4 August 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 4 August 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 4 August 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 – 4 August 2023

GM Gukesh overtakes Viswanathan Anand to become highest Indian in FIDE rankings

D. Gukesh, a 17-year-old chess prodigy, has surpassed Grandmaster Viswanathan Anand to become India’s top-ranked chess player in the live world rankings. Gukesh accomplished this milestone by defeating Mistradin Iskandarov in the second round of the FIDE World Cup, moving to ninth place in the classic open category with a live rating of 2755.9. In contrast, Anand’s rating of 2754.0 caused him to drop to the 10th spot. This is only the second time since 1986 that Anand has been displaced from the top position.

Daily Current Affairs Quiz: August 2023

Gukesh’s live rating has risen by 2.5 points to 2755.9, while Anand’s rating stays at 2754.0. As a result, Gukesh is currently ranked as the world’s ninth best chess player, while Anand is ranked tenth. Anand had held the top position in India’s chess rankings since January 1987 and has been one of the country’s most prominent players since July 1991.

Gukesh, who recently became the youngest player to reach a live rating of 2750, is determined to break the 2800-mark. Despite this important accomplishment, Gukesh is currently focused on his forthcoming World Cup match versus fellow Indian player S. L. Narayanan. Celebrations for his achievement will have to wait as he prepares for the next round.

List of top 10 Chess players in FIDE rankings

Government launches Vivad se Vishwas 2.0 scheme for dispute settlement

The Ministry of Finance’s Department of Expenditure has created the Vivad se Vishwas 2.0 scheme, also known as the Contractual problems initiative, to resolve long-standing contractual problems between the government and government undertakings.

Daily Current Affairs Quiz: August 2023

This initiative was announced during the Union Budget 2023-24 by the Union Finance Minister, Smt. Nirmala Sitharaman. The scheme aims to provide an effective and standardized mechanism for resolving contractual disputes, thereby reducing the burden on the legal system and fostering a more business-friendly environment.

An Insight into the Scheme

• Smt. Nirmala Sitharaman, the Union Finance Minister, announced the plan in the Union Budget 2023-24, emphasising its importance in settling contractual issues involving the government and its undertakings.
• Its primary goal is to establish a voluntary settlement mechanism for parties entangled in disputes where arbitral awards are being contested in court.
• Through the use of graded settlement terms that correspond to the extent of pendency of the disputes, the scheme seeks to promote amicable resolutions.

Vivad se Vishwas II: Eligibility Criteria for Settlement under the Scheme

The settlement scheme will consider cases eligible if they meet the following criteria:

1. The status of the dispute must be resolved by an arbitral ruling issued before January 31, 2023.
2. Alternatively, for cases resolved through court proceedings, the award must have been passed on or before April 30, 2023.

The scope of the scheme extends to all domestic contractual disputes where either the Government of India or organizations under its control are involved.

Vivad se Vishwas II: Settlement Amounts

The scheme offers attractive settlement amounts to incentivize contractors to opt for voluntary settlements. For Court Awards issued on or before April 30, 2023, the Contractor may be offered up to 85% of the net amount granted or upheld by the court. Similarly, for Arbitral Awards passed on or before 31st January 2023, the settlement amount offered can be up to 65% of the net amount awarded.

Benefits of Vivad se Vishwas II

Benefits of Vivad se Vishwas 2.0 scheme

The scheme holds several advantages for all stakeholders like:

Faster Resolution

By providing a structured and standardized settlement process, the scheme ensures faster resolution of pending contractual disputes, which otherwise could have lingered in courts for years.

Reduced Litigation Burden

The scheme aims to ease the burden on the legal system by encouraging parties to settle their disputes voluntarily, thereby reducing the workload of courts.

Business-Friendly Environment

The availability of a voluntary settlement mechanism fosters a more business-friendly environment, encouraging investment and growth in the country.

Financial Relief

Contractors will benefit from attractive settlement amounts, allowing them to recover a substantial portion of the net amount awarded or upheld by the court or arbitrator.

Vivad se Vishwas II: Accelerating Dispute Resolution with a Voluntary Settlement Mechanism

By offering a voluntary settlement mechanism with standardized terms, the government aims to expedite the resolution of pending contractual disputes involving government entities. The scheme provides contractors to get favourable settlement amounts while also reducing the burden on the legal system. With the support of digital platforms like GeM and IREPS, the scheme promises transparency and efficiency throughout the claim processing journey.

Key takeaways for competitive examinations

• First Finance Minister of Independent India: R.K Shanmukham Chetty

Durand Cup 2023: Date, Teams, Schedule, Fixtures and Points Table

On August 3, the 132nd edition of Asia’s oldest football tournament, the Durand Cup 2023, began. The event this year is unique in that it features 24 clubs from the Indian Super League, I-League, and the Armed Forces. This number of teams is an increase from last year’s 20, and they have been distributed into six groups, each consisting of four teams. Three of these groups will participate in Kolkata, two in Guwahati, and one in Kokrajhar, Assam.

Daily Current Affairs Quiz: August 2023

Durand Cup 2023 teams

Group A:

• Bangladesh Army FT,
• East Bengal,
• Mohun Bagan SG,
• Punjab FC

Group B:

• Indian Navy FT,
• Jamshedpur FC,
• Mohammedan SC,
• Mumbai City FC

Group C:

• Bengaluru FC,
• Gokulam Kerala FC,
• Indian Air Force FT,
• Kerala Blasters

Group D:

• Downtown Heroes FC,
• FC Goa,
• NorthEast United FC,
• Shillong Lajong

Group E:

• Chennaiyin FC,
• Delhi FC,
• Hyderabad FC,
• Tribhuwan Army

Group F:

• Bodoland FC
• Indian Army FC
• Odisha FC
• Rajasthan United FC

Durand Cup schedule, fixtures and venue

Durand Cup 2023 schedule

Durand Cup venues

• VYBK: Vivekananda Yuba Bharati Krirangan (Salt Lake Stadium)
• MBG: Mohun Bagan Ground
• EBG: East Bengal Ground
• KBK: Kishore Bharati Krirangan
• SAI: Sports Authority of India Stadium
• IGAS: Indira Gandhi Athletic Stadium

Durand Cup 2023: Group stage points table

Durand Cup 2023 Group A points table

Pakistan Approves New Security Pact with the US, Signaling a Fresh Start in Defense Cooperation

In a significant development, the federal cabinet of Pakistan has quietly approved the signing of a new security pact with the United States. The Communication Interoperability and Security Memorandum of Agreement (CIS-MOA) will pave the path for stronger defence links between the two countries and may allow Pakistan to purchase military weapons from the United States. This move comes after the previous agreement, signed in 2005, expired in 2020.

Daily Current Affairs Quiz: August 2023

Renewing Defense Ties:

The new CIS-MOA is a foundational agreement that the US signs with its allies and partners to maintain close military and defense cooperation. It provides the US Department of Defence with legal protection when selling military equipment and weapons to other countries. By signing this pact, both Pakistan and the US are expressing their commitment to maintaining strong institutional mechanisms for defense collaboration.

Potential Military Hardware Procurement:

With the agreement in place, the United States may consider selling military hardware to Pakistan in the coming years. However, a retired senior Army officer with experience dealing with the US highlighted that despite the agreement, it might not be straightforward for Pakistan to purchase military equipment from the US. Given the challenge posed by China, the United States’ strategic objectives are more linked with India, affecting the US-Pakistan defence relationship.

Strained History and Renewed Ties:

In the past, the US and Pakistan experienced strains in their defense cooperation, primarily due to differences over Afghanistan-related issues. Incidents such as the assassination of Osama bin Laden in Pakistan and an airstrike on a Pakistani military station added to the difficulties of their relationship. Former President Donald Trump also accused Pakistan of not doing enough in the fight against militants.

However, since the new government under Shehbaz Sharif took office in Pakistan, there have been efforts to improve relations with the US. The recent meeting between US Central Command chief General Michael Erik Kurilla and Pakistan’s Chief of Army Staff General Asim Munir signifies a desire to enhance bilateral relations, including in defense.

Services PMI at over 13-year high in July

In July, India’s services sector experienced a significant rebound, achieving its highest growth in 13 years. The recovery was driven by robust demand and new business gains, leading to an increase in the S&P Global India Services Purchasing Managers’ Index (PMI) to a record high of 62.3. The PMI is a survey-based index that gauges service sector activity levels. A reading of the index above 50 indicates expansion, whereas a reading below 50 suggests contraction. This positive trend has been ongoing for 23 consecutive months since August 2021.

Daily Current Affairs Quiz: August 2023

Services PMI at over 13-year high in July: key points:

1. Record High Output and Strong Demand

• Services sector output rebounded in July, reaching the fastest pace since June 2010.
• The survey-based indicator hit a 13-year high of 62.3, indicating a strong increase in activity.
• The upturn was attributed to strong demand and new business gains.

2. Job Creation and Workload

• Despite the increased workload, the pace of job creation remained slow and consistent with the previous two months.
• Companies resorted to hiring a combination of part-time, full-time, permanent, and temporary staff.

3. Input Costs and Output Prices

• Input costs increased at the fastest rate in 13 months, owing primarily to rising food, labour, and transportation costs.
• However, firms seemed cautious about losing fresh contracts, leading to a slower increase in output prices.

4. Boost from Export Orders

• Overseas markets provided a boost, with firms reporting the second-fastest increase in export orders since the index was introduced in September 2014.
• Key sources of growth in export orders came from countries like Bangladesh, Nepal, Sri Lanka, and the UAE.

5. Positive Outlook

• The broad improvements in sales, both domestically and abroad, were viewed as especially welcome in the current hard global economic scenario.
• Pollyanna De Lima, Economics Associate Director at S&P Global Market Intelligence, expressed optimism about the positive trend.

6. Long-standing Expansion

• The headline figure of the Purchasing Managers’ Index (PMI) has been in the expansion zone for 23 consecutive months since August 2021.

7. Survey Details

• The PMI survey queried 400 companies from a variety of industries, including non-retail consumer services, transportation, information and communication, finance, insurance, real estate, and business services.

India to grow at average 6.7% per year from FY24 to FY31: S&P Global

The analysis, titled “Look Forward: India’s Moment,” by S&P Global, forecasts India’s economic growth trajectory from fiscal year 2023-24 (FY24) to fiscal year 31 (FY31). The country is set to remain the fastest-growing large economy, with an expected GDP growth rate of 6% in FY24. S&P Global is bullish on India’s prospects, projecting an average annual growth rate of 6.7% during this timeframe, driven mostly by capital expansion. The report envisions India’s GDP to reach $6.7 trillion by FY31, and per capita GDP to rise to approximately $4,500.

Daily Current Affairs Quiz: August 2023

I. India’s Strong Recovery from the Pandemic

India’s GDP growth rebounded impressively at 7.2% in fiscal year 2023 after navigating through the challenges of the pandemic.

II. Capital Expansion as the Dominant Growth Driver

According to S&P Global, capital would contribute considerably to India’s 6.7% average GDP growth over the next decade, with a projected 53% contribution by the end of FY31.

III. The Role of the Private Sector in Investments

While the government has played a pivotal role in boosting investments, the report foresees the private sector gradually increasing its investments due to healthy corporate balance sheets. Various factors, including government intervention through initiatives like the production-linked incentive scheme, will drive private investments.

IV. Challenges and Opportunities for Private Sector Investments

1. Healthy Corporate Balance Sheets: Favorable corporate financials create a conducive environment for increased private sector investments.
2. Government’s Interventionist Investment Strategy: The proactive investment approach of the government, such as the production-linked reward plan, will stimulate private investment.
3. Capacity Utilization: As capacity utilization rises across sectors, it will encourage private investments.

V. Leveraging Demographic Dividend and Increasing Labor Force Participation

India’s 678.6 million-strong labor force will play a crucial role in driving short-term economic growth. Increasing women’s participation in the labor force will be pivotal for sustained growth, given that only 24% were participating in 2022.

VI. Paving the Way to Becoming a Global Manufacturing Hub

India aspires to boost its share of global manufacturing exports and enhance manufacturing’s contribution to GDP to 25% by 2025 in order to safeguard its economic future. A robust logistics framework will be essential in achieving this goal.

VII. The Role of Digital Infrastructure in Driving Growth

Digital infrastructure presents a significant opportunity for high growth. Advancements in technology and connectivity will fuel various sectors of the economy.

VIII. The Need for Structural Reforms

Success in achieving sustained growth will depend on India’s ability to implement structural reforms in land, logistics, and labor. These reforms will enhance competitiveness and attract more foreign direct investments.

IX. Geopolitics as a Tailwind

Favorable geopolitical factors can provide additional support to India’s economic growth prospects.

Noted Marathi poet Namdeo Dhondo Mahanor passes away

Namdeo Dhondo Mahanor, often known as Na Dho Mahanor, was a well-known Marathi poet and lyricist. He was 81. Mahanor was best known for his poems and lyrics for Marathi movies. Born in 1942, Namdeo Dhondo Mahanor was awarded Padma Shri in 1991. He has also served on the state legislative council. Mahanor authored popular poetry and songs such as ‘Jagala Prem Arpave,’ ‘Ganga Wahu De Nirmal,’ and ‘Divelaganichi Vel,’ as well as songs for Marathi films such as ‘Ek Hota Vidushak,’ ‘Jait Re Jait,’ ‘Sarja,’ and others.

Daily Current Affairs Quiz: August 2023

Born in a small village in Aurangabad (now called ‘Sambahajinagar’), one of Mr. Mahanor early works, the novel Ajintha (1984), detailing a 19^th century love story about the English soldier-antiquarian Major Robert Gill (who copied the Ajanta cave frescoes) and a tribal girl, was later made into a film by acclaimed art director Nitin Chandrakant Desai, who incidentally passed a day before Mr. Mahanor. Mahanor experimented with art and agriculture. It can be observed in his films such as Mukta and the Lavani songs he penned for the film ‘Ek Hota Vidushak,’ which became very popular. Lataphal was the name he gave to the custard apples cultivated on his farm that were not damaged by the drought.

President of india inaugurates ‘unmesha’ and ‘utkarsh’ festivals

The President of India commenced the ‘Unmesha‘ International Literature Festival and the ‘Utkarsh‘ Festival of Folk and Tribal Performing Arts in Bhopal, Madhya Pradesh. These festivals, organised by the Sahitya Akademi and the Sangeet Natak Akademi, both aim to celebrate inclusivity and cultural diversity in the region. With the participation of over 800 artists from various states and Union Territories, the events promise to be a vibrant showcase of artistic expressions.

Daily Current Affairs Quiz: August 2023

The ‘Unmesha’ festival spans three days and brings together literary enthusiasts from around the world, providing a platform for intellectual exchange and creative discussions. On the other hand, ‘Utkarsh’ honors the rich heritage of folk and tribal traditions in India, offering a stage for these expressive art forms to thrive and captivate the audience.

Unmesha: India’s Inclusive and Expansive Literary Gathering

• The ‘Unmesha’ festival has earned accolades as India’s most inclusive and Asia’s largest literary gathering.
• With over 575 authors taking part in 102 languages over 75 events, ‘Unmesha’ is on its way to becoming the world’s largest literature festival.
• The presence of writers from 13 countries further enhances its global reach, sparking cross-cultural dialogues that enrich the collective human experience.

Utkarsh: Celebrating India’s Rich Folk and Tribal Traditions

• The ‘Utkarsh’ festival stands as a tribute to India’s rich heritage of folk and tribal expressions.
• It provides a significant venue for traditional artists and performers to present their art forms while also preserving varied communities’ cultural legacies.
• Through ‘Utkarsh,’ India proudly displays a vivid tapestry of its cultural diversity, fostering appreciation for indigenous arts and showcasing their value in a modern, interconnected world.

Unmesha & Utkarsh festivals: Fostering Tribal Progress

For India’s path towards becoming a developed nation, it is crucial to ensure the progress of tribal communities. Taking part in these events is a collaborative effort in which people actively engage in the growth of the country while also preserving their rich culture, traditions, customs, and the magnificent natural environment they respect as their homeland.

Key takeaways for competitive examinations

• Governor of Madhya Pradesh: Mangubhai Patel
• Chief Minister of Madhya Pradesh: Shivraj Singh Chouhan

Indian Railways & IIT-Madras ink MoU for 5G testbed

The Ministry of Railways and the Indian Institute of Technology Madras (IIT Madras) signed a memorandum of understanding ((MoU) to establish the India 5G testbed at the Indian Railway Institute of Signal Engineering and Telecommunications (IRISET) in Secunderabad; the facility would be dedicated to the testing and development of 5G use cases for Indian Railways.

Daily Current Affairs Quiz: August 2023

The MoU between IRISET and IIT-Madras intends to accelerate Indian Railways’ indigenisation efforts in the field of communications and to establish a testing centre for Indian Railways. The Indian Railways aims to leverage the potential of 5G technology to enhance its operational efficiency, passenger experience and overall safety. Researchers and industry experts will investigate creative methods to modernise many parts of railway communication and services by modelling real-world scenarios.

About the 5G testbed

As part of the indigenous 5G testbed project funded by the Department of Telecommunications (DoT) to a consortium of eight institutes, IIT-Kanpur, Society for Applied Microwave Electronics Engineering and Research (SAMEER) under MeitY, IIT-Bombay, Centre of Excellence in Wireless Technology (CEWiT), a society of IIT-Madras, and IIT-Madras developed the indigenous 5G solution and testbed.

The establishment of the India 5G testbed represents an important step in harnessing the potential of 5G technology for the railway industry. It will enable Indian Railways to explore and implement innovative solutions that can transform various aspects of railway communication and services.

Govt to launch e-CARe website for families of Indians who die abroad

The Union government will launch a Portal called e-CARe (e-Clearance for Interlife Remains) on August 3rd, 2023, to facilitate the speedy repatriation of bodies of Indians who die abroad. e-CARe stands for e-Clearance for Interlife Remains and aims to avoid the delay in transporting dead human bodies to the international borders and take them to their native land through appropriate measures and hand over their bodies to their families.

Daily Current Affairs Quiz: August 2023

About the portal

Nodal officers from the Airport Health Organisation (APHO) will be monitoring the portal 24X7. They will be responsible for the scrutiny of the applications and approvals. There will also be an alert-based system which will help officials track the applications. The nodal officer will be based in Delhi and reviews have to be done in a time-bound manner. Approval to the application shall be given within 48 hours.

The Process

According to Union Health Minister Mansukh Mandaviya, the applicant must submit scanned copies of four documents: the deceased’s death certificate, embalming certificate, no-objection certificate (NOC) from an Indian embassy or consulate, and the deceased’s cancelled passport. 

At present, one needs an e-mail based clearance from the Airport Health Officer (APHO) to transport the mortal remains of a loved one from another country. The request has to be made through the transporting airlines. Further, there is delay in the existing system as clarification is sought by various agencies involved in the approval process who work separately. There is also a delay on account of international time zones.

However, in the e-CARe model, once an application for transportation of mortal remains is made, intimation will be sent via email, SMS as well as WhatsApp to the Central International Health Division, Nodal Officer, APHOs, consignees and the airlines for timely action. 

Furthermore, the applicant and other stakeholders, including the airline in question, will be able to view the status via the e-CARe portal by entering their registration number. Furthermore, anyone can apply for transporting of the mortal remains including the family members of the deceased and become the consignee not just the airlines.

Draupadi Murmu inaugurated Folk and Tribal Arts Program and International Literary Festival in Madhya Pradesh

The President of India Draupadi Murmu inaugurated the National Festival of India’s Tribal and Folk Peoples “Utkarsh” and the International Literary Festival “Unmesh” in Bhopal, Madhya Pradesh.  the program is being conducted by the State Sangeet Natak Akademi Organization and the Madhya Pradesh State Department of Culture and Sahitya Akademi between August 3rd and August 5th, 2023.

Daily Current Affairs Quiz: August 2023

On this occasion, the President said that literature shows the mirror to humanity and takes it forward. It connects as well as connecting. He said that it is to be seen from the Amrit Kaal Mein Unmesh program that what is being created in literature today, which is being read by a large number of people. The President said that Utkarsh means progress and the progress of the tribal group will lead to the progress of the country. It is the responsibility of all of us to preserve the tribal tradition, language and culture.

NHAI launches a mobile app called Rajmarkyatra.

The National Highways Authority of India (NHAI) launched “Rajmargyatra“, an integrated public and pedestrian-centric mobile application, in August 2023. The app will serve as a one-stop repository of essential information, integrating timely broadcast notifications, detailed highway information, and details of other essential services to ensure smooth and safe travel on national highways.

Daily Current Affairs Quiz: August 2023

Users can report highway-related issues and attach geo-tagged videos or photos for clarity. Complaints will be handled promptly, with system-generated escalations to higher authorities in case of delays. Users can track the status of their grievances for transparency.

Additionally, ‘Rajmargyatra’ integrates FASTag services, allowing users to recharge their FASTags, avail monthly passes, and access other related banking services within the app. The app also sends over-speeding notifications and offers voice-assistance to promote responsible and safe driving behavior.

Gujarat state government and GE Power India Contract worth of Rs 440 crore.

The Gujarat State Electricity Board and GE Power India signed an MoU on August 02, 2023, aimed at meeting the electricity demand of the state worth Rs.440 crore and easing electricity restrictions and providing uninterrupted power across the state.

Daily Current Affairs Quiz: August 2023

The MoU will cover the necessary production equipment, design, engineering, manufacturing, high-fitting and PG testing by January 2026.

Pocket FM appointed Pannagadatta K Shivaswamy as its chairman to lead the company’s AI initiatives.

Pocket FM appointed ex-Netflix executive Pannagadatta K Shivaswamy in August 2023 to lead the artificial intelligence (AI) initiative of the streaming platform. Pannagadatta K Shivaswamy will head the startup’s AI assistance strategy and oversee the integration of content analytics for voice assistants and audio assistants.

Daily Current Affairs Quiz: August 2023

“Pocket FM has already established itself as a frontrunner in the entertainment space with a completely new audio series category, and I look forward to leveraging AI’s power to enhance its capabilities and create immersive experiences for millions of our users,” he said in a statement.

Cloves Syndrome Awareness Day 2023

Every year, The 3rd of August is observed as Clove Syndrome Awareness Day across the world. the day aims to spread social awareness about the rare genetic disorder or Clove Syndrome to the global public.

Daily Current Affairs Quiz: August 2023

This event is held in August every year and is observed around the world to help more people understand what Cloves is and how it can impact people. Spreading awareness about rare diseases is important, and that is what this day is all about.

Once you raise awareness, you see an increase in interest, compassion, and care towards those who suffer from issues like Cloves. Learning about all the differences throughout the world in humans can make a community stronger and more engaged. Events like this one lead to more chances for research, treatments, and provide improved outcomes for those who have this syndrome by creating a more active patient population.

History of Cloves Syndrome Awareness Day

Caring for those in the community is important, and to be able to effectively do this, society should be as educated as possible on the different challenges that people face.

Cloves is one of these challenges, and more knowledge leads to increased empathy, which leads to better research, which leads to better treatment. Raising awareness and donations for this cause allows people to receive the therapy they require in order to live their best lives. We, as members of the world community, should take an interest in helping people, which is what this event is all about.

So, no matter how you choose to raise awareness on Cloves Syndrome Awareness Day, make sure that you are heard as much as possible, and help people to understand this disease and the impacts it can have.