Current affairs 11 October 2024

India’s textiles sector to grow to USD 350 Billion by 2030.

• India’s textiles sector is witnessing significant growth, with a 11% year-on-year rise in Ready-Made Garments exports as of August 2024.
• The sector is expected to grow to USD 350 billion by 2030.
• PM MITRA Parks are projected to attract Rs 10,000 crore in investment and generate 3 lakh jobs across 7 locations.
• The PLI Scheme will drive investments in MMF Apparel & Fabrics and Technical Textiles.

India Launches "Study in India" Campaign at Sharjah Education Show.

• India officially launched its Study in India campaign at the 20th International Education Show in Sharjah, promoting Indian universities to international students.
• The campaign, organized by EdCIL, showcases over 590 Indian universities and offers benefits like fee waivers and scholarships
• The Study in India portal simplifies admissions for international students.

UPI wallet limit increased from 2 thousand to 5 thousand rupees.

• RBI has proposed to increase the transaction limit through UPI Lite to Rs 1,000 and the wallet limit to Rs 5,000.
• Currently, the transaction limit through UPI Lite is Rs 500 and Rs 2,000.
• UPI 123 Pay's limit has increased from ₹5,000 to ₹10,000, and it is now available in 12 languages.
• NEFT and RTGS will include beneficiary name verification, reducing fraud risks, similar to UPI and IMPS.

Cabinet approves National Maritime Heritage Complex in Lothal.

• The Cabinet has approved developing the National Maritime Heritage Complex (NMHC) at Lothal, Gujarat, to showcase India's 4,500-year-old maritime history.
• The project, to be completed in phases, will include museums, galleries, and parks, generating 22,000 jobs.
• Construction of Light House Museum under Phase 1B will be funded by Directorate General of Lighthouses and Lightships (DGLL).

Over 34 Lakh Tax Audit Reports Filed for AY 2024-25.

• More than 34.84 lakh audit reports, including 34 lakh Tax Audit Reports, have been filed for Assessment Year 2024-25.
• The Finance Ministry reported a 4.8% increase in Tax Audit Report filings compared to AY 2023-24.
• Extensive outreach programs were conducted to raise awareness and assist taxpayers with the e-filing process.