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Current Affairs

English MediumDigest MARCH - 2022

st thCoverage from 1 Feb. to 28 Feb. - 2022

Russia vetoes UNSC resolution demanding halt of invasion in Ukraine

Legendary singer Lata Mangeshkar passed away at the age of 92.

Russia-Ukraine conflictRussia-Ukraine conflictRussia-Ukraine conflict Lata MangeshkarLata MangeshkarLata Mangeshkar

‘EX DHARMA GUARDIAN-2022’‘EX DHARMA GUARDIAN-2022’‘EX DHARMA GUARDIAN-2022’ Winter Olympic Games 2022Winter Olympic Games 2022Winter Olympic Games 2022

Third India-Japan joint exercise was conducted from 27 February to 10 March 2022, at Belagavi (Belgaum), Karnataka.

India’s teen chess Grandmaster, Rameshbabu Praggnanandhaa becomes youngest player to

beat world no 1 Magnus Carlsen

India ranks 43 in the Index among 55 countries, USA topped

Norway has topped for the second successive Winter Olympics, winning a total of 37 medals,

including 16 golds.

R PraggnanandhaaR PraggnanandhaaR Praggnanandhaa

International Intellectual International Intellectual Property Index 2022Property Index 2022

International Intellectual Property Index 2022

FOR ANY QUERIES : 97000 77411 / 422 97000 77411

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The attack on Ukraine by Russia is potentially the onset of war in Europe on top of Russia’s behest for an end to NATO’s eastward expansion. The launch of the major invasion by Russia on Ukraine, that started on 24th February with air and missile assaults on Ukrainian military targets before sending troops and tanks across the country’s northern, eastern, and southern borders. On many fronts, the Ukrainian military fought back. In a video speech delivered early February 25, Ukraine President Volodymyr Zelenskyy announced that 137 people had been killed, including troops and civilians, and that hundreds more had been injured.. Background Since the invasion of Crimea in 2014, Ukraine has

been living in fear of war with Russia for nearly eight years. Russia and Ukraine have been at odds for a long time, with Russia claiming Ukraine as a part of its country and opposing Ukraine’s developing ties to the West. Russian President Vladimir Putin wants to recapture the former Soviet Union Republic.

Prior to its cessation in 1991, Russia and Ukraine were both members of the Union of Soviet Socialist Republics (USSR), which consisted of 15 republics.

Russian President, Vladimir Putin has recognised the independence of separatist regions in eastern Ukraine – Donetsk and Luhansk. Putin’s announcement paved the way for Russia to openly send troops and weapons to the long-running

conflict pitting Ukrainian forces against Moscow-backed rebels. Russian-backed rebels have been fighting Ukrainian troops in Donetsk and Luhansk since 2014, with regular violence despite a ceasefire agreement.

Putin signed decrees recognizing the Donetsk and Luhansk regions’ independence, eight years after fighting erupted between Russia-backed separatists and Ukrainian forces, and called on lawmakers to approve measures paving the way for military support.

The reasons behind the war

The tensions between Russia and Ukraine, a former Soviet republic, that existed for a decent amount of time, began to escalate out of control in early 2021. Volodymyr Zelenskyy, Ukraine’s President hinted the US President Joe Biden to allow Ukraine to join the NATO forces in January of last year.

This highly infuriated Russia, which began sending soldiers near the Ukrainian border for “training exercises” in the spring of last year and boosted the number in the fall. The US began to hype that there is a deployment of Russian troops, and Vice President Joe Biden had threatened Russia with heavy sanctions if Russia attacked Ukraine.

Russia wants a legally enforceable promise from the US that NATO forces will not conduct any military operations in eastern Europe, especially in Ukraine. According to the Russian President,



Vladimir Putin, Ukraine is merely a puppet of the US and was never a real sovereign country in the first place.

This isn’t the first time that conflicts between Russia and Ukraine have erupted. Russia had previously invaded Ukraine in 2014, it happened when pro-Putin separatists captured major swaths of eastern Ukraine, and they have been fighting the Ukrainian army since the invasion. Russia also annexed Crimea at that time.

Ukraine has extensive social and cultural ties with Russia, and Russian is widely spoken there, but those ties have deteriorated since Russia invaded Ukraine in 2014.

When Ukraine’s pro-Russian president lost in early 2014, Russia came to an offensive. It is estimated that more than 14,000 people have died as a result of the continuous war happening in the east.

The Minsk peace agreement was signed by Russia and Ukraine to end the ongoing violent armed conflict which was going on in east Ukraine, including Donbas region. However, as the armed conflict continues, Russia said that it will be sending “peacekeepers” to the affected region. According to the , Moscow is using it as a cover to occupy sovereign Ukrainian country.

The rising tension between Russia and Ukraine, which shares a border with the European Union, has ramifications for the European Union. This is why the European Union has joined the US in declaration of the penalties against Russian firms, the majority of which the NATO members.

Timeline of the Russia-Ukraine Conflict 28th of February 2022 Peace talks between Russia and Ukraine were held

at Ukraine's border with Belarus -- near the Chernobyl exclusion zone -- after a call between President Volodymyr Zelensky and Belarus leader Alexander Lukashenko. Ukraine had earlier refused to talk in Belarus, where Russian troops were stationed before the invasion.

27th of February 2022 SWIFT Payment System: The European Union,

along with the United States and other allies plan to cut off Russia from the SWIFT Payment System. The decision has not been officially issued yet but the technical preparations are ongoing, according to Ukrainian Foreign Affairs Minister Dmytro Kuleba.

This comes after Hungary extended its support to cut off Russia from SWIFT. Hungary was the last European Union country to oppose the measure.

SWIFT is a Belgium-based co-operative that serves as an intermediary and executor of financial transactions between banks worldwide. Swift Transfer is also called International Money Transfer.

SWIFT full form is The Society for Worldwide Interbank Financial Telecommunication

26th of February 2022 Russia vetoed a UN Security Council resolution

that deplored the country’s aggression against Ukraine “in the strongest terms” and called for unconditional withdrawal of its troops from Ukrainian territory. Eleven of the 15 permanent and non-permanent members voted for the resolution which was co-written by the US and Albania, while three countries abstained.

Countries that voted to adopt the motion were France, Britain, US, Albania, Brazil, Gabon, Ghana, Ireland, Kenya, Mexico, and Norway.

China, India, and United Arab Emirates abstained.

24th of February 2022 President of Russia, Vladimir Putin has

announced a military operation in Ukraine, and he is warning other countries that any attempt to interfere with the Russian action would lead to “consequences they have never seen.

Putin called on Ukrainian soldiers to lay down their arms and justified the operation by claiming the government was overseeing a “genocide” in the east of the country.



UN Secretary-General Antonio Guterres urges Putin to “stop troops from attacking Ukraine”.

23rd of February 2022 The US and the West reacted by imposing the first

tranche of sanctions against Russia for launching an invasion of Ukraine. This includes sanctions against two large Russian financial institutions and Russian sovereign debt, and sanctions against Russian elites and their family members

Australia became the latest country to announce sanctions against Russia. Australia will enact travel bans as well as targeted financial sanctions on eight members of the Security Council of the Russian Federation.Germany has halted major gas pipeline projects from Russia.

22nd of February 2022 President Vladimir Putin of Russia has delivered

an emotional and aggrieved address laying claim to all of Ukraine as a country “created by Russia,” recognising the independence of two Russian-backed territories in eastern Ukraine and threatening the government of Ukraine that the bloodshed could continue.

Immediately after the speech, state television showed Putin at the Kremlin signing decrees recognising the so-called Donetsk and Luhansk People’s Republics, which were created after Russia fomented a separatist war in eastern Ukraine in 2014.

Russia’s upper house of parliament has given President Vladimir Putin permission to use military force outside the country.

12th of February 2022 Biden and Putin hold talks via video conference.

The US president said a Russian invasion of Ukraine would cause “widespread human suffering” and that the West was committed to diplomacy to end the crisis but “equally prepared for other scenarios”.

Putin complained in the call that the US and NATO have not responded satisfactorily to Russian demands that Ukraine be prohibited from

joining the military alliance and that NATO pull back forces from Eastern Europe.

11th of February 2022 Biden’s national security adviser, Jake Sullivan,

says US intelligence shows a Russian invasion could begin within days, before the Beijing Olympics end on February 20.

The U.S. and the U.K. urge their citizens to leave Ukraine. President Biden announces the deployment of another 2,000 troops from the U.S. to Poland.

17th of December 2021 Russia presents detailed security demands to the

West, including that NATO ceases all military activity in eastern Europe and Ukraine and that the alliance never accept Ukraine or other former Soviet nations as members.

November 2021 Satellite imagery shows a new build-up of Russian

troops on the border with Ukraine, and Kyiv says Moscow has mobilised 100,000 soldiers along with tanks and other military hardware.

Russia

Ukraine

Belarus

President: Vladimir

Putin

President: Volodymyr Zelensky

President: Alexander

Lukashenko Capital: Moscow

Capital: Kyiv

Capital: Minsk

Currency: Rouble

Currency: Ukrainian hryvnia

Currency: Belarusian ruble

NATO (The North Atlantic Treaty Organization)

Secretary General:

Jens Stoltenberg

……………. Founded: 4 April 1949

Headquarters: Brussels, Belgium

…………………. At present,

NATO has 30 members



INTERNATIONAL AND BILATERAL Canada approved world’s 1st plant-derived COVID-19 vaccine Canada became the first country in the world that

has authorized the use of a plant-based COVID-19 vaccine. The two-dose vaccine of Medicago Inc. (a biopharma company owned by Mitsubishi Chemical and Philip Morris), can be given to adults who are aged between 18 to 64, but little data is available on the shots received by people aged 65 and above.

The decision to authorize the vaccine was based on a study conducted on 24,000 adults that showed the efficacy rate of the vaccine is 71% at preventing COVID-19 – although the tests were conducted before the omicron variant emerged. Covifenz is the name given to this vaccine. Canada agreed to buy 20 million doses of this plant-based vaccine, with an option to purchase 56 million additional doses.

France announces military withdrawal from Mali after nine years French president, Emmanuel Macron has

announced that France and its European partners will start the military withdrawal from Mali after more than nine years fighting a jihadist insurgency. France first deployed troops against jihadists in Mali in 2013 under the Socialist president François Hollande.

The decision has been taken due to a breakdown in France’s relations with the ruling junta government in the country. The heart of this military operation will be shifted from Mali to Niger.

Nepal will become 1st country to deploy India’s UPI platform Nepal will be the first country to adopt India’s UPI

system, which will play a pivotal role in transforming the digital economy of the neighbouring country, the National Payments Corporation of India (NPCI). NPCI International Payments Ltd (NIPL), the international arm of

NPCI, has joined hands with Gateway Payments Service (GPS) & Manam Infotech to provide the services. GPS is the authorized payment system operator in Nepal. Manam Infotech will deploy Unified Payments Interface (UPI) in Nepal.

The collaboration will serve the larger digital public good in Nepal and bolster interoperable real-time person-to-person (P2P) and person-to-merchant (P2M) transactions in the neighbouring country.

Nepal shall be the first country outside of India to adopt UPI as the payments platform driving the digitalization of cash transactions and furthering the vision and objectives of the Nepal Government and Nepal Rastra Bank as the Central bank.

Israel became first country to allow drones in civilian airspace Israel becomes the first-ever country to allow drone

flights in civilian airspace. The certification was issued to the Hermes Starliner unmanned system by the Israeli Civil Aviation Authority and was manufactured and developed by Elbit Systems, an Israeli defence electronics company. The UAVs will be used for the benefit of agriculture, the environment, public welfare, economic activity and against crime. For safety reasons, international aviation regulations prohibit uncertified aircraft from flying in civilian airspace, limiting the operation of UAVs to unsegregated airspace.

Dubai will launch World’s first Hydrogen-powered flying boat ‘The Jet’ Dubai firm, THE JET ZeroEmission announced the

launch of the World’s first hydrogen-powered flying boat ‘THE JET’ in Dubai, United Arab Emirates. ‘THE JET’ features cutting-edge characteristics and technologies, making it capable of flying in silence over the waters at a cruising speed of 40 knots and also has a capacity of carrying 8-12 passengers. THE JET will have its inaugural flight during the COP28, which is scheduled to be held in Dubai, UAE in 2023.



NATIONALPM-KISAN completes three years of implementation 24th February 2022, marks the 3rd anniversary of

Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Scheme.It was launched on 24th February in 2019 by Prime Minister Narendra Modi at Gorakhpur, Uttar Pradesh.

It is 100% funded by the central government under the Ministry of Agriculture and Farmers Welfare(MoAFW) to provide income support to all landholding farmers and their families irrespective of the land size inorder to meet their expenses related to agriculture and domestic needs.

Under the Scheme, Farmers will receive an amount of Rs.6000 per year in 3 equal instalments of Rs.2000 directly into their bank accounts.

As on February 22, 2022, the scheme has provided benefits to about 11.78 Crore farmers and funds amounting to Rs 1.82 lakh crore in various installments have been released to the eligible beneficiaries.

Initially, the Scheme provided income support to all families of Small and Marginal Farmers having cultivableland up to 2 hectares which was then expanded to cover farmers irrespective of the size of their landholdings.

Government of India has allocated Rs 68,000 Crore for PM-KISAN in the Union Budget 2022-23.

India’s First Railway Solar Power Plant commissioned at Bina, Madhya Pradesh Indian Railways along Bharat Heavy Electricals

Limited (BHEL), has Successfully commissioned India’s first Solar Photovoltaic Plant of 1.7-MegaWatt (MW) at Bina, Madhya Pradesh. The

plant is under extensive testing and willbe in operation for Indian Railways .

The solar plant will be directly connected to the overhead traction system. And will produce approximately 25lakh units of energy annually.

The construction of a solar plant by Indian Railways is a step to fulfil its self-sufficient energy needs by‘Atmanirbhar Bharat’.

The solar power plant has been installed on vacant unused lands for Renewable Energy (RE) projects of IndianRailways.

The installation of the solar plants is to achieve conversion of Indian Railways to ‘Net Zero’ Carbon Emission and‘Go Green’ by 2030.Its aiming to reduce 2,160 tonnes of carbon dioxide emission every year.

Ministry of Education launches Bhasha Certificate Selfie campaign The Ministry of Education has launched a campaign

titled ‘Bhasha Certificate Selfie’. The aim of this campaign is to promote the Bhasha Sangam mobile app, launched by the Ministry under the aegis of Ek Bharat Shreshtha

Bharat to encourage cultural diversity and promote multilingualism.

Bhasha Sangam mobile app was launched on October 31, 2021, by Minister of Education and Skill Development Shri Dharmendra Pradhan, to lay emphasis on the promotion of Indian languages.

The app has been developed by the Ministry of Education and MyGov India and allows users to learn 100+ sentences of daily use in as many as 22 scheduled Indian languages. The ‘Bhasha Certificate Selfie’ initiative is encouraging people to upload their selfie with the certificate using the hashtag #BhashaCertificateSelfie.



GoI launched mission Ganga to evacuate nationals from Ukraine The government of India has launched an

evacuation mission named Operation Ganga to evacuate Indian nationals from Ukraine due to the Russia-Ukraine tension. Due to the ongoing tension between Ukraine and Russia, Ukraine has been declared as a no-fly zone by the authorities for the safety and security of the nations. Due to this many Indian nationals were left stranded in Ukraine. To help the Indian citizens come back to the country, the government of India decided to conduct a special evacuation mission named Operation Ganga. The government will bring back Indian nationals via flight.

GoI approves implementation of Ayushman Bharat Digital Mission with a budget of Rs.1,600crore Union Cabinet has approved the pan-India

implementation of Ayushman Bharat Digital Mission (ABDM) with a budget of Rs.1,600 crore for five years.

Ayushman Bharat Digital Mission is a scheme of Ministry of Health and Family Welfare, Government of India. The National Health Authority (NHA) will be the implementing agency of Ayushman Bharat Digital Mission (ABDM).

Ayushman Bharat Digital Mission (ABDM) was launched by PM Modi in September 2021.

Under this scheme ciizen will have 14 digit ABHA (Ayushman Bharat Health Account) numbers, to which their digital health records can be linked.

Objective of Ayushman Bharat – Digital Mission aims to connect the digital health solutions of

hospitals across the country with each other. This digitisation will make healthcare easier.

Sarbananda Sonowal inaugurates ‘Nikarshan Sadan’ Dredging Museum in Visakhapatnam The Union Minister for Ports ,Shipping and

Waterways, Shri Sarbananda Sonowal inaugurated ‘Nikarshan Sadan’ – The DCI (Dredging Corporation of India) Dredging Museum in Vishakhapatnam recently.

The museum will display different types of models of dredgers, vintage photos & historical milestones of DCI.

DCI is celebrating 45 years of rendering dedicated dredging services to the Nation in 2022.

Shri Sarbananda Sonowal also inaugurated Centre of Excellence in Maritime and Shipbuilding (CEMS) in Vishakhapatnam.

CEMA is a skill development facility to provide opportunities for the youth to enhance their skills thereby improving employability and be industry-ready.

Dredging is the process of removing silt and other unwanted materials from the floor of any ocean body and disposing of them at some other site.

PM Modi virtually inaugurates ‘Kisan Drone Yatra’ at Manesar and flags off 100 Kisan Drones Prime Minister Narendra Modi virtually

inaugurated the ‘Kisan Drone Yatra’ at Manesar, in Haryana, on February 19, 2022, and addressed a group of farmers.

As a part of the event, PM flagged off 100 Kisan drones in different cities and towns of India.

These Kisan drones will be used for crop assessment, digitization of land records, spraying of pesticides and other nutrients in farms across India.

The initiative will support the farmers and further boost the agricultural sector and drone sector of the country.



These drones have been manufactured by Chennai-based Garuda Aerospace, which has set a target of manufacturing 1 lakh Made in India drones in the next 2 years.

GoI organise week-long ‘Vigyan Sarvatra Pujyate’ Science exhibition at 75 locations across country The Government of India has organised a week-

long science exhibition titled ‘Vigyan Sarvatra Pujyate’ (िव ान सव पु यत)े from February 22 to 28, 2022, as part of the Azadi Ka Amrit Mahotsav commemoration. It will be conducted simultaneously at 75 locations across the country through a hybrid mode.

The festival will celebrate science and technology (S&T) and display the country’s scientific legacy and technology prowess.

The inaugural programme was held at Vigyan Bhavan, New Delhi on 22nd of February.

The festival will culminate on February 28, 2022, which coincide with the National Science Day, commemorated in remembrance of Nobel Laureate Sir C.V. Raman’s path-breaking discovery of the Raman Effect in 1930.

The exhibition shall feature 75 expositions, 75 lectures, 75 films, 75 radio talks, 75 science literary activities, and more.

The event has been grouped into four major themes

From the annals of the history of Science and Technology

Milestones of Modern Indian Science and Technology

Swadeshi Paramparik Inventions and Innovations, Science and Technology

Transforming India

India’s first Biosafety Level-3 mobile laboratory inaugurated in Maharashtra’s Nashik Union Minister of State for Health and Family

Welfare Bharati Pravin Pawar inaugurated India’s first Biosafety level-3 containment mobile laboratory in Nashik, Maharashtra.

The mobile laboratory will help to investigate newly emerging and re-emerging viral infections, by specially trained scientists from ICMR.

The newly launched lab will be able to access remote and forested areas of the country, to investigate outbreaks using samples from humans and animal sources.

GoI plans ‘Heal by India’ for positioning India as global source for health sector The government of India will be promoting the

‘Heal by India’ initiative to improve India’s educational institutions in the health sector.

The Union Health Ministry recently organized a Chintan Shivir — ‘Heal by India’ for two days.

‘Heal by India’ initiative is meant to generate job opportunities abroad for India’s trained professionals in the health sector and enhance education to churn out quality human resources in health, thus helping them become eligible to work anywhere in the world.

GoI to launch ‘Meri Policy Mere Hath’ under PMFBY to deliver crop insurance policies to farmers at doorstep Ministry of Agriculture & Farmers Welfare will

launch ‘Meri Policy Mere Hath’ which is a doorstep distribution drive to deliver crop insurance policies to farmers under the Pradhan Mantri Fasal Bima Yojana (PMFBY).

The campaign aims to ensure all farmers are aware with all information on their policies, land records, the process of claim and grievance redressal under PMFBY.



The Pradhan Mantri Fasal Bima Yojana (PMFBY) has completed 6 years of its implementation. It was launched by PM Modi on 18th February 2016 at Sehore, Madhya Pradesh.

PM Modi inaugurates 550-tonne capacity Gobar-Dhan (Bio-CNG) Plant in Indore Prime Minister Shri Narendra Modi inaugurated a

550-tonne capacity “Gobar-Dhan (Bio-CNG) Plant” in Indore, Madhya Pradesh on February 19, 2022, through video conferencing.

This is the biggest Bio-CNG plant in Asia. It has been set up at a cost of Rs 150 crore.

The gobardhan plant is based on the concept of waste-to-wealth innovation.

Wet urban household waste and waste from cattle and farm is Gobar Dhan.

Need for Bio CNG Plant? Lakhs of tonnes of garbage have occupied thousand of acres of land for decades across country causing air and water pollution, major reason behind spread of diseases.

The plant is based on zero landfill models, which means no rejects would be generated.

Benefits: reduction in greenhouse gas emissions, providing green energy; and organic compost as fertiliser.

The Indore Gober Dhan Bio CNG plant will produce around 17,000 kg per day of CNG, and 100 tonnes per day of organic compost.

It is proposed that such Gober Dhan Bio CNG plants will be established in 75 big Municipal bodies in coming two years.

GoI sets up National Dam Safety Authority The Parliament of India had passed the Dam Safety

Act 2021 on December 8, 2021, which seeks to provide an institutional architecture for dam safety in the country.

Following this, the Central Government has established an Authority, which shall known as the National Dam Safety Authority, to discharge the

powers and functions of the National Authority under the Dam Safety Act.

The Authority came into force with effect from February 18, 2022.

Key Functions of Authority: To maintain standards related to dam safety, prevent dam-related disasters as well as resolve inter-state issues in this regard.

To resolve any issue between the State Dam Safety Organisations of States or between a State Dam Safety Organisation and any owner of a specified dam in that state.

Administration: The authority will be headed by a chairman and assisted by five members to lead its five wings, which are policy and research, technical, regulation, disaster and resilience and administration and finance.

Headquarter: The headquarter of the Authority will be located in the national capital region, and have four regional offices.

Apart from this, government has also constituted up a 22-member National Committee on Dam Safety. This committee will be headed by the Chairman of the Central Water Commission.

India’s first water taxi service inaugurated to connect South Mumbai with Navi Mumbai The Union Minister of Ports, Shipping and

Waterways Sarbananda Sonowal flagged off India’s first water taxi service in Maharashtra on February 17, 2022, from the newly constructed Belapur Jetty.

The Belapur Jetty was inaugurated by Maharashtra Chief Minister Uddhav Thackeray same day.

Both the inaugurations were held virtually.

The Water Taxi service will connect the twin cities of Navi Mumbai to mainland Mumbai.

This will be for the first time that South Mumbai to Navi Mumbai will be connected by fast and reliable transport services which will help in reducing the travelling time.

The Belapur Jetty project in Navi Mumbai has been built under the Sagarmala programme.



Ministry of Power notifies Green Hydrogen and Green Ammonia Policy Government had launched the National Hydrogen

Mission on India’s 75th Independence Day (i.e. 15th August, 2021).

Now the Ministry of Power has notified the Green Hydrogen and Green Ammonia Policy.

Target of Government: This is in line with Government’s target of production of 5 million tonnes of Green hydrogen by 2030. Highlights of the policy

Open Access with 15 days: Open access will be granted to the manufacturers within 15 days of receipt of application for the purchase of renewable power.

Banking of Green Power: The Green Hydrogen / Ammonia manufacturer can bank his unconsumed renewable power (save the surplus), up to 30 days, with distribution company and take it back when required.

Fee waiver for 25 years: Waiver of inter-state transmission charges for a period of 25 years will be allowed to the manufacturers of Green Hydrogen and Green Ammonia for the projects commissioned before 30th June 2025.

To ensure ease of doing business a single portal for carrying out all the activities including statutory clearances in a time bound manner will be set up by MNRE.

Career counselling workshop ‘Pramarsh 2022’ launched in Bikaner The Minister of State for Culture & Parliamentary

Affairs Shri Arjun Ram Meghwal launched ‘Pramarsh 2022’ , a mega career counselling workshop on February 15, 2022, for the students of the Bikaner District region in Rajasthan.

More than one lakh students from thousands of private & government schools of Bikaner district and mainly from rural areas, participated in this workshop.

It is first such incidence in India that more than 1 lakh Students participated in Career Counselling in one Workshop.

The “Pramarsh 2022” workshop is an extension of the effort to bridge the industry academia gap and impart the knowledge about various choices available to the student, to help them make a more informed decisions.

The Workshop was organised jointly by The National Institute of Career Services (NICS), under the Ministry of Labour & Employment and Bengaluru-based educational start-up Edumilestones, with support from Directorate of Education, Rajasthan.

FAITH releases Vision 2035 for tourism driven India Federation of Associations in Indian Tourism &

Hospitality (FAITH) has released the FAITH 2035 vision document containing goals and an execution path for making Indian tourism preferred and loved by the world by the year 2035.

The vision document has been launched commemorating the 75th year of Indian independence.

FAITH is the policy federation of all the national associations representing the complete tourism, travel and hospitality industry of India. Nakul Anand is the chairman of FAITH.

Ministry of Social Justice and Empowerment launches Scheme for Economic Empowerment of DNTs (SEED) The Union Minister of Social Justice and

Empowerment, Dr. Virendra Kumar launched a central sector scheme named the Scheme for Economic Empowerment for DNTs, (SEED) on February 16, 2022 at Dr. Ambedkar International Centre, New Delhi.

The objective of SEED is the welfare of De-notified, Nomadic and Semi Nomadic tribal Communities, which are the most neglected,



marginalized and economically and socially deprived communities.

Total financial outlay for SEED Scheme is approximately Rs 200 crore to be spent over a period of 5 years starting Financial Year 2021-22 to 2025-26.

The scheme will have following four components

To provide coaching of good quality for DNT/NT/SNT candidates to enable them to appear in competitive examinations.

To provide health insurance to DNT/NT/SNT Communities.

To facilitate livelihoods initiative at community level to build and strengthen small clusters of DNT/NT/SNT Communities institutions.

To provide financial assistance for construction of houses to members of the DNT/NT/SNT Communities.

Denotified Tribes (DNTs), also known as Vimukta Jati are the tribes that were listed originally under the Criminal Tribes Act of 1871

Government set target to replace diesel with renewable energy in agricultural sector by 2024 The Union Minister for Power, New and

Renewable energy, R K Singh has informed that the Government has planned to replace diesel with renewable source of energy to achieve the target of zero diesel use in the agricultural sector by 2024.

The initiative is a part of government’s commitment to increase the share of non-fossil fuels by 2030 and become a net zero emitter by 2070.

Nitin Gadkari inaugurates 14.5km long Rail-cum-Road Bridge over River Ganga in Bihar The Union Minister of Road Transport and

Highways Nitin Gadkari and Bihar Chief Minister Nitish Kumar jointly inaugurated the 14.5 kilometre long ‘Rail-cum-Road-Bridge’ in Bihar on February 11, 2022.

The much-awaited bridge is constructed over the River Ganga on NH 333B in Bihar’s Munger region.

The cost of the ‘Rail-cum-Road-Bridge’ project is Rs 696 crore.

The new bridge will reduce travel time, give a boost to tourism, agriculture as well as generate employment opportunities.

Atal Tunnel recognised as World’s longest highway tunnel by World Book of Records The World Book of Records has officially certified

the Atal Tunnel in Himachal Pradesh as the ‘World’s Longest Highway Tunnel above 10,000 Feet’.

The award for the achievement was received by Lt Gen Rajeev Chaudhry, Director General of Border Roads Organisation (DGBR) on February 09, 2022.

The 9.02 km long highway tunnel has been constructed by the Border Roads Organisation (BRO) under the Rohtang Pass on the Leh-Manali Highway in Himachal Pradesh.

It was dedicated to the nation by Prime Minister Narendra Modi on October 3, 2020.

Surat to get India’s 1st bullet train station The Mumbai-Ahmedabad bullet train project will

be India’s first bullet train route. While Surat city will get India’s first bullet train station.

National High-Speed Rail Corporation Ltd (NHSRCL) will be constructing this project that is scheduled to be completed by December 2024.

The cost of the project is estimated to be more than ₹1 lakh crore of which ₹88,000 crores will be funded by the Japan International Cooperation Agency (JICA).



India’s first biomass-based hydrogen plant to come up at Madhya Pradesh India’s first commercial-scale biomass-based

hydrogen plant will come up at Khandwa district of Madhya Pradesh.

Every day this plant will produce one tonne of hydrogen, from 30 tonnes of biomass feedstock. The plant is being put up by a joint venture of Watomo Energies Ltd and Biezel Green Energy.

“Thermally accelerated anaerobic digestion (TAD) reactor” is a technology that can produce hydrogen, methane and biochar from biomass.

PM Modi inaugurates 50th anniversary celebrations of ICRISAT Prime Minister Narendra Modi inaugurated the 50th

Anniversary celebrations of the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) on February 05, 2022 in Patancheru, Hyderabad.

During the occasion, PM also inaugurated two research facilities of ICRISAT, which were Climate Change Research Facility on Plant Protection and Rapid Generation Advancement Facility.Both these facilities are dedicated to the smallholder farmers of Asia and sub-Saharan Africa.

ICRISAT: is an international organization founded in 1972 and based in Patancheru, Hyderabad, Telangana.Its objective is to conduct agricultural research for rural development, in Asia & sub-Saharan Africa.

Centre extends IFLDP Programme for five years from 2021-2026 The Union Cabinet has approved the continuation

of the Indian Footwear and Leather Development

Programme (IFLDP) for five years from 2021-22 to 2025-26.

The total financial outlay approved for the programme is Rs. 1700 crore till March 31, 2026, or till further review, whichever is earlier..

The purpose of IFLDP Programme is to develop infrastructure for the leather sector, which can address environmental concerns specific to the leather sector, facilitate additional investments, employment generation and increase in production.

The central sector scheme was launched as Indian Footwear, Leather and Accessories Development Programme (IFLADP) for three years period during 2017-18 to 2019-20 with an outlay of Rs 2600 crore.

The scheme is implemented by the Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry.

PM Modi dedicates to nation ‘Statue of Equality’ Prime Minister Narendra Modi unveiled the 216-

feet tall ‘Statue of Equality’ in Hyderabad to the nation on February 05, 2022 dedicated to 11th-century Bhakti saint Sri Ramanujacharya.

It is the second tallest metallic statues in sitting position in the world. (Tallest?– Great Buddha of Thailand is the tallest statue, at 302-feet.)

The ‘Statue of Equality’ has been built to commemorate the 1000th birth anniversary of Sri Ramanujacharya, who promoted the idea of equality in all aspects of living, including faith, caste, and creed.

The statue is made of a combination of five metals (‘panchaloha’), which includes gold, silver, copper, brass, and zinc.

It has been mounted on a 54-feet high base building named ‘Bhadra Vedi’, at Muchintal village in Telangana.



The estimated cost of the project is Rs 1,000 crore (US$130 million), which was funded by donations from devotees around the world.

The statue has been conceptualised by Sri Chinna Jeeyar Swami of Sri Ramanujacharya Ashram.

Two new Indian sites added to Ramsar list as ‘wetlands of International importance’ On the occasion of World Wetlands Day 2022 on

2nd February, Government of India added two new Ramsar sites. These are:

Khijadiya wildlife sanctuary in Gujarat and

Bakhira wildlife sanctuary in Uttar Pradesh

With this, the total network of Ramsar sites in India has increased to 49, covering an area of 10,93,636 hectares, the highest in South Asia.Ramsar sites are wetlands of international importance as per UNESCO’s 1971 Convention on Wetlands held in Ramsar, Iran.

IUCN designates Aravalli Biodiversity Park in Gurugram as India’s first OECM site The Aravalli Biodiversity Park in Gurugram,

Haryana, has been declared as India’s first “other effective area-based conservation measures” (OECM) site.This was informed by the Union ministry of environment, forest and climate change on the occasion of World Wetlands Day on February 02, 2022.

The International Union for Conservation of Nature (IUCN) gives OECM tag to those areas that are not protected but support rich biodiversity.The tag designates the area as a biodiversity hotspot on the international map.

GoI nominates Hoysala Temples in Karnataka for World Heritage List in 2022-2023 The Ministry of Culture has nominated the ‘Sacred

Ensembles of Hoysala’ located in Karnataka for UNESCO’s World Heritage List for 2022-2023.

The ‘Sacred Ensembles of the Hoysala’ are on UNESCO’s Tentative list since April 15, 2014.

The Hoysala Temples was formally submitted for the nomination by the Permanent Representative of India to UNESCO Vishal V Sharma on January 31, 2022.

The Hoysalas temples nominated are represented by

Chennakesava Temple at Belur (dedicated to Lord Vishnu)

Hoysaleswara Temple at Halebidu (dedicated to Lord Shiva)

Kesava Temple at Somanathapura

Sacred Ensembles of Hoysala are a group of 25 Hindu and Jain temples built in 12th and 13th century AD by Hoysala Emperors. These temples are known for their unique architecture and sculptures.Currently India has 46 sites listed on UNESCO’s Tentative List of Heritage Sites.

India’s first geopark to be set up in Jabalpur district of Madhya Pradesh India’s first geological park is being set up at

Lamheta village of Jabalpur district in Madhya Pradesh.

The approval to set up the geopark has been granted by the Geological Survey of India (GSI).The estimated cost of setting the project is Rs 35 crore.

Geoparks are unified area where sites and landscapes of international geological significance are managed with a holistic concept of protection, education and sustainable development.

GSI is the scientific agency of India under the Ministry of Mines, Government of India.

GSI Headquarter – Kolkata, West Bengal.



Union Cabinet approves setting up of secretariat for India’s G20 presidency India is all set to hold the Presidency of the G20

(Group of Twenty) from December 1, 2022 to November 30, 2023. On February 15, 2022, the Union Cabinet, chaired by Prime Minister of India Narendra Modi approved the setting up of a G20 Secretariat and its reporting structures.

This Secretariat, functional till February 2024, will be responsible for the implementation of overall policy decisions and affairs needed for India’s G20 Presidency.

India to host the 2023 G20 Summit in Pragati

Maidan, New Delhi.

Udhampur-Srinagar-Baramulla Rail Link Project: Longest tunnel T-49 connected The longest tunnel of the Indian Railway T-49

between Sumber and Arpinchala station of the Katra-Banihal Section of the Udhampur-Srinagar-Baramulla Rail Link (USBRL) Project has been connected. It is of 12.758 kilometres (km) long and has become the longest tunnel surpassing the Peer Panjal Tunnel of 11.2 km length constructed by USBRL on the Banihal-Qazigund section.

The construction of the project has done by IRCON International Ltd under the Ministry of Railways.

GoI sanctions construction of 60,000 homes under PMAY(U) in 5 states Central Government of India gave approval to the

project proposals for the construction of more than 60,000 houses in 5 states including Andhra Pradesh, Chhattisgarh, Himachal Pradesh, Karnataka and Rajasthan under the Pradhan Mantri Awas Yojana –

Urban (PMAY-U) during the 58th meeting of Central Sanctioning and Monitoring Committee (CSMC). The virtual meeting was chaired by Manoj Joshi, Secretary, Ministry of Housing and Urban Affairs (MoHUA).

A booklet titled ‘Transformative Reforms Towards Housing for All’ was released by Manoj Joshi, Secretary, MoHUA.Proceedings of ‘Awas Par Samvaad’ also released. It is the first- of-its-kind initiative in the urban housing sector.

Ministry of Education approved “NILP” a new scheme of adult education Ministry of Education (MoE) approved a new

scheme “New India Literacy Programme (NILP) which is also known as Nav Bharat Literacy Program” for upcoming 5 years (FY 2022-27) to cover all the aspects of adult education to align with National Education Policy (NEP) 2020.

MoE replaced the term “Adult Education” with “Education for All” to cover non-literates of the age of 15 years and above with the help of “Online Teaching, Learning and Assessment System (OTLAS)” in collaboration withNational Informatics Centre, National Council of Educational Research and Training (NCERT) and National Institute of Open Schooling (NIOS).

The total estimation of NILP is Rs.1037.90 crore, in which the Central government and State government share Rs 700 crore and Rs 337.90 crore respectively.

Health Minister Mansukh Mandaviya Launches IMI 4.0 for Children, Pregnant Women Union Health Minister Dr Mansukh Mandaviya

launched Intensified Mission Indradhanush (IMI) 4.0 in New Delhi to protect children and pregnant women from severe diseases. India operates the largest immunization program globally, covering over 30 million pregnant women and 26 million children every year under the Universal Immunization Program (UIP).



STATES

48th Khajuraho Dance Festival commences in Madhya Pradesh The 48th edition of the world famous Khajuraho

Dance Festival began in Madhya Pradesh on February 20, 2021.

The week-long festival is organized annually since 1975, by the state Culture Department, MP Tourism and the Archaeological Survey of India.

The festival will culminate on February 26, 2022.

The Khajuraho Dance Festival is an internationally acclaimed cultural event, hosted at the magnificent city of Khajuraho located in the Chhatarpur district of Madhya Pradesh.

The festival highlights the richness of the Indian classical dance forms like Kathak, Odissi, Manipuri, Bharatnatyam, Kuchipudi, and Mohiniattam, to promote and encourage dance, artists, culture and heritage of India.

J&K becomes the first Union Territory to be integrated with National Single Window System Jammu & Kashmir has become the first Union

Territory to be integrated with the National Single Window System (NSWS).

National Single Window System (NSWS) was launched in September 2021 by the Ministry of Commerce & Industry. It is a digital platform that serves as a guide for investors to identify and to apply for approvals as per their business requirements.

NSWS will eliminate the need for investors to visit multiple platforms/offices to gather information and obtain clearances from different stakeholders.

As on date 14 States/UTs have been onboarded on NSWS These are- Andhra Pradesh, Goa, Gujarat, Himachal Pradesh, Jammu & Kashmir, Karnataka, Madhya Pradesh, Maharashtra, Odisha, Punjab,

Tamil Nadu, Telangana, Uttar Pradesh, and Uttarakhand.

West Bengal launches open-air classroom ‘Paray Shikshalaya’ The West Bengal government has started an open-

air classroom program, called Paray Shikshalaya (Neighborhood School), for students studying in primary and pre-primary classes.

Under this program, the students would be studying in an open area.

The initiative has been started by the Bengal government keeping in mind the ongoing COVID pandemic situation, which has forced the students to stay back home and attend online classes. However, it was found that students remain absent from their classes and do not take their studies seriously in online classes.

With this program, children will get accustomed to the physical classes. The government has selected clubs and parks to hold classes for standards 1 to 7.

Torgya Festival celebrated in Arunachal Pradesh In Arunachal Pradesh, the celebration of the

annual Torgya Festival started on January 30, 2022.

The three-day traditional festival is exclusively held in Tawang Monastery of Arunachal Pradesh by the Monpa community.

The objective of the festival is to welcome a healthy and prosperous new year and ward off any kind of external aggression and protect people from natural disasters.

Spituk Gustor Festival observed in Ladakh The annual Spituk Gustor Festival was observed in

Ladakh on January 30 and 31, 2022, to celebrate the culture and traditional heritage of the Union Territory.



The main significance of the festival is to celebrate peace and prosperity in the coming Ladakhi New year. The festival is observed on the 11th month of the Tibetan lunar calendar every year.

The term Gustor literally means ‘Sacrifice’ in the Tibetan language.

The two-day festival is celebrated by various monasteries of the UT such as Thiksey, Spituk, Korzok and Karsha.

The festival is marked by different kinds of rituals, ceremonies, music & Cham Dance.

Cham Dance is a colourful mask dance performed by the monks of the Spituk monastry, located in Leh district, in their best robes depicting different deities.

J&K signs pact with New Zealand for transforming sheep farming sector The Jammu and Kashmir government has signed a

pact with New Zealand for the transformation of the sheep farming sector in the Union territory of J&K.

The year 2022 marks the 70th anniversary of the commencement of bilateral relations between India and New Zealand.

Objective: improve farmers’ remuneration, transfer of technology in research and development, marketing and value addition of sheep products of Jammu and Kashmir.

CM Ashok Gehlot presented Rajasthan’s Budget 2022-23 with 1st separate Agriculture Budget Chief Minister (CM) of Rajasthan Ashok Gehlot

who also holds the finance portfolio of state presented the State Budget for 2022-23 (FY23) in his almost threehour-long speech in the Rajasthan Legislative Assembly located in its capital Jaipur. The main focus of the budget is on sectors like health, education, infrastructure, social security and tourism.

No new taxes were levied in the budget in view of the pandemic’s impact on all sectors of economic activities.

Rs 1,69,655.55crore are proposed under Schematic Outlay in Budget Estimates 2022-23.

The state budget saw an announcement of the Indira Gandhi Urban Employment Guarantee Scheme with the proposed allocation of Rs 800 crore. It is also proposed that employment under MGNREGA will be available for 125 days in the state, instead of 100 days.

Rajasthan has become the first State to go back to Old Pension Scheme (OPS) from National Pension Scheme (NPS) for its government employees appointed on or after January 1, 2004.

Indian Railway to set up India’s biggest world-class wrestling academy in Delhi Ministry of Railways has approved to set up India’s

biggest world Class wrestling academy at Indian Railways, Kishanganj, Delhi with an estimated cost of Rs 30.76 crores. The academy will be equipped with advanced training facilitiesIndian Railways promotes sports in India through the Railway Sports Promotion Board (RSPB).

CM Zoramthanga presented Mizoram’s budget for FY23 worth Rs 14,008.15 cr Pu Zoramthanga, the Chief Minister (CM) of

Mizoram who also holds the finance portfolio presented the state budget for 2022-23 with the total receipt from Revenue Receipt and Capital Receipt is estimated to be Rs 14,008.15 crore for BE 2022-23, which is Rs 2,859.26 crore higher than BE of 2021-22, i.e., 26.65%.Revenue Receipt for the year 2022-2023 is Rs 11,426.21 crore.

Assam Becomes First State to launch India’s First Night Navigation App for ferry services Chief Minister (CM) of Assam, Himanta Biswa

Sarma launched India’s first Night Navigation mobile application (app) for ferry services on the Brahmaputra river in Guwahati, Assam. It was developed by the State Transport Department in association with K Raju, the principal scientist of IIT(Indian Institute of Technology) Madras.



ECONOMY AND BANKINGCentral Govt approved continuation of Umbrella scheme of BIM from 2021-22 to 2025-26 Central Government approved the continuation of

the Central Sector Umbrella Scheme of ‘Border Infrastructure and Management (BIM)’ over the 15thFinance Commission Cycle from 2021-22 to 2025-26, at a cost of Rs 13,020 crore.

The Ministry of Home Affairs (MHA) is responsible for the improvement of BIM. This continuation will strengthen the border infrastructure for improving border management, policing and guarding the borders.

MoW&CD extends PM CARES for Children Scheme till February 28 2022 Ministry of Women and Child Development

(MoW&CD) extended the time period Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES) scheme for Children till 28 February 2022 (earlier, valid till 31 December 2021). It covers all children who have not completed 18 years of age at the time of death of their parents, surviving parent, legal guardian, adoptive parents or single adoptive parent due to COVID 19 pandemic. Starting from 11 March 2020 to 28 Feb 2022.

IIFL Home Finance signs $68-million loan agreement with ADB for affordable Green Housing IIFL Home Finance Limited (IIFL HFL), a 100%

subsidiary of IIFL Finance Limited, signed a loan agreement of USD 68 million (INR ~507 Crore) with the Asian Development Bank (ADB) to provide the financial support for affordable green housing for lower-incomewomen borrowers in India.

It mainly focuses on the efficient use of “energy, water, and building materials. These houses are designed to be environmentally more sustainable and climate resilient.

The headquarters of ADB is Mandaluyong, Manilla, Philippines.

Paytm Payments Bank Signs as Acquiring Partner for e-RUPI Service Paytm Payments Bank Limited (PPBL) announced

that it is an official acquiring partner for ‘e-RUPI vouchers’,which will be accessible at offline stores across India.The PPBL has also partnered with ‘One97 Communications Limited’ (OCL) owns Paytm for improving its strong merchant base.

Paytm’s merchants will be able to collect payments through e-RUPI by scanning the voucher, and entering the amount to be paid directly into their bank accounts.

The Headquarters of Paytm Payments Bank Limited (PPBL) is Noida, Uttar Pradesh (UP).

SEBI extends deadline for Client-Level Segregation & Monitoring of Funds Securities and Exchange Board of India (SEBI)

extended the deadline for the implementation of Client Level Segregation of Funds and Monitoring of Collateral at Stock Brokers to May 2, 2022 from February 28, 2022.The guidelines on client-level segregation were notified in 2021 by SEBI amid instances of misuse of client collateral by brokers.

NSO projects GDP growth for India in 2021-22 at 8.9% and in 2020-21 at 6.6% National Statistical Office (NSO) has released the

second advance estimates of national accounts. The



GDP growth rate projection as per NSO for 2021-22 (FY22) and 2020-21 (FY21) is given below:

For 2021-22 (FY22)= 8.9% (earlier it was 9.2% in first advance estimates)

For 2020-21 (FY21)= -6.6% (earlier it was -7.3%)

Union Bank launches ‘Union MSMERuPay Credit Card’ The Union Bank of India has launched ‘Union

MSME RuPay Credit Card’ in association with National Payments Corporation of India (NPCI).

It is a first of its kind initiative in the industry, to provide simplified and digital delivery of Finance to Micro, Small & Medium Enterprises (MSMEs), to meet their business-related operational expenses.

The dedicated card for MSMEs will be available to eligible borrowers of Union Bank of India.

The Union MSME RuPay Credit Card was launched by Union Minister for Micro, Small & Medium Enterprises, Shri Narayan Rane on February 25, 2022, at the two day MSME Conclave being held in Sindhudurg district of Maharashtra.

Moody’s projects India’s growth estimates to 9.5% in CY2022 Rating agency Moody’s has revised the economic

growth estimates of India for Calendar Year (CY) 2022 and CY2023, in its Global Macro Outlook 2022-23, as follows:

CY2022- 9.5 percent (Earlier it was 7 percent)

CY2023 – 5.5 percent

SEBI reconstitutes advisory committee on alternative investment policy; Chair-N R Narayana Murthy The Securities and Exchange Board of India (SEBI)

has reconstituted its alternative investment policy advisory committee.

The committee advises the capital markets regulator on a range of issues that impact further development of the AIF (Alternative Investment Fund) industry.

The reconstituted committee has 20 members. Infosys co-founder N R Narayana Murthy is the chair of this committee.

Earlier there were 22 members in the committee, which was constituted in March 2015 by Sebi.

Terms of Reference of the committee

to advise Sebi on any hurdles that might hinder the development of the alternative investment industry

development of the startup ecosystem in India

advising Sebi on any issues which need to be taken up with other regulators for development of the alternative investment industry.

Govt of India, Karnataka and Odisha signs loan agreement of $115 million with World Bank for implementation of REWARD Project The Government of India, the State Governments of

Karnataka and Odisha have signed a loan agreement with the World Bank of total worth of $115 million (INR 869 crore) for Rejuvenating Watersheds for Agricultural Resilience through Innovative Development (REWARD) Programme.

The bifurcation of the loan amount of $115 million is given below:

Government of Karnataka- $60 million (INR 453.5 crore)

Government of Odisha- $49 million (INR 370 crore)

Central Government- $6 million (INR 45.5 crore)

Terms of Loan: The loan has been provided by the International Bank for Reconstruction and Development (IBRD) arm of World Bank and has a maturity of 15 years, including a grace period of 4.5 years.

Objective of the loan: to help national and state institutions adopt improved watershed management



practices to help increase farmers’ resilience to climate change, promote higher productivity and better incomes.

SBI, BoB, PNB, UBI, Canara Bank and BoM acquires stake in IDRCL State Bank of India (SBI), Bank of Baroda (BoB),

Punjab National Bank (PNB), Union Bank of India (UBI), Canara Bank, and Bank of Maharashtra (BoM) have announced their subscription to the shares of India Debt Resolution Company Ltd (IDRCL).

The stakes acquired by these banks is given in the table below. The Banks will further reduce their stake in IDRCL that is also given in the tavle below:

Name of Bank Stake acquired

Reduces stake by March 31, 2022

State Bank of India 12.30% 5%

Bank of Baroda 12.30% 9.90%

Punjab National Bank 11.18% 5%

Union Bank of India 12.30% 10%

Canara Bank 14.90% 5%

Bank of Maharashtra 6.21% 4%

Public Sector Banks (PSBs) and Public FIs will hold a maximum of 49% in stake of IDRCL while the remaining stake will be with private sector lenders.

The NARCL has been incorporated under the Companies Act, and public sector banks will hold 51 percent in NARCL.

Objective of IDRCL: India Debt Resolution Company Ltd (IDRCL) and National Asset Reconstruction Company Ltd (NARCL) have been setup by banks and financial institutions to consolidate and take over the existing stressed debt in the banking/ financial system and then manage

and dispose the assets to Alternate Investment Funds

JPMorgan becomes the First Bank into the Metaverse JPMorgan (largest bank in the U.S.) announced that

it has become the first bank to enter in the metaverse. It has opened a lounge in Decentraland i.e. a virtual world based on blockchain technology.

The lounge has been named as Onyx lounge and has an image of CEO of JPMorgan, Jamie Dimon.

Equitas Small Finance Bank raises Rs 550 crore from Central Bank of Singapore, Government of Singapore, others Equitas Small Finance Bank has raised Rs 550

crore in total from the government of Singapore, Singapore’s central bank (Monetary Authority of Singapore) and a host of local mutual funds in the qualified institutional placement of equities.

The amount of investments from these entities is bifurcated below:

Government of Singapore-about Rs 155 crore

Monetary Authority of Singapore -Rs 36 crore.

Mutual funds (Nippon Life India Trustee, SBI Mutual Fund, ICICI Prudential, HDFC Mutual Fund and HDFC Trustee Company)- Rs 359 crore.

The NITI Aayog Fintech month commenced on February 7, 2022; Theme- “OPEN” NITI Aayog has started the Fintech Open Month

from February 07, 2022 in coordination with PhonePe. It is a first-of-its-kind initiative where fintech professionals can collaborate, exchange ideas, and innovate. It will continue till Feb 28, 2022.

The overarching theme of Fintech Month of NITI Aayog is ‘OPEN’. It aims to achieve three key objectives –

encourage an OPEN ecosystem across the FinTech industry;

Foster co-innovation and growth;



Ensure financial inclusion and leverage new models like Account Aggregator to unleash the next wave of fintech innovation.

It will bring together regulators, Fintech professionals and enthusiasts, industry leaders, the start-up community, and developers on a common platform to exchange ideas for fintech.

Yes Bank launches ‘Agri Infinity’ programme to develop digital financial solutions for the food and agriculture ecosystem Yes Bank has launched a programme named ‘Yes

Bank Agri Infinity’ through which the bank aims to co-develop digital financial solutions for the food and agriculture ecosystem by mentoring entrepreneurial ventures in this field.

Agri-fintech start-ups working on financial innovations across the food and agriculture value chain are eligible to apply under this programme and can work with Yes Bank for digital solutions.

SIDBI launches ‘waste to wealth creation’ programme in West Bengal Small Industries Development Bank of India

(SIDBI) has launched the ‘Waste to Wealth Creation’ programme for women in the Sundarbans in West Bengal.

In this, the women will make ornaments and showpieces from the fish scales. SIDBI will extend benefits to 50 women in directly generating revenues from alternate livelihoods.

Later, these women are expected to become a trainer for replicating and disseminating the knowledge among other aspirants.

This is a part of mission Swavalamban of SIDBI that aims to support artisans to become sustainable.

Sebi reconstitutes its 8-member advisory committee on Investor Protection and Education Fund; Head-G Mahalingam

The Securities and Exchange Board of India (Sebi) has restructured its advisory committee on Investor Protection and Education Fund (IPEF).

G Mahalingam, the former Whole Time Member of Sebi, is the new Chair of the eight-member committee.

Earlier the panel was headed by Abraham Koshy, former professor of IIM-Ahmedabad.

The objective of the advisory committee is to find out ways and means to best utilise the investor protection and education fund of Sebi.

Karnataka Bank wins digital transformation award, ‘DX 2021 Awards’ of CII Karnataka Bank has won the digital transformation

award, ‘DX 2021 Awards’ by the Confederation of Indian Industry (CII) for Best Practice in Digital Transformation.

Karnataka Bank has won this award in recognition of the “innovative” best practice ‘KBL VIKAAS’, which was launched by the bank in 2017.

Headquarters of Karnataka Bank- Mangaluru, Karnataka

ADB committed record US$4.6-bn loans to India in 2021 As per the data released by the Asian Development

Bank (ADB) on February 06, 2022, it provided a record USD 4.6 billion in sovereign lending to India in 2021.

This included USD 1.8 billion towards coronavirus disease (COVID-19) pandemic response.The USD 4.6 billion was committed by ADB for 17 loans.

The USD 1.8 billion COVID-19-related assistance included USD 1.5 billion for vaccine procurement and USD 300 million to strengthen primary health care in urban areas and the country’s future pandemic preparedness.

ADB is a multilateral funding agency with headquarter at Mandaluyong, Metro Manila, Philippines.

ADB President – Masatsugu Asakawa.



Adani Group Signed MoU with Ballard Power Systems for Commercialisation of Hydrogen Fuel Cells in India Adani Group, an Indian multinational

conglomerate, has signed a non-binding MoU with Nasdaq-listed Ballard Power Systems a global leader in fuel cell technology, to evaluate a joint investment case for the commercialization of hydrogen fuel cells in mobility and industrial applications in India. Adani Group partners with Ballard to create a shared fuel cell ecosystem in India.

Under this MoU, Adani Group and Ballard will examine the options to cooperate, including potential collaboration for fuel cell manufacturing in India.

JusPay launches‘Openppi’ Software for interoperablility of PPIs JusPay, a Softbank-backed digital payments

infrastructure provider announced a software stack named ‘OpenPPI’ that helps Prepaid Payment Instruments (PPIs) such as digital wallets implement and comply with Reserve Bank of India’s (RBI’s) PPI interoperability rules.Implementing PPI Interoperability will increase the adoption of Unified Payment Interface (UPI) and PPIs.

The OpenPPI solution will enable interoperability for PPIs through the UPI and can comply with the new rules using an endto-end secure cloud solution.

Tata Power & RWE Renewables Signs MoU for Offshore Wind Projects in India Tata Power Renewable Energy Limited, a 100%

subsidiary of Tata Power Company Limited (Tata Power) have signed a Memorandum of Understanding(MoU) with RWE Renewables GmbH (RWE), based in Germany, to explore the potential for joint development of offshore wind projects in India.

The MoU is in line with India’s vision of achieving 30 gigawatts (GW) of offshore wind installations by 2030 to meet the increasing power demands of India.

DBS Bank India signs a pact with Stellapps Digital Network to promote digitisation in Dairy Sector DBS Bank India

signed a partnership agreement with Stellapps Digital Network, a leading dairy-tech startup company, as its banking partner to promote digitisation of small dairy industries across India.This initiative aligns with DBS Bank commitment to supporting lives and livelihoods through better business and responsible financing.

Digitisation of the dairy value chain will improve productivity and quality of milk, transparency and traceability in the supply chain, thereby improving incomes and financial inclusion amongst dairy farmers.

Dabur India Ltd Becomes India’s 1st 100% Plastic Waste Neutral FMCG Company

Dabur India

Limited(Dabur), one of India’s leading Fast-moving consumer

goods (FMCG) companies, announced that the company has become India’s 1st 100% Plastic Waste Neutral company. Dabur is the first FMCG company to achieve this feat.

Dabur collects, processes and recycles the same amount of plastic waste that is sold in its product packaging in a year, as a result of this the company has become a ‘Plastic Waste Neutral company’



RBI UPDATES RBI directs NBFCs to implement ‘CFSS’ by September 30, 2025 The Reserve Bank of India has mandated NBFC –

Middle and Upper Layers with 10 or more ‘Fixed point service delivery units’ (as on October 1, 2022) to implement ‘Core Financial Services Solution (CFSS)’ latest by September 30, 2025

Core Financial Services Solution (CFSS) for NBFC is similar to what Core Banking Solution (CBS) is for banks.

NBFC-Upper Layers (UL) have to also ensure that the CFSS is implemented at least in 70 per cent of ‘Fixed point service delivery units’ on or before September 30, 2024.

For other NBFCs i.e NBFC – Base Layer and NBFC – Middle and Upper Layers with less than 10 ’Fixed point service delivery units, implementation of CFSS is not mandatory however they may consider the implementation of a Core Financial Services Solution for their own benefit.

RBI reopens Voluntary Retention Route (VRR) with investment limit of ₹2,50,000 crore The Reserve Bank of India had introduced the

Voluntary Retention Route (VRR) for investments by Foreign Portfolio Investors (FPIs) in debts in 2019 with an investment limit of ₹1,50,000 crore. Out of this, around ₹1,49,995 crore have been availed so far in three tranches.

Now RBI has increased this investment limit in VRR from Rs. 1,50,000 crore to Rs. 2,50,000 crore. The increased investment limits shall be open for allotment from April 01, 2022.

Minimum retention period: 3 years

The investment limit available for fresh allotment shall accordingly be ₹1,04,800 crore (net of extant allotments and adjustments).

RBI keeps Repo Rate unchanged at 4.0 per cent; GDP growth for 2022-23- 7.8 per cent. Reserve Bank of India conducted the 6th and the

last Monetary Policy Committee (MPC) meeting for 2021-22 from February 8 to10, 2022.

Reserve Bank of India has kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 4.0 percent. Various rates are as under: • Policy Repo Rate: 4.00% • Reverse Repo Rate: 3.35% • Marginal Standing Facility Rate: 4.25% • Bank Rate: 4.25% • CRR: 4.00% • SLR: 18.00%

The MPC decided to continue with the accommodative stance.

RBI has projected the real GDP growth for 2022-23 at 7.8 per cent.

RBI emerged as the second largest buyer of Gold among the world’s Central Banks in 2021 Reserve Bank of India (RBI) has emerged as the

second-largest buyer of Gold among the world’s Central Banks in 2021. RBI bought 77.5 metric tonnes in 2021 taking its total gold reserve to 754.1 tonnes at the end of December 2021.

Central Bank of Thailand (Bank of Thailand) was the highest buyer of Gold in 2021 and bought 90 metric tonnes of gold.

As per Goldhub, India’s official gold reserves is ninth-largest in the world. Goldhub is the official website of World Gold Council that maintains all the data regarding precious metal.



On February 1, 2022, the Budget session of parliament was held under the chairmanship of the Lok Sabha Speaker Om Birla. The Union Minister Nirmala Sitharaman, Ministry of Finance presented her 4th and 92nd Union Budget of India for 2022-2023 in approximately 91 minutes or 1 hour 31 minutes long speech in Parliament. Until 2018, as a part of tradition, finance ministers

carried the budget in a leather briefcase ‘Bahi Khata’ (a ledger wrapped in red cloth) and now it was replaced with a Made in India tablet (paperless budget) for the second consecutive year.

Highlights of Budget 2022-2023

India’s Fiscal Position India’s nominal GDP (Gross Domestic Product)

growth rate has been estimated as 11.1% in 2022-23 (i.e. real growth plus inflation).

India’s economic growth estimated at 9.2% for FY22 which is highest among all large economies.

Extra Budgetary Resources (EBR): After a number of years, the budget has not relied on EBR or loans from National Small Savings Fund.

Total Expenditure: The government is estimated to spend Rs 39,44,909 crore during 2022-23.This is an increase of 4.6% over the revised estimate of 2021-22.

Out of the total expenditure, revenue expenditure is estimated to be Rs 31,94,663 crore (0.9% increase) and capital expenditure is estimated to be Rs 7,50,246 crore (24.5% increase).

Loans and advances by the central government are estimated to be Rs 1,40,057 crore in 2022-23, an increase of 153% over the revised estimates for 2021-22.

Total Receipts: Government receipts (excluding borrowings) are estimated to be Rs 22,83,713 crore, an increase of 4.8% over the revised estimates of 2021-22.

The gap between these receipts and the expenditure will be plugged by borrowings, budgeted to be Rs 16,61,196 crore, an increase of 4.4% over the revised estimate of 2021-22.

Transfer to states: The central government will transfer Rs 16,11,781 crore to states and union territories in 2022-23. This is a marginal increase of 0.5% over the revised estimates of 2021-22. Transfer to states comprises:

(i)devolution of Rs 8,16,649 crore out of the divisible pool of central taxes, and

(ii) Rs 7,95,132 crore in the form of grants and loans.

In 2021-22, as per the revised estimates, Rs 1,59,000 crore will be transferred to states in the form of back-to-back loans in lieu of GST compensation.

Deficits: Revenue deficit is targeted at 3.8% of GDP, and fiscal deficit is targeted at 6.4% of GDP in 2022-23. The target for primary deficit (which is fiscal deficit excluding interest payments) in 2021-22 is 2.8% of GDP.

The Central Government’s Outstanding Liabilities are estimated to decrease marginally to 60% of GDP in 2022-23. From 2012-13 onwards, these were declined from 51% of GDP to 48% of GDP in 2018-19. It increased to 61% of GDP in 2020-21.

The interest payments as a percentage of revenue receipts have increased from 36% in 2011-12 to 42% in 2020-21. As per the budget estimates, this figure is expected to increase further to 43% in 2022-23.

Expenditure on Subsidies:In 2022-23, the total expenditure on subsidies is estimated to be Rs 3,55,639 crore, a decrease of 27.1% from the revised estimate of 2021-22.



Budget estimates of 2022-23 as compared to revised estimates of 2021-22

Budgetary allocations to ministries



13 ministries with the highest allocations estimated 53% of the estimated total expenditure 2022-23. Ministry of Defence has the highest allocation in 2022-23, at Rs 5,25,166 crore. It accounts for 13.3% of the total budgeted expenditure, followed by Consumer Affairs, Food and Public Distribution, Road Transport and Highways, and Home Affairs.

Budgetary allocations to schemes

MGNREGS (Mahatma Gandhi National Rural Employment Guarantee Scheme) has the highest allocation in

2022-23 but it was decreased upto 25.50% in allocation from the revised estimates of 2021-22.

MGNREGS is followed by PM – KISAN and Jal Jeevan Mission (JJM)/National Rural Drinking Water Programme (NRDWP) in 2022-23 allocations.

* The Modified Interest Subvention Scheme replaced the scheme for interest subsidy for short term credit to farmers.* The PM-POSHAN scheme replaced the Mid-Day Meal Scheme.



Allocations for women, children, SCs, STs and NER (Rs crore)

The budget is divided in two parts:1.PART A and

PART B

PART A Amrit Kaal, the 25-year-long lead up to India @100

Prime Minister of India Narendra Modi unveiled a

new roadmap for India for the next 25 years -from India at 75 to India at 100 (India @100), and termed it as 'Amrit Kaal’.FY23 budget has prioritized the following four sectors along with the overall growth:

1. PM GatiShakti 2. Inclusive Development 3. Financing of investments 4. Productivity Enhancement & Investment, Sunrise opportunities, Energy Transition, and Climate Action.

1. PM GatiShakti PM Gati Shakti has received it’s first-ever outlay of Rs 20,000 crore in FY23 for integrated planning and coordinated implementation of infrastructure connectivity projects.

PM Gati Shakti was launched in October 2021 with a Rs 100 lakh crore project.



It is premised upon 7 parameters Roads, Railways, Airports, Ports, Mass Transport, Waterways and Logistics Infrastructure.

The projects pertaining to these 7 engines in the National Infrastructure Pipeline (NIP) will be aligned with PM GatiShakti framework.

100 PM GatiShakti Cargo terminals for multimodal logistics to be developed during the next three years.

Road Transport

PM GatiShakti Master Plan for Expressways will be formulated in 2022-23 to facilitate faster movement of people and goods.

National Highways (NHs) will be expanded by 25000 Km in 2022-23.

Multi-Modal Logistics Parks (MMLPs)

Contracts for the implementation of MMLPs will be awarded through PPP (Public Private Partnership) mode in 2022-23 at four locations. It will benefit North East, Uttarakhand, Himachal Pradesh and Kashmir.

Railways

The concept of ‘One Station One Product’ concept will help local businesses & supply chains.

2000 Km of railway network to be brought under Kavach with the indigenous world class technology and capacity augmentation in 2022-23.

400 new generation Vande Bharat Trains to be manufactured during the next three years.

Parvatmala

National Ropeways Development Program, Parvatmala will be taken up on PPP mode(public-private partnership ) for ecologically sustainable alternative to conventional roads in difficult hilly areas.Contracts to be awarded in 2022-23 for 8 ropeway projects of 60 Km length.

2. Inclusive Development Agriculture Rs. 2.37 lakh crore will be allocated to farmers for procurement of wheat and paddy.2023 has been announced as the International Year of Millets.

Chemical free Natural farming to be promoted and initially focus on farmer’s lands in 5 Km wide corridors along river Ganga.

NABARD (National Bank For Agriculture And Rural Development) to facilitate funds with blended capital to finance startups for agriculture & rural enterprise.

Blended finance mixes public capital with market-based funds to mobilise additional commercial funding toward sustainable development.

Kisan Drones’ for crop assessment, digitization of land records, spraying of insecticides and nutrients.

India's first river interlinking project -Ken Betwa Ken-Betwa River Interlinking (KBRIL) Project ,

India’s first river interlinking project, connecting Ken river in Madhya Pradesh with Betwa in Uttar Pradesh under Department of Water Resources, River Development & Ganga Rejuvenation, Ministry of Jal Shakti has been approved in the budget with the cost of Rs.44,605 crore.It will be implemented for the irrigation facility of Bundelkhand region

Rs.1,400 crore in 2022-23 will be allocated and 9.08 lakh hectares of farmers’ lands to receive irrigation benefits under this project.It will be completed in 8 years.



The Ken-Betwa Link Canal will be 221 km long,

including a 2-km long tunnel.It foresees the transferring water from the Ken River to the Betwa river, both tributaries of the Yamuna.

The project is slated to irrigate 10.62 lakh hectares annually, provide drinking water supply to 62 lakh people and generate 103 MW of hydropower and 27 MW of solar power.

The project spreads across the districts of two states — Jhansi, Banda, Lalitpur and Mahoba districts of Uttar Pradesh and Tikamgarh, Panna and Chhatarpur districts of Madhya Pradesh.

Draft Detailed Reports (DPRs) of five river links have been finalized, namely

Damanganga-Pinjal - Damanganga river near village Bhugad in Peinttaluka of Nasik district of Maharashtra State and very near to border of Valsad district of Gujarat.

Par-Tapi Narmada - The project of Par-Tapi-Narmada link generally falls in the state of Gujarat

except Jheri reservoir which falls in Maharashtra state.

Godavari-Krishna – These rivers are originated in Maharashtra.

Krishna-Pennar – Krishna is located in Maharashtra whereas Pennar is located in Karnataka and also shared the location of Nellore, Utukuru, Andhra Pradesh

Pennar-Cauvery - These rivers are originated in Karnataka.

The Ken-Betwa Link Project has two phases.

Under Phase-I, one of the components — ‘Daudhan dam’ on the Ken river in Madhya Pradesh’s Chhatarpur district, inside the Panna Tiger Reserve and its appurtenances like Low Level Tunnel, High Level Tunnel, Ken-Betwa link canal and Power houses will be completed.

A-77 metre high dam, namely Daudhan is proposed across river Ken, about 2.5 km upstream of existing Gangau Weir on Ken river.

Under Phase-II, three components — Lower Orr dam, Bina complex project and Kotha barrage will be constructed

MSME (Micro, Small & Medium Enterprises)

Udyam, e-shram, NCS (National Career Service) and ASEEM (Aatmanirbhar Skilled Employee Employer Mapping) portals to be interlinked.



New online system of MSME/Udyam Registration is operating under Union MSME Ministry.

e-shram,and NCS (National Career Service) are operating under Ministry of Labour and Employment.

ASEEM portal is operating under Ministry of Skill Development and Entrepreneurship (MSDE).

130 lakh MSMEs provided additional credit under Emergency Credit Linked Guarantee Scheme (ECLGS).

ECLGS to be extended up to March 2023. Guarantee cover under ECLGS to be expanded by Rs 50000 Crore to total cover of Rs 5 Lakh Crore.

Rs 2 lakh Crore additional credit for Micro and Small Enterprises to be facilitated under the Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE).

Raising and Accelerating MSME performance (RAMP) programme with outlay of Rs 6000 Crore to be rolled out.

Skill Development

Digital Ecosystem for Skilling and Livelihood (DESH-Stack e-portal) will be launched to empower citizens to skill, reskill or upskill through on-line training.

Startups will be promoted to facilitate ‘Drone Shakti’ and for Drone-As-AService (DrAAS).

In vocational courses, 750 virtual labs in science and mathematics, and 75 skilling e-labs for simulated learning environment, will be set-up in 2022-23.

Focus on skilling and employability - National Skill Qualification Framework (NSQF) to align with dynamic industry needs

Education

One class-One TV channel’ programme of PM eVIDYA to be expanded to 200 TV channels from 12 to provide supplementary education in regional languages for classes 1-12.

Digital University for world-class quality universal education with personalised learning experience to be established.

The education budget 2022 has been allotted Rs 1,04,278 crore with a increase of 11.86% i.e Rs 11,054 crore from the previous year.

Category Budgeted 2022-2023 (Rs/cr)

Department of School Education and Literacy

63,449.37

Department of Higher Education

40,810.34

Samagra Shiksha Abhiyan 37,383.36 PM Poshan 10,233.75

Strengthening Teaching-Learning and Results for States (STARS

550

*STARS,a new project that includes a World Bank (WB) loan aims to enhance the capability of six states -- Himachal Pradesh, Kerala, Rajasthan, Madhya Pradesh, Maharashtra and Odisha.The National Education Policy, 2020 (NEP) requires that India need to meet 6% of GDP in education.

Health

An open platform, for the National Digital Health Ecosystem will be rolled out under Ayushman Bharat Digital Mission.



National Tele Mental Health programme will be included with a network of 23 tele mental health centres of excellence.

NIMHANS (National Institute of Mental Health and Neurosciences) will be the nodal centre, and IIIT (International Institute of Information Technology) Bengaluru (Karnataka) will provide technological support for this mental health programme.

Women and Children Empowerment

Nari Shakti the harbinger of women-led development during the ‘Amrit Kaal’.

Mission Shakti, Mission Vatsalya, Saksham Anganwadi and Poshan 2.0 were launched recently to provide integrated benefits to women and children.

Saksham Anganwadis(Rural Child Care) are a new generation anganwadis with better infrastructure. Two lakh anganwadis will be upgraded under the Scheme.

Category Budgeted 2022-2023 (Rs/cr)

Saksham Anganwadi and Poshan 2.0

20,263.00

Mission Vatsalya 1472.00

Mission Shakti 3184.00 Har Ghar, Nal Se Jal

Rs. 60,000 crore will be allocated to cover 3.8 crore households in 2022-23 to provide running tap water for every household.

Housing for All

Rs. 48,000 crore to be allocated for completion of 80 lakh houses in 2022-23 under PM Awas Yojana

PM-DevINE

Prime Minister’s Development Initiative for North-East Region (PM-DevINE) , a new scheme will be launched to fund infrastructure and social development projects in the North-East Regions with an initial allocation of Rs. 1,500 crore

Aspirational Blocks Programme

This program is to improve the quality of life of citizens in the most backward districts of the country through Aspirational Districts Programme.

Vibrant Villages Programme

Vibrant Villages Programme for development of Border villages with sparse population, limited connectivity and infrastructure on the northern border.

The programme is meant to improve infrastructure in villages along India's border with China, in states like Himachal Pradesh, Uttarakhand, and Arunachal Pradesh.

Digital Banking & Payment

100% of 1.5 lakh post offices to come on the core banking system.

To mark 75 years of our independence, it is proposed to set up 75 Digital Banking Units (DBUs) in 75 districts of the country by Scheduled Commercial Banks.

The financial support for digital payment ecosystem announced in the previous Budget will continue in 2022-23.

3. Financing of Investments Public Capital Investment

The Union Budget envisaged boosting public investment by raising capital expenditure by 35.4% to Rs 7.5 lakh crore, or 2.9% of the GDP in FY23. It is Rs. 5.54 lakh crore in the current year.

This budgeted capital expenditure is 2.2 times the expenditure of 2019-20.

With this investment along with the provision for creation of capital assets through grants-in-aid to states, the Central Government’s effective capital expenditure is estimated at Rs 10.68 lakh crore in 2022-23, which will be about 4.1% of GDP.

Green Bonds

As a part of the government’s overall market borrowings in 2022-23, sovereign Green Bonds will be issued for mobilizing resources for green infrastructure in reducing the carbon intensity of the economy.

It should be noted that India was at 17th position among green bond issuing nations in 2021 with the United States (US), Germany, China, France and the United Kingdom (UK) at the top five slots. In 2021, India issued green bonds worth $16.5 billion.



GIFT-IFSC (International Financial Services Centre)

An International Arbitration Centre will be set up in Gandhinagar, Gujarat for timely settlement of disputes under international jurisprudence.

It will be set up on the lines of the Singapore International Arbitration Centre or London Commercial Arbitration Centre.

World-class foreign universities and institutions will be allowed in the GIFT (Gujarat International Finance Tec) City.

Mobilizing Resources

Energy Storage Systems and Data Centres are awarded the infrastructure status.As Venture Capital and Private Equity invested more than Rs.5.5 lakh crore in 2021 which facilitated the largest start-up and growth ecosystem. Now, it is proposed to scale up this investment.

The Government will set up an expert committee to address regulatory issues faced by the venture capital and private equity players.

Introduction of Digital Rupee

The FY23 will see the introduction of Digital Rupee or Central Bank Digital Currency (CBDC)

by the Reserve Bank of India (RBI) to boost digital economy using blockchain and other technologies.

The Reserve Bank of India Act, 1934 is being amended to enable RBI to issue its digital currency.

Benefits of CBDC

Cannot be torn or physically damaged or lost.

Lifeline is indefinite as compared to notes.

Save the government the cost of printing.

There will be more access in remote areas. Providing Greater Fiscal Space to States

The outlay for the ‘Scheme for Financial Assistance to States for Capital Investment’ is enhanced from Rs. 10,000 crores in BE 2021-22 to Rs. 15,000 crores in RE 2021-22.

There will be allocation of Rs 1 lakh crore to assist the states in catalyzing overall investments in the economy for FY23.

It is a 50-year interest free loan, over and above normal borrowings.

In FY23, states will be allowed a fiscal deficit of 4% of GSDP (gross state domestic product), of which 0.5% will be tied to power sector reforms.

4.Productivity Enhancement & Investment, Sunrise opportunities, Energy Transition, and Climate Action. Productivity Enhancement & Investment AtmaNirbharta in Defence

To reducing imports and promoting AtmaNirbharta in equipment for the Armed Forces,68% of the capital procurement budget earmarked for domestic industry in 2022-23, up from 58% in 2021-22.

Defence R&D (Research & Development) to be opened up for industry, startups and academia with 25% of defence R&D budget earmarked. Independent nodal umbrella body to be set up for meeting testing and certification requirements.

Ease of Doing Business 2.0 & Ease of Living

25,000 compliances were reduced and 1486 Union laws were repealed towards strong commitment for ‘minimum government & maximum governance’, our trustin the public, and ease of doing business (EODB).



For the AmritKaal, the next phase of Ease of Doing

Business EODB 2.0 and Ease of Living, will be launched.

As part of the EoDB, a scheme for design-led manufacturing to be launched to build a strong ecosystem for 5G as part of the Production Linked Incentive Scheme.

Green Clearances

PARIVESH,a single window portal for all green clearances was launched in 2018, will now be expanded, to provide information to the applicants.

It will enable application for all four approvals through a single form, and tracking of the process through Centralized Processing Centre-Green (CPC-Green).

e-Passport

e-Passports with embedded chip and futuristic technology to be rolled out.

What is an E-passport / Biometric Passport?

E-passport, electronic passport or biometric passport is the international travel document with

identity details such as passport number, name, surname, nationality, and date of birth, as well as an electronic microprocessor chip containing data such as fingerprints, photos, and signatures. It will prevent fraudsters from conducting data piracy and making duplicate passports.

Urban Development & Planning

A high-level committee of reputed urban planners, urban economists and institutions will be formed to make recommendations on urban sector policies.

Modernization of building byelaws, Town Planning Schemes (TPS), and Transit Oriented Development (TOD) will be implemented for people to live and work closer to mass transit systems.

Battery swapping policy to be brought out for setting up charging stations at scale in urban areas to improve efficiency in the EV eco-system.

Land Records Management

Unique Land Parcel Identification Number for IT-based management of land records.

The adoption or linkage with National Generic Document Registration System (NGDRS) with the ‘One-Nation One-Registration Software’ will be promoted.

Insolvency and Bankruptcy Code

Necessary amendments in the Code will be carried out to enhance the efficacy of the resolution process and facilitate cross border insolvency resolution.

Accelerated Corporate Exit

Centre for Processing Accelerated Corporate Exit (C-PACE) to be established for speedy winding-up of companies.

AVGC Promotion Task Force

An animation, visual effects, gaming, and comic (AVGC) promotion task force to be setup to realize the potential of this sector.

Telecom Sector

Scheme for design-led manufacturing to be launched to build a strong ecosystem for 5G as part of the Production Linked Incentive (PLI) Scheme.

The contracts for laying optical fibre in all villages, including remote areas, will be awarded under the



Bharatnet project through PPP in 2022-23. Completion is expected in 2025.

The government plans to spend Rs 29,432 crore to implement the project.

Proposed to allocate five per cent of annual collections under the Universal Service Obligation Fund (USOF) to enable affordable broadband and mobile service proliferation in rural and remote areas.

The auctions for the 5G spectrum will be rolled out in 2022.

Export Promotion

Special Economic Zones Act to be replaced with a new legislation to enable States to become partners in ‘Development of Enterprise and Service Hubs’.

Electric Vehicles

In a push for electric vehicle (EV) adoption, the Union Budget introduced a battery swapping policy along with inter-operability standards to improve efficiency in the EV ecosystem.

This will allow drivers to replace depleted battery blocks for freshly charged ones at swap stations.

It also incentivises the private sector to develop sustainable and innovative business models for ‘Battery or Energy as a Service’.

Sunrise Opportunities

The Research & development (R&D) in Sunrise Opportunities will attract Government contribution. These opportunities include Artificial Intelligence (AI), Geospatial Systems and Drones, Semiconductor and its ecosystem, Space Economy, Genomics and Pharmaceuticals, Green Energy, and Clean Mobility Systems.

In this regard, it is proposed to set up thematic funds for blended finance in the ‘sunrise’ sectors of deeptech, agritech and climate action.

Energy Transition and Climate Action

The low carbon development strategy as enunciated in the ‘panchamrit’ towards sustainable development. To open up huge employment opportunities and will take the country on a sustainable development path.

There will be additional allocation of Rs. 19,500 crore for PLI for manufacturing of high efficiency solar modules/Solar Photovoltaics (PV) to meet the goal of 280 GW of installed solar power by 2030.

5-7% biomass pellets to be co-fired in thermal power plants which result in CO2 savings of 38 MMT (Metric Million Tonnes) annually, extra income to farmers, and job opportunities to locals. It will also aid in avoiding stubble burning in agriculture fields.

Four pilot projects to be set up for coal gasification, and conversion of coal into chemicals for the industry.

Financial support will be provided to the farmers of Scheduled Castes (SC) and Scheduled Tribes (ST), who want to take up agro-forestry.

Circular Economy transition is expected to help in productivity enhancement as well as creating large opportunities for new businesses and jobs.

For encouraging important sunrise sectors such as Climate Action, Deep-Tech, Digital Economy, Pharma and Agri-Tech, the government will promote thematicfunds for blended finance with the government share being limited to 20per cent and the funds being managed by private fund managers.



PART B Union finance minister has announced the Part B of

budget by referring the Mahabharat, Shanti ParvaAdhyaya. 72. Shlok 11 which says“The king must make arrangements for Yogakshema (welfare) of the populace by way of abandoning any laxity and by governing the state in line with Dharma, along with collecting taxes which are in consonance with the Dharma.”

1. Direct Taxes For direct taxes, the Union Budget proposes to

further simplify the tax system, establish a trustworthy tax regime, and to reduce litigation.

Corporation tax: The collections from taxes on companies are expected to increase by 13% in 2022-23 to Rs 7,20,000 crore.

Income tax: The collections from income tax are expected to increase by 14% in 2022-23 to Rs 7,00,000 crore. According to the revised estimate for 2021-22, income tax collection will be of Rs 6,15,000 which is 9.6% higher than Rs 5,61,000 at the budget estimate stage. There is no change in income tax rates for individuals and corporations for the year 2022-23.

Non-tax receipts

Non-tax revenue consists of interest receipts on loans given by the centre, dividends and profits, externalgrants, and receipts from general, economic, and social services, among others. In 2022-23, non-tax revenue is expected to decrease by 14% over the revised estimates of 2021-22 to Rs 2,69,651 crore. This is due to a decline of 14% in interest receipts and a decline of 23% in dividend and profits.

Disinvestment target

The disinvestment target for 2022-23 is Rs 65,000 crore. This is 17% lower than the revised estimate of 2021-22 (Rs 78,000 crore).

Surcharge on Long Term Capital Gains (LTCG)

Currently, the surcharge on LTCG on listed equities and equity mutual funds is capped at 15%. The surcharge on other LTCG is 25% if total income is between Rs 2 crore and Rs 5 crore, and 37% if it is above Rs 5 crore. The budget proposes to cap these at 15%.

Income tax surcharge is an additional charge payable on income tax. It is an added tax on the taxpayers having a higher income inflow during a particular financial year.

Introduction of new ‘Updated return’

An updated return can be filed within two years from the end of the relevant assessment year in case Income Tax (IT) filers forgot to include any income.

They will have to pay 25% penalty on tax and interest due if it is filed in the year after the assessment year, and 50% penalty in the second year.

In this regard, a new sub-section (8A) in Section 139 is proposed to be introduced under the IT Act 1961.

Cooperative societies

Alternate Minimum Tax paid by cooperatives brought down from 18.5 per cent to 15 per cent.

It has also proposed to reduce co-operative surcharge from 12% to 7% for those having total income of more than Rs 1 crore and up to Rs 10 crores.



Parity in National Pension Scheme Contribution

In order to bring State Government employees at par with central government employees, the tax deduction limit increased from 10% to 14% on employer’s contribution to the NPS account of state government employees.

It will help in enhancing social security benefits of state government employees.

Tax relief to persons with disability

A new tax relief for the parent/guardian of a disabled person is proposed under which the parent/guardian of a disabled person who buys a savings life insurance policy with the latter as beneficiary then he/she will be eligible to deduct from gross income before tax subject to certain conditions.

This benefit/ deduction is proposed to be added under Section 80DD of the IT Act, 1961.

Also, the payment of annuity and lump sum amount from insurance scheme to be allowed to such dependents during the lifetime of parents/guardians, i.e., on parents/ guardians attaining the age of 60 years.

Incentives for Start-ups & newly incorporated manufacturing entities

The tax incentives for the eligible start-ups are proposed to be extended by one more year i.e. March 31, 2023 from March 31, 2022.

• Eligible startups established before 31.3.2022 had been provided a tax incentive for three consecutive years out of ten years from incorporation. Now, this extension is in view of COVID-19 pandemic.

Last date for commencement of manufacturing or production by new domestic manufacturing companies under section 115BAB of IT ACT 1961 is extended by one year i.e. from 31st March, 2023 to March 31, 2024.

Section 115BAB provides an option of concessional rate of taxation at the rate of 15%for new domestic manufacturing companies, provided that they do not avail themselves of any specified incentives.

The Act provides that the new domestic manufacturing company is required to be set up and registered on or after October 1, 2019.

Scheme for taxation of virtual digital assets

RBI-issued 'Digital Rupee' will be recognised as currency and the government will levy 30 % tax on profits made from any other private virtual digital assets like cryptocurrency from April 1,2022.

The Budget 2022-23 also proposed a 1 per cent TDS on payments towards virtual currencies beyond Rs 10,000 in a year,

No deduction in respect of any expenditure or allowance to be allowed while computing such income except cost of acquisition.

Loss from transfer of virtual digital assets cannot be set off against any other income.

Gift of virtual digital assets also to be taxed in the hands of the recipient.

Litigation Management

As per the budget, in cases where question of law in case of an assessee is identical to the one pending in High Court or Supreme Court, the filing of appeal by the department shall be deferred till such question of law is decided by the court.

This will help in reducing repeated litigation between taxpayers and the department.

Tax incentives to IFSC

Subject to specified conditions, the following to be exempt from tax to promote business activities in International Financial Services Centre (IFSC),Gujarat:

Income of a non-resident from offshore derivative instruments.

Income from over-the-counter derivatives issued by an offshore banking unit.

Income from royalty and interest on account of lease of ship.

Income received from portfolio management services in IFSC.

Surcharge on AOPs

The Surcharge on AOPs (Association of Persons, a consortium formed to execute a contract) capped at



15%. It is done to reduce the disparity in surcharge between individual companies and AOPs.

Health and Education Cess

Any surcharge or cess on income and profits is not allowable as business expenditure.

Deterrence against tax-evasion

A new provision of Deterrence against tax-evasion is introduced in Union Budget FY23 to curb black money. As per it, there will be no set off, of any loss to be allowed against undisclosed income detected during search and survey operations.

Rationalizing TDS Provisions

It is proposed that benefits passed on to agents as a business promotion strategy are taxable in the hands of agents.

Tax deduction provided to the person giving benefits, if the aggregate value of such benefits exceeds Rs 20,000 during the financial year.

Changes in customs duty

Customs duties on over 500 items have been changed. Many customs exemptions are also being phased out.

2. Indirect Taxes The total indirect tax collections are estimated to be

Rs 13,30,000 crore in 2022-23. Of this, the government has estimated to raise Rs 7,80,000 crore from GST. Out of the total tax collections under GST, 85% is expected to come from central GST (Rs 6,60,000 crore), and 15% (Rs 1,20,000 crore) from the GST compensation cess.

The collections from income tax are expected to increase by 14% in 2022-23 to Rs 7,00,000 crore. According to the revised estimate for 2021-22, income tax collection will be of Rs 6,15,000 which is 9.6% higher than Rs 5,61,000 at the budget estimate stage.Following are the proposals under this category

Remarkable progress in GST

GST revenues are buoyant despite the pandemic – Taxpayers deserve applause for this growth.

Special Economic Zones (SEZs) Act to be replaced with new Legislation by Sept 30, 2022

The Central Government will undertake reforms in Customs Administration of SEZs by replacing the 16 years old SEZ ACT, 2005 with new legislation in order to make it compatible with the World Trade Organization (WTO). After reform, it will be fully IT (Information technology) driven, and function on the Customs National Portal. This reform will be implemented by September 30, 2022.

As on January 27, the government has given formal approvals to 425 SEZ developers. Out of this, 268 were operational till December 31, 2021.

During April-December this fiscal, exports from these zones rose by 25 per cent to Rs 6.89 lakh crore (USD 92.83 billion). It was USD 102.32 billion in 2020-21.

Customs reforms and Duty Rate Changes Proposals Project imports and capital goods

It is proposed to phase out the concessional rates in capital goods and project imports gradually and apply a moderate tariff of 7.5%. National Capital Goods Policy, 2016 aims at doubling the production of capital goods by 2025. This would create



employment opportunities and result in increased economic activity.

Unblended fuel: To encourage the efforts for blending of fuel, unblended fuel shall attract an additional differential excise duty of Rs2/ litre from October 1, 2022.

Umbrellas: Duty on umbrellas is being raised to 20 per cent. Exemption to parts of umbrellas being withdrawn.

Jewellery Export: To facilitate export of jewellery through e-commerce, a simplified regulatory framework will be implemented by June 2022.

Gems and Jewellery: Customs duty on cut and polished diamonds and gemstones is being reduced to 5%.To disincentivize import of undervalued imitation jewellery, the customs duty on imitation jewellery is being prescribed in a manner that a duty of at least 400 per Kg is paid on its import.

Chemicals: Customs duty on certain critical chemicals namely methanol, acetic acid and heavy feed stocks for petroleum refining are being reduced, while duty is being raised on sodium cyanide for which adequate domestic capacity exists.

Electronic: Duty concessions will be given to parts of the transformer of mobile phone chargers and camera lens of mobile camera module and certain other items to enable domestic manufacturing of high growth electronic items.Customs duty rates to be calibrated to facilitate domestic manufacturing of wearable devices, hearable devices and electronic smart meters.

Customs duty exemption given to steel scrap in 2021 extended for another year to provide relief to MSME secondary steel producers

Certain Anti- dumping and CVD on stainless steel and coated steel flat products, bars of alloy steel and high-speed steel are being revoked to tackle prevailing high prices of metal in larger public interest.

Duty being reduced on certain inputs required for shrimp aquaculture to promote its exports.

Review of Customs Exemptions and Tariff Simplification The Government proposes to phase out more than

350 exemption entries. These include exemption on certain agricultural produce, chemicals, fabrics, medical devices, drugs among others. removal of exemption on items which are or can be manufactured in India and providing concessional duties on raw material that go into manufacturing of intermediate products will help in achieving the objective of ‘Make in India’ and ‘Atmanirbhar Bharat’.

Other Highlights of Budget

Rs 34 crore allocated for Anti-corruption ombudsman Lokpal 2022-23 to meet its establishment and construction-related expenditures.

The Central Vigilance Commission (CVC) has been allocated Rs 41.96 crore for 2022-23.The government has lowered its estimates of revenue from the telecom segment to Rs 52,806 crore for the next financial year 2022-23.

The receipt from communication services includes licence fees from telecom operators and receipts on account of spectrum usage charges which are charged at the rate of 8 per cent of their adjusted gross revenue.Government will set up an expert committee to address regulatory issues faced by the venture capital and private equity players.

The Indian Council of Cultural Relations (ICCR) will be allocated with Rs. 320 cr, an increase of Rs 20 cr.₹5,000 crore has been allocated for COVID-19 vaccines in the Union Budget 2022-23.The total assistance to other Autonomous bodies are at Rs. 354.90 cr.

An amount of Rs. 3100.01 cr has also been earmarked for the Special Diplomatic Expenditure.

Development Assistance to Other Countries

The Ministry of External Affairs (MEA) will receive an allocation of Rs 17,250 crore out of which Rs 6292.30 crore will be utilized towards the development assistance to the following countries:



Bhutan receives the maximum development assistance of Rs 2,266 crore.

Afghanistan will receive Rs.200 crore as development assistance. Apart from this, the Central Government disbursed Rs.100 crore for the Chabahar port project, India’s key connectivity project.

Other foreign countries to receive this assistance include Nepal (Rs.750cr), Myanmar (600cr), Sri Lanka (Rs 200cr), Maldives (Rs 360cr), Bangladesh (Rs 300cr), Mongolia (Rs 12cr), Mauritius (Rs 900cr), African Countries (Rs 250cr), Eurasian Countries (Rs.140 cr), Latin American (Rs 40cr), and other developing countries (Rs 150cr).

An allocation of ₹400 crores has been made for the United Nations.

An amount of Rs. 518.86 crore has been allocated for the International Cooperation.

History of the Union Budget

Under the Article 112 of the Constitution of India, Union Budget is aka Annual financial statement. Every year it is presented on the last working day of February by the Finance Minister of India in Parliament.But in 2017 Arun Jaitley (FM IN 2014) started presenting the Union Budget on February 1 departing from the colonial-era tradition of using the last working day of that month. The budget is presented by means of the Financial bill and Appropriation bill which has to be passed by the houses.

The Union Budget comes into effect from April 1.The budget division of the department of economic affairs in the finance ministry is the nodal body responsible for producing the budget.

The Budget was first introduced in India on April 7, 1860, when Scottish economist and politician James Wilson from the East India Company presented it to the British Crown.

First Union budget of Independent India was presented by R. K. Shanmukham Chetty on November 26, 1947.In 1951-52, C D Deshmukh was the first Indian governor of the RBI who presented the Interim Budget.

In 1958-59, Pandit Jawaharlal Nehru was the first PM who presented the Union Budget.

In 1959, Morarji Desai, who became the finance minister of India, presented the maximum number of budgets so far i.e. 10. He presented two budgets on his birthday - 1964 and 1968 as he was born on February 29.

From 1970 to 1971, Indira Gandhi was the only woman Finance Minister who took over the Finance portfolio.

Union Budget 1973-74 is known as the “Black Budget” of India as the budget deficit rose to Rs 550 crore.

In 1997-98, P Chidambaram presented a Budget that was termed as “Dream Budget”.Dream Budget is presented a road map for economic reforms in India and included lowering income tax rates, removal of the surcharge on corporate taxes, and reduced corporate tax rates.

In 1994, Manmohan Singh started the service tax.

Till 2016, the budget was presented on the last working day of February.

In 2017, the Rail Budget was merged with the Union Budget.

In 2020, Nirmala Sitharaman delivered the longest Budget speech by Finance Minister of India that lasted approximately 160 minutes (about two hours and 40 minutes). It was longest by the duration. This speech is ranked third in terms of the number of words.

Dr. Manmohan Singh's 1991 Budget speech is the longest in India's history in terms of words - 18,650 words.

Former Finance Minister Hirubhai Mulljibhai Patel in 1977 presented the interim Budget. 800 words and it became the Shortest Budget Speech.

A total of ₹333.14 crore for Grants-in-aid-Salaries and Grants-in aid-General for Indian Council of Cultural Relations (ICCR), Indian Council of World Affairs (ICWA) and Society for Research and Information System for Non-Aligned, Other Developing Countries (RIS) and India Centre for Migration.



Finance Minister, Nirmala Sitharaman has presented Economic Survey 2021-22 in the Parliament on 31st January 2022. The pre-budget Economic Survey is tabled in Parliament ahead of the Union Budget to present the state of the economy and suggest policy prescriptions. The pre-Budget Economic Survey is authored by a team led by Chief Economic Advisor (CEA). Days before the presentation, the Centre appointed economist V Anantha Nageswaran as the new CEA. He succeeds KV Subramanian who completed his three-year term in December 2021.The central theme of this year’s Economic Survey is the “Agile approach”.This year's survey uses various examples to highlight the use of satellite and geospatial data to reflect the infrastructural growth in the country. State of the Economy (GDP Growth) The Indian economy is estimated to grow by 9.2%

in real terms in 2021-22 (as per first advance estimates) subsequent to a contraction of 7.3% in 2020-21.

The Gross Domestic Product (GDP) projected to grow by 8-8.5% in real terms in 2022-23.

Projection comparable with World Bank and Asian Development Bank’s latest forecasts of real GDP growth of 8.7% and 7.5% respectively for 2022-23.

According to the International Monetary Fund’s latest World Economic Outlook projections, India’s real GDP is projected to grow at 9% in 2021-22 and 2022-23 and at 7.1% in 2023-2024, which would make India the fastest growing major economy in the world for all 3 years.

Combination of high Foreign Exchange Reserves, sustained Foreign Direct Investment, and rising export earnings will provide an adequate buffer against possible global liquidity tapering in 2022-23.

Fiscal Developments Sustained revenue collection and a targeted

expenditure policy has contained the Fiscal Deficit for April to November, 2021 at 46.2% of Budget Estimates.

The revenue receipts from the Central Government (April to November, 2021) have gone up by 67.2%

YoY(Year on Year) as against an expected growth of 9.6% in the 2021-22 Budget Estimates.

Gross Tax Revenue registers a growth of over 50% during April to November, 2021 in YoY terms.

This performance is strong compared to pre-pandemic levels of 2019-2020 also.

Tax Revenue forms part of the Receipt Budget, which in turn is a part of the Annual Financial Statement of the Union Budget.

During April-November 2021, Capex (Capital Expenditure) has grown by 13.5% (YoY) with focus on infrastructure-intensive sectors.



With the enhanced borrowings on account of Covid-19, the Central Government debt has gone up from 49.1% of GDP in 2019-20 to 59.3% of GDP in 2020-21, but is expected to follow a declining trajectory with the recovery of the economy.

Buoyant tax revenues and government policies have created “headroom for taking up additional fiscal policy interventions”.

Stressing the need to continue the focus on capital expenditure, it has indicated that the government is on course to achieve the fiscal deficit target of 6.8% of GDP for the current year (2021-22).

External Sectors

India’s merchandise exports and imports rebounded strongly and surpassed pre-Covid levels during the current financial year.

There was significant pickup in net services with both receipts and payments crossing the pre-pandemic levels, despite weak tourism revenues.

Net capital flows were higher at USD 65.6 billion in the first half of 2021-22, on account of continued inflow of foreign investment, revival in net external commercial borrowings, higher banking capital and additional Special Drawing Rights (SDR) allocation.

As of end-November 2021, India was the fourth largest forex reserves holder in the world after China, Japan and Switzerland.

Monetary Management and Financial Intermediation The liquidity in the system remained in surplus

Repo rate was maintained at 4% in 2021-22.

Reserve Bank of India undertook various measures such as G-Sec Acquisition Programme and Special Long-Term Repo Operations to provide further liquidity.

The economic shock of the pandemic has been weathered well by the commercial banking system:

Bank credit growth accelerated gradually in 2021-22 from 5.3% in April 2021 to 9.2% as on 31st December 2021.

The Gross Non-Performing Advances ratio of Scheduled Commercial Banks (SCBs) declined from 11.2% at the end of 2017-18 to 6.9% at the end of September, 2021.

Net Non-Performing Advances ratio declined from 6% to 2.2% during the same period.

Capital to risk-weighted asset ratio of SCBs continued to increase from 13% in 2013-14 to 16.54% at the end of September 2021.

The Return on Assets and Return on Equity for Public Sector Banks continued to be positive for the period ending September 2021.

Exceptional year for the capital markets

Rs. 89,066 crore was raised via 75 Initial Public Offering (IPO) issues in April-November 2021, which is much higher than in any year in the last decade.

Prices and Inflation

The average headline Consumer Price Index (CPI) -Combined inflation moderated to 5.2% in 2021-22 (April-December) from 6.6% in the corresponding period of 2020-21.

The decline in retail inflation (CPI) was led by easing food inflation. Food inflation averaged at a low of 2.9% in 2021-22 (April to December) as against 9.1% in the corresponding period last year.



Effective supply-side management kept prices of most essential commodities under control during the year. Proactive measures were taken to contain the price rise in pulses and edible oils.

Reduction in central excise and subsequent cuts in Value Added Tax by most States helped ease petrol and diesel prices.

Wholesale inflation based on Wholesale Price Index (WPI) rose to 12.5% during 2021-22 (April to December). This has been attributed to:

Low base in the previous year,

Pick-up in economic activity,

Sharp increase in international prices of crude oil and other imported inputs, and

High freight costs.

Divergence between CPI-C and WPI Inflation: The divergence peaked to 9.6% points in May 2020. However in 2021 there was a reversal in divergence with retail inflation falling below wholesale inflation by 8.0% points in December 2021. This divergence can be explained by factors such as:

Variations due to base effect,

Difference in scope and coverage of the two indices,

Price collections,

Items covered,

Difference in commodity weights, and

WPI being more sensitive to cost-push inflation led by imported inputs.

With the gradual waning of base effect in WPI, the divergence in CPI-C and WPI is also expected to narrow down.

Sustainable Development and Climate Change India’s overall score on the NITI Aayog Sustainable

Development Goals (SDG) India Index and Dashboard improved to 66 in 2020-21 from 60 in 2019-20 and 57 in 2018-19.

India has the tenth largest forest area in the world. In 2020, India ranked third globally in increasing its forest area during 2010 to 2020.

In 2020, the forests covered 24% of India’s total geographical area, accounting for 2% of the world’s total forest area.

In August 2021, the Plastic Waste Management Amendment Rules, 2021, was notified which is aimed at phasing out single use plastic by 2022.

Draft regulation on Extended Producer Responsibility for plastic packaging was notified.

The Compliance status of Grossly Polluting Industries (GPIs) located in the Ganga main stem and its tributaries improved from 39% in 2017 to 81% in 2020.

The Prime Minister, as a part of the national statement delivered at the 26th Conference of Parties (COP 26) in Glasgow in November 2021, announced ambitious targets to be achieved by 2030 to enable further reduction in emissions.

The need to start the one-word movement ‘LIFE’ (Lifestyle for Environment) urging mindful and deliberate utilisation instead of mindless and destructive consumption was underlined.

Agriculture and Food Management

The Agriculture sector experienced buoyant growth in the past two years, accounting for a sizable 18.8% (2021-22) in Gross Value Added (GVA) of the country registering a growth of 3.6% in 2020-21 and 3.9% in 2021-22.



Minimum Support Price (MSP) policy is being used to promote crop diversification.

Net receipts from crop production have increased by 22.6% in the latest Situation Assessment Survey (SAS) compared to the SAS Report of 2014.

Allied sectors including animal husbandry, dairying and fisheries are steadily emerging to be high growth sectors and major drivers of overall growth in the agriculture sector.

The Livestock sector has grown at a CAGR of 8.15% over the last five years ending 2019-20.

Government facilitates food processing through various measures of infrastructure development, subsidised transportation and support for formalisation of micro food enterprises.

India runs one of the largest food management programmes in the world.

Government has further extended the coverage of the food security network through schemes like PM Gareeb Kalyan Yojana (PMGKY).

Industry and Infrastructure

The Index of Industrial Production (IIP) grew at 17.4% during April-November 2021 as compared to (-)15.3% in April-November 2020.

Capital expenditure for the Indian railways has increased to Rs. 155,181 crores in 2020-21 from an average annual of Rs. 45,980 crores during 2009-14 and it has been budgeted to further increase to Rs. 215,058 crores in 2021-22 – a five times increase in comparison to the 2014 level.

Extent of road construction per day increased substantially in 2020-21 to 36.5 Kms per day from 28 Kms per day in 2019-20 – a rise of 30.4%.

Net profit to sales ratio of large corporations reached an all-time high of 10.6% in July-September quarter of 2021-22 despite the pandemic (RBI Study).

Introduction of Production Linked Incentive (PLI) scheme, major boost provided to infrastructure-both physical as well as digital, along with measures to reduce transaction costs and improve ease of doing business, would support the pace of recovery.

Services Gross Value Added

GVA of services crossed pre-pandemic level in July-September quarter of 2021-22; however, GVA of contact intensive sectors like trade, transport, etc. still remain below pre-pandemic level.

Overall service Sector GVA is expected to grow by 8.2% in 2021-22.

Foreign Direct Invest

During the first half of 2021-22, the service sector received over USD 16.7 billion Foreign Direct Invest – accounting for almost 54% of total FDI inflows into India.

Reforms

Major government reforms include, removing telecom regulations in IT-BPO sector and opening up of the space sector to private players.

Exports

Services exports surpassed pre-pandemic level in January-March quarter of 2020-21 and grew by 21.6% in the first half of 2021-22 - strengthened by global demand for software and IT services exports.

Start-Ups

India has become the 3rd largest start-up ecosystem in the world after the US and China. Number of new recognized start-ups increased to over 14000 in 2021-22 from 733 in 2016-17.



44 Indian start-ups have achieved unicorn status in 2021 taking the overall tally of unicorns to 83, most of which are in the services sector.

Social Infrastructure and Employment Employment

With revival of the economy, employment indicators bounced back to pre-pandemic levels during the last quarter of 2020-21.

As per the quarterly Periodic Labour Force Survey (PFLS) data up to March 2021, employment in urban sector affected by pandemic has recovered almost to the pre-pandemic level.

According to Employees Provident Fund Organisation (EPFO) data, formalisation of jobs continued during the second Covid wave; adverse impact of Covid on formalisation of jobs much lower than during the first Covid wave.

Social Infrastructure

Expenditure on social services (health, education and others) by Centre and States as a proportion of GDP increased from 6.2% in 2014-15 to 8.6% in 2021-22 (BE)

As per the National Family Health Survey-5:

Total Fertility Rate (TFR) came down to 2 in 2019-21 from 2.2 in 2015-16.

Infant Mortality Rate (IMR), under-five mortality rate and institutional births have improved in 2019-21 over year 2015-16.

Under Jal Jeevan Mission (JJM), 83 districts have become ‘Har Ghar Jal’ districts.

Increased allotment of funds to Mahatma Gandhi National Rural Employment Guarantee Scheme (MNREGS) to provide buffer for unorganised labour in rural areas during the pandemic.

In addition to the National Health Mission, Union Budget 2021-22, announced Ayushman Bharat Health Infrastructure Mission, a new Centrally Sponsored Scheme to develop capacities of primary, secondary and tertiary Health Care Systems, strengthen existing national institutions, and create new institutions to cater to detection and cure of new and emerging diseases.

India is among the few countries producing Covid vaccines. The country started with two made in India Covid vaccines. In line with India’s vision of Atmanirbhar Bharat, India’s first domestic Covid -19 vaccine, Whole Virion Inactivated Coronavirus Vaccine (COVAXIN), was developed and manufactured by Bharat Biotech International Limited in collaboration with National Institute of Virology of Indian Council of Medical Research (ICMR).

The progress of vaccination should be seen not just as a health response indicator, but also as a buffer against economic disruptions caused by repeated pandemic waves.

About the Economic Survey

Economic Survey is an annual document of the Ministry of Finance. It reviews the economic progress of the country and issues in the last 12 months.

The survey provides information related to the performance of key developmental schemes launched by the government. The document also explains the performance of major government policies and their impact.

The Economic Survey discusses major fiscal developments, macroeconomic factors, inflation, and other economic factors. The document also highlights the impact of agriculture, climate change, and employment on the economy of the country.

The 1st Economic Survey was tabled in 1950-51. However, till the year 1964, it was presented along with the budget.



UNION BUDJET 2022-23 TOP 50 MCQ1. With reference to union budget 2022-23, consider the

following statements? 1. Union Minister Nirmala Sitharaman cited India’s

nominal GDP (Gross Domestic Product) growth rate of 11.1% in 2022-23.

2. The Union Budget 2022-23 has estimated Rs 39,44,909 crore as total expenditure in FY23. . This is an increase of 4.6% over the RE of 2021-22.

3. The Union Budget 2022-23 has estimated a Fiscal Deficit (as % of GDP) to 6.4%.

Which of the statements given above are correct? a) Only 1 b) Only 2& 3 c) Only 1 & 2 d) Only 3 e) All 1, 2 & 3

2. With reference to union budget 2022-23,consider the following pairs

Name of the Ministries Allocation in 2022-23

1. Defence Rs 5,25,166 crore

2. Railways Rs 1,40,367 crore

3. Consumer Affairs, Food and Public Distribution

Rs 2,17,684 crore

Which of the pairs given above are correctly matched? a) Only 1 b) Only 2 c) Only 3 d) Only 2& 3 e) All 1, 2 & 3

3. With reference to union budget 2022-23, consider the following statements? 1. In 2022-23, 100% of 1.5 lakh post offices to come

on the core banking system. 2. To mark 75 years of our independence, it is

proposed to set up 75 Digital Banking Units (DBUs) in 75 districts of the country by Scheduled Commercial Banks.

3. The financial support for digital payment ecosystem announced in the previous Budget will continue in 2022-23.

a) Only 1 b) Only 2 c) Only 3 d) Only 1& 2 e) All 1, 2 & 3


Name of the Schemes Allocation in 2022-23

1. Saksham Anganwadi and POSHAN 2.0

Rs 20,263 crore

2. PM-POSHAN Rs 10,234 crore

3. PM-KISAN Rs 78,000 crore


5. With reference to union budget 2022-23, consider the following statements? 1. MGNREGS (Mahatma Gandhi National Rural

Employment Guarantee Scheme) has the highest allocation in 2022-23 at Rs 73,000 crore, but it was decreased upto 25.50% in allocation from the revised estimates of 2021-22.

2. In 2022-23, the total expenditure on subsidies is estimated to be Rs 3,55,639 crore, a decrease of 27.1% from the revised estimate of 2021-22.

3. The central government will transfer Rs 16,11,781 crore to states and union territories in 2022-23.

a) Only 1 b) Only 2 c) Only 3 d) Only 1& 2 e) All 1, 2 & 3



6. Consider the following statements regarding ‘Digital Rupee’ in union budget 2022-23 1. The FY23 will see the introduction of Digital

Rupee or Central Bank Digital Currency (CBDC) by the Reserve Bank of India (RBI) to boost digital economy using blockchain and other technologies.

2. The Reserve Bank of India Act, 1934 is being amended to enable RBI to issue its digital currency.

3. The RBI has been strongly opposing private cryptocurrencies as they could have implications on national security and financial stability. a) Only 1 b) Only 2 c) Only 3 d) Only 1& 2 e) All 1, 2 & 3

7. Consider the following statements regarding ‘.PM GatiShakti’ in union budget 2022-23 1. PM Gati Shakti has received it’s first-ever outlay

of Rs 20,000 crore in FY23 for integrated planning and coordinated implementation of infrastructure connectivity projects..

2. It is premised upon 7 parameters Roads, Railways, Airports, Ports, Mass Transport, Waterways and Logistics Infrastructure.

3. It was launched in October 2021 with a Rs 100 lakh crore project. a) Only 1 b) Only 2 c) Only 3 d) Only 1& 2 e) All 1, 2 & 3

8. With reference to union budget 2022-23, consider the following statements about ‘Ken Betwa’ 1. Ken-Betwa River Interlinking (KBRIL) Project,

India’s first river interlinking project, connecting Ken river in Madhya Pradesh with Betwa in Gujarat.

2. The Department of Water Resources, River Development & Ganga Rejuvenation, Ministry of Jal Shakti has been approved in the budget with the cost of Rs.44,605 crore.In 2022-23 Rs.1,400 crore will be allocated.

3. The Ken-Betwa Link Canal will be 221 km long, including a 2-km long tunnel. It will be implemented for the irrigation facility of Bundelkhand region a) Only 1 b) Only 2 c) Only 2&3 d) Only 1& 2 e) All 1, 2 & 3


Announcements Associated Field

1. DESH-Stack e-portal

Skill development of citizens

2. PM - DevINE Elementary level school education

3. Sunrise Opportunities

Genomics and Pharmaceuticals


10. With reference to union budget 2022-23, consider the following statements about ‘Parvatmala’ 1. 60,000 crore allocated in FY23. 2. National Ropeways Development Program,

Parvatmala will be taken up on PPP mode (public-private partnership) for ecologically sustainable alternative to conventional roads in difficult hilly areas.

3. Contracts to be awarded in 2022-23 for 8 ropeway projects of 60 Km length. a) Only 1 b) Only 2 c) Only 3 d) Only 2& 3 e) All 1, 2 & 3

11. With reference to union budget 2022-23, consider the following statements about ‘MSME’ 1. Udyam, e-shram, NCS (National Career Service)

and ASEEM (Aatmanirbhar Skilled Employee Employer Mapping) portals to be interlinked.

2. 130 lakh MSMEs provided additional credit under Emergency Credit Linked Guarantee Scheme (ECLGS).



3. e-shram,and NCS (National Career Service) are operating under Ministry of Labour and Employment. a) Only 1 b) Only 2 c) Only 3 d) Only 2& 3 e) All 1, 2 & 3

12. With reference to union budget 2022-23, consider the following statements about ‘Women and Children Empowerment’ 1. Saksham Anganwadis (Rural Child Care) are a

new generation anganwadis with better infrastructure. Two lakh anganwadis will be upgraded under the Scheme.

2. Rs. 60,000 crore will be allocated to to cover 3.8 crore households in 2022-23 to provide running tap water for every household under ‘Har Ghar, Nal Se Jal’.

3. Rs. 48,000 crore to be allocated for completion of 80 lakh houses in 2022-23 under ‘PM Awas Yojana’. a) Only 1 b) Only 2 c) Only 3 d) Only 2& 3 e) All 1, 2 & 3

13. With reference to union budget 2022-23, consider the following statements about ‘Public Capital Investment’ 1. The Union Budget envisaged boosting public

investment by raising capital expenditure by 35.4% to Rs 7.5 lakh crore, or 2.9% of the GDP in FY23. It is Rs. 5.54 lakh crore in the current year.

2. This budgeted capital expenditure is 2.2 times the expenditure of 2019-20.

3. With this investment along with the provision for creation of capital assets through grants-in-aid to states, the Central Government’s effective capital expenditure is estimated at Rs 10.68 lakh crore in 2022-23, which will be about 4.1% of GDP. a) Only 1 b) Only 2 c) Only 3 d) Only 2& 3 e) All 1, 2 & 3

14. With reference to union budget 2022-23, consider the following statements about ‘Providing Greater Fiscal Space to States’ 1. The outlay for the ‘Scheme for Financial

Assistance to States for Capital Investment’ is enhanced from Rs. 10,000 crores in BE 2021-22 to Rs. 15,000 crores in RE 2021-22.

2. There will be allocation of Rs 1 lakh crore to assist the states in catalyzing overall investments in the economy for FY23.

3. It is a 30-year interest free loan, over and above normal borrowings.

a) Only 1 b) Only 2 c) Only 1&2 d) Only 2& 3 e) All 1, 2 & 3

15. With reference to union budget 2022-23, consider the following statements? 1. The disinvestment target for 2022-23 is Rs 65,000

crore. This is 17% lower than the revised estimate of 2021-22 (Rs 78,000 crore).

2. The collections from income tax are expected to increase by 14% in 2022-23 to Rs 7,00,000 crore.

3. The collections from taxes on companies are expected to increase by 13% in 2022-23 to Rs 7,20,000 crore.

Which of the statements given above are correct? a) Only 1 b) Only 2& 3 c) Only 1 & 2 d) Only 3 e) All 1, 2 & 3

16. Under which article of the Constitution, the Central Government presents the Union Budget of India? a) Article 106 b) Article 112 c) Article 269 d) Article 275 e)None of these

17. The 92nd Union Budget of India is provided to steer the economy over the Amrit Kaal. How long is the period of Amrit Kaal? a)10 years b) 15 years c) 25 years d) 30 years e) None of these



18. With reference to union budget 2022-23,how many locations will be covered under the Multi-Modal Logistics Parks (MMLPs)? a) 4 b) 5 c) 6 d) 7 e) None of these

19. How many Vande Bharat Trains will be manufactured during the next three years? a) 100 b) 200 c) 300 d) 400 e) None of these

20. With respect to agriculture, 2023 has been announced as which of the following year? a) International Year of Food b) International Year of Grains c) International Year of Millets d) International Year of Farmers e) None of these

21. What is the allocation towards education in the Union Budget of 2023? a) Rs 1,01,300 b) Rs 1,12,000cr c) Rs 1,08,189cr d) Rs 1,04,278cr e) None of these

22. What kind of policy is set to be implemented to improve the efficiency in the Electric Vehicle eco-system in the budget FY22-23? a) Open Charge Policy b) Battery Swapping Policy c) Fast Charge Policy d) Light Electric Vehicle Policy e) None of these

23. Name the Act that is to be replaced with a new legislation to enable States to become partners in ‘Development of Enterprise and Service Hubs’. a) Foreign Trade (Development And Regulation) Act,

1992 b) Custom Act,196 c) Special Economic Zones (SEZ) Act, 2005 d) Trade Union Act,1926 e) None of these

24. How much funds have been allocated for COVID-19 vaccines in the Union Budget 2022-23? a)Rs 3100cr b)Rs 2266cr

c)Rs4910cr d)Rs 5000cr

e)None of these

25. What is the new percentage proposed for the Alternate Minimum Tax paid by cooperatives? a) 15% b) 16.2% c) 18.5% d) 19% e) None of these

26. Which new section is proposed to be included in Section 139 under the Income Tax Act, 1961 for the introduction of updated return? a) sub-section (6C) b) sub-section (8A) c) sub-section (7B) d) sub-section (5E) e)None of these

27. With reference to union budget 2022-23, In which city, an International Arbitration Centre will be set up for timely settlement of disputes under international jurisprudence? a) Mumbai b) Gandhinagar c) New Delhi d) Lucknow e) None of these

28. In which year that the Central Government plan to complete the laying optical fibre in all villages under the Bharatnet project? a) 2022 b) 2023 c) 2024 d) 2025 e) None of these

29. Which bank will facilitate funds with blended capital to finance startups for agriculture & rural enterprise? a)NABARD b) SBI c) PNB d) UCO e) None of these

30. With reference to union budget 2022-23,the Government of India aims to achieve the vision for? a) India@25 b) India@50 c) India@75 d) India@100 e) India@150



31. With reference to union budget 2022-23, Nirmala Sitharaman announced a new tax rule for taxpayers where a taxpayer can file an updated return on payment of taxes within? a) 1 year b) 2 years c) 3 years d) 4 years e) 5 years

32. With reference to union budget 2022-23, Production Linked Incentive schemes in 14 sectors with the potential to create how many new jobs? a) 60 lakh b) 50 lakh c) 40 lakh d) 30 lakh e) 20 lakh

33. With reference to union budget 2022-23, One class, one TV channel’ program of _______ will be expanded from 12 to 200 TV channels. a) PM eVIDYA b) PM ePADHSHALA c) PM eGURU d) PM eSARASWATI e) PM Ebook

34. With reference to union budget 2022-23, deduction for employer contribution to NPS increased to _____ from 10% earlier for State govt employees on par with central govt employees

a) 10% b) 11% c) 12% d) 13% e) 14%

35. Nirmala Sitharaman has presented the Union Budget for how many times in a row.

a) 1 b) 2 c) 3 d) 4 e) 5

36. With reference to union budget 2022-23, income from transfer of digital assets (Cryptocurrency) to be charged _____ tax, plus 1% tax on the transaction.

a) 25% b) 30% c) 15% d) 12% e) 05%

37. Which of the following scheme's next phase was announced in the Union Budget 2022-23?

a) Ease of Doing Business b) Stand Up India, Start Up India c) Aatmanirbhar Bharat d) Make In India e) Digital India

38. How many crores have been allocated to facilitate domestic manufacturing of solar energy and high-efficiency modules in Union Budget 2022-23?

a) 39,500 crore b) 22,500 crore c) 50,500 crore d) 19,500 crore e) 20,500 crore

39. With reference to union budget 2022-23, Custom duty for cut and polished diamonds has been reduced to how much percent? a) 5 percent b) 10 percent c) 15 percent d) 7 percent e) 7 percent

40. The Union Budget’s Document of Finance Bill is mandated for presentation under which article of the Constitution of India? a)Article 110 b)Article 111 c)Article 112 d)Article 113 e)None of thes

41. How much amount is allocated for the Aatmanirbhar Bharat Rojgar Yojana for 2022-23? a) 5000 crores b) 6400 crores c) 3000 crores d) 4000 crores e) 7400 crores

42. With reference to union budget 2022-23, Emergency Credit Linked Guarantee Scheme (ECLGS) has been extended up to a) March 2022 b) August 2022 c) March 2023 d) August 2023 e) December 2023

43. With reference to union budget 2022-23, What will be the Farm procurement value for FY23? a) Rs 1.35 trillion b) Rs 2.37 trillion c) Rs 3.54 trillion d) Rs 4.72 trillion e) Rs 5.31 trillion



44. With reference to union budget 2022-23, ‘Effective Capital Expenditure’ of Central Government estimated at ____________ in 2022-23, which is about 4.1% of GDP. a) 7.67 lakh crore b) 8.18 lakh crore c) 9.46 lakh crore d) 10.68 lakh crore e) 11.09 lakh crore

45. How much amount is allocated for the National Education Mission for 2022-23? a) 55000 crores b) 26400 crores c) 39,553 crores d) 34500 crores e) 27475 crores

46. How much amount is allocated for the National Health Mission (NHM) for 2022-23? a) 37,800 crores b) 28400 crores c) 39,550 crores d) 34500 crores e) 35475 crores

47. How much amount is allocated for Welfare of Women for 2022-23? a) 1,71,006 crores b) 1,26,400 crores

c) 1,19,553 crores d) 1,34,500 crores e) 1,27,475 crores

48. How much amount is allocated for North Eastern Region (NER for 2022-23? a) 56,300 crores b) 76,040 crores c) 69,550 crores d) 31500 crores e) 27800 crores

49. Who was the first Women Finance Minister of India? a) Vasundhara Raje b) Nirmala Sitharaman c) Indira Gandhi d) Anandiben Patel e) None of these

50. .Which Financial Year’s Union Budget of India was called as Black Budget? a) 1951-52 b) 1958-59 c) 1970-71 d) 1973 -74 e) None of these

Answers 1 e 11 e 21 d 31 b 41 b

2 e 12 e 22 b 32 a 42 c

3 e 13 e 23 c 33 a 43 b

4 d 14 c 24 d 34 e 44 d

5 e 15 e 25 a 35 d 45 c

6 e 16 b 26 b 36 b 46 a

7 e 17 c 27 b 37 a 47 a

8 c 18 a 28 d 38 d 48 b

9 d 19 d 29 a 39 a 49 c

10 d 20 c 30 d 40 a 50 d



SCIENCE AND TECHNOLOGYIsrael Successfully Test Fires its “C-Dome” Naval Air Defence System Israel successfully tests fired its “C-Dome or

Protective Dome” naval defence system based on Iron Dome which was tested against rockets, cruise missiles and Unmanned Aerial Vehicles (UAV).The C-Dome was successfully tested for the first time from Saar-6 Corvette INS Magen, Israel’s Naval Warship.

The C-Dome is a multilayer missile defence system, alongside the Arrow and David’s Sling systems which is capable of intercepting everything from long-range missiles to shortrange rockets.

ISRO successfully launches earth observation satellite, EOS-04 and 2 co-passenger satellites, in its first mission of 2022 The Indian Space Research Organisation (ISRO)

successfully launched an Earth Observation Satellite, EOS-04 and two small satellites into the intended orbit on February 14, 2022.

This was the first launch mission of ISRO in the year 2022.

The satellites were launched onboard the launch vehicle PSLV-C52 rocket from the First Launch Pad of Satish Dhawan Space Centre at Sriharikota in Andhra Pradesh.

EOS-04 is a Radar Imaging Satellite (RISAT) designed to provide high-quality images under all weather conditions for applications such as agriculture, forestry, and plantations, flood mapping, soil moisture & hydrology.

The satellite weighs about 1710 kg. It can generate 2280 W power. It has a mission life of 10 years.

Indian mining major Vedanta to manufacture semiconductors in India The Indian mining major Vedanta has tied up

with Taiwanese electronics manufacturing company, Hon Hai Technology Group (better known as Foxconn) to form a joint venture (JV) for manufacturing semiconductors in India. Anil Agarwal, the non-executive Chairman of Vedanta, will be the chairman of the JV company.

This is the first JV in the electronics manufacturing sector after the government announced a Rs 76,000 crore production-linked incentive (PLI) scheme for semiconductor and display manufacturing, to create an ecosystem of local production of semiconductors in India.

ISRO decommissioned INSAT-4B through 11 Re-orbiting manoeuvres Indian Space Research Organisation (ISRO) has

decommissioned the INSAT-4B, an Indian communications satellite that forms part of the Indian National Satellite System. The INSAT-4B underwent Post Mission Disposal (PMD) at the end of its service, followed by decommissioning on January 24. INSAT-4B is the 21st Indian Geostationary Earth Orbit (GEO) satellite to undergo post-mission disposal, the required propellant for such re-orbiting was included in the initial fuel budget as a part of standard practice followed in ISRO’s GEO mission planning.

The development is in compliance with the UN and the Inter-Agency Space Debris Coordination Committee (IADC) recommended space debris mitigation guidelines. The IADC guidelines



provide guidance for limiting the generation of orbital debris both during and after space operations. The guidelines also define accepted disposal orbits and other conditions, such as the timeline for abandoning commonly used orbits and controlling the risk to people and property on the Earth.

NASA will retire International Space Station in 2031 According to NASA, the International Space

Station will continue its operation until 2031 and then crash into an uninhabited area in the Pacific Ocean known as Point Nemo. It will be replaced with three free-flying space stations to continue the work after ISS’s retirement. NASA also selected Houston-based Axiom Space to provide the ISS’s first commercial module.

For over two decades, the International Space Station (ISS) has been orbiting Earth at a speed of about eight kilometres per second, while an international crew of astronauts and cosmonauts onboard conducted groundbreaking scientific investigations that have thrown open the doors for deep space exploration. But now NASA has announced that the spacecraft will cease operations in 2031, after which it will fall out of orbit and plunge into the waters of the South Pacific Ocean.

The International Space Station was the brainchild of former US President Ronald Reagan, who in 1984 proposed building a permanently inhabited spacecraft in cooperation with a few other countries. In 1998, the first piece of the space station, a control module, was launched into space onboard a Russian rocket.

IISc commissions one of India’s most powerful supercomputers ‘Param Pravega’ The Indian Institute of Science (IISc.),

Bengaluru, has installed and commissioned Param Pravega, one of the most powerful supercomputers in India. It is also the largest

supercomputer in an Indian academic institution. Param Pravega has a total supercomputing capacity of 3.3 petaflops (1 petaflop equals a quadrillion or 1015 operations per second).

The supercomputer has been designed by the Centre for Development of Advanced Computing (C-DAC). It has been developed under the National Supercomputing Mission (NSM), a joint initiative of the Department of Science and Technology (DST) and Ministry of Electronics and Information Technology (MeitY), and implemented by C-DAC and IISc.

IBM unveiled new Cybersecurity Hub in Bengaluru to address cyberattack International Business Machines Corp. (IBM) has

launched a cybersecurity hub in Bengaluru to address the concerns of its clients across the Asia Pacific (APAC) region. The multi-million dollar IBM Security Command

Center will be located at the IBM office in Bengaluru in Karnataka. It is the first of its kind facility in the region. The IBM global analysis report for 2022 states that Asia emerged as the top-most targeted region for cyberattacks, representing 26% of attacks analyzed in 2021. About the cybersecurity hub

This cybersecurity hub will deliver training in cybersecurity response techniques, to organisations of all types, through highly realistic, simulated cyberattacks, to prepare everyone, ranging from C-Suite to technical staff.

The new cyber security hub is one of the only two such centres of IBM globally. The other one is located in the US.



DEFENCE

IAF pulls out of multilateral air Exercise ‘Cobra Warrior 22’ in UK The Indian Air Force (IAF) has decided not to send

its aircrafts in the multilateral air exercise ‘Cobra Warrior-22’ in United Kingdom, due to the deepening crisis in Ukraine, arising out of the Russian military attack in that country.

The exercise is scheduled to take place from March 6 to 27, 2022, at Waddington in the United Kingdom.

The announcement by the IAF comes just three days after it confirmed its participation in the drills.

Third India-Japan joint exercise ‘EX DHARMA GUARDIAN-2022’ held in Belagavi The third edition of the joint military exercise “EX

DHARMA GUARDIAN-2022” between India and Japan was conducted from 27 February to 10 March 2022, at Belagavi (Belgaum), Karnataka.

The 15th Battalion the Maratha Light Infantry Regiment of the Indian Army and 30th Infantry Regiment of Japanese Ground Self Defence Forces (JGSDF) are participated in this 12 days long joint exercise.

The military exercise has focus on operations in Jungle & Semi-Urban/Urban terrains.

The exercise aims at enhancing the inter-operability and foster mutual understanding between the two Armies.Exercise DHARMA GUARDIAN is an annual military training event, being conducted in India since 2018.

Indian Navy’s multilateral exercise Milan-2022 held in Visakhapatnam Indian Navy multilateral exercise MILAN 2022

was held in Visakhapatnam, Andhra Pradesh.

The theme of the MILAN 2022 exercise is ‘Camaraderie – Cohesion – Collaboration’

MILAN 22 will be conducted in two phases over a duration of 9 days. These include:

Harbour phase – from 25 to 28 February

Sea Phase – from 01 to 04 March

More than 40 countries are participating in the exercise, which is larger in ‘scope and complexity’ than all previous editions.

The exercise will enhance operational skills, imbibe best practices and procedures, and enable doctrinal learning in the maritime domain, through professional interaction between friendly navies.

MILAN is a biennial multilateral naval exercise launched by Indian Navy in 1995 at Andaman and Nicobar Command.

Boeing delivers 12th P-8I maritime patrol aircraft to the Indian Navy The Indian Navy received the 12th anti-submarine

warfare aircraft P-8I from the US-based aerospace company Boeing on February 23, 2022.

This is the fourth of four additional aircraft, for which the contract was signed in 2016.

The Ministry of Defence had signed a contract for eight P-8I aircraft in 2009. However, later in 2016, it signed a contract for four additional P-8I aircraft.

P-8I is a long-range maritime reconnaissance and Anti-Submarine Warfare Aircraft, and a variant of the P-8A Poseidon used by the US Navy.

India was the first international customer of Boeing for this aircraft.

The Indian Navy inducted the first P-8I aircraft in 2013.



India receives three more Rafale Fighter Jets from France Three more Rafale fighter aircraft landed in India

from France on February 22, 2022, with Indian specific enhancements.

With this new arrival of the three jets, the total Rafale fleet with Indian Air Force (IAF) has reached 35.

The 36th and final aircraft will arrive in India from France by March- April 2022, and will be a trainer aircraft.

In September 2016, India exchanged Rs 59,000 crore deal with France for 36 Rafale fighter jets.

India and Oman organised Eastern Bridge-VI Air Exercise in Jodhpur The Indian Air Force (IAF) and Royal Air Force of

Oman (RAFO) have organised bilateral air exercise named Eastern Bridge-VI from February 21 to 25, 2022 at Air Force Station Jodhpur in Rajasthan.

Eastern Bridge-VI is the sixth edition of the exercise.

The exercise was provide an opportunity to enhance operational capability and interoperability between the two Air Forces.

Indian Army conducts first Hackathon Sainya Ranakshetram The Indian Army had conducted a first-of-its-kind

Hackathon named “Sainya Ranakshetram” from Oct 01, 2021 to Dec 31, 2021, to showcase the technological side of the Army and promote proficiency and expertise in the use of emerging technologies.

The event was organised online by the Military College of Telecommunication Engineering (MCTE), Mhow, in Madhya Pradesh, in collaboration with the Rashtriya Raksha University, Gandhinagar, under the overall guidance of the Shimla based Army Training Command (ARTRAC).

The event comprised of a number of challenges based on three themes namely Secure Coding,

Software Defined Radio exploitation and Cyber Offensive skills.

Bangladesh-US Air forces to conduct joint air exercise ‘Cope South 22’ The air forces of Bangladesh and the United States

was conduct a joint tactical airlift exercise ‘Cope South 22’ from February 20 to 25, 2022.

The six days exercise has sponsored by Pacific Air Forces (PACAF).

The bilateral exercise was held at Bangladesh Air Force (BAF) Kurmitola Cantonment, Dhaka; and Operating Location-Alpha, Sylhet, Bangladesh.

The goal of the exercise is bolstering bilateral ties between the two countries through tactical airlift sorties and subject-matter expert exchanges.

GSL delivers final vessel ‘ICGS Saksham’ under 5 Coast Guard Offshore Patrol Vehicle Project The Goa Shipyard Limited (GSL) delivered the 5th

and final vessel of the 5 Coast Guard Offshore Patrol Vehicle (CGOPV) Project to the Indian Coast Guard, on February 08, 2022, ahead of contractual schedule.

The vessel has been named as ICGS ‘Saksham’.

All 5 vessels under the project have been delivered before time to the Indian Coast Guard by GSL.

The contract for 5 CGOPVs was inked between GSL and the Ministry of Defence (MoD) on 26th Aug 2016 for INR 20 billion.

Other 4 vessels under the project are ICGS Sachet, ICGS Sujeet, ICGS Sajag and ICGS Sarthak respectively.

Goa Shipyard Limited (GSL) is an Indian Government owned ship building company located on the West Coast of India at Vasco da Gama, Goa. Chairman & MD – Bharat Bhushan Nagpal.



AWARDS AND HONOURSProf Deepak Dhar became the first Indian selected for Boltzmann Medal Physicist Professor, Deepak Dhar has become the

first Indian to be awarded the Boltzmann Medal. The Commission on Statistical Physics of the International Union of Pure and Applied Physics (IUPAP) presents this medal once in three years for contributions in the field of statistical physics. The medal presentation ceremony will be held during the StatPhys28 conference scheduled to be held in Tokyo in August this year. He shares the medal with John J Hoefield of Princeton University.

Prof Dhar is presently the emeritus faculty at the Indian Institute of Science Education and Research (IISER), Pune.

Coal India gets ‘India’s Most Trusted Public Sector Company’ award Maharatna company of the Government of India,

Coal India Limited has been awarded the ‘India’s Most Trusted Public Sector Company’ award. Coal India received this honour at the “Energy Meet and Excellence Award” function organized by Industry Chamber “ASSOCHAM” in Kolkata. The company has got this honour at a time when Coal India has not allowed the situation of power crisis in the country by significantly increasing coal production and supply in the last few months to meet the increased demand for coal for the power sector.

Philanthropist Bill Gates conferred Hilal-e-Pakistan honour to eradicate polio

Microsoft founder and philanthropist, Bill Gates has been conferred with Hilal-e-Pakistan, the second-highest civilian honour in the country, for his efforts to help eradicate polio in Pakistan. Gates is on a day-long visit to Pakistan and has met with Pakistan Prime Minister Imran Khan. He also visited the National Command and Control Centre (NCOC) that oversees efforts to curb Covid-19.

Dadasaheb Phalke International Film Festival Awards 2022 The prestigious ceremony of Dadasaheb Phalke

International Film Festival Awards 2022 was held on February 20. The event was held in Mumbai and the best performances from last year were honoured in the event this time. This year Dadasaheb Phalke International Film Festival Awards 2022 celebrated the opulence of Indian Cinema and also commemorated the 75 years of Independence or Azadi ka Amrit Mahotsav.

Best Film, Best Actor, Best Actress, Best Supporting Role, and Best Negative Role, were among the other titles that were given to the personalities of the Indian film fraternity.

Complete list of winners

Film of the Year Award: Pushpa: The Rise

Best Film Award: Shershaah

Best Actor Award: Ranveer Singh for film 83

Best Actress Award: Kriti Sanon for film Mimi

Outstanding Contribution to Films: Asha Parekh

Critics Best Actor Award: Sidharth Malhotra

Critics Best Actress Award: Kiara Advani

Best Actor in Supporting Role Award: Satish Kaushik for film Kaagaz

Best Actress in Supporting Role Award: Lara Dutta for film Bell-Bottom



Best Actor in Negative Role Award: Aayush Sharma for film Antim: The Final Truth

People’s Choice Best Actor Award: Abhimanyu Dasani

People’s Choice Best Actress Award: Radhika Madan

Best Debut Award: Ahan Shetty for film Tadap

Best Playback Singer Male Award: Vishal Mishra

Best Playback Singer Female Award: Kanika Kapoor

Critics Best Film Award: Sardar Udham Singh

Best Director Award: Ken Ghosh for film State of Siege: Temple Attack

Best Cinematographer Award: Jayakrishna Gummadi for film Haseena Dilruba

Best International Feature Film Award: Another Round

Best Short Film Award: Pauli Best Actor in Web Series Award: Manoj Bajpayee

for The Family Man 2 Best Actress in Web Series Award: Raveena

Tandon for Aranyak Best Web Series Award: Candy Best Actor in Television Series Award: Shaheer

Sheikh for Kuch Rang Pyar Ke Aise Bhi Best Actress in Television Series Award: Shraddha

Arya for Kundali Bhagya Television Series of the Year Award: Anupama Most Promising Actor in Television Series Award:

Dheeraj Dhoopar for Kundali Bhagya Most Promising Actress in Television Series

Award: Rupali Ganguly for Anupama 17th IBA’s Annual Banking Technology Awards 2021 Indian Banks’ Association (IBA) has announced the

IBA’s 17th Annual Banking Technology Awards 2021. In total South Indian Bank has won 6 awards in the event. This year’s IBA Awards celebrating “Next Gen Banking” has recognized technologies and practices in the banking industry that have demonstrated a high degree of innovation over the past year.

The list of winners in different categories Best Technology Bank of the Year

In Large Banks segment: Bank of Baroda In Small Banks segment: The South Indian Bank In Foreign Banks segment: Citibank N.A. Regional Rural Banks: Baroda Rajasthan Kshetriya

Gramin Best Digital Financial Inclusion Initiatives

Large Banks: State Bank of India Small Banks: The Jammu & Kashmir Bank Regional Rural Banks: Baroda Rajasthan Kshetriya

Gramin Best Payments Initiatives Public Banks: State Bank of India Private Banks: ICICI Bank

Best Fintech Adoption Large Banks: ICICI Bank Medium Banks: Federal Bank Small Banks: The South Indian Bank Regional Rural Banks: Baroda Rajasthan Kshetriya

Gramin Best Use of AI/ ML T & Data

Large Banks: ICICI Bank Small Banks: The South Indian Bank Regional Rural Banks: Telangana Grameena Bank

Best IT Risk & Cyber Security Initiatives Large Banks: Union Bank of India Medium Banks: Yes Bank Small Banks: The South Indian Bank Foreign Banks: The Hongkong & Shanghai

Banking Corporation Ltd Regional Rural Banks: Baroda Rajasthan Kshetriya

Gramin Co-operative Banks: The Saraswat Coop bank Small Finance/Payments Banks: Ujjivan Small

Finance Bank Cloud Adoption

Large Banks: Union Bank of India Medium Banks: Yes Bank Small Banks: Karur Vysya Bank Foreign Banks: Citi bank N.A Regional Rural Bank: Baroda Rajasthan Kshetriya

Gramin



SPORTS

Pooja Jatyan wins Silver at 2022 Para Archery World Championships held in Dubai Indian para archer Pooja Jatyan has won Silver

medal in the Recurve Women Finals at Para Archery World Championships 2022 held in Dubai.She lost to Petrilli Vincenza of Italy (7-3).

With this win, Pooja has become the first Indian to win a silver medal in an individual section of the Para World Championships.

India concluded its campign with 2 Silver medals at the Championship.

Shyam Sundar and Jyoti Balyan won Silver in Compound Open Mixed Team.

The biennial Para Archery World Championship was held from 19 to 27 February 2022 in Dubai, United Arab Emirates.

31st Southeast Asian Games to be held in Vietnam The 31st Southeast Asian Games will be held in

Vietnam from May 12 to 23, 2022. It is the biggest sporting event of Southeast Asia and is a biennial event. Capital of Vietnam i.e Hanoi will be the main venue of the event.

The event was originally scheduled to take place in November 2021 however it was postponed due to the Covid pandemic.

The mascot of the 2021 Southeast Asian Games is “Sao La”, inspired by saola – a rare mammal native to central Vietnam.

Moto of 31st Southeast Asian Games- “For a Stronger South East Asia”

In 2023, the Southeast Asian Games will be held at- Phnom Penh, Cambodia

India secures 8 medals at Singapore Weightlifting International 2022 India concluded its campaign at the Singapore

Weightlifting International 2022 with eight medals, including six golds and a silver and bronze each.

Saikhom Mirabai chanu wins Gold medal in 55kg category. Also secured her position for the Commonwealth Games 2022 in 49kg and 55kg category in Birmingham, United Kingdom.

Each of the eight Indian lifters who registered for the Singapore International won medals and secured their spots at the Birmingham 2022 Commonwealth Games, scheduled to be held in July-August..

India now have total 12 weightlifters qualified for the Commonwealth Games 2022 in Birmingham.

GM R Praggnanandhaa defeats Magnus Carlsen at Airthings Masters Chess Tournament A 16-year-old Indian Grandmaster (GM) R

Praggnanandhaa defeated World Number 1 Magnus Carlsen (Norway) in the 8th round of the Airthings Masters, an online rapid chess tournament. With this victory, R

Praggnanandhaa became the third Indian, after Viswanathan Anand and P Harikrishna, to accomplish the rare feat of defeating Magnus Carlsen.

With this, Pragg became the youngest player to beat Carlsen since the Norwegian became World Champion in 2013.



Rafael Nadal wins Mexican Open 2022 to clinch his 91st ATP title In tennis, Rafael Nadal (Spain) beat British number

one Cameron Norrie 6-4 6-4 to win the singles title of Mexican Open 2022 (also known as Acapulco title).

This is the 91st ATP title of his career and the third title of the season.

This is the fourth time that Rafael Nadal has won the Mexican Open title, after winning the previous ones in 2005, 2013 and 2020.

Men’s double title winners are Feliciano Lopez (Spain) and Stefanos Tsitsipas (Greece).

2022 Winter Olympics in Beijing concludes; Norway tops with 37 medals The Ladakh women’s ice hockey team has won the

9th National women’s ice hockey championship in 2022.

The closing ceremony of 2022 Beijing Winter Olympic Games was held on February 20, 2022, at National Stadium (known as the Bird’s Nest) in Beijing.

The 2022 Winter Olympics in Beijing, China, was held from 4 to 20 February 2022.

The Games featured a record 109 events across 15 disciplines in 7 sports.

The venues of the Games were distributed across three zones- Beijing, Yanqing and Zhangjiakou.

Norway topped medal table for the second successive Winter Olympics, winning a total of 37 medals, including 16 golds. This is a new record for the most amount of gold medals won at a single Winter Olympics.

Germany finished second with 27 medals overall,, while the host nation China finished third with 15 medals.

India at the 2022 Winter Olympics

The Indian team at the game was represented by one male alpine skier, Arif Khan.

He was the country’s flagbearer during the opening ceremony,meanwhile a volunteer was the flagbearer during the closing ceremony.India could not win any medal at the games.

2026 Winter Olympics: The Presidency of the Games was formally handed-over to Milan and Cortina d’Ampezzo, in Italy, to host the 2026 Winter Olympics.

Chelsea beat Palmeiras to win 2021 FIFA Club World Cup Champions English club Chelsea defeated Brazilian club

Palmeiras, 2-1, to win the 2021 FIFA Club World Cup final, held on February 12, 2022.

Chelsea has won the FIFA Club World Cup for the first time. The decisive goal was scored by Kai Havertz with 3 minute of extra time to go.

The final was held at Mohammed bin Zayed Stadium, Abu Dhabi.

ICC Players of the Month for January 2022 The International Cricket Council (ICC) announced

the winners of the ICC Players of the Month Award for January 2022 on February 14, 2022. The winners are:

Men’s category- South African batsman Keegan Petersen



Women’s category – England skipper Heather Knight

Ahmedabad IPL franchise names as ‘Gujarat Titans The Ahmedabad IPL franchise has been named

“Gujarat Titans” by its owner CVC Capital. Hardik Pandya has been declared as the Captain of this team.

Earlier in January 2022, Lucknow’s IPL team was named as “Lucknow Super Giants” by its owner RPSG Group.

China beat South Korea to win AFC Women’s Asian Cup India 2022 Football Tournament China PR defeated South Korea (Korea Republic),

3-2, to win the AFC Women`s Asian Cup India 2022 final title at the D.Y. Patil Stadium in Navi Mumbai on February 06, 2022.

This is the record-extending 9th AFC Women`s Asian Cup title won by China.

The following awards were given at the conclusion of the tournament:

Most Valuable Player – Wang Shanshan (China)

Top Scorer – Sam Kerr (7 goals) (Australia)

Best goalkeeper – Zhu Yu (China)

Fairplay Award – South Korea

Foundation Stone of World’s Third Largest Cricket Stadium laid in Jaipur The Rajasthan Chief Minister Ashok Gehlot and

BCCI President Sourav Ganguly laid the foundation stone of world’s third-largest cricket stadium in Jaipur on February 05, 2022.

The International Cricket Stadium in Jaipur will be the second-largest cricket stadium in India and the third-largest in the world.

The new international stadium will be built by the Rajasthan Cricket Academy (RCA) on the Jaipur-Delhi bypass, over 100 acres of land in Jaipur.

The stadium will have seating capacity of 75,000 spectators.

Currently Narendra Modi Stadium (former Motera stadium) in Ahmedabad is world’s largest stadium with a capacity of 132,000 spectators.

The second largest stadium is Australia’s Melbourne Cricket Ground (MCG) which has a capacity of 1,00,024 spectators.

India defeats England to win ICC under 19 World Cup Finals 2022 Indian Cricket team has defeated England by 4

wickets to win the 2022 ICC Under-19 World Cup Championship. This is the 5th time that India has won this title.

The tournament was held in West Indies. The Final match was played at Sir Vivian Richards Stadium, North Sound, Antigua

Yash Dhull is the winning captain from the Indian side.

Player of the tournament: Dewald Brevis (South Africa)

Player of the Match in the Finals: Raj Bawa (India)

Daryl Mitchell of New Zealand wins ICC Spirit of Cricket Award 2021 The International Cricket Council (ICC) has

selected New Zealand batter Daryl Mitchell as the winner of the ICC Spirit of Cricket Award 2021.

Mitchell won the award for his gesture during the T20 World Cup semi-final in Abu Dhabi on November 10,

2021 against England in which he did not take an easy single during the game as he felt he had “obstructed” the way of bowler Adil Rashid in that moment.

Mitchell is the fourth New Zealand player to win the award. Other three players include Daniel Vettori, Brendon McCullum and Kane Williamson.



PERSONS IN NEWSGautam Adani overtakes Mukesh Ambani as Asia’s Richest Person In accordance with the Bloomberg Billionaires

Index, Gautam Adani (59) net worth reached $88.5 billion overtaking Mukesh Ambani’s $87.9 billion becoming Asia’s richest person as on 8th February, 2022. With a nearly $12 billion jump in his personal wealth, he has become the 10th richest person in the world.

Globally the Elon Musk was named as the world’s richest person with total net worth of $235 Billion.He was followed by Jeff Bezos with total net worth of $183 Billion & Bernard Arnault withtotal net worth of $168 Billion.

19 yrs. old Zara Rutherford becomes youngest woman to fly solo around the world Zara Rutherford, a 19-year-old Belgian-British

pilot, has set the world record as the youngest woman to fly solo around the world and she has also become the first woman to circumnavigate the world in a microlight aircraft. She is also the first Belgian to

circumnavigate the world solo in a single-engine aircraft.

She completed her ~52,000-kilometre journey covering 41 countries in a bespoke Shark ultralight aircraft (Shark UL plane).

Sakibul Gani becomes 1st Cricketer to score triple-century on firstclass debut In February 2022, Sakibul Gani, an Indian cricketer

hailing from Motihari in Bihar, created a world record by becoming the first cricketer to score a triple century on his debut in a first-class match,

2021–22 Ranji Trophy. He scored 341 runs with 405 balls, (56 fours&2 sixes) against Mizoram at the Jadavpur University Campus Ground, Kolkata, West Bengal.

Legendary singer, Bharat Ratna awardee Lata Mangeshkar Passed Away Legendary Indian singer Lata Mangeshkar passed

away at the age of 92 in Mumbai, Maharashtra. She is also famous as the ‘Nightingale of India’. Lata Mangeshkar was born on September 28, 1929, in Indore, Madhya Pradesh (MP). She belonged to a family of musicians, her father Pandit Deenanath Mangeshkar and mother Shevanti Mangeshkar, was Marathi musician and theatre artist. Awards-

Bharat Ratna- in 2001, for the contribution to the arts. She became 2nd vocalist to receive this honour apart from late Carnatic singer M S Subbulakshmi.

Padma Vibhushan (1999),and Padma Bhushan (1969),‘Officier de la Legion d’Honneur’- France’s highest civilian award (Officer of the Legion of Honour) in 2009, Dadasaheb Phalke Award in 1989.

Hemananda Biswal, former CM of Odisha passes away at age 82 Politician and former Chief Minister of Odisha,

Hemananda Biswal passed away in Bhubaneswar at the age of 82 years. He was undergoing treatment for pneumonia.

He had served as the Chief Minister of Odisha twice. He was the first tribal chief minister of Odisha.



Renowned Malayalam actress KPAC Lalitha passes away at 74 Veteran Malayalam film and stage actress KPAC

Lalitha has passed away due to age related health issues. She was 74.

In her acting career spanning five decades, Lalitha starred in over 550 films, comprising both Malayalam and Tamil.

She had won two National Film Awards for Best Supporting Actress and four Kerala State Film Awards.

She also was the Chairperson of Kerala Sangeetha Nataka Academy for five years.

Freedom fighter and Gandhian social worker Shakuntala Choudhary passes away at 102 Noted freedom fighter and Gandhian social worker,

Shakuntala Choudhary has passed away. She was 102-year-old. She was popularly known as ‘Shakuntala Baideo’.

Choudhary hailed from Kamrup in Assam and was

known for her commitment and devotion to the popularization of the Gandhian way of life. She worked for the wellbeing of villagers, especially women and children.

She was felicitated with Padma Shri award in 2022 by the Government of India.

Actor, Olympian & Asian Games medallist, Praveen Kumar Sobti passed away Asian Games medallist, Praveen Kumar Sobti

passed away at the age of 74, due to heart attack. He was a hammer throw & discus throw player, film actor, politician, and soldier with Border Security Force (BSF).He was born in 1947 in Sarhali Kalan, Punjab.

As an actor, he starred in more than 50 Hindi films and played the famous character of “Bheem” in B.R. Chopra’s television series Mahabharat in 1988.

French Virologist Luc Montagnier, who codiscovered HIV virus passed away French virologist Luc Montagnier, who led the

team in 1983 that identified the human immunodeficiency virus (HIV) which causes Acquired ImmunoDeficiency Syndrome (AIDS), has died. He was Born in 1932 in France.

He shared the 2008 Nobel Prize for Medicine particularly in identifying the virus that causes AIDS with his fellow French scientist Francoise Barre-Sinoussi.

Padma Bhushan Rahul Bajaj former chairman of the Bajaj Group passed away Padma Bhushan Rahul Bajaj, Indian Industrialist

and former chairman of Bajaj Group passed away in Pune, Maharashtra.Rahul Bajaj took charge as the Chief Executive Officer(CEO) of Bajaj Auto in 1968 and was later appointed as Managing Director in 1972.He was born in 1938 in Calcutta.

The government of India honoured him with the Padma Bhushan, the third-highest civilian award of India in 2001 for Trade and Industries

Singer- Music composer Bappi Lahiri passes away at 69 Singer and music composer Bappi Lahiri,passed

away at the age of 69 at Mumbai’s CritiCare Hospital on February 16, 2022 due to OSA (obstructive sleep apnea).He won Filmfare Lifetime Achievement Award at 63rd Filmfare Awards in 2018.His real name was Alokesh Lahiri.



REPORTS, INDICES AND RANKINGS

International Intellectual property (IP) Index 2022: India ranks 43rd, US tops Global Innovation Policy Centre (GIPC) of United

States Chambers of Commerce (USCC) released the 10thedition of International Intellectual Property (IIP) Index, ‘Compete for Tomorrow’(IIP Index 2022).

India has ranked 43 out of 55 countries on the 2022 IIP Index. The Index is topped by the US with 95.48 percent followed by the United Kingdom (UK) with 94.14 percent and third position is occupied by Germany with 92.46 percent.45 economies improved their overall score in this 10th edition.

India’s overall score has increased from 38.40 percent (19.20 out of 50) in the ninth edition to 38.64 percent(19.32 out of 50) in the 10th edition.

India ranked 12th in Asia Region.Japan topped in the Asia Region.

Dollar-millionaire households in India increased by 11% in 2021: Hurun India Wealth Report According to the latest Hurun India Wealth Report

2021, the number of dollar-millionaire households in India increased by 11 percent to 4,58,000 households in 2021, as compared to 2020,

Household having a net worth of at least INR 7 crore ($1 million), is referred to as a dollar-millionaire household.

The report has estimated that the number of dollar-millionaire households in the country shall increase by 30% over the next five years to reach 6,00,000 households in 2026.

Meanwhile, in the list of cities with most millionaires, Mumbai has topped with 20,300 millionaires households.

Mumbai is followed by Delhi with 17,400 and Kolkata with 10,500 millionaire households, respectively.

The report is based on survey on 350 Indian ‘millionaires’ (individuals with a personal wealth of $1 million).

India ranks third globally in LEED Certified Green Buildings outside US in 2021 India has been ranked third in the world in the US

Green Building Council’s annual list of top 10 nations and areas outside of the United States for LEED-certified green buildings in 2021.

Leadership in Energy and Environmental Design (LEED) is the most widely used green building rating system in the world, and provides a framework for healthy, highly efficient, and cost-saving green buildings.

In 2021, India had 146 LEED certified buildings and spaces. This is nearly 2.8 million gross area square meters (GSM) of space, marking an increase of around 10% in LEED certified space from 2020.

China has topped the list with LEED certified space of more than 14 million GSM. Canada is at second position having more than 3.2 million GSM.

Though the United States is not included in the list but remains the world’s largest market for LEED with more than 26 million GSM certified during the year.

India ranks 46th in EIU’s Democracy Index 2021; Norway tops India is placed at 46th position, among 167 nations,

in the EIU’s 2021 Democracy Index, with an overall score of 6.91 on a scale of 0-10. India was ranked at 53rd spot last year.

Norway has topped the index with the score of 9.75.



New Zealand, Finland, Sweden and Iceland are the top five countries in the list.Afghanistan is at the bottom of the list at 167th spot with a score of 0.32

The Democracy Index is released by The Economist Intelligence Unit (EIU) to provide a snapshot of the current state of democracy worldwide.

The index is based on 5 parameters with 60 indicators. These parameters are:

electoral process and pluralism

functioning of government

political participation

political culture

civil liberties.

Based on the score, the countries are classified as one of four following types of regime:

Full democracy – scores greater than 8

Flawed democracy – scores greater than 6 and less than or equal to 8

Hybrid regime – scores greater than 4 and less than or equal to 6

Authoritarian regime – scores less than or equal to 4

Mumbai 5th, Bengaluru 10th most-congested city in the world; TomTom Traffic Index Ranking 2021 As per the TomTom Traffic Index Ranking 2021,

Mumbai has been ranked at 5th, Bengaluru at 10th and New Delhi has been ranked at 11th place in terms of most congested cities in the world in 2021.

Istanbul, Turkey has been declared as the most congested city in the world as per the ranking.

The ranking covers 404 cities across 58 countries.

India tops in terms of digital skills readiness as per Salesforce Global Index India has scored the highest on digital readiness

among the 19 countries that were surveyed as part of the Salesforce Global Index.

This index measures global employee sentiments and readiness to acquire the key digital skills needed by businesses today and over the next five years.

India had the highest digital readiness score of 63 out of 100, with 72% of respondents saying they were actively learning digital skills to prepare themselves for the future of work.

Jammu and Kashmir tops India Press Freedom Report 2021 Jammu and Kashmir has topped the list of States

and Union Territories where journalists and media houses were targeted in 2021 as per the India Press Freedom Report 2021.

The report was released by the Rights and Risks Analysis Group (RRAG) which is a New Delhi-based rights group.

The highest number of journalists or media organizations targeted was in J&K (25), followed by Uttar Pradesh (23), Madhya Pradesh (16), Tripura (15).

US regains top spot as India’s trade partner in 2021 The US was India’s top trading partner in the

calendar year 2021 with a trade of $112.3 billion. The US is followed by China on second. The value of trade between India and China was $110.4 billion.

In 2020, China was India’s top trading partner and the US was in the second rank. In 2019 USA was India’s top trading partner and China was on second.

India’s list of top ten trading partners also includes the UAE, Saudi Arab, Switzerland, Hong Kong, Singapore, Iraq, Indonesia and South Korea.



SUMMITS AND CONFERENCES Industry Connect 2022 The Union Minister of Chemicals & Fertilizers, Dr.

Mansukh Mandaviya, inaugurated a seminar “Industry Connect 2022”: Industry and Academia Synergy on February 25, 2022 in New Delhi.

The seminar has been organised by the Department of Chemicals & Petrochemicals under Ministry of Chemicals and Fertilizers, in association with Central Institute of Petrochemicals Engineering & Technology (CIPET) and Federation of Indian Chambers of Commerce and Industry (FICCI).

Objectives of the seminar is to establish synergy between industry and academia for the sector through

R&D – Laboratory to Industry,

Skill Gap Analysis for the Human Capital in Petrochemicals Sector,

Support Aatmanirbhar Bharat by providing Indigenous Technology,

Aatmanirbhar CIPET with the help of Industry Connect,

Support of Technology with the help of TDB (Technology Development Board)

Culture Minister G. Kishan Reddy inaugurates conference on Indian temple architecture ‘Devayatanam’ at Hampi Union Minister of Culture, G Kishan Reddy,

inaugurated Devayatanam, a one-of-a-kind odyssey (conference) of temple architecture of India, at Hampi, Karnataka, on February 25, 2022.

The Devayatanam is a two-day international conference organized by the Archaeological Survey of India (ASI) of the Ministry of Culture, on February 25-26, 2022.

The main aim of the conference is to highlight the architectures of Indian temples.

The conference will deliberate on philosophical, religious, social, economic, technical, scientific, art, and architectural aspects of temples.

The minister also released a booklet consisting of 75 glorious temples from across India.

India and France sign Roadmap on Blue Economy and Ocean Governance India and France have inked a roadmap to enhance

their bilateral exchanges on the blue economy and ocean governance.

The partnership will help to explore the potential for collaboration in marine science research for a better understanding of oceans, and ensure that the ocean remains a global common, a space of freedom and trade, based on the rule of law.

The agreement on ‘Roadmap on Blue Economy and Ocean Governance’ was signed between India’s External Affairs Minister Dr. S Jaishankar’s and his French counterpart Jean-Yves Le Drian

Dr. S Jaishankar is on three-day visit to France, from February 20 to 22, 2022, to attend EU Ministerial Forum for Cooperation in the Indo-Pacific scheduled for February 22.

India-UAE inks free trade agreement (FTA) to raise bilateral trade to $100 billion in 5 years Prime Minister Shri Narendra Modi and Crown

Prince of Abu Dhabi HH Sheikh Mohammed bin Zayed Al Nahyan held a Virtual Summit on February 18, 2022, with the aim to further strengthen the bilateral relations in all sectors.

Key highlights of the summit are as follows:

Comprehensive Economic Partnership Agreement (CEPA): This was signed between Minister of Commerce and Industry Shri Piyush Goyal and Minister of Economy of UAE, H.E. Abdulla bin Touq Al Marri.

The CEPA, is a free trade agreement (FTA) between the two countries to increase the bilateral trade from the current USD 60 billion to USD 100 billion in the next 5 years.This CEPA is India’s first bilateral trade agreement in the MENA (Middle East and North Africa) region.



Joint Vision Statement: The two leaders issued a Joint Vision Statement titled “Advancing the India and UAE Comprehensive Strategic Partnership: New Frontiers, New Milestone”.

This Statement is a roadmap for a future-oriented partnership between India and UAE. In this, the focus areas and outcomes have been identified to promote new trade, investment and innovation dynamic in diverse sectors, including economy, energy, climate action, emerging technologies, skills and education, food security, healthcare and defence and security.

MoUs: India and UAE have agreed upon following four MoUs during the Summit

Food Security Corridor Initiative – MoU signed between APEDA and DP World & Al Dahra

Cooperation in financial projects and services – MoU signed between India’s Gift City and Abu Dhabi Global Market

Cooperation in Climate Action

Cooperation in Education – Indian Institute of Technology (IIT) to be opened in the UAE

Joint Commemorative Stamp: The leaders of the two countries, released the stamp to commemorate 75th anniversary of India’s independence and 50th year of UAE’s foundation.

PM Narendra Modi delivers inaugural address at TERI’s World Sustainable Development Summit 2022 Prime Minister Narendra Modi delivered the

inaugural address at World Sustainable Development Summit via video conferencing on February 16, 2022. The World Sustainable Development Summit is the annual flagship event of The Energy and Resources Institute (TERI).The three day Summit will culminate on February 18, 2022.The theme for World Sustainable Development Summit 2022 is ‘Towards a Resilient Planet: Ensuring a Sustainable and Equitable Future’.

Some key issues to be discussed at the Summit includes climate change, sustainable production,

energy transitions, global commons and resource security.

Power Minister RK Singh co-chairs 4th India-Australia Energy Dialogue The 4th India-Australia Energy Dialogue was on

February 15, 2022 through video-conferencing.

The dialogue was co-chaired by Union Minister for Power and New & Renewable Energy, RK Singh and Australian Energy and Emissions Reduction Minister Angus Taylor.

The main topic of discussion during the dialogue was, energy transition, with focus on renewable energy, energy efficiency, storage, electronic vehicles, critical minerals among others.

Both the countries signed a Letter of Intent (LoI) for working towards reducing the cost of new and renewable energy technologies and scaling up their deployment to reduce global emissions.

There are five Joint Working Groups under the India – Australia Energy Dialogue. These are Power; New & Renewable Energy; Coal & Mines; Critical Minerals; and Oil & Gas.

PM Modi virtually addresses One Ocean Summit held under the leadership of France The One Ocean Summit was held from February 9

to 11, 2022, in Brest, France, in Hybrid format, under the chairmanship of Fench President Emmanuel Macron.Prime Minister Narendra Modi also addressed the One Ocean Summit through a video message on February 11, 2022.

The One Ocean Summit was organised by France in cooperation with the United Nations and the World Bank.

The main objective of the Summit was to bring together the international community to take concrete action towards preserving and supporting healthy and sustainable ocean ecosystems.The United Nations has declared the decade between 2021 and 2030 as the ‘Decade of Ocean Science for Sustainable Development’ to raise awareness and restore declining marine life.



APPOINTMENTSMadhabi Puri Buch appointed as Chairperson of Sebi for three years. Madhabi Puri Buch has been appointed as the new

chairperson of Securities and Exchange Board of India (SEBI). She is the first woman to head the securities market regulator.

She has been appointed for a period of three years with effect from March 01, 2022.Puri Buch succeeds Ajay Tyagi, whose five years tenure ends on February 28, 2022.

She is a former whole-time member of Sebi.

Rakesh Sharma re-appointed as MD & CEO of IDBI Bank for 3 years The Reserve Bank of India (RBI) has approved the

re-appointment of Rakesh Sharma as Managing Director and Chief Executive Officer of IDBI Bank.

Sharma has been appointed for a period of three years with effect from March 19, 2022.He was previously appointed as the MD & CEO of the bank in October 2018.

Sanjeev Sanyal inducted as full-time member in Economic Advisory Council to PM Noted economist and historian Sanjeev Sanyal has

been inducted as a full-time member in the reconstituted Economic Advisory Council to the Prime Minister (EAC-PM).

He has been appointed for a tenure of two years.Sanyal is currently serving as the principal economic adviser in the Ministry of Finance.

The EAC-PM is an independent body constituted by the central government that advises the prime minister on economic and related issues.

It was reconstituted in October 2021, for a period of two years, after its term came to an end in September 2021.

Chairman of EAC-PM – Niti Aayog member Bibek Debroy.

G Ashok Kumar appointed as India’s first national maritime security coordinator (NMSC) Former Vice Chief of Navy, Vice Admiral G Ashok

Kumar has been appointed as India’s first national maritime security coordinator (NMSC) on February 16, 2022.

NMSC will be part of the National Security Council Secretariat, and will report directly to National Security Adviser Ajit Doval. NMSC will have no forces under him.

As an NMSC, Kumar will be the nodal point for all issues and aspects related to maritime security; coordinate between all the agencies involved in maritime security and maritime civil issues; work to improve the country’s blue economy needs among other things..

Vineet Joshi takes over Chairman of CBSE AS Vineet Joshi has been appointed as the new

Chairman of Central Board of Secondary Education (CBSE) with effect from February 14, 2022.Mr Joshi, a 1992-batch IAS officer of the Manipur cadre, is an Additional Secretary, Department of Higher Education, under Ministry of Education.

He replaces IAS Manoj Ahuja, who has been appointed as the Officer on Special Duty (OSD) in the Department of Agriculture and Farmers Welfare.

Vineet Joshi is also the Director-General of the National Testing Agency (NTA). In 2010 as well he got the responsibility of CBSE chairman.



Ilker Ayci appointed as MD and CEO of Air India Ilker Ayci has been appointed as the new CEO and

MD of Air India. He will assume his responsibilities on or before 1st April 2022.

Ilker Ayci is a former chairman of Turkish Airlines. Ayci was born in Istanbul in 1971.

Germany re-elects President Frank-Walter Steinmeier for second 5-year term German President Frank-Walter Steinmeier has

been re-elected for a second term of five years on February 13, 2022 by a special parliamentary assembly.This is also the final term for Steinmeier, which he won with 71% of the vote.

The special assembly was made up of the members of parliament of lower house and representatives of Germany’s 16 states.

Steinmeier was first elected as the president on February 12, 2017 with 74% of the vote.

S. Kishore appointed as Chairman of Staff Selection Commission S Kishore has been appointed as the Chairman of

Staff Selection Commission (SSC).The approval regarding this was given by the Appointments Committee of the Cabinet. S Kishore is a 1989-Batch IAS officer of West Bengal cadre.

N Chandrasekaran reappointed as Chairman of Tata Sons for second 5 year term The board of Tata Sons Pvt Ltd has approved the

re-appointment of N Chandrasekaran as the Executive Chairman of the company for second five years term on February 11, 2022.

Chandrasekaran’s current tenure as the chairman was to expire at the end of February 2022.

Chandrasekaran joined the board of Tata Sons in 2016 and took over the role as Chairman in 2017.

NATO chief, Jens Stoltenberg to head Norway central bank

Jens Stoltenberg will be appointed as the Governor of Norges Bank i.e. the Central Bank of Norway at the end of 2022.

Jens Stoltenberg is the Secretary-General at North Atlantic Treaty Organization (NATO) and his term at NATO ends on October 01, 2022.

GoI appoints Dinesh Prasad Saklani as new Director of NCERT Dinesh Prasad Saklani has been appointed as the

new Director of the National Council of Educational Research and Training (NCERT), for five years.

He is currently a professor of history at the HNB Garhwal University, in Uttarakhand.

Saklani succeeds Hrushikesh Senapaty, whose five year term ended in November 2020.

Sridhar Srivastava has been holding the position on interim charge since then.

NCERT (Headquarter – New Delhi) is an autonomous institution under the Ministry of Education (MoE). It is responsible for advising the Union government on school curriculum and drafting school textbooks.

Santishree Dhulipudi Pandit appointed as first woman Vice Chancellor of JNU The Ministry of Education (MoE) has appointed

Santishree Dhulipudi Pandit as the new Vice-Chancellor of Jawaharlal Nehru University (JNU) on February 7, 2022.

She is the first women Vice-Chancellor of JNU. The 59-year-old Pandit has been appointed for a

period of five years. Pandit replaces M Jagadesh Kumar, who has

been appointed as Chairman of the University Grants Commission (UGC) (Read Here)

Before this appointment, Pandit was serving as the Vice-Chancellor of Savitribai Phule University in Maharashtra.



IMPORTANT DAYS AND THEMES National Science Day– February 28 The National Science Day is celebrated on 28

February each year in India to spread the message about the importance of science in the daily life of the people.Theme for 2022 – ‘Integrated Approach in S&T for Sustainable Future’

The day also commemorates the discovery of Raman effect.Indian physicist Sir C V Raman discovered the Raman effect on 28 February 1928.and was awarded the Nobel Prize in Physics in 1930 for it.

National Protein Day – February 27 In India, February 27th is celebrated as the National

Protein Day, to create awareness about protein deficiency and encourage people to include of this macronutrient in their diet.Theme for 2022: ‘Food Futurism‘.

The day was launched on February 27, 2020, by the ‘Right to Protein’, a national-level public health awareness initiative to educate people about the importance of adequate protein consumption for better nutrition, health, and wellbeing.

Protein Day is celebrating its third year in 2022.

World Day of Social Justice– February 20 The World Day of Social Justice is observed on

February 20 every year since 2009.The day was proclaimed by the UN General Assembly in 2007 under the leadership of the Kyrgyz Republic.

Aim : Recognize the need to promote and tackle issues of social justice such as poverty, exclusion, gender equality, unemployment, human rights, and social protections

National Women’s Day – February 13

In India, the National Women’s Day is observed every year on 13 February.

The day commemorates the birth anniversary of Sarojini Naidu, the political activist and poet who was an important figure in India’s struggle for independence from colonial rule.Sarojini Naidu was

born on February 13, 1879. She earned the title as the Nightingale of India or ‘Bharat Kokila’, by Mahatma Gandhi, because of colour, imagery and lyrical quality of her poetry.

National Productivity Day– February 12 In India, the National Productivity Day is observed

every year on February 12 by the National Productivity Council (NPC).Theme 2022: “Self Reliance Through Productivity” (“उ पादकता के मा यम से आ म िनभरता”).The day is observed to commemorate the formation of National Productivity Council (NPC), that aims to stimulate and promote productivity and quality consciousness across all sectors in the country.The week from February 12 to 18 is observed as the National Productivity Week.

World Pulses Day– February 10 Every year World Pulses Day is celebrated on 10

February to spread public awareness of the nutritional and environmental benefits of pulses as part of sustainable food production.2022 theme: “Pulses to empower youth in achieving sustainable agrifood systems”

Financial Literacy week 2022–February 14-18

The Reserve Bank of India will observe February 14-18, 2022 as Financial Literacy week 2022. The theme of Financial Literacy week 2022 is: “Go Digital, Go Secure”.The theme is aligned with one of the strategic objectives of the National Strategy for Financial Education: 2020-2025.

World Cancer Day- February 4 The World Cancer Day is observed every year

globally on 4th February by the Union for International Cancer Control (UICC). 2022 theme: ‘Close the Care Gap’

World Wetlands Day– February 2 The World Wetlands Day is observed every year on

February 2 all over the world. 2022 marks 51 years of the Convention on Wetlands.2022 theme:‘Wetlands Action for People and Nature’.



CURRENT AFFAIRS PRACTICE QUESTIONS1. The Central Government recently (in Feb '22)

approved the continuation of the Central Sector Umbrella Scheme of "Border Infrastructure and Management (BIM)" from 2021-22 to _____ with an outlay of __________. a) 2023-24; Rs 11,980 crore b) 2024-25; Rs 13,020 crore c) 2025-26; Rs 10,769 crore d) 2024-25; Rs 11,980 crore e) 2025-26; Rs 13,020 crore

2. Which company recently (February 22nd) announced its participation in the "SEA-ME-WE-6" undersea cable consortium as a "major investor" to scale up its high-speed global network capacity? a) Bharti Airtel b) Vodafone Idea c) MTNL d) BSNL e) Reliance Jio

3. The bilateral air exercise named ‘Eastern Bridge-VI’ was commenced between India & _____________ in Jodhpur Air Force Station in Rajasthan. a) Indonesia b) UAE c) France d) Saudi Arabia e) Oman

4. In February 2022, who won the Airthings Masters chess tournament and became the 3rd Indian to defeat Magnus Carlsen, World Number 1? a) Bharath Subramaniyam b) R Praggnanandhaa c) Harika Dronavalli d) Karthik Venkataraman e) Arjun Vishnuvardhan

5. Which country will host the 2023 International Olympic Committee (IOC) sessions after 40 years? a) South Korea b) France c) China d) India e) Japan

6. In February 2022, the Ministry of Education approved the continuation of the National Means-cum-Merit Scholarship (NMMSS) for a period of __________ with an outlay of Rs 1827.00 crore. a) 4 years b) 5 years c) 6 years d) 2 years e) 3 years

7. In February 2022, The ‘Upper Bhadra Project’ got national project status by the central government’s high-powered committee and received a Rs 12,500 crore grant from the centre.‘Upper Bhadra Project’ is the 1st project in _________ state to get National Status. a) Jharkhand b) Kerala c) Telangana d) Andhra Pradesh e) Karnataka

8. Which Bank recently (in Feb’22) partnered with Indore Clean Energy Private Limited (ICEPL) to fund Asia's Largest Bio-CNG Plant ‘Gobar-Dhan’, Indore,Madhya Pradesh? a) State Bank of India b) HDFC Bank c) ICICI Bank d) YES Bank e) Axis Bank

9. In February 2022, the government of India approved the continuation of the Immigration Visa Foreigners Registration Tracking (IVFRT) Scheme till _____________ with an outlay of 1,364.88 crores. a) 30th April, 2025 b) 31st March, 2026 c) 30th June, 2024 d) 31st January, 2026 e) 30th, March 2024

10. As part of India's Comprehensive Economic Partnership Agreement (CEPA) in which country India is planning to establish its first IIT outside of India? a) Dubai, UAE b) Melbourne, Australia c) Ottawa, Canada d) Berlin, Germany e) Kuala Lumpur, Malaysia

11. Which country will hold the Presidency of the G20 from December 1, 2022, to November 30, 2023? a) South Africa b) Indonesia c) Germany d) India e) France

12. The RBI recently (in Feb’22) extended the deadline for NBFC’s to comply with new NonPerforming Assets (NPAs) classification norms to __________. a) July 2022 b) June 2022 c) April 2022 d) May 2022 e) September 2022



13. Name the Organization that recently (in Feb’22) launched the ‘Quit Tobacco App’ to help people quit tobacco use in all forms. a) UN-Habitat b) UNICEF c) WHO d) UNDRR e) UNEP

14. . According to Goldhub, the Reserve Bank of India (RBI) has emerged as the _______ largest buyer of Gold among the world’s Central Banks in 2021, while ______ topped the List. a) 3rd; Central Bank of Brazil b) 4th; Hungarian National Bank c) 2nd; Central Bank of Thailand d) 4th; Central Bank of Brazil e) 3rd; Hungarian National Bank

15. In February 2022, _________ became the 1st foreign country to adopt India’s UPI (Unified Payments Interface) system to boost its digital payment platform. a) Nepal b) Vietnam c) Bangladesh d) Myanmar e) Bhutan

16. Name the Indian Navy’s Warship that recently (in Feb’22) tested-fire the BrahMos Supersonic Cruise Missile off the western seaboard. a) INS Kalvari b) INS Vela c) INS Imphal d) INS Vagir e) INS Visakhapatnam

17. . Name the book that was authored by Bill Gates, the co-founder of Microsoft Corporation,which will be published in May 2022. a) Built to Last: Successful Habits of Visionary Companies b) Think Like a Champion c) How To Prevent The Next Pandemic d) COVID-19: The Pandemic e) Zero to One

18. The Cabinet Government recently (in Feb’22) approved the continuation of Rashtriya Uchchatar Shiksha Abhiyan (RUSA) scheme till __________ with an expenditure of Rs. 12,929.16 crore. a) 1st June 2026 b) 31st March 2026 c) 1st June 2024 d) 30th April 2025 e) 1st January 2026

19. . In which state the 48th edition of the Khajuraho Dance Festival will be held from 20th to 26th February, 2022? a) Punjab b) West Bengal c) Madhya Pradesh d) Rajasthan e) Uttar Pradesh

20. . What is the upper tolerance level of inflation target for the 5 years (April 1, 2021 to March 31, 2026) set by the Central Government of India? a) 8% b) 7% c) 5% d) 6% e) 4%

21. Which Cricketer was portrayed as the superhero in this graphic novel "Atharva - The Origin"? a) Krishnamachari Srikkanth b) Kapil Dev c) M. S Dhoni d) Sachin Tendulkar e) Virat Kohli

22. As per a brand valuation report released by Brand Finance, Life Insurance Corporation has been ranked at _____ in the list of insurance brands globally. a) 8th b) 7th c) 10th d) 5th e) 9th

23. According to the Bloomberg Billionaires Index, who became Asia’s richest person by overtaking Mukesh Ambani? a) Robert Budi Hartono b) Gautam Adani c) Ma Huateng d) Shiv Nadar e) Colin Huang

24. In February 2022, which communications satellite was decommissioned by ISRO through 11 manoeuvres after successful completion of 14 years of on-orbit operation? a) CMS-01 b) INSAT-4E c) GSAT-15 d) INSAT-4B e) INSAT-1A

25. Who authored the book, ‘Golden Boy Neeraj Chopra’, the Biography of Neeraj Chopra? a) Amit Bose b) Navdeep Singh Gill c) Abhinav Bindra d) Rohit Brijnath e) Boria Majumdar

26. In February 2022, ________became the 1st UT to integrate with the National Single Window System (NSWS) to enable the Ease of Doing Business. a) Delhi b) Ladakh c) Jammu & Kashmir d) Puducherry e) Chandigarh

27. Which district secured 1st Rank for Most Improved Aspirational District in NITI Aayog’s Delta Rankings for December 2021? a) Baramulla, J & K b) Malkangiri, Odisha c) Begusarai, Bihar d) Chhatarpur, Madhya Pradesh e) Ramgarh, Jharkhand



28. India’s 1st commercial biomass-based hydrogen plant with an investment of Rs. 24 crore will be set up in which place? a) Bagalkot, Karnataka b) Khandwa, Madhya Pradesh c) Dhanbad, Jharkhand d) Jamnagar, Gujarat e) Kannauj, Uttar Pradesh

29. . India secured _________ rank in the 9th annual ranking of top 10 countries outside of the United States for Leadership in Energy and Environmental Design (LEED) in 2021, released by US Green Building Council (USGBC), which was topped by________. a) 3rd; China b) 2nd; Spain c) 4th; Canada d) 2nd; South Korea e) 4th; China

30. Which of the following policy rates is ‘wrongly matched’ with respect to the 6th Bi-Monthly Monetary Policy of FY 21-22 released by RBI in February 2022? a) Policy Repo Rate - 4.25% b) Reverse Repo Rate - 3.35% c) Bank Rate - 4.25% d) Cash Reserve Ratio - 4.00% e) Statutory Liquidity Ratio - 18.00%

31. . In February 2022, __________ was recognised as ‘World Longest Highway Tunnel above 10,000 feet from Mean Sea Level’ by World Book of Records. a) Nandini Tunnel b) Atal Tunnel c) Syama Tunne d) Jawahar Tunnel e) Chattergala Tunnel

32. As per the Global Entrepreneurship Monitor 2021/2022 Report, India secured _____ rank in the category of easiest places to start a new business, while _____ topped the list. a) 2nd; Sweden b) 4th; Saudi Arabia c) 2nd; Netherlands d) 3rd; Saudi Arabia e) 4th; Sweden

33. Which bank recently (in Feb’22) launched an Annual Start-up Program named 'Agri Infinity’ to co-develop digital financial solutions for the food & agriculture ecosystem by mentoring entrepreneurial ventures? a) IndusInd Bank b) YES Bank c) HDFC Bank d) Axis Bank e) ICICI Bank

34. Who was appointed as the new MD and CEO of Air India with the effect from 1st April 2022? a) Amrita Sharan b) Rajiv Bansal c) R S Sandhu d) Vinod Hejmadi e) Ilker Ayci

35. . Which of the following satellites were recently (February 2022) launched into a sunsynchronous polar orbit at 529 km altitude from Satish Dhawan Space Centre in Sriharikota by ISRO using PSLV-C52 rocket? a) INSPIREsat-1 b) EOS-04 c) INS-2TD d) Both 1 & 2 e) All 1, 2 & 3

36. . As per the National Statistical Office data, the retail inflation rate based on CPI has increased at ______% in January 2022, which is the highest in _______ months. a) 4.89%; Seven b) 6.01%; Five c) 5.78%; Four d) 6.01%; Seven e) 5.78%; Five

37. India's SWAYAM portal is the World's Largest MOOC platform. What does MOOC stand for? a) Massive Open Online Certification b) Multimedia Open Online Certification c) Massive Open Online Courses d) Multimedia Oriented Online Courses e) Multimedia Oriented Online Certification

38. In February 2022, India nominated the Hoysala temple for UNESCO’s World Heritage Sites List 2022-2023. The temple is located in which city of Karnataka? a) Belur b) Halebid c) Somnathapura d) Both 1 & 2 e) All 1, 2 & 3

39. Who recently (in Feb’22) won the International Cricket Council (ICC) Spirit of Cricket Award 2021? a) Steve Smith (Australia) b) Jason Roy (England) c) Daryl Mitchell (New Zealand) d) Janneman Malan (South Africa) e) Chris Gayle (West Indies

40. . Which country recently (in Feb’22) tested fired Intermediate Range Ballistic Missile (IRMB) named “Hwasong-12”? a) UAE b) Japan c) North Korea d) China e) South Korea

41. The Indian Navy recently (in Feb’22) flight tested the Rafale-M Fighter Jet that will be deployed in which INS? a) INS Khukri b) INS Visakhapatnam c) INS Rajput d) INS Vikrant e) INS Arihant



42. The Global Digital Skills Index 2022 was released by __________ & the Index was topped by _________. a) Oracle; Brazil b) Salesforce; India c) Oracle; Mexico d) Salesforce; Brazil e) HubSpot; Thailan

43. In 2021, Asian Development Bank (ADB) provided a record _________ in sovereign lending to India for 17 loans. a) USD 5.5 billion b) USD 4.6 billion c) USD 3.5 billion d) USD 3.9 billion e) USD 5.2 billion

44. Who recently (in Feb’22) got appointed as the Head of the Controller General of Accounts (CGA)? a) J.P.S. Chawla b) Girraj Prasad Gupta c) Aruna Makhan d) Sonali Singh e) Deepak Das

45. Who was appointed as the brand ambassador of Uttarakhand state in February 2022? a) Vandana Katariya b) Akshay Kumar c) Rajkummar Rao d) Aamir Khan e) Salman Khan

46. The Government of India aims to produce ______ of Solar Power through rooftop Solar by end of ______. a) 40 GW; 2024 b) 50 GW; 2023 c) 40 GW; 2022 d) 50 GW; 2024 e) 60 GW; 2023

47. . What is the Minimum Average Maturity Period for External Commercial Borrowing (As of Feb’22)? a) 8 years b) 3 years c) 6 years d) 2 years e) 5 years

48. Exercise DHARMA GUARDIAN 2022 is a military training exercise of India with which country? a) Japan b) USA c) Sri Lanka d) Nepal e) France

49. Who has recently appointed as the CEO of National e-Governance Division (NeGD)? a) Vinay Singh b) Vinay Thakur c) Debabrata Nayak d) Abhishek Singh e) Satya Narayan Meena

50. Indian weightlifter_______has won the gold medal in the 55kg weight category at the Singapore Weightlifting International 2022. a) Punam Yadav b) Geeta Rani c) Khumukcham Sanjita Chanu d) Swati Singh e) Mirabai Chanu

Answers 1 e 11 d 21 c 31 b 41 d

2 a 12 e 22 c 32 b 42 b

3 e 13 c 23 b 33 b 43 b

4 b 14 c 24 d 34 e 44 d

5 d 15 a 25 b 35 e 45 b

6 d 16 e 26 c 36 d 46 c

7 e 17 c 27 b 37 c 47 b

8 b 18

b 28 b 38 e 48 a

9 b 19 c 29 a 39 c 49 d

10 a 20 d 30 a 40 c 50 e

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