Which state government has recently approved the state's first export promotion policy to boost exports?

Daily Current Affairs

Assam

Rajasthan

Maharashtra

Himachal Pradesh

Correct Answer : Maharashtra

In Maharashtra, the state cabinet 8th Nov 2023 approved the state's first export promotion policy designed to boost exports. According to a statement from Chief Minister's Office, the policy will be implemented till 2027-28 and it is expected to generate an investment of approximately Rs. 25 thousand crores in the state.

This policy will benefit about 5000 industries in the state, and also create 40000 employment opportunities and help increase the exports of the state by up to 14%. This policy includes setting up export centers at the district level by promoting export-oriented industries.

Another decision to appoint an empowered committee under the chairmanship of the Chief Minister to effectively implement the scheme for the upliftment of Dhangar society was also taken in the cabinet meeting.

The cabinet today (8th Nov 2023) also decided to set up modern Orange processing centers at 5 places in Vidarbha. The move aims to enable the orange growers to get the right price and send the right quality of oranges to the country and abroad.

Filling up of teaching posts in subsidized private Ayurveda, Unani colleges through State Selection Board, approval of 2 barrages in Mangrulpir taluk in Washim district, establishment of authority to increase the number of high yielding milch animals, proposal to set up police dog training center at Mauje Gojubavi in Baramati taluka, tourist center for information about Maharashtra in Mauritius Important decisions like the proposal to set up a multi-purpose complex etc. were taken in today's meeting..

Source : AIR

Published On : November 10, 2023

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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