Current Affairs

1. PM MODI LAUNCHES ‘PRADHAN MANTRI SURYODAYA YOJANA’ FOR ONE CRORE HOUSEHOLDS –

• In a significant move towards sustainable energy, Prime Minister Narendra Modi announced the ‘Pradhan Mantri Suryodaya Yojana,’ targeting the installation of rooftop solar panels on one crore households.
• The announcement was made on the auspicious occasion of the consecration of life in Ayodhya, reflecting the government’s commitment to fostering self-reliance in energy.
• Goal of Pradhanmantri Suryodaya Yojana: The initiative focuses on providing electricity to low and middle-income individuals through solar rooftop installations. Additionally, households can generate surplus electricity, contributing to additional income.
• Financial Assistance under National Rooftop Solar Scheme: The government’s existing National Rooftop Solar Scheme, providing 40% financial assistance for the capital cost of solar rooftop projects, complements the newly announced initiative.
• The significant announcement came as the Prime Minister shared his vision for the ‘Pradhanmantri Suryodaya Yojana.’ He declared, “The first decision I have taken after returning from Ayodhya is that our government will launch ‘Pradhanmantri Suryodaya Yojana’ with the target of installing rooftop solar on 1 crore houses.
• Modi presided over a meeting with high-ranking officials from the Prime Minister’s Office and the Ministry of New and Renewable Energy (MNRE).

 

2. RECENTLY, PRIME MINISTER SHRI NARENDRA MODI PARTICIPATED IN PRAN PRATISHTHA CEREMONY OF SHRI RAMLALLA IN THE NEWLY BUILT SHRI RAM JANMBHOOMI MANDIR –

• Tata Consulting Engineers Limited ( TCEL) is the Project Management Company. Larsen and Toubro (L&T) is the Construction Company.
• The Sculptors are Arun Yogiraaj (Mysore), Ganesh Bhatt and Satyanarayan Pandey.
• Chandrakant Sompura, and his two sons – Nikhil Sompura and Ashish Sompura are the Chief Architects.
• IIT Guwahati, IIT Chennai, IIT Bombay, NIT Surat, Central Building Research Institute Roorkee, National Geo Research Institute Hyderabad, and the National Institute of Rock Mechanics are the design advisors.
• The construction of the Ram Mandir is being supervised by the Shri Ram Janmabhoomi Teerth Kshetra Trust.
• The trust was set up in 2020 after the Supreme Court’s verdict in the Ayodhya land dispute case. It is composed of 15 trustees.
• It is designed in the Nagara Style. Gurjara Chalukya architecture is classified as part of the Nagara style of temple architecture.
• The temple will consist of five mandapas in the middle of the garbhagriha (sanctum sanctorum) and on the entryway.Ram Lalla Virajman, the infant form of Lord Rama, an incarnation of Lord Vishnu, is the presiding deity of the temple.
• The temple will have idols each including the incarnations of Shiva, the 10 Dashavataras, the 64 Chausath Yoginis, and the 12 incarnations of the goddess Saraswati.
• The use of Steel or Iron has been completely avoided in the construction of Ram Mandir. Instead, traditional construction materials have been used in its construction to reflect an alignment with traditional building practices

 

3. INDIAN EQUITY MARKET SURPASSES HONG KONG, RANKS 4TH GLOBALLY WITH $4.33 TRILLION MARKET CAP –

• India’s equity market has outpaced Hong Kong’s Hang Seng, securing the fourth position globally with a market capitalization of $4.33 trillion.
• This milestone, marking India’s ascendancy, underscores the nation’s robust economic standing. The US remains the largest stock market with a staggering $50.86 trillion market cap, followed by China at $8.44 trillion and Japan at $6.36 trillion.
• India achieved a historic milestone on December 5, crossing the $4 trillion market cap threshold, propelled by a burgeoning retail investor base, consistent foreign institutional investments (FII), impressive corporate earnings, and resilient domestic macroeconomic fundamentals.
• Over the past four years, the Indian stock market has experienced remarkable growth, settling with gains for eight consecutive years.
• While India thrives, Hong Kong’s Hang Seng faces a four-year losing streak, reflecting negative sentiment towards China.
• China’s stringent anti-COVID-19 measures, regulatory crackdowns, a real estate crisis, and geopolitical tensions have collectively diminished its position as the global growth engine, causing a substantial dip in the total market value of Chinese and Hong Kong equities.