Current Affairs - August 1, 2023 Current Affairs

The fiscal deficit in India has reached 25.3% of the full-year target at the end of June 2023. The fiscal deficit represents the gap between the government's total expenditures and revenue, indicating the extent to which the government needs to borrow to meet its expenses. The government aims to reduce the fiscal deficit to 5.9% of the GDP for the financial year 2023-24.

The National Virtual Library of India (NVLI) is established under the National Mission on Libraries (NML) scheme to create an all-inclusive database comprising digital resources about India, accessible in an open-access setting.

The merger of Project Tiger and Project Elephant raised concerns due to the lack of clarity regarding fund allocation, which could potentially affect the conservation efforts of both iconic species - tigers and elephants.

The meeting between India and Moldova for cooperation in agriculture took place on July 31, 2023. The proposal discussed during the meeting was to sign a Memorandum of Understanding (MoU) for cooperation in agriculture. Moldova expressed interest in exporting vegetable oils to India.

Vakkom Purushothaman commenced his political life as an activist of the Revolutionary Socialist Party (RSP) before joining the Congress. Vakkom Purushothaman served as Minister for Agriculture and Labour and later assumed the positions of Lieutenant Governor in Andaman Nicobar, and Governor of Mizoram and Meghalaya.

The growth rate of India's core sector in June was 8.2%, marking a five-month high. The Steel sector demonstrated remarkable growth with an output jump of 21.9% in June. The Index of Industrial Production (IIP) is used for calculating quarterly and advance GDP estimates in India.

The Lunar Orbit Insertion (LOI) is a crucial step that positions Chandrayaan-3 into a lunar orbit after the Trans Lunar Injection (TLI). This step is achieved by activating the spacecraft's liquid engine, allowing it to enter a stable lunar orbit.

The growth rate of digital payments in India during FY23 as indicated by the RBI-DPI is 13.24%. The RBI-DPI index was introduced in March 2018 with a base index value of 100. The RBI-DPI is updated semi-annually with a four-month lag.

Stuart Broad announced his retirement from cricket on July 29, 2023. He has taken 602 wickets in Test matches. He is ranked 8th in the ICC Test bowling rankings as of August 1, 2023, and he is the only English player with two hat-tricks to his name in Test cricket.

The enactment of the Triple Talaq Bill in 2019 made the practice of instant triple talaq a criminal offence, ensuring the protection of rights for Muslim women in India.

Trans Lunar Injection (TLI) is a manoeuvre that propels a spacecraft from Earth's orbit onto a trajectory leading to the Moon, allowing it to break free from Earth's gravitational force and commence its lunar journey.

In Financial Year 2022-23, the Pradhan Mantri MUDRA Yojana (PMMY) sanctioned over 6.23 crore loans. The PMMY offers loans of up to 10 lakh rupees to new and existing micro units or enterprises.

Max Verstappen has achieved eight consecutive wins in the current Formula One season. Max Verstappen is ominously closer to breaking his own Formula One record of 15 wins from the previous year after winning the Belgian Grand Prix.

Aishwary Pratap Singh Tomar secured the Gold medal at the FISU World University Games in Chengdu, China. India's medal tally at the FISU World University Games 2023 is nine gold, three silver, and five bronze medals.

The Russia-Africa Economic and Humanitarian Summit were conducted in Saint Petersburg, Russia, from 27th to 28th July 2023. The primary objective of the Russia—Africa Summit is to foster comprehensive and equitable cooperation between Russia and African nations across various domains, including politics, security, economic ties, science and technology, as well as cultural and humanitarian exchanges.

India will host the 5th World Coffee Conference (WCC) 2023: The International Coffee Organisation (ICO) and the Coffee Board of India co-organize the 5th World Coffee Conference 2023 in Bengaluru from September 25 to September 28. Theme: "Sustainability through Circular Economy and Regenerative Agriculture". Brand ambassador: Tennis player Rohan Bopanna. Primary focus: to promote coffee trade and foster cooperation among coffee-producing and consuming nations.

The new turnover threshold for companies required to generate e-invoices for B2B transactions and exports under the updated GST rule is ₹5 crore. The previous turnover threshold for e-invoicing under the GST rule was ₹10 crore. The CBIC announced the change in the GST e-invoice rule to boost tax collections and compliance under the GST regime.

World Lung Cancer Day is observed every year on August 1. The campaign for World Lung Cancer Day was recognized in the year 2012. World Lung Cancer Day is observed to raise awareness around the deadly disease of lung cancer and to encourage more research to break the stigma surrounding it.

The main aim of the Worldcoin crypto project is to provide users with a verified digital identity using iris scanning through the "Orb" imaging device, ensuring they are real and unique individuals. The Worldcoin crypto project envisions using Worldcoin as a means to distribute universal basic income (UBI) to people worldwide, regardless of their location, income, or status, beyond its digital identity verification aspect.

World Breastfeeding Week is observed from August 1 to August 7 every year to highlight the importance of regular breastfeeding for infant health. The theme for World Breastfeeding Week 2023 is "Let’s make breastfeeding and work, work!" focusing on maternity rights and workplace accommodations that support breastfeeding.