Daily Current Affairs 17th August 2024, Important News Headlines (Daily GK Update)

National News

Government Reduces Crude Oil Tax, Eliminates Diesel and ATF Levies

India has lowered the windfall tax on petroleum crude oil to Rs 2,100 per metric tonne, effective from August 17, down from Rs 4,600 per tonne. This change follows a previous reduction to Rs 4,600 on July 31. Additionally, the government has removed the windfall tax on the export of diesel and aviation turbine fuel (ATF).

Union Cabinet Approves Major Airport Projects in West Bengal and Bihar

The Union Cabinet has approved significant airport infrastructure projects in West Bengal and Bihar, with a total investment of around ₹2,962 crore. These projects aim to improve air travel facilities and meet the increasing passenger demand in these areas.

Six New Parliamentary Committees For 2024-25: Lok Sabha Speaker Constitutes

On August 17, the Lok Sabha Speaker announced the formation of six new Parliamentary Committees, including the Public Accounts Committee (PAC) which reviews government spending. Ganesh Singh, a BJP MP from Satna, Madhya Pradesh, has been appointed as the chairperson of the Committee on Welfare of Other Backward Classes.

International News

UN Human Rights Team To Visit Bangladesh To Investigate Human Rights Violations

A United Nations human rights team will visit Dhaka next week to discuss with the interim government of Bangladesh the investigations into human rights violations during the recent unrest in the country.

Economy News

Urban Unemployment Rate Declines to 6.6% in Q1 FY25

India’s urban unemployment rate has slightly decreased to 6.6% in the first quarter of FY25 from 6.7% in the fourth quarter of FY24, according to the Periodic Labour Force Survey (PLFS) data released by the National Statistical Office (NSO). This decline is mainly due to a drop in the male unemployment rate, although the female unemployment rate has risen to 9%, the highest in four quarters.

Gender Disparities in Financial Inclusion: Insights from NSO Data

The latest “Men and Women” report by the National Statistical Office (NSO) highlights a significant financial disparity between men and women in India. While women own a large number of bank accounts, their share of total deposits is still very low, showing a deep-rooted gender gap in financial status.

Government Initiates Anti-Dumping Investigation into Steel Imports from Vietnam

India has started an anti-dumping investigation into the import of hot rolled flat products from Vietnam. This follows complaints that these products are being sold at very low prices, harming the domestic steel industry. The investigation is in response to requests from major Indian steelmakers like JSW Steel and ArcelorMittal Nippon Steel India (AM/NS India) and aims to address the negative impact of cheap imports under the India-Asean free trade agreement.

Decline in FDI in India’s Food Processing Sector in 2023-24

Foreign direct investment (FDI) in India’s food processing sector has dropped by 30% in the fiscal year 2023-24, totaling Rs 5,037.06 crore, down from Rs 7,194.13 crore in 2022-23. This decline follows a series of fluctuating FDI levels in recent years, with previous figures including Rs 5,290.27 crore in 2021-22 and Rs 2,934.12 crore in 2020-21.

Appointment News

IRS Officer Rahul Navin New Director of Enforcement Directorate (ED)

On August 14, the government appointed acting Enforcement Directorate chief Rahul Navin as the full-time director of the anti-money laundering agency for two years. The Appointments Committee of the Cabinet confirmed his appointment as the new Director of Enforcement in the Directorate of Enforcement.

RBI Approves Salee Sukumaran Nair as MD & CEO of Tamilnad Mercantile Bank

The Reserve Bank of India (RBI) has approved the appointment of Salee Sukumaran Nair as the Managing Director and Chief Executive Officer of Tamilnad Mercantile Bank (TMB) for a three-year term. Nair, a seasoned banker with over 35 years of experience, takes on this role after serving as Deputy Managing Director and Chief Credit Officer at the State Bank of India (SBI). His appointment follows a period during which the bank was temporarily overseen by a three-member Committee of Executives (COEs) due to the RBI’s earlier rejection of proposed candidates.

Schemes

’Ladki Bahin Yojana’ Today For 1 crore Women; Eligibility, Benefits

The Eknath Shinde-led Maharashtra government is set to officially launch the ‘Mukhyamantri Majhi Ladki Bahin Yojana’ today on the occasion of Raksha Bandhan. This initiative aims to provide ₹1500 every month to more than one crore women across the state.