- The project aims to transform Amaravati into a well-managed, climate-resilient hub in Andhra Pradesh (AP), creating jobs and improving the lives of residents, particularly the most vulnerable.
Main Point :-
(i) The World Bank (WB) and the Asian Development Bank (ADB) are supporting the first phase of Amaravati's development, which aligns with India's urban development goals. With the urban population projected to reach 950 million by 2050, Amaravati is set to serve as a model for sustainable cities.
(ii) Currently, around 100,000 people live in Amaravati, with the population expected to grow significantly in the next decade. A master plan has been developed for a 217 square kilometer area, designed to accommodate 3.5 million people by 2050.
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In December 2024, Hindustan Shipyard Limited (HSL), based in Visakhapatnam, Andhra Pradesh (AP), formed a strategic maritime partnership with Kongsberg Maritime, a leading provider of marine systems and solutions based in Kongsberg, Norway. This collaboration aims to supply advanced Replenishment-at-Sea (RAS) equipment for the Indian Navyβs (IN) fleet of five Fleet Support Ships (FSS), which will improve operational capabilities and logistical efficiency.
- In August 2023, the Ministry of Defense (MoD) signed a contract with Hindustan Shipyard Limited (HSL) for the acquisition of five Fleet Support Ships (FSS) for the Indian Navy, with an estimated cost of Rs 19,000 crore.
- Fleet Support Ships (FSS) are large naval vessels designed to provide essential support to the Indian Navy (IN). More than 50% of the components for the FSS project will be sourced locally, in line with India's vision of 'Atmanirbhar Bharat' (Self-Reliant India).
- The FSS will serve both military and humanitarian purposes. They can be used for emergency evacuations or to deliver relief supplies to areas affected by disasters during Humanitarian Aid and Disaster Relief (HADR) operations.
Main Point :-
(i) The delivery of these ships is expected to begin by mid-2027, with the keel-laying ceremony for the first ship taking place in November 2024 at HSL in Visakhapatnam.
(ii) These ships, weighing over 40,000 tonnes, will carry vital supplies such as fuel, water, and ammunition to warships, allowing them to operate far from ports.
(iii) The FSS will help the Navy stay operational for longer periods without needing to return to port.
About Hindustan Shipyard Limited (HSL)
CMD: Hemant Khatri
Headquarters: Andhra Pradesh (AP)
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Indian States Showcase Economic Resilience with Over 7% GSDP Growth Post-Pandemic.
India's states have exhibited strong economic resilience post-COVID-19, with 25 states recording over 7% growth in their Gross State Domestic Product (GSDP) during FY22 and FY23, as per the PHD Chamber of Commerce and Industry (PHDCCI) report. Among them, 17 states, including Gujarat, Kerala, Telangana, Rajasthan, West Bengal, Bihar, Karnataka, Uttar Pradesh, Haryana, and Odisha, achieved an impressive 9% growth rate. The report underscores the sectoral strengths contributing to India's economic growth, highlighting Punjab, Haryana, and Uttar Pradesh as leaders in agricultural production. Chhattisgarh, Madhya Pradesh, and Odisha have leveraged their industrial and mineral wealth, while Maharashtra, Gujarat, and Karnataka excel in industrial and technological advancements. Tourism-centric states like Kerala, Rajasthan, and Goa boost foreign exchange earnings. Infrastructure development in Tamil Nadu and Andhra Pradesh, along with renewable energy initiatives in Rajasthan and Gujarat, align with sustainable development goals. Improved connectivity in Northeastern states has transformed them into trade and tourism hubs. Human development achievements in Kerala and Tamil Nadu, coupled with initiatives like Gujarat's Vibrant Gujarat Summit and Telangana's IT corridor, have attracted foreign investments, amplifying India's global outreach. PHDCCI proposes a nine-pronged strategy to sustain and enhance state-level growth, focusing on improving ease of doing business, reducing costs, accelerating infrastructure development, promoting sustainable growth, boosting the services sector, and fostering skill development and innovation.
- Punjab, Haryana, and Uttar Pradesh lead in agricultural production.
- Chhattisgarh, Madhya Pradesh, and Odisha excel in industrial growth. Maharashtra, Gujarat, and Karnataka drive industrial and technological advancements.
- Kerala, Rajasthan, and Goa boost tourism and foreign exchange earnings. Tamil Nadu and Andhra Pradesh lead in infrastructure development. Rajasthan and Gujarat focus on renewable energy. Northeastern states improve connectivity, enhancing trade and tourism.
Main Point :-
(i) 25 states recorded over 7% GSDP growth in FY22 and FY23.
(ii) 17 states achieved over 9% growth, including Gujarat and Kerala.
(iii) PHDCCI proposes a nine-pronged strategy for sustained growth.
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Andhra Pradesh government and EESL collaborate to launch three programmes to boost energy efficiency
The Andhra Pradesh government, in collaboration with Energy Efficiency Services Ltd (EESL), has launched three programmes to enhance energy efficiency across the state. The initiatives include the URJAVEER programme, which aims to empower 1 lakh individuals as energy efficiency ambassadors, the distribution of energy-efficient appliances to economically vulnerable households under the Pradhan Mantri Awas Yojana (PMAY), and the National Efficiency Cooking Programme to promote electric cooking solutions. The programmes were launched in Vijayawada in the presence of Chief Minister N Chandrababu Naidu and Union Power Minister Manohar Lal. These initiatives are expected to drive energy efficiency, environmental sustainability, and economic empowerment in Andhra Pradesh.
- National Efficiency Cooking Programme promotes electric cooking solutions in Andhra Pradesh.
- Chief Minister N Chandrababu Naidu and Union Power Minister Manohar Lal attended the launch in Vijayawada.
Main Point :-
(i) The URJAVEER programme aims to empower 1 lakh individuals as ambassadors for energy efficiency.
(ii) Energy-efficient appliances to be distributed to economically vulnerable households under PMAY.
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RBI Revokes License of The Durga Co-operative Urban Bank.
The Reserve Bank of India (RBI) has cancelled the licence of the Durga Cooperative Urban Bank Limited, Vijayawada, Andhra Pradesh (AP), which had been operational for 95 years.
- This decision follows the bank's failure to meet regulatory capital requirements and operational standards as per the Banking Regulation Act, 1949.
- With the cancellation of its licence, Durga Cooperative Urban Bank is prohibited from conducting banking activities, including accepting and repaying deposits, effective from the close of business on November 12, 2024.
Main Points:-
(i) The RBI has instructed the Commissioner for Cooperation and the Registrar of Cooperative Societies, Andhra Pradesh, to initiate a winding-up order and appoint a liquidator for the bank.
(ii) Depositors are eligible for compensation up to Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC).
About RBI
CEO : Shaktikanta Das
Headquarter : Mumbai
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Renowned Mridangam Scholar Varadarao Kamalakara Rao Passes Away at 88.
Varadarao Kamalakara Rao, a world-renowned Mridangam scholar and disciple of Palghat Mani Iyer, passed away at the age of 88 in Rajahmundry, Andhra Pradesh (AP). Born on June 8, 1936, in Andhra Pradesh, Rao dedicated his life to the art of Mridangam, leaving behind a rich legacy.
- He was a recipient of several prestigious awards, including the Central Sangeet Natak Akademi Award and the Presidentβs Medal, awarded by then-President Sarvepalli Radhakrishnan.
- His performances transcended borders, with notable appearances at the United Nations (UN) Hall in New York, USA.
- Rao also featured in numerous All India Radio national music programs and special broadcasts on Doordarshan, contributing significantly to Indian classical music on a global stage.
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Andhra Pradesh (AP) Signs MoU with RIL to Invest Rs 65,000 Crore in 500 CBG Plants.
The Government of Andhra Pradesh (AP) has signed a Memorandum of Understanding (MoU) with Mumbai (Maharashtra)-based Reliance Industries Limited (RIL) to establish 500 compressed biogas (CBG) plants in the state over the next three years.
- This initiative involves an investment of approximately Rs 65,000 crore, with each plant costing Rs 130 crore.
- The MoU was signed in the presence of Andhra Pradesh (AP) Chief Minister (CM) N. Chandrababu Naidu, along with representatives of RIL and other state government officials, at the State Secretariat in Amaravati, AP.
- The project is expected to create approximately 2.5 lakh jobs, both directly and indirectly.
Main Points:-
(i) The plants will be part of Reliance's national target of setting up 2,000 CBG units.
(ii) This initiative aligns with AP's Integrated Clean Energy (ICE) Policy - 2024, which aims to attract investments worth Rs 10 lakh crore.
(iii) According to GOBARdhan (Galvanising Organic Bio-Agro Resources Dhan) data, there are only 109 functional CBG/Bio CNG plants in India.
About Andhra Pradesh (AP)
CM : N. Chandrababu Naidu
Governor : S. Abdul Nazeer
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Andhra Pradesh Govt Unveils Rs 2.94 Lakh Crore Budget for FY 2024-25.
The Government of Andhra Pradesh (AP), led by Chief Minister N Chandrababu Naidu, presented the Budget for the Financial Year 2024-25 (FY25) at Rs 2.94 lakh crore. Payyavula Kesav, AP's Finance Minister, presented his first budget in the Assembly in Amaravati, AP.
- The revenue expenditure has been pegged at Rs 2,35,916 crore, and the capital expenditure was Rs 32,712 crore.
- Rs 11,855 crore has been allocated for agriculture and allied sectors, and an amount of Rs 8,207 crore for the Energy Department.
- An allocation of Rs 4,285 crore is proposed for women, children, differently abled, and senior citizens' welfare.
Main Points:-
(i) The revenue deficit and fiscal deficit are at Rs 34,743 crore and Rs 68,742 crore respectively.
(ii) The fiscal deficit will be around 4.19% of the Gross State Domestic Product (GSDP), and the revenue deficit will be around 2.12% of the GSDP.
About Andhra Pradesh
Chief minister : N. Chandrababu Naidu
Governor : S. Abdul Nazeer
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