Daily Current Affairs- 4 October 2023

Today's Current Affairs 4th October 2023

INTERNATIONAL

Uganda Airlines to start direct flight to Mumbai thrice a week

• On 3 October, Uganda Airlines announced a significant milestone in its operations by commencing direct flight services between Mumbai’s Chhatrapati Shivaji Maharaj International Airport and Entebbe International Airport in Uganda. The maiden flight for this route, UR 430, is scheduled to take off from Entebbe on 7 October, with the return flight, UR 431, departing from Mumbai on 8 October.
• Uganda Airlines has taken a significant step in expanding its international network by launching direct services between Mumbai and Entebbe. The commencement of this route, effective from 7 October, is set to strengthen the ties between the two nations in various domains, including trade, commerce, and tourism.

 NATIONAL

Jammu and Kashmir's famed Pashmina gets geographical recognition with GI tag

• Basohli Pashmina, an age-old traditional craft originating from the picturesque district of Kathua in Jammu and Kashmir, has recently earned the prestigious Geographical Indication (GI) tag. This recognition not only celebrates the exceptional craftsmanship of the artisans but also protects the authenticity and uniqueness of this artisanal heritage.
• Basohli Pashmina is renowned for its exceptional softness, fineness, and feather-like weight. Crafted by skilled artisans using traditional hand-spinning techniques, this exquisite fabric has been a symbol of luxury and elegance for over a century. Its hallmark is its remarkable ability to provide warmth without adding bulk, making it an ideal choice for cold climates and discerning fashion enthusiasts.

 SPORTS

ICC names Sachin Tendulkar as Global Ambassador for ODI world cup

• The International Cricket Council (ICC) on Tuesday named legendary cricketer Sachin Tendulkar as the 'Global Ambassador' for the Cricket World Cup 2023, which begins tomorrow in Ahmedabad.
• Sachin, who has participated in a record six 50-over World Cups, will unveil the World Cup trophy before the inaugural match between England and New Zealand, thereby officially opening the tournament.

 Rest of India win Irani cup 2023-24

• Defending Ranji Trophy champion Saurashtra was bundled out for 79 in a 175-run defeat by Rest of India in the Irani Cup at the Saurashtra Cricket Association Stadium in Rajkot on Tuesday.
• Chasing a 255-run target, Jaydev Unadkat’s men were skittled by a spin attack led by left-armer Saurabh Kumar’s six-wicket haul (6/43). Shams Mulani and off-spinner Pulkit Narang picked up the remaining wickets as RoI bagged the title.

 APPOINTMENTS AND RESIGNATIONS

Vice Admiral Tarun Sobti, AVSM, VSM assumed charge as Deputy Chief Of Naval Staff

• Vice Admiral Tarun Sobti, AVSM, VSM, took over as the Deputy Chief of the Naval Staff, marking a significant transition in the leadership of the Indian Navy. With a distinguished career spanning over 35 years, Vice Admiral Tarun Sobti brings a wealth of experience and expertise to his new role.
• Vice Admiral Tarun Sobti was commissioned into the Indian Navy on July 1, 1988, embarking on a journey that would see him become a distinguished leader in the maritime domain. He specialized in Navigation and Direction, a critical aspect of naval operations.

Centre extends Amit Agarwal's tenure as CEO of UIDAI for one year

• The central government has extended the tenure of senior IAS officer Amit Agrawal as CEO of the Unique Identification Authority of India (UIDAI) for one year.
• As per an order issued by the Ministry of Personnel, Amit Agrawal, a 1993-batch Indian Administrative Service (IAS) officer of the Chhattisgarh cadre, has been given in extension of his service as the CEO of UIDIA for a period of one year beyond November 2, 2023, to November 2, 2024, or until further orders, whichever is earlier.

 IMPORTANT DAYS

World Animal Welfare Day 2023: 4th October

• World Animal Day, also known as World Animal Welfare Day, is a global initiative celebrated annually on October 4th. This day serves as an International Day of Action, advocating for the rights and welfare of animals. The choice of this date coincides with the feast day of Francis of Assisi, the patron saint of animals. This event unites animal lovers worldwide, raising awareness and fostering a sense of responsibility towards the well-being of animals.
• The theme for World Animal Day 2023, “Great or Small, Love Them All,” emphasizes the importance of acknowledging animals as sentient beings. It underscores the need to elevate global animal care standards and advocates for animal rights universally.

 BANKING AND ECONOMY

PMI manufacturing hits 5-month low at 57.5 in September

• In September, India’s manufacturing sector saw a notable slowdown, reaching a five-month low, as reported by the seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI). This index slipped to 57.5 from 58.6 in August, indicating a deceleration in activity. A PMI reading of 50 represents no change in activity levels.
• While input cost inflation reached its lowest point in over three years, firms raised their output charges at a pace higher than the long-run average. This decision may potentially impact future sales prospects. Firms attributed the price hikes to increased labor costs, optimistic business confidence, and robust demand observed in September.

World Bank retains India’s FY24 GDP growth at 6.3%, cites inflation hurdle

• Despite substantial external challenges, India’s economy remains robust, prompting the World Bank to maintain its growth forecast for the fiscal year 2023-24 at 6.3%. This decision reflects India’s remarkable resilience within a demanding global environment.
• India’s economic resilience is underpinned by key factors, including strong domestic demand, significant public infrastructure investments, and a strengthening financial sector. Notably, bank credit growth has surged to 15.8% in the first quarter of FY23/24, indicating a healthy financial environment.
• India does face challenges due to ongoing global headwinds, including sluggish demand, elevated interest rates, and geopolitical tensions. The World Bank anticipates these challenges to persist and potentially intensify due to factors such as high global interest rates, geopolitical conflicts, and subdued global demand. Consequently, global economic growth is expected to slow down over the medium term.

World bank research paper on karnataka Gram panchayat fund

• Though the Karnataka government has taken many legislative measures to decentralise powers to rural local bodies during the last three decades, fund allocations in gram panchayats (GPs) are most influenced by the elite, according to a research paper of the World Bank. Men and ‘upper’ caste individuals in GPs ensure that their preferences are represented better in allocation of funds, it said.
• “Funding is least representative of the needs of women and Scheduled Castes and this a clear indication of an elite bias in funding allocations in elected GPs of Karnataka,” said the report.