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 3 July 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 3 July 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 – 3 July 2023
International Plastic Bag Free Day 2023: Date, theme, Significance and History
Every year on July 3rd, International Plastic Bag Free Day is commemorated to raise awareness about the harmful impact of disposable plastic bags on the environment. This day serves as a reminder for individuals, communities, and businesses all across the world to reduce their use of plastic bags and look for more sustainable alternatives. People, environmental groups, and organizations worldwide participate in diverse activities, workshops, and campaigns to educate the public about the consequences of plastic bags and encourage the adoption of reusable bag options.
Theme for International Plastic Bag Free Day
There is no specific theme for 2023 International Plastic Bag Free day.
International Plastic Bag Free Day 2023: Significance
The major goal of International Plastic Bag Free Day is to raise awareness among individuals and communities to encourage them to reduce their reliance on plastic bags and advocate for more sustainable alternatives. This day also motivates a shift in behavior away from using plastic bags in order to create a cleaner and more sustainable environment. Additionally, it serves as a reminder of the detrimental impacts of plastic bags on the environment, wildlife, and human health.
History of International Plastic Bag Free Day 2023
On July 3rd, 2008, Zero Waste Europe launched a campaign to address the issue of single-use plastic bags. Following that, in 2015, the European Union enacted explicit guidelines to reduce the use of single-use plastic bags. As time progressed, the movement gained significant traction, leading numerous countries to enforce bans on plastic bags. Presently, this day has evolved into a global event observed by numerous countries worldwide.
Steps to free earth from Plastic Bag
The Need for Change:
Plastic bags, notorious for their short lifespan and difficulty to decompose, have become a grave environmental concern. They pollute our land, clog our waterways, and pose a severe threat to marine life. Plastic bag waste not only harms wildlife but also disrupts ecosystems, exacerbating the already critical issue of plastic pollution. International Plastic Bag Free Day sheds light on the urgency to address this problem and encourages individuals, communities, and businesses to adopt sustainable alternatives.
Initiatives and Campaigns:
The journey towards reducing plastic bag consumption gained significant momentum with the efforts of organizations like Zero Waste Europe and directives passed by the European Union. These initiatives sparked a global movement, with many countries implementing bans or levying taxes on single-use plastic bags. On International Plastic Bag Free Day, numerous events, workshops, and awareness campaigns are organized worldwide to educate the public about the environmental impact of plastic bags and promote the use of reusable alternatives such as cloth bags, paper bags, or durable eco-friendly bags.
Individual Responsibility:
International Plastic Bag Free Day serves as a reminder of our individual responsibilities to contribute to a more sustainable future. Each of us may help the cause by developing simple yet powerful habits. Carrying a reusable bag when shopping, refusing plastic bags when they are unnecessary, and embracing reusable storage and transportation alternatives are all practical steps that can make a major difference. By making conscious choices and spreading awareness among friends, family, and our local communities, we can collectively work towards a cleaner and healthier environment.
Government Action:
Governments play a crucial role in addressing the issue of plastic bag pollution. Legislative measures such as imposing bans, implementing taxes, or incentivizing the use of sustainable alternatives have proven effective in many countries. The European Union’s directives to reduce single-use plastic bags serve as an exemplary model for other regions to follow. International Plastic Bag Free Day serves as an opportunity for governments to reinforce their commitment to environmental sustainability and consider further policy actions to combat plastic bag pollution.
World Sports Journalist Day 2023: Date, theme, Significance and History
Every year on July 2nd, the world celebrates World Sports Journalist Day. Sports are extremely important in the general development of individuals, functioning as both a pleasure pastime and a prospective job path. Certain people have a strong interest in both sports and journalism, which leads them to work as “Sports Journalists.” The day honours the accomplishments of sports media professionals and motivates them to put more effort into spreading knowledge about sports among the general public. Many news firms host special events to honour sports journalists on this special day.
World Sports Journalist Day 2023- Theme
There is no particular theme for the celebrations of World Sports Journalist Day this year. The purpose is to recognize the efforts of individuals involved in sports journalism.
World Sports Journalist Day 2023-Significance
World Sports Journalist Day aims to promote and acknowledge the achievements of diverse sports journalists. It serves as a source of inspiration for aspiring individuals who aspire to pursue careers in this field. Numerous media organizations arrange special events to honor their sports journalists on this occasion. One of the primary objectives of celebrating World Sports Journalist Day is to raise global awareness about sports.
World Sports Journalist Day 2023-History
World Sports Journalist Day was instituted in 1994 by the International Sports Press Association (AIPS) to mark the establishment of AIPS as an organization on July 2nd, coinciding with the Summer Olympics in Paris. Since its inception, this day has been dedicated to recognizing the contributions and achievements of countless sports media professionals. It serves as a platform to honor their outstanding work in the field of sports journalism.
About the International Sports Press Association (AIPS)
The International Sports Press Association, or AIPS (abbreviated from its French name, Association Internationale de la Presse Sportive), includes 160 national associations throughout the world, including the National Sports Media Association in the United States. Among its many aims, AIPS advocates for sports media rights, issues identification cards used by many international sporting events for credentialing, hosts programs for young sports journalists, and honors excellence through its international awards.
Important takeaways for all competitive exams:
- AIPS Executive Director: Dave Goren;
- AIPS of Headquarters: Lausanne, Switzerland;
- AIPS Founded in 1924.
Gross GST Collection in June Reaches ₹1.61 Trillion, Marking Fourth Occurrence Above ₹1.60 Trillion
According to the Ministry of Finance, India’s Goods and Services Tax (GST) collection for the month of June was $1.61 trillion. This is a remarkable 12% increase above GST income collected in the same month the previous year. It is also noteworthy that this is the fourth time the gross GST collection has surpassed the ₹1.60 trillion mark since the introduction of GST.
Breakdown of June’s GST Revenue
Out of the total GST revenue collected in June, CGST (Central Goods and Services Tax) accounted for ₹31,013 crore, SGST (State Goods and Services Tax) amounted to ₹38,292 crore, and IGST (Integrated Goods and Services Tax) stood at ₹80,292 crore, which includes ₹39,035 crore collected on imported goods. Additionally, cess collected, including ₹1,028 crore on import of goods, totaled ₹11,900 crore. The government further allocated ₹36,224 crore to CGST and ₹30,269 crore to SGST from IGST. Following regular settlements, the Centre and the States reported revenues of ₹67,237 crore and ₹68,561 crore, respectively, for CGST and SGST.
Consistent Growth in GST Collection
GST collection in India has been steadily increasing. The country collected a record-high 1.87 lakh crore in GST in April, followed by 1,57,090 crore in May. Notably, this marks the 16th consecutive month that gross GST collection has exceeded ₹1.4 lakh crore and the seventh time it has crossed the ₹1.5 lakh crore mark since the inception of GST.
Positive Impacts of GST Implementation
Finance Minister Nirmala Sitharaman highlighted the benefits of GST, emphasizing its role in reducing taxes for consumers by eliminating the cascading effect of ‘tax-on-tax.’ She also praised the dedication and commitment of tax officers, attributing their efforts to making monthly GST revenues of ₹1.60 lakh crore the “new normal.”
Average Monthly GST Collection Comparison
For the first quarters of fiscal years 2022, 2023, and 2024, the average monthly gross GST collection was 1.10 lakh crore, 1.51 lakh crore, and 1.69 lakh crore, respectively. This demonstrates a consistent growth trajectory in GST revenue over the years.
GST’s Contribution to Revenue Buoyancy
Minister Sitharaman also emphasized that GST has played a pivotal role in augmenting the revenue buoyancy of states. By streamlining the taxation process and eliminating the cascading effect, GST has contributed to the overall economic stability and growth of the nation.
India’s External Debt Reaches $624.7 Billion at End-March 2023
According to Reserve Bank data, India’s external debt has increased slightly, reaching USD 624.7 billion at the end of March 2023. During the same time span, however, the debt-to-GDP ratio has decreased. Valuation gains resulting from the appreciation of the US dollar against major currencies, including the Indian rupee, yen, SDR, and euro, amounted to USD 20.6 billion.
External Debt Growth and Debt-to-GDP Ratio:
The external debt of India rose by USD 5.6 billion compared to the previous year, when it stood at USD 619.1 billion as of March 2022. According to Reserve Bank data, the debt-to-GDP ratio fell from 20% in March 2022 to 18.9% in March 2023.
Valuation Effects on Debt Calculation:
Valuation gains due to the appreciation of the US dollar against major currencies accounted for USD 20.6 billion. If the valuation effect is excluded, the external debt would have increased by USD 26.2 billion instead of USD 5.6 billion from March 2022 to March 2023.
Composition of External Debt:
Long-term debt (with an original duration of more than one year) stood at USD 496.3 billion in March 2023, a 1.1 billion decrease from March 2022. Short-term debt (with an original duration of up to one year) increased its share of total foreign debt from 19.7 percent in March 2022 to 20.6 percent in March 2023.
The ratio of short-term debt (original maturity) to foreign exchange reserves also increased from 20 percent in March 2022 to 22.2 percent in March 2023. The largest component of India’s external debt remained the US dollar-denominated debt, accounting for 54.6 percent, followed by debt denominated in the Indian rupee (29.8 percent), SDR (6.1 percent), yen (5.7 percent), and the euro (3.2 percent).
Components of External Debt:
Loans constituted the largest component of India’s external debt, with a share of 32.5 percent, followed by currency and deposits (22.6 percent) and trade credit and advances (19.9 percent). Debt securities also accounted for a portion of the external debt.
Debt Service:
Debt service, which includes principal repayments and interest payments, slightly increased to 5.3 percent of current receipts by the end of March 2023, compared to 5.2 percent in March 2022. This reflects higher debt service obligations.
Dream 11 becomes India’s national cricket team lead sponsor for three years.
Fantasy gaming company Dream11 replaced BYJUs as the Indian team’s lead sponsor.
The Dream11 logo will be seen on India’s jerseys starting from the test series against the West Indies. BCCI had invited application for new sponsorship after the contract with BYJUs ended in March. The amount for the sponsorship deal has not been revealed.
Dream 11:
Dream11 is an Indian fantasy sports company. It was founded by Harsh Jain and Bhavit Sheth in 2008. It has around 160 million active users in India.
In 2022, India added 664 animal species to its faunal database.
Union Minister for Environment, Forest and Climate Change Bhupendra Yadav released the details of new discoveries and new records in Kolkata.
India added 664 animal species to its faunal database, which includes 467 new animal species and 197 new records. India has also added 339 new plant species which includes 186 taxa that are new to science and 156 taxa as new distributional records from the country in the year 2022. The discoveries details of animal species have been compiled by the Zoological Survey of India (ZSI) in the publication titled ‘Animal Discoveries – New Species and New Records 2023’.
Floral discoveries are in ‘Plant Discoveries 2022’ published by the Botanical Survey of India (BSI). Out of the total discovered species, there are three new species and one new record of mammals, two new records of birds, 30 new species and two new records of reptiles, six new species and one new record of amphibia and 28 new species and eight new records of fishes.
Out of total 664 animal species, 583 species are invertebrates while 81 species are vertebrates. The maximum number of new discoveries have been recorded from Kerala with 14.6% of new species. Tamil Nadu (12.6%) and West Bengal (7.6%) came second and third, respectively. In 2022, the highest number of new discoveries has been recorded in the last 10 years.
India’s national men’s football team reached the 100th spot in the FIFA world rankings.
India’s national men’s football team has made a significant improvement in its position in the recently released FIFA World Rankings. Indian team has reached from 101st to 100th position. The team achieved this position leaving behind Lebanon and New Zealand.
This achievement has made India the 18th-ranked team in Asia and the Asian Football Confederation (AFC). In the month of June, India gained 4.24 ranking points in seven matches. This success of the Indian men’s football team will have a huge impact on the upcoming 2026 World Cup qualifiers draw.
Due to Lebanon’s one-point deficit after their loss to India in the Intercontinental Cup final, the positions of the two countries changed in the AFC standings. FIFA World Cup 2022 winners Argentina have retained the top spot above France, while the USA has moved closer to the top 10. America has now moved from 13th to 11th position.
India defeated Iran to win the Asian Kabaddi Championships title.
Indian men’s kabaddi team defeated Iran by 42-32 in the finals of the Asian Kabaddi Championships. It is India’s eighth Asian Kabaddi championship title.
Both teams displayed remarkable determination and skill throughout the high-voltage match. India was leading by 23-11 at half time but Iran put pressure in the second half. India won the last edition of the Asian Kabaddi championship in 2017. India has become the most effective team in the Asian Kabaddi championship. This year’s, Asian Kabaddi Championship was held in South Korea. The first Asian Kabaddi Championship was hosted by India in Kolkata, India in 1980.
HDFC Bank and Housing Development Finance Corporation merger becomes effective from 1 July.
HDFC Bank has announced the merger of Housing Development Finance Corporation Ltd. (HDFC) with itself. From July 7, all commercial papers of HDFC Ltd will be transferred in the name of HDFC Bank. Housing Development Finance Corporation shareholders will get 42 new HDFC Bank shares for every 25 shares held by them.
The merger of both entities will make it the fourth-largest lender in the world by market capitalization. The market cap of the combined entity is estimated to be $172 billion. The merger of both entities was announced on 4 April 2022. Now, HDFC Bank will be completely owned by public shareholders and existing shareholders of HDFC Ltd will own a 41% stake in the bank.
The merger would allow more credit to flow to the economy. It will also allow for the underwriting of larger-ticket loans. All employees of HDFC Ltd below the age of 60 would become HDFC Bank employees. Currently, HDFC Securities Ltd., HDB Financial Services Ltd., HDFC Asset Management Co. Ltd, HDFC ERGO General Insurance Co. Ltd., and HDFC Capital Advisors Ltd are the subsidiaries of HDFC Bank.
Chandrayaan-3: ISRO Completes Rocket Assembly, Final Tests Awaited for Launch
The Indian Space Research Organisation (ISRO) has finished assembling the Chandrayaan-3 rocket and is currently preparing for the final set of testing before the scheduled launch. The spacecraft has been fully integrated, including the indigenous lander module, propulsion module, and rover, and the payload faring has been accomplished. The launch is expected to take place between July 12 and July 19.
Here are the key points:
| Key Points | Explanation |
| Rocket assembly status | Completed, with final tests pending |
| Expected launch date range | July 12 to July 19 |
| Mission objectives | Develop and demonstrate technologies for interplanetary missions, analyze the lunar surface chemically, and perform experiments on the moon’s surface |
| Launch site | Satish Dhawan Space Centre, Sriharikota |
| Assembly location and preparations | UR Rao Satellite Centre (URSC) in Bangalore; assembly completed and sent to Sriharikota for launch |
| Chandrayaan programme background | Chandrayaan-1 launched in 2008 and successfully inserted into lunar orbit; Chandrayaan-2’s lander crash-landed on the moon’s surface in 2019 due to a software glitch |
Rocket Assembly Completed:
The assembly of the Chandrayaan-3 rocket has been finished, and only the final round of tests remains.
Final Tests and Launch Schedule:
Next week, the rocket will go through final testing before being relocated from the vehicle assembly building to the second launchpad. The debut date is believed to be July 13, between July 12 and July 19. ISRO Chairman S Somnath stated that an early launch within this timeframe is their goal.
Mission Objectives:
Chandrayaan-3 aims to develop and demonstrate new technologies required for interplanetary missions. The lander will possess the capability to softly land on a designated lunar site and deploy the rover, which will conduct in-situ chemical analysis of the lunar surface. Both the lander and the rover will carry scientific payloads to perform experiments on the moon.
Launch Site and Configuration:
Chandrayaan-3 will be launched from the Satish Dhawan Space Centre in Sriharikota. The propulsion module will carry the lander and rover configuration to a 100km lunar orbit.
Payload Assembly and Preparations:
The payload assembly procedure for Chandrayaan-3 began in May in order to meet the July launch schedule. The assembly was conducted at ISRO’s UR Rao Satellite Centre in Bangalore, followed by transportation to the Sriharikota space port for the launch.
Background on Chandrayaan Programme:
The Indian Space Research Organisation’s (ISRO) Chandrayaan programme is an Indian space exploration initiative. It focuses on lunar exploration and comprises a number of missions aiming at learning more about the Moon’s surface, composition, and origin.
Here are some key points about the Chandrayaan programme:
- Chandrayaan-1: The Chandrayaan-1 mission was launched on October 22, 2008. It was India’s first lunar mission and the first spacecraft to discover water molecules on the Moon’s surface. The mission also confirmed the presence of high amounts of helium-3, a potential fuel for future nuclear fusion.
- Chandrayaan-2: On July 22, 2019, India launched its second moon mission, Chandrayaan-2. It was made up of an orbiter, a Vikram lander, and a Pragyan rover. The objective of the mission was to further explore the Moon’s surface and attempt a soft landing near the lunar south pole. However, the lander lost communication with ground control and the mission was partially successful, but it still provided valuable data.
- Objectives: The Chandrayaan mission has various goals, including mapping the lunar surface, studying the Moon’s minerals and geology, analysing the lunar exosphere (thin atmosphere), and looking for water ice in the permanently shadowed parts of the Moon.
