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Daily Current Affairs 6th December 2023: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 6th December2023. It includes all Major National, International, Business and Sports related current affairs of 6th December2023. 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 6th December2023 Current affairs test.

 

National News

1. Projection of India’s Per Capita Income Growth

  • A Standard Chartered Bank report predicts India’s per capita income may grow by 70% to $4,000 by 2030, up from $2,450 currently.
  • This growth could elevate India to a middle-income economy with a $6 trillion GDP, half of which may come from household consumption.
  • India’s per capita GDP has grown from $460 in 2001 to $1,413 in 2011, and $2,150 in 2021.
  • Expansion of external trade, expected to double to $2.1 trillion by 2030, is seen as a key driver of this economic progress.

2. Inauguration of the 20th Annual Conference of the Commonwealth Parliamentary Association, India Region by Om Birla

  • Lok Sabha Speaker Om Birla inaugurated the 20th annual conference of the Commonwealth Parliamentary Association, India Region.
  • The conference focuses on managing natural calamities, especially in the northeast region.
  • Emphasis was on regional cooperation and enhanced connectivity through the Act East policy for economic and social integration in the North East.

Business News Update

1. LIC Stock Surge: LIC’s stock rose by 12.83% in November, the highest monthly gain since its May 2022 debut, crossing the ₹700 mark for the first time in 11 months. This was partly attributed to the new ‘Jeevan Utsav’ product, a nonpar offering with a lifetime income feature. Kotak Institutional Equities notes that LIC’s increased focus on nonpar products aims to boost profit margins.

2. Bharti Airtel’s Market Capitalization Milestone: Bharti Airtel’s market cap exceeded ₹6 lakh crore, joining the elite group of companies like Reliance Industries, TCS, HDFC Bank, ICICI Bank, HUL, Infosys, and ITC. The company’s shares rose 2%, contributing to a 28% increase year-to-date, surpassing the Nifty benchmark.

Upcoming Events and Projects

1. India Internet Governance Forum 2023: Scheduled in New Delhi, the forum will address public policy issues related to the Internet, focusing on securing cyberspace, fostering innovation for India’s development, and shaping the digital future.

2. South Central Railway Electrification: The 64 km Devarkadra-Krishna rail line electrification, part of the Munirabad-Mahabubnagar new railway line project, is complete. This aims to improve connectivity, facilitate bulk commodity transport, and reduce carbon emissions.

Indian Navy Developments

1. Rank Renaming Initiative: Prime Minister Narendra Modi announced the renaming of Indian Navy ranks to better reflect Indian culture during Navy Day celebrations, highlighting the growing role of women in the defense forces and the strategic significance of naval power.

International Contributions and Proposals

1. India’s Role in Organic Products Market: India contributed ₹17,853 crore to the global organic and natural products market over three years. Government initiatives to boost organic product exports have played a significant role in this growth.

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2. India’s Bid to Host 2028 Climate Conference: Prime Minister Narendra Modi proposed India as the potential host for the 2028 climate change conference (COP33), urging nations to prioritize global welfare and fulfill their climate commitments.

3. Pakistan Seeks BRICS Membership: Pakistan applied for BRICS membership in 2024, seeking support from Russia and following the inclusion of countries like Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates.

4. UAE’s ALTÉRRA Investment: The UAE committed $30 billion to ALTÉRRA, a climate-focused investment initiative, aiming to mobilize $250 billion by 2030 for climate action in emerging and developing economies.

Notable Appointments and Corporate Moves

1. UPSC’s New Director: Pradeep Kumar Pal of the Indian Railway Service of Signal Engineers (IRSSE) was appointed Director of the Union Public Service Commission (UPSC).

2. Microsoft’s Strategic Hires: Microsoft hired OpenAI cofounders Sam Altman and Greg Brockman to lead a new advanced AI research division.

Awards and Recognition

1. Madagascar Election Results Upheld: Madagascar’s Constitutional Court validated President Andry Rajoelina’s reelection for a third term with 59% of votes.

2. Oxford’s Word of the Year: “Rizz” was selected as the Oxford Word of the Year for 2023, symbolizing style or charm.

3. Asian Awards Accolades: Asila Mirzayorova and Peng Zheng were honored as top athletes, while Sheetal Devi, the ‘armless archer,’ received the best youth athlete award. The NCRTC received the TAI Tunnelling Award 2023 for environmental initiatives in tunnelling, with Nimisha Singh named “Young Tunneller of the Year.”

4. Jimmy George Award for Murali Sreeshankar: Kerala long jumper Murali Sreeshankar will receive the Jimmy George Award for his achievements, including his performance at the Asian Games 2023.

Sports Rankings and Achievements

1. ATP and WTA Rankings: Novak Djokovic ends the year as ATP No. 1 for the eighth time, while Iga Swiatek retains the WTA No. 1 spot for the second consecutive year.

2. Gautam Adani’s Global Wealth Ranking: Gautam Adani is now the 16th richest person globally, with the Adani Group’s wealth exceeding $70 billion.

Technological Developments and Economic Strategies

1. Google’s Gemini AI Delay: The launch of Google’s advanced AI model Gemini is postponed to 2024, expected to be Google’s most sophisticated AI model to date.

2. RBI’s New Banking Facility for Exporters: The RBI allowed banks to open additional current accounts for export proceeds, providing more flexibility for exporters. This complements the special rupee vostro accounts.

3. Growth in Private General Insurers: Private general insurers increased their market share to 53.58% in gross direct premiums, a 14.86% year-over-year increase, outpacing public sector insurers.

4. Mutual Funds’ Debt Fund Initiative: Mutual funds allocated ₹3,100 crore to the Corporate Debt Market Development Fund (CDMDF), managed by SBI Mutual Fund. Supported by a ₹30,000 crore government contribution, this fund aims to stabilize the corporate debt market in crises.

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