travel networks by bringing more people into the system.
• It focuses on creating jobs and stimulating economic growth in the aviation industry.
• Government initiatives have boosted aviation, with the number of airports growing from 74 in 2014 to 157 by 2024.
BANKING, ECONOMY AND FINANCE
India’s external debt reached $646.79 billion in 2023, increasing by $31 billion.
• According to the World Bank International Debt Report 2024, India's total external debt climbed by $31 billion to $646.79 billion in 2023.
• Interest payments on external debt rose from $15.08 billion in 2022 to $22.54 billion in 2023.
• Short-term debt stocks slightly declined to $126.32 billion in 2023.
• Long-term debt stocks saw a 7% rise, totaling $498 billion in 2023.
• External debt as a percentage of exports was 80% in 2023.
• Debt servicing accounted for 10% of India’s exports in 2023.
• Net stock inflows increased to $46.94 billion in 2023.
• Net debt inflows for 2023 totaled $33.42 billion.
AWARDS
Jasleen Kaur won Turner Prize for ‘Alter-Altar’ Exhibition.
• Jasleen Kaur, a Scottish artist, won the Turner Prize for her exhibition Alter-Altar.
• Her installation featured a Ford Escort car adorned with a large doily.
• Kaur triumphed over finalists Pio Abad, Claudette Johnson, and Delaine Le Bas.
• The Turner Prize is a prestigious UK award for contemporary art, established in 1984.
• It is awarded annually to a British artist for outstanding exhibitions or projects.
• Previous winners include renowned artists like Anish Kapoor, Damien Hirst, and Steve McQueen.
• Last year’s winner was Jesse Darling, recognized for sculptures addressing societal breakdown.
SUMMIT AND CONFERENCE
CII organized 9th International Conference on Waste to Worth.
• CII hosted the 9th International Conference on Waste to Worth, focusing on technology, innovation, and global collaboration to tackle waste issues.
• The second edition of the National Circular Economy Framework (NCEF) was launched at the conference.
• NCEF, developed by CII, helps industries design sustainable business strategies.
• The NCEF was unveiled by Bhupender Yadav, Minister of Environment, Forests, and Climate Change, and Masood Mallick, Chairman of CII’s National Committee on Waste to Worth Technologies.
• The framework offers a roadmap to transform cities into sustainable urban centers.
• NCEF encourages innovation by supporting lifecycle assessments and circular economy principles.
• The conference highlighted the importance of using technology and creativity to solve waste management challenges.
• The NCEF aims to foster collaboration and sustainable practices across industries.
INTERNATIONAL NEWS
Russian President Vladimir Putin approved record-breaking spending on the military.
• Vladimir Putin has approved a record defense budget for 2025.
• The Russian government has allocated $126 billion for national defense.
• Military spending now accounts for 32.5% of the total government budget.
• This year's defense budget is $28 billion higher than last year’s.
• The extended war in Ukraine is a key driver behind increased military spending.
• The Ukraine conflict is Europe's largest military war since World War II.
• Ukraine continues to depend on substantial military aid from Western allies, including the U.S.
SPORTS
India hockey team won the Men's Junior Asia Cup 2024.
• India clinched their fifth Men's Junior Asia Cup title on December 4, 2024, defeating Pakistan 5-3 in the final in Muscat, Oman.
• This victory marks India's fifth title in the tournament, with previous wins in 2023, 2015, 2008, and 2004.
• Hockey India announced cash rewards for the team: Rs 2 lakh for each player and Rs 1 lakh for each support staff member.
• India first won the Men's Junior Asia Cup in 2004, and they have since dominated the tournament.
• The Indian junior men's hockey team's stellar performance secured a historic title defense in the 2024 edition.
• The 2024 final saw India defeat arch-rivals Pakistan 5-3 to claim the top spot.
• The team's consistent excellence has made them a dominant force in junior hockey in Asia.