2 September 2023 Current Affairs – The Day’s Top News | GKSERIES

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 September 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 2 September 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 September 2023

World Coconut Day 2023: Date, Benefits, Significance and History

Every year on September 2nd, World Coconut Day is observed. The day is observed to raise awareness about the benefits of this fruit. In India, Tamil Nadu, Karnataka, Kerala, West Bengal and Andhra Pradesh are the main states that grow coconuts.

Daily Current Affairs Quiz: September 2023

What is Coconut?

Coconuts are one of the most loved fruits in India. The country produces a lot of coconut every year, and the flesh is used in a range of dishes across India. From preparing sweet dishes using coconut to making ropes out of coir. Every bit of coconut may be used, and it is also a very nutritious food.

Benefits of Coconut:

The flesh of the coconut, also known as kernel, is an excellent fruit to consume. Loaded with benefits, coconuts are used in a range of dishes. Coconut milk and oil are also extracted from the fruit. Coconut oil is a healthy alternative to other cooking oils because it can be used for both cooking and moisturising the hair and face. Coconut milk is a very important ingredient in a range of cuisines. Coconut water is a healthy beverage as well. Coconut coir is used for making ropes, rugs and doormats.

Significance of World Coconut Day

World Coconut Day is celebrated by the farmers and the stakeholders in the coconut growing business. People plan the day with activities and events that can create awareness about the benefits of consuming coconuts. World Coconut Day is an important opportunity to celebrate the many benefits of coconuts and to promote sustainable coconut farming practices. By raising awareness about coconuts, we can help to ensure that this important crop continues to provide food, income, and well-being for generations to come.

Here are some of the significance of World Coconut Day:

• To raise awareness about the importance of coconuts and their many benefits.
• To promote sustainable coconut farming practices.
• To celebrate the contributions of the coconut industry to the global economy.
• To highlight the cultural and economic importance of coconuts in many countries.
• To encourage research and development of new coconut products and applications.

History of World Coconut Day

The Asian and Pacific Coconut Community (APCC), headquartered in Jakarta, Indonesia, was founded in 1969 to support the growth, production, sell and export of coconuts in Asian countries. The APCC began the annual celebration of World Coconut Day on September 2 in 2009. Members of the APCC include India, Malaysia, Indonesia, the Philippines, Thailand, Kenya, and Vietnam.

Moody’s Upgrades India’s 2023 GDP Growth Forecast to 6.7%

Moody’s Investor Service, a global rating agency, has upgraded its economic growth prediction for India, presenting a positive outlook for 2023. The agency has increased its forecast for India’s Gross Domestic Product (GDP) growth to 6.7 percent, up from the previous estimate of 5.5 percent. This adjustment is due to the strong performance in the second quarter, which was driven by significant growth in services and capital expenditures, resulting in 7.8 percent real GDP growth over the previous year.

Daily Current Affairs Quiz: September 2023

Initial Forecast: Moody’s previously estimated India’s GDP growth for 2023 at 5.5 percent.

• Revised Projection: The agency boosted its prediction for 2023 to 6.7 percent due to significant service expansion and capital expenditures, resulting in 7.8 percent real GDP growth in the second quarter.

2024 Outlook Adjusted Due to High Base

• 2024 GDP Forecast: Moody’s has lowered India’s 2024 GDP growth projection from 6.5 percent to 6.1 percent.
• Reasoning: This adjustment was necessary by the high base generated by 2023’s second quarter outperformance.

Recognizing Upside Risks

• Positive Momentum: Moody’s acknowledges India’s robust underlying economic momentum.
• Potential Upside: The agency recognizes further upside potential for India’s economic growth.

Monsoon Season and Inflation Concerns

• Monsoon Impact: Moody’s notes concerns about below-average rainfall during India’s monsoon season, potentially leading to higher food prices.
• El Niño Risk: The strength of El Niño in late 2023 and early 2024 could further affect agricultural commodity prices.

Monetary Policy Considerations

• Repo Rate Unchanged: Due to rising food price inflation and uncertain weather circumstances, the Reserve Bank of India’s monetary policy committee has decided to hold the repo rate steady.
• Easing Delayed: Monetary policy easing considerations are expected to be deferred to early next year.

Buoyant Domestic Demand and Inflation Stability

• Strong Domestic Demand: Moody’s highlights India’s buoyant domestic demand.
• Stable Core Inflation: As long as core inflation remains relatively stable, the agency believes that rate hikes are unlikely.

Recent Economic Performance

• Q1 FY 2023 GDP: India’s GDP growth rate in the first quarter of the current fiscal year was 7.8 percent, indicating increased economic activity.
• Sectoral Growth: India’s manufacturing, services, and export sectors have experienced robust growth, complemented by strong tax collection.
• Government’s View: Finance Minister Nirmala Sitharaman expects India’s economic growth to remain robust through at least the end of 2023.

India’s August GST Collection Surges to ₹1.59 Trillion

In August, India witnessed a notable surge in Goods and Services Tax (GST) collection, amounting to ₹1.59 trillion, signifying an 11% increase compared to the same period last year. This substantial development can be ascribed to improved compliance and anti-evasion measures put in place.

Daily Current Affairs Quiz: September 2023

Comparison with Previous Months

• August 2023’s collection marked a significant rise from the ₹1.43 trillion collected in August 2022.
• It is crucial to note, however, that GST collection has slowed compared to the previous month, which recorded 1.65 trillion in July.

Factors Behind the Moderation

• The moderation in collection is primarily attributed to subdued growth in integrated GST (IGST) and the cess on imports, which increased by only 3% in August.
• Importantly, both imports and IGST collections have experienced fluctuations in recent months.

Government’s Expectations

• For the fiscal year, the government has set an ambitious target of 1.6 trillion to 1.65 trillion in average monthly GST collection.
• Experts anticipate the growth momentum to continue, although certain inhibiting factors are not ruled out.

Distribution of Tax Collection

• Following the settlement of taxes for inter-state sales, the Centre collected ₹65,909 crore, while the states garnered ₹67,202 crore in August.

Year-on-Year Improvement

• In comparison to the same month in the previous year, August 2023’s GST revenues showed an impressive 11% increase.
• According to the finance ministry, revenue from imports of products increased by 3%, while revenue from domestic transactions (including imports of services) surged by 14% compared to the same period last year.

Strong Performance in Major States

• Several major states reported robust growth rates in GST collection.
• According to official figures, Maharashtra’s collection climbed by 23% to 23,282 crore, Karnataka’s collection increased by 16% to 11,116 crore, and Gujarat’s collection increased by 12% to 9,765 crore.

Shanta Thoutam honoured with World Innovation Award at BRICS Innovation Forum

Telangana’s Chief Innovation Officer (CIO) Shanta Thoutam has been presented with the World Innovation Award at the first BRICS Innovation Forum hosted at Moscow from August 27 to 29. The award is granted for outstanding contributions to SDG-4, which ensures inclusive and equitable quality education and supports lifelong learning opportunities for all. There were representations from more than 30 countries at the forum.

Daily Current Affairs Quiz: September 2023

The other two nominees in the category were Fernando Padula Novaes, Municipal Minister of Education of Sao Paulo in Brazil and Saif Al-Hiddabi, Undersecretary of Research and Innovation at Ministry of Higher Education, Research, and Innovation in Oman.

Work of Shanta Thoutam 

• Shanta Thoutam has completed 7 years of service in Telangana’s innovation ecosystem, beginning as Vice President at T-Hub, then as Officer on Special Duty (OSD) for the State Handlooms and Textiles Department, and now as the state’s first female CIO.
• With over 30 countries’ representatives at the first-of-its-kind forum, Shanta Thoutam as one of the panelists in the Cloud City Conference enlightened about the various pathbreaking initiatives and achievements of the government of Telangana in the space of open data, digital innovation, and urban development.
• She highlighted the Command Control Center in Hyderabad on ensuring the citizens’ security by analysing visual data captured from 1 lakh CCTV cameras, and Open Data Portal that hosts data sets in the public domain leading to a transparency in the working of the government and triggering innovative solutions from various stakeholders.

About the World Innovation Award

The World Innovation Award, presented by the World Organisation for Development, an international non-governmental organisation with Special Consultative Status with the United Nations Economic and Social Council, recognises leaders from the developing world who have made an outstanding personal contribution to the achievement of the Sustainable Development Goals through a systematic effort to implement innovative solutions.

Asia Cup 2023 Schedule: Details Here

In a long-awaited announcement, the official schedule for the Asia Cup 2023 has been revealed after months of negotiations between the Indian and Pakistani cricket boards. The Asia Cup 2023 tournament, which will be hosted by Pakistan, as well as Sri Lanka, Afghanistan, Bangladesh, and Nepal, promises an enticing slate of 13 matches in this biannual ODI championship.

Daily Current Affairs Quiz: September 2023

Asia Cup 2023: Key Tournament Details

• Host Nations: Pakistan (4 matches) and Sri Lanka (9 matches, including the final).
• Commencement Date: August 30, 2023.
• Final Date: September 17, 2023.
• Total Teams: 6 teams.
• Total Matches: 13 matches.

Asia Cup 2023 Match Schedule and Venues

The tournament is set to kick off on August 30 with Pakistan facing Nepal in Multan. Three further matches will be played in Lahore, with one possible Pakistan Super 4 encounter on September 6. All other matches will take place in Sri Lanka, with three taking place in Kandy and six in Colombo, culminating in the final match on September 17.

Here’s the detailed schedule of the Asia Cup 2023, including match dates, times, and venues:

Asia Cup 2023: Group Composition

• Group 1 Teams: India, Pakistan, Nepal.
• Group 2 Teams: Sri Lanka, Afghanistan, Bangladesh.

Asia Cup 2023: India-Pakistan Clashes

The highly anticipated round-robin encounter between India and Pakistan is set for September 2 in Kandy, with a potential rematch in the Super 4 round set for September 10 in Colombo. The India-Pakistan rivalry has always been a highlight of the Asia Cup.

Asia Cup 2023: Background and Cricketing Importance

Despite the ongoing friction between the Indian and Pakistani cricket boards, the Asia Cup remains a symbol of unity and togetherness, bringing diverse nations together through the sport of cricket. This ODI competition is significant as a dress rehearsal for teams participating in the World Cup scheduled to start in India on October 5.

While the tournament format has been altered to fit India’s desire for playing at neutral locations, the Asia Cup’s financial success is mostly dependent on the India-Pakistan match, which has always captivated the cricketing world’s attention.

As the teams prepare to battle it out in Sri Lanka and Pakistan, cricket enthusiasts around the world eagerly await the thrilling contests that the Asia Cup 2023 promises to deliver. For more information and updates, you can visit the official Asian Cricket Council (ACC) website at asiancricket.org.

Indo-US Task Force Aims to Boost Electronics Trade to $100 Billion by 2033

In a remarkable endeavor to strengthen trade relations between India and the United States within the electronics sector, the Indian Cellular & Electronics Association (ICEA) has established a dedicated task force. This endeavour follows collaborative efforts launched following Prime Minister Narendra Modi’s official visit to the United States last month, with the goal of increasing the current $8 billion Indo-US electronics trade to an ambitious $100 billion within the next decade.

Daily Current Affairs Quiz: September 2023

ICEA’s Vision:

1. Ambitious Trade Target: ICEA Chairman Pankaj Mohindroo emphasized that achieving this monumental goal would significantly bolster India’s aspirations to become a global hub for innovation and manufacturing in the electronics sector.
2. Comprehensive Representation: ICEA, serving as the apex industry body, represents the entire electronics ecosystem in India, including components, subassemblies, EMS (Electronic Manufacturing Services), and finished goods across various Electronic System Design and Manufacturing (ESDM) verticals, such as mobile phones, consumer electronics, and IT hardware.

The Role of Critical and Emerging Technology (iCET):

The establishment of the Critical and Emerging Technology (iCET) is a pivotal component of this initiative. It will promote collaboration in fields such as artificial intelligence, quantum computing, space exploration, semiconductors, and defence technology.

Policy and Regulation Adaptations: Facilitating Technology Exchange:

The Indo-US partnership encompasses policy and regulatory adaptations aimed at encouraging greater technology sharing, co-development, and co-production opportunities between the two countries’ industries.

Long-Term Impact:

These policy adjustments are anticipated to have a long-term and sustained impact on India’s technology ecosystem, creating an environment conducive to innovation and collaboration.

Prospects for Job Creation and Business Opportunities: Economic Benefits:

Mohindroo highlighted the partnership’s potential to usher in a new era of innovation and collaboration between India and the US. While lead firms in global value chains will play a pivotal role, the partnership is also expected to create new job opportunities and avenues for Indian businesses and startups, contributing to economic growth and technological advancement.

Cabinet okays PRIP scheme to boost research and innovation

The Union Health Ministry has announced an ambitious plan to boost research and innovation in the pharmaceutical and medtech sectors. To achieve this goal, they have introduced the Promotion of Research & Innovation in Pharma-MedTech sector (PRIP) scheme, which has been approved by the Union Cabinet. The government launched the initiative earlier this month, believing that the Indian pharmaceutical industry has the ability to grow its current 3.4 percent share of the world market to 5% by 2030.

Daily Current Affairs Quiz: September 2023

More Details

The Union Health Ministry has announced a plan to invest ₹700 crore in creating seven Centres of Excellence at various National Institutes of Pharmaceutical, Education & Research (NIPER) to boost research and innovation in the pharma and medtech sector.

The Promotion of Research and Innovation in the Pharma-MedTech Sector (PRIP) scheme will be launched in September and will last for five years, from 2023-24 to 2027-28. The Centre will also provide ₹4,250 crore to support research in the private sector through milestone-based funding. The Centre may also acquire equity stakes of 5-10% in these private entities in exchange for the funding.

The scheme aims to enhance the capacity of PSUs and encourage private sector participation in research. The scheme’s two components, specific funding for National Institutes of Pharmaceutical Education and Research (NIPERs) and private sector support, are intended to solve significant difficulties and stimulate growth in these sectors.

The National Policy focuses on three key areas:

1. strengthening the regulatory framework,
2. incentivising investment in innovation, and
3. enabling an ecosystem for innovation and research.

The policy aims to accelerate drug discovery and development, foster collaboration between industry and academia, and streamline existing policies to optimise research resources. The PRIP scheme, with an allocation of Rs 5,000 crore, focuses on two components: the establishment of Centres of Excellence (CoEs) within existing institutions to strengthen research infrastructure, and promotion of research in priority areas. These priority areas encompass a range of fields such as new chemical and biological entities, precision medicines, medical devices, and antimicrobial resistance solutions.

YES Bank goes live with UPI interoperability on CBDC

YES Bank, announced a significant development in the digital currency space by launching UPI interoperability on the Reserve Bank of India (RBI) Central Bank Digital Currency (CBDC) app. This move is poised to revolutionize digital transactions and expand the reach of the Digital Rupee (e₹) across the nation.

Daily Current Affairs Quiz: September 2023

Enhancing Transactional Convenience:

Users may now scan any UPI QR code using the YES Bank Digital Rupee app, which simplifies transactions and makes digital payments more accessible and user-friendly.

Commitment to Digital Innovation:

This milestone reaffirms YES Bank’s unwavering commitment to driving digital innovations and providing a diverse range of transactional options to users nationwide.

Evolution of the Digital Rupee:

The Digital Rupee journey began on November 1, 2022, with the announcement of the first pilot in the Digital Rupee Wholesale Segment (e rupee W), followed by the announcement of the first pilot for retail Digital Rupee (e rupee-R) on December 1, 2022. The retail Digital Rupee offers the trust, safety, and settlement finality associated with physical cash but in a digital form.

Unique QR Code Mechanism:

This initiative introduced a pioneering digital currency system built on a unique QR code mechanism for conducting transactions. As digital transactions continue to evolve, the need for flexibility and universal adaptability becomes increasingly vital.

CBDC Integration with UPI QR Codes:

By integrating the Central Bank Digital Currency (CBDC) with UPI QR codes, the e-rupee gains a broader platform, positioning itself as a staple in daily transactions. This strategic move not only strengthens the e-rupee but also seamlessly integrates it with the widely-adopted UPI system, which boasts an overall merchant base of 150 million.

First Males in India, All Name List

Throughout history, men in India have made significant strides across diverse fields, leaving an incredible mark on the nation’s progress. From breaking societal norms to achieving unprecedented feats, these pioneers have paved the way for future generations.

Daily Current Affairs Quiz: September 2023

List of First Males in India

From Rakesh Sharma, the first Indian guy in space, to Rabindranath Tagore, the first Indian male writer, and others, these men’s achievements have set the way for growth and inspiration for future generations.

Here is the list of First Males in India:

Manish Desai Takes Charge of Press Information Bureau (PIB)

Manish Desai, the chief of the Central Bureau of Communications (CBC), has been transferred to manage the Press Information Bureau (PIB) by the Ministry of Information and Broadcasting.

Daily Current Affairs Quiz: September 2023

Manish Desai’s Impressive Career

Manish Desai, a distinguished officer of the Indian Information Service (IIS) since 1989, has taken on several critical roles in his career. He held the position of CBC chief, overseeing the government’s advertising and public communication arm. His responsibilities encompassed a broad spectrum of communication activities across various media platforms, including print, electronic, outdoor, transit, and new media.

Manish Desai was the Director General of the Registrar of Newspapers of India (RNI) from November 2019 until January 2020. Additionally, he has an impressive six-year tenure as the Additional Director General (ADG) of PIB from 2012 to 2018. He has also held the position of Director General of the West Zone PIB in Mumbai.

Key Transitions in Leadership

• Manish Desai’s appointment as the Principal Director General of PIB comes as Rajesh Malhotra, who has led the media outreach unit since 2022, is set to retire.
• Another significant step is the appointment of Bhupendra Kainthola, former Principal Director General of PIB, Kolkata, as Press Registrar. This position is critical in overseeing press-related matters.
• Dhirendra Ojha, the incumbent Press Registrar, is slated to take over as the new CBC chief, following Manish Desai’s transition.

PIB’s Centennial Anniversary

It’s worth noting that the Press Information Bureau (PIB), which serves as the primary agency for disseminating information on behalf of the Indian government, celebrated its centennial anniversary in June of this year. The Central Publicity Board was founded in Shimla in June 1919 as the Home Ministry of the colonial administration. Its initial goal was to create an annual report on India for the British Parliament.

The first individual to lead the publicity cell at its inception was Dr. LF Rushbrook Williams, who was affiliated with Allahabad University and held the title of Officer on Special Duty. These appointments signify key changes in the leadership of crucial government communication entities and mark notable milestones in the history of the Press Information Bureau.

Who Is The ISRO’s Aditya L1 Spacecraft, Named After?

The Indian Space Research Organisation (ISRO) is set to embark on a groundbreaking space mission, Aditya L-1, designed to unravel the mysteries of our closest star, the Sun. This project, which is set to launch from the Satish Dhawan Space Centre in Sriharikota at 11:50 a.m. on Saturday, September 2nd, aims to shed light on the enigmatic solar processes that effect our planet and the larger cosmos.

Daily Current Affairs Quiz: September 2023

L1: A Cosmic Sweet Spot

The “L1” in Aditya L-1 stands for Lagrange point 1, a celestial location nestled precisely between the Sun and Earth. Lagrange points are regions where the gravitational forces of two massive objects, in this case, the Sun and Earth, balance each other, allowing a spacecraft to essentially “hover” in place.

Unveiling the Objectives of Aditya L-1

Aditya L-1 is a pioneering mission whose primary goal is to improve our understanding of the Sun and its vast influence on our solar system. The mission’s key objectives are:

1. Exploring the Chromosphere and Corona

Aditya L-1 aims to delve into the upper atmospheric layers of the Sun, namely the chromosphere and the corona. The corona, the outermost layer, and the chromosphere just below it are all of great scientific interest.

2. Studying Coronal Mass Ejections (CMEs)

This mission will closely observe coronal mass ejections (CMEs) – colossal eruptions of plasma and magnetic fields from the Sun’s corona. Understanding CMEs is essential as they can disrupt satellite communications and power grids on Earth.

3. Analyzing the Solar Corona’s Magnetic Field

Aditya L-1 will examine the magnetic field of the solar corona, aiding in comprehending the driving forces behind space weather phenomena, which have significant impacts on Earth’s magnetic environment.

4. Deciphering the Solar Corona’s Temperature Mystery

One of the Sun’s enigmas is why its corona, despite not being visible, blazes at temperatures exceeding a million degrees Celsius while the Sun’s surface stays at roughly 5,500 degrees Celsius. Aditya L-1 aims to solve this enigma.

5. Understanding Solar Wind Origins

By studying particle acceleration on the Sun, the mission seeks to elucidate the origins of the solar wind – the continuous flow of charged particles emanating from our star. This solar wind profoundly influences the Earth’s magnetosphere.

The Solar Perspective from Space

According to ISRO, the Sun emits a broad spectrum of radiation and energetic particles that can be harmful. Earth’s atmosphere acts as a protective shield, but it does not block all potentially harmful radiations. Understanding these solar emissions is crucial for safeguarding our technology and space assets.

With its ambitious goals and the promise of new insights into the Sun’s behavior, ISRO’s Aditya L-1 mission will not only contribute to scientific knowledge but also enhance our ability to predict and mitigate the impacts of solar activities on Earth and our technological infrastructure.