In the last 24 hours, several high-impact developments have occurred across the economic, international, and environmental sectors in India. Below is a curated summary for competitive exam aspirants:
1. RBI Approves Record ₹2.11 Lakh Crore Dividend to Union Government
The Reserve Bank of India (RBI) has approved a ₹2.11 lakh crore dividend payout to the central government for the fiscal year 2023-24. This amount is more than double the dividend paid in the previous year (₹87,416 crore). The decision was finalized during the 608th meeting of the Central Board of Directors, chaired by Governor Shaktikanta Das. This massive surplus transfer is expected to help the government meet its fiscal deficit targets and increase capital expenditure.
2. India Rises to 39th in WEF Travel & Tourism Development Index 2024
India has shown significant progress in the global tourism sector, climbing to the 39th position in the World Economic Forum’s (WEF) Travel & Tourism Development Index 2024. This is a notable jump from its 54th rank in 2021. India remains the highest-ranked country in South Asia and among the lower-middle-income economies, driven by its rich cultural resources and improved price competitiveness.
3. Cabinet Sanctions ₹10,300 Crore for IndiaAI Mission
The Union Cabinet has approved a financial outlay of over ₹10,300 crore for the IndiaAI Mission. This initiative aims to bolster the country’s AI ecosystem through a public-private partnership (PPP) model. Key focus areas include expanding compute infrastructure, supporting AI startups, and developing indigenous AI models. This is a critical move toward establishing India as a global leader in artificial intelligence and ensuring ethical AI deployment.
4. India Assumes Chair of the 'Colombo Process' (2024-26)
For the first time since its inception in 2003, India has assumed the Chair of the Colombo Process. The Colombo Process is a Regional Consultative Process of 11 migrant worker origin countries from South and Southeast Asia. India’s leadership will focus on promoting safe, orderly, and legal migration, and enhancing the protection of migrant workers' rights.
5. International Day for Biological Diversity 2024
Observed annually on May 22, the International Day for Biological Diversity was celebrated with the theme "Be Part of the Plan." This year’s theme emphasizes the implementation of the Kunming-Montreal Global Biodiversity Framework (The Biodiversity Plan) to halt and reverse the loss of biodiversity.
6. DAHD and UNDP Partner for Digitalizing Animal Vaccine Cold Chain
The Department of Animal Husbandry and Dairying (DAHD) signed a Memorandum of Understanding (MoU) with the United Nations Development Programme (UNDP) India. The partnership aims to digitalize the animal vaccine cold chain management and enhance communication planning to improve livestock health across the nation.
Note: Aspirants are advised to track the fiscal implications of the RBI dividend and the specific pillars of the WEF Index for upcoming mains and interview stages.