Current affairs 01 March 2024

Number of ultra-rich in India increased by 6% in 2023 to 13,263.

• The real estate consultant Knight Frank India released 'The Wealth Report 2024' saying that the number of UHNWIs in India grew 6.1% to 13,263 in 2023 as against 12,495 individuals in the previous year.
• On rising prosperity, the number of affluents would grow further to reach nearly 20,000 in India by 2028.
• 90% of affluents are expecting to witness an increase in their wealth during 2024.

PM Modi launched world's largest grain storage scheme.

• PM Modi informed that that 700 lakh tonne storage capacity will be created in the next five years, with an investment of ₹1.25 lakh crore.
• Under the scheme, thousands of warehouses and godowns will be constructed across the country.
• Modi inaugurated 11 godowns set up by 11 primary agricultural credit societies (PACS) across 11 states.

Singapore's total fertility rate fell below 1% for the first time.

• Singapore's Total Fertility Rate fell to a historic low of 0.97 in 2023, first time below one, signaling a deepening demographic challenge.
• A decline in both resident marriages and births reflects ongoing trends of fewer familial formations.
• Singapore's problem aligns with broader global patterns seen in European countries, Malaysia, and Thailand, exacerbating manpower shortages.

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PM unveiled India’s 1st hydrogen fuel cell ferry at Cochin Shipyard.

• The inauguration of the fuel cell ferry will provide impetus for using hydrogen in marine application as envisaged under National Green Hydrogen Mission.
• The fuel cell powered vessel has zero emission, zero noise and is energy efficient.
• It is part of the Harit Nauka initiative—a pilot project aimed at showcasing the technology for the maritime sector.

PM Modi to inaugurate NCL's first mile connectivity projects.

• PM Narendra Modi will inaugurate two significant First Mile Connectivity Projects (FMC) of Northern Coalfields Limited (NCL), a subsidiary of Coal India Limited (CIL).
• These projects, valued at Rs 1393.69 Crore spearheaded by Northern Coalfields Limited.
• These projects, after an inauguration, will usher in a new era of efficiency and sustainability in coal evacuation processes.