# Joe biden

• Joe Biden officially assumed the presidency of USA on wednesday for a period of four years.

• Kamala Harris became the first women vice president of US.

• The transition of power was very violent as president trump had refused to step down as US president.

# Farm laws

• The 10th round of talks were held between the central government and farmers on wednesday.

• Centre has given a proposal of delaying the implementation of farm laws by 18 months and meanwhile forming a committee to discuss the farm laws.

• The supreme court has declined the central government plea to pass an order on tractor rally by farmers on 26th january.

# India innovation index

• Karnataka retained its leadership position in major states category in the second edition of “India innovation index”.

• The India innovation index was released by NITI aayog on wednesday.

• Karnataka was followed by maharashtra, which moved past Tamil Nadu to occupy the second place.

• Other states in top 10 are Telangana, kerela, Haryana, Andhra pradesh and Gujarat.

• Jharkhand, chattisgarh, and bihar scored the lowest on the index.

# Fiscal deficit

• The states are headed for a fourfold expansion in their revenue deficit this fiscal over the last year due to far lesser tax collections – crisil ratings said in a report.

• Tax collections may slowly improve with the improving economic outlook.

# Cotton corporation of India

• The cotton corporation of India (CCI) to export at least 10 lakh bales of cotton during the current season.

• The chief managing director of CCI informed that they have procured almost 85 lakh bales of cotton on MSP.

• The CCI has decided to export 10 lakh bales this season, majority of them to bangladesh.