Get a quick overview of the 20th May 2023 Daily Current Affairs in Hindi & English. Stay informed with the latest news and events.
Welcome to the Daily Current Affairs for 20th May 2023. In this edition, we bring you the most important news and events from the day in both Hindi and English languages.
Daily Current Affairs
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1. NTA Postpones CUET 2023 in Manipur to 29th May
CUET 2023 in Manipur has been postponed to 29th May due to the law and order situation. Candidates have the option to change their exam center. NTA is considering temporary centers in Srinagar for candidates outside Jammu and Kashmir. Some candidates in Jammu and Kashmir and Jharkhand may have to take the exam outside their state. The exam will be conducted on 21st May across India for about 14 lakh 99 thousand candidates.
2. CBDT Proposes Changes to Rule 11UA for ANGEL TAX and Excluded Entities Notification
CBDT proposes changes to Rule 11UA regarding ANGEL TAX and plans to notify Excluded Entities. The Finance Act, 2023 introduces an amendment to include consideration received from non-residents for share issuance under section 56(2)(viib) of the Income-tax Act. Rule 11UA will be modified to add additional valuation methods for non-resident investors. Valuation reports from Merchant Bankers within 90 days prior to share issuance will be accepted.
A safe harbor of 10% variation in value will be provided to account for fluctuations. Certain classes of non-resident investors will be exempt from section 56(2)(viib), including government-related investors, regulated banks, specific entities from certain countries, and investment vehicles with over 50 investors. Start-ups covered by the Ministry of Commerce and Industry’s notification will also be exempt.
3. April 2023 Consumer Price Index: Agricultural and Rural Laborers See Increase in Food Prices
The Consumer Price Index for Agricultural and Rural Labourers increased in April 2023, with food prices being the major contributor. The index varied across states, with Tamil Nadu having the highest index and Himachal Pradesh the lowest. West Bengal experienced the highest increase in CPI numbers. The point-to-point rate of inflation and food inflation decreased compared to the previous month and the previous year. The CPI numbers for May 2023 will be released on June 20th, 2023.
4. CSIR-National Physical Laboratory Celebrates World Metrology Day 2023: Measurements Supporting the Global Food System
CSIR-National Physical Laboratory celebrated World Metrology Day 2023 with the theme of “Measurements supporting the global food system.” The event included speeches by notable guests and discussions on the importance of metrology in various sectors, particularly the food industry. The keynote address highlighted the role of digital transformation in ensuring the reliability of quality infrastructure. The release of the World Metrology Day poster and Bharatiya Nirdeshak Dravyas (BNDs®) were also part of the celebration.
5. STARS Program Workshop: Bridging Skill Gap for School-to-Work Transition
Ministry of Education and World Bank organized a workshop on School-to-Work Transition under the STARS Program in Mumbai. The workshop discussed skill gap analysis, vocational education, and integrating vocational studies with school curricula. Industry experts highlighted the need for investment in vocational training to make it aspirational for the youth.
6. RBI Withdraws 2,000 Rupee Notes under Clean Note Policy: Details and Guidelines
The Reserve Bank of India (RBI) is withdrawing 2,000 rupee notes as part of the “Clean Note Policy,” but they will still be considered legal tender. Individuals can deposit or exchange these notes for other denominations at any bank branch. The exchange limit is set at 20,000 rupees starting from May 23, 2023. Regional offices of the RBI will also provide this facility. All banks will accept 2,000 rupee notes for deposit or exchange until September 30, 2023.
7. G20 Tourism Meeting in Srinagar: Focus on Sustainable Development and Film Tourism
The third G20 Tourism meeting will take place from May 22nd to 24th in Srinagar, Jammu and Kashmir. The meeting will focus on tourism as a vehicle for achieving sustainable development goals and a draft National Strategy on Film Tourism will be unveiled. There will be side events on film tourism and ecotourism, along with visits to the Art and Craft Bazaar showcasing local handicrafts. The event aims to promote economic growth, cultural preservation, and sustainable development. Delegates from G20 member countries, invited countries, and international organizations will participate.
8. Indian Naval Ships Visit Da Nang, Vietnam: Strengthening Bilateral Ties and Cooperation
Indian Naval ships Delhi and Satpura visited Da Nang, Vietnam to strengthen bilateral ties and enhance cooperation between the two navies. The visit includes professional interactions, deck visits, social interactions, sports fixtures, and exercises with the Vietnam People’s Navy to share best practices and improve interoperability.
9. NCGG Concludes Capacity Building Programs for Civil Servants of Bangladesh & Maldives, Promoting Asian Century Goals
National Centre for Good Governance (NCGG) concluded three Capacity Building Programmes (CBPs) for civil servants of Bangladesh and Maldives. The programmes aimed to train civil servants in order to make the 21st century the Asian Century. NCGG’s training is aligned with Prime Minister Modi’s policies and focuses on good governance and digital tools. The organization has trained civil servants from various developing countries and plans to expand its capacity in the future. NCGG’s goal is to promote citizen-centric policies and improve the quality of life for all citizens.
10. Underwater Clean-Up and Environmental Awareness: LiFE Movement in Tamil Nadu and Beyond
Scuba divers in Tamil Nadu organized an underwater clean-up in coral reefs and seagrass meadows as part of the LiFE movement, focusing on environmental awareness and action. The clean-up aimed to remove plastic debris and raise awareness about the importance of protecting marine life and habitats. Similar campaigns were carried out in other regions, including an energy-saving program in Uttarakhand and awareness campaigns by various organizations. A seed ball activity was also organized to prepare for tree planting during the monsoon season.
11. POWERGRID FY23 Results: PAT Jumps 11%, Total Income Rises 9%; Substantial Growth in Capacity and Substations
Power Grid Corporation of India Limited (POWERGRID) has reported a profit after tax (PAT) of ₹15,417 crore and a total income of ₹46,606 crore for FY23, showing an 11% and 9% growth respectively compared to FY22. The company added new capacity, sub-stations, and transmission lines during the year. It also posted a PAT of ₹4,320 crore for Q4 FY23, representing a 4% increase over Q4FY22. The company proposed a final dividend and maintained high transmission system availability. POWERGRID has been ranked in the first quadrant for asset maintenance in an international study.
12. Deadline Extended: TRAI Consultation Paper on Low Power FM Radio Broadcasting
The deadline for submitting comments and counter-comments on the TRAI consultation paper titled “Issues Related to Low Power Small Range FM Radio Broadcasting” has been extended. The new deadline for comments is May 22, 2023, and for counter-comments is June 5, 2023. Stakeholders can send their feedback electronically to advbcs-2@trai.gov.in and jtadvbcs-1@trai.gov.in. For more information, contact Shri Anil Kumar Bhardwaj at +91-11-23237922.
13. NTPC Green Energy and HPCL Mittal Energy Collaborate on Renewable Energy and Green Hydrogen Initiatives
NTPC Green Energy Ltd. (NGEL) and HPCL Mittal Energy Ltd. (HMEL) signed an MoU in New Delhi to collaborate in the field of renewable energy. HMEL will source 250 MW of renewable energy from NGEL. They will also explore opportunities in the green hydrogen business and its derivatives. NGEL is a subsidiary of NTPC, India’s largest power utility, focused on renewable energy projects. HMEL is a joint venture between HPCL and Mittal Energy Investments Pvt Ltd., engaged in the refining and petrochemical business.
14. Tax Collection at Source (TCS) Exemption for Small LRS Transactions: Latest Update
From July 1, 2023, small transactions under the Liberalized Remittance Scheme (LRS) will be exempt from Tax Collection at Source (TCS). Payments up to Rs 7 lakh per financial year made using international Debit or Credit cards by individuals will not be subject to TCS. The current beneficial treatment for education and health payments will remain unchanged. The specific changes to the rules will be issued separately.
15. IT Minister Ashwini Vaishnaw Thanks Japan for Interest in Joining UPI: Digital Cooperation and Mutual Recognition of e-ID Discussed
IT Minister Ashwini Vaishnaw expressed gratitude for Japan’s interest in joining India’s UPI payment system and acknowledged their efforts to promote digital cooperation. Japanese Digital Minister Kono Taro mentioned considering joining UPI and exploring mutual recognition of e-ID for increased interoperability.
16. IREDA Urges Proactive Carbon Capture Storage and Sequestration at CEO Round Table in Bangkok
CMD, IREDA emphasizes the importance of carbon capture storage and sequestration (CCSS) to reduce carbon emissions at the CEO round table in Bangkok. India has made significant progress in the renewable energy sector and aims to further reduce emissions and increase non-fossil fuel-based energy resources. Collaboration with other Asian countries and awareness programs are key to achieving optimal CCSS. The round table discussed challenges, including high costs of carbon capture for CCUS projects.
17. G20 RIIG Conference on Sustainable Blue Economy: Challenges, Opportunities, and International Cooperation
G20 RIIG Conference discussed the challenges and opportunities for a sustainable blue economy. India emphasized coastal area development, protection of marine resources, and initiatives like the Deep Ocean Mission. The conference highlighted the need for international cooperation and addressed various aspects of the blue economy. The event had foreign delegates, Indian experts, and participation from G20 countries and international organizations. The Research Ministers declaration was presented, and the conference laid the foundation for the RIIG initiative under India’s G20 Presidency.
18. Japan Shows Interest in Joining India’s UPI System for Enhanced Digital Cooperation
Japan has shown interest in joining India’s Unified Payments Interface (UPI) system to enhance digital cooperation and interoperability. India’s Electronics and IT Minister appreciates the recognition of Prime Minister Narendra Modi’s Digital India vision, which has gained global traction.
19. PM Modi Meets Japanese PM Ahead of G7 Summit in Hiroshima: Strengthening India-Japan Relations and Global Partnerships
PM Modi met with Japanese PM Fumio Kishida ahead of the G7 Summit in Hiroshima. They discussed strengthening the India-Japan relationship, regional cooperation, and global partnerships. PM Modi also unveiled a bust of Mahatma Gandhi as a symbol of peace. The G7 Summit will focus on nuclear disarmament, economic resilience, climate change, and other key priorities. India’s participation reflects its growing recognition in resolving global challenges. Brazil and Indonesia, along with India, are part of the G20 troika countries at the summit.
20. Italian Open Tennis: Elena Rybakina to Face Anhelina Kalinina in Summit Clash Today
Elena Rybakina of Kazakhstan will face Anhelina Kalinina of Ukraine in the summit clash of the Italian Open Tennis tournament. Rybakina advanced to the final by defeating Jelena Ostapenko, while Kalinina beat Veronika Kudermetova. In the men’s singles semifinals, matches will be played between Daniil Medvedev and Stefanos Tsitsipas, and Casper Ruud and Holger Rune.
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