Cabinet Approves IndiaAI Mission with ____

Daily Current Affairs

Cabinet Approves IndiaAI Mission with _____ Crore Budget

Rs. 9,457

Rs. 9,768

Rs. 10,072

Rs. 10,372

Correct Answer : Rs. 10,372

The Indian Cabinet, led by Prime Minister Shri Narendra Modi, has greenlit the ambitious IndiaAI mission, allocating a substantial budget of Rs. 10,371.92 crore. This initiative aligns with the vision of bolstering AI innovation within India and leveraging AI for the nation’s advancement. The mission aims to establish a robust AI ecosystem through a strategic public-private partnership approach.

Establishment of India AI Innovation Centre (IAIC) :

* IAIC will serve as a premier academic institution, facilitating efficient implementation and retention of top research talent.
* Focus on developing and deploying foundational AI models, particularly emphasizing indigenous Large Multimodal Models (LMMs) and domain-specific models.
* Leveraging edge and distributed computing to optimize efficiency.

Enhancing AI Startup Financing Mechanism :

* Provision of funds to fortify the India AI Startup Financing mechanism, easing access to funding for budding AI startups.
* Catalyzing the journey of startups from product development to commercialization.

National Data Management Office Setup :

* Coordination with government departments and ministries to enhance data quality and availability for AI development and deployment.
* Aims to streamline data management processes to support AI initiatives effectively.

Scaling AI Computing Infrastructure :

* Proposal includes setting up best-in-class AI computing infrastructure at five locations.
* Targeting 3,000 AI Petaflops computing power, significantly surpassing current capacities.
* Inference Farm (2,500 AI PF) and Edge Compute (500 AI PF) systems to be established.

Published On : March 8, 2024

Solar’s Ascendance in India :

In 2015, India ranked ninth in solar energy deployment, but by 2023, it produced 5.8% of its electricity from solar, up from 0.5% in 2015. This significant increase underscores India’s commitment to clean energy and its pivotal role in mitigating climate change.

Global Solar Growth Trends :

Ember’s report highlights that solar energy witnessed a remarkable increase globally, with 2023’s solar generation exceeding six times that of 2015. The top four solar growth countries, including India, accounted for 75% of this growth, emphasizing the widespread adoption of solar power worldwide.

Published On : May 9, 2024

Q .

India's Toy Exports Slip to _____ Million in 2023-24

$102.92

$121.19

$139.53

$152.34

Correct Answer : Option (D) - $152.34

India’s toy exports experienced a slight decline to USD 152.34 million in the fiscal year 2023-24, with limited benefits from quality control measures. Despite efforts to bolster the domestic industry and ensure product safety, exports did not see significant improvement.

Declining Export Trends :

Export figures dropped marginally from USD 153.89 million in the previous fiscal year to USD 152.34 million in 2023-24, as outlined by the Global Trade Research Initiative (GTRI). Despite a modest increase in exports from FY’2020 to FY’2022, the subsequent year witnessed a downturn.

Import Trends :

Conversely, imports rose to USD 64.92 million in 2023-24 from USD 62.37 million in the preceding year, indicating a persistent challenge in balancing trade dynamics.

GTRI’s Recommendations :

Comprehensive Industry Development Strategy : GTRI Founder Ajay Srivastava emphasized the necessity for a holistic approach to foster the growth of India’s toy industry and bolster exports.

Domestic Ecosystem Strengthening : Developing a robust domestic ecosystem is paramount, alongside measures to encourage renowned global toy brands to establish manufacturing facilities within India’s borders.

Published On : May 9, 2024

Q .

India Leads Global Remittances, Surpassing _____ Billion Mark.

$50

$100

$200

$250

Correct Answer : Option (B) - $100

India emerged as the global leader in remittances in 2022, receiving over $111 billion, surpassing the $100 billion mark for the first time. The International Organisation for Migration (IOM) highlighted India, alongside Mexico, China, the Philippines, and France, as the top five remittance recipient countries.

Consistent Growth: From $53.48 Billion to $111.22 Billion

The UN’s World Migration Report 2024 underscored India’s consistent growth in remittances, noting a rise from $53.48 billion in 2010 to $111.22 billion in 2022. This significant increase showcases India’s pivotal role in the global remittance landscape.

Southern Asia’s Significance in Global Remittances :

The IOM emphasized Southern Asia’s importance as a major recipient of global remittances, attributed to its high proportion of migrant workers and emigrants. India, Pakistan, and Bangladesh all ranked among the top ten recipients worldwide, highlighting the sub-region’s reliance on labor migration.

Prominent Migration Corridors and Destination Countries :

While India ranks 13th as a destination country for immigrants, it features prominently in various international migration corridors, including India-United Arab Emirates, India-Saudi Arabia, and Bangladesh-India, all of which are among the top 10. This indicates India’s significant role in global labor migration patterns.

Published On : May 9, 2024