From 5,000 to 15,000: India's Organ Donation Revolution 😵‍

Friday, 4^th August

Good Morning ☕

Hold on to your kidneys and brace yourselves, folks, because India is going through a transplant revolution! No, no, not the kind where you switch places with your wacky neighbor (though that would make for an entertaining sitcom). We're talking about a massive increase in organ donations, and it's got the nation buzzing with excitement!

Picture this: back in 2013, organ transplants in India were as rare as finding a unicorn in your backyard. Less than 5,000 transplants were happening, and the chances of getting a new lease on life were as slim as convincing your mom that eating ice cream before dinner is a nutritious choice.

Important News of the Day

1. Organ donation increased from 5,000 to 15,000 annually since 2013: Mandaviya

India has seen a significant increase in organ donations, with the number of total organ transplants in the country rising from less than 5,000 in 2013 to more than 15,000 in 2022. The increase is attributed to the Hon’ble Prime Minister Shri Narendra Modi's call for organ donation in the 99th episode of “Mann Ki Baat” Programme. The number of organs per deceased donor being utilised has also increased due to better coordination through the network of Organ & Tissue Transplant Organizations at National, Regional, and State levels. In 2022, India saw 846 donations, the highest ever recorded. Despite the increase, the organ donation rate in India is still low compared to other countries.

2. Coal ministry transfers ₹704 crore upfront amount from mine auctions to state governments

The Ministry of Coal has transferred Rs. 704 crores upfront amount received from auction of coal mines to six coal bearing states, namely Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra, Odisha, and Telangana. The amount was transferred as part of the successful coal mine auctions. The transfer of funds is expected to help the states in their development activities and infrastructure projects. The auction of coal mines has been a significant source of revenue for the government, and the funds transferred to the states will help in the development of the coal-bearing regions.

3. India's 2023 oil demand growth revised by 14,000 bpd; to grow 11% in 2024

India's coal demand is expected to grow by about 11% in 2024, according to S&P Global Commodities. The Ministry of Coal has projected that coal demand will increase from 955.26 million tonnes (MT) in 2019-20 to 1.27 BT in 2023-24. In 2022, India's coal demand increased by more than 8% to a total of 1,155 MT. The coal production of Coal India Limited (CIL) and its subsidiaries accounted for 622.63 MT during 2021-22, showing a positive growth of 4.4%. The Ministry of Coal has transferred Rs. 704 crores upfront amount received from auction of coal mines to six coal-bearing states, which is expected to help the states in their development activities and infrastructure projects.

4. PM Modi to lay foundation stone for renovation of these 3 railway stations

Indian Prime Minister Narendra Modi will virtually lay the foundation stone for the renovation of Darshan Nagar and Bharat Kund Railway Stations in Faizabad under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) scheme on August 6. The Ministry of Railways has allocated ₹20 crore and ₹16 crore for the developments respectively. On the same day, he will also lay the foundation stone for the upgradation of the Mangaluru Junction railway station to international standards, a project costing ₹19.32 crore under the Amrit Bharat station scheme. These initiatives were announced during the 2023-24 budget speech, aiming to enhance the infrastructure of key railway stations across India.

5. Rise of local brands reflects increased buying power of ‘the masses’

A recent report suggests that the increasing trend of value-conscious consumers, particularly from the "masses" segment earning ₹2.5-10 lakh annually, could challenge national brands. The report builds on the faster growth of local brands compared to national ones in the fast-moving consumer goods (FMCG) sector, and a Redseer survey estimating that by 2030, the "masses" will represent 65% of the consumer goods market. However, for large purchases, the lower-income segments currently show signs of distress, with struggles in sectors like housing and two-wheeler sales.

Entrepreneur of the Day👨‍💼

Pavan Guntupalli, a co-founder of Rapido, previously co-founded Roppen Labs and worked as a software developer at Samsung Research India. He pursued his studies at the Indian Institute of Technology, Kharagpur, and holds a Btech degree in Electronics and Electrical Communications. Fluent in native languages and Korean, Pavan played a pivotal role in the growth of Rapido, an on-demand bike taxi platform.

Rapido was initially conceived as Karrier, focusing on a logistics and supply-chain model for transporting belongings. However, the founders recognized the potential for growth in the B2C space and shifted their focus to two-wheeler transportation services. The idea was to create an app, the Rapido captain app, allowing two-wheeler owners to register as captains and provide rides to users. The company's tagline, "Ride Solo," reflects their aim to offer reliable, convenient, and affordable short-distance travel solutions to the public.

The startup has experienced rapid growth and impressive financial performance. It reported a 12.5x jump in revenue, crossing the million-rides-per-day mark, and currently has 5,00,000 captains serving 10 million customers across 90 locations. Rapido's valuation has surged to around $800 million after a successful fundraising round led by Swiggy. The company has expanded its presence to over 100 Indian cities, garnered 15 million customers, and enlisted 1.5 million+ driver partners.

Breaking News: The Scoop You Can't Miss!

1. Employment in construction sector likely to grow to 100 million by 2030: Report

India's construction sector is labour-intensive and employs a significant portion of the workforce, with direct and indirect employment of 33 million in total. However, a large portion of the workforce is unskilled, and there is a shortage of skilled construction workers in India. The construction sector typically employs low-skilled labour, with around 84% of those working in construction being casual labour. The Indian construction industry employs around 51 million people, the second-largest employer, and contributes around 9% to the country's GDP. Additionally, it creates more than 45 million jobs either directly or indirectly. By 2022, the Indian construction space is predicted to become the largest employer and set to employ ~76 million people from the current levels of over 60 million.

2. CBI registered 135 cases against civil service officers in last 5 years: Jitendra Singh

According to Union Minister Dr. Jitendra Singh, the Central Bureau of Investigation (CBI) has registered cases against 166 civil service officers since 2018. During the last five years, including 2018, 2019, 2020, 2021, 2022, and 2023 (up to February 28, 2023), the CBI has registered 110 cases against 166 civil servants. The cases were registered under the Prevention of Corruption Act, 1988, and other relevant sections of the Indian Penal Code. The CBI has lodged 110 graft cases against 166 senior officers in the last five years. The government has taken several measures to prevent corruption and promote transparency in the civil service. The government has also introduced several reforms to improve the efficiency and effectiveness of the civil service and to ensure that civil servants are held accountable for their actions.

3. Supply chain resilience, resource partnerships key for India-Latin America ties

External Affairs Minister S. Jaishankar emphasised the need for deeper engagement between India and Latin America and the Caribbean (LAC) to strengthen trade and economic ties. He proposed a plan with four pillars to double the two-way trade between India and LAC countries to $100 billion by 2027. Jaishankar highlighted the importance of supply chain diversification and building resilient and reliable supply chains for energy security and food. He also mentioned the close friendship between India and Guyana as a testimony to the strong connections between India and Latin America.

4. Income tax: Capital gains exemption for non-construction of house within 3 years

The Indian government has reversed the exemption of capital gains tax under Section 54F for non-construction of a house within three years. The exemption will be reversed if the new house is sold within three years of its purchase or construction or if another house is purchased. The exemption is available only once in the lifetime of the seller and is subject to the capital gain not exceeding Rs 2 crore. The amount of exemption under Section 54 of the Income Tax Act for the long-term capital gains will be the lower of the capital gains or investment in the new property

5. Government restricts import of laptop, computers, tablets

The Indian government has imposed restrictions on the import of laptops, tablets, and personal computers with immediate effect. These products can only be imported if a valid licence for restricted imports is obtained. The move is aimed at boosting local manufacturing of these products. The restrictions apply to all types of laptops, tablets, and personal computers, except for those used for personal and research and development purposes.

World News 🌎

• US completes second round lottery; successful candidates informed.

• Supply chain resilience, resource partnerships key for India-Latin America relations: Jaishankar

• Typhoon Khanun causes massive destruction, uproots trees, floods roads

• ‘US Presidential Polls 2024’: Donald Trump's freedom or prison at stake, say experts

• Imran Khan: Pakistan military is 'petrified' of elections

• Canadian PM Justin Trudeau, wife Sophie to separate after 18 years of marriage

• North Korea confirms custody of US soldier

• UK PM Rishi Sunak's mansion scaled, black fabric hung in protest by Greenpeace activists

• Niger: US announces partial evacuation of embassy

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