Paris Summer Olympics 2024

1. PV Sindhu and Sharath Kamal were India’s flag-bearers, and with a contingent of 117 athletes across 16 sports, India will be showcasing its growing prowess on the global stage.
2. The mascot of the Paris 2024 Olympic Games is Phryge. Inspired by the traditional Phrygian hats, this mascot embodies a deep-seated symbol of freedom, according to an article on the Olympics website. These caps stand for “freedom, identity and spirit in France”.
3. The slogan of Paris 2024 is “Games wide open”.
4. Paris has hosted two Olympic Games in the past: the first one in 1900 (the second modern Olympics held in history) and one in 1924, exactly 100 years ago. This means it will join London as the only two cities to host the Olympic Games three times.
5. Indian athletes have won 35 medals so far at the Olympic Games. India first participated at the Olympic Games in 1900, with a lone athlete, Norman Pritchard, winning two medals — both silver — in athletics and became the first Asian nation to win an Olympic medal.
6. Olympic medal-winning rifle shooter Gagan Narang is the Chef-de-Mission of India’s Paris 2024 Olympics contingent. He replaced boxing legend Mary Kom.
7. Three sports are being dropped from the Paris Olympics, which were there at the Tokyo Olympics in 2021: baseball, softball, and karate.
8. Breaking, commonly known as breakdancing, is included at the Olympics for the first time in Paris.
9. The 2028 Olympics will be held in Los Angeles.

 

Economic Survey

1. Economic Survey 2023-24 was tabled in Parliament on 22nd July by Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman.
2. Economic Survey conservatively projects a real GDP growth of 6.5–7 per cent in FY 2024-25.
3. 55% of the tax collected accrued from direct taxes and the remaining 45% from indirect taxes.
4. The current account deficit for FY24 is around 0.7% of GDP.
5. The average pace of National Highway (NH) construction is up by approximately 3 times from 11.7 km per day in FY 14 to approximately 34 km per day in FY 24.

Union Budget

1. Union Finance Minister presented the Union Budget 2024 on 23rd July.
2. The focus is on 4 major castes: ‘Garib’ (poor), ‘Annadata’ (farmers), ‘Yuva’ (youth), and ‘Mahilayen’ (women).
3. The theme of the Budget: Employment, Skilling, MSMEs, and Middle Class.
4. The Budget presented 9 priorities for generating ample opportunities for all: (1) Productivity and resilience in Agriculture, (2) Employment & Skilling, (3) Inclusive Human Resource Development and Social Justice, (4) Manufacturing & Services, (5) Urban Development, (6) Energy Security, (7) Infrastructure, (8) Innovation, Research & Development and (9) Next Generation Reforms.
5. Purvodaya plan: This plan covers five states- Bihar, Odisha, Andhra Pradesh, West Bengal, and Jharkhand- to generate economic opportunities to attain Viksit Bharat.
6. The industrial node at Gaya will be developed on the Amritsar Kolkata Industrial Corridor.
7. Pradhan Mantri Janjatiya Unnat Gram Abhiyan has been announced for improving the socio-economic condition of tribal communities ( in tribal-majority villages and aspirational districts).
8. Vishnupad Temple at Gaya and Mahabodhi Temple at Bodh Gaya in Bihar will be developed on the lines of Kashi Vishwanath Temple Corridor to transform them into world-class pilgrim and tourist destinations.
9. Angel taxes for all classes of investors have been abolished.
10. The major source of revenue for the government: Borrowing and Other Liabilities (27%) & gt; Income Tax (19%) > GST and Other Taxes (18%) > Corporation Txa (17%) > Non-Tax Receipts (9%).
11. The major expenditure of the government: States’ share of taxes and duties (21%) > Interest Payments (19%) > Central Sector Scheme (16%).
12. Expenditure on Key sectors: Defence (4,54,773 ₹ Cr) > Rural Development (2,65,808 ₹ Cr) > Agriculture and allied activites (1,51,851 ₹ Cr) > Home Affairs (1,50,983 ₹ Cr) > Education (1,25,638 ₹ Cr).
13. The Actual Revenue receipt of the Government for 2022-23 was 23.8 ₹ Lakh Cr. The Budget estimate for the Revenue receipts for 2024-25 is 31.3 ₹ Lakh Cr.
14. The Actual Capital receipt of the Government for 2022-23 was 18.1 ₹ Lakh Cr. The Budget estimate for the Capital receipts for 2024-25 is 16.9 ₹ Lakh Cr.
15. The Actual Revenue expenditure of the Government for 2022-23 was 34.5 ₹ Lakh Cr. The Budget estimate for the Revenue expenditure for 2024-25 is 37.1 ₹ Lakh Cr.
16. The Actual Effective Capital expenditure of the Government for 2022-23 was 10.5 ₹ Lakh Cr. The Actual Effective Capital expenditure for 2024-25 is 15.0 ₹ Lakh Cr.