10.12.22 Daily [Uttar Pradesh] UPPSC Current Affairs

Team Yogi, which has succeeded in garnering foreign for the state through roadshows overseas, has signed a memorandum of understanding (MoU) with Austin University in San Francisco, USA, to build a Knowledge Smart City at a cost of $42 billion (about Rs 35,000 crore).

To be built on 5,000 acres of land, the Knowledge Smart City will include the best universities of the world. Besides, Star Consortium will provide data centre and Logistics Services in the state whereas SLG will build a Capital Data Centre. With these investment proposals and MoUs, thousands of EMPLOYMENT opportunities will be available to the people of the state.

It is notable that Chief Minister Yogi Adityanath has set a target of attracting investments of Rs 10 lakh crore through the Global Investors Summit to be held in Lucknow between February 10 and 12. To fulfill this goal, Yogi has sent eight teams of ministers and officials to 18 countries to attract investment through roadshows and trade shows.

The US-based Saloni Heart Foundation has also signed an MoU in the presence of Uttar Pradesh Finance Minister Suresh Khanna and Additional Chief Secretary, (Infrastructure and Industrial Development) Arvind Kumar in San Francisco, USA.

The Uttar Pradesh State Industrial Development Authority (UPSIDA) signed an agreement with Star Consortium Pvt. Ltd for data centre and logistic services in Uttar Pradesh. Through this MoU, an investment of Rs 2000 crore will be made in Uttar Pradesh and hundreds of people will get employment opportunities in the state.

Similarly, an MoU was signed with Singapores SLG Capital for setting up a data centre in the state. With the investment of $100 crore (Rs 8,273 crore), the state will get employment opportunities along with technical Growth.

In the Independence Day speech on August 15, 2021,thePrime Minister announced the launch of National Hydrogen Mission. The Ministry of New and has accordingly prepared a draft Mission document which inter-alia proposes to support production and deployment of Green Hydrogen.

Green Hydrogen can potentially be used to replace fossil fuels and fossil fuel based feedstocks in a number of sectors inter alia including fertilizer production, petroleum refining, steel production and transport applications.

Aam Aadmi Party(AAP) led by Arvind Kejriwal is all set to become the latest political outfit to get the status of ‘national party’ as the counting of votes is underway in recently concluded Gujarat Assembly . For AAP to get the status of the national party it will require atleast 6% vote share and needs to win atleast two seats.

To earn a national party status, a political party needs to be recognized in at least four states, and to be recognised as a state party, it needs to win at least two seats and 6 per cent of votes polled in the Assembly election. In other words, AAP needs to win just two seats and secure 6 per cent of votes

The Ministry of Road Transport and Highways (MoRTH) will launch India’s first-ever surety Insurance product on December 19 to boost liquidity in the Infrastructure sector.

While surety bonds refer to the performance or delivery obligation to complete the insured project, the corporate bonds refer to financial obligation to repay the debts or loans.

The European Union has given Croatia the green Light to begin using the euro and join theSchengen zone from next year.

The country will join 19 other EU member states that use the currency.

It will adopt the currency from 1 January 2023, making Croatia the latest nation to join the eurozone since Lithuania in 2015.

From next year, it will mean that just seven EU countries still use their own currency.

By adopting the euro, the eastern European nation hopes to gain more financial security and improve the living standards of its citizens.

Croatia will also benefit economically from closer financial links with the single currency areas other members and the European Central Bank.

As Croatia becomes the 20th EU nation to adopt the euro, there are still a number of members that havent taken this step.

In total, seven EU countries dont use the euro: Bulgaria, Czech Republic, Denmark, Hungary,Poland, Romania, and Sweden.