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Rapid Fire Current Affairs

  • 02 Nov 2023
  • 4 min read

Foundation Day of Indian States

The Foundation Day of the eight states and five union territories, namely Punjab, Chandigarh, Haryana, Andhra Pradesh, Chhattisgarh, Karnataka, Kerala, Madhya Pradesh, Tamil Nadu, Andaman and Nicobar Islands, Delhi, Lakshadweep and Puducherry was celebrated on 1st of November. The Foundation Day programme was organized as part of the 'Ek Bharat Shreshtha Bharat' initiative of Government of India.

  • It was stressed that the foundation of four dharma peethas by Adi Shankaracharya in different corners of the country united the nation from Kashmir to Kanyakumari through the bonds of shared culture.
  • Formation Years:
    • 1956: Tamil Nadu, Andhra Pradesh, Madhya Pradesh, Karnataka, Kerala
    • 1966: Haryana was carved out of Punjab
    • 2000: Chhattisgarh

Read More: North-Eastern States Reorganisation Act, 1971 , Jammu and Kashmir Reorganisation Act, 2019, Statehood Demand


GST Collections Rise to ₹1.72 Lakh Crore

In October, India's Goods and Service Tax (GST) revenues surged, reaching the second-highest monthly collection of ₹1.72 lakh crore in 10 months.

  • GST levies on imports of goods rose 13.9% in October, which is faster than the growth from domestic transactions.
  • The average gross monthly GST collection in the FY 2023-24 now stands at ₹1.66 lakh crore and is 11% more than that in the same period in the previous financial year.
  • The spate of notices to tax evaders and anti-evasion drives have led to substantial collections.
  • The total revenue of Centre and the States in the month of October 2023 after regular settlement is ₹72,934 crore for CGST and ₹ 74,785 crore for SGST.

Read More: Goods and Service Tax Council, GST Appellate Tribunal


Nandini Das Wins British Academy Book Prize 2023

Nandini Das, an India-born author, won the British Academy Book Prize 2023 for Global Cultural Understanding, for her book 'Courting India: England, Mughal India, and the Origins of Empire.'

  • The author has sought to present a new perspective on the origins of empire through the story of the arrival of the first English ambassador in India, Sir Thomas Roe, in the early 17th century.
  • The British Academy Book Prize, previously named the Nayef Al-Rodhan Prize, was created in 2013 to honor outstanding non-fiction works that exhibit rigor, originality, and promote a deeper understanding of different world cultures and their interactions.

Read More: International Booker Prize, Nobel Prize in Literature


Manufacturing PMI Signals Eight-Month Low

In October 2023, the manufacturing sector's growth slowed down to its lowest pace since February. This decline was attributed to a decrease in new orders, which reached a one-year low, as indicated by the S&P Global India Manufacturing Purchasing Managers' Index (PMI).

  • Producers facing higher costs due to increased prices for aluminum, chemicals, leather, paper, rubber, and steel reported slower input accumulation, the slowest in eight months, even though manufacturers continued to stock up on supplies.
  • Business confidence dipped to a five-month low as concerns about inflation and demand tempered optimism, though firms still maintained a generally positive outlook on future prospects.
  • Consumer goods were behind most of the slowdown, recording considerably softer increases in sales, production, exports, input inventories and buying levels.

Read More: Index of Industrial Production, India’s Manufacturing Sector

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