1) National Broadcasting Day 2022 celebrates on 23rd July
•National Broadcasting Day is observed on July 23 in India. The day aims to remind Indian citizens about the impact of radio on our lives. Akashvani or All India Radio (AIR) is India’s homegrown national radio broadcasting service which reaches millions of homes across the nation. AIR is a division of Prasar Bharati which was previously under government control but is an autonomous body now, set up by an Act of parliament.
2) Aaykar Diwas or Income Tax Day celebrates by CBDT on July 24
•The Central Board of Direct Taxes (CBDT) observed the 162nd Income Tax Day (also known as Aaykar Diwas) on 24 July 2022. The purpose of this tax was to compensate for the losses incurred by the British regime during the first war of independence against British Rule in 1857. The day was first celebrated in 2010.
•On 24 July 1980, Income Tax was introduced for the first time in India by Sir James Wilson. The purpose of this tax was to compensate for the losses incurred by the British regime during the first war of independence against British Rule in 1857.
3) PM Narendra Modi unveils India’s first Passenger Drone “Varuna”
•Prime Minister Narendra Modi has unveiled Varuna, India’s first passenger drone. PM Modi is seen watching the demonstration of the drone. Prime Minister Narendra Modi asserted that the current government has ensured last-mile delivery of services with the help of technology, including drones. The Prime Minister was there to address the Naval Innovation and Indigenisation Organisation (NIIO) seminar ‘Swavlamban’ which took place at Dr Ambedkar International Centre in New Delhi.
4) NITI Aayog: India’s R&D expenditures one of the lowest worldwide
•According to a report by the government think tank NITI Aayog and the Institute for Competitiveness, India has among of the lowest R&D expenditures worldwide. In fact, R&D spending in India has decreased, falling from 0.8 percent of GDP in 2008-09 to 0.7 percent in 2017-18. According to data, India has a lower GERD than the other BRICS countries. Spending amounts for Brazil, Russia, China, and South Africa are respectively 1.2 percent, 1.1 percent, over 2 percent, and 0.8 percent. Around 1.8 percent is the global average.
5) WHO Report: India was top remittance recipient in 2021 receiving $87 billion
•India was the top recipient country for remittances inflows in 2021, in current US dollars, among the low and middle-income countries, according to a report released by World Health Organisation. India received remittances worth US$ 87 billion in 2021, as per the “first World report on the health of refugees and migrants”.
6) Dinesh Gunawardena sworn in as the 15th Prime Minister of Sri Lanka
•Senior politician, Dinesh Gunawardena has been appointed as the new and 15th Prime Minister of Sri Lanka, by President Ranil Wickremesinghe. He succeeds former prime minister Ranil Wickremesinghe, who has been sworn in as the country’s 9th president. Gunawardena, parliamentarian of the Sri Lanka Podujana Peramuna (SLPP) party, took his oath in the capital Colombo in the presence of other senior legislators.
•Gunawardena had been appointed Home Minister in April by then President Gotabaya Rajapaksa. With Gotabaya fleeing the country and resigning from his position, earlier prime minister Ranil Wickremesinghe was sworn in as the eighth President of Sri Lanka on July 21.
7) Report titled “Digital Banks” released by NITI Aayog
•The “Digital Banks” paper from NITI Aayog presents a rationale for a licencing and regulatory framework for digital banks as well as a template and a path for implementing it. It focuses on preventing any regulatory or policy arbitrage and provides both incumbents and challengers with an even playing field. In front of other officials, the report was released by Suman Bery, CEO of NITI Aayog, Parameswaran Iyer, Senior Advisor Anna Roy.
•This paper examines the current gaps, the neglected niches, and the global regulatory best practises for licencing digital banks because it is crucial to properly use technology to meet India’s banking demands.
8) India’s bioeconomy likely to reach $300 billion by 2030
•By 2025 and 2030, India’s bioeconomy is predicted to reach $150 billion and $300 billion, respectively. The Biotechnology Industry Research Assistance Council (BIRAC) released the India BioEconomy Report 2022 based on information about the economic contribution of the biotech sector. According to the analysis, the nation’s bioeconomy reached over USD 80 billion in 2021, representing an increase of 14.1% over USD 70.2 billion in 2020. It claimed that India would add USD 80.12 billion in bioeconomy in 2021, producing USD 219 million daily.
