Current Affairs is the most important area in all competitive exams. But the difficulty level is very high. That’s why; many aspirants get confused, how to select Current Affairs for Preparation of Competitive Examination? In this Post, Daily Current Affairs 2 March 2023, we have tried to cover each and every point and also included all important facts from National/ International news that are useful for upcoming competitive examinations such as UPSC, SSC, Railway, State Govt. etc.
So, here is the Top News of the Day for 1 March 2023 to help you prepare the Latest Current Affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.
Current Affairs for Competitive Exam – 2 March 2023
Controller General of Accounts celebrates 47th Civil Accounts Day
47th Civil Accounts Day: The Civil Accounts Day was observed on March 1st to commemorate the 47th anniversary of the Indian Civil Accounts Service (ICAS). The Indian Civil Accounts Service was constituted in 1976, after the the maintenance of Accounts of the Union government was separated from that of Audit. Consequently, the Comptroller and Auditor General of India was divested with this responsibility.
February 2023 Current Affairs Quiz
On March 1, 1976, the President promulgated two Ordinances, the Comptroller and Auditor General’s (Duties, Powers, and Conditions of Service) Amendment Ordinance, 1976 and the Departmentalisation of Union Accounts (Transfer of Personnel) Ordinance, 1976, to begin the process of separating accounts from audit and paving the way for departmentalised accounts. Consequently, every year on 1st of March, organization celebrates its foundation day.
The Office of the Controller General of Accounts is the principal accounting advisor to the Government of India and oversees the country’s payment and accounting system. The organization ensures financial accountability through accounts and helps the executive in decision making. The organization’s mission is to run an efficient, reliable, and accountable budgeting, payment, accounting, and pension disbursement system. It aims to provide a world-class and robust government-wide integrated financial information system and decision support system (DSS) across ministries.
About the Indian Civil Accounts Service:
The Indian Audit & Accounts Service (IA & AS) was initially separated from the ICAS through the promulgation of an Ordinance amending the C & AG’s (Duties, Powers, and Conditions of Service) Amendment Act, 1976. Later, the Departmentalisation of Union Accounts (Transfer of Personnel) Act, 1976 was enacted and came into force on 01 March 1976, following which the ICAS celebrates March 1 every year as the “Civil Accounts Day”. ICAS assists the Government of India in the delivery of financial management services such as payment services, supports the tax collection system, performs government-wide accounting and financial reporting functions, prepares budget estimates, and conducts internal audits in civil ministries of the Union Government.
Important takeaways for all competitive exams:
Comptroller and Auditor General of India: Girish Chandra Murmu
1,49,577 Crore gross GST revenue collected in February 2023
1,49,577 Crore gross GST revenue collected in February 2023: The gross goods and services tax (GST) revenue collection in February 2023 was Rs 1,49,577 crore, an increase of about 12% year on year. With this, the monthly GST revenues remained over Rs 1.4 lakh crore for 12 straight months in a row, the Finance Ministry said in a statement. In February 2022, India’s GST revenue was Rs 1,33,026 crore.
February 2023 Current Affairs Quiz
Trends in GST Collection:
Components of The GST Collected:
Of the total revenue collected, CGST is Rs 27,662 crore, SGST is Rs 34,915 crore, IGST is Rs 75,069 crore (including ₹35,689 crore collected on import of goods) while cess is Rs 11,931 crore (including Rs 792 crore collected on import of goods).
12% Growth Year-on-Year:
The GST revenue for February 2023 is 12% higher than the same month last year, which was Rs 1,33,026 crore, but it is 5% lower than the Rs 1,57,554 crore reported last month.
Highest ever Cess Collected:
In February, revenues from import of goods was 6 percent higher and the revenues from domestic transaction (including import of services) was 15 percent higher than the revenues from these sources during the same month last year. In addition, February saw the highest cess collection of Rs 11,931 crore since the implementation of GST. As February is the shortest month of the year, it usually witnesses a relatively lower collection of revenue.
State Wise Growth In GST Collection:
Among the major states, Tamil Nadu saw a 19% increase in February collections, followed by Karnataka (18%), Maharashtra (15%), Uttar Pradesh (14%), and Gujarat (8%).
The Total Revenue of The Government:
The Centre has also settled Rs 34,770 crore of CGST and Rs 29,054 crore of SGST from IGST as regular settlement. The total revenue of the Centre and the states, after regular settlements in February 2023, is Rs 62,432 crore for CGST and Rs 63,969 crore for SGST. Furthermore, the Centre released the balance GST compensation of Rs 16,982 crore for June 2022 and Rs 16,524 crore to states/UTs that submitted AG-certified figures for the previous period.
Bola Tinubu elected as the new President of Nigeria
Bola Tinubu elected as the new President of Nigeria: On March 1, 2023, Nigerian electoral officials announced that the ruling party’s presidential candidate, Bola Tinubu, had been elected as the country’s new president. Bola Tinubu has been associated with the ‘All Progressive Congress Party’ from which he has been winning elections. He will become Nigeria’s fifth president since the country returned to democratic rule in 1999, emerging as winner for the country’s top job on his first attempt.
February 2023 Current Affairs Quiz
The other two opposition candidates, however, have demanded re-election, refusing to accept Bola Tinubu’s victory. Main opponents Atiku Abubakar and Peter Obi are likely to challenge the decision again in court. Because Abubakar finished second in the 2019 election and filed a legal challenge. His lawsuit, however, was dismissed. Upon returning to Nigeria, Tinubu worked in the oil sector before venturing into politics. He was elected into the Nigerian senate in 1992 and served until the next year when the military seized power. He fled the country in 1994 after the pro-democracy group he co-founded failed to persuade the military to relinquish power.
Important takeaways for all competitive exams:
Nigeria Capital: Abuja;
Nigeria Currency: Nigerian naira;
Nigeria Prime Minister: Bola Tinubu;
Nigeria President: Muhammadu Buhari
India Wins GSMA Government Leadership Award 2023
Government Leadership Award 2023: The Government Leadership Award 2023 was given to India by the Groupe Speciale Mobile Association (GSMA) for best practises in telecom policy and regulation. Every year, the GSMA, which represents over 750 mobile operators and 400 companies in the telecom ecosystem, honours one country. India was declared the winner at the Mobile World Congress in Barcelona.
February 2023 Current Affairs Quiz
According to the GSMA, India’s largest-ever spectrum auction for 5G will take place in July 2022. In total, 72 GHz spectrum was sold across ten spectrum bands. Across the spectrum band, the government reduced reserve prices by 39%. Seventy-one percent of all spectrum sold at auction was for $19 billion. All three Indian mobile operators have acquired spectrum in critical 5G bands such as 700 MHz, 3.5 GHz, and 26 GHz. To further support 5G rollouts, the government has also liberalised the spectrum cap limit for telecom operators, expanding their ability to hold more spectrum.
Following initiatives have been taken by India for improving telecom sector and infrastructure in the country-
- In India, RoW permissions which used to take more than 230 days, now get approval within 8 days.
- More than 85% mobile tower clearances are now instantaneous.
- India’s 5G roll-out is one of the fastest in the world, with nearly 1 lakh sites in 387 districts.
- Indian telecom sector has emerged as a sunrise sector and the whole world has taken note of this rise.
- Several initiatives were carried out in India, including licencing reforms, the establishment of the PM Gati Shakti Sanchar Portal, streamlining Right of Way (RoW), spectrum reforms, satellite reforms, and so on.
What is Mobile World Congress (MWC)?
Mobile World Congress (MWC) is an annual trade show and conference for the mobile telecommunications industry. The Mobile World Congress (MWC) event brings together representatives from mobile operators, device manufacturers, technology providers, and other mobile industry players. Exhibitors showcase their latest mobile devices, network infrastructure, software, and services. The MWC conference features keynote speeches, panel discussions, and educational sessions covering topics such as- 5G, Artificial intelligence, Internet of Things (IoT), and Mobile security.
Important takeaways for all competitive exams:
GSMA Chairperson: Stéphane Richard;
GSMA Headquarters: London, England, UK;
GSMA Founded: 1995.
Elon Musk reclaims to the top, becomes richest person on the planet again
Elon Musk reclaims to the top, becomes richest person: According to a Bloomberg Billionaires Index report, Elon Musk, CEO of Tesla, reclaimed the title of world’s richest person on February 28. The second-placed French business tycoon Bernard Arnault has a net worth of $185 billion, trailing Tesla CEO Elon Musk by $187 billion.
February 2023 Current Affairs Quiz
Elon Musk reclaims to the top, becomes richest person: Key Points
- Amazon Executive Chairman Jeff Bezos ranks third in terms of wealth, with a net worth of $117 billion.
- The strong increase in Tesla stock price, which rose to 92% in 2023 and outpaced the Nasdaq 100 rally so far in 2023, has been cited as the cause of the jump in Musk’s wealth.
- The increase in the Nasdaq 100 Index so far this year is 11%.
What will Elon Musk be like in 2023?
- Musk’s net worth will reach $50 billion in 2023, when he will own 13% of Tesla.
- Since October 2022, Bernard Arnault had held the top spot on the Bloomberg Billionaires Index, which he held until February 27.
- Even though Musk topped the index for the majority of 2022, Tesla’s share started to fall once he bought Twitter in October of that year. To pay for his acquisition of Twitter, Musk had to sell off billions of dollars’ worth of Tesla stock.
MoS IT launches Grievance Appellate Committee to ensure safe internet
MoS IT launches Grievance Appellate Committee to ensure safe internet: IT Minister Rajeev Chandrasekhar has established a grievance appellate panel mechanism to investigate user appeals against social media platform decisions. The announcement came in the presence of representatives of Big Tech internet companies like Meta, Snap, Google and others.
February 2023 Current Affairs Quiz
Significance of The Grievance Appellate Committee (GAC):
The digital platform, Grievance Appellate Committee (GAC), is a powerful tool for ensuring platform accountability to their users, according to Chandrasekhar, the minister of state for IT.
“This is one more milestone in the evolving framework to ensure internet is open, safe and trusted,” he said.
Grievance Appellate Committee (GAC) and Its Functions:
- The GACs will function as a “traffic signpost” on the Internet. Every GAC will have three members.
- The need for such panels arose as a result of a large number of grievances being left unresolved or unsatisfactorily addressed by Internet Intermediaries.
- The GACs are expected to create a culture of responsiveness among all Internet Platforms and Intermediaries towards their consumers.
- Users will be able to appeal to this new appellate body against the decision of the grievance officer of social media intermediaries and other online intermediaries.
- The Committee will endeavour to address the users’ appeal within a stipulated period of 30 days.
- The GAC is a critical piece of overall policy and legal framework to ensure that the Internet in India is open, safe, trusted and accountable.
- The GAC will be a virtual Digital platform that will operate only online and digitally — wherein the entire appeal process, from filing of appeal to the decision thereof, shall be conducted digitally.
IT Rules and Social Media:
IT rules had been strengthened in October to pave the way for formation of the Centre-appointed panels to settle often-ignored user grievances against the way social media platforms addressed their complaints regarding content and other matters.
The IT Rules already require social media intermediaries such as Facebook, Twitter, and WhatsApp to have a Grievance Officer to whom users can complain about any violation of the Rules.
Kerala temple deploys life-size ‘robotic elephant’ for festival
Kerala temple deploys life-size ‘robotic elephant’ for festival : A Kerala temple, Irinjadappilly Sree Krishna Temple (Thrissur district), has introduced a life-size motorized model of an elephant for performing rituals such as carrying processional deities.
February 2023 Current Affairs Quiz
The 11-foot-tall robotic elephant, weighing 800 kg and made of an iron frame and rubber coating, was donated by People for Ethical Treatment of Animals (PETA) India. Film actor Parvathy Thiruvothu joined hands with PETA in donating the robotic elephant, which cost 5 lakh rupees.
Notably, the ‘elephant’ has been named ‘Irinjadappilly Raman’ and a ‘Nadayiruthal’ ceremony (a ritual offering elephants to the deity in Kerala temples) was also conducted. And Raman was caparisoned for the ceremony, just like elephants during festivals. PETA said the elephant model, fitted with five powerful electric motors, will help the temple conduct ceremonies safely and cruelty-free, thereby supporting the call for rehabilitation of captive elephants.
8th Edition of Raisina Dialogue to be held on March 2 in New Delhi
8th Edition of Raisina Dialogue to be held on March 2 in New Delhi : The 8th Edition of the Raisina Dialogue will be held from tomorrow and will continue till 4th March in New Delhi. Prime Minister Narendra Modi will inaugurate the Dialogue. Prime Minister of Italy Giorgia Meloni will join the inaugural session as the Chief Guest. The theme of the 2023 Edition of Dialogue is “Provocation, Uncertainty, Turbulence: Lighthouse in the Tempest.
February 2023 Current Affairs Quiz
Theme 2023: Provocation, Uncertainty, Turbulence: Lighthouse in the Tempest
The Raisina Dialogue 2023 will witness the participation of representatives from over 100 countries including Ministers, Military Commanders, Captains of the Industry, Technology Leaders, Scholars on Strategic Affairs, Experts from leading Think Tanks and Youth. This year’s edition assumes special significance coming against the backdrop of India’s G20 Presidency.
The Raisina Dialogue is India’s flagship conference on geopolitics and geo-strategy. It is organized by the Ministry of External Affairs in collaboration with Observer Research Foundation. During the past eight years, the Raisina Dialogue has consistently grown in stature and profile to establish itself as one of the leading global conferences on international affairs.
ISRO successfully conducts flight test of cryogenic engine for Chandrayan-3
ISRO successfully conducts flight test of cryogenic engine for Chandrayan-3 : ISRO has successfully conducted the flight acceptance hot test of the CE-20 cryogenic engine for the Chandrayan-3 mission. The test was successfully conducted on February 24 at the ISRO Propulsion Complex, Mahendragiri, Tamil Nadu. It said, all the propulsion parameters during the test were found satisfactory and closely matched with predictions. The Space agency said, the cryogenic engine will be further integrated with the propellant tanks, stage structures and associated fluid lines to realise the fully integrated flight cryogenic stage.
February 2023 Current Affairs Quiz
This flight acceptance hot test comes a day after the Chandrayaan-3 lander successfully completed the crucial EMI-EMC (Electromagnetic Interference/ Electromagnetic Compatibility) test. Chandrayaan-3 interplanetary mission has three major modules – the Propulsion module, Lander module and Rover. The mission’s complexity calls for establishing radio-frequency (RF) communication links between the modules. Chandrayaan-3 is India’s third moon mission and is a follow-on mission to Chandrayaan-2 to demonstrate end-to-end capability in safe landing and roving on the lunar surface. The mission is slated to be launched later this year by Launch Vehicle Mark 3 from the Satish Dhawan Space Centre at Sriharikota.
MeitY launched Grievance Appellate Committee
MeitY launched Grievance Appellate Committee: The Ministry of Electronics and Information Technology (MeitY) on Tuesday launched a digital platform titled Grievance Appellate Committee (GAC), which is a faceless dispute resolution mechanism that would make all platforms — big and small — accountable to digital citizens. It was established by Union MoS Electronics and IT, Rajeev Chandrasekhar.
February 2023 Current Affairs Quiz
It is a faceless dispute-resolution mechanism that would make all platforms (big and small) accountable to digital citizens. The Grievance Appellate Committee (GAC), which will investigate users’ complaints about content and other issues, was established on Tuesday by Union Minister of State for Electronics and IT Rajeev Chandrasekhar in an effort to give millions of social media users in India more influence. In accordance with the modified IT Regulations, 2021, the IT Ministry announced that three GACs must be established.
Chandrasekhar on Tuesday said, “It is indeed a very fitting day because PM launched MeitY webinar today where he talked about ease of living through technology. He mentioned faceless taxation as an example of how technology is transforming lives and making lives easier for the citizens.”
On Tuesday, the minister tweeted, “On a day when PM @narendramodi ji spoke of how Tech is transforming citizens’ lives at a post-Budget webinar, @GoI_MeitY launched #GAC – a faceless dispute resolution mechanism that makes all platforms – big n small accountable to DigitalNagriks #IndiaTechade #OSTA”.
