Explore the significant events of August 20, 2023, in this current affairs highlight. From finance amendments to space discoveries, stay updated with EduKraze.
EduKraze Current Affairs Newsletter | August 20, 2023
Welcome to the latest edition of EduKraze’s Current Affairs Newsletter! Stay informed about the most significant events shaping the world today. Here are the key highlights from the past week:
1. Ministry of Finance Introduces Amendment for Perquisite Calculation: The Ministry of Finance has brought in an amendment concerning the calculation of “perquisite” for employees enjoying rent-free or concessional accommodation. The CBDT has updated Rule 3 of the Income-tax Rules, 1961, incorporating new population-based categorizations and reduced perquisite rates. This amendment is based on the 2011 census data, with different categories representing population limits. The revised rates stand at 10%, 7.5%, and 5% for population groups exceeding 40 lakh, between 15 lakh and 40 lakh, and below 15 lakh respectively. The amendment also addresses taxation for employees occupying the same accommodation for multiple years. For detailed information, refer to Notification No. 65/2023 dated 18th August, 2023.
2. Defence Sector Advances towards Self-Reliance: Over the past nine years, India’s defence sector has made remarkable progress towards self-reliance, producing the majority of Armed Forces weapons within the country. At a G-20 Summit, Raksha Mantri Shri Rajnath Singh emphasized the significance of self-reliance for independent global decisions and economic growth. India’s foreign policy has transitioned from non-alignment to issue-based multi-alignment, contributing to economic development and poverty reduction. The country’s digital transformation and anti-corruption efforts were also acknowledged. Shri Rajnath Singh highlighted the vision of a confident and empowered “New India” pursuing development by 2047.
3. “Mela Moments” Exhibition at Rashtrapati Bhavan: The “Mela Moments” Festivals and Fairs Exhibition has commenced at Amrit Udhyan, Rashtrapati Bhavan. Featuring approximately 60 awarded photographs and 22 best pictures selected by a panel of jury members, the exhibition is organized by the Ministry of Culture under Azadi Ka Amrit Mahotsav. This event celebrates traditional fairs and festivals and is coordinated by Lalit Kala Akademi. The exhibition is open to the public until September 17th, 2023, at Amrit Udyan.
4. G20 Health Minister’s Meeting Concludes with Global Health Initiatives: The G20 Health Minister’s Meeting in Gandhinagar concluded by launching the Global Initiative on Digital Health. Discussions focused on enhancing cooperation in the pharmaceutical sector and addressing global health challenges. Collaboration for ensuring access to medical countermeasures, particularly for low-income and low-middle-income countries, was emphasized. The meeting also witnessed the launch of the Climate and Health Initiative by the Asian Development Bank. G20 member countries and international organizations took part in the discussions.
5. INS Vagir’s Maiden Deployment to Australia: Indian Navy’s submarine INS Vagir, a Kalvari-class submarine, is set to arrive in Fremantle, Australia on August 20, 2023. This deployment follows its commissioning in January 2023 and aims to strengthen naval cooperation between India and Australia. Various joint exercises are planned, including Anti-Submarine exercises and joint maneuvers with the Royal Australian Navy’s units on the West Coast.
6. Indian Women Wrestling Team’s Triumph at U-20 World Championships: Prime Minister Shri Narendra Modi congratulated the Indian Women Wrestling team on their victory in the 2023 U-20 World Championships. The team secured the Women Wrestling team title by winning 7 medals, including 3 Golds. Antim’s achievement of retaining her title and becoming the first two-time winner was especially noteworthy. The Prime Minister praised the wrestlers for their dedication, determination, and exceptional talent.
7. G20 Health Minister’s Meeting Outcomes: The G20 Health Minister’s Meeting resulted in the unanimous adoption of an Outcome Document, with the exception of paragraph 22 related to the Chair’s Summary. G20 nations pledged to strengthen the Global Health Architecture by building resilient, equitable, and inclusive health systems. They emphasized access to vaccines and medical countermeasures in LMICs and SIDS, integration of gender perspectives, and addressing long-COVID and vulnerable populations. The meeting’s themes included Health Emergencies Prevention, Pharmaceutical Cooperation, and Digital Health Innovation. G20 nations expressed support for the Global Initiative on Digital Health, climate-resilient health systems, and Traditional and Complementary Medicine. The Outcome Document acknowledged different positions held by Russia and China on paragraph 22.
8. India’s Economic Resilience Amid Challenges: Prime Minister Narendra Modi hailed India’s economy as a beacon of hope during challenging times. He highlighted robust growth and resilience, urging the nation to maintain momentum for universal prosperity. The Prime Minister emphasized the promising future and lauded India’s ability to overcome adversities.
9. Green Hydrogen Standard Introduced by MNRE: The Ministry of New and Renewable Energy (MNRE) introduced the Green Hydrogen Standard for India. The standard defines emission thresholds for hydrogen produced from renewable sources, encompassing both electrolysis-based and biomass-based methods. The standard dictates that Green Hydrogen should have emissions below 2 kg CO2 equivalent per kg H2. The Ministry will establish a comprehensive methodology for measurement, reporting, monitoring, and certification of green hydrogen. The Bureau of Energy Efficiency (BEE) will accredit agencies for monitoring and certification of Green Hydrogen production projects.
10. Documentary “Bay of Blood” Premieres in Dhaka: A documentary film titled “Bay of Blood,” directed by India’s Krishnendu Bose, premiered in Dhaka. The documentary sheds light on the 1971 War of Liberation in Bangladesh. The premiere, organized by the Liberation War Museum, commemorated the 48th death anniversary of Bangabandhu Sheikh Mujibur Rahman.
11. India-Bangladesh Friendship Celebrated: Pranay Verma, the Indian High Commissioner in Bangladesh, participated in a special discussion meeting organized by the India Bangladesh Friendship Society in Dhaka. He highlighted the contributions of Bangabandhu in nation-building and Bangladesh’s liberation.
12. India’s First 3D-Printed Post Office Building Inaugurated: Union Railways Minister Ashwini Vaishnaw inaugurated India’s first 3D-printed post office building in Bengaluru. The building represents Bengaluru’s innovation and showcases the country’s technological advancements. Vaishnaw praised Prime Minister Narendra Modi’s leadership in promoting technology and innovation, leading to the construction of the 3D-printed concrete building.
13. Chandrayaan-3 Discovers Water on Moon’s Surface: Dr. Jitendra Singh, India’s Union Minister, expressed astonishment at Chandrayaan-3’s exclusive findings of water on the Moon’s surface. The mission’s success highlights India’s expertise in lunar exploration and soft landing. Dr. Singh believes that under Prime Minister Modi’s leadership, India could potentially achieve a trillion-dollar space economy through public-private partnerships.
Stay tuned with EduKraze for more insights into the dynamic world of current affairs. Remember, staying informed empowers you to understand, engage, and shape the world around you.
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