Current Affairs – 25 June 2024

India Ranks Third in Global Domestic Airline Market

India has achieved significant milestones in its domestic aviation sector over the past decade, emerging as the world’s third-largest market for domestic airlines by April 2024. This marks a remarkable ascent from its fifth position ten years ago, driven by robust growth and strategic developments under Prime Minister Narendra Modi’s leadership.

Indian Deposits in Swiss Banks Drop by 70% to Reach Four-Year Low of ₹9,771 Crore

Indian funds in Swiss banks have plummeted by 70% in 2023, reaching a four-year low of 1.04 billion Swiss Francs (₹9,771 crore), according to the Swiss National Bank (SNB). This marks a significant decline after a peak in 2021 and is attributed to decreases in bonds, securities, and other financial instruments. The sharp decline in funds held by Indian customers is mainly due to a sharp reduction in investments in bonds, securities and other financial instruments. Funds held in customer deposit accounts and cash through other bank branches in India have also declined significantly.

DGCA Advisory Circular on Gender Equality in the Civil Aviation Sector

The Directorate General of Civil Aviation (DGCA) has issued an advisory circular titled ‘Gender Equality in the Civil Aviation Sector‘ aimed at increasing women’s representation in aviation to 25% by 2025. This initiative aligns with the gender equality principles enshrined in the Indian Constitution and the International Civil Aviation Organisation’s (ICAO) vision for equal opportunities in aviation.

Tajikistan Government Bans Hijab and Other ‘Alien Garments’

On June 2024, the upper house of the Tajikistan parliament, Majlisi Milli, passed a law prohibiting “alien garments,” which primarily targets the hijab and other traditional Islamic clothing. The lower chamber, Majlisi Namoyandagon, had passed the bill on May 2024. This move has sparked debate among Tajikistan’s predominantly Muslim population in the tightly governed ex-Soviet republic.

Government Monetises ₹1.56 Lakh Crore in FY24 under National Monetisation Pipeline

The government monetised assets worth ₹1.56 lakh crore under the National Monetisation Pipeline (NMP) in the financial year 2023-24, falling short of the target of ₹1.8 lakh crore. This performance represents approximately 159% of the achievement in 2021-22. The NMP aims to unlock the value of brownfield infrastructure assets, with a total monetisation potential estimated at ₹6 lakh crore over a four-year period from FY22 to FY25.

International Day against Drug Abuse and Illicit Trafficking, Date, History and Significance

By resolution 42/112 of 7 December 1987, the General Assembly decided to observe 26 June as the International Day against Drug Abuse and Illicit Trafficking as an expression of its determination to strengthen action and cooperation to achieve the goal of an international society free of drug abuse.

Supported each year by individuals, communities, and various organizations all over the world, this global observance aims to raise awareness of the major problem that illicit drugs represent to society.

53rd GST Council Meeting Overview

The 53rd GST Council met under the Chairpersonship of Union Minister for Finance & Corporate Affairs Smt Nirmala Sitharaman in New Delhi. The meeting was attended by key officials, including Union Minister of State for Finance Shri Pankaj Chaudhary, Chief Ministers of Goa and Meghalaya, Deputy Chief Ministers of Bihar, Haryana, Madhya Pradesh, and Odisha, Finance Ministers of States & UTs (with legislature), and senior officers of the Ministry of Finance & States/ UTs.

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