Daily GK Update: 11th October 2023

 Science & Technology

1. ISRO in collaboration with VIBHA organizes exhibition Space on Wheels

• The ISRO in collaboration with Vijnana Bharati is organizing an exhibition called “Space on Wheels” in Arunachal Pradesh
• Objective: To provide valuable insights into ISRO’s activities and India’s space missions to school and college students
• Aim: To sensitize the youth about the exciting and rewarding career opportunities in the field of space science and to bring the wonders of space exploration to the doorstep of students and enthusiasts across the region

 National & International Organizations

2. Mukesh Ambani overtakes Gautam Adani become richest Indian on Hurun list

• Reliance Industries chairman Mukesh Ambani overtook Gautam Adani and reclaimed the title of the richest Indian, according to Hurun India Rich List 2023. 
• Adani's wealth fell significantly due to the effect of the Hindenburg report on the group’s shares.
• Cyrus S Poonawalla and family remained in third position. 
• Industrialist Kumar Mangalam Birla and family and Niraj Bajaj and family re-entered the top 10.

 Science & Technology

3. Gaganyaan" Test Vehicle Development flight (TV-D1) in Sriharikota

• ISRO will launch of the "Gaganyaan" Test Vehicle Space flight, that is, the "Gaganyaan" Test Vehicle Development flight (TV-D1) on 21october
• ISRO will also test the efficacy of the Crew Escape System which is the crucial part of "Gaganyaan" mission, resulting in unmanned and manned missions to outer space by 2024
• The test is to be conducted at Satish Dhawan Space Centre in Sriharikota
• Crew Module will carry the astronauts during the Gaganyaan mission to outer space

 Banking & Finance

4. IMF Raises India’s FY24 GDP Growth Forecast to 6.3%

• The International Monetary Fund (IMF) raised its FY24 growth projection for India by 20 basis points to 6.3 per cent, citing stronger than expected consumption between April and June.
• The IMF’s latest World Economic Outlook (WEO) kept its global growth forecast unchanged at 3 per cent for 2023 and pared down the 2024 projection by 10 basis points to 2.9 per cent.  
• The IMF’s inflation projection for India has been revised upward to 5.5 per cent for FY24.

 Banking & Finance

5. India’s Net Direct Tax Collections Surge by 21.8%

• India’s net direct tax collections grew 21.8% to ₹9.57 lakh crore by October 9, surpassing over half of the Budget estimates for 2023 with personal income tax revenues rising 32.5% and corporate taxes increasing 12.4%.
• While tax refunds amounting to ₹1.5 lakh crore have been remitted to taxpayers so far, some refunds are being withheld on the basis of pending tax demands from the past that taxpayers are being given a chance to address.

 Banking & Finance

6. India’s Fiscal Deficit Rose To Rs 6.42 trillion, 36% Of The FY24 Target

• India's fiscal deficit in the first five months of the financial year 2023-24 (FY24) stood at Rs 6.42 trillion, 36 per cent of the full-year target of Rs 17.87 trillion.
• In the same period in FY23, the fiscal deficit was 32.6 per cent of the full-year target. 
• Aim: To narrow its fiscal deficit to 5.9 per cent of gross domestic product (GDP) by the end of the current financial year, against 6.4 per cent last year.

 Banking & Finance

7. Star Health Insurance introduces surrogacy cover and oocyte donor cover

• Star Health and Allied Insurance has added surrogacy cover and oocyte donor cover to its popular women-centric policy, Star Women Care Insurance Policy
• Aim: To address a growing demand for assisted reproduction treatment, extending health insurance coverage to surrogate mothers and oocyte donors while also offering reassurance to expectant couples 
• It provides inpatient hospitalization coverage for post-partum delivery complications experienced by the surrogate mother

 State Affairs

8. Bihar govt announces 10% reservation for EWS in judicial services

• Bihar government announced 10 per cent reservation for the Economically Weaker Sections (EWS) in the judicial services and state-run law colleges and universities.
• The announcement came just a day after the government released the first set of data from the state's caste survey.
• According to the data, Extremely Backward Communities (EBCs) account for 36.01% of the population, while Backward Classes comprise an additional 27.12%.

 State Affairs

9. NLC India Ltd Secures 810 MW Solar PV Project In Rajasthan

• State-run NLC India (NLCIL) has secured a 810 megawatt (MW) solar photovoltaic (PV) project from Rajasthan Rajya Vidyut Nigam (RRVUNL) in Bikaner district.
• NLCIL has successfully garnered the entire capacity of the 810 MW tender floated by RRVUNL for developing the project of 2,000 MW ultra mega solar park.
• The LoI for this project has been issued by RRVUNL representing a significant step forward in NLCIL’s commitment to clean and sustainable energy solutions.

 Important Dates

10. International Day of the Girl Child is observed on 11 October

• International Girl Child Day is observed on October 11 to recognise the challenges girls face globally and boost their rights.
• Aim: To focus on the importance of girls' education, their rights, and promoting gender equality. 
• The theme of 2023 is "Invest in Girls' Rights: Our Leadership, Our Well-being,"
• It urges the global community to move beyond reaffirming commitments and invest boldly in the action needed to make changes that could empower girls.

 State Affairs

11. Dhami launches ‘Yuva U’khand app’ to boost self-employment

• CM Dhami inaugurated the Rozgar Prayag portal in the Uttarakhand Yuva Mahotsav -2023
• He also launched the ‘Yuva Uttarakhand’ application and self employment centres at the employment exchanges of the State in the programme
• Aim: To help the unemployed by providing information about the posts in different departments to be filled by outsourcing
• MoUs signed with the IIT Roorkee and Microsoft International for technical support to the state government in skill development