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Prime Minister (PM) Narendra Modi visited Gujarat on 12th March, 2024. During his visit, PM
inaugurated and laid the foundation stone of various development projects in Gujarat. The
development projects cover various sectors such as: railway infrastructure, connectivity and
petrochemicals.
➢ PM flagged off 10 new Vande Bharat trains
➢ PM laid the foundation stone of Petrochemicals Complex of Petronet LNG in Gujarat
➢ PM inaugurated Kochrab Ashram and launched Master Plan of Gandhi Ashram
Memorial
➢ PM inaugurated India’s 1st automobile in-plant railway siding project of Maruti Suzuki in
Gujarat

https://asi.nic.in/ Union Ministers of State (MoS) Meenakshi

asi/ Lekhi, the Ministry of Culture (MoC), has
launched the revamped website of the
She also handed over the Memorandums of
Archaeological Survey of India (ASI)
Understanding (MoUs) for Monuments
(https://asi.nic.in) at the National Museum
Adoption under the Adopt a Heritage 2.0 to
in New Delhi, Delhi.
the representatives of the Corporate-Houses.

The Ministry of Defence (MoD) has signed contracts worth Rs 8073.17 crore with Hindustan
Aeronautics Limited (HAL) for the acquisition of 34 Advanced Light Helicopters (ALH) Dhruv
Mk III equipped with Operational Role Equipment for Indian Army/IA (25 ALHs) and Indian
Coast Guard/ICG (9 ALHs).
➢ This acquisition is under Buy (Indian-IDDM – Indigenously Designed, Developed &
Manufactured) category.
➢ This contract follows an approval of the Cabinet Committee on Security (CCS)

Ministry of Heavy Indian Institute of To encourage innovation and advance

Industries (MHI) Technology, Roorkee the automotive and electric vehicle
(IIT Roorkee) (EV) sector.

➢ The MoU aims to create a Centre of Excellence (CoE) and an Industry Accelerator at IIT
Roorkee.

Trends in International Swedish think tank, Stockholm International

Arms Transfers, 2023 Peace Research Institute (SIPRI), India was the
world’s top arms importer for the period 2019-23.
Saudi Arabia and Qatar were the 2nd India’s imports has increased by 4.7% compared
and 3rd largest importers. to the period 2014-18.

➢ United States (US), France, Russia were the top 3 largest exporters of arms between 2019-
23.

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The protocol for the establishment of the Joint Economic and Trade Committee (JETCO)
between India and the Dominican Republic was signed at the Ministry of Foreign Affairs
(MIREX) of the Dominican Republic at Santo Domingo.
➢ Objective: The protocol aims to establish a bilateral institutional mechanism between
both nations in trade and commerce, enhance collaboration in various service sectors,
and foster technological exchange and innovation.

India Singapore To enhance cooperation on legal and dispute

resolution services, aimed at bolstering
collaboration in international commercial dispute
resolution.

➢ Under this MoU, both ministries will work together, facilitate the exchange of best
practices and promote the adoption of Alternate Dispute Resolution (ADR) mechanisms.

Ministry of Asian Signed a loan agreement worth USD 181

Finance (MoF) Development Million for the ‘Ahmedabad Peri-urban
Bank (ADB) Livability Improvement Project’.

➢ The amount will be utilised to build quality infrastructure and services toward
improving urban livability and mobility in the peri-urban areas of Ahmedabad city in
Gujarat. The total finance of the program is USD 316.9 million.

NPCI International
Fonepay Payment To launch cross-border Unified
Payments Ltd (NIPL), the
Service Ltd, Payment Interface (UPI)
international arm of
Nepal’s largest transactions between India and
National Payments
payment network Nepal.
Corporation of India (NPCI)

➢ The partnership is now fully operational and enables Quick Response (QR) code-based
person-to-merchant (P2M) UPI transactions between India and Nepal. This initiative
was unveiled at Global Fintech Fest 2023 in India in September 2023.

Fitch Rating, an international credit rating agency, has increased its forecast for India’s Gross
Domestic Product (GDP) growth by 0.5% points to 7% for the fiscal year 2024-25 (FY25) from its
prior prediction of 6.5% due to improving domestic demand and increasing investments.
➢ For FY24, India’s GDP growth is estimated at 7.8% and the growth rate is projected to be
6.5% for FY26. Indian economy achieved about an 8% growth rate in the first three-
quarters (April 2023 – December 2023)of FY24.

Wings Publication International announced the winners of Golden Book Award 2024, which
celebrates and honours the outstanding authors and their literary works.
➢ Author Rakhi Kapoor won her 2nd Golden Book Award for her 26th book titled “Breaking
Free Embracing Me: healing from childhood abuse and Toxic Conditioning”.
➢ She is a physiotherapist who pioneered the concept of prenatal counselling in India to
enhance maternal and fetal health outcomes.

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 Daily Content PDF

Retired Indian Administrative Service (IAS) officers Gyanesh Kumar and Dr. Sukhbir Singh
Sandhu took charge as the New Election Commissioners(ECs) in the Election Commission of
India(ECI). The post of ECs were vacant since the retirement of Anup Chandra Pandey on 14th
February 2024 and resignation of Arun Goel on 8th March 2024.

Scientists have discovered a new colourful flowering plant species, ‘Begonia Narahari’ in the
Mishmi Hills in Lohit district, Arunachal Pradesh. The findings were published in the
international journal Phytotaxa, the world’s largest journal in Botanical Taxonomy.
➢ The new species has been named after Prof. Garikapati Narahari Sastry, former director
of the Council of Scientific and Industrial Research (CSIR)-North East Institute of Science
and Technology (NEIST), Jorhat, Assam.

The Mumbai cricket team led by Ajinkya Rahane won the Ranji Trophy 2023-2024 season by
defeating Vidarbha led by Akshay Wadkar in the finals held at Wankhede Stadium in
Mumbai, Maharashtra. This marks the Mumbai team’s 42nd Ranji Trophy and first trophy
since 2016.
➢ The 89th edition of the Ranji Trophy, India’s premier domestic first-class cricket
tournament, was held from 5th January to 14th March 2024. The tournament witnessed
the participation of 38 teams.

March 15, 2024 World Consumers Rights Day (WCRD) is

annually observed across the globe to
raise global awareness of consumer
Theme: ‘Fair and responsible AI for
rights, needs, protection, and
consumers’
empowerment. WCRD is annually
coordinated by Consumers International.

Chhattisgarh Chief Minister (CM) Vishnu Deo Sai launched ‘Krishak Unnati Yojna’ to provide
input assistance to farmers, primarily paddy cultivators, during the event held at Saryu
Prasad Agrawal Stadium in Balod district, Chhattisgarh.
➢ Objective: To increase farmers’ income, boost crop production, and productivity, and
reduce cultivation costs. It also aims to ensure fair prices for crops.

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 Daily Content PDF

NSE to reduce cash, derivative transaction charges by 1 per cent

Election Commission released Electoral Bonds data on Website

Car makers to provide 'rear seat belt alarm' from April 2025

UK govt offers counter-package to Tata Steel for Port Talbot plant

EbixCash becomes 1st to launch UPI for foreign nationals visiting India

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 Daily Content PDF

AFFAIRSCLOUD TODAY
Current Affairs 17 & 18 March 2024 : Headlines

Overview of PM Modi’s visit to Gujarat on March 12, 2024

MoS Meenakshi Lekhi Unvield Revamped Website of ASI & handed over MoUs under the Adopt a
Heritage 2.0
MoD Signs Contracts Worth Rs 8073 cr with HAL to Acquire 34 ALH Dhruv Mk III for Indian Army
& ICG
MHI & IIT Roorkee Partners to Advance Automotive and EV Sector
SIPRI Report 2023: India World’s Largest Arms Importer Between 2019- 2023
India & Dominican Republic Signs Protocol For Establishment Of Joint Economic And Trade
Committee
India-Singapore signs MoU on Law, Dispute Resolution to Boost Ties
ADB & MoF signed USD 181 Million Loan Agreement to Improve Urban Mobility in Peri-Urban
Areas of Ahmedabad
NPCI Partners with Nepal’s Fonepay Payment Service for Cross-Border UPI Transactions
between India & Nepal
Fitch revises India’s FY25 GDP Growth Forecast to 7% from 6.5%
Golden Book Award 2024: Author Rakhi Kapoor won the award for “Breaking Free Embracing
me”
Gyanesh Kumar & Dr. Sukhbir Singh Sandhu appointed as new Election Commissioners; Arun
Goel Resigns
Begonia Narahari: New Flowering Plant Species Found in Mishmi Hills of Arunachal Pradesh
Ranji Trophy 2023-2024: Mumbai Wins their 42nd Ranji Trophy title by Defeating Vidarbha in
the finals
World Consumers Rights Day 2024 – March 15
Chhattisgarh CM Vishnu Deo Sai Launched Krishak Unnati Yojna to Provide Input Assistance to
Paddy Cultivators

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NATIONAL AFFAIRS
Overview of PM Modi’s visit to Gujarat on March 12, 2024
Prime Minister (PM) Narendra Modi visited Gujarat on 12th March, 2024. During his visit, PM inaugurated
and laid the foundation stone of various development projects in Gujarat. The development projects cover
various sectors such as: railway infrastructure, connectivity and petrochemicals.

Key Highlights of PM’s visit to Gujarat

PM laid the foundation stone and dedicated to the nation multiple developmental projects worth
more than 1 lakh crore in Gujarat
Prime Minister(PM) Narendra Modi dedicated to the nation and laid foundation stone of several
development projects worth over Rs 1,06,000 crore at Dedicated Freight Corridor’s Operation Control
Centre(OCC) in Ahmedabad, Gujarat on 12th March, 2024.
Projects related to Railway Sectors:
PM Modi unveiled various railway projects worth Rs 85,000 crore at Ahmedabad, Gujarat. These projects
include:
i.He laid the foundation stone of Railway Workshops, Loco sheds, Pit lines or Coaching depots.
ii.He laid the foundation stone of new rail line connecting Phaltan to Baramati.
iii.Upgradation work of Electric Traction System.
iv.PM dedicated to the nation two new sections of Dedicated Freight Corridor (DFC) of 401 Rkm long
between New Khurja to Sahnewal section of Eastern DFC.
• New Makarpura to New Gholvad section (244 Route kilometre (RKM)) of Western DFC.
• Western DFC’s Operation Control Centre in Ahmedabad, Gujarat.
v.PM also flagged off freight trains on DFC from various locations: New Khurja Junction, Sahnewal, New
Rewari, New Kishangarh, New Gholvad and New Makarpura.
vi.PM dedicated to the nation 50 Pradhan Mantri Bhartiya Janaushadhi Kendras at Railway Stations.
About Pradhan Mantri Bhartiya Janaushadhi Kendras:
These Janaushadhi Kendras are established under Pradhan Mantri Bhartiya Janaushadhi Pariyojana
(PMBJP), which was launched in 2008 by Department of Pharmaceuticals, Ministry of Chemicals and
Fertilizers.
Aim: The primary objective of setting up of Janaushadhi Kendras is to provide affordable and quality
generic medicines to the people.
Janaushadhi Kendras are monitored by Pharmaceuticals and Medical Devices Bureau of India (PMBI).
vii.PM also inaugurated 51 Gati Shakti Multi-Modal Cargo Terminals. These terminals will simplify the
movement of goods between different modes of transportation.
viii.PM unveiled 1045 Rkm of Automatic Signaling in 80 sections. Also, He dedicated to the nation Digital
Controlling of Railway Stations at 2646 stations.

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• This will improve operational efficiency and safety of the trains.

ix.PM dedicated 35 rail coach restaurants to the nation. It aims to address the needs of passengers and
public and generates non-fare revenue for railways.
x.PM inaugurated more than 1500 One Station One Product stalls. These stalls will give boost to local
products and generate income for local artisans and businesses.
Other Key Projects launched by PM:
i.PM dedicated to the nation Solar Power Stations/ Buildings at 975 locations. This will give boost to
India’s renewable energy goals and will help to reduce carbon footprint of railways.
ii.PM laid the foundation stone for Ekta Malls in Gujarat and Maharashtra worth Rs 400 crore.
• These Malls will support the rich and diverse heritage of Indian handicrafts, handlooms,
traditional and ODOP (One District One Product) products.
PM flagged off 10 new Vande Bharat trains
During his visit to Gujarat, PM flagged off 10 new Vande Bharat trains on 12th March, 2024. These newly
introduced Vande Bharat trains are:
i.Ahmedabad- Mumbai Central (Maharashtra)
ii.Secunderabad (Telangana)- Visakhapatnam (Andhra Pradesh)
iii.Mysuru (Karnataka) – Dr. MGR Central (Chennai) (Tamil Nadu)
iv.Patna (Bihar)- Lucknow (Uttar Pradesh)
v.New Jalpaiguri (West Bengal)- Patna
vi.Puri (Odisha)- Visakhapatnam
vii.Lucknow- Dehradun (Uttarakhand)
viii.Kalaburagi (Karnataka)- Sir M. Visvesvaraya Terminal Bengaluru (Karnataka)
ix.Ranchi (Jharkhand)- Varanasi (Uttar Pradesh)
x.Khajuraho (Madhya Pradesh)- Delhi(Nizamuddin)
PM also flagged off the extension of 4 Vande Bharat trains:
i.Ahmedabad- Jamnagar Vande Bharat is extended till Dwarka (Gujarat)
ii.Ajmer (Rajasthan)- Delhi Sarai Rohilla Vande Bharat is extended till Chandigarh
iii.Gorakhpur (Uttar Pradesh)- Lucknow Vande Bharat is being extended till Prayagraj (Uttar Pradesh)
iv.Thiruvananthapuram (Kerala)- Kasargod Vande Bharat is being extended till Mangaluru (Karnataka)
• He also inaugurated two new passenger trains between Asansol (West Bengal) and Hatia
(Jharkhand), Tirupati ( Andhra Pradesh) and Kollam (Kerala) stations.
Note: 1st Vande Bharat train was flagged off in September, 2022, connecting Mumbai-Ahmedabad-
Gandhinagar.
• At present, Indian Railways operates 41 Vande Bharat Express services which connects states
with Broad Gauge(BG) electrified networks. So far, it has covered 24 states and 256 districts.
PM laid the foundation stone of Petrochemicals Complex of Petronet LNG in Gujarat
PM Narendra Modi laid the foundation stone of Petrochemicals Complex of Petronet LNG(Liquefied
Natural Gas) worth more than Rs 20, 000 crore at Dahej, Gujarat.
i.The complex include Ethane and Propane handling facilities valued at Rs20, 600 crore. It will give boost
to Hydrogen production and Polypropylene demand in India.
ii.The Petrochemicals Complex of Petronet LNG is strategically located near the existing LNG regasification
terminal. This would result in significant cost savings in both capital expenditure and operational cost of
the project.
PM inaugurated Kochrab Ashram and launched Master Plan of Gandhi Ashram Memorial
PM Narendra Modi inaugurated the redeveloped Kochrab Ashram and launched the Master Plan of the
Gandhi Ashram Memorial at Sabarmati Ashram, Ahmedabad, Gujarat.

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Note: Kochrab Ashram was 1st Ashram established by Mahatma Gandhi in 1915 after coming back from
South Africa. It is preserved as a memorial and tourist space by Gujarat Vidyapeeth.
About Master Plan of Gandhi Ashram Memorial:
i.The main focus of the project is to revitalize Mahatma Gandhi’s teachings and philosophy for present and
future generations.
ii.The project plans to expand existing 5 acre land to 55 acres.
iii.It proposes to restore existing 36 buildings, out of which 20 buildings which include “Hriday
Kunj”which served as Gandhi’s residence will be conserved.
PM inaugurated India’s 1st automobile in-plant railway siding project of Maruti Suzuki in Gujarat
PM Narendra Modi virtually inaugurated India’s 1st automobile in-plant railway siding project of Maruti
Suzuki on 12th March, 2024 from Ahmedabad, Gujarat. It is located at Hansalpur, Mehsana district of
Gujarat.
Key Points:
i.The project is developed under Pradhan Mantri Gati Shakti mission, in partnership with G–RIDE
(Gujarat- Rail Infrastructure Development Corporation), GIDC(Gujarat Industrial Development
Corporation) and MSIL(Maruti Suzuki India Limited).
Note: GRIDE is a joint venture between the Gujarat Government and Ministry of Railways.
ii.The Project is developed at cost of Rs 976 crore.
• It aims to help MSIL in dispatching and transporting 3 lakh finished cars by train.
iii.A new 2.5 km long rail track has been constructed to connect MSIL plant to Becharaji Railway Station.
iii.The railway line within the Bahucharaji plant was constructed entirely by Maruti Suzuki at cost of Rs
105 crore.
About Gujarat:
Chief Minister (CM): Bhupendra Rajnikant Patel
Governor: Acharya Devvrat
Capital: Gandhinagar
National Park (N.P.): Gir National Park, Marine National Park

MoS Meenakshi Lekhi Unvield Revamped Website of ASI & handed over MoUs under the Adopt
a Heritage 2.0
Union Ministers of State (MoS) Meenakshi Lekhi, the Ministry of Culture (MoC), has launched the
revamped website of the Archaeological Survey of India (ASI) (https://asi.nic.in) at the National Museum
in New Delhi, Delhi.

• She also handed over the Memorandums of Understanding (MoUs) for Monuments Adoption
under the Adopt a Heritage 2.0 to the representatives of the Corporate-Houses.

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Revamped Website:
i.This new website offers a more comprehensive and user-friendly experience for everyone, especially
students seeking information on India’s vast history.
ii.The revamped website and program highlight the government’s commitment to using technology to
make India’s cultural heritage more accessible.
MoUs:
i.ASI has MoUs with the corporates for Monuments Adoption under the ‘Adopt a Heritage
2.0’ programme.
ii.The MoU aims to make the preservation of 14 out of 4000 heritages of ASI an inclusion process based on
the theme of ‘Sabka Saath, Sabka Vikas, Sabka Pryas’.
iii.These 14 monuments will be changed to give a much better viewer experience, a much more livelier
history of the monuments and much more exposition of their place in India’s culture.
iv.The corporates (Smarak Sarathi / Sathi) engaged in MoU will adopt a specific monument and contribute
to their maintenance and better showcasing to the public.
v.MOU with entities will be signed for a five-year period that can be extended for another five years.
Point to note:
The 14 monuments include Agra Fort in Agra (Uttar Pradesh), Mehrauli Archaeological Park (Delhi),
Buddhist Stupa in Champaran (Bihar), Kailasanatha temple in Kanchivaram (Tamil Nadu), Kandariya
Temple & Khajuraho in Chhatarpur (Madhya Pradesh), Safdarjung Tomb (Delhi), Group of Monuments in
Mamallapuram (Tamil Nadu), Sun temple in Puri (Odisha), Elephanta Caves in Raigarh (Maharashtra),
Upper Fort Aguada (Goa), Purana Qila (Delhi), Qutub Minar (Delhi), Humanyun’s Tomb (Delhi) and Uggar
Sain’s Baoli (Delhi).
About “Adopt a Heritage 2.0”:
In September 2023, ASI launched the ‘Adopt a Heritage 2.0’ programme to collaborate with corporate
stakeholders to enhance amenities at Historical monuments by utilising their corporate social
responsibility (CSR) funds.
About Archeological Survey of India (ASI):
ASI is the premier organization for archaeological research and protection of cultural heritage in India. It
function under Ministry of Culture (MoC).
Director General – Yadubir Singh Rawat
Headquarters – New Delhi, Delhi
Established in – 1861

MoD Signs Contracts Worth Rs 8073 cr with HAL to Acquire 34 ALH Dhruv Mk III for Indian
Army & ICG
On 13th March 2024, The Ministry of Defence (MoD) has signed contracts worth Rs 8073.17 crore with
Hindustan Aeronautics Limited (HAL) for the acquisition of 34 Advanced Light Helicopters
(ALH) Dhruv Mk III equipped with Operational Role Equipment for Indian Army/IA (25 ALHs)
and Indian Coast Guard/ICG (9 ALHs).
• This acquisition is under Buy (Indian-IDDM – Indigenously Designed, Developed &
Manufactured) category.
• This contract follows an approval of the Cabinet Committee on Security (CCS)
ALH Dhruv Mk III UT (Utility): (Indian Army Version):
i.It is Designed for Search & Rescue, Troop Transportation, Internal Cargo, and Recce/Casualty Evacuation.
ii.It has proved its effectiveness in challenging terrains like the Siachen Glacier and Ladakh.

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ALH Mk III MR (Maritime Role): (ICG Version):

i.It is designed for Maritime Surveillance and Interdiction, Search and Rescue, Rappelling Operations,
Cargo & Personnel Transportation, and Pollution Response.
ii.It has showcased resilience in adverse environmental conditions over sea and land.
Note: This project is expected to create employment of approximately 190 Lakh Man-Hours, involving
over 200 MSMEs (Micro, Small and Medium Enterprises) and 70 local vendors, aligning with the vision of
‘Aatmanirbhar Bharat’ (Self-reliant India).
MoD inks contract with AVNL for 693 Armament Upgrades of Infantry Combat Vehicle BMP2 to
BMP2M
MoD also signed a contract with Armoured Vehicles Nigam Limited (AVNL) to procure 693 Armament
Upgrades of Infantry Combat Vehicle BMP2 to BMP2M.
• It includes Night Enablement, Gunner Main Sight, Commander Panoramic Sight and Fire Control
System (FCS) with Automatic Target Tracker under Buy {Indian-IDDM} Category.
Key Points:
i.AVNL has developed an indigenous solution for equipping existing BMP 2/2K vehicles with Night
Fighting Capabilities and Fire Control Systems (FCS).
ii.The solution integrates technology from Defence Research and Development Organisation (DRDO) and
Bharat Electronics Limited (BEL), Chennai, Tamil Nadu.
iii.This initiative aims to strengthen the indigenous defense manufacturing ecosystem and promote self-
reliance in the field.

MHI & IIT Roorkee Partners to Advance Automotive and EV Sector

The Ministry of Heavy Industries (MHI) signed a Memorandum of Understanding (MoU) with the Indian
Institute of Technology, Roorkee (IIT Roorkee), Roorkee, Uttarakhand to encourage innovation and
advance the automotive and electric vehicle (EV) sector.

Key People:
i.The MoU was signed by K.K Pant, Professor, IIT Roorkee and Vijay Mittal, Joint Secretary, MHI.
ii.The MoU was exchanged in the presence of Union Minister Mahendra Nath Pandey, MHI; Pushkar Singh
Dhami, Chief Minister (CM) of Uttarakhand (through Video Conference).

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About the MoU:

i.The MoU aims to create a Centre of Excellence (CoE) and an Industry Accelerator at IIT Roorkee.
ii.For this purpose, IIT Roorkee partners with International Centre for Automotive
Technology (ICAT) Manesar (Haryana), a premier institute for automotive testing and research, for
services like automotive electrical and electronics testing.
iii.The MoU is a part of Scheme for Enhancement of Competitiveness in the Indian Capital Goods Sector
Phase II of MHI.
iv.The partnership leverages expertise from both MHI & IIT Roorkee to bridge the gap between academia
and industry.
v.Project Cost: The total cost of the project is Rs.24.6645 Crore. Out of this MHI will offer Rs. 19.8745
Crore and Rs.4.78 Core will be contributed by industry partners.
Additional Info:
The partnership also motivates many startups to collaborate with IIT-Roorkee for projects related to EV.
About Ministry of Heavy Industries (MHI):
Union Minister –Mahendra Nath Pandey (Constituency: Chandauli, Uttar Pradesh)
Union Minister of State (MoS) – Krishan Pal Gurjar (Constituency: Faridabad, Haryana)

INTERNATIONAL AFFAIRS
SIPRI Report 2023: India World’s Largest Arms Importer Between 2019– 2023
According to ‘Trends in International Arms Transfers, 2023’ released by Swedish think tank, Stockholm
International Peace Research Institute (SIPRI), India was the world’s top arms importer for the period
2019-23. India’s imports has increased by 4.7% compared to the period 2014-18.

• Saudi Arabia and Qatar were the 2nd and 3rd largest importers.
• United States (US), France, Russia were the top 3 largest exporters of arms between 2019-23.
India’s main suppliers:
i.Russia remains India’s top arms supplier at 36%, however, it’s the first time since 1960–64 that their
deliveries comprised less than half of India’s imports.
ii.The 2nd and 3rd main suppliers of India are France (33%) and the United States of America(USA)
(13%).

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Top 5 importers & their main suppliers, 2019–23:

Main Suppliers & Share of importers’s total imports(%)

Importer & Global share
Rank
(%)
1st 2nd 3rd

1 India(9.8) Russia(36) France(33) USA(13)

2 Saudi Arabia(8.4) USA(75) France(7.6) Spain(7)

3 Qatar(7.6) USA(45) France(25) Italy(15)

4 Ukraine(4.9) USA(39) Germany(14) Poland(13)

5 Pakistan(4.3) China(82) Sweden(4) Türkiye(3.8)

Note:
i.The top 3 arms importers belongs to Asia and Oceania or the Middle East.
ii.Ukraine became the fourth biggest arms importer globally after it received transfers of major arms from
over 30 states in 2022-23.
Top 5 exporters & their main recipients, 2019–23”

Main Recipient & Share of exporter’s total exports(%)

Exporters & Global share
Rank
(%)
1st 2nd 3rd

1 USA(42) Saudi Arabia(15) Japan(9.5) Qatar(8.2)

2 France(11) India(29) Qatar(17) Egypt(6.4)

3 Russia(11) India(34) China(21) Egypt(7.5)

4 China(5.8) Pakistan(61) Bangladesh(11) Thailand(6)

5 Germany(5.6) Egypt(20) Ukraine(12) Israel(12)

Points to note:
i.From 2014–18 to 2019–23, USA arms exports surged by 17%, contrasting with a drastic -53% decline in
Russia’s exports.
• France rose as the world’s second-largest arms supplier, with a remarkable 47% increase in
exports.
ii.The volume of international transfers of major arms in 2019–23 was 3.3% lower than in 2014–18 and
3.3% higher than in 2009–13.
Additional info:
i.The interim budget for FY25 allocated Rs 6.2 lakh crore to the Ministry of Defence, with Rs 1.72 lakh
crore designated for new procurements, a 5.78% increase from FY24 Budget Estimates.
ii.At present, India has a defence production worth Rs 1 trillion at present, with defence exports of Rs
16,000 crore.
iii.India aims to double the defence exports to Rs 40000 in 2 years.

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Recent Related News:

i.The Ministry of Defence (MoD) has signed a contract with Cochin Shipyard Limited (CSL)(Kochi, Kerala)
for mid-life upgrade and re-powering of the advanced guided missile frigate Indian Naval Ship (INS) Beas
(F37) at a cost of Rs 313.42 crore.
ii.MoD has signed a contract for the construction of one Training Ship for the Indian
Coast Guard (ICG) with Mazagon Dock Shipbuilders Ltd (MDL), Mumbai(Maharashtra) at a cost of Rs 310
crore under the Buy Indian -Indigenously Designed Developed and Manufactured (IDDM) category in New
Delhi, Delhi.
About Stockholm International Peace Research Institute (SIPRI):
Director– Dan Smith
Establishment– 1966
Headquarters– Solna, Sweden

India & Dominican Republic Signs Protocol For Establishment Of Joint Economic And Trade
Committee
On 12th March 2024, The protocol for the establishment of the Joint Economic and Trade Committee
(JETCO) between India and the Dominican Republic was signed at the Ministry of Foreign Affairs
(MIREX) of the Dominican Republic at Santo Domingo.

Signatories: The protocol was signed by Roberto Álvarez, Minister of Foreign Affairs of Dominican
Republic and Ramu Abbagani, Ambassador of India to the Dominican Republic on behalf of the Department
of Commerce, Ministry of Commerce and Industry(MOCI).
Background:
i.On 24th January 2024, the Union Cabinet chaired by Prime
Minister Narendra Modi approved the proposal to sign the
protocol for establishment of JETCO between India and the
Dominican Republic.
ii.This will boost the existing economic and commercial
relations further.
Note: 2024 marks the 25 years of establishment of
diplomatic relations between India and Dominican Republic.
About the protocol to establish JETCO:
Objective: The protocol aims to establish a bilateral
institutional mechanism between both nations in trade and
commerce, enhance collaboration in various service sectors,
and foster technological exchange and innovation.
Key Points:
i.The protocol expects to strengthen and develop cooperation in trade, services, industrial technologies,
and other various sectors through technical assistance, training programs, and capacity building.

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ii.This will mitigate trade and industry challenges and provide a platform for sharing knowledge and best
practices between the 2 nations.
Additional info: India primarily imports gold from the Dominican Republic; and exports pharmaceuticals,
marine products, motor vehicles, 2 and 3-wheelers, etc., to the Dominican Republic.

India-Singapore signs MoU on Law, Dispute Resolution to Boost Ties

India and Singapore signed a Memorandum of Understanding (MoU) to enhance cooperation on legal and
dispute resolution services, aimed at bolstering collaboration in international commercial dispute
resolution.
• The agreement was signed virtually by Singapore’s Minister for Culture, Community and Youth
and Second Minister for Law, Edwin Tong, and India’s Minister for Law and Justice, Arjun Ram
Meghwal.
Key Points:
i.Under this MoU, both ministries will work together, facilitate the exchange of best practices and promote
the adoption of Alternate Dispute Resolution (ADR) mechanisms.
ii.The Singapore Mediation Centre (SMC) will administer the formal ADR process, starting with mediation
sessions conducted by neutral mediators to facilitate settlements while maintaining confidentiality.
iii.A Joint Consultative Committee, co-chaired at the Ministerial or Secretary level, will also be set up, and
will meet regularly to make and implement specific proposals under the MoU.

BANKING & FINANCE

ADB & MoF signed USD 181 Million Loan Agreement to Improve Urban Mobility in Peri-Urban
Areas of Ahmedabad
On 13th March 2024, the Ministry of Finance (MoF) and the Asian Development Bank (ADB) has signed a
loan agreement worth USD 181 Million for the ‘Ahmedabad Peri-urban Livability Improvement

Project’.
• The amount will be utilised to build quality infrastructure and services toward improving urban
livability and mobility in the peri-urban areas of Ahmedabad city in Gujarat.
Signatories:
The loan agreement was signed by Juhi Mukherjee, Joint Secretary, Department of Economic Affairs (DEA),
MoF and Rajesh Vasudevan, Officer-in-Charge of ADB’s India Resident Mission.
Key Details:
i.Financing: The total finance of the program is USD 316.9 million.
• Out of this ADB committed to offer USD 181 million whereas the remaining USD 135.9 million
will be financed through Non-ADB sources.

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ii.The project is implemented by the Ahmedabad Urban

Development Authority (AUDA) of the Government of
Gujarat.
iii.Urban Development and Urban Housing Department of
the Government of Gujarat will be executing the project.
iv.The closing date of the project is 30th June 2028.
About the project:
i.The project will construct essential infrastructure like a
166 km water distribution network, 126 km of climate-
resilient drainage systems, 300 km of sewerage systems,
and four sewage treatment plants.
ii.Ten key junctions along the Sardar Patel Ring Road will
be improved to enhance connectivity between peri-urban
areas and the Ahmedabad city.
iii.Climate-resilient infrastructure and treated sewage
recycling for industrial use are key aspects of the project.
iv.The project also strengthens urban planning capacities and promotes social inclusion.
v.Capacity building for government agencies and awareness campaigns for communities will be carried
out as a part of the program.
Note: The project was approved in October 2023.
About Asian Development Bank (ADB):
President – Masatsugu Asakawa
Headquarters – Mandaluyong City, Manila, Philippines
Established in – 1966
Members – 68 members (49 from Asian region)

NPCI Partners with Nepal’s Fonepay Payment Service for Cross-Border UPI Transactions
between India & Nepal
NPCI International Payments Ltd (NIPL), the international arm of National Payments Corporation of India
(NPCI), partnered with Fonepay Payment Service Ltd, Nepal’s largest payment network, to launch cross-
border Unified Payment Interface (UPI) transactions between India and Nepal.
This initiative was unveiled at Global Fintech Fest 2023 in India in September 2023.
• The partnership is now fully operational and enables Quick Response (QR) code-based person-
to-merchant (P2M) UPI transactions between India and Nepal.
• In the 1st phase, Indian consumers can make instant, secure, and convenient UPI payments
across various business stores in Nepal using UPI-enabled Apps.
• Merchants within the Fonepay Network can effortlessly accept UPI payments from Indian
customers.
Note: NIPL was established on 3 April 2020, as a wholly-owned subsidiary of NPCI.

ECONOMY & BUSINESS

Fitch revises India’s FY25 GDP Growth Forecast to 7% from 6.5%
Fitch Rating, an international credit rating agency, has increased its forecast for India’s Gross Domestic
Product (GDP) growth by 0.5% points to 7% for the fiscal year 2024-25 (FY25) from its prior prediction
of 6.5% due to improving domestic demand and increasing investments.

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• For FY24, India’s GDP growth is estimated at 7.8% and the growth rate is projected to be 6.5%
for FY26.
Key Points:
i.Indian economy achieved about an 8% growth rate in the first three-quarters (April 2023 – December
2023)of FY24.
ii.The growth rate was at 8.4% in the third quarter(Q3 – October to December 2023).
iii.Fitch’s forecast indicates that growth in the short term will exceed the estimated potential of the
economy and then the growth follows the trend of FY25.
Inflation:
i.Fitch predicts that the headline Inflation rate will be at 4% by the end of FY25 and the value will remain
almost unchanged in FY26.
ii.Inflation remained almost unchanged at 5.09% in February 2024, as high food inflation kept the retail
inflation from falling further
iii.Fitch expects a 50 basis point (bps) rate cut by the Reserve Bank of India (RBI) in the second half of
2024 (from July to December 2024).
Additional Info:
Fitch raised the global growth forecast to 2.4% from 2.1% projected earlier, due to the strong growth of
the United States of America (USA)’s economy.

AWARDS & RECOGNITIONS

Golden Book Award 2024: Author Rakhi Kapoor won the award for “Breaking
Free Embracing me“
Wings Publication International announced the winners of Golden Book Award 2024, which celebrates
and honours the outstanding authors and their literary works.
Author Rakhi Kapoor won her 2nd Golden Book Award for her 26th book titled “Breaking Free Embracing
Me: healing from childhood abuse and Toxic Conditioning”.
• She is a physiotherapist who pioneered the concept of prenatal counselling in India to enhance
maternal and fetal health outcomes.
• She previously won the award in 2023 for her 25th book titled “Now You Breathe: Overcoming
Toxic Relationships and Abuse”.
The winners of Golden Book Award 2024 includes Anupam Kher (Lessons Life Taught Me, Unknowingly:
An Autobiography); Raju S Jha (Drunken Manager); Gaurav Tiwari (Love. That Lasted Forever). Click here
for the complete list of winners of 2024

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APPOINTMENTS & RESIGNATIONS

Gyanesh Kumar & Dr. Sukhbir Singh Sandhu appointed as new Election Commissioners; Arun
Goel Resigns
On 15th March 2024, Retired Indian Administrative Service (IAS) officers Gyanesh Kumar and Dr.
Sukhbir Singh Sandhu took charge as the New Election Commissioners(ECs) in the Election Commission
of India(ECI).

• Gyanesh Kumar and Dr. Sukhbir Singh Sandhu are of 1988 batch from Kerala & Uttarakhand
cadre respectively.
• The post of ECs were vacant since the retirement of Anup Chandra Pandey on 14th February
2024 and resignation of Arun Goel on 8th March 2024.
Note: The appointment was made by a high-powered selection committee chaired by Prime Minister(PM)
Narendra Modi. The committee includes Union Minister Arjun Meghwal, Ministry of Law and Justice and
Leader of Opposition Adhir Ranjan Chowdhury.
Details of the appointment:
i.This appointment marks the inaugural instance of Election Commissioners being appointed under the
new Chief Election Commissioner (CEC) and other ECs (Appointment, Conditions of Service and Term of
Office) Act, 2023 brought in by the government in December 2023.
ii.Sukhbir Singh Sandhu was appointed as EC on 3rd February 2024 for a contract term of one year. His
tenure will end on 4th February 2025.
About Gyanesh Kumar:
i.Prior to his retirement in January 2024, he served as Secretary of the Ministry of Cooperation.
He has also served as Additional Secretary in the Ministry of Home Affairs(MoHA) and secretary in the
Ministry of Parliamentary Affairs.
About Sukhbir Singh Sandhu:
i.He served as the Chairman of the National Highways Authority of India (NHAI) and also as Additional
Secretary of the Department of Higher Education, Ministry of Human Resource Development.
iii.He was appointed as the Chief Secretary of Uttarakhand in 2021. He retired from the post in January
2024.
iv.On 3rd February 2024, he was appointed the Secretary to the Lokpal on a one-year contract.
Arun Goel resigned from the post of EC:
i.Election Commissioner Arun Goel resigned from his post as EC ahead of 2024 Lok Sabha elections.
ii.He was appointed as EC on 19th November 2022 and his tenure as EC was till 6th December 2027.
ii.Prior to taking voluntary retirement from service (VRS) from service on 18th November 2022, He
served as secretary at the Ministry of Heavy Industry.

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ENVIRONMENT
Begonia Narahari: New Flowering Plant Species Found in Mishmi Hills of Arunachal Pradesh
Scientists have discovered a new colourful flowering plant species, ‘Begonia Narahari’ in the Mishmi
Hills in Lohit district, Arunachal Pradesh. The findings were published in the international
journal Phytotaxa, the world’s largest journal in Botanical Taxonomy.
• The new species has been named after Prof. Garikapati Narahari Sastry, former director of the
Council of Scientific and Industrial Research (CSIR)-North East Institute of Science and
Technology (NEIST), Jorhat, Assam.
• The species was discovered by scientists from the University of Science & Technology
Meghalaya (USTM), Meghalaya and Council of Scientific and Industrial Research (CSIR)-North
East Institute Of Science And Technology (NEIST), Assam.
• The plant has a distinctive feature of displaying a vivid blue iridescence in direct light and it is
currently found only in the Demwe locality of Lohit.
• Following the International Union for Conservation of Nature (IUCN) species assessment
guidelines (IUCN, 2022), the species is classified as Data Deficient (DD) due to limited global
population information.
Note: Begonia is a genus of perennial flowering plants in the Begoniaceae family and is one of the largest
and fastest-growing genera of flowering plants. It is mainly found in the tropical and subtropical regions of
the world.

SPORTS
Ranji Trophy 2023-2024: Mumbai Wins their 42nd Ranji Trophy title by Defeating Vidarbha in
the finals
The Mumbai cricket team led by Ajinkya Rahane won the Ranji Trophy 2023-2024 season by defeating
Vidarbha led by Akshay Wadkar in the finals held at Wankhede Stadium in Mumbai, Maharashtra.
• This marks the Mumbai team’s 42nd Ranji Trophy and first trophy since 2016.

• The 89th edition of the Ranji Trophy, India’s premier domestic first-class cricket tournament,
was held from 5th January to 14th March 2024. The tournament witnessed the participation of
38 teams.
Prize Money & Other Awards:
i.The Mumbai team received the prize money of Rs. 5 crore as the winner, and the Vidarbha team received
Rs. 3 crore as the runners-up.
ii.Player of the series: Tanush Kotian (Mumbai)

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iii.Player of the match(Finals): Musheer Khan (Mumbai)

Records at Ranji Trophy:
Musheer Khan:
i.Mumbai’s Musheer Khan (age: 19 years and 14 days) surpassed the Sachin Tendulkar’s record and
became the youngest Mumbai player to score a century in the Ranji Trophy final.
ii.He scored 136 runs in the second innings of the Ranji Trophy final.
• Tendulkar scored a century in the Ranji Trophy finals (1994–95) against Punjab at the age of 21.
Tanmay Agarwal:
i.Tanmay Agarwal of Hyderabad scored 323 off just 160 balls against Arunachal Pradesh in a group-stage
match. This is the 7th most runs scored by any batter in a single day’s play in first-class cricket.
• He set a record for the most runs by an Indian batsman in a single day. He breaks Virender
Sehwag’s record of 284 runs made against Sri Lanka in 2009.
ii.He scored 300 runs with 147 balls, With this he became the world’s fastest triple-hundred scorer in
first-class cricket. Previously, the record was held by South Africa’s Marco Marais, who scored 300 runs
with 191 balls in 2017.
iii.He also became the fastest double-hundred scorer in first-class cricket in India. He scored 200 runs with
119 ball.
• He broke Ravishankar Jayadritha Shastri’s record of 200 from 123 balls against Baroda in 1985.
Tushar Deshpande and Tanush Kotian:
i.Mumbai’s Tanush Kotian and Tushar Deshpande became the second No. 10 and No. 11 pair to score
centuries in the same first-class innings.
• They also became the 1st No. 10 and No. 11 pair to score centuries in the same Ranji tropy
innings.
ii.Deshpande scored 123 runs, and Kotian scored 120 runs in the quarterfinal against the Baroda
team.Their partnership of 232 runs became the second highest for the 10th wicket in the Ranji Trophy.
Railways:
i.The Railways team broke the Ranji Trophy record for the highest-ever successful chase after chasing a
378-run target set by Tripura during the group stage match.
ii.Previously, the Saurashtra team chased down a 372-run target against Uttar Pradesh in the 2019–20
Ranji Trophy season.
Indian Fast Bowler Dhawal Kulkarni Announces Retirement from International and First Class
Cricket
i.Indian fast bowler Dhawal Kulkarni announced his retirement from international cricket and first-class
cricket after the Ranji Trophy Finals.
ii.He represented the Indian national team in 12 One Day International (ODI) matches and two Twenty20
Internationals (T20I). He took 19 wickets in ODIs and three wickets in T20Is for India.
iii.He was also part of Mumbai’s Ranji Trophy-winning team in the 2008–09, 2009–10, 2012–13, 2015–16,
and 2023–24 seasons.
iv.In his first-class career, he has a record of 285 wickets in 96 matches.
v.He played in the in the Indian Premier League (IPL) for the Rajasthan Royals, Gujarat Lions, and Mumbai
Indians.
About Ranji Trophy:
i.The Ranji Trophy is named after one of India’s first test cricketers, Ranjitsinhji, who played for England
and Sussex.
ii.The tournament’s first edition was held in 1934–35 and won by Bombay (now known as Mumbai)
iii.It is conducted by the the Board of Control for Cricket (BCCI).

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IMPORTANT DAYS
World Consumers Rights Day 2024 – March 15
World Consumers Rights Day (WCRD) is annually observed across the globe on 15 March to raise global
awareness of consumer rights, needs, protection, and empowerment.

The 2024 theme of WCRD is, ‘Fair and responsible AI for consumers’.
• The campaign emphasises safeguarding consumer search in the era of generative AI.
WCRD is annually coordinated by Consumers International, a membership organisation for consumer
groups around the world.
Background:
i.WCRD was inspired by John Fitzgerald Kennedy, the former President of the United States of America
(US), who sent a special message to the US Congress on 15th March 1962, in which he formally addressed
the issue of consumer rights.
• He was the first world leader to formally acknowledge the importance of consumer rights on a
global stage.
ii.WCRD was first observed on 15 March 1983.
Note: WCRD is acknowledged globally with support from the United Nations (UN) and other international
entities.
Significance:
i.WCRD emphasizes the need for transparency regarding the quantity, quality, and price of goods also
advocating for fair and ethical business practices worldwide.
ii.WCRD 2024 highlights concerns like misinformation, privacy breaches, discriminatory practices, and the
way Artificial Intelligence (AI)-driven platforms propagate false information and biases.
Basic Consumer Rights by John F Kennedy:
In 1962, John F Kennedy declared 4 basic consumer rights: the right to safety; the right to be informed; the
right to choose and the right to be heard.
Evolution and Adoption of UNGCP:
i.After global consultation, the United Nations General Assembly (UNGA) endorsed the UN Guidelines for
Consumer Protection (UNGCP) in April 1985, with subsequent updates in 1999 and 2015.
ii.The guidelines were developed to aid nations in establishing and maintaining adequate consumer
protection measures.
iii.They promote ethical conduct, market transparency, and conditions conducive to consumer
empowerment.
2024 Events:
During the week of WCRD 2024 (11 – 15 March 2024), Consumers International hosted a Generative AI
Dialogue and Debate series.

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Events in India:
i.Bureau of Indian Standard(BIS), the National Standards Body of India under the Ministry of Consumer
Affairs, Food & Public Distribution, celebrated WCRD as ‘Manak Mahotsav’ across India.
ii.Department of Consumer Affairs, Ministry of Consumer Affairs, Food and Public Distribution organised
an event to mark the WCRD 2024 at Thakur College of Engineering and Technology in Mumbai,
Maharashtra.
Union Minister Piyush Goyal unveiled Price Monitoring Dashboard
Union Minister Piyush Goyal, Ministry of Consumer Affairs, Food and Public Distribution unveiled a Price
Monitoring Dashboard for 22 essential commodities in Mumbai.
• The dashboard will monitor wholesale and retail prices of 22 essential commodities through
550 price monitoring centers across 34 States and Union territories.
Other launches:
i.The Union Minister also issued India’s first International Organization of Legal Metrology (OIML) pattern
approval certificate to private weighing and measurement manufacturers in Navi Mumbai.
• With this, India becomes the 13th country globally to grant this authorisation. It is mandatory
for exporting weighing and measurement instruments.
• Ahmedabad’s Regional Reference Standard Laboratory has been authorised for issuing
certificates.
ii.The Union Minister also launched the Central Consumer Protection Authority’s (CCPA) website to
facilitate consumer grievances.
iii.He virtually inaugurated integrated power transmission line equipment testing lab.
iv.He released a book titled ‘Consumer Protection and Legal Metrology in Ancient India’ and Amar Chitra
Katha’s booklets on Consumer Journey.
About Consumers International:
Director General– Helena Leurent
Headquarters– London, the United Kingdom (UK)

STATE NEWS
Chhattisgarh CM Vishnu Deo Sai Launched Krishak Unnati Yojna to Provide Input Assistance to
Paddy Cultivators
Chhattisgarh Chief Minister (CM) Vishnu Deo Sai launched ‘Krishak Unnati Yojna‘ to provide input
assistance to farmers, primarily paddy cultivators, during the event held at Saryu Prasad Agrawal Stadium
in Balod district,Chhattisgarh.

About ‘Krishak Unnati Yojna’:

Objective: To increase farmers’ income, boost crop production, and productivity, and reduce cultivation
costs. It also aims to ensure fair prices for crops.

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Key Points:
i.The input assistance will be provided based on the paddy purchased from the farmers.
ii.Under this scheme, the paddy of all the farmers of Chhattisgarh will be purchased at the rate of Rs. 3100
per quintal.
iii.Under this scheme, farmers will be provided input assistance at the rate of Rs 19,257 per acre on the
basis of paddy purchased from them
CM Transfered Rs 13320 crore to 24.75 lakh farmers :
i.Under the scheme, input assistance worth Rs 13,320 crore was transferred to the bank accounts of 24.75
lakh farmers through Direct Benefit Transfer (DBT).
ii.Out of this, 24.72 lakh farmers sold paddy in the Kharif marketing season 2023-2024. The paddy
cultivators were paid the difference amount of Rs 13,289 crore.
ii.More than Rs 31 crore was paid to 2,829 farmers producing paddy seeds through the seed corporation.
Paddy Price Support:
i.Farmers guaranteed Rs 3100 per quintal, with Rs 917 per quintal as additional support.
ii.Over 24 lakh farmers have sold paddy at cooperative societies and stand to benefit from the scheme.
Note: The government has already given a support price of Rs 2183 per quintal to the farmers.
About Chhattisgarh:
Chief Minister– Vishnu Deo Sai
Governor– Biswabhusan Harichandan
Wildlife Sanctuaries– Sarangarh-Gomarda Wildlife Sanctuary and Pamed Wild Buffalo Wildlife Sanctuary
Tiger Reserves– Udanti-Sitanadi Tiger Reserve and Achanakmar Tiger Reserve

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