Current Affairs | National | International | SSC | UPSC 1st October 2024

 

1. Maharashtra government declared the indigenous cow as ‘Rajya Mata’. 

• The Maharashtra government conferred the title of ‘Rajya Mata’ to indigenous cows. It will help in the welfare of cows. 
• Maharashtra Chief Minister Eknath Shinde also announced a subsidy scheme with Rs 50 per day for the rearing of cows in ‘goshalas’. 
• This initiative will be implemented by the Maharashtra Goseva Commission. 
• Its main aim is to reverse the declining population of indigenous cows, which has decreased by 20.69 per cent as per the 2019 census.
• Each district will have a District Goshala Verification Committee. The scheme will be implemented online by the Goseva Commission. 
• The state government also approved an interest-free secondary loan assistance to MMRDA. 
• Maharashtra legislative Assembly elections will be held soon in 288 constituencies. 

2. Cruise Bharat Mission has been launched by Union Minister of Ports, Shipping & Waterways Sarbananda Sonowal from the Mumbai port. 

• With the help of the Cruise Bharat Mission, India aims to realise its dream of being the world's premier cruise destination and a hub for cruise tourism. 
• According to Union Minister Sonowal, the mission's goal is to double the number of passengers on cruise ships by 2029 in order to boost the nation's cruise tourism sector. 
• He further said that the government is dedicated to maximising the enormous potential of India's Blue Economy. 
• The launch event was also attended by the Union Minister of State, Shantanu Thakur. 
• According to Mr. Shantanu Thakur, Cruise Bharat is a visionary initiative. 

3. SEBI held its board meeting on 30 September 2024. 

• It has approved important initiatives to streamline mutual fund industry standards and facilitate trading for regular investors. 
• Asset management businesses can now offer riskier strategies, like long-short equities, to high-risk investors with a minimum investment of ₹10 lakh. 
• "MF Lite" a relaxed framework with few requirements has been introduced by SEBI. 
• It is intended for firms wanting to launch only passive mutual fund schemes. 
• The MF Lite framework, often known as light-touch regulations, has relaxed rules on sponsors' eligibility requirements.
• The period for rights issues has been cut by SEBI to 23 days. 
• In order to facilitate faster rights issues via the preferential allotment route, SEBI has adopted standards. 
• Instead of the current timeline of 317 days, this alternative route can be completed in 23 days after the issuer's board meeting approving the rights issue. 
• The 40 working days required to finish the preferential allotment can be accomplished more quickly by taking this new method. 
• The present requirement of filing a draft letter of rights offer with SEBI of its observation has been discontinued by SEBI. 
• Since the entity is already listed, it will instead be filed with stock exchanges for their in-principle approval. 
• Under the guidelines pertaining to insider trading, SEBI broadened the definitions of "connected person" and "immediate relative." 
• The definition of "relative" now includes the person's spouse, child, parent, and sibling. 
• Investors will be required to have the opportunity to trade in the cash part of the secondary market through a UPI block method, provided by qualified stock brokers. 
• Additionally, SEBI relaxed the requirements for registration eligibility and streamlined the compliance standards for Research Analysts (RAs) and Investment Advisers (IAs). 

4. International Day of Older Persons: 1 October 

• International Day of Older Persons is celebrated every year on 01 October. 
• On 14 December 1990, the UN General Assembly adopted a resolution to designate 1 October as the International Day of Older Persons. 
• The International Day of Older Persons was observed for the first time on October 1, 1991. 
• This day highlights the contributions of older people to society and raises awareness about the opportunities and challenges of aging in the present century. 
• United Nations Principles for Older Persons were adopted by the General Assembly in 1991. 
• The theme of this year’s International Day of Older Persons is "Ageing with Dignity: The Importance of Strengthening Care and Support Systems for Older Persons Worldwide". 

5. Anti-dumping investigation initiated by India on some steel imports from China. 

• According to a recent notification issued by the central government, the Government of India has officially initiated an anti-dumping investigation regarding the import of cold rolled non-oriented electrical steel from China. 
• POSCO Maharashtra Steel Private Limited and CSCI Steel Corporation India Private Limited filed the application for investigation on behalf of the domestic steel industry. 
• According to the Directorate General of Foreign Trade, the applicants have reportedly claimed that the imported steel is being sold at dumping rates, causing serious injury to the domestic industry. 
• The applicants have expressed concern over the imminent threat of material injury to domestic producers due to these dumped imports. 
• Anti-dumping duty acts as a protective measure, designed to balance the price difference between imported goods sold at less than the normal market price and the domestic products of the importing country. 
• The current investigation focuses on Cold Rolled Non-Oriented Electrical Steel (CRNO), a type of cold rolled flat steel product used in a variety of applications, including iron core materials for power generators and electric motors. 
• According to notification, the parties involved in the application have to submit their comments within 15 days of the commencement of the investigation. 

6. An agreement signed by Department of Social Justice with NALSA to create awareness on social welfare schemes. 

• On 30 September, an agreement signed by the Department of Social Justice and Empowerment (DoSJE) with the National Legal Services Authority (NALSA) in New Delhi. 
• This important partnership is aimed at increasing public awareness about various Acts, Rules and Schemes of the Department, especially those enacted to provide relief to the marginalized and vulnerable sections of the society. 
• NALSA, constituted under the Legal Services Authorities Act, 1987, aims to provide legal aid to disadvantaged groups and spread legal literacy. 
• Under this MoU, a series of campaigns, seminars and events will be organized to increase the reach and impact of social welfare schemes for vulnerable communities across India. 
• During the event, the SARTHIE 1.0 initiative was also officially launched. 
• The initiative is a joint effort to empower disadvantaged communities including Scheduled Castes (SC), Other Backward Classes (OBC), senior citizens, transgender persons, victims of alcohol and substance abuse, beggars, denotified and nomadic tribes, etc. 
• The SARTHIE 1.0 initiative is also in line with the United Nations’ 2030 Agenda for Sustainable Development, particularly the goals focused on eradicating poverty, reducing inequality and promoting social protection policies that ensure greater equality for all. 

7. India will participate in Euronaval 2024 Defence Exhibition in France. 

• India is one of the 104 countries that have been invited to attend the world’s largest naval defence trade show.
• World’s largest naval defence trade show will be held in Paris from 4-7 November. 
• The event will focus on innovation, sovereignty and international cooperation. 
• During Euronaval 2024, the strategic and industrial challenges will be discussed. 

8. India’s core sector output declined by 1.8% in August 2024. 

• The Index of Eight Core Industries (ICI) has seen a 1.8% decline in August 2024. 
• This decline was caused by negative growth in coal, crude oil, natural gas, petroleum refinery products, cement, and electricity production. 
• Steel and fertilizers have recorded an increase in output during August 2024. 
• The cumulative growth rate of the Eight Core Industries was 4.6% from April to August 2024-25. 
• The Index of Eight Core Industries (ICI) tracks the combined and individual performance of eight core industries. 
• The contribution of eight core industries to the Index of Industrial Production (IIP) is 40.27%. 
• Coal production and crude oil production saw an 8.1 percent and 3.4 percent decrease, respectively, in August 2024 compared to August 2023. 
• Natural gas production dropped by 3.6 percent in August 2024 and petroleum refinery products saw a 1.0 percent decrease in August 2024. 
• Fertilizer production and steel production grew by 3.2 percent and 4.5 percent in August 2024. 
• Cement production saw a 3.0 percent decline in August 2024 and electricity generation declined by 5.0 percent in August 2024. 

9. Union Minister Prataprao Jadhav inaugurated the Ayush Medical Value Travel Summit 2024. 

• The theme of this summit is ‘Global Synergy in Ayush: Transforming Health and Wellness through Medical Value Travel’. 
• It has been organized by the Ministry of Ayush, Government of India, in collaboration with the Ministry of Tourism, the Government of Maharashtra, and key partners. 
• It provided a platform for stakeholders, including government officials, wellness centres, etc., to discuss the future of Ayush-based healthcare and Medical Value Travel. 
• The first Medical Value Travel Summit 2024 in Mumbai will be followed by events in Bhubaneswar and a grand finale in Delhi. 
• This will target one crore households with campaign 'Desh ka Prakrutik Parikshan—Ghar Ghar tak Ayurved on the occasion of Ayurveda Day." 
• As per the analysis, the Ayush sector has grown from $3 million in 2014 to $18.1 million in 2020—an increase of sixfold within six years. 
• The main aim of the summit is to strengthen India's position in Medical Value Travel (MVT) by integrating traditional Indian systems of medicine—Ayurveda, Yoga, Unani, Siddha, and Homeopathy (Ayush)—with modern healthcare systems. 

10. 8th edition of the KAZIND-2024 Joint Military Exercise commenced in Auli, Uttarakhand. 

• The military exercise KAZIND-2024 between India and Kazakhstan is scheduled to be conducted from 30th September to 13th October 2024. 
• 120 personnel of the KUMAON Regiment battalion are taking part in this exercise. 
• The Kazakhstan contingent is being represented mainly by personnel from land forces and airborne assault troops. 
• The main aim of the exercise is to enhance the joint military capability of both sides to undertake counterterrorism operations in a sub-conventional scenario under Chapter VII of the United Nations Charter. 
• It will focus on operations in the semi-urban and mountainous terrain. It will enable both sides to share best practices in tactics, techniques, and procedures for conducting joint operations. 
• It will facilitate the development of inter-operability, bonhomie and camaraderie between the two armies. 

11. The 6th India-USA Commercial Dialogue meeting will be co-chaired by Piyush Goyal in Washington, D.C., with Ms. Gina Raimondo. 

• Shri Piyush Goyal, Union Minister of Commerce and Industry, Government of India, is on a visit to the United States of America from September 30 to October 3, 2024 at the invitation of Ms Gina Raimondo, Secretary of Commerce of the United States of America. 
• Shri Piyush Goyal will co-chair the India-US CEO Forum with Secretary Raimondo on October 2, 2024 and the 6th India-US Commercial Dialogue on October 3, 2024 in Washington DC. 
• During this, the two sides will discuss ways to generate sustainable economic growth, further improve the business and investment climate, and deepen ties between the Indian and US business communities. 
• Union Minister Goyal will interact with leading American and Indian CEOs and captains of industry and discuss the vast investment opportunities in India. 
• Both countries are negotiating an MoU aimed at enhancing bilateral cooperation to expand and diversify essential critical mineral supply chains and leverage their complementary strengths. 

12. PM Modi dedicated the Bidkin Industrial Area to the nation. 

• Prime Minister Narendra Modi dedicated the Bidkin Industrial Area (BIA) in Maharashtra to the nation. 
• The Bidkin Industrial Area has been developed under the National Industrial Corridor Development Programme as part of the Delhi-Mumbai Industrial Corridor. 
• The Maharashtra Industrial Township Limited (MITL) is a special-purpose vehicle formed with a 51:49 partnership. 
• It has been formed in collaboration of the Maharashtra Industrial Development Corporation (MIDC) and National Industrial Corridor Development and Implementation Trust (NICDIT). 
• This industrial hub holds immense potential to catalyse economic growth in the Marathwada region. 
• It has been prioritised with an investment of Rs 2,427 crore. 

13. PM Modi unveils projects worth ₹ 11,200 crore In Maharashtra 

• Prime Minister Narendra Modi inaugurated and laid the foundation stone of various projects of ₹ 11,200 crore in Maharashtra via video conference. 
• Prime Minister Modi virtually inaugurated the Pune Metro section from District Court to Swargate, which also marks the completion of the Pune Metro Rail Project (Phase-1). 
• The cost of the underground section between the District Court to Swargate is around ₹ 1,810 crore.
• PM Modi also laid the foundation stone for the Swargate-Katraj extension of the Pune Metro Phase-1 to be developed at the cost of around ₹ 2,955 crore. 
• This southern extension of 5.46 km is completely underground with three stations, namely Market Yard, Padmavati and Katraj. 
• PM Modi also inaugurated Bidkin Industrial Area, a transformative project covering an expansive 7,855 acres under the National Industrial Corridor Development Program, situated 20 km south of Chhatrapati Sambhajinagar in Maharashtra. 
• The central government has approved this project with an overall project cost of more than ₹ 6,400 crore for development in three phases. 
• PM Modi also inaugurated the Solapur Airport, which would significantly improve connectivity, making Solapur more accessible to tourists, business travellers, and investors. 
• The existing terminal building of Solapur has been revamped to serve nearly 4.1 lakh passengers annually. 
• PM Modi also laid the foundation stone for the memorial of Krantijyoti Savitribai Phule’s first girls’ school at Bhidewada. 

14. Indian Newspaper Society has elected M.V. Shreyams Kumar of Mathrubhumi as President for 2024-2025. 

• M V Shreyams Kumar of Mathrubhumi has been elected as President of The Indian Newspaper Society (INS). 
• Indian Newspaper Society is the apex body of publishers of newspapers, magazines and periodicals in India. 
• He will take the place of Rakesh Sharma of Aaj Samaj. 
• Vivek Gupta of Sanmarg has been elected the Deputy President and Karan Rajendra Darda of Lokmat as the Vice President. 
• Indian Newspaper Society was established in 1939 and its headquarters are located in Rafi Marg, New Delhi. 

15. PM Modi launches PARAM Rudra Supercomputers 

• Prime Minister Narendra Modi dedicated three PARAM Rudra supercomputers and two high-performance computing systems to the nation. 
• These Computing systems were developed and manufactured indigenously under the National Supercomputer Mission and in line with the Make in India initiative. 
• The three supercomputers have been deployed in Pune, Delhi, and Kolkata to support cutting-edge scientific research. 
• Pune’s Giant Metre Radio Telescope (GMRT) will use the supercomputer to study Fast Radio Bursts (FRBs) and other astronomical events. 
• In Delhi, the Inter-University Accelerator Centre (IUAC) will advance research in material science and atomic physics. 
• Meanwhile, the S.N. Bose Centre in Kolkata will lead advanced studies in physics, cosmology, and earth sciences. 

16. What is PARAM RUDRA SUPERCOMPUTER? 

• Param Rudra, named after the fierce avatar of Lord Shiva, is designed to tackle complex computational challenges across various scientific and engineering domains. 
• Three Param Rudra supercomputers have been developed at Rs 130 crores, indigenously under the National Supercomputing Mission. 
• PARAM Rudra Supercomputers 
• It is based on the indigenous Rudra server developed by C-DAC and has a computing speed of one petaflops (1015 operations per second). 
• C-DAC, under the Union Ministry of Electronics & Information Technology (MeiTY), started developing a High-Performance computing system in the country in 1988 and has developed a series of supercomputers called the PARAM series. 

17. Om Birla inaugurated the 21st CPA Zone III India Region Conference 

• Lok Sabha Speaker Om Birla has inaugurated the 21st Commonwealth Parliamentary Association (CPA) Zone III Conference at Aizawl, Mizoram.  The conference, which was held at the Mizoram Legislative Assembly Complex in Aizawl, was intended to deepen the democratic process in the country’s Northeastern region.
• Theme – Democratic Sanctity, Transparency, Accountability, and Results from Democracy.
• The conference aims to foster collaboration and dialogue among the Northeastern state legislatures, focusing on addressing regional challenges through democratic means. 

18. Pralhad Joshi inaugurates 2nd India Sugar & Bio-Energy Conference 

• Union Minister for Consumer Affairs, Food and Public Distribution & New & Renewable Energy, Pralhad Joshi has inaugurated the 2nd India Sugar & Bio-Energy Conference in New Delhi. 
• The conference brings together policymakers, industry leaders, researchers, and stakeholders to encourage dialogue, innovation, and collaboration for sustainable growth and development of the sugar and bio-energy industries. Bioenergy refers to the use of sugarcane to produce energy. Ethanol, derived from molasses, is blended with petrol to run petrol-driven vehicles. Molasses is a by-product produced during the production of sugar from sugarcane. 

19. President inaugurates the 8th Kala Mahotsav 

• President Droupadi Murmu has inaugurated the 8th Bhartiya Kala Mahotsav, focussed on the North-Eastern states at the Rashtrapati Nilayam, Secunderabad, Telangana. 
• The eight-day-long Bhartiya Kala Mahotsav will be open to the public from 29 September to 6 October 2024. 
• The 8th Bharatiya Kala Mahotsav, focussed on the North Eastern states, is being organised by the Union Ministry for Development of the North Eastern Region in association with the Union Ministry of Culture. 
• The Mahotsav will showcase the art, culture, crafts, and culinary diversity of the North-Eastern states of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, and Tripura. 
• More than 300 artists and artisans from these states will be participating in the event at the Main Lawns of Rashtrapati Nilayam, the winter home of the President. 

20. PM Modi dedicates Bidkin Industrial Area of DMIC to nation 

• Prime Minister Narendra Modi virtually dedicated the Bidkin Industrial Area in Maharashtra to the nation. 
• The Bilkin Industrial Area, situated 20 km south of Chhatrapati Sambhaji Nagar, is part of the Delhi-Mumbai Industrial Corridor (DMIC). 
• The project is part of the central government’s “Make in India, Make for the World” programme, which aims to foster industrial growth, economic prosperity, and sustainable development in the region. 
• The government of India launched the Make in India programme on 25 September 2015, and it has been in operation for 10 years. 
• About Bidkin Industrial Area 
• The Bidkin Industrial Area covers 7,855 acres and was developed in three phases for Rs 6,414 crore. 
• The project has been developed under the National Industrial Corridor Development Programme (NICDP) as part of the Delhi-Mumbai Industrial Corridor. 

21. National Centre of Excellence for AVGC-XR to be set up in Mumbai 

• The Government of India has approved the establishment of a National Centre of Excellence (NCoE) for Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) in the country. 
• The proposed NCoE will be in Mumbai, Maharashtra, the hub of the Indian film industry. 
• The NCoE is being set up on the recommendation of the Task Force on Animation, Visual Effects, Gaming, and Comics in 2022. 
• The government of India set up a Task Force on Animation, Visual Effects, Gaming, and Comics (AVGC) in 2022, headed by the then Secretary of the Ministry of Information & Broadcasting. Apurva Chandra. 
• The Task Force was established after the Union Minister for Finance, Nirmala Sitharaman, announced the establishment of a task force on Animation, Visual Effects, Gaming, and Comics in her budget speech for 2022-23. 
• The Task Force recommended creating a National AVGC-XR (Extended Reality) Mission with a budget outlay for the integrated promotion and growth of the AVGC sector. 

22. 1 October – International Day of Older Persons 

• International Day of Older Persons is observed every year on 1 October. 
• Objective- To raise public awareness about the opportunities and challenges presented to the ageing populations and to mobilize families, community groups and stakeholders to address the difficulties faced by older people. 
• Theme 2024 – Ageing with Dignity: The Importance of Strengthening Care and Support Systems for Older Persons Worldwide 
• On December 14, 1990, the UN General Assembly made October 1 as the International Day of Older Persons. The International Day of Older Persons was observed for the first time on October 1, 1991. 

23. Maggie Smith, acting legend of ‘Harry Potter’ and ‘Downton Abbey’ fame, dies 

• Maggie Smith, the two-time Oscar-winning actor best known for playing the stern Professor McGonagall in the “Harry Potter” movie franchise and the tart-tongued Dowager Countess on “Downton Abbey,” died at the age of 89. 
• She won Academy Awards for her performances in “The Prime of Miss Jean Brodie” (1969) and “California Suite” (1978). She earned four Emmy Awards. 

24. Contrary to criticism, industrial sector is growing at a fast pace: NITI Aayog CEO 

• India's industrial sector is growing at a fast pace, NITI Aayog CEO B.V.R. Subrahmanyam said on Monday while releasing the Annual Survey of Industries. 
• The report was released by the Ministry of Statistics and Programme Implementation for the financial year 2022-23. Mr. Subrahmanyam said contrary to the criticism against the Centre, the manufacturing sector was growing at a fast pace and providing jobs. "We have added 22 lakh jobs in 2022-23," he said. 
• The report said the Gross Value Added (GVA) grew by 7.3% in current prices in 2022-23 over 2021- 22. 
• "Increase in input was 24.4%, while output grew by 21.5% in the sector in 2022-23 over 2021-22," the report said. 
• The year 2022-23 witnessed a growth in the industrial sector for the majority of the important economic parameters like invested capital, input, output, GVA, employment, and wages, and even surpassed the pre-pandemic level in absolute value terms. Asked about the recent Periodic Labour Force Survey (PLFS) results that cited stagnation in labour force in the manufacturing sector, Mr. Subrahmanyam said the PLFS also looked at the agriculture sector, including food processing sectors. 
• "PLFS is across the sectors. Contract labour is stagnant. This survey largely covers small and medium sectors," he said. 
• According to the survey, the main drivers of this growth in 2022-23 were industries like manufacture of basic metal, coke and refined petroleum products, food products, chemical and chemical products, and motor vehicles. 
• "These industries, taken together, contributed about 58% of the total out- put of the sector and showed output growth of 24.5% and GVA growth of 2.6% in comparison to 2021-22," the government said. The estimated number of persons engaged in this sector in 2022-23 has exceeded the pre-pandemic level by more than 22.14 lakh. 
• "Average emoluments also registered an increase over previous year. Average emoluments per person engaged in this sector had gone up by 6.3% in 2022-23 in comparison to 2021-22," the report said. 
• Among the major States, in terms of GVA, Maharashtra ranked first in 2022-23, followed by Gujarat, Tamil Nadu, Karnataka, and Uttar Pradesh. "The top five States taken together contributed more than 54% of the total manufacturing GVA of the country. 
• The top five States employing the highest number of persons in this sector were Tamil Nadu, Maharashtra, Gujarat, Uttar Pradesh and Karnataka in ASI 2022-23. These States contributed about 55% of total manufacturing employment," the report added. 

25. Release 10 cr. to AIIMS, Delhi HC tells Centre 

• The Delhi High Court has refused to recall its order directing the Centre to release ₹10 crore to the AIIMS here to continue the treatment of 18 patients suffering from rare diseases. Justice Prathiba M. Singh said discontinuation of the treatment would have a negative repercussion on the patients' health. 
• "Under such circumstances, withholding the treatment of these 18 patients would be completely unjust and contrary to law, as the same would have a debilitating effect on their general living condition and health," Justice Singh said. The court said in its September 27 order if the amount was not released within three working days, the Joint Secretary of the Union Health Ministry would have to be present in the court on the next date of the hearing. 
• The Centre had sought to recall the September 13 order by which it was directed to release ₹10 crore to AIIMS, Delhi to continue the treatment. 

26. Mithun Chakraborty to get Dadasaheb Phalke Award 

• Veteran actor Mithun Chakraborty was on Monday named recipient of the Dadasaheb Phalke Award, the government's highest recognition in the field of cinema, for the year 2022. It will be presented during the 70th National Film Awards ceremony on October 8. 
• Union Minister for Information and Broadcasting Ashwini Vaishnaw made the announcement on X. 
• The Minister said Mr. Chakraborty's journey from a young man with humble beginnings to a celebrated film icon embodied the spirit of hope and perseverance, proving that, with passion and dedication, one can achieve even the most ambitious dreams. His dedication and hard work have made him a role model for aspiring actors and artists, he said. 
• Congratulating Mr. Chakraborty, who is also a member of the Bharatiya Janata Party, Prime Minister Narendra Modi said the actor was a "cultural icon" admired by generations. across 
• "Delighted that Shri Mithun Chakraborty Ji has been conferred the prestigious Dadasaheb Phalke Award, recognising his unparalleled contributions to Indian cinema. He is a cultural icon, admired acrosS generations for his versa- tile performances," Mr. Modi said in a post on X. 
• Mr. Chakraborty bagged the National Film Awardfor Best Actor in his first film, Mrigayaa (1976). An alumnus of the prestigious Film and Television Institute of India, Mr. Chakraborty's portrayal of a Santhal rebel in the film by Mrinal Sen earned him national accolades. 
• He gained significant popularity in the 1980s with his role in Disco Dancer (1982), a film that became a major success both in India and internationally, establishing him as a dancing sensation. 
• His performance in Agneepath also won him theFilmfare Award for Best Supporting Actor in 1990. 
• Later, he won two more National Film Awards for his work in Tahader Katha (1992) and Swami Vivekananda (1998). 
• "Over his extensive career, Mithun has acted in more than 350 films across various Indian languages, including Hindi, Bengali, Odia, Bhojpuri, and Telugu. He is known for his diverse performances, ranging from action to drama and comedy, and has won several awards," the Ministry said"The Union Minister emphasised that Mithun Da is not only celebrated for his cinematic achievements but also for his dedication to social causes. He has been actively involved in various charitable initiatives aimed at education, healthcare, and supporting underprivileged communities, reflecting his commitment to giving back to society," it said. 
• He was recently conferred the Padma Bhushan. 

27. Value of MoUs signed under Rajasthan global summit swells to ₹12.50 lakh crore 

• The total value of memoranda of understanding (MoUs) signed for investments in Rajasthan under the upcoming Global Investment Summit 2024 swelled to ₹12.50 lakh crore, with new agreements worth ₹8 lakh crore inked in New Delhi on Monday. An investors' meet for the 'Rising Rajasthan' summit, scheduled for December, was held in the national capital. 
• A large number of industrial groups and companies signed the MoUs with the State government's Bureau of Investment Promotion (BIP) in the presence of Chief Minister Bhajan Lal Sharma, Industries Minister Rajyavardhan Singh Rathore and Chief Secretary Sudhansh Pant. 
• The investors' meet witnessed the congregation of leading business leaders and industry groups. 
• Addressing the gathering, Mr. Sharma said Rajasthan at present stood at the "cusp of a transformative era", while embracing a new vision for growth and prosperity. "The State government's focus is not just on signing MoUs for the investment intentions, but to realise them into projects on the ground," he said. 
• Mr. Sharma said his government had set an ambi- tious goal of doubling the State's economy from $180 billion to $350 billion in the next five years. "We wish to build a sustainable future for the generations to come. Our commitment is reflected in the initiatives designed to attract investment, boost local production, and empower our people," he said. 
• Referring to the investor centric approach, the Chief Minister said the State government's focus was on facilitating and supporting the businesses with its proactive policies, streamlined processes, reduced compliance burdens, and fostered transparency. Besides, the industrial land acquisition and development was simplified and initiatives like the private industrial park scheme and the land aggregation and monetisation policy were being rolled out. 
• The MoUs were signed across a range of sectors such as renewable energy, power transmissions, oil and gas, compressed natural gas, logistics, cement and agricultural technology. The State government's delegation led by Mr. Sharma will interact with the ambassadors and diplomats from several countries on Tuesday to seek their support for investments. 
• The investors' summit, to be organised here from December 9 to 11, is expected to attract and facilitate global investments, innovations and partnerships in the State.