16th January 2024 Daily Current Affairs
National Affairs
1. India levies 50% export duty on sugar-derivative molasses
- India is the world’s largest molasses exporter and contributes about 25% to global trade.
- The Indian government has imposed a 50% export duty on molasses due to the potential decrease in domestic sugar production this season.
- According to an official notification from the Ministry of Finance, the proposed export duty will take effect on January 18, 2024.
National Affairs
2. Union Minister Launches Project for Artificial Reefs in Vizhinjam
- Union Minister of Fisheries Sri. Parshotham Rupala launched the project of depositing artificial reefs in the seabed in Vizhinjam, Thiruvananthapuram, via Videoconferencing.
- The project is aimed at increasing the income of fishermen by enhancing the fish population in the region.
- The project is being implemented under Pradhan Mantri Matsya Sampada Yojana with a total outlay of 13.02 crore.
- In the first phase, 6,300 artificial reefs will be laid in 42 fishing villages.
Banking & Finance
3. Government of India Launches Sovereign Gold Bonds 2023-24
- In a strategic move to channelize domestic savings into financial instruments, the Government of India has launched the Sovereign Gold Bond Scheme 2023-24 (Series III)
- Stemming from the inaugural scheme in Nov 2015 under the Gold Monetisation Scheme, aims to reduce the demand for physical gold.
- The scheme introduces a digital discount for online applications, enhancing the accessibility and attractiveness of secure gold investments to a diverse investor base.
