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Daily Current Affairs 1st February 2024: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 1st February2024. It includes all Major National, International, Business and Sports related current affairs of 1st February2024. A brief explanation of every current affair is provided to further enhance your general knowledge. Once you have gone through these current affairs we would recommend to you to try 1st February2024 Current affairs test.

 

International Developments

1. Expansion of the BRICS Alliance

  • On the first day of January, the BRICS consortium expanded its membership by welcoming five new countries: Saudi Arabia, Egypt, the United Arab Emirates, Iran, and Ethiopia, transforming BRICS into a ten-nation alliance and significantly enhancing its global economic and demographic stature.
  • Originally slated for announcement at the 15th BRICS summit in Johannesburg, South Africa, in August 2023, this strategic expansion not only bolsters the consortium’s global influence but also introduces new challenges for its future governance and cohesion.
  • Despite receiving an invitation, Argentina opted out of joining the expanded alliance in December, citing unspecified reasons.

 

National News

2. Leadership Transition in Jharkhand

  • Champai Soren is set to become the Chief Minister of Jharkhand, succeeding Hemant Soren. With a political career dating back to 1991, Champai Soren has played a significant role in Jharkhand’s political landscape, earning the nickname ‘Jharkhand Tiger’ among his supporters.

3. Inauguration of IIT Indore’s Satellite Campus

  • The Indian government has approved the establishment of a new satellite campus for IIT Indore in Ujjain, Madhya Pradesh. Spanning 100 acres, this initiative aims to enhance higher education and research, fostering an ecosystem of innovation and academic excellence.

4. Tamil Nadu’s Environmental Recognition

  • Tamil Nadu has been recognized for having the highest number of Ramsar sites in India, with the inclusion of the Longwood Shola Reserve Forest and the Karaivetti Bird Sanctuary, bringing the state’s total to 16 Ramsar sites.

5. Legislative Reforms in Assam

  • The Assam Cabinet, led by Chief Minister Himanta Biswa Sarma, has passed the Assam Tourism Development and Registration Bill 2024 and amendments to the Mising Autonomous Council Bill 2024, aimed at boosting tourism and enhancing representation within the autonomous council.

 

Defence and Security

6. Delhi’s Beating Retreat Ceremony

  • The Beating Retreat ceremony, a tradition dating back to the 1950s, marks the end of Republic Day festivities in Delhi, showcasing the military prowess and discipline of India’s armed forces.

7. Commissioning of INS Sandhayak

  • INS Sandhayak, built by GRSE Kolkata with an 80% indigenous design, is set to be commissioned on February 3 in Visakhapatnam, enhancing the Indian Navy’s capabilities in naval mapping and surveillance.

8. Historic Promotion in the Indian Army

  • Havildar Preeti Rajak has been promoted to Subedar, becoming the first woman to achieve this rank in the Indian Army, highlighting the progress towards gender equality within the military.

 

Economic News

9. Insights from the Interim Budget Speech by Nirmala Sitharaman

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  • The Finance Minister’s interim budget speech underscored the government’s vision for economic growth, focusing on inclusive growth and sustainable development under Prime Minister Narendra Modi’s leadership.

10. Union Budget 2024-25: A Strategic Outlook

  • The Union Budget for 2024-25 emphasizes increased infrastructure investment, reflecting the government’s strategy to stimulate economic growth and improve national infrastructure.

11. Analyzing Interim vs. Full Budgets

  • The distinction between interim and full budgets is crucial for understanding India’s fiscal management, especially in the context of upcoming Lok Sabha elections.

12. Surge in GST Collections

  • January saw a significant increase in GST revenue collections, marking the second-highest collection in the history of the tax regime and indicating robust economic activity.

13. Deceleration in Core Sector Growth

  • The core sector experienced a slowdown in growth in December, reaching a 14-month low, yet output levels remain above pre-Covid benchmarks, offering insights into the sector’s performance amidst economic fluctuations.

 

Banking and Business Updates

14. Regulatory Measures on Paytm Payments Bank

  • The Reserve Bank of India has imposedrestrictions on Paytm Payments Bank, affecting its customer deposit and transaction capabilities, as part of oversight measures to maintain financial stability.

15. Innovative Startup Festival in Mangalore

  • Mangalore is preparing to host a beachside startup festival from February 16th to 18th, aiming to foster innovation and entrepreneurship among startups and students in a dynamic coastal setting.

 

Special Observances and Achievements

16. Celebration of Indian Coast Guard Day 2024

  • February 1st commemorated the 48th Raising Day of the Indian Coast Guard, honoring the dedication and efforts of Coast Guard personnel in protecting maritime interests and borders.

17. British Honors for Indian Scientists

  • The Blavatnik Awards in London will honor Indian scientists Rahul R Nair, Mehul Malik, and Tanmay Bharat for their significant contributions to scientific research, emphasizing the importance of international collaboration in science.
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