Top 10 largest economies in the world in 2024

• Recently, India rose to the 5th position among the top 10 largest economies in the world in 2024 according to the World Economic Outlook 2024

About:

• The world’s largest economies in 2024 include the United States of America, China, Japan, Germany, and India, according to their GDP data. 
• Metric for Calculation: GDP serves as a vital metric for measuring a nation’s economic size. 
• Method: The traditional method for calculating a country’s GDP involves the expenditure approach, which combines spending on new consumer goods, investments, government expenditures, and the net value of exports.

Top Economies of the World:

• United States of America: With a GDP exceeding $26 trillion, the United States remains the world’s largest economy
• China: China’s economy has experienced rapid growth in recent decades, reaching a GDP of around $18.53 trillion in 2024.
• Germany: The third-largest economy in the world, with a GDP of $4.4 trillion, Germany’s strong manufacturing sector, particularly in the automotive and engineering sectors, contributes to its $4.30 billion GDP in 2024.
• Japan: Japan is the fourth-largest, most developed, and most technologically advanced economy, with a GDP of $4.11 trillion in 2024. 
• India: The fifth largest economy in the world, India’s economy with a GDP exceeding $3.94 thousand billion in 2024 is on a fast track currently. 

National Forensic Infrastructure Enhancement Scheme (N.F.l.E.S.)

• Recently, the Union Cabinet has approved a Central Sector Scheme called the “National Forensic Infrastructure Enhancement Scheme” (NFlES).

National Forensic Infrastructure Enhancement Scheme (NFIES):

• Aim: The scheme envisions expanding the Central Forensic Sciences Laboratory (CFSL) network and establishing additional campuses for the National Forensic Sciences University (NFSU).
  • The scheme also includes plans to enhance the infrastructure at the Delhi campus of the NFSU.
• Financial Outlay: The scheme has a total financial outlay of Rs. 2254.43 crore for the period from 2024-25 to 2028-29.

Importance of the Scheme:

• Linked to New Laws: The approval comes in light of the impending enactment of new criminal laws, which mandate forensic investigations for offences carrying a punishment of seven years or more.
• Increase in Workload: The new laws are expected to significantly increase the workload of forensic science laboratories (FSLs) across India, which are already struggling with backlogs.
• Tackling Shortage of Manpower: The scheme aims to tackle the shortage of trained forensic personnel, reduce the backlog in forensic laboratories, and support the Government of India’s objective of achieving a conviction rate exceeding 90%.

Krishi Sakhi

• Recently, the Prime Minister recently awarded certificates to over 30,000 women from Self Help Groups (SHGs) as Krishi Sakhis.

Krishi Sakhi Convergence Programme (KSCP):

• About: It is an initiative under an MoU between the Ministry of Agriculture and Farmers’ Welfare and the Ministry of Rural Development aimed at improving the skills of rural women.
• Training and Certification: KSCP trains rural women, called Krishi Sakhis, as Para-extension Workers. 
  • They undergo a 56-day comprehensive training covering soil health, integrated farming systems, livestock management, and agroecological practices.
• Extension of ‘Lakhpati Didi’ Programme: KSCP extends the government’s ‘Lakhpati Didi’ initiative, aiming to empower women through economic self-sufficiency opportunities.
  • The program aligns with the goal of transforming rural women into skilled para-extension workers.
• Number of Krishi Sakhis: As on date 34,000 Krishi Sakhis out of 70,000 have been certified as Para-extension Workers.

Juneteenth

• Juneteenth is annually observed on June 19th.

Juneteenth:

• About: It is the oldest nationally recognized celebration marking the end of slavery in the United States, also referred to as Emancipation Day or Juneteenth Independence Day.
• Emancipation Proclamation: On January 1, 1863, President Abraham Lincoln issued the Emancipation Proclamation, proclaiming that “all persons held as slaves” within rebellious states “are, and shall be forever free.”

Thailand to become third Asian country to legalise same-sex marriage

• Recently, the Marriage Equality Bill was overwhelmingly approved by Thailand’s Senate, the upper house of the National Assembly.

Details of the Bill:

• Gender Neutrality: The bill updates Thai marriage laws by substituting gender-specific terms such as “husbands” and “wives” with gender-neutral alternatives like “spouse” and “person.” 
  • This modification enables any two individuals, irrespective of their gender, to enter into marriage.
• Rights for Same-Sex Couples: Same-sex couples will enjoy equal rights in several legal and practical areas:
• • Adoption: Same-sex couples have the right to adopt children.
  • Inheritance: They can inherit property from their spouses.
  • Taxation: Similar tax benefits as heterosexual married couples.
  • Legal Decision-making: They can make legal decisions for their spouses, such as medical treatment consent.
• Recognition: The bill guarantees legal recognition and protection for same-sex marriages, offering stability and legal certainty to LGBTQ+ couples in Thailand.

World Refugee Day 2024:

• World Refugee Day is annually celebrated globally on June 20th

World Refugee Day

• History: World Refugee Day began with a regional focus. After the UN (United Nations) defined refugee rights in 1951, Africa established a day to honour them in 1970. 
• Recognizing Contributions: Later, acknowledging the worldwide refugee crisis, the UN General Assembly took a global approach in 2000, designating June 20th as World Refugee Day. 
• Theme: World Refugee Day 2024 official theme is “Everyone is Welcome.” 

Refugee 

• Definition: A refugee is someone who is outside their country of nationality or habitual residence due to a well-founded fear of persecution based on race, religion, nationality, membership in a particular social group, or political opinion. 
  • They are unable or unwilling to return to their country for fear of persecution and are entitled to international protection under the UN Refugee Convention and its protocol.
• Asylum-Seeker: An asylum-seeker is an individual who claims to be a refugee but whose refugee status has not yet been determined through evaluation.
  • If their claim is substantiated upon evaluation, they are recognized as a refugee.

Container Port Performance Index

• Recently, 4 ports of Adani Ports feature in World Bank’s global ‘Container Port Performance Index’

Container Port Performance Index:

• About: A method to assess performance based on how long ships stay in port.
• Developed: Developed by the World Bank and S&P Global Market Intelligence.
• Importance: Helps find ways to improve ports and terminals, benefiting everyone involved. 
• Top container port: Yangshan Port in China.
• Indian Ports: Mundra port was ranked 27, Kattupalli came in at number 57, Hazira at 68 and Krishnapatnam at 71.