PRELIMS 2025

n) IAS
(Ja
25

20
24
-
20
ECONOMY
CURRENT AFFAIRS
ANNUAL
COMPILATION
Covers All the Major Sources Including
PIB Indian Express
Economic Times RBI , M/o Finance Websites
International Sites Drishti
Insights Vision

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8287115435
WWW.XIAS.IN

TELEGRAM
WWW.XIAS.IN @X_IAS
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 www.xias.in/courses
SOURCE: THE HINDU • Base year: 2011-12.

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FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT
(FRBM) ACT
Recent Update: The FRBM Review Committee under
• Focus on bulk goods traded between
organizations.

N.K. Singh recommends a debt-to-GDP ratio of 60% CONSUMER PRICE INDEX (CPI)
by 2025.
About: www.xias.in/courses
• Enacted in 2003 to enforce fiscal discipline,
Recent Update:
CPI tracks retail-level price changes in a broad range
of goods and services.
transparency, and accountability. About:

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• Amended 4 times (2004, 2012, 2015, 2018).
• Sets goals for fiscal consolidation, aiming for a
fiscal deficit below 4.5% of GDP by FY 2025-
• Published monthly by the National Statistical
Office (NSO).
• Base year: 2012.
26. • CPI All India (Combined) used for inflation

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• Provides exemptions for deviations due to
national security or calamity.
• Mandatory documents include the Medium-
targeting by RBI.
• Categories: Food & Beverages (45%), Housing
(10%), and more.

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Term Fiscal Policy Statement and Fiscal Policy
Strategy Statement. KODO MILLET
• Escape clause: Allows RBI to participate in Recent Update:
primary bond auctions for deficit financing. Kodo millet is a drought-tolerant, nutrient-rich crop

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NET BORROWING CEILING (NBC)
Recent Update: NBC limits state borrowings, requiring
Centre’s consent for loans if previous loans are
grown primarily in tribal regions.
About:
• Rich in vitamins, minerals, protein, and fiber.
• Grown in Gujarat, Madhya Pradesh, and
outstanding.
About:
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• Imposed under Article 293(3) of the
Constitution.
other states.
• Cyclopiazonic acid can cause poisoning under
specific conditions.

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• Governs all state borrowings, including open
market loans and financial institution loans.
• Aims to control state-level debt accumulation
and ensure fiscal discipline.

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Recent Update:
FOOD INFLATION

Food inflation is a key economic indicator that tracks

About:
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the rate at which food prices rise.

• Measured through the Consumer Price Index

(CPI) and Wholesale Price Index (WPI).
Recent Update:
COFFEE CULTIVATION

India is the 6th largest coffee producer, with Araku

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• CPI includes food at 46% weightage.
• Volatile food and energy prices influence core
inflation.
Valley Coffee receiving a GI tag.
About:
• Major producers: Karnataka, Kerala, Tamil
Nadu.

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WHOLESALE PRICE INDEX (WPI)
Recent Update:
WPI tracks wholesale prices of goods, not including
services.
• Coffee requires humid climates, hill slopes,
and specific rainfall.
• Caffeine provides health benefits such as
reducing oxidative damage.
About:
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• Covers 697 items, with key sectors:
Manufactured Products (65%), Primary
Articles (20%), and Fuel (15%).
• Released monthly by the Office of Economic
Advisor.

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 www.xias.in/courses • Launched under the Employees’ Pension

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Scheme 1995.
Benefits: No need to transfer PPOs and
flexible banking options.
• Part of EPFO’s IT modernization initiative.

www.xias.in/courses SERIOUS FRAUD INVESTIGATION OFFICE (SFIO)

Recent Update:
SFIO investigates corporate frauds, operating under

www.xias.in/courses the Ministry of Corporate Affairs.

About:
• Established in 2015.
• Focus on white-collar crime detection and

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Recent Update:
RUBBER

India is the 6th largest producer of natural rubber,

prosecution.
• Headquartered in New Delhi, with regional
offices in major cities.
primarily from Kerala.
About:
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• Major producer: Para Rubber tree.
• Requires tropical climate, well-drained soil,
FAME-INDIA SCHEME PHASE II
Recent Update:
Phase II promotes electric vehicles with increased

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and high humidity. subsidies and charging infrastructure.
• Natural rubber is superior for its tensile About:
strength. • Launched in 2019.
• Focus on electric buses, 3W, 4W, and 2W for

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• Targets EV demand and charging stations.

GLOBAL ACCESS TO NUTRITION INDEX (GANI) 2024

www.xias.in/courses Recent Update:

Nestlé topped the 2024 GANI, ranking companies on
nutrition-related policies.
About:

www.xias.in/courses • Published by Access to Nutrition Initiative

(ATNI).
• Evaluates 30 largest food companies on
product healthiness.

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MARINE PRODUCT EXPORT DEVELOPMENT

Recent Update:
AUTHORITY (MPEDA)
• Focus on lower-income markets and
healthier food availability.

CARICOM
MPEDA promotes the export of marine products and

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regulates related industries.

• Established in 1972, headquartered in Kochi,

Recent Update:
CARICOM seeks regional integration and economic
cooperation across 21 Caribbean nations.
About:
Kerala.

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• Regulates offshore fishing, marine product
standards, and export.
• Trade promotion offices in New York, Tokyo.
• Established in 1973, includes 15 member
states.
• India-CARICOM Summit held to enhance
cooperation in key sectors like renewable

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CENTRALISED PENSION PAYMENTS SYSTEM (CPPS)
Recent Update:
CPPS enables seamless pension disbursements across
energy and agriculture.

all banks in India.

About:

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 www.xias.in/courses protection), agrotextiles, protective

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clothing.
Significance:
o India lags in utilizing the full potential
of technical textiles.

www.xias.in/courses •
o Potential for flood management and
environmental degradation solutions.
National Technical Textiles Mission:
o Goal: Position India as a global leader.

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PAN 2.0 PROJECT
o Funding: ₹1,480 crore (2020-2024).
o Focus on research, export promotion,
and skill development.

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Recent Update:
PAN 2.0 streamlines taxpayer services, introduced
under Digital India.
About:

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• E-governance initiative by the Income Tax
Department.
• Serves as a universal identifier across
government systems.

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BASIC ANIMAL HUSBANDRY STATISTICS (BAHS) 2024
Recent Update:
India continues to lead in milk production globally,

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with a 5.62% growth in milk output.

• 239.30 million tonnes of milk produced.

OPERATIONAL FRAMEWORK ON RECLASSIFICATION
OF FPI TO FDI
Recent Update: The RBI recently released an
• India ranks 2nd in egg production, with top

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states like Andhra Pradesh.

GLOBAL WAGE REPORT (2024-25)

operational framework for the reclassification of
Foreign Portfolio Investment (FPI) into Foreign Direct
Investment (FDI), guided by the Foreign Exchange
Management Regulations, 2019.

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Recent Update:
About:
ILO's report shows a recovery in real wage growth
• Present Framework: FPIs can hold up to 10%
and highlights global wage inequality trends.
About: of an Indian company's equity capital.
• New Framework:

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• 9.5% of Indian workers are low-paid.
• Wage inequality highest in low-income
countries.
• Labour productivity growing faster in high-
o Reclassification of FPI to FDI is
allowed, but government approval is
required.
o Not applicable for sectors prohibited

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income countries.

SOURCE: PIB
TECHNICAL TEXTILES
for FDI like Chit funds, gambling, etc.
o Investments must adhere to sectoral
caps, FDI conditions, and require
permission from Indian companies

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Recent Update:
The Ministry of Textiles approved 12 new research
projects under the National Technical Textiles
Mission (NTTM), raising the total to 168.
and neighboring countries.

SCHEME FOR STRENGTHENING THE MEDICAL DEVICE

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About: INDUSTRY
• Definition: Textiles made for functional
Recent Update: The Ministry of Chemicals and
performance rather than aesthetics. Fertilizers launched a ₹5000 crore scheme to
strengthen the medical device industry with 5 sub-
• Applications:
schemes aimed at improving infrastructure and
o Automotive, medical textiles
reducing import dependency.
(implants), geotextiles (flood
About:

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 •
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Sub-Schemes: • Coverage: Insurance for crops from pre-

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o Common Facilities for Clusters:
Creation of shared R&D labs, testing
centers, and animal labs.
•
sowing to post-harvest stages.
Premium: Fixed at 1.5% for rabi, 2% for kharif,
and 5% for commercial crops.
o Marginal Investment Scheme: Focus • Eligibility: Available to all farmers growing

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on local production of key
components.
o Capacity Building & Skill •
notified crops, with compulsory coverage for
loanee farmers.
Ministry: Administered by the Ministry of
Development: Support for skilled Agriculture.

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workforce in medical devices.
o Clinical Studies Support: Financial aid
for animal studies, human trials, and
clinical evaluations. SOURCE: INDIAN EXPRESS

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o Medical Device Promotion:
Encourages industry associations and
export councils to organize
DOMESTIC SYSTEMICALLY IMPORTANT BANKS (D-
SIBs)
Recent Update: The Reserve Bank of India (RBI)
conferences and conduct studies.

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retained State Bank of India, HDFC Bank, and ICICI
Bank as Domestic Systemically Important Banks (D-
GOBARDHAN SCHEME SIBs).
Recent Update: The GOBARdhan Scheme was About D-SIBs:
• Introduced: By RBI in 2014.

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launched to convert organic waste into biogas and
biofertilizers under the Swachh Bharat Mission • Definition: Banks that are “Too Big To Fail
(Gramin). (TBTF)” due to their size, interconnectedness,
About: and critical role in the economy.
• Objective: Generate wealth and energy by

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converting cattle dung and agricultural
residue into biogas, CBG, and biofertilizers.
• Implementation: A multi-ministerial initiative
• Importance: Their failure could disrupt the
financial system and the broader economy.
• D-SIBs in India:
o State Bank of India (SBI) (2015)

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managed by the Ministry of Jal Shakti. o ICICI Bank (2016)
• Focus: Encourage rural waste management o HDFC Bank (2017)
and support clean energy initiatives.
CENTRAL VALUE ADDED TAX (CENVAT) CREDIT

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ATAL MISSION FOR REJUVENATION AND URBAN
TRANSFORMATION (AMRUT) 2.0
Recent Update:AMRUT 2.0 aims for 100% water
supply and sewerage coverage in 4,700 urban local
Recent Update: The Supreme Court allowed telecom
companies to claim CENVAT credit for mobile tower
and prefabricated buildings (PFBs).
About CENVAT:

About:
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bodies by 2026.

• Objective: Provide tap connections and

sewerage to all households.
• Definition: A tax credit system for
manufacturers or service providers to claim a
set-off on excise duty or service tax paid.
• Governing Rules: Implemented under

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• Sustainability: Promote circular economy and
water conservation through the City Water
Balance Plan.
• Technology: Leverage global technologies for
CENVAT Credit Rules, 2004.
• Criteria for Credit:
o Inputs: Goods used in the production
process.

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water management.
• Survekshan: Introduced to promote
competition among cities for water quality
management.
o Capital goods: Machinery integral to
production.
o Output services: Taxable services
offsetting service tax liabilities.

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PRADHAN MANTRI FASAL BEEMA YOJANA (PMFBY)
Recent Update:PMFBY continues to provide financial
support and risk coverage to farmers against crop
o Partial Processing: Credits allowed for
partially processed goods.

AGRIVOLTAIC FARMING
losses. Recent Update: The International Solar Alliance (ISA)
About: session in New Delhi highlighted agrivoltaic farming,

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 www.xias.in/courses
integrating agriculture with solar energy. Recent Update: The Marine Fisheries Census 2025

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About Agrivoltaic Farming:
• Definition: Combining agriculture and solar
energy generation on the same land.
was launched to enhance fisheries sector data
collection.
About Census:
• How it Works: • Process: Fully digital using mobile apps and

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o Elevated Panels: Solar panels raised
to allow crops beneath.
o Panel Angling and Spacing: Optimized
virtual servers.
• Coverage: 1.2 million households across
India’s coastline, including remote locations.
for both solar energy and crop • Data Collected: Household sizes, socio-

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growth.
o Shade and Protection: Panels provide
shade, protecting crops from heat
economic status, and fisherfolk engagement.
• Speed: 80% faster data processing compared
to previous censuses.
stress.

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o Water Conservation: Shading reduces
evaporation, conserving soil moisture.
SEAPLANE SERVICE
Recent Update:Andhra Pradesh launched its first
seaplane service, connecting Vijayawada and

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Srisailam.
About Seaplane:
• Definition: A fixed-wing aircraft designed for
water takeoff and landing.
• Types:

www.xias.in/courses o Flying boats: Hull floats on water, no

land operations.
o Floatplanes: Equipped with pontoons

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URAD AND TUR IMPORTS beneath the fuselage.
Recent Update:India increased Urad imports from India’s Seaplane Project:
Brazil, reaching over 22,000 metric tonnes, • Objective: Enhance regional air connectivity
strengthening Brazil’s role as a major supplier. and promote tourism.

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About Urad: • First Project:Gujarat (2020), connecting
• Scientific Name:Vigna mungo (Black gram). Sabarmati Riverfront to Statue of Unity.
• Uses: Essential in Indian cuisine, often used as
dal. BIBEK DEBROY COMMITTEE’S ON RAILWAYS

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• Global Cultivation: Grown in regions like
Caribbean, Fiji, Myanmar.
About Tur:
• Scientific Name:Cajanus cajan (Pigeon pea).
Recent Update: Several key recommendations from
the Bibek Debroy Committee (2015) on Indian
Railways remain unimplemented.
About Recommendations:

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• Uses: Staple in South Asia, Southeast Asia,
and Africa.
• Global Spread: Cultivated in Latin America
and the Caribbean.
1. Liberalization (Not Privatization): Allow
private operators for growth.
2. Empowering Field Officers: Decentralization
to empower GMs and DRMs.

www.xias.in/courses 3. Railway Board Restructuring: Chairman

redesignated as CEO (Implemented in 2020).
4. Independent Rail Regulator: Establish Rail
Development Authority (RDA) for pricing and

www.xias.in/courses competition (Approved in 2017, limited

functioning).

SOURCE: VISION MONTHLY

www.xias.in/courses LARGE TRADE AGREEMENTS

Recent Update: NITI Aayog CEO suggested India join
the RCEP and CPTPP.
About:
MARINE FISHERIES CENSUS 2025

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 •
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RCEP: FTA between ASEAN + Australia, China, Recent Update: 21st Livestock Census launched in

•
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Japan, South Korea, and New Zealand,
covering 30% of global GDP.
CPTPP: FTA among 11 countries, including
October 2024.
About:
• Digitized Process: Collects data on 16
Japan, Canada, and Australia, constituting livestock species and 219 breeds.

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11.4% of global GDP.
India's Position: Pulled out of RCEP in 2019;
CPTPP may offer strategic economic benefits.
• Focus: Gender roles, livestock diseases, and
breed improvement.

WORLD ORGANISATION FOR ANIMAL HEALTH

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DIRECT BENEFIT TRANSFER (DBT)
Recent Update: Women’s DBT through schemes
crossed ₹2 trillion in 2024.
(WOAH)
Recent Update: ICAR-NRC Equine granted WOAH
Reference Laboratory status.
About: About:

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• Launched: 2013, to improve cash subsidy
delivery.
• Key Schemes: Includes PM-KISAN, pensions,
• WOAH: Global organization focusing on
animal health.
• India’s Role: Expertise in Equine

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and food subsidies. Piroplasmosis recognized.
• Mechanism: Utilizes JAM Trinity (Jan Dhan,
Aadhaar, Mobile) and UPI for seamless NANO FERTILIZERS
payments. Recent Update: Indian scientists developed a

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nanomaterial coating for Muriate of Potash (MoP).
RURAL NON-FARM ECONOMY (RNFE) About:
Recent Update: "State of Rural Youth Employment • Nano Fertilizers: Controlled release of
2024" report reveals rural youth prefer non-farm jobs. nutrients, promoting sustainable farming.
About:

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• RNFE Activities: Includes agro-processing,
construction, tourism, and retail.
• Economic Shift: Two-thirds of rural income
• Benefits: Reduces wastage, improves nutrient
absorption, and lowers costs.

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now from non-agricultural activities.
• Importance: Significant contribution to India’s
manufacturing value.

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FOOD CORPORATION OF INDIA (FCI)
Recent Update: CCEA approved ₹10,700 crore for
FCI’s working capital for 2024-25.
About:

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• Established: 1964, under Ministry of
Consumer Affairs.
• Functions: Responsible for procurement,
storage, and distribution of food grains.
MORMUGAO PORT AUTHORITY
Recent Update: Recognized for Green Ship Incentives
on the Environmental Ship Index (ESI) platform.
About:

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• Financial Support: Equity infusion for
operational efficiency.

VENTURE CAPITAL FUND FOR SPACE SECTOR

• Mormugao Port: Located in Goa, focuses on
decarbonization and green shipping.
• Harit Shrey Scheme: Incentivizes ships with
low emissions.

About:
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Recent Update: Government approved a ₹1,000 crore
VC Fund for the Space Sector.

• Purpose: To support space startups across the

BIHTA DRY PORT
Recent Update: Bihar’s first Dry Port inaugurated in

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Bihta near Patna.
supply chain. About:
• Investment: ₹10-60 crore per startup, • Significance: Boosts exports and improves
targeting 40 startups. logistics for Eastern India.
• Operational Period: 5 years. • Connectivity: Links major ports like Kolkata
and Visakhapatnam.
21ST LIVESTOCK CENSUS

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WORLD INTELLECTUAL PROPERTY INDICATORS 2024 o Legal Protections and job security for

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REPORT
Recent Update: India ranks 6th globally in patent
filings, with a surge in IP activity.
o
workers.
Access to social security, such as
health insurance and retirement
About: savings.

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• Patents: India granted 1.03 lakh patents in FY
2023-24.
• Trademarks: 2nd highest active registrations
o
o
o
Stable income with fixed salaries.
Transparency and tax compliance.
Economic participation with greater
globally. access to financial services.

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• Challenges: Issues like evergreening of
patents and IP appeals. PRODUCTION LINKED INCENTIVE SCHEME
Recent Update: India’s PLI Scheme, launched in 2020,
UNIFORM PROTECTION PROTOCOL

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aims to turn India into a global manufacturing hub,
Recent Update: Central Electricity Authority incentivizing investments and self-reliance.
approved Uniform Protection Protocol for the Indian About:
Grid. • Definition: Financial incentives for companies

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About: to manufacture in India based on incremental
• Purpose: Ensure grid stability and support production.
450 GW renewable energy integration by • Focus Areas:
2030. o Encourages self-reliance, export
• Focus: Coordination of protection systems to

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boost, and job creation.
avoid grid disruptions. o Critical sectors covered:
▪ Electronics, pharmaceuticals,
SOURCE: INSIGHTS MONTHLY automobiles, renewable

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CORPORATE SOCIAL RESPONSIBILITY
Recent Update: India’s Corporate Social
Responsibility (CSR) framework has seen investments
of ₹1.84 lakh crore from 2014 to 2023, with a rising
energy, and more.

DEDICATED FREIGHT CORRIDORS

Recent Update: India’s Dedicated Freight Corridors

About:
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focus on agricultural sustainability.

• CSR Definition: Corporate initiatives targeting

societal, environmental, and economic
(DFCs) are enhancing rail freight efficiency,
contributing to GDP growth and improved
infrastructure.
About:

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development.
• Legal Basis: Governed by Section 135 of the
Companies Act, 2013.
• Mandatory CSR: For companies with net
• What are DFCs? Specialized rail tracks for
freight transport, increasing capacity and
reducing transit time.
• Operational Corridors:

CSR.
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worth ₹500 crore, turnover ₹1,000 crore, or
net profit ₹5 crore, requiring 2% of profits for

• Penalties: Companies failing to meet CSR

o Eastern DFC: 1,856 km from Ludhiana
to Dankuni.
o Western DFC: 1,504 km from Dadri to
JNPT.

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obligations face fines or imprisonment.
• 2019 Amendment: Unspent funds must be
transferred to a specified fund by year-end.
• Impact: Enhances port connectivity, boosts
exports, and reduces logistics costs.

WORLD SOLAR REPORT SERIES

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FORMALISATION OF ECONOMY
Recent Update: India’s formalization of the economy
enhances employment security and access to social
benefits, contributing to economic stability.
Recent Update: The International Solar Alliance (ISA)
released its 3rd World Solar Report, highlighting solar
growth, investment trends, and green hydrogen
potential in Africa.
About:
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• Definition: Transition of activities from the
informal sector to the formal sector, ensuring
About:
• ISA Origin: Established in 2015 at COP21, co-
launched by India and France.
legal regulation. • Aim: Mobilize $1 trillion in solar investments
• Features: by 2030.

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Members: 120 countries, focusing on regions Recent Update: Despite India’s economy growing at

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with high solar potential.

CHINA AND RENEWABLE ENERGY

4.6% (2019-2024), rural wages remain stagnant.
About:
• Nominal Wages: Grew at 5.2% annually
Recent Update: China leads the global renewable (2019-2024), with agricultural wages rising at

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energy market but faces challenges in balancing
emission reductions with reliance on fossil fuels.
About:
5.8%.
• Real Wages: Despite nominal growth, real
wage growth for rural workers was -0.4%.
• Global Leader in Renewables: Dominates • Inflation Impact: Inflation eroded the wage

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solar panel and wind turbine production.
• Renewable Growth: Added 300 GW of
capacity in 2023, nearing its 1,200 GW target
gains, affecting purchasing power.

50TH FOUNDATION DAY OF COAL INDIA LIMITED

for 2030. Recent Update: Coal India Limited (CIL) marked its

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• Emissions Paradox: Despite renewables
growth, China still generates over 50% of
electricity from coal.
50th Foundation Day, solidifying its role as India’s
largest coal producer.
About:
• Founded: In 1975, CIL is the world’s largest

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SOURCE: DRISHTI MONTHLY
AGRICULTURAL POLICY MONITORING AND
EVALUATION 2024
coal producer.
• Organizational Structure: Classified as a
‘Maharatna’ public sector enterprise with 8

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Recent Update: OECD's 2024 report highlights India’s subsidiaries.
implicit tax on farmers, amounting to USD 120 billion, • Strategic Importance: CIL produces 78% of
the highest among 54 countries. India's coal and fuels over 50% of India’s
About: power capacity.

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• Financial Support: OECD report indicates an
average annual global agricultural support of
USD 842 billion (2021-2023).
• Market Price Support (MPS): Declined by USD
RBI’S REPATRIATION OF GOLD
Recent Update: The Reserve Bank of India (RBI)
repatriated 102 tonnes of gold from the Bank of

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28 billion but remains crucial.
• India’s Agricultural Support: Export
restrictions in 2023 caused a USD 110 billion
loss, negatively impacting farmers’ income.
England and BIS.
About:
• Gold Reserves: India holds 854.73 metric
tonnes of gold, with 510.46 tonnes

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• Impact: Farmers received less for their
produce due to negative MPS.

DEVELOPMENT ECONOMICS
domestically as of September 2024.
• Reasons for Repatriation:
o Geopolitical Risks: Avoid foreign
sanctions and restrictions.

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Recent Update: The IMF World Economic Outlook
(October 2024) emphasizes aligning development
economics with political and economic realities.
About:
o Market Confidence: Boosts trust in
the financial system.

INSURANCE SECTOR IN INDIA

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• Focus: Studies how countries can achieve
sustained growth, reduce poverty, and
improve living standards.
• Emergence: Developed post-WWII,
Recent Update: Heads of general insurance
companies in India met to address challenges and
share insights on the sector’s future trajectory.
About:

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particularly in response to the challenges of
newly independent nations.
• Core Issues: Examines economic
development processes and challenges faced
• IRDAI: Regulatory body founded in 1999
under the Ministry of Finance.
• Mission 'Insurance for All by 2047': Aiming
for widespread coverage including life, health,

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by developing countries.

PARADOX OF STAGNANT RURAL WAGES

and property insurance.
• Focus Areas:
o Offering appropriate products to
customers.
o Grievance redressal and ease of
business.

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 www.xias.in/courses
o Aligning regulations with market efforts in low-income countries.

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o
needs.
Promoting innovation and tech-
driven solutions.
About:
• Clinical Trials: LMICs only account for 43% of
global trials despite housing 80% of the
population.

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STATE OF THE RURAL ECONOMY OF INDIA
Recent Update: Challenges like poverty and
unemployment persist in India’s rural economy, with
• Limited Tech Transfer: Voluntary licensing is
limited to a few countries.
• R&D Decline: Reduced focus on priority
focus on rural industrialisation and women-owned diseases like malaria and tuberculosis.
enterprises.
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• Rural Demographics: 68.85% of India’s
RETHINKING NEW POPULATION STRATEGY
Recent Update:Andhra Pradesh reverses its two-child
population lives in rural areas, projected to policy, spurring a rethink on population control.

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remain significant until 2045.
• Living Conditions: Limited access to basic
infrastructure, with 39% living in one-room
About:
• Declining Fertility Rate: India’s TFR has
dropped to 2.0, raising concerns about a
homes and only 53.2% having electricity.

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shrinking workforce.
• Rural Poverty: High poverty at 25% in 2011- • Demographic Dividend: India’s young
12, despite improvements. population offers potential for economic
• Consumption Gap: Rural consumption growth, but needs investment in education

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significantly lower than urban. and skills.

INDIA SIGNS MOU ON CRITICAL MINERALS RISING INFLATION IN INDIA

COOPERATION Recent Update:Retail inflation surged to 6.2%,

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Recent Update: India and IEA sign MoU to strengthen
critical mineral strategies for energy and
manufacturing.
About:
surpassing RBI's tolerance limit, driven by high food
prices.
About:
• High Food Inflation: Vegetable prices soared

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• Access to Data and Recommendations:
Enhances India’s policy alignment with global
standards.
• Strategic Importance: Minerals like lithium
by 42%, impacting overall inflation.
• Core Inflation: A rising trend in services and
non-food sectors.
• Global Price Impact: Edible oil price hikes

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and cobalt are essential for renewable energy
and electric mobility.
• Knowledge Exchange: Facilitates technical
expertise and joint research.
have contributed to inflationary pressure.

INDIA’S TRANSITION TOWARDS WORKFORCE

FORMALISATION

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COKING COAL AS CRITICAL MINERAL
Recent Update: India is shifting towards formalisation
of the workforce, aiming for improved job securityand
social benefits.
About:

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Recent Update:NITI Aayog recommends adding
coking coal to critical minerals to reduce imports.
About:
• Import Dependence: India is the largest
• Formalisation Definition: Transition from
informal to formal jobs with legal contracts,
benefits, and security.
• Benefits: Boosts tax compliance,

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importer of coking coal, with growing imports
from Australia, Russia, and Mozambique.
• Steel Production Growth: Coking coal
demand is tied to rising steel production.
entrepreneurship, and productivity.
• Improved Access: Workers get social security,
healthcare, and pensions.

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• Geopolitical Sensitivity: Over-reliance on
imports from geopolitically sensitive regions.

ACCESS TO MEDICINE INDEX REPORT 2024

CSR FOR AGRICULTURE SUSTAINABILITY
Recent Update:Corporate Social Responsibility (CSR)
is being increasingly directed to support sustainable
agriculture in India.
Recent Update:Access to Medicine Foundation About:
releases its 2024 index, assessing pharmaceutical

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 •
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Dependence on Agriculture: 47% of India’s Recent Update:Dhudmaras Village in Chhattisgarh is

• www.xias.in/courses
population depends on agriculture.
Support for Small Farmers: CSR can promote
skill development and modern farming
selected for the UN’s Best Tourism Village Upgrade
Programme.
About:
practices for small farmers. • Location: In Kanger Valley National Park, rich
•
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Economic and Ecological Sustainability:
Encourages rural entrepreneurship and
infrastructure development.
in biodiversity and eco-tourism potential.
• Cultural Significance: Home to the Dhurwa
Tribe, showcasing authentic tribal culture and
homestays.

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DHUDMARAS VILLAGE

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 DIGITAL PUBLIC INFRASTRUCTURE (DPI) ii. Non-Platform Based: Casual wage
workers in traditional sectors, either part
• Definition: It is a secured interoperable digital time or full-time (e.g., domestic
system built on open standards to ensure
equitable access to public and private services at
scale. TRANSSHIPMENT PORT
• These systems are governed by legal frameworks
that promote development, inclusion, innovation, • Definition: A transit hub where cargo is
trust, competition, and respect for human rights. transferred from one ship to another en route to
• India Stack is India's foundational DPI, comprising its final destination, often involving rails and
three interconnected layers: roads.
1. Identity Layer - e.g., Aadhar, e-KYC • Smaller parcels are consolidated onto larger ships
2. Payment Layer - e.g., UPI, Aadhar Payment for transportation to distant international ports.
Bridge
3. Data Governance Layer - e.g., DigiLocker,
Account Aggregator
• One Future Alliance is a voluntary initiative by
the G20 India Presidency to build capacity and
provide technical assistance and funding for
implementing DPI in low and middleincome
countries.
ANGEL TAX
• Definition: This is the income tax imposed on
funding raised by unlisted companies or startups
when their valuation exceeds the fair market
INDIA’S STRUCTURAL TRANSFORMATION
value.
• For example, if a startup's fair market value is Rs • Structural Transformation: Transition of an
10 and they sell shares for Rs 20, the Rs 10 economy from low productivity and labour
difference is taxed as income. intensive economic activities to higher
• Objective: Introduced in 2012 to combat money productivity and skill intensive activities.
laundering and tax evasion. • Indicators of Structural Transformation
• Legal Provision: Levied under Section 56(II)(viib) i. Shift from Agriculture: Resources (labor,
of the Income Tax Act, 1961. capital, technology) move from low
• Coverage: Initially applied only to local investors, productivity sectors like agriculture to
but the Budget 2023-24 expanded it to include higher-productivity sectors such as services.
foreign investments (with some exceptions). ii. Sectoral Distribution: An increased share of
• Angel Tax Has Been Abolished- to improve Ease manufacturing and services, measured
of Doing Business and streamline Investment through employment, value-added, and
consumption distribution.
GIG ECONOMY
iii. Capital Accumulation: Growth in physical
• Definition: It refers to a labor market and human capital, along with changes in
characterized by short-term, flexible jobs, often demand, production, employment, and
mediated through digital platforms. trade.
• Gig Workers typically take on freelance or part- iv. Migration: Rural-to-urban migration driven
time tasks rather than traditional full time by both rural and urban development.
employment. v. Demographic Transition: A shift from high
• The gig economy is broadly classified into two birth and death rates in underdeveloped
categories: areas to low rates in developed, urban areas.
i. Platform-Based: Workers utilize online
SPACE ECONOMY
apps or digital platforms (e.g., Zomato
delivery workers). • Definition: The space economy encompasses all
economic activities related to the exploration and
utilization of outer space

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 • This venture capital fund will finance space tech 1. Electric Vehicles (EVs): Cars, buses, and
startups and small to medium-sized enterprises trucks powered by electric motors.
at various stages of their lifecycle. It will 2. E-Bikes and E-Scooters: Electric bicycles
complement initiatives like the Seed Fund and scooters for personal transport.
Scheme launched by the Indian National Space 3. Public Transport: Electrified buses and
Promotion and Authorization Centre (IN-SPACe) trains
in 2023. • Benefits:
• Private Sector Participation in Space 1. Environmental Impact: Reduced
1. India has over 200 space-based startups. greenhouse gas emissions and air
2. In 2022, Vikram-S, India's first privately built pollution.
rocket, was launched by Skyroot Aerospace 2. Energy Efficiency: Electric motors are
under ‘Mission Prarambh.’ more efficient than internal
3. Agnikul Cosmos, incubated at IIT Madras, test- combustion engines.
launched the world's first rocket with a single- 3. Cost Savings: Lower fuel and
piece 3D printed engine. maintenance costs for electric
vehicles.
SUSTAINABLE DEVELOPMENT GOALS • E-mobility is seen as a crucial component of
• The concept of sustainable development, defined sustainable transport systems, contributing to a
by the 1987 Brundtland Commission Report, reduction in reliance on fossil fuels and
emphasizes meeting present needs without promoting cleaner urban environments.
compromising future generations.
CITY GAS DISTRIBUTION (CGD) NETWORK
• In 2000, the United Nations Millennium
Development Goals (MDGs) were established, • Definition: It is an interconnected system of
committing global leaders to combat poverty, underground natural gas pipelines supplying
hunger, disease, illiteracy, environmental Piped Natural Gas (PNG) and Compressed
degradation, and gender discrimination, with Natural Gas (CNG). Natural gas, primarily
targets set for 2015. methane (CH4), is a cleaner fossil fuel.
• The Sustainable Development Goals (SDGs) serve • Segments: CNG is mainly used as auto fuel, while
as a blueprint for a better future, addressing PNG serves domestic, commercial, and industrial
global challenges like poverty, inequality, climate sectors.
change, and peace. • Regulation: The PNGRB Act 2006 authorizes
• In 2015, the UN adopted the 2030 Agenda for entities to develop CGD networks in specific
Sustainable Development, outlining a 15-year geographical areas.
plan with 17 Goals and 169 targets to be • Coverage: India has over 33,753 km of natural
achieved by 2030. gas trunk pipelines, with around 24,623 km
operational. Recent bidding rounds aim to extend
coverage to nearly 100%, excluding the Andaman
and Nicobar and Lakshadweep Islands.
• Growth: The Government of India aims to
increase the share of natural gas in the energy
mix from 7% to 15% by 2030.
COAL SECTOR IN INDIA
• Coal is a readily combustible, black or brownish
black sedimentary rock, predominantly made of
carbon.
• The precursor to coal is peat. Peat is a soft,
organic material consisting of partly decayed
plant and mineral matter.
• Types of coal found in India
E-MOBILITY
1. Anthracite: It is the highest grade of coal
• Definition: E-mobility refers to the use of electric containing a high percentage of fixed
vehicles (EVs) and other electric transportation carbon. It is hard, brittle, black and
options. lustrous.
• Types of E-Mobility:

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 2. Bituminous: It is a medium grade of coal SYNDICATED LOAN
having high heating capacity. It is the most
commonly used type of coal for electricity  A private Non-Banking Financial Company
generation in India. (NBFC) recently raised USD 425 million and
3. Lignite: It is the lowest grade coal with the EURO 40 million through a syndicated loan.
least carbon content. It is found in the  The three-year loan is structured as a social
regions of Rajasthan, Tamil Nadu, and loan to support small entrepreneurs and
Jammu & Kashmir. vulnerable groups in India.
• 69% of the total coal resources is in Odisha,  A syndicated loan is provided by a group of
Jharkhand, Chhattisgarh lenders who share the risk of funding large
borrowers, such as corporations or
government projects.
 External Commercial Borrowings (ECBs) are
loans from foreign sources used by Indian
companies for expansion, asset acquisition, or
debt repayment.
PUBLIC FINANCIAL MANAGEMENT SYSTEM (PFMS)
Recent Update: Recently, the CBIC decided to transfer
duty drawback funds electronically via the PFMS,
directly to exporters' bank accounts to ensure
transparency and efficiency.
Duty Drawback

WORLD BANK  Under section 75 of the Customs Act, 1962, it

rebates customs or excise duty on imported
About: or excisable materials used in manufacturing
export goods.
 Established in 1944 as the International Bank
 This helps exporters offset costs incurred in
for Reconstruction and Development (IBRD),
the export process, especially within the
which became the World Bank.
supply or value chain.
 The World Bank Group is a global partnership
of five institutions focused on poverty About: PFMS is a web-based software developed by
reduction and sustainable solutions in the Controller General of Accounts (CGA), Ministry of
developing countries. Finance, and was launched in 2009 by the Planning
 It is a specialized agency of the United Commission (NITI Aayog).
Nations.
Objective of PFMS:
Members: 189 member countries, including India.
 The goal is to create a robust Public Financial
Major Reports: Management System (PFMS) with an efficient
fund flow system and payment-cum-
 Human Capital Index.
accounting network.
 World Development Report.
 It covers Central Sector and Centrally
 Global Economic Prospects (published Sponsored Schemes, along with Finance
biannually). Commission grants.
Development Institutions:  PFMS provides real-time management
information and supports decision-making,
1. International Bank for Reconstruction and aligning with the Digital India initiative.
Development (IBRD)  Integrated with the core banking system, it
2. International Development Association (IDA) ensures seamless transactions and promotes
3. International Finance Corporation (IFC). transparency and accountability in managing
4. Multilateral Guarantee Agency (MIGA) public funds.
5. International Centre for the Settlement of
Investment Disputes (ICSID)- India is not a FINTECH START UPS
member of ICSID

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 Recent Update: Fintech companies continue to attract  Integrated with portals like NCS, SIDH, and
entrepreneurs, receiving over 15% of total equity PMSYM, it aims to include more schemes like
funding in start-ups in FY24, according to Tracxn data. PMJJBY, PMSBY, AB-PMJAY, and PM-
SVANidhi.
About: Fintech combines "financial" and "technology"
 India’s informal sector includes 85% of
to enhance or automate financial services.
workers, with 90% being self-employed or
Types: casual labourers.

1. Digital Payments: Solutions like mobile wallets AUTHORISED ECONOMIC OPERATOR PROGRAMME
and online payment gateways (e.g., PhonePe,
Recent Update: Recently, the gem and jewellery
Paytm).
sector has been granted Authorised Economic
2. Alternative Lending: Online platforms for
Operator (AEO) status by the Ministry of Finance,
marketplace lending and P2P lending (e.g.,
easing export-import processes with shorter cargo
Lending Club, GoFundMe).
release times and reduced bank guarantees.
3. Insurance: Digital insurance services (e.g., Digit
Insurance, Policybazaar). About:
4. InvestmentTech: Digital investment platforms
(e.g., Zerodha, Groww).  Launched in 2007 under the WCO’s SAFE
5. Others: Includes crop loan risk management Framework.
(e.g., Satsure), fraud detection (e.g., Tutelar),  Purpose:
and debt management (e.g., Debt Nirvana). o Enhance supply chain security by reducing
risks of smuggling and counterfeiting.
OUT-OF-POCKET EXPENDITURE (OOPE): o Facilitate trade by expediting customs
clearance and reducing delays and costs for
 Money paid directly by households for
legitimate businesses.
healthcare, excluding insurance-covered
 AEO Status: Businesses meeting security
individuals.
standards are recognized as reliable trading
 Health insurance accounts for about 29% of
partners.
general insurance premiums.
 Benefits: Faster clearance, fewer inspections,
 India ranks 10th in global life insurance, with
and improved security and communication.
a 2.73% market share (2019).
 India’s AEO Programme: Launched in 2011,
 India ranks 15th in global non-life insurance,
with a three-tiered system for exporters and
with a 0.79% market share (2019).
importers based on WCO standards.
DIGITAL PAYMENTS INTELLIGENCE PLATFORM
GLOBAL DEBT CRISIS
Recent Update: The RBI has set up a committee to
Recent Update: A recent UNCTAD report, "A World of
explore a Digital Payments Intelligence Platform to
Debt 2024," highlights an unprecedented global debt
curb payment frauds.
crisis, with 3.3 billion people living in countries where
About: debt interest payments exceed spending on education
or health.
 Domestic frauds surged by 70.64% to Rs 2,604
crore in the first half of 2024. Global debt refers to the total money owed by
 Other proposals include raising the bulk governments, businesses, and individuals worldwide,
deposit limit and implementing automatic e- including both public and private debt.
mandates for UPI Lite and Fastag.
1. Public Debt: Money owed by governments to
E-SHRAM PORTAL AT ILC domestic and foreign creditors, typically
through bonds, treasury bills, or loans.
Recent Update: The e-Shram portal was showcased at 2. Private Debt: Money owed by businesses and
the 112th International Labour Conference in Geneva individuals to banks and financial institutions,
in June 2024. including mortgages, corporate bonds, student
About: loans, and credit card debt.

 Launched in 2021, it serves as a one-stop HOUSEHOLD CONSUMPTION EXPENDITURE SURVEY

solution for unorganised workers, creating a 2023
national database and providing access to Recent Update: The Ministry of Statistics and
social security schemes. Programme Implementation (MoSPI) recently

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 released the Household Consumption Expenditure  As a not-for-profit, ONDC supports local
Survey (HCES) 2022-23, offering insights into the digital commerce and aims to level the e-
spending habits of rural and urban households across commerce playing field, similar to UPI.
states.  The Quality Council of India oversees the
integration of e-commerce platforms through
About:
this open-source network.
 The Household Consumption Expenditure
COAL GASIFICATION
Survey (HCES) is conducted every 5 years by
the National Statistical Office (NSO). Recent: The Ministry of Coal has invited proposals for
 It collects data on household consumption of coal gasification projects under an Rs 8,500 crore
goods and services. Viability Gap Funding (VGF) scheme. VGF supports
 The data is used to calculate macroeconomic projects that are economically justified but not
indicators like GDP, poverty rates, and financially viable on their own.
Consumer Price Index (CPI).
About: Syngas is used to produce fertilizers, fuels,
 The 2022-23 survey covered all of India,
solvents, and synthetic materials.
excluding a few remote villages in the
Andaman and Nicobar Islands. Process:
 The findings are based on 2011-12 prices.
 Results from the 2017-18 survey were 1. Preparation: Coal is crushed to increase
withheld due to data quality concerns. surface area for better chemical reactions.
2. Gasification Reactor: Crushed coal is fed into a
WILFUL DEFAULTERS high-temperature, high-pressure reactor with
limited oxygen and steam.
Recent Update: Since 2018, six Public Sector Banks
3. Chemical Reactions: Coal undergoes chemical
(PSBs) have issued 1,071 Look-out Circulars (LOCs) to
reactions, breaking down into syngas
prevent wilful defaulters from fleeing the country.
components.
About: The RBI defines wilful defaulters as borrowers 4. Gas Cleaning: Impurities like tar, sulfur, and
who: dust are removed from raw syngas before
further use.
 Deliberately avoid repaying dues despite
having funds. WIPO Treaty
 Divert loan funds for non-approved uses. Recent Update: The recent WIPO treaty on
 Misappropriate loan funds, making them Intellectual Property, Genetic Resources, and
unavailable for repayment. Associated Traditional Knowledge is a major win for
A borrower with a loan of Rs 25 lakh or more can be Global South countries, including India.
classified as a willful defaulter. A "large defaulter" has About: World Intellectual Property Organization
an outstanding balance of Rs 1 crore or more, with the (WIPO)
account marked as doubtful or a loss.
 WIPO is the global forum for IP services,
OPEN NETWORK FOR DIGITAL COMMERCE policy, information, and cooperation, with 193
Recent Update: In May 2024, ONDC saw a record 8.9 member states, including India.
million transactions in retail and ride-hailing, marking  Its mission is to develop a balanced
a 23% month-on-month growth. international IP system that fosters innovation
and benefits all.
About:  WIPO defines Traditional Knowledge (TK) as
 Open Network for Digital Commerce (ONDC) knowledge and practices passed down within
communities, often linked to cultural or
connects e-marketplaces, enabling direct sales
between sellers and customers without spiritual identity.
intermediaries. UN’s WSIS 2024 “Champion” Award
 Launched in 2021 by DPIIT under the Ministry
of Commerce, ONDC is part of the Digital India Recent Update: C-DOT (Centre for Development of
initiative. Telematics), India's telecom R&D center, won the
 It offers services in sectors like groceries, food UN's WSIS 2024 "Champion" Award in the "Mobile-
delivery, and home decor. Enabled Disaster Resilience through Cell Broadcast
Emergency Alerting" category.

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  The WSIS+20 Forum 2024 was conducted by  FSSAI, established under the Food Safety and
the International Telecom Union (ITU). Standards Act of 2006, regulates food safety and
a. ITU is a UN agency for ICTs, founded in 1865 quality in India.
and headquartered in Geneva, Switzerland.  APEDA, under the Ministry of Commerce,
b. India has been a member of ITU since promotes the export of products like fruits and
1952. vegetables.
 C-DOT was recognized for using technology to
address societal issues, aligning with global EXCHANGE TRADED FUND
initiatives like Early Warnings for All (EW4All) Recent Update: Hong Kong has launched Asia’s first
and ITU’s Common Alerting Protocol (CAP). Spot Bitcoin and Ether Exchange-Traded Funds (ETFs).
 At the AI for Good Global Summit, C-DOT
showcased AI-powered solutions like ASTR (AI About:
and Facial Recognition for telecom SIM  Bitcoin is the first and most well-known
verification) to detect fraudulent mobile cryptocurrency, operating on decentralized
connections. blockchain technology.
SPARSH  Spot Bitcoin refers to real-time transactions of
Bitcoin at current market prices.
Recent Update: The Defence Accounts Department  ETFs are investment funds traded on stock
(DAD) recently signed MoUs with several banks to exchanges, tracking assets like indices,
onboard them as SPARSH( System for Pension commodities, or currencies.
Administration Raksha) Service Centres.  Hong Kong’s ETFs can be traded in Hong Kong
About: Dollars, US Dollars, and Chinese Yuan,
potentially promoting wider adoption of digital
The MoUs will provide last-mile connectivity to assets globally.
pensioners, especially in remote areas.
PRESTON CURVE
 Through SPARSH Service Centres, defence
pensioners can update profiles, register About: The Preston Curve, proposed by sociologist
grievances, complete digital identification, Samuel H. Preston in 1975, shows the relationship
verify data, and access pension details. between life expectancy and per capita income.
 SPARSH (System for Pension Administration  Richer countries generally have longer life
Raksha) is an integrated, web-based system spans due to better healthcare, education, and
automating pension sanctions and nutrition.
disbursements.  As a country’s income rises, life expectancy
 It processes claims and credits pensions increases significantly at first. For example,
directly to bank accounts, ensuring efficiency, India’s per capita income grew from Rs 9,000
transparency, and responsiveness. in 1947 to Rs 55,000 in 2011, while life
UNIFIED INDIA ORGANIC LOGO expectancy increased from 32 to 66 years.
 However, this relationship flattens after a
Recent Update: The Food Safety and Standards certain income level, as life expectancy cannot
Authority of India (FSSAI) and the Agricultural and increase indefinitely.
Processed Food Products Export Development  The Preston curve also applies to other
Authority (APEDA) have jointly developed a new development indicators like infant and
"Unified India Organic" logo to replace the India maternal mortality, education, and healthcare.
Organic and Jaivik Bharat logos.
About: The new "Unified India Organic" logo aims to
standardize the implementation of organic regulations
under NPOP and FSSAI.

 The India Organic logo was used for NPOP-

certified products, while Jaivik Bharat was for
FSSAI-certified products.
 Certification bodies will have three months to
transition to the new logo.

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 CONCESSIONAL DUTY About: What are Remittances?
Recent Update: India has recently allowed limited  Remittances are funds or goods sent by
imports of corn, crude sunflower oil, refined rapeseed migrants to support their families back home.
oil, and milk powder under the Tariff-Rate Quota  They are crucial for income, foreign exchange,
(TRQ) to help control rising food inflation. and economic activity in many developing
countries, especially in South Asia.
Tariff-Rate Quota (TRQ) : is a trade policy that allows
 In 2023, India sent out 18.7 million emigrants.
a limited quantity of a good to be imported at a lower
tariff, with higher tariffs on amounts above the Growth of Remittances:
threshold. It balances protecting domestic industries
and meeting import demand.  India received USD 120 billion in remittances in
2023, growing by 7.5%.
About the duty: A tariff imposed on imported goods  Growth is expected to slow to 3.7% in 2024,
at a lower rate than the standard duty. reaching USD 124 billion, with a forecasted 4%
Reasons for Imposition: growth in 2025 to USD 129 billion.

 Reduces import costs, making goods more

affordable for consumers. POVERTY AND INEQUALITY MEASURES
 Helps control domestic prices, especially for
essential goods. Recent Update: PM’s Economic Advisory Council chief
 Encourages domestic production by reducing Bibek Debroy recently called for a review of India’s
duties on raw materials or equipment. official poverty line and suggested analyzing inequality
 Strengthens trade relations by offering at the state level.
concessional duties. Status of Poverty in India:
ROOFTOP SOLAR  Poverty is a condition where people lack the
Recent Update: As of March 2024, India's rooftop financial resources for a minimum standard of
solar (RTS) capacity reached 11.87 GW, with 2.99 GW living.
added in 2023-2024, highlighting RTS's growing role in  In September 2022, the World Bank set the
India’s energy sector. international poverty line at USD 2.15 per day
(2017 prices), defining those living below this
About: threshold as in extreme poverty.
 Launched in 2014 to promote rooftop solar COTTON CULTIVATION
installations.
 The target was 40 GW by 2022 (out of 100 GW Recent Update: data from the Ministry of Textiles
by 2030), but the deadline was extended to shows that cotton consumption by the textile industry
2026. from October 2023 to September 2024 is among the
 RTS involves photovoltaic panels installed on highest this decade.
rooftops, connected to the main power supply. Key Facts About Cotton Cultivation
Objective: To promote grid-connected solar rooftop  Cotton is a major commercial crop in India,
systems on residential buildings. contributing about 25% of global production
Key Initiatives under Rooftop Solar: and is known as "White-Gold."
 About 67% of India's cotton is grown in rain-
1. SUPRABHA (Sustainable Partnership for fed areas, and 33% in irrigated regions.
RTS Acceleration in Bharat)
2. SRISTI (Sustainable Rooftop Growing Conditions:
Implementation for Solar Transfiguration  Cotton requires a hot, sunny climate and a
of India) long frost-free period. It thrives in warm,
REMITTANCES humid conditions.
 It can grow in various soil types, including
Recent Update: According to the World Bank, growth alluvial, black clayey, and mixed black-red soils.
in remittances to India is expected to halve in 2024  Cotton tolerates some salinity but is sensitive
compared to 2023, due to reduced outflows from GCC to waterlogging, requiring well-drained soils.
countries amid falling oil prices and production cuts.

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 Hybrid and Bt Cotton: - It also decided to reconvene in August 2024 to
discuss restructuring the multiple tax rates under the
 Hybrid Cotton: Created by crossing two seven-year GST.
different parent strains, often naturally
through cross-pollination. About council: The GST Council is a constitutional
 Bt Cotton: A genetically modified, pest- body responsible for recommending GST-related
resistant variety. issues in India. It was created to simplify India's
complex tax structure, replacing multiple taxes
levied by both the Centre and states.
Constitutional Provisions:
 The 101st Amendment Act of 2016 introduced
GST and added Article 279-A to the
Constitution, enabling the formation of the
GST Council.
 The President constituted the GST Council in
2016.
Members:
 The Council is chaired by the Union Finance
Minister, with the Union Minister of State for
Finance as a member.
 Each state nominates a finance or taxation
minister to be part of the Council.
Functions:
POWER MARKETS IN INDIA  The Council recommends goods and services
Recent Update: Recently, the government allowed for GST exemption, model laws, and tax rates.
trading of surplus electricity from "linkage coal" in  It decides on GST rate slabs and modifications
power markets to meet rising summer demand. for specific products.
 It also suggests special rates for resources
- Coal linkages are government-allocated resources to during natural disasters and provisions for
thermal units based on long-term PPAs to ensure a certain states.
consistent coal supply for power generation.
Working:
About Power Markets of India
o Decisions are made by a three-fourths majority
 Power markets enable electricity trading of weighted votes.
through platforms like power exchanges for o A quorum of 50% of members is required.
efficient allocation. o The Central Government’s vote holds one-third
 Power Exchanges: These platforms facilitate of the total votes, while state governments’
buying and selling of electricity through votes account for two-thirds.
transparent, competitive processes, enhancing o Recommendations were previously binding but
supply efficiency. were ruled non-binding by the Supreme Court
 Structure and Evolution: Power exchanges in 2022
began in Europe in the early 1990s and now
CONTAINER PORT PERFORMANCE INDEX (CPPI) 2023
operate in around 50 countries. In India, the
Electricity Act of 2003 set the framework, with Recent Update: India’s port development received a
exchanges starting in 2008. major boost, with 9 Indian ports making it to the
Global Top 100 in the 2023 Container Port
GST COUNCIL MEETING
Performance Index (CPPI).
Recent Update: The 53rd GST Council meeting
- This achievement is credited to the Sagarmala
approved measures to ease compliance for small
programme, which focuses on modernizing ports and
businesses, including exemptions for hostel
improving efficiency.
accommodation and railway services.
Sagarmala Programme

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  Launched in 2015 by the Ministry of Ports, About: E-commerce is the buying and selling of goods
Shipping and Waterways, Sagarmala aims to and services over the Internet. As of 2023, India is the
transform India's maritime sector. eighth-largest e-commerce market globally.
 It focuses on leveraging India’s coastline,
Classification:
waterways, and strategic trade routes for port-
led development and coastal community  Market-based Model: Platforms like Amazon and
upliftment. Flipkart connect buyers and sellers.
 The programme aims to reduce logistics costs,  Inventory-based Model: Platforms like Myntra
improving the efficiency of domestic and and Nykaa sell goods directly from their own
international trade. inventory.
 By using coastal and waterway transport, it  Note: FDI is not allowed in the inventory-based
minimizes the need for extensive model.
infrastructure, enhancing logistics efficiency
and boosting India’s export competitiveness. SEBI Expands Promoter Definition for IPO Companies
 SEBI has expanded the promoter definition for
IPO-bound companies.
 Founders with a 10% stake and key
managerial personnel are now classified as
promoters.
 Immediate relatives on the board or with
10%+ stakes are also considered promoters.
 Declassification as a promoter is difficult
under SEBI’s regulations.
 A promoter is someone who controls the
company's affairs or appoints the majority of
directors.
DARK PATTERNS

NATIONAL MONETISATION PIPELINE Recent Update: The Department of Consumer Affairs

addressed deceptive online designs known as "dark
Recent Update: NITI Aayog reported that assets worth patterns."
Rs 3.85 lakh crore have been monetized under the
National Monetisation Pipeline (NMP) from 2021-22 About:
to 2024-25.
 These designs manipulate users into making
- NITI Aayog is responsible for developing the NMP. unintended purchases or actions.
 Guidelines to regulate dark patterns were
About National Monetisation Pipeline (NMP) introduced in 2023.
 The NMP aims to monetize Rs 6 lakh crore by  The goal is to protect consumers from
leasing core assets of the Central government misleading online practices.
in sectors like roads, railways, power, oil and  The session focused on strategies for
gas, telecom, and civil aviation from FY 2021- implementing these regulations.
22 to 2024-25. IFC’s INVESTMENT
 It only includes core assets, excluding non-core
asset disinvestment. Recent Update: The IFC committed USD 105 million to
 Monetization of non-core assets, such as land fund a 550 MW solar project in Rajasthan.
and real estate, is being transferred from
About:
DIPAM to DPE in the Ministry of Finance.
 The project aims to provide affordable solar
E COMMERCE AS EXPORT HUB
energy to Indian businesses.
Recent Update: The commerce ministry's 100-day  It supports India’s goal of reaching 500 GW of
agenda includes plans to use e-commerce for exports. renewable energy by 2030.
India aims to reach USD 1 trillion in merchandise  The IFC is part of the World Bank Group,
exports by 2030, with cross-border e-commerce as a focusing on private sector development.
key strategy.

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  The project will help reduce India’s  GMT seeks to prevent multinationals from
greenhouse gas emissions and transition to shifting profits to low-tax jurisdictions,
clean energy. regardless of where sales occur.
 Companies increasingly move income from
FINTECH REPOSITORY
intangibles like patents and royalties to tax
 Launched by RBI, the FinTech Repository is a havens to avoid higher taxes.
web-based database containing - The G20 and OECD will lead decisions on
comprehensive data on Indian FinTech firms. It this initiative.
helps regulators better understand the
FinTech landscape. About OECD
 RBI also launched the EmTech Repository,
focusing on the adoption of emerging  An intergovernmental economic organisation,
technologies like AI, ML, and cloud computing founded in 1961, headquartered in Paris,
by RBI-regulated entities. France.
 Both repositories are secure applications  It has 38 member countries, with India being a
managed by the RBIH (Reserve Bank key partner but not a member.
Innovation Hub).  The OECD aims to stimulate economic progress
and global trade.
PUMP AND DUMP SCHEME  Most members are high-income, developed
countries.
 A manipulation activity in the stock market,
where stock prices are artificially inflated NEW ECONOMIC BRAIN POWER
through misleading information, allowing
manipulators to sell stocks at the inflated price Recent Update: India's shift from a back-office service
and leave investors with significant losses. provider to a strategic intellectual hub for MNCs is
driven by the rise of Global Capability Centers (GCCs).
 This scheme is common in micro-cap and
small-cap sectors, where public information is  GCCs are offshore units set up by MNCs to
limited and trading volumes are lower. perform strategic functions, leveraging
 It is completely banned under SEBI guidelines. specialized talent, cost advantages, and
BASE EROSION AND PROFIT SHIFTING operational efficiencies globally.

Recent Update: The Organisation for Economic Co- About GCC: Global Capability Centers (GCCs), also
operation and Development (OECD) recently known as Global In-House Centers (GICs), are strategic
welcomed the commitment of 147 members of the outposts set up by multinational corporations (MNCs)
Inclusive Framework on BEPS to resolve remaining in various countries.
issues in the signing process of the Multilateral  These centers provide specialized services like
Convention (MLC). IT, R&D, and customer support within the
About BEPS: global corporate structure.

The BEPS initiative, approved by the G20 and led by Examples:

the OECD, aims to standardize global tax rules. BEPS  General Electric (GE) has an R&D and
involves strategies that exploit tax rule differences engineering GCC in Bangalore for its aviation
across countries to reduce corporate tax payments. and healthcare sectors.
Aim: The goal is to reduce corporate tax liability by  Nestle has a GCC in Lausanne focused on
shifting profits to low-tax regions or making them product development for its food and
appear to vanish, often exploiting international tax beverage brands.
differences. Developing countries are especially INTERNATIONAL SUGAR ORGANISATION (ISO)
vulnerable due to their reliance on corporate taxes
from multinationals.  Established in 1968, ISO is an inter-
governmental body dedicated to improving the
Global Minimum Tax (GMT) world sugar market, affiliated with the UN.
 A proposed global minimum tax rate of 15%  It has 85 members, covering almost 90% of
aims to reduce tax base erosion without global sugar production.
harming companies financially.  India is a member, and the ISO works to bring
together sugar-producing, consuming, and

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 trading nations to address sectoral issues,  Rice covers about one-fourth of India’s
including biofuels like ethanol. cropped area.
 The ISO administers the 1992 International  Major producing states: West Bengal, Uttar
Sugar Agreement (ISA), and its headquarters Pradesh, and Punjab.
are in London.  High-yielding states: Punjab, Tamil Nadu,
Haryana, Andhra Pradesh, Telangana, West
WTO’S SANITARY AND PHYTOSANITARY (SPS)
Bengal, and Kerala.
MEASURES
India is the second-largest rice producer globally,
 The SPS Agreement, established under the
after China.
WTO, sets regulations for countries to protect
human, animal, and plant life or health from
risks like contaminants, pests, and diseases.
 It involves three standard-setting
organizations: Codex Alimentarius
Commission, World Organization for Animal
Health (OIE), and the International Plant
Protection Convention (IPPC).
 SPS measures are closely linked to the
Agreement on Technical Barriers to Trade
(TBT) and were negotiated during the Uruguay
Round of GATT.
DIRECT SEEDING OF RICE
Recent Update: The Punjab government is promoting
Direct Seeding of Rice (DSR) or the ‘tar-wattar’
technique, offering several advantages over
traditional transplanting. However, adoption has been
slow, with only 1.73 lakh acres out of 79 lakh acres DIGIYATRA SERVICES
under paddy cultivation using DSR in 2023.
 DigiYatra, a biometric system for airport check-
Direct Seeding of Rice (DSR): ins, may expand to hotels and monuments.
 In DSR, pre-germinated seeds are directly  It allows paperless travel via facial recognition
drilled into the field without nursery technology.
preparation or transplantation.  The system, coordinated by the Ministry of Civil
 The field is leveled and irrigated before Aviation, was launched in 2022.
seeding, which is done using a seed drill or  Privacy and data security concerns are associated
lucky seeder. with DigiYatra.
 Seeds are soaked in a fungicide solution before  DigiYatra is collaboration between private
sowing. airports (74%) and Airports Authority of India
 The first irrigation is done 21 days after (26%).
sowing. FARMER PRODUCER ORGANISATION
Traditional Transplanting: - Involves preparing Recent Update: An MoU was signed to convert 10,000
nurseries, transplanting seedlings after 25-35 days, Farmer Producer Organizations (FPOs) into Common
and requiring 25-27 irrigations. It is labour- and water- Service Centres (CSCs).
intensive but maximizes yields and crop health.
About:
About Rice: Rice is a staple food in India and a kharif
crop requiring high temperatures (above 25°C) and  This will provide farmers with services like
humidity, with annual rainfall over 100 cm. In areas tele-consultation, crop insurance, and Kisan
with less rainfall, it is irrigated. Credit Cards.
 The goal is to improve farmers' bargaining
 Southern states and West Bengal grow power, reduce costs, and increase income
multiple rice crops per year. through aggregation.
 In West Bengal, farmers cultivate three crops:  Launched in 2020, the FPO scheme helps
'aus,' 'aman,' and 'boro.' farmers access better market opportunities.

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  CSCs are part of the Digital India initiative, with lower storage needs and greater
delivering essential services in rural areas. reliability.
FSSAI PALM OIL

Recent Update: FSSAI (Food Safety and Standards  Native to West Africa, palm oil is an edible
Authority of India) directed manufacturers to remove vegetable oil derived from the mesocarp
“100% fruit juice” claims from reconstituted juices. (reddish pulp) of the fruit.
 Features: It is highly saturated, semisolid at
About:
room temperature, resistant to oxidation, and
 Reconstituted juices are diluted with water, has a longer shelf-life.
misleading consumers into thinking they are  Uses: Palm oil is widely used in food
pure. manufacturing, beauty products, and as
 FSSAI’s regulations mandate clear labeling for biofuel (biodiesel).
reconstituted juices.  Global Production: Indonesia and Malaysia are
 Juices with added sweeteners above 15 the top producers, followed by Thailand,
gm/kg must be labeled as "sweetened juice." Colombia, and Nigeria.
 FSSAI, under the Ministry of Health, enforces  Consumption: India is one of the largest
food safety standards in India. importers and the second-largest consumer of
edible oils globally. The top three vegetable oil
INDIAS EXTERNAL DEBT imports to India are palm oil, soybean oil, and
India's external debt increased by USD 39.7 billion sunflower seed oil.
from March 2023 to March 2024, reaching USD 663.8  Major Producers in India: Andhra Pradesh,
billion. Telangana, and Kerala account for 98% of
India's palm oil production.
 The debt-to-GDP ratio fell slightly from 19.0%
to 18.7%. FINANCIAL INFLUENCER (FINFLUENCER)
 The majority of the debt is in USD (53.8%),  A "FinFluencer" is someone who provides
followed by Indian rupees and yen. financial advice, particularly on stock market
 Non-financial corporations hold the largest trading, mutual funds, insurance, etc., through
share of debt. social media platforms.
21st LIVESTOCK CENSUS  Their income comes from advertisements,
collaborations, and affiliate partnerships.
A workshop was held for the 21st Livestock Census,  SEBI has set rules for unregistered financial
set for September-December 2024. influencers, prohibiting regulated entities from
dealing with them. SEBI has also introduced a
 The census aims to collect data on livestock
fixed-price delisting process for frequently
across India using mobile apps.
traded shares.
 The 20th Census (2019) reported 535.78
million livestock in India, with the largest share INFRASTRUCTURE INVESTMENT TRUSTS (INVIS)
being bovine (302.79 million).
 InvITs are investment vehicles that allow
VIABILITY GAP FUNDING investors to invest in infrastructure projects
such as toll roads, power lines, and pipelines.
Recent Update: The Union Cabinet approved the
 Sponsors (infra companies) set up InvITs
Viability Gap Funding (VGF) scheme for offshore wind
through SEBI and are recognized as borrowers
energy projects with a total outlay of Rs. 7453 crore.
under the SARFAESI Act 2002.
About:  They earn income through tolls, rents, interest,
or dividends, which is distributed as taxable
 The scheme covers the installation of 1 GW earnings to investors.
offshore wind projects, including 500 MW in  InvITs Regulation 2024 allows the issuance of
Gujarat and Tamil Nadu. subordinate units by privately placed InvITs to
 VGF will provide up to 40% of project costs, sponsors on acquisition of infrastructure
helping make offshore wind energy more projects.
affordable for distribution companies.
 This supports the National Offshore Wind CLEARING CORPORATION (CC)
Energy Policy and promotes renewable energy

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  A Clearing Corporation handles the clearing  To achieve this, India requires a real gross fixed
and settlement of trades in securities or other capital formation (GFCF) rate of 35% of GDP,
instruments on stock exchanges. which is close to the current rate. However,
 It works with stock exchanges and sustained growth in government capital
depositories as Market Infrastructure expenditure is unsustainable due to high fiscal
Institutions and plays a critical role in risk deficits, so private investment must increase.
management.  Analysts suggest redesigning industrial policy,
 SEBI formed a committee to review the emphasizing exports, services, manufacturing,
ownership and economic structure of clearing and agriculture. India's export share increased
corporations. from 0.6% in 1970 to 2.5% in 2022, but
manufacturing exports need more focus.
 Job creation remains a critical issue, especially
GENERAL ANTI-AVOIDANCE RULE (GAAR) with technological advancements like AI and
machine learning. While these can reduce
 GAAR is an anti-tax avoidance law introduced labor absorption, a balance of sectors
in 2012 to curb tax evasion and prevent tax promoting growth and job creation is needed.
leaks, implemented under the Income Tax Act
in 2017. RBI DIGITAL PLATFORM
 It aims to check aggressive tax planning Recent Update: - The Reserve Bank of India (RBI) has
strategies that lack commercial substance. proposed a Digital Payments Intelligence Platform to
 GAAR distinguishes between acceptable tax reduce payment fraud risks, with a committee led by
mitigation and unacceptable tax avoidance, A.P. Hota to examine its setup, expected to report in
ensuring that transactions aren't structured two months.
solely to avoid taxes.
 BEPS (Base Erosion and Profit Shifting) About:
strategies, often used by MNCs, are linked to
 Domestic payment frauds surged by 70.64% to
GAAR’s objective of preventing tax avoidance.
Rs 2,604 crore in the six months ending March
STICKY INFLATION 2024, up from Rs 1,526 crore in the same
period last year.
 Sticky inflation refers to the phenomenon  The RBI plans to revise the bulk deposit limit
where prices do not adjust quickly to changes to Rs 3 crore and above for commercial and
in supply and demand, causing persistent small finance banks, and Rs 1 crore for local
inflation. area banks.
 Causes include rising wages and prices for  The RBI has introduced an automatic
consumer goods and services. replenishment facility for recurring
FRONT RUNNING transactions under the e-mandate framework,
allowing Fastag or NCMC balances to be
 Front running involves using non-public topped up automatically when they fall below
information to buy or sell securities in advance a set threshold.
of a large order, creating an unfair advantage.  UPI Lite will also be included in the e-mandate
 It is illegal in India under SEBI regulations as it framework, enabling auto-replenishment of
undermines market confidence and creates an the wallet when the balance goes below a
uneven playing field. threshold, with payments of up to Rs 500.
 SEBI amended mutual fund regulations in 2022  The RBI plans to rationalize export and import
to prevent front running and penalize such guidelines to align with global trade changes
activities. and simplify procedures, promoting ease of
doing business.
VIKSIT BHARAT
UGC ADMITS TWICE A YEAR
About:
Recent Update: - The University Grants Commission
 India aims to become a developed country by (UGC) now allows higher education institutions to
2047, but with a current per capita income of admit students twice a year, in January/February and
$2,500 (IMF, 2024), it needs an average annual
growth of 6-7% to reach the $13,845 July/August, providing flexibility in the admissions
threshold. process.

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 About:  Entrance exams may be held twice a year to
benefit students, as they are now technology-
 Institutions can choose whether to offer driven.
admissions in both cycles or just one, based on
their infrastructure and faculty capacity. JP MORGAN INDEX
 Biannual admissions are not mandatory but
Recent Update: Indian Government Bonds (IGBs) will
offer institutions the option to increase
be included in JP Morgan’s emerging markets bond
student intake and introduce new programs in
indices starting June 28. The inclusion, spread over 10
emerging fields.
months until March 31, 2025, is expected to bring
 The UGC initially trialed biannual admissions
$20-25 billion into the country.
for open and distance learning (ODL) and
online programs, benefiting students by About:
allowing early enrollment.
 The new system allows students who missed  JP Morgan announced the inclusion of Indian
admissions in July/August to join in January, Government Bonds (IGBs) in its emerging
aligning with global practices and potentially markets bond index starting June 28, 2024.
increasing the Gross Enrollment Ratio (GER).  India’s weight in the GBI-EM Global Diversified
 Universities opting for biannual admissions Index is expected to reach 10%, potentially
need approval from their academic and bringing $2-3 billion in monthly flows.
executive councils, with necessary  23 IGBs, totaling $330 billion, are eligible for
amendments to their regulations. inclusion under the Fully Accessible Route
(FAR) for non-resident investors.

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 SOURCE: THE HINDU  It indicates a company's size, worth, and its
ROBOT TAX significance in the financial markets.
Recent Update:  SEBI regulates market capitalisation in India to
The robot tax concept has emerged in response to ensure transparency and fairness.
increasing automation driven by robotics and artificial
intelligence (AI), aiming to support displaced workers. PETRODOLLARS
About: Recent Update:
 Robot tax is a proposed tax on companies The term petrodollars gained prominence in the mid-
using robots and AI to replace human 1970s when rising oil prices led to large surpluses in

S
workers. oil-exporting countries.
 Its objective is to cross-subsidize employees About:

IA
who lose jobs due to AI adoption.  Petrodollars are crude oil export revenues
 The tax proceeds would create a fund to help denominated in U.S. dollars.
 It is not a currency or a global trading system.

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displaced workers upskill and adapt to new
technologies.  The term became widely used in the mid-

in
 It can provide governments with funds to 1970s, following soaring oil prices and the
support social programs, such as welfare, resulting trade and current account surpluses

s.
e/
education, and retraining programs for for oil-exporting countries.
displaced workers.

ia
SHORT SELLING
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RICARDIAN EQUIVALENCE THEORY Recent Update:

Recent Update: SEBI regulates short selling in India, allowing

.x
The Ricardian equivalence theory, also known as the domestic investors and FPIs/FIIs to hedge market
//t

Barro-Ricardo equivalence proposition, suggests that risks through derivatives.

w
government borrowing for current expenditure has About:
similar economic effects as taxation.  Short selling is an investment strategy where
s:

w
About: investors bet that a company’s share prices
 Ricardian equivalence is an economic theory will decline.
tp

 Short sellers borrow shares, sell them at

w

stating that financing government spending

through current or future taxes or deficits has current prices, and repurchase them later at a
ht

equivalent effects on the economy. lower price, profiting from the price
//

 When the government borrows to finance difference.

s:

expenditure, households increase their  In India, domestic investors and FPIs/FIIs

savings in anticipation of future taxes. registered with SEBI can participate in
 The theory is also called the Barro-Ricardo derivatives trading for hedging market risks
tp

equivalence proposition. by taking short positions.

 SEBI regulates short selling in India
ht

MARKET CAPITALISATION
Recent Update: AGRI SURE FUND
The Securities and Exchange Board of India (SEBI) Recent Update:
continues to regulate market capitalisation in India, NABARD has announced a Rs 750 crore Category-II
reflecting the market's view of a company's worth. Alternative Investment Fund (AIF) to promote
About: innovation and sustainability in India's agriculture
 Market capitalisation (Market Cap) is the sector.
market value of a company, calculated by About:
multiplying the number of outstanding shares  The initiative, launched by NABARD, aims to
by the current share price. foster innovation and sustainability in
agriculture.

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  The Rs 750 crore AIF encourages  Project Nexus connects domestic FPSs of
entrepreneurship through IT-based solutions participating countries for instant cross-
and machinery rental services for farmers. border payments.
 NAB VENTURES, a fully owned subsidiary of  Initiated by BIS Innovation Hub, this platform
NABARD, is the fund manager. aims for instant payments within 60 seconds.
 The fund is designed to drive sustainable  India's participation aims to link UPI with
growth and development in the agricultural partner countries’ FPSs.
sector.  BIS: Bank for International Settlements
promotes global financial stability, serves as a

S
LIBERALISED REMITTANCE SCHEME forum for central banks to collaborate, and
Recent Update: provides banking services to them.

IA
The RBI’s Liberalized Remittance Scheme (LRS),  BIS's Basel Accords set global rules for
introduced in 2004, allows Indian residents to remit banking supervision.

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up to USD 250,000 annually for current or capital
account transactions. FINANCIAL SERVICES INSTITUTION BUREAU

in
About: Recent Update:
 LRS simplifies the process of remitting funds The Financial Services Institutions Bureau (FSIB),

s.
e/
outside India for resident individuals, established in 2022, replaced the Banks Board Bureau
including minors. (BBB) to recommend appointments, extensions, and

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 Permissible transactions under LRS include terminations of senior positions in government-
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private visits, gifts, medical treatment, owned financial institutions.

studies, and investments in foreign accounts About:
or property.
.x  FSIB is an autonomous body under the
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 Only Indian resident individuals can use LRS; Department of Financial Services (DFS),
w
corporates, partnership firms, HUFs, and Ministry of Finance.
trusts are excluded.  Primary role: Recommend appointments,
s:

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 Capital account transactions include investing extensions, and terminations of senior
in shares, setting up subsidiaries, and officials in government-owned financial
tp

extending loans to NRI relatives. institutions.

 Prohibited activities include margin trading,  FSIB is chaired by a central government
ht

lottery, and remittances to non-cooperative nominee and includes:

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countries. o Secretaries of DFS

s:

 There are no limits on the number of o Chairman of IRDAI

transactions, but the total amount must not o Deputy Governor of RBI
exceed USD 250,000 annually. o Six part-time members (3 banking experts,
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 Tax implications: Long-Term Capital Gains 3 insurance experts).

(20% tax for investments over 2 years) and  Recommendations of FSIB are non-binding
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normal income tax for shorter investments. on the government.

PROJECT NEXUS FOX NUTS

Recent Update: Recent Update:
India recently joined Project Nexus, an international Makhana (Fox Nuts), a traditional aquatic crop, is
initiative to enable instant cross-border retail gaining attention as a high-protein, nutritious snack.
payments by connecting its Unified Payments India, especially Bihar, leads in production,
Interface (UPI) with the fast payments systems (FPSs) contributing to 80% of global demand.
of Malaysia, Philippines, Singapore, Thailand, and About:
other ASEAN countries.  Makhana is an aquatic crop grown primarily
About: in Bihar, West Bengal, and Assam.

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  Bihar accounts for over 90% of India’s total About:
production.  Maize is used as food, fodder, and fuel.
 India contributes 80% to the global demand  Ideal temperature: 21-27°C with high rainfall.
for Makhana.  Grows best in old alluvial soils.
 It thrives in warm, humid climates with  Top producing states: Madhya Pradesh and
temperatures between 20°C to 35°C and Karnataka, each accounting for 15% of India’s
requires loamy or clayey soils. maize area.
 Known for being a high-protein snack (10%)  India ranks 4th globally in maize cultivation
and containing five essential amino acids, it is area and 7th in production.

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considered a super snack.  Top producers: USA, Brazil, and Argentina
 Rich in quercetin and kaempferol flavonoids, dominate global production and trade.

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which help combat diabetes and obesity.
 Makhana is part of the One District One INTERNATIONAL ORGANIZATION OF SECURITIES

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Product scheme by the Union Government. COMMISSIONS
Recent Update: As of August 2024, IOSCO has 240

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INTERNATIONAL COFFEE ORGANISATION members, representing 95% of the world's securities
Recent Update: regulators.

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The 5th World Coffee Conference was hosted in About:
Bengaluru, India, by the International Coffee  IOSCO was established in 1983 as a global

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Organization (ICO) in collaboration with the Coffee association regulating securities and futures
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Board of India. markets.

About:  Recognized as the global standard setter for
 ICO was established in 1963 under the United
.x financial market regulation.
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Nations, representing 49 countries (42  Permanent secretariat located in Madrid,

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exporting, 7 importing). Spain.
 It covers 93% of world coffee production and  SEBI (Securities and Exchange Board of India)
s:

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63% of world consumption. is a member of IOSCO.
 India is a member of the ICO.
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 Coffee cultivation: Grown in hot, humid

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DIGTIAL ECONOMY REPORT 2024

climates at 600 to 1,600 meters above sea Recent Update: The Digital Economy Report 2024
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level, with temperatures between 15°C and was recently released by UNCTAD (United Nations
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28°C and rainfall of 150 to 250 cm. Conference on Trade and Development), focusing on
s:

 Key coffee-producing states in India: digital economic trends.

Karnataka (70% of total output), Kerala, Tamil About:
Nadu, Andhra Pradesh, and Odisha.  UNCTAD was established in 1964 by the UN
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 Coffee species: Arabica (higher altitude, General Assembly as a permanent

aromatic) and Robusta (stronger, used in intergovernmental body.
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blends).  Its objective is to assist developing countries,

 India is the 6th largest producer of coffee particularly the least developed and
globally, while Brazil is the top producer. transitioning economies, in integrating into
 The Coffee Board of India operates under the the global economy.
Ministry of Commerce and was created under  Membership includes 195 nations, including
the Coffee Act, 1942. It is based in Bangalore. India.
 Headquarters are in Geneva, Switzerland.
MAIZE CULTIVATION  Key reports published by UNCTAD include the
Recent Update: Maize production in India has tripled Trade and Development Report and the
in the last two decades, shifting from a feed crop to a World Investment Report.
fuel crop.

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 AIPI global demographic trends and offering insights to
Recent Update: The IMF launched the Artificial support the achievement of Sustainable
Intelligence Preparedness Index (AIPI), evaluating the Development Goals (SDGs).
AI readiness of 174 countries. India is classified as an About:
Emerging Market Economy with a rating of 0.49,  UN-DESA supports countries in meeting
ranked 72nd. economic, social, and environmental goals to
About: achieve the SDGs.
 AIPI evaluates AI readiness in 174 countries  It provides policy advice, analytical products,
across four key areas: and technical assistance to assess progress.

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o Digital infrastructure  The headquarters is located in New York,
o Human capital and labour market policies USA.

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o Innovation and economic integration
o Regulation and ethics. NEW WORLD SOIL HEALTH INDEX
 Countries are classified into three categories:

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Recent Update: The New World Soil Health Index was
o Advanced Economies (AE), launched by UNESCO to standardize measures for

in
o Emerging Market Economies (EM), analyzing soil quality across regions and ecosystems. It
o Low-Income Countries (LIC). aims to track trends in soil degradation and

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 India ranks 72nd with a rating of 0.49 in the improvement.
Emerging Market category. About:

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 Leading Advanced Economies include  First edition of the World Soil Health Index.
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Singapore (0.80), Denmark (0.78), and the  It will help identify trends of soil degradation
United States (0.77). or improvement.

.x  75% of land is already degraded globally,

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GLOBAL EV OUTLOOK 2024 affecting 3.2 billion people.

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Recent Update: Electric Vehicles Report  In India, 32% of land is degraded, and 25% is
The International Energy Agency (IEA) released its desertifying.
s:

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annual report on electric mobility, focusing on global  Announced at the International Conference
developments in electric vehicles (EVs). The report on Soils in Morocco.
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highlights the price disparity between electric and

combustion engine cars, as well as the reliance of WORLD DRUG REPORT 2024
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Europe and the U.S. on imports for EV battery needs. Recent Update: The UN Office on Drugs and Crime
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About: (UNODC) released the World Drug Report 2024,

s:

 IEA Annual Report on electric mobility revealing a 20% increase in global drug use over the
discusses global trends in EV development. past decade, with 292 million users in 2022.
 Developed with the support of the Electric About:
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Vehicles Initiative (EVI).  UNODC was established in 1997 to combat

 Electric cars are 10% to 50% more expensive illicit drugs, crime, terrorism, and corruption.
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than combustion engine equivalents in  It produces the World Drug Report, assessing
Europe and the U.S., depending on country the international drug issue.
and car segment.  Cannabis is the most commonly used drug,
 Europe and the U.S. rely on imports for 20% followed by opioids, amphetamines, cocaine,
and 30% of their EV battery needs, and ecstasy.
respectively.  The report highlights the increasing global
drug problem.
WORLD POPULATION PROSPECTS 2024
Recent Update: The United Nations Department of GEM REPORT 2024
Economic and Social Affairs (UN-DESA) released the Recent Update: The Global Education Monitoring
World Population Prospects Report 2024, detailing (GEM) Report 2024, released by UNESCO, emphasizes

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 the impact of climate change on education systems ASUSE
and highlights the lack of attention to education in Recent Update: The ASUSE conducted by the
climate initiatives. National Sample Survey Office (NSSO) tracks informal
About: sector enterprises in India.
 Part of the Education 2030 Incheon About:
Declaration.  Focuses on non-agricultural establishments in
 Stresses the importance of addressing climate manufacturing, trade, and other services.
change in educational policies.  It is now an annual survey since 2019-20
 Only 2 out of 72 climate initiatives focus on (previously conducted once every five years).

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SDG 4 (quality education).  Uttar Pradesh, West Bengal, and
Maharashtra have the highest share of

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PATENT LANDSCAPE REPORT ON GEN AI informal sector enterprises.
Recent Update: The Patent Landscape Report on

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Generative AI was published by the World BRAP
Intellectual Property Organization (WIPO), revealing Recent Update: The Business Reforms Action Plan

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China's dominance in Generative AI patents. (BRAP), released by the Department for Promotion of
About: Industry and Internal Trade (DPIIT), assesses states'

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 China holds 70.3% of all Generative AI business reforms.
patents from 2014-2023. About:

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 India ranks 5th with 2.5% of global patents.  Introduced in 2014, the BRAP aims to improve
.m

 The report provides insights into global the Ease of Doing Business.
innovation trends in AI technologies.  States are assessed on 301 reform points

.x across 15 business regulatory areas.

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SDG REPORT 2024  BRAP 2020 included 72 reforms across 9

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Recent Update: The Sustainable Development Goals sectors, including trade licenses and
Report 2024 by the UN Department of Economic and healthcare.
s:

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Social Affairs (UN DESA) highlights the slow progress
in achieving SDGs. E- MOBILITY ROADMAP
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About: Recent Update: The e-Mobility R&D Roadmap for

 Less than one-fifth of global SDG targets are India was released by the Principal Scientific Adviser
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on track. to the Government of India, aiming to achieve net-

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 The 1987 Brundtland Commission introduced zero targets and make India Atmanirbhar in electric
s:

the concept of sustainable development. mobility.

 The 2030 Agenda for Sustainable About:
Development includes 17 SDGs and 169  Focuses on technical areas and research
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targets to be achieved by 2030. projects critical for the next five years.
About SDG India Index 2023-24  Aimed at fostering self-reliance in the e-
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The SDG India Index 2023-24, released by NITI Aayog, mobility sector.
tracks India’s progress towards the SDGs across states  Supports India's transition towards
and UTs. sustainable transportation and clean energy.
 113 indicators across 16 goals are assessed on
a scale of 1 to 100. SOURCE : VISION MONTHLY
 India’s score improved to 71 in 2023-24 from DIGITAL PUBLIC INFRASTRUCTURE (DPI)
66 in 2020-21. Recent Update
 Kerala and Uttarakhand topped with 79 The 'Report of India’s G20 Task Force on DPI' was
points; Bihar was the worst performer with released under India's G20 Presidency. The task force
57 points. was established in 2023 to promote Digital Public

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 Infrastructure (DPI) for economic transformation, GIG ECONOMY
financial inclusion, and global adoption. Recent Update
About the Report The Karnataka government has published the draft
 Task Force Establishment: Formed in 2023 Karnataka Platform-based Gig Workers (Social
under India’s G20 presidency to focus on DPI Security and Welfare) Bill.
and financial inclusion, with an aim to About the Bill
enhance global DPI adoption.  Welfare Board: Establishes a state-level board
 Framework: The report introduces a three- to ensure the welfare of gig workers.
part framework to advance global DPI.  Welfare Fund: A fund created from a welfare

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What is Digital Public Infrastructure (DPI)? fee on transactions between workers and
 Key Features: aggregators, along with contributions from

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o Secure, interoperable, and built on open the Union and State governments.
standards.  Rights-based: Aims to protect gig workers'

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o Ensures equitable access to public and rights, with obligations on aggregators
private services at scale. regarding social security and occupational

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o Governed by legal frameworks promoting health.
development, inclusion, innovation, and  Additional Features: Includes safeguards

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human rights. against unfair dismissals, a two-level
What is 'Not' DPI? grievance redressal mechanism, and

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 Complementary Interventions: Examples increased transparency in automated
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include connectivity infrastructure that decision-making by platforms.

enhances mobile or internet access.  Other States: Currently, Rajasthan is the only
 Non-Innovative Processes: Digitization of
.x state with a similar welfare legislation for gig
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existing workflows or physical processes for workers.

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government portals.
STRUCTURAL TRANSFORMATION
s:

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ANGEL TAX Recent Update
Recent Update The IMF released a Working Paper titled ‘Advancing
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In the 2024-25 Budget, the government announced India’s Structural Transformation and Catch-up to
the abolition of Angel Tax for all investor classes to the Technology Frontier’, outlining structural reforms
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promote entrepreneurship and innovation. to accelerate India's growth.

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About Angel Tax Structural Transformation

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 Recommendation: The DPIIT and CII had  Definition: Transition from low-productivity,
recommended the abolition ahead of the labour-intensive sectors (e.g., agriculture) to
budget. high-productivity, skill-intensive sectors (e.g.,
tp

 Definition: A tax levied on funding raised by services).

unlisted startups if their valuation exceeds Indicators of Structural Transformation
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the fair market value.  Shift from Agriculture: Resources move from
 Objective: Introduced in 2012 to prevent agriculture to higher-productivity sectors.
money laundering and tax evasion.  Sectorial Distribution: Increased share of
 Legal Basis: Levied under Section 56 (II) (viib) manufacturing and services, measured
of the Income Tax Act, 1961. through employment, value-added, and
 Coverage: Initially applied only to local consumption.
investors, but Budget 2023-24 expanded it to  Capital Accumulation: Growth in physical and
include foreign investments with some human capital, affecting demand, production,
exceptions. and trade.
 Migration: Rural-to-urban migration
supported by rural and urban development.

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  Demographic Transition: Shift from high to E-MOBILITY
low birth and death rates as seen in Recent Update
developed, urban areas. The “e-mobility R&D Roadmap for India” report has
been released by the Principal Scientific Adviser to the
SPACE ECONOMY Government of India to achieve net-zero targets,
Recent Update focusing on the key areas for immediate research and
In Budget 2024-25, the government announced the development in the next five years.
creation of a Rs. 1,000 crore venture capital fund to About the Report
promote the space economy in India.  Objective: To make India Atmanirbhar and a

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Need for Promoting Space Tech Start-ups global leader in innovative mobility solutions.
 Reducing Import Dependency: India’s space  Energy Storage Cells: Focus on finding lithium

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technology imports exceed export earnings by reserves, improving extraction technologies,
12 times (2021-22). and optimizing the supply chain for Li-battery
 Supporting ISRO: Space entrepreneurship can

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production.
allow ISRO to focus on core research like  EV Aggregates: Emphasis on Hybrid Energy

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interplanetary exploration. Storage Systems (HESS), combining batteries
 Shift to Demand-Driven Model: Integration of and supercapacitors.

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space technology can benefit sectors like  Material and Recycling: Economic analysis of
urban development through satellite data. the recycling value-chain and methods to

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 Global Competitiveness: To compete with monitor and report environmental impacts.
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companies like SpaceX and Blue Origin,  Charging and Refueling: Development of
India’s private space sector is allowed to carry dynamic wireless charging systems,
out end-to-end activities in space.
.x installation of road infrastructure for charging
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pads, and adaptive charging technologies.

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SUSTAINABLE DEVELOPMENT GOALS
Recent Update COAL SECTOR IN INDIA
s:

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The Sustainable Development Goals Report 2024 was Recent Update
released by the UN Department of Economic and The Ministry of Coal reported a decline in the
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Social Affairs (UN DESA), revealing that global Compound Annual Growth Rate (CAGR) of imported
progress on SDGs is lagging. coal from 13.94% (2004-05 to 2013-14) to -2.29%
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About the Sustainable Development Goals (SDGs) (2014-15 to 2023-24).

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 Background: The Brundtland Commission About Key Reforms in the Coal Sector
s:

Report (1987) defined sustainable  CMSP Act 2015: Enabled commercial mining
development as meeting present needs by private entities, with the first auctions held
without compromising future generations. in 2020.
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 Millennium Development Goals (MDGs): In  Mines and Minerals Amendment Act 2021:
2000, world leaders committed to combat Improved transparency and efficiency in
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poverty, hunger, disease, and inequality mining license allocation, and allowed
through the MDGs, with a 2015 target. Composite Prospecting-cum-Mining Leases.
 SDGs: In 2015, the 2030 Agenda for  National Coal Index (NCI): A price index that
Sustainable Development was adopted by UN tracks coal prices across various sale channels,
member states, establishing 17 Goals and 169 offering insights into market trends.
targets to be achieved by 2030, addressing  FDI & Technological Advancements: 100%
issues like poverty, inequality, climate FDI attracted global expertise and modern
change, and justice. technologies to the coal sector.
 Amendment to NCDP: Allowed transparent
sales of coal from closed/abandoned mines.

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 WORLD BANK GROUP GUARANTEE PLATFORM About Credit-Deposit (CD) Ratio
Recent Update  Definition: The CD ratio is the percentage of
The WBG Guarantees Platform (WBG GP) went live in loans a bank issues relative to its total
2024, consolidating all guarantee products under the deposits.
Multilateral Investment Guarantee Agency (MIGA).  Trends: The CD ratio has been increasing since
About WBG Guarantees Platform September 2021, peaking at 78.8% in
 Purpose: Aims to streamline infrastructure December 2023. Over 75% of banks with a
financing by offering guarantees for private high CD ratio are private sector banks.
lenders in projects with significant political Reasons for High CD Ratio

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and sovereign risks.  Higher Credit Growth:
 Previous Structure: Prior to WBG GP, 20 o Rising retail credit, including vehicle and

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different guarantee solutions existed, personal loans, grew at 25.2% CAGR from
hindering accessibility for clients. April 2022 to March 2024.
 Goals: Targeting an annual issuance of $20

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o Increased loans to businesses and MSMEs.
billion in guarantees by 2030; issued $10.3  Slower Deposit Growth:

in
billion in 2024. o Stiff competition among banks and a shift in
 Types of Coverage: customer behavior towards investing in

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o Credit Guarantees for public or private capital markets rather than saving in banks.
sector loans.

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o Trade Finance Guarantees. RBI DIRECTIONS ON FRAUD RISK MANAGEMENT
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o Political Risk Insurance for private sector Recent Update

projects or public-private partnerships. The Reserve Bank of India (RBI) has issued three

.x revised master directions on fraud risk management

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SAARC CURRENCY SWAP ARRANGEMENT for Regulated Entities.

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Recent Update About Regulated Entities under RBI
The RBI announced the SAARC Currency Swap  Commercial Banks (including Regional Rural
s:

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Framework for 2024-2027, revising the earlier Banks) and All India Financial Institutions
framework.  Cooperative Banks (Urban, State, and Central
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About SAARC Currency Swap Framework Cooperative Banks)

 Purpose: RBI will enter into bilateral swap  Non-Banking Financial Companies (including
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agreements with SAARC central banks to Housing Finance Companies)

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provide short-term forex liquidity.

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 Currency Swap Arrangement (CSA): A WAYS AND MEANS ADVANCES SCHEME

contract where two parties exchange Recent Update
currencies at a set rate and agree to re- The Reserve Bank of India (RBI) has increased the
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exchange them at a future date at an agreed Ways and Means Advance (WMA) limit for
rate. States/UTs to Rs 60,118 crore from the previous Rs
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 Background: The original SAARC Currency 47,010 crore to help manage fiscal situations more
Swap Framework was set up in 2012 to effectively.
address short-term forex liquidity needs of About Ways and Means Advance (WMA)
member countries.  Purpose: Provides temporary financial
support to States/UTs to meet mismatches in
CREDIT-DEPOSIT (CD) RATIO cash flow.
Recent Update  Types:
The Reserve Bank of India (RBI) expressed concerns o Normal WMA: Available after exhaustion of
over the rising Credit-Deposit (CD) ratio and urged Special WMA.
banks to reduce it by bridging the gap between credit
and deposit growth.

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 oSpecial WMA: Now known as Special NEW SEBI GUIDELINES FOR CREDIT RATING
Drawing Facility (SDF), with a lower AGENCIES (CRAS)
interest rate than Normal WMA. Recent Update
 Interest: Linked to the Repo rate. SEBI has issued new guidelines under the SEBI Act
About Special Drawing Facility (SDF) (1992) and CRA Regulations to improve the ease of
 Availed by: States/UTs using collateral like doing business for Credit Rating Agencies (CRAs) and
Consolidated Sinking Fund (CSF), Guarantee protect investor interests.
Redemption Fund (GRF), and Auction About Credit Rating in India
Treasury Bills (ATBs).  Guidelines:

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 Funds: CSF and GRF are reserve funds o Rating Communication: CRAs must
maintained with the RBI. communicate ratings to companies within

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one working day post-rating committee
DOMESTIC MONEY TRANSFER (DMT) meeting.

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Recent Update o Appeal: Companies can request a review
The Reserve Bank of India (RBI) has revised the within three working days.

in
framework for domestic money transfer to regulate o Public Disclosure: CRAs must disclose
services offered by regulated entities in India. The ratings publicly within seven working days

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revised framework will take effect from November 01, and inform stock exchanges/debenture
2024. trustees.

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About Domestic Money Transfer (DMT) o Record Maintenance: CRAs must keep
.m

 Introduced in 2011: Initially established to records of disclosures for 10 years.

regulate money transfer services in India.  Credit Ratings: Represent CRA’s assessment
 Regulation: Revised under the Payment and
.x of the likelihood of timely debt repayment
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Settlement Systems Act, 2007. and default risk.

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 Reason for Review: Increased banking outlets  CRAs: Defined under SEBI's CRA Regulations
and advancements in payment systems for (1999), these are bodies involved in rating
s:

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fund transfers. securities listed or to be listed on SEBI-
recognized exchanges.
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 Registered CRAs: CRISIL, CARE, ICRA, Acuité,

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FINANCIAL INCLUSION INDEX

Recent Update Brickwork, India Ratings, Infomerics.
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The RBI released the Financial Inclusion Index for

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March 2024, which stands at 64.2, up from 60.1 in INVERSE ETF

s:

March 2023. Recent Update

About Financial Inclusion Index SEBI has proposed the introduction of a new asset
 Purpose: Measures the extent of financial class for investors, including long-short equity funds
tp

inclusion in India. and inverse ETFs, offering diverse investment

 Components: Covers banking, investments, strategies.
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insurance, postal services, and the pension About Inverse ETF (Short ETF or Bear ETF)
sector.  Definition: An ETF using derivatives to profit
 Scoring: Ranges from 0 to 100, where 0 from a decline in the value of an underlying
indicates complete exclusion and 100 benchmark.
indicates full inclusion.  Structure: Tracks an index, commodity,
 Parameters: Includes Access (35%), Usage bonds, or a basket of assets.
(45%), and Quality (20%).  Objective: Gains from a drop in the underlying
 Publication: Released annually in July. asset's value.
 Holding Period: Designed for short-term
investments only.

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 SEHER PROGRAM  The guidelines recommend a combination of
Recent Update medication and behavioral interventions.
Women Entrepreneurship Platform (WEP) and About Tobacco Cessation Efforts:
TransUnion CIBIL have launched the SEHER Program  Global Need: 60% of tobacco users desire to
to empower women entrepreneurs through financial quit, but many lack adequate support.
literacy and business skills.  Cessation Approach: Combines medication
About SEHER Program with behavioral interventions for effective
 Objective: A credit education program aimed quitting.
at helping women entrepreneurs access  WHO's Goal: Assist in tobacco cessation

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financial tools for business growth. efforts, benefiting millions of users
 Components: Offers financial literacy content worldwide.

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and business skills development.
 Part of: WEP’s Financing Women STATE OF FOOD SECURITY AND NUTRITION

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Collaborative (FWC), designed to improve Recent Update: State of Food Security and Nutrition
access to finance for women entrepreneurs. in the World Report, 2024

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 Current Situation: Only 7% of MSME loans are  The report, released by FAO, IFAD, UNICEF,
provided to women-led businesses, WFP, and WHO, focuses on financing to end

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highlighting the need for enhanced credit hunger, food insecurity, and malnutrition.
access.  The report highlights the need for better

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financial tracking and accountability in
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SURVEY OF UNINCORPORATED ENTERPRISES addressing food security and nutrition.

Recent Update About the Report:
The Annual Survey of Unincorporated Sector
.x  Prepared by: Five UN agencies (FAO, IFAD,
//t

Enterprises (ASUSE) results for 2021-22 and 2022-23 UNICEF, WFP, WHO).
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were released by the National Sample Survey Office  Focus: Addressing financing gaps for ending
(NSSO), Ministry of Statistics and Programme hunger and malnutrition.
s:

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Implementation.  Need for New Definition: To tackle issues like
About Unincorporated Enterprise underfunding, accountability, and tracking
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 Definition: A producer unit that is not a

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progress in food security.

separate legal entity from its owner.
 Ownership: Assets used by the enterprise
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SOURCE: INDIAN EXPRESS & PIB

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belong to the owner, not the enterprise. NCERT REPORT CARD

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 Limitation: Cannot engage in transactions or Recent Update: The National Council of Educational
liabilities independently of the owner. Research and Training (NCERT), through its standard-
 Coverage: Includes proprietorships, setting body PARAKH, has released the new Holistic
tp

partnerships (excluding LLPs), SHGs, co- Progress Card (HPC) for secondary school students
operatives, and societies/trusts. (Classes 9-12). The HPC aims to broaden the scope of
ht

student evaluations beyond just academic marks,

WHO TOBACCO CESSATION GUIDELINE incorporating life skills like time management and
Recent Update: WHO's First Clinical Treatment financial literacy.
Guideline for Tobacco Cessation About:
 WHO has released its first-ever guideline to  Purpose of HPC: Designed to assess a wider
aid tobacco cessation in adults, aiming to help range of student competencies, including life
over 750 million tobacco users. skills, alongside academic performance.
 Over 60% of the world’s 1.25 billion tobacco  Implementation Timeline: Will be introduced
users want to quit, but 70% lack access to after training of teachers; states can adapt it
effective cessation services due to inefficient to local needs.
health systems and limited resources.

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  Realignment with NCFSE: Part of the effort to SHRI scheme. The funding, which amounts to Rs 1,845
align with the National Curriculum crore for the 2023-24 and 2024-25 periods, has been
Framework for School Education (NCFSE), withheld for these states.
focusing on skills rather than rote learning. About:
 Role in Board Examinations: HPC will  Samagra Shiksha Scheme: Supports the
supplement the Board exam results, offering implementation of the Right to Education
a more comprehensive view of student (RTE) Act, 2009, funding initiatives to improve
progress. school infrastructure and quality.
 Equivalence Across Boards: Aimed at  PM SHRI Scheme: Launched in 2022 to

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ensuring uniformity across different develop 14,500 schools across India to
educational boards in India. showcase the National Education Policy

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 Holistic Evaluation: Includes assessment in (NEP) 2020 and serve as exemplars.
areas such as life skills, extracurricular  Fund Allocation: The scheme has a total

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activities, and overall development. budget of Rs 27,360 crore for five years, with
the Centre contributing Rs 18,128 crore.

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UPPER SIANG HYDROPROJECT  Current Status: As of now, 10,077 schools are
Recent Update: Two anti-dam activists from listed under the PM SHRI dashboard,

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Arunachal Pradesh were detained ahead of Union including Kendriya Vidyalayas and Navodaya
Power Minister Manohar Lal Khattar’s visit to the Vidyalayas, as well as state-run schools.

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state. The activists intended to submit a  State Resistance: Funding has been stopped
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memorandum regarding the controversial Upper for the states opposing the scheme’s
Siang Multipurpose Storage Project. Despite the implementation. States are expected to

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detention, they claimed their intention was to express maintain benchmarks post-2026.
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concerns over the project, not to disrupt public order.

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About: STATE OF INFORMAL ECONOMY
 Upper Siang Project: A proposed 11,000 MW Recent Update: India’s informal sector contributes
s:

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hydropower project on the Siang River, set to nearly 50% to the economic output and employs over
be constructed by the National Hydroelectric 75% of the workforce.
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Power Corporation (NHPC). About:

 Strategic and Environmental Concerns: The  Informal Sector: Includes small and medium
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project would feature a 300-meter high dam, enterprises (SMEs), household enterprises,
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the largest in South Asia. It is seen as crucial and partnerships.

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for countering China's hydroelectric projects  Job Losses: Around 16.45 lakh jobs have been
on the Tsangpo River in Tibet. lost in the sector due to economic shocks.
 Hydropower Potential: The project’s capacity  Impact of Shocks: Demonetisation (2016),
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is 60% of the combined installed capacity of GST rollout (2017), and Covid-19 (2020)
18,326 MW from 29 hydro projects in the significantly affected the informal sector.
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Siang basin.  Unincorporated Enterprises: Include MSMEs,

 Geopolitical Significance: Positioned as a own-account enterprises, and establishments
strategic initiative to strengthen India's in manufacturing, trade, and services.
position in the region, the project has stirred  Employment Quality: New jobs created are
local opposition due to its environmental and mostly in own-account enterprises, signaling
social impact concerns. a decline in employment quality.

PM SHRI WHEELCHAIR TAX

Recent Update: The Centre has stopped funding the Recent Update: The Goods and Services Tax (GST)
Samagra Shiksha Scheme in West Bengal, Punjab, regime in India, which came into effect in 2017,
and Delhi due to their refusal to implement the PM

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 imposes a 5% tax on essential aids for the disabled, highlights several economic challenges while
such as prosthetic limbs, Braillers, and wheelchairs. providing strategic solutions.
About: About:
 GST on Mobility Aids: Disabled individuals are  Global Challenges: High interest rates in
taxed 5% on essential items like prosthetic developed countries and geopolitical
limbs, wheelchairs, and Braillers. uncertainties hinder FDI and global
 Unfair Tax Burden: The tax disproportionately investments.
affects the disabled, making basic mobility  China Dependency: India remains reliant on
and access to knowledge more expensive. China for imports, particularly in renewable

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 Constitutional Concern: The tax violates energy and low-skill manufacturing.
Article 14 of the Constitution, which  AI Threat: The rise of AI could disrupt BPO

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mandates equality before the law. and related sectors.
 Example of Discrimination: A wheelchair user  Private Investment: Corporate sector has not

X_
pays Rs 10 per kilometre due to the tax, while responded adequately despite tax cuts; profits
able-bodied individuals face no such burden. have surged, but hiring and wages have not

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 Prime Minister’s Concern: Despite Modi's kept pace.
advocacy for the disabled as "divyang"  Employment Requirement: India needs to

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(divine), the policy remains unjust. create nearly 78.5 lakh jobs annually until
2030 in the non-farm sector.

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GREEN REVOLUTIN IN MAIZE  Data Deficiency: Lack of timely and quality
.m

Recent Update: India's maize production has seen a data, especially on employment, hampers
remarkable surge from 11.5 million tonnes (mt) in accurate analysis.
1999-2000 to over 35 million tonnes in 2023-24.
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While the Green Revolution focused on wheat and excessive screen time and poor diet, threaten
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rice, maize has quietly transformed into a key crop, public health and productivity.
especially for poultry and livestock feed. Recommended Solutions:
s:

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About:  Private Sector Job Creation: Encourage
 Maize Growth: Maize output has tripled from corporates to take responsibility for job
tp

11.5 mt to 35+ mt from 1999-2024. creation.

 Consumption: Only 20% of maize is consumed  Farm Sector Revival: Focus on agriculture for
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directly as food; the majority is used as feed higher value addition and youth employment
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for poultry (60%) and livestock. opportunities.

s:

 Maize in Animal Feed: Maize is a primary  Regulatory Relief: Reduce the burden of
energy source for poultry and livestock—it regulatory compliance, especially for MSMEs.
makes up 55-65% of broiler feed.
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 Economic Impact: The demand for maize is CENTRE’S SUBSIDY

driven by its use in chicken, egg, and milk Recent Update: The Centre’s subsidy outgo for 2024-
ht

production, indirectly benefiting households. 25 is set to decline to a five-year low, both in absolute
 Agricultural Institutions: The increase in terms and as a percentage of GDP. This reduction
maize production follows the Green comes despite no price hikes in fertilizers for farmers
Revolution's legacy, supported by research or foodgrains under the Public Distribution System
bodies like CIMMYT. (PDS).
About:
ECONOMIC SURVEY KEY TAKEAWAYS  Subsidy Decline: The subsidy bill peaked at Rs
Recent Update: The Economic Survey 2023-24 758,165 crore (3.8% of GDP) in 2020-21 but is
presents a realistic outlook for India’s economic expected to fall to Rs 428,423 crore (1.3% of
growth, forecasting a GDP growth rate of 6.5%-7% for GDP) in 2024-25.
FY 2024-25, despite an 8% growth in FY 2023-24. It  Key Factors:

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 oEnd of COVID-era grain allocations: Source (TDS) and introduces measures to reduce
Discontinuation of the additional 5-kg grain litigation through the Vivad Se Vishwas Scheme.
allocation under Pradhan Mantri Garib About:
Kalyan Anna Yojana from January 2023.  Decriminalization of TDS Violations: Late
o Fertilizer Subsidy: A reduction in the payment of TDS will no longer be a criminal
fertilizer subsidy, from Rs 251,339 crore in offense, reducing the risk of litigation.
2022-23 to Rs 164,000 crore in 2024-25,  Vivad Se Vishwas Scheme: The scheme will
due to lower global prices of urea, DAP, and help in settling direct tax disputes and
MOP. provide immunity to individuals involved in

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 Global Price Trends: Prices for imported benami transactions if they turn approver.
fertilizers have significantly decreased from  Simplification of Tax Regime:

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highs during the Russia-Ukraine war, with o Merging of trust regimes for tax exemption
urea prices falling from $900-1000 per tonne and simplifying registration and approval

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to $350. processes for charitable institutions.
o Non-reporting of small foreign assets will

in
RENTAL INCOME also be decriminalized to reduce
Recent Update: In Union Budget 2024, rental income complexity.

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from residential properties will be taxed under
‘Income from House Property’ instead of Income CUSTOM DUTY

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from Business or Profession. Recent Update: Finance Minister Nirmala Sitharaman
.m

About: announced a reduction in customs duties on various

 Clarification of Tax Treatment: Income from input materials, effective from July 24, to rectify the

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letting out residential house property will be inverted duty structure harming manufacturing.
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considered under the head “Income from About:

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House Property”, aiming to close loopholes  Inverted Duty Structure: Occurs when import
used to reduce tax liability. duties on inputs are higher than taxes on the
s:

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 Amendment to Income Tax Act: Section 28 of final product, impacting the manufacturing
the Income Tax Act will be amended to make sector.
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 Key Reductions:
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this provision clearer, preventing misuse of

tax deductions. o Customs duties on gold, silver (from 15% to
ht

6%), and platinum (from 15.4% to 6.4%) to

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NPS DEDUCTION FOR EMPLOYEES support the gems and jewellery industry.
s:

Recent Update: Union Budget 2024 raises the o Reduced customs duty on mobile phones,
employer’s contribution to the National Pension PCBA, and chargers to 15% (from 20%) to
System (NPS) for employees, enhancing tax benefits. boost the mobile manufacturing sector.
tp

About: o Critical minerals like lithium, cobalt, and

 NPS Contribution Deduction Increased: rare earth elements exempted from
ht

Employer contributions to NPS will now be customs duties to support sectors like
deductible at 14% of basic salary, up from the renewable energy, space defence, and
current 10% under the new tax regime. telecommunications.
 Impact on Employees: This change applies to o Reduced duties on input materials for the
both public and private sector companies, marine, leather, and textile industries to
allowing employees to save on taxes and promote growth.
increase their pension pool for social security.
E-COMMERCE EXPORT HUBS
TAX SIMPLIFICATION Recent Update:
Recent Update: The Union Budget 2024 proposes Finance Minister Nirmala Sitharaman announced the
decriminalizing the late payment of Tax Deducted at establishment of e-commerce export hubs across

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 India in Public-Private Partnership (PPP) mode to DIGITIZE FARMING SECTOR
enhance exports. Recent Update: Finance Minister Nirmala Sitharaman
About: announced the implementation of Digital Public
 E-Commerce Export Growth: India’s e- Infrastructure (DPI) in agriculture over the next three
commerce exports stand at $5 billion, a small years, aiming to enhance farmers' access to
fraction compared to China’s $300 billion. government services, provide customized advisories,
 Sector Challenges: Indian exports face and create a digital database.
disruptions due to external shocks like the About:
Russia-Ukraine war, Red Sea crisis, and trade  DPI for Agriculture:

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tensions. o Will ease farmer access to government
 Targeted Sectors: The focus is on MSMEs, schemes, advisories, and services.

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artisans, and small businesses exporting o A DPI-based crop survey will be conducted
handicrafts, art, garments, gems, and in 400 districts during the Kharif season,

X_
jewellery. creating a digital database of 6 crore
 Potential for Growth: The sector is expected farmers and their crops.

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to grow faster than India’s IT exports did in  AgriStack:
the early 2000s, with opportunities for global o Includes farmers' registry, crop registry,

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trade expansion. and Geo-referenced maps.
o Facilitates digital crop surveys and

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PLI SCHEMES integration with land records.
.m

Recent Update: In Union Budget 2024, Finance  Krishi-DSS:

Minister Nirmala Sitharaman significantly increased o A repository of geospatial data (weather,
the budget for Production Linked Incentive (PLI)
.x soil, crops, groundwater) for evidence-
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schemes for sectors such as automobiles, based decision-making.

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smartphones, IT hardware, food processing, and  Budget Allocation: Rs 1.52 lakh crore
electronics. allocated for the agriculture sector.
s:

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About:  MoUs: 14 states and UTs have signed MoUs
 Hike in Allocations: with the Centre for implementation.
tp

o Automobiles & Auto Components PLI

allocation increased by 620%, from Rs 484 PM GRAM SADAK YOJANA
ht

crore (2023-24) to Rs 3500 crore (2024-25). Recent Update: Finance Minister Nirmala Sitharaman
//

o Electronics sector PLI allocation raised by announced the Phase IV of PMGSY to connect 25,000
s:

37%, from Rs 4500 crore to Rs 6200 crore. villages with all-weather roads and allocated Rs
 Focus Areas: The increased allocations focus 19,000 crore for 2024-25. Additional provisions were
on mobile phones, laptops, and made for PMAY and Jal Jeevan Mission.
tp

semiconductors production, aiming to boost About:

manufacturing and exports.  PMGSY Phase IV:
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 R&D Funding: The R&D budget for the IT and o Aims to improve rural infrastructure by
electronics sector was increased from Rs 1000 connecting 25,000 villages to all-weather
crore to Rs 1148 crore. roads.
 FAME Scheme Reduction: FAME (Faster o Total allocation for rural development: Rs
Adoption and Manufacturing of Hybrid and 2.66 lakh crore (11.2% increase from last
Electric Vehicles) saw a 44% reduction in year).
allocation due to concerns over norm  PMAY:
violations. o 2 crore rural houses under PMAY-Gramin
with Rs 54,500 crore allocation.
 Jal Jeevan Mission:

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 o Allocated Rs 69,926.65 crore for clean development of 63,000 tribal villages, aimed at
water projects. improving the livelihoods of 5 crore people from tribal
communities.
NAMO DRONE DIDI SCHEME About:
Recent Update: Rs 500 crore allocated for the Namo  Pradhan Mantri Janjatiya Unnat Gram
Drone Didi Scheme, providing drones to 15,000 Abhiyan:
women self-help groups (SHGs), alongside support for o Focus on saturation coverage for tribal
1 crore farmers for natural farming. families in tribal-majority villages and
About: aspirational districts.

S
 Namo Drone Didi:  Increased Allocations:
o Aimed at empowering women SHGs o Rs 13,000 crore allocated to the Ministry of

IA
through drone technology for agricultural Tribal Affairs, a 70% increase from the
tasks. revised estimate of last year.
 Eklavya Model Schools:

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o Rs 500 crore allocated for the scheme.
 National Mission on Natural Farming: o Rs 6,339 crore allocated for providing

in
o Rs 365.64 crore allocated (a decrease from quality education to ST students in
last year). residential schools.

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 Jan Samarth Platform:  Post-Matric Scholarship:
o Online platform to enable access to Kisan o Allocation increased to Rs 2,432.68 crore

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Credit in 5 states. for ST students.
.m

 Agriculture Sector Allocation:  PM Janjatiya Vikas Mission (PMJVM):

o Rs 1.52 lakh crore for agriculture, with Rs o Allocation reduced by Rs 136 crore.
7,137 crore for Fisheries and Animal
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//t

Husbandry. CREDIT RATING MECHANISM

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Recent Update: A new credit rating mechanism for
CUSTOMS DUTY CUT ON CANCER DRUGS MSMEs was proposed, allowing public sector banks
s:

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Recent Update: Customs duties have been fully to assess credit eligibility directly. The Mudra loan
exempted on three cancer drugs: trastuzumab limit was raised from Rs 10 lakh to Rs 20 lakh.
tp

deruxtecan, osimertinib, and durvalumab, providing About:

relief to cancer patients.  Credit Rating Mechanism:
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About: o PSBs will now assess credit eligibility for

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 Customs Duty Exemption: MSMEs instead of relying on external

s:

o The exemption applies to targeted cancer agencies.

therapies: trastuzumab deruxtecan,  Mudra Loan Increase:
osimertinib, and durvalumab. o Mudra loan limit raised to Rs 20 lakh for
tp

o These drugs were previously expensive, entrepreneurs with good repayment

costing up to Rs 5 lakh/month. records.
ht

 Specific Drugs:  Credit Guarantee Scheme:

o Osimertinib: Treats lung cancer, costing Rs o For purchase of machinery and equipment
1.5 lakh for 10 pills. without collateral.
o Trastuzumab deruxtecan: Used for breast  TReDS Platform:
and stomach cancer. o Threshold for mandatory onboarding
o Durvalumab: Used for lung and bladder lowered from Rs 500 crore to Rs 250 crore
cancer, costing Rs 1.5 lakh for 10ml vial. for MSME buyers.
 SIDBI Branch Expansion:
DEVELOPMENT OF TRIBAL VILLAGES o Opening 24 new branches to serve MSME
Recent Update: Finance Minister Nirmala Sitharaman clusters.
announced a new scheme for the socio-economic

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 CREDIT RELIEF SCHEME  Total MEA Budget: Rs 22,155 crore for 2024-
Recent Update: A new credit relief system for MSMEs 25, up from Rs 18,050 crore in 2023-24.
in Special Mention Accounts (SMA) was introduced to  Bhutan: Receives the highest share of aid at
help them avoid turning into Non-Performing Assets Rs 2,068 crore.
(NPAs).  Nepal: Increased allocation to Rs 700 crore
About: from Rs 550 crore.
 Special Mention Accounts (SMA):  Seychelles and Sri Lanka: Allocations
o Three stages of SMA (SMA-0, SMA-1, SMA- increased, with Sri Lanka receiving Rs 245
2) to identify stress before accounts turn crore.

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into NPAs.  Chabahar Port: Continues to receive Rs 100
 Credit Continuity: crore.

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o Mechanism ensures continued credit for  Focus on Infrastructure & Development
MSMEs facing stress, avoiding NPA Projects: Aid aimed at strengthening relations

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classification. and supporting development in neighbouring
 Government Guarantee Fund: and other developing countries.

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o A guarantee fund will support credit
availability for MSMEs in stress. DEFENCE BUDGET

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Recent Update: India’s Defence Budget for 2024-25 is
BUDGET ALLOCATION TO CAPF set at Rs 6.22 lakh crore, with a modest increase of Rs

ia
Recent Update: The Ministry of Home Affairs (MHA) 500 crore. The modernization budget for the military
.m

received Rs 2.19 lakh crore in the 2024-25 budget, stands at Rs 1.72 lakh crore, reflecting a 6% rise from
with the majority allocated to Central Armed Police last year. Significant investments are being made in
Forces (CAPFs).
.x defence innovation and research and development.
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About: About:
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 CAPFs:  Total Defence Budget: Rs 6.22 lakh crore,
o Rs 1.43 lakh crore allocated to CAPFs 4.79% higher than last year.
s:

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responsible for internal security, border  Modernization: Rs 1.72 lakh crore allocated
guarding, and vital installations security. for military upgrades, a 6% rise.
tp

 Census Allocation:  Defence Innovation: Rs 400 crore allocated

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o Rs 1,309.46 crore allocated for the 2024 for iDEX scheme supporting startups and
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census, a significant reduction from technological development.

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previous years.  Revenue Budget: Rs 2.82 lakh crore for

s:

 Regional Allocations: operational expenses and Agnipath Scheme.

o Funds allocated to Jammu & Kashmir,  Ex-serviceman Welfare: Increased allocation
Andaman & Nicobar, Chandigarh, Ladakh, of 28% over the last year.
tp

and Lakshadweep for local development.  Defence R&D: Budget raised to Rs 23,855
crore.
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NEIGHBOURHOOD SUPPORT
Recent Update: In Budget 2024, the Ministry of NIPUN BHARAT MISSION
External Affairs (MEA) has been allocated Rs 4,883 Recent Update: The NIPUN Bharat Mission, launched
crore for foreign aid, with a significant focus on in 2021 under NEP 2020, aims to ensure that by Grade
neighbouring countries. Bhutan is the largest 3, children acquire foundational literacy and
beneficiary, receiving Rs 2,068 crore, followed by numeracy skills. A key focus of the mission is the role
Nepal at Rs 700 crore. Other countries such as Sri of educated mothers in boosting the learning
Lanka, Maldives, and Afghanistan also saw varying outcomes of young children (ages 4-8), as they can
increases in their allocations. support early education efforts both at home and in
About: collaboration with schools.
About:

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  NIPUN Bharat Mission: Launched in 2021 to  The report tracks progress towards achieving
promote reading, understanding, and gender equality and identifies gaps in these
numeracy for young children. areas worldwide.
 Role of Mothers: Educated mothers play a
vital role in supporting early childhood
education, contributing to their children’s INDIAN POVERTY
literacy and numeracy development. Recent Update: India's poverty is increasingly driven
 NEP 2020: Emphasizes foundational literacy by unforeseen circumstances such as climate change,
by Grade 3, with a focus on teacher training with poverty levels reducing significantly.

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and teaching materials. About:
 Impact on Early Education: Leveraging the  India’s poverty rate has dropped to 5%, as per

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involvement of mothers enhances learning the latest NSSO consumer expenditure
outcomes and strengthens the educational survey, indicating significant economic

X_
journey. progress.
 Prosperity is rising in both rural and urban

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SOURCE: DOWN TO EARTH India, with per capita household expenditure
HEAT STRESS more than doubling from 2011-12 to 2022-23.

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Recent Update: States and private entities in India are  This improvement is reflective of increased
implementing insurance schemes to protect livestock consumption in both rural and urban areas,

ia
rearers from milk production losses caused by heat demonstrating economic resilience.
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stress.
About Livestock in India: SOURCE: INSIGHTS MONTHLY

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 India has one of the largest and most diverse BALANCE OF PAYMENTS
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livestock populations globally, including Recent Update:

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cattle, buffaloes, sheep, goats, pigs, poultry, India's current account registered a surplus in Q4 of
and more. 2023-24, driven by higher service exports and
s:

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 Livestock serves multiple purposes, such as remittances, despite a trade deficit.
milk production, meat, draught power, and About:
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 BoP is a systematic record of all economic

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fibre.
 Heat stress negatively impacts milk transactions between a country and the rest
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production and livestock health, leading to of the world during a specific period (usually
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efforts for protective measures. one year). It indicates whether a country has a
s:

trade surplus (exports > imports) or a trade

GLOBAL GENDER GAP REPORT 2024 deficit (imports > exports).
Recent Update: The World Economic Forum (WEF)  Components of BoP:
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recently released the ‘Global Gender Gap Report o Current Account: Tracks exports and
2024’, which evaluates global progress toward gender imports of both visible (goods) and invisible
ht

equality. (services, remittances, income) items.

About the Global Gender Gap Index: Surplus in Q4 of 2023 due to higher service
 It is an annual benchmark assessing gender exports and remittances.
parity across four key dimensions: o Capital Account: Records capital
1. Economic Participation and movements such as FDI, FPI, and ECB. Q4 of
Opportunity 2023 showed a net surplus of $25 billion.
2. Educational Attainment o Errors and Omissions: Accounts for
3. Health and Survival discrepancies in recording international
4. Political Empowerment transactions.

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 o Changes in Foreign Exchange Reserves: eSANKHYIKI PORTAL
Reflects the movement of foreign currency Recent Update: The Ministry of Statistics and
assets held by the RBI and SDR balances. Programme Implementation (MoSPI) launched the
eSankhyiki portal on Statistics Day (June 29) to
SKILL UP improve user access to official data.
Recent Update: About eSankhyiki Portal:
India's unemployment rate has risen consistently,  Data Catalogue Module: Provides centralized
reaching 9.2% in June 2024, with over 42% of under- access to over 2291 datasets such as National
25 graduates unemployed in 2021-22, highlighting the Accounts Statistics and Consumer Price Index

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issue of jobless growth despite economic expansion. (CPI), with search, download, and visualization
About: options.

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 Economic Growth vs. Job Creation: Economic  Macro Indicators Module: Offers time-series
growth has not translated into corresponding data on macro indicators like National

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job creation, especially for the youth. Accounts and CPI, with filtering, visualization,
 Unemployment Rate: Increased consistently and API sharing for greater data reusability.

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over two decades, from 2% in 2010 to 9.2% in
2024 (Centre for Monitoring Indian Economy). PRODUCER PRICE INDEX (PPI)

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 Youth Unemployment: Over 42% of under-25 Recent Update: The DPIIT is finalizing a new model of
graduates were unemployed in 2021-22. the Producer Price Index (PPI) to better capture input

ia
 Jobless Growth: Despite robust GDP growth prices in the economy.
.m

in the 2000s, the employment growth rate About Producer Price Index (PPI):
has remained sluggish, leading to a scenario  Definition: Measures average changes in
of jobless growth.
.x prices received by producers for goods and
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services sold in domestic or export markets.

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FRBM ACT 2024  Types:
Recent Update: o Output PPI: Measures prices for
s:

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The FRBM Act of 2003 aimed to reduce India's gross goods and services leaving production
fiscal deficit (GFD) to 3% of GDP by 2008. In April sites.
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2018, it was replaced with a debt-GDP ratio of 40%, o Input PPI: Tracks prices for goods and
with GFD of 3% becoming an operational target. services entering the production
ht

About: process.
//

 What is the FRBM Act?:

s:

o The Fiscal Responsibility and Budget STABLECOINS

Management (FRBM) Act, enacted in 2003, Recent Update: Recent volatility in the stablecoin
seeks to ensure fiscal discipline by setting market, including the collapse of TerraUSD, highlights
tp

targets for reducing the gross fiscal deficit challenges faced by these digital assets.
(GFD) and the debt-to-GDP ratio. About Stablecoins:
ht

 Main Objectives of the FRBM Act:  Definition: Digital currencies designed to

o Fiscal Discipline: Aims to reduce revenue maintain a stable value by pegging to assets
and fiscal deficits to sustainable levels. like fiat currencies (USD, EUR), commodities
o Debt Management: Ensures public debt is (gold), or other cryptocurrencies.
kept within reasonable limits, with  Purpose: Aim to reduce price volatility,
enhanced transparency and accountability making them useful for transactions and as a
through specific fiscal targets and regular store of value in the volatile cryptocurrency
reporting. market.
 Examples: USD Coin, GEMINI Dollar, PAXOS,
TrueUSD, Tether.

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 ZOMBIE START-UPS  Despite a well-rated green bond framework in
Recent Update: Koo, the Indian social media India, more capital potential exists than actual
platform, is shutting down after failing to secure capital flow for energy transition in emerging
major partnerships with larger companies and media markets.
houses.  Developed countries must provide more
About Zombie Start-ups: accessible financial resources in line with
 Definition: Companies that remain in UNFCCC and Paris Agreement goals.
operation but are struggling to grow,
innovate, or generate significant revenue. LIQUIDITY COVERAGE RATIO (LCR)

S
 Characteristics: These businesses often rely Recent Update: The Reserve Bank of India (RBI)'s
on prior funding or have minimal operational new draft guidelines require banks to account for

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costs, continuing to exist despite stagnation. outflows from digital deposits when calculating the
 Example: Koo faced declining users, Liquidity Coverage Ratio (LCR), potentially impacting

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increasing losses, and layoffs despite initial credit growth.
success About LCR:

in
 The Liquidity Coverage Ratio (LCR) ensures
GLOBAL CAPABILITY CENTRES (GCCs) banks maintain enough high-quality liquid

s.
e/
Recent Update: Global Capability Centres (GCCs) in assets (HQLA) to cover short-term obligations
India contribute over 1% to the nation's GDP, driving during financial stress.

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services exports and employment. In FY24, GCCs'  Basel III agreement introduced the LCR as a
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other business services accounted for 26% of services regulatory measure for banks to ensure their
exports. survival during financial crises.
About GCCs:
.x  LCR requires banks to hold liquid assets that
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 GCCs employ 3.2 million professionals, can be converted to cash within 30 days of
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including engineers and scientists. stress.
 Key sectors: Engineering, Research &
s:

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Development (ER&D), Business Process PROMPT CORRECTIVE ACTION (PCA) FRAMEWORK
Management (BPM), and IT services. Recent Update: The Reserve Bank of India (RBI) has
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 Expansion in tier-II cities due to cost benefits

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introduced a Prompt Corrective Action (PCA)

and talent pools. framework for Urban Cooperative Banks (UCBs),
 Government initiatives like Digital India and
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replacing the previous Supervisory Action Framework

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supportive state policies in Karnataka, (SAF).

s:

Telangana, and Tamil Nadu promote growth About PCA Framework:

in sectors like automotive, electric vehicles,  The PCA framework ensures timely
electronics, and pharmaceuticals. supervisory intervention and prompts
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remedial measures to restore UCBs' financial

GREENIUM health.
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Recent Update: India’s sovereign green bonds have  It offers flexibility with entity-specific
faced challenges in attracting significant green supervisory action plans based on individual
premiums, affecting the financing of green transition risk assessments.
projects, as per the Economic Survey.  Focus areas: Capital, Asset Quality, and
About Greenium: Profitability, particularly for larger UCBs.
 Greenium refers to the yield difference  It does not apply to small Tier 1 UCBs, and RBI
between green-themed bonds and regular categorizes UCBs into four tiers for regulation.
bonds of the same maturity.
 It is based on the premise that investors pay a SOURCE: DRISHTI MONTHLY
premium for bonds with sustainable impact. INDIA’S PHARMACEUTICAL INDUSTRY
Recent Update:

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 Around 36% of pharmaceutical manufacturing units o UNESCO World Heritage: Mamallapuram
inspected by the Central Drug Standards Control lighthouse offers stunning views of the
Organisation (CDSCO) were shut down for failing to shore temple complex.
meet quality standards during risk-based inspections
since December 2022. HYBRID ELECTRIC VEHICLES
About: Recent Update:
 India’s Pharmaceutical Industry: The Uttar Pradesh government has announced a
o India is the largest provider of generic waiver of registration fees for strong hybrid and
medicines and 60% of global vaccine plug-in hybrid electric vehicles (EVs), aligning with

S
production. Tamil Nadu and Chandigarh in promoting cleaner
o It is the 3rd largest pharmaceutical market alternatives to petrol and diesel vehicles.

IA
in volume and 14th largest by value. About:
o The pharmaceutical sector contributes  What is a Hybrid Electric Vehicle (HEV)?

X_
1.72% to India's GDP. o A Hybrid Electric Vehicle (HEV) uses both
 Market Size & Investments: an internal combustion engine (usually

in
o India is a top 12 biotechnology destination petrol) and a battery-powered motor.
and 3rd largest in Asia Pacific. o The petrol engine drives the vehicle and

s.
e/
o The market is expected to reach 13% of the charges the battery when it's empty,
global pharma market by 2030. making it less efficient than fully electric or

ia
o FDI: Up to 100% for Greenfield projects and plug-in hybrid vehicles.
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74% for Brownfield projects (subject to  Types of Electric Vehicles (EVs):

approval). o Battery Electric Vehicle (BEV): Fully

.x powered by electricity, more efficient than

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LIGHTHOUSE TOURISM hybrids.

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Recent Update: o Fuel Cell Electric Vehicle (FCEV): Powered
The Union Minister of Ports, Shipping & Waterways by electric energy produced from chemical
s:

w
announced plans to promote lighthouse tourism energy (e.g., Hydrogen FCEVs).
under the Maritime India Vision (MIV) 2030 and o Hybrid Electric Vehicle (HEV): Combines
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Maritime Amrit Kaal Vision 2047 during a both a petrol engine and a battery motor,
stakeholders meeting in Vizhinjam, Kerala. offering less efficiency than BEVs or PHEVs.
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About:
//

 What is a Lighthouse? FINANCIAL STABILITY REPORT 2024

s:

o A lighthouse is a tower or structure Recent Update:

emitting light to aid navigation, marking The Reserve Bank of India (RBI)'s bi-annual Financial
hazardous coastlines, reefs, and safe Stability Report (FSR) for June 2024 highlights India's
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harbour entries. strong financial resilience amid global uncertainties.

o India maintains 194 lighthouses along its However, it raises concerns over the rise of digital
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coastal line and islands. personal loans and their potential impact on financial
 Historical Role: stability.
o Ancient India: References to navigation in About:
the Rigveda and Satapatha Brahmana,  Global Macrofinancial Risks:
along with sea voyages by Varuna and o The global economy shows resilience
Vashistha. amidst risks, with the IMF projecting 3.2%
o 7th Century: Pallava king growth in 2024, and the World Bank
Narasimhavarman-I established a forecasting 2.6%.
lighthouse at Mamallapuram using log o Risks include disinflation, high public debt,
fires. geopolitical tensions, climate disasters,
and cyber threats.

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 oEmerging Market Economies (EMEs)  What is the Buffer Stock Policy?
remain vulnerable to external shocks. o A buffer stock is a reserve of commodities
 Domestic Macrofinancial Risks: used to stabilize prices and address
o India’s strong macroeconomic emergencies, first introduced during the
fundamentals support its sustained growth. 4th Five Year Plan (1969-74).
o Moderating inflation, a strong external  Purpose of Buffer Stocks:
position, and ongoing fiscal consolidation o Food Security: To meet minimum buffer
bolster confidence. stock norms for food security.
o Targeted Public Distribution System

S
RECORD PATENTS (TPDS): To supply food grains for welfare
Recent Update: schemes.

IA
India issued approximately one lakh patents in 2024, o Emergency Situations: To address crop
reflecting a significant increase in patent approvals, failures or natural disasters.

X_
as highlighted by the Union Minister of Commerce o Price Stabilization: To moderate open
and Industry. market prices through market intervention.

in
About:
 What is a Patent? CLIMATE RESILIENT AGRICULTURE

s.
e/
o A patent grants a legal right to an Recent Update: The Union Government is planning to
invention, preventing others from introduce a framework to promote climate-resilient

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replicating, using, or selling it within a given agriculture in 50,000 villages located in climatically
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territory. vulnerable districts.

o The Patents Act, 1970 governs the patent About:
system in India, with rules regularly
.x  What is Climate Resilient Agriculture (CRA)?
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amended, most recently in 2024. o Climate Resilient Agriculture (CRA) is

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 Patents Act, 1970: defined by the FAO as the ability of
o Enacted in 1972, it replaced the Indian agricultural systems to anticipate, adapt to,
s:

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Patents and Designs Act 1911. absorb, and recover from climate impacts
o The 2005 amendment extended product and extreme weather events.
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 Impact of Climate Change on Agriculture:

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patents to all fields, including food, drugs,

and chemicals. o NICRA (National Innovations on Climate
 Key Changes Under Patents (Amendment)
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Resilient Agriculture), a project by ICAR,

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Rules, 2024: studies the effects of climate change on

s:

o Reduced timeline for filing a Request for farming.

Examination (RFE): From 48 months to 31 o Extreme events like drought impact food
months. and nutrition, increase poverty, migration,
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o Introduction of a Certificate of Inventorship indebtedness, and reduce farmers'

to acknowledge inventors' contributions. adaptation capacity.
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o Filing frequency of statements reduced

from annually to once every three years. REPORT ON CURRENCY AND FINANCE
Recent Update: According to the 2023-24 Report on
BUFFER STOCK Currency and Finance (RCF) by the Reserve Bank of
Recent Update: India (RBI), India’s digital economy is projected to
Open market sales of wheat and chana have account for 20% of GDP by 2026, up from the current
effectively reduced inflation in cereals and pulses, 10%, highlighting the transformative impact of
emphasizing the need to expand buffer stocks to digitalization on the economy.
include other staples, especially amid climate-induced About the Report on Currency and Finance
supply disruptions and price fluctuations.
About:

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  Publication: The RCF is an annual report  Regulatory Framework: Auctions will follow
published by the RBI covering aspects of the Offshore Areas Mineral (Development
India's economy and financial system. and Regulation) Act (OAMDR), 2002, with
 Theme: The theme for 2023-24 is "India’s composite licenses for exploration, resource
Digital Revolution", focusing on the impact of determination, and commercial production.
digitalization across sectors, particularly in
finance. INTEREST EQUALIZATION SCHEME
 Dimensions: The report examines how digital Recent Update: The Interest Equalization Scheme
technologies are reshaping economic growth, (IES), which subsidized interest rates on export credit,

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financial inclusion, public infrastructure, and was requested for restoration by the Engineering
the regulatory framework, while addressing Export Promotion Council (EEPC). The IES scheme

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both opportunities and challenges lapsed in June 2024, but MSMEs continue to benefit.
About:
 IES Scheme:

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FIRST OFFSHORE MINERAL AUCTIONS
Recent Update: India is set to launch its first offshore o Introduced in 2015, it provided subsidized

in
mineral auctions, a key step in resource management loans to exporters for both pre- and post-
as part of the National Critical Minerals Mission shipment rupee credit.

s.
e/
(NCCM), aiming to strengthen the supply chain for  EEPC India Role:
critical minerals. o Established in 1955, EEPC India has

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About Offshore Mineral Auctions contributed to the growth of Indian
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 Mineral Blocks: 10 blocks in India’s Exclusive engineering exports, increasing from USD
Economic Zone (EEZ) are up for auction, 10 million in 1955 to USD 109.32 billion in

.x
including 7 blocks of poly-metallic nodules in 2023-24.
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the Andaman Sea and 3 blocks of lime-mud  RoDTEP and IES:

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off the Gujarat coast. o The RoDTEP replaces MEIS and helps
 Critical Minerals: The blocks contain Cobalt exporters reclaim embedded taxes, while
s:

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and Nickel, essential for low-carbon IES focuses on providing interest
technologies, clean energy production, and subvention.
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steel manufacturing.
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s:
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 SOURCE: THE HINDU annually from 2024–2025.
COCOA CULTIVATION About:
Recent Update:  Definition: Ratio of public debt to GDP,
Indonesia leads cocoa production in Asia, while indicating repayment capacity.
Karnataka, Kerala, and Tamil Nadu dominate  Recommendation: NK Singh Committee
cultivation in India through intercropping with suggests 40% for the Centre and 20% for
coconut and areca nut. states.
About:  Implications:

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 Native to the Amazon Basin; grown in humid o Lower ratios indicate economic
tropics. strength.
 Thrives at 15°-39°C, with annual rainfall of

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1500-2000 mm. investments.
 Major producers: Ivory Coast, Ghana, Nigeria,

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Cameroon (70% of global cocoa). GARLIC
Grows up to 300 m above sea level in well-drained, Recent Update: India is the second-largest producer
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fertile soil (pH 5.0-7.0). of garlic, with Madhya Pradesh leading as the top-
producing state.

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About:
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 Botanically classified as a vegetable (Allium

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sativum).

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 Ideal growth conditions: 1200–2000 metres

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above sea level, well-drained fertile loamy

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soil, and a cool, moist climate.

 GI Tags: Riyawan Garlic (Madhya Pradesh),

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Kodaikanal Malai Poondu (Tamil Nadu), and

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Kanthalloor Vattavada Veluthuli (Kerala).
PALAEOGENOMICS

e/ _ AS
Recent Update: AGRICULTURAL AND PROCESSED FOOD PRODUCTS
Advanced sequencing technologies reveal the EXPORT DEVELOPMENT AUTHORITY (APEDA)

I
IA S
migration and cultural interactions of ancient human Recent Update: APEDA continues to promote India’s

X_ IA
populations. agricultural and processed food exports.

S
About: About:
 Studies ancient DNA from bones, teeth, and  Establishment: Formed under the APEDA Act
X
hair. of 1985.
/
 Focuses on genetic diversity, societal  Role: Promotes export of agricultural

X
structures, and health. products and handles GI (Geographical
 Applications: Migration studies, dietary Indication) registration.
habits, and societal evolution.  Sectors: Includes fruits, vegetables, dairy,
cereals.
CENTRALISED PENSION PAYMENT SYSTEM (CPPS)  Schemes: Market Access Initiative (MAI),
Recent Update: Trade Infrastructure for Export Scheme
Operational from January 1, 2025, under EPFO’s IT (TIES).
modernization project.
About: JUTE IN INDIA
 Enables pension through any bank Recent Update: Jute is an important cash crop for
nationwide. India, known as the Golden Fibre.
 Eliminates need for PPO transfer during About:
relocations.  Cultivation: Grown mainly in West Bengal,
Assam, and Bihar.
DEBT-TO-GDP RATIO  Varieties: Mesta, Corchorus capsularis, Tossa
Recent Update: India’s debt-to-GDP ratio for 2023– jute.
2024 stands at 58.2%, with a target to reduce by 1%

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  Production Decline: Area under cultivation FOOD ADULTERANTS
has declined, while Bangladesh's production Recent Update: Food adulteration continues to be a
has risen. serious issue in India, with substances like chalk in
 Environmental Impact: Biodegradable, milk and malachite green in vegetables raising health
enhances soil fertility. concerns.
 Export: India’s export share is 7%, Bangladesh About:
holds three-fourths of global exports.  Food adulteration involves adding harmful or
 GI Tag: Bodo Narzi (Assam) uses jute leaves substandard substances to food.

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for omega-3-rich food.  Prevention of Food Adulteration Act, 1954
defines adulteration.
 Common adulterants include chalk in milk,

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RETTING IN JUTE PROCESSING
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S
Recent Update: Retting is key to extracting jute fibres. colored leaves in tea, and malachite green in
About: fruits.

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 Process: Natural method to separate fibre
from jute plant. WHITE REVOLUTION 2.0
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 Conditions: Best in clean water at 34°C Recent Update: The Union Home and Cooperation
temperature. Minister recently launched the standard operating

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procedure (SoP) for White Revolution 2.0, aimed at
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MINIMUM SUPPORT PRICE (MSP) FOR JUTE increasing milk production, empowering women, and

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combating malnutrition.

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Recent Update: Jute Corporation of India (JCI)
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About:

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supports jute farmers through MSP procurement.
About:  Focuses on increasing milk procurement by

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 Objective: Protects farmers by stabilizing the dairy cooperatives from 660 lakh kg/day to
jute market. 1,007 lakh kg by 2028-29.

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 Price Support: Fixed by the government to  Funded by the National Programme for Dairy

t.m e X_ A
ensure fair pricing. Development (NPDD) 2.0.
 Aims to establish 200,000 multipurpose

e/ _ AS
primary agricultural cooperatives (MPACs).
JUTE PACKAGING MATERIALS ACT (JPMA) 1987

I
IA S
Recent Update: Jute packaging is mandatory for
PROMPT CORRECTIVE ACTION (PCA) FRAMEWORK

X_ IA
foodgrains and sugar.
About: Recent Update: The RBI introduced the PCA

S
 Mandates: 100% foodgrains and 20% sugar in framework for Primary Co-operative Banks (UCBs),
effective from April 1, 2025.
X
jute bags.
About:
/
 Industry Impact: Jute sacks constitute 75% of
production.  Monitors banks with weak financials, setting

X
thresholds for capital, asset quality, and
profitability.
WINDFALL TAX
 Implements restrictions on NPAs, business
Recent Update: The Indian government recently
expansions, and deposit renewals.
slashed the windfall tax on domestically produced
crude oil to 'nil' per tonne, reflecting adjustments  Excludes Payments Banks, SFBs, and Rural
based on international market conditions. Banks.
About:
 Windfall tax targets unexpected and PLAN FOR RELIABILITY IMPROVEMENT AND
dramatic profits. MAINTENANCE EFFECTIVENESS (PRIME)
 Commonly levied on oil, gas, and mining Recent Update: Indian Railways focuses on enhancing
industries. signal reliability and reducing failures.
About:
 Introduced in India in July 2022, with tax rates
reassessed every 2 weeks based on  PRIME targets improved reliability and
international crude prices. maintainability of signalling systems.
 Aimed to capture extraordinary profits and  Staff training and replacement of outdated
redistribute for public welfare. assets are key components.

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 CRITICAL MINERALS Recent Update: Central Government notified NaBFID
Recent Update: India launches a Critical Mineral as a Public Financial Institution under the Companies
Mission to boost its critical minerals sector. Act, 2013.
About: About:
 Critical minerals are essential for defence,  Infrastructure Financing: Supports long-term
aerospace, and space applications. non-recourse infrastructure funding.
 India has identified 30 critical minerals  Market Development: Focus on bond and
including Lithium, Cobalt, and Graphite. derivatives markets.

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 KABIL is exploring mineral assets in Australia,  Legislative Backing: Established under the
Argentina, and Chile. NaBFID Act, 2021.
 China’s restriction on antimony impacts

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military applications. PERPETUAL BONDS
Recent Update: India’s first additional Tier I (AT-1)

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SOURCE: PIB perpetual bond issued after rule changes to enhance
BHASKAR INITIATIVE FOR INDIA’S STARTUP appeal.
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ECOSYSTEM About:
Recent Update: DPIIT launched the Bharat Startup  Definition: Fund-raising instruments without
a maturity date; provide fixed interest for

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Knowledge Access Registry (BHASKAR) initiative
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under the Startup India program. perpetuity.

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About:  Principal Return: Through secondary market

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 Digital Registry: Aims to centralize sale or issuer redemption.

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collaboration among startups and investors.  Unique Feature: Obligation only to pay

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interest, not repay debt.

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 Innovation Focus: Strengthening the

entrepreneurial ecosystem.

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 Global Scale: Building the world’s largest AGRICULTURE INFRASTRUCTURE FUND (AIF)

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startup registry platform. Recent Update: Union Cabinet approved expansion of
the Agriculture Infrastructure Fund to make it more

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PRIORITY SECTOR LENDING (PSL) inclusive.
About:

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Recent Update: RBI released a study titled Priority
Sector Lending (PSL): The Indian Experience.  Facility: Medium- to long-term debt financing

X_ IA
About: for post-harvest infrastructure and

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community farming assets.
 Objective: Ensure vulnerable sectors have
access to credit.  Loan Details: ₹1 lakh crore loans with 3%
X
interest subvention and credit guarantee up
 Mandatory Allocation: Banks allocate a
/
to ₹2 crore.
specific percentage of credit to PSL.

X
 Goal: Promote investments in viable
 Differentiated Targets: Varying targets for
agricultural projects.
different types of banks.

SPICED SCHEME
UNIFIED LENDING INTERFACE (ULI)
Recent Update: Union Ministry of Commerce and
Recent Update: ULI platform introduced to enable
Industry approved the SPICED Scheme for the spice
seamless and consent-based credit delivery.
sector.
About:
About:
 Data Integration: Includes land records for
 Objective: Expand cardamom cultivation,
transparent credit flow.
improve productivity, and promote exports.
 Efficiency: Reduces documentation and
 Key Components: Post-harvest quality
accelerates loan disbursements.
upgrades, market expansion, trade
 Focus Areas: Addresses credit gaps in promotion, technology adoption, and skill
agriculture and MSME sectors. development.
 Implementation Period: 2023-24 to 2025-26
NATIONAL BANK FOR FINANCING INFRASTRUCTURE under the 15th Finance Commission.
AND DEVELOPMENT (NABFID) About Cardamom:

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  Small Cardamom: Grown in the Western  Global & National Initiatives: Support for the
Ghats (Kerala, Karnataka, Tamil Nadu). repair movement through policy and
 Ideal Conditions: Loamy acidic soil, 600–1500 regulations.
m elevation, and good drainage.  Challenges: Implementing standards and
encouraging manufacturers to design for
DELHI DECLARATION ON CIVIL AVIATION repairability.
Recent Update: 2nd Asia Pacific Ministerial
Conference on Civil Aviation (APMC) concluded with VISIONXT INITIATIVE: FASHION FORECASTING

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unanimous adoption of the Delhi Declaration. Recent Update:
About: The VisioNxt Fashion Forecasting Initiative was
 Key Commitments: launched by the National Institute of Fashion

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o Implement State Safety Programme
and Asia/Pacific Seamless Air About:

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 Launched in 2018, VisioNxt focuses on trend
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Navigation Service Plan.
o Ensure aviation safety and security insights for the Indian fashion sector.
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under the Global Aviation Security  It integrates AI and Emotional Intelligence to
Plan. forecast fashion trends.
 The initiative identifies and maps regional

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 Civil Aviation in India:
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o India is the 3rd largest aviation fashion trends reflecting India’s socio-

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market with over 800 aircraft and 157 economic diversity.

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airports.

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o Gender Equality: 15% of Indian pilots SOURCE: VISION MONTHLY

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are women (global average: 5%). REGIONAL DISPARITY IN DEVELOPMENT

o Notable Schemes: UDAN (Regional Recent Updates: A working paper, "Relative Economic

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Connectivity), Digi Yatra, and Performance of Indian States: 1960-61 to 2023-24" by

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Greenfield Airports Policy. the Economic Advisory Council to the Prime Minister
(EAC-PM), highlights uneven growth across Indian

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TECHNICAL TEXTILES: GROWING INDUSTRY states. About:
Recent Update:  Historical Factors: British policies favored

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The Union Minister for Textiles stated that technical resource-rich regions like Kolkata, Mumbai,

X_ IA
textiles exports will exceed $10 billion by 2030. and Chennai, creating persistent imbalances.

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About:  Geographical Constraints: Difficult terrain
 Technical Textiles are designed for functional (e.g., North-Eastern states) increases costs;
X
properties, not just aesthetic purposes. adverse climates (e.g., frequent floods in
/
Bihar, Assam) slow development.
 Key areas include automotive, medical,
 Economic Challenges:

X
geotextiles, agrotextiles, and protective
clothing. o Sectoral Dependence: Manufacturing
 Example products: bulletproof vests, and services drive income growth,
firefighter clothing, and spacesuits. while agriculture-dependent states
lag.
o Infrastructure Deficit: Poor transport
ADVANCEMENTS IN CONSUMER RIGHTS FOR
and banking systems limit growth.
ELECTRONICS
 Governance Issues:
Recent Update:
The Right to Repair Framework workshop introduced o Political Instability discourages
a Repairability Index for mobile and electronic investment.
products. o Planning Failures: Lack of essential
About: resources like power and skilled labor
 Repairability Index: A tool to help consumers deters industrial growth.
assess the ease of repair for electronic
products. MIDDLE-INCOME TRAP
 Right to Repair: Encourages sustainability by Recent Updates: The World Development Report 2024
promoting easy repairs and reducing e-waste. by the World Bank warns of India’s risk of falling into
the Middle-Income Trap. About:
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  Middle-Income Countries (MIC): Defined by  Connectivity: Robust multi-modal transport
per capita GNI of US$1,135 to US$13,846 systems in collaboration with state
(India ~$2,500). governments.
o Lower MIC: US$1,136–4,465.  Coverage: Currently overseeing 11 industrial
o Upper MIC: US$4,466–13,845. corridors.
 Middle-Income Trap: Economies stagnate at
middle-income levels, failing to transition to VADHVAN PORT
high-income status. Recent Updates: Prime Minister Narendra Modi laid

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 Key Trends: the foundation for Vadhvan Port in Maharashtra's
o Aging populations, rising debt. Palghar district. About:
 Location: Near Dahanu town in Palghar,

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o Geopolitical frictions and
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environmental challenges hinder Maharashtra.
progress.  Significance:

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o 13th Major Port in India.
10 YEARS OF PMJDY AND FINANCIAL INCLUSION o Largest container port with deep-
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Recent Updates: India celebrated the 10th water facilities for large vessels.
anniversary of Pradhan Mantri Jan Dhan Yojana  Execution:

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(PMJDY), promoting Financial Inclusion. About:
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o Constructed by Vadhavan Port

 Definition: Financial inclusion ensures access Project Limited (VPPL).

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to affordable financial products and services, o Stakeholders: JNPA (74%) and
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such as savings, credit, and insurance.

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Maharashtra Maritime Board (26%).
 Objective: Extend financial services to

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underserved populations for unlocking

growth potential.

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50 YEARS OF THE INDIAN MICROFINANCE SECTOR

e/ _ AS
Recent Updates: Marking 50 years since the Self-
Employed Women’s Association (SEWA) Bank
became India’s first Microfinance Institution in 1974.

I
IA S
About:

X_ IA
 Services: Small-value loans, savings accounts,

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micro-insurance for marginalized individuals.
 Evolution: Nobel Laureate Muhammad
X
PM E-DRIVE SCHEME
Yunus’ Grameen Bank (1976) laid the
/
Recent Updates: Ministry of Heavy Industries notified
foundation of modern MFIs.
the PM Electric Drive Revolution in Innovative

X
 Governance: Vehicle Enhancement (PM E-DRIVE) scheme. About:
o Regulated by RBI.  Objective: Boost EV adoption by providing
o Recommendations by Malegam incentives and establishing charging
Committee (2010) to regulate NBFC- infrastructure.
MFIs.  Fund Allocation: ₹10,900 crore (2024-26).
 Targets:
NATIONAL INDUSTRIAL CORRIDOR DEVELOPMENT o Support for e-2Ws, e-3Ws, and e-
PROGRAMME buses.
Recent Updates: The Union Cabinet approved 12 new o Installation of over 72,000 fast
industrial nodes under the National Industrial chargers.
Corridor Development Programme (NICDP). About:
 Implementation:
 Launch: Began with Delhi-Mumbai Industrial
o Overseen by Ministry of Heavy
Corridor (DMIC) in 2007.
Industries and monitored by PISC
 Objective: Establish smart industrial cities Committee.
with integrated next-gen technologies and
systematic urbanization.

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 VOLUNTARY VEHICLE MODERNIZATION PROGRAM  Dairy Infrastructure: Financial assistance
Recent Update: Union Ministry of Road Transport under NPDD 2.0 for procurement systems and
and Highways launched the Vehicle Scrapping Policy quality assurance.
to promote a circular economy in the automotive
sector. FINANCIALISATION
About: Recent Update: Chief Economic Advisor expressed
 Circular Economy: Aims to reduce raw concerns over excessive financialisation in India.
material consumption and encourage About:
recycling.

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 Economic Influence: Increased dominance of
 Scrappage Certificate: Provided to owners of financial markets and technologies.
unfit vehicles to avail discounts on new  Rising Inequality: Concentration of financial

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purchases.

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gains among the top 1%.
 Incentives: Discounts of up to 3% for  Household Debts: Increased reliance on loans

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commercial vehicles and 1.5% for passenger
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due to stagnant wages.
vehicles on ex-showroom prices.
ht tps :// t.m

ht tps :// t.m e/ X_ IAS

AVERAGE HOUSEHOLD SPENDING ON FOOD
MINERALS SECURITY PARTNERSHIP FINANCE
Recent Update: EAC-PM reported a significant decline
NETWORK

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in household spending on food since 1947.
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Recent Update: India joined the US-led Minerals About:

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Security Partnership (MSP) Finance Network to
 Regional Variations: Spending increases differ

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ensure sustainable critical mineral supply chains.

across states.

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About:
 Dietary Shift: From cereals to fruits, milk, and

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 Global Collaboration: Joint financing body for

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processed foods.
critical mineral projects worldwide.
 Policy Implications: Need for focus on diverse
 Objectives: Strengthen Indo-Pacific and

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food production and addressing
European cooperation for sustainable supply

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micronutrient deficiencies.
chains.

e/ _ AS
 Critical Minerals: Includes lithium, cobalt,
nickel, and rare earth elements crucial for SOURCE: INSIGHTS MONTHLY

I
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modern technologies. VIABILITY OF UNIVERSAL BASIC INCOME (UBI) IN
INDIA

X_ IA
Recent Update:

S
STEEL SECTOR IN INDIA
The concept of Universal Basic Income (UBI) is gaining
Recent Update: Government set a target to achieve
attention as automation and AI reduce job growth,
X
500 million tonnes of steel production by 2034.
sparking debates about its potential benefits in India.
/
About:
About:
 Strategic Resource: Steel plays a pivotal role

X
 UBI is a social welfare scheme providing fixed,
in industrialization and infrastructure
unconditional cash transfers to all citizens,
growth.
regardless of income.
 Raw Materials: Availability of iron ore and
 It aims to address rising inequality and
cost-effective labor.
demand issues in the economy.
 Location Factors: Proximity to resources,
 Critics suggest India should focus on
markets, and transportation infrastructure.
expanding social safety nets instead of
adopting full UBI.
INDIA’S DAIRY COOPERATIVE SECTOR  Current Chief Economic Advisor (CEA), V
Recent Update: Ministry of Cooperation launched Anantha Nageswaran, has dismissed UBI as
SOPs for ‘White Revolution 2.0’ to transform the unnecessary.
dairy sector.
About:
US FED CUT INTEREST RATES AND ITS IMPACT ON
 Milk Procurement: Target to increase INDIA
procurement by 50% over five years.
Recent Update:
 Women Empowerment: Focus on self- The US Federal Reserve cut interest rates by 50 basis
reliance and combating malnutrition. points to stimulate the economy, potentially affecting

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 global economies, including India. of ₹2,817 crore.
About: About:
 The US Federal Reserve is the central banking  Digital Agriculture uses technologies like AI,
system of the United States, responsible for big data, and drones to enhance farm
monetary policy and regulating financial management and increase productivity.
institutions.  The Digital Agriculture Mission seeks to
 Interest rate cuts encourage borrowing and integrate data analytics and geospatial tools
spending, boosting economic activity. for better decision-making in farming.

ht tps :// t.m e/ X_ IAS

 Lower interest rates can have global spillover  It aims to improve resource management,
effects, impacting India’s financial markets crop estimation, and overall farm
and borrowing costs. productivity.

ht tps :// t.m e/ X_ IAS

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S
CHINA SHOCK 2.0 GOVERNMENT PROMOTING NANO-FERTILIZER

ht tps :// t.m e/ X_ IAS

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Recent Update: Recent Update:
The US has imposed tariffs on Chinese imports, The Government of India promotes nano DAP as a
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including a 100% duty on electric vehicles, initiating cost-effective alternative to traditional fertilizers,
“China Shock 2.0,” while India takes steps to curb especially in Punjab’s Rabi season.
Chinese imports. About:

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About:  Nano DAP is more affordable and

A
 China Shock 2.0 refers to China’s export transportable, costing significantly less than

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growth in high-tech sectors amid its domestic granular DAP.

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economic slowdown.

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 The global response includes protectionist

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measures by countries like India to safeguard

domestic industries.

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 The economic slowdown in China stems from

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a property crisis and weak consumer

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demand, affecting global supply chains.

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PLFS REPORT, 2023-24

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Recent Update:

S
The National Statistical Office (NSO) released the
Periodic Labour Force Survey (PLFS) for 2023-24,
X
providing insights into employment trends in India.
/
About:
 Unemployment rate remains stable at 3.2%,

X
 Nano-fertilizers use nanotechnology for
marking the first time no year-on-year decline improved nutrient delivery to plants,
has been observed since 2017-18. enhancing absorption and reducing
 Labour Force Participation Rate (LFPR) rose environmental impact.
to 60.1%, with rural areas seeing significant  Despite concerns from Punjab Agricultural
growth. University (PAU) about wheat yield reduction,
 Self-employment continues to rise, reaching IFFCO recommends combining nano DAP with
58.4%. conventional fertilizers for optimal results.
 Gender disparities persist, with female
unemployment increasing slightly. ‘NAVRATNA’ STATUS TO STATE-OWNED COMPANIES
Recent Update: The Indian government granted
CABINET GREENLIGHTS DIGITAL AGRICULTURE ‘Navratna’ status to SJVN, NHPC, RailTel Corporation
MISSION of India, and Solar Energy Corporation of India (SECI).
Recent Update: About:
The Union Cabinet approved the Digital Agriculture  Navratna Status enhances these companies'
Mission, aiming to develop Digital Public financial and operational autonomy, allowing
Infrastructure (DPI) for agriculture with an investment greater decision-making freedom.

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  This will likely boost market performance, certain sellers, resulting in unfair market advantages.
promote faster growth, and expand their Findings:
scope of operations.  Preferred Sellers: Select sellers received
 Total Navratna CPSEs now stands at 25. preferential treatment, including marketing
and warehousing services.
GROSS FIXED CAPITAL FORMATION (GFCF)  Exclusive Partnerships: Both companies had
Recent Update: The World Bank projected a decline exclusive product launches, hurting smaller
in GFCF for India’s economy in FY25. However, GDP retailers.

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growth has been revised to 7% from 6.6%.  Deep Discounting: Allowed affiliated sellers to
About: offer deep discounts, undermining
 GFCF: The total value of investments in fixed competition.

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ht tps :// t.m e/ X_

S
assets like infrastructure and machinery.
 World Bank Outlook: T+0 SETTLEMENT

ht tps :// t.m e/ X_ IAS

ht tps :// t.m e/
o Urban youth unemployment remains Recent Update: Stock exchanges have delayed the
high at 17%. implementation of T+0 (same-day) settlement for
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o Agricultural growth is expected to institutional clients, which was set to start in
rise, while industrial growth will slow. September 2024.
About:

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o Risks include global trade
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protectionism affecting trade-focused  T+0: Same-day settlement, with both funds

A
investments. and securities exchanged on the same day.

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 T+1: Settles trades one business day after the

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transaction date.
FOREIGN VENTURE INVESTORS

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 Challenges: Foreign Portfolio Investors (FPIs)

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Recent Update: SEBI has updated its rules for the

have resisted T+0 due to pre-funding
registration and eligibility of Foreign Venture Capital
requirements.

S
Investors (FVCIs).

t.m e X_ A
Key Updates:
PRODUCTION LINKED INCENTIVE (PLI)

e/ _ AS
 FVCIs now required to hold investments in
demat form starting January 1, 2025. Recent Update: India’s PLI scheme is set to boost the
 Resident Indians (RIs), Non-Resident Indians textile sector with disbursements beginning this fiscal

I
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(NRIs), and Overseas Citizens of India (OCI) year.

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can contribute, with certain limitations. About:

S
 Domestic custodian required for monitoring  Objective: Address stagnation in textile
and reporting to SEBI. exports, enhance competitiveness, and create
X
jobs.
/
 PLI Mechanism: Provides performance-linked
NIDHI COMPANIES

X
incentives for domestic manufacturing.
Recent Update: The Ministry of Corporate Affairs
 Budget: ₹1.97 lakh crore ($28 billion) for 13
(MCA) has penalized Nidhi companies for violating
sectors, including electronics, textiles, and
the Companies Act, especially for issues like delayed
automotive.
financial filings and share allotment issues.
About:
 Nidhi companies primarily deal with GLOBAL INNOVATION INDEX (GII)
borrowing and lending money among their Recent Update: India has climbed 42 positions in the
members. Global Innovation Index (GII), ranking 39th out of 133
 Governed by Section 406 of the Companies economies in 2024.
Act, 2013, these companies aim to promote About:
savings and financial inclusion.  India’s Rank: Improved from 40th in 2023 to
 Recent violations: Mostly in Tamil Nadu, for 39th in 2024.
non-compliance with filing regulations.  Key Strengths:
o ICT services exports (1st globally).
ANTITRUST INVESTIGATIONS o Start-up ecosystem and venture
Recent Update: Investigations reveal that Amazon capital.
and Flipkart violated competition laws by favoring o Unicorns (Ranked 8th globally).
 Challenges:
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 o Need for higher R&D spending and  Diverse diets reflect changes in consumption
innovation in manufacturing. patterns, especially among the poorest
o Gaps in innovation infrastructure. households.

PARYATAN MITRA & PARYATAN DIDI DIFFERENTIAL BENEFITS OF RURAL ELECTRIFICATION

Recent Update: Launched on World Tourism Day Recent Update: A study analysed the impact of the
(September 27, 2024), this initiative aims to empower RGGVY (now DDUGJY) programme, which electrified
locals as tourism ambassadors. over 400,000 villages across India.

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About: About:
 Target: Promote social inclusion, job  DDUGJY aims to provide 24x7 electricity to
rural areas, ensuring energy access for all.

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creation, and enhanced tourist experiences in
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S
key destinations.  Focus on efficient electricity distribution and
 Features: microgrids for remote areas.

ht tps :// t.m e/ X_ IAS

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o Training in hospitality, safety, and  Rural Electrification Corporation (REC) is the
digital literacy. nodal agency for implementing the scheme.
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o Focus on women and youth for
tourism-related activities like heritage CONCERNS IN ASSET RECONSTRUCTION COMPANIES

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walks and food tours. (ARCs)
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o Badges for recognized ambassadors Recent Update: ARCs face a slowdown in growth as

A
ensuring quality experiences. NPAs reached a 12-year low in March 2024, affecting

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their business.

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SOURCE: DRISHTI MONNTHLY About:

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 Declining corporate NPAs limit the business
ht

GOVERNMENT APPROVED 12 NEW INDUSTRIAL

SMART CITIES potential of ARCs, pushing them to focus on

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smaller, less profitable loans.
Recent Update: The Union Cabinet approved the

t.m e X_ A
establishment of 12 industrial smart cities across 6  The RBI has raised the minimum net owned
funds requirement for ARCs, imposing

e/ _ AS
industrial corridors in 10 states.
About: constraints on their capital usage.
 Industrial Smart Cities integrate advanced  Mergers or exits are anticipated due to these

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technologies and data analytics to boost challenges.

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industrial efficiency and sustainable

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development. INDIA PLANS USD 15 BILLION FOR CHIPMAKING
 Aim to attract foreign investment, enhance Recent Update: India will invest USD 15 billion in the
X
domestic manufacturing, and create second phase of the India Semiconductor Mission for
/
employment. chip manufacturing.

X
 Objective: Strengthen India's position in About:
global value chains with ready-to-allot land.  Investment will support assembly, testing,
marking, and packaging (ATMP) plants.
CHANGING FOOD CONSUMPTION PATTERNS IN  Semiconductor chips are key to electronic
INDIA circuits, with billions of micro-switches
Recent Update: A report by the Economic Advisory controlling electricity flow.
Council revealed that India's average household  Fabrication technology involves processes like
expenditure on food has dropped to less than half for wafer preparation, photolithography, and
the first time since 1947. etching to create chips.
About:
 Household food expenditure has declined in INDIA BECOMES NET IMPORTER OF MAIZE
both rural and urban areas across all states Recent Update: Due to a shift towards ethanol
and UTs. production from maize, India has transformed from
 Significant drop in spending on cereals, Asia's top maize exporter to a net importer.
leading to increased spending on milk, fruits, About:
eggs, fish, and meat.  Maize (Zea mays L.) is a highly versatile crop,
often referred to as the queen of cereals due
to its genetic yield potential.
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  It is India’s third most important food crop,
contributing around 9% to the national food
basket.
 Growing conditions include well-drained soils,
with optimal rainfall between 50-100 cm.
 Seasonal cultivation of maize in India occurs
in Kharif, Rabi, and Spring seasons, with
Kharif maize facing lower productivity.

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CENTRAL TRADE UNIONS (CTUs) DEMAND FOR
LABOUR WELFARE

ht tps :// t.m e/ X_ IAS

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S
Recent Update: The Union government held
discussions with Central Trade Unions (CTUs) about

ht tps :// t.m e/ X_ IAS

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implementing the four Labour Codes and addressing
key demands.
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About:
 The Indian Labour Conference (ILC) is a
tripartite committee comprising workers,

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employers, and government representatives,

7 NEW SCHEMES TO BOOST FARMER INCOME

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advising on workers' issues.

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Recent Update: The Union Cabinet announced seven
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 The ILC's first meeting was held in 1942, and it

new schemes with an outlay of nearly Rs 14,000 crore

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continues to be a crucial forum for labour
to enhance farmer income.

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welfare discussions.

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About:
 Key schemes include the Digital Agriculture
EVOLVING HOUSEHOLD SAVINGS IN INDIA

S
Mission (DAM), which focuses on Agri Stack
Recent Update: The RBI Deputy Governor noted that

t.m e X_ A
and Krishi Decision Support System.
Indian households are rebuilding financial savings  AgriStack will provide farmers with a unique

e/ _ AS
post-pandemic, impacting the broader economy. digital ID to access services across the
About: agriculture value chain, linked to Aadhaar.

I
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 Household savings consist of net financial  Krishi Decision Support System integrates

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savings and physical savings, with a growing geospatial and non-geospatial data to assist
trend towards investing in riskier financial

S
farmers in decision-making.
assets like stocks.
X
 During the pandemic, households saved
MAKE IN INDIA CELEBRATES 10 YEARS
/
more, resulting in a high financial savings rate
of Rs 23.3 lakh crore in 2020-21. Recent Update:

X
The ‘Make in India’ initiative, launched on 25th
September 2014, completes a decade of empowering
INITIATIVES FOR PRESERVATION OF INDIGENOUS India to become a global manufacturing hub.
CATTLE BREEDS About:
Recent Update: The National Institute of Animal  Objectives:
Biotechnology (NIAB) is leading efforts to preserve
o Increase manufacturing sector
indigenous cattle breeds and improve animal health.
growth to 12-14% per annum.
About:
o Create 100 million manufacturing
 NIAB, under the Department of
jobs by 2025.
Biotechnology, focuses on animal genetics,
transgenic technologies, and sustainable o Raise manufacturing sector’s
livestock development. contribution to GDP to 25% by 2025.
 Their mission is to foster a globally  Pillars:
competitive livestock industry through o New Processes: Focused on ease of
innovative technologies. doing business and innovation.
o New Infrastructure: Priority on
industrial corridors and smart cities
to enhance infrastructure.

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 STATE OF SUGAR INDUSTRY IN INDIA saved 75 million tonnes of food from
Recent Update: landfills.
The sugar sector in India is recovering after a period  Alignment with UN Goals: FRAME supports
of uncertainty, with positive production estimates for the UN’s Target 12.3 to halve global food
the current and upcoming seasons. waste by 2030.
About: TRANSFORMING FISHERIES SECTOR
 Production and Consumption: Recent Update:
o The Indian Sugar Mills Association The Ministry of Fisheries, Animal Husbandry &

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(ISMA) estimates 34 million MT of Dairying has launched several initiatives to transform
sugar production for the 2024 season. the fisheries sector and strengthen India's blue
o India remains the largest sugar economy under the Pradhan Mantri Matsya

ht tps :// t.m e/ X_ IAS

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consumer and the second-largest Sampada Yojna (PMMSY).

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producer globally, contributing 19% About:

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of world sugar production.  New Initiatives:
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o National Fisheries Development Program

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INDIA’S PROPOSED SHIPBUILDING MISSION (NFDP) Portal: Central hub for fisheries
Recent Update: stakeholders.
The Minister for Ports, Shipping, and Waterways is o PM-MKSSY Guidelines: Structured

ht tps :// t.m e/ X_ IAS

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preparing a Shipbuilding Mission aimed at creating a approach to implementing the PM-Matsya

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robust global shipbuilding industry by 2047, under the Kisan Samridhi Sah-Yojana (PM-MKSSY).

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Make in India initiative. o Rangeen Machhli App: Knowledge resource

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About: for the ornamental fisheries sector.

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 Global Market Position: India aims to position o Amrit Catla: Genetically improved Catla fish

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itself as a top shipbuilding hub with less than variety.

1% of global market share currently. o Climate Resilient Coastal Fishermen

S
 Key Features: Villages (CRCFVs): Guidelines to develop

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o Establish mega shipbuilding parks 100 coastal villages into CRCFVs.

e/ _ AS
along India's coasts in Maharashtra,
Kerala, Andhra Pradesh, Odisha, and

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IA S
Gujarat.

X_ IA
o Areas identified for action: financing,
insurance, ship repair, technical

S
management, etc.
X
o South Korea and Japan are invited to
/
explore foreign investment
opportunities.

X
FOOD BANKS IN GHG REDUCTION
Recent Update:
Food banks have been found to significantly
contribute to climate change mitigation by reducing
greenhouse gas (GHG) emissions, according to the
Food Recovery to Avoid Methane Emissions (FRAME)
methodology.
About:
 Global Impact:
o Each food bank prevents emissions
equivalent to taking 900 gasoline-
powered cars off the road for a year.
o In 2019, food banks avoided over 12
million tonnes of CO2 emissions and

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 SOURCE: THE HINDU NATIONAL STATISTICAL OFFICE (NSO)
INDEX OF INDUSTRIAL PRODUCTION (IIP) Recent Update: The NSO was formed in 2019 by
Recent Update: Index of Industrial Production (IIP) is merging the National Sample Survey Office (NSSO)
computed and published monthly by the National and Central Statistics Office (CSO).
Statistical Office (NSO), Ministry of Statistics and About:
Programme Implementation (MoSPI).  Functions under the Ministry of Statistics and

w .x ia .in /c u se s
About: Programme Implementation (MoSPI).

e
 IIP indicates the relative change in physical  Responsible for providing statistical

//w w . ia .i /c u s
w ia s. / ou rs s
production in industries over a specific year information services for policy, planning, and

s: /w w .x as .in /co ur
compared to the previous year. decision-making.

ia .in /c u se s
 Base year for the IIP series is 2011-12.

tp :/ ww w xi s in co
 Mandated under the Statistical Services Act,

r
.x s in co r e
 Includes sectors like mining, manufacturing, 1980.

s. / ou rs s
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and electricity, excluding construction, gas,
and water supply due to data constraints.
INTERNATIONAL COFFEE DAY

/c u se s
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 8 Core Sectors comprise 40.27% of the weight

in co r e
of items included in the IIP. Recent Update: Annually celebrated on October 1,
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with the 2024 theme: "Coffee, Your Daily Ritual, Our

ou rs s
Shared Journey".
EIGHT CORE INDUSTRIES About:
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rs es
Recent Update: The Index of Core Industries (ICI),  Organized by the International Coffee
n
measuring the progress of eight key industries, is Organisation (ICO).
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es
released monthly by the Office of the Economic  ICO, established in 1963 under the UN,
Adviser, Ministry of Commerce & Industry. promotes the sustainable expansion of the
About:
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global coffee sector.

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 The 8 Core Industries are coal, crude oil,  Member States: 77 (India is an exporting
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natural gas, refinery products, fertilisers, member).

steel, cement, and electricity.
 Current weightage (descending order):
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Petroleum Refinery Products (28.04%) > MINIMUM IMPORT PRICE (MIP)

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Electricity (19.85%) > Steel (17.92%) > Coal Recent Update: Government extended MIP for the
(10.33%) > Crude Oil (8.98%) > Natural Gas textile sector till December 31, 2024.
(6.88%) > Cement (5.37%) > Fertiliser About:
(2.63%).
w

 Temporary measure to protect domestic

 Base year for ICI is 2011-12, aligned with IIP’s farmers from predatory pricing of imports.
base year.
 Enforced by the Directorate General of
 ICI for a reference month is released with a Foreign Trade (DGFT) under the Ministry of
time lag of one month. Commerce.

FOOD SAFETY AND STANDARDS AUTHORITY OF

INDIA (FSSAI)
Recent Update: Released the State Food Safety Index
(SFSI) to assess the performance of states in ensuring
food safety.
About:
 Established under the Food Safety and
Standards Act, 2006.

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  Consolidated various earlier regulations like deficiency.
the Prevention of Food Adulteration Act, About:
1954.  Rice fortification involves adding kernels
 Functions under the Ministry of Health & enriched with micronutrients (iron, folic acid,
Family Welfare. Vitamin B12) to regular rice.
 Key initiatives include Eat Right India, RUCO,  Methods: Coating, Dusting, Extrusion.
and 100 Food Streets.  Ratio: 10 g of fortified rice kernels (FRK)

w .x ia .in /c u se s
 FSSAI license or registration is mandatory for blended with 1 kg of regular rice.

e
all food-related businesses.  Standards prescribed by FSSAI: 1 kg of

//w w . ia .i /c u s
w ia s. / ou rs s
fortified rice contains Iron (28-42.5 mg), Folic

s: /w w .x as .in /co ur
PRADHAN MANTRI RASHTRIYA KRISHI VIKAS YOJANA acid (75-125 mg), and Vitamin B12 (0.75-1.25

ia .in /c u se s
mg).

tp :/ ww w xi s in co
(PM-RKVY)

r
.x s in co r e
Recent Update: Union Cabinet merged agriculture  Used in schemes like TPDS, ICDS, and PM

s. / ou rs s
ht tps :// ww w. xia s. in/
sector schemes under PM-RKVY and Krishonnati POSHAN.
Yojana.  A Central Sector initiative, fully funded by the

/c u se s
ht tps :// ww w. xia s.
About: government under PMGKAY.

in co r e
 Launched in 2007-08 as a centrally sponsored  Rice is ideal for fortification as it is consumed
ht tps :// ww w. xia

ou rs s
scheme to promote comprehensive by 65% of the population.
agricultural development.
ht tps :// ww w.

rs es
 Transformed into RKVY-RAFTAAR in 2017-18, INTEGRATED CHILD DEVELOPMENT SERVICES (ICDS)
n
focusing on pre and post-harvest
ht tps :// ww

Recent Update: Continuously implemented since

es
infrastructure.
1975 to improve child nutrition and development.
 Includes schemes like Soil Health About:
Management, Rainfed Area Development,
ht tps ://

 Centrally Sponsored Scheme launched in

s

and Per Drop More Crop.

1975.
ht tps

 Nodal Ministry: Ministry of Agriculture &

Farmers Welfare.  Aims to improve the nutritional and health
status of children (0-6 years).
ht

 Reduces mortality, morbidity, and

x

ENERGY EFFICIENCY HUB (EEH) malnutrition.

Recent Update: India joined the Energy Efficiency  Empowers adolescent girls.
Hub in 2024.
About:  Services include supplementary nutrition,
w

immunization, health check-ups, referral

 Established in 2020 as the successor to the services, preschool education, and nutrition
International Partnership for Energy awareness.
Efficiency Cooperation (IPEEC).
 Voluntary collaboration of governments,
international organisations, and private TARGETED PUBLIC DISTRIBUTION SYSTEM (TPDS)
entities. Recent Update: Continued provision of subsidized
 Hosted by the International Energy Agency food grains under the Public Distribution System.
(IEA). About:

 In India, implemented by the Bureau of  Launched in 1997 for food security targeting
Energy Efficiency (BEE) under the Ministry of BPL families.
Power.  Provides wheat (Rs. 2/kg), rice (Rs. 3/kg), and
millets (Rs. 1/kg).
RICE FORTIFICATION  AAY component offers 35 kg of grains to
beneficiaries at subsidized rates.
Recent Update:Union Cabinet extended universal
fortified rice supply in government schemes until  Jointly managed by the Centre and State/UT
2028 to address anaemia and micronutrient governments.

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 UDE DESH KA AAM NAAGRIK (UDAN)
MONETARY POLICY COMMITTEE (MPC) Recent Context: The Indian Government has
Recent Update: Regularly meets to decide policy extended the UDAN scheme for another 10 years.
rates to achieve inflation targets. About UDAN
About:  Nodal Agency: Ministry of Civil Aviation.
 Constituted in 2016 under Section 45ZB of  Objective: Enhance regional air connectivity,
RBI Act, 1934. especially in unserved and under-served

w .x ia .in /c u se s
 airports.

e
Determines policy rates to maintain price
stability and inflation targeting.  Scope: Aimed at affordable air travel for

//w w . ia .i /c u s
w ia s. / ou rs s
common people in small towns.

s: /w w .x as .in /co ur
 Meets at least four times annually;
resolutions are published post-meeting.  Operational: Bidding rounds for expanding

ia .in /c u se s
tp :/ ww w xi s in co
routes and destinations.

r


.x s in co r e
Inflation targeting: CPI within 4% (+/- 2%).

s. / ou rs s
 Monetary policy stances: Hawkish, Neutral,
ht tps :// ww w. xia s. in/
Accommodative, Contractionary, and SAMAJIK ADHIKARITA SHIVIR
Calibrated Tightening.

/c u se s
Recent Context: A SamajikAdhikaritaShivir was
ht tps :// ww w. xia s.

in co r e
recently organized at 75 locations across India for the
ht tps :// ww w. xia

distribution of assistive devices to Divyangjan

ou rs s
INDUSTRIAL RELATIONS CODE 2020
beneficiaries under the ADIP Scheme.
Recent Update: Simplified labor laws by merging About SamajikAdhikaritaShivir
ht tps :// ww w.

rs es
three key acts.
 Launched: 1981 by the Ministry of Social
n
About:
Justice and Empowerment.
ht tps :// ww

es
 Merged Industrial Disputes Act, Industrial
Employment Act, and Trade Unions Act.  Purpose: Distribute assistive devices to
people with disabilities and senior citizens.
 Introduced fixed-term employment (FTE)
ht tps ://

 Partnerships: In collaboration with ALIMCO

s

with equal benefits for workers.

and District Administrations.
ht tps

 Raised mandatory standing orders threshold

to 300 employees.  Updated: Last revised in April 2024.

 Established Re-skilling Fund and Social

ht

Security Fund for workers. FCI GRIEVANCE REDRESSAL SYSTEM

 Promoted ease of business with relaxed Recent Context: The Union Minister launched the
layoff norms. Mobile App for the FCI Grievance Redressal System to
 Women permitted to work night shifts with support Rice Millers.
w

security provisions. About FCI Grievance Redressal System

 Objective: Streamline issue resolution for rice
millers with FCI using technology.
SOURCE: PIB
MLALAD FUND  Features: App enables direct reporting,
tracking, and feedback from FCI.
Recent Context: The Delhi cabinet recently approved
a 50% hike in MLA-LAD funds, increasing allocations  Impact: Aimed at improving accountability
from ₹10 crore to ₹15 crore. and responsiveness of FCI.
About MLALAD Fund
 Purpose: Empower MLAs to recommend local MINIMUM SUPPORT PRICE (MSP)
development works (e.g., roads, community Recent Context: The Union government announced
centers). increased MSP for six rabi crops for the 2025-26
 Allocation: Funds are for durable marketing season, including ₹2,425 per quintal for
infrastructure, completed within a fiscal year. wheat.
 Rule: Works must fulfilllocal needs and create About MSP
long-lasting assets.

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  Definition: A government guarantee price for  Collaborates with WFP and IFAD for rural
crops, ensuring farmers are protected from development and hunger eradication.
price fluctuations.
 CACP: Recommends MSP for 23 crops after WORLD FOOD PROGRAMME (WFP)
considering factors like cost of cultivation,
market trends, and supply-demand balance. Recent Update: WFP awarded the Nobel Peace Prize
2020 for its efforts to combat hunger.
 Purpose: Ensures guaranteed income for About:

w .x ia .in /c u se s
farmers and promotes higher productivity in


e
agriculture. Founded: 1961 by FAO and UNGA.

//w w . ia .i /c u s
w ia s. / ou rs s
 Focus: World's largest humanitarian

s: /w w .x as .in /co ur
organization addressing hunger and food
SOURCE: INDIAN EXPRESS security.

ia .in /c u se s
WORLD TELECOMMUNICATION STANDARDIZATION

tp :/ ww w xi s in co
r


.x s in co r e
ASSEMBLY (WTSA) Objective: Ending hunger, improving
nutrition, supporting SDGs, and fostering

s. / ou rs s
ht tps :// ww w. xia s. in/
Recent Update: Hosted for the first time in India in partnerships.
2024.
 Funding: Entirely through voluntary

/c u se s
About:
ht tps :// ww w. xia s.

o
donations.

in co r e
 Governing conference of ITU, held every four
ht tps :// ww w. xia

 Key Report: Global Report on Food Crisis.

ou rs s
years.
 Focuses on standards for technologies like 6G,  Headquarters: Rome, Italy.
ht tps :// ww w.

rs es
AI, IoT, Big Data, and cybersecurity.  India Operations: Since 1963.
n
 Inaugurated by the Prime Minister in New
ht tps :// ww

es
Delhi.
NATIONAL MISSION FOR NATURAL FARMING
(NMNF)
ht tps ://

WELTHUNGERHILFE Recent Update: NMNF launched in 2023-24 to cover

s

Recent Update:GHI 2024 ranked India 105th out of 7.5 lakh hectares and benefit one crore farmers by
ht tps

127 countries with a "serious" score of 27.3. 2025.

About: About:
 Upgraded: From Bhartiya Prakratik Krishi
ht

 Measures hunger based on

x

undernourishment, child stunting, child Paddhati (BPKP).

wasting, and mortality.  Goal: Promote chemical-free farming and
 Data sourced from UNICEF, WHO, World natural practices.
Bank, and FAO.  Incentives: ₹15,000/ha/year for input
w

 GHI considers India's Sample Registration infrastructure over 3 years.

System for statistical reports.  Coverage: 15,000 clusters for natural farming.
 Highlights high child wasting and stunting  Nodal Agency: National Centre for Organic
levels in India. Farming (NCOF).

FOOD AND AGRICULTURE ORGANIZATION (FAO) NATIONAL INNOVATIONS IN CLIMATE RESILIENT

Recent Update: Promotes food security and released AGRICULTURE (NICRA)
key reports on food, forestry, and fisheries. Recent Update: Continues focus on building climate
About: resilience in agriculture since 2011.
 Specialized UN agency established in 1945, About:
headquartered in Rome, Italy.  Launched by: ICAR.
 Focuses on food security and access to  Focus Areas:
nutritious food.
o Adaptation and mitigation in crops,
 Produces important reports like SOFI, SOFO, livestock, fisheries, and natural
and SOCO. resource management.

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  Modules:  Launched: 2022 by the Netherlands
o Natural Resource Management. Government and OECD.

o Improving Soil Health.  Goal: Form a Global Water Pact to improve

governance and secure funding.
o Crop Production.
 Key Focus: Recognizing water as a global
o Livestock Management. common good.

w .x ia .in /c u se s
SAMARTH SCHEME

e
DIGITAL PUBLIC INFRASTRUCTURE (DPI)
Recent Update: Extended until 2025-26 with a budget

//w w . ia .i /c u s
w ia s. / ou rs s
Recent Update: India Stack achieves global
of ₹495 Crore to train 3 lakh individuals.

s: /w w .x as .in /co ur
recognition for foundational digital systems in
About: identity, payments, and data management.

ia .in /c u se s
tp :/ ww w xi s in co
 Objective: Skilling for textile-related sectors. About:

r
.x s in co r e
 Launched: 2017 by the Ministry of Textiles.

s. / ou rs s
ht tps :// ww w. xia s. in/
 Scope: Entire value chain of textiles
(excluding spinning/weaving).

/c u se s
ht tps :// ww w. xia s.

in co r e
 Special Provisions:
ht tps :// ww w. xia

ou rs s
o Upskilling in handloom, handicrafts,
silk, jute, and productivity
ht tps :// ww w.

improvement.

rs es
n
ht tps :// ww

es
TEA
Recent Update: India remains the second-largest tea
producer globally, after China.
ht tps ://


s

About: Pillars:
ht tps

o Identity (Aadhaar).
 Cultivation Regions: Assam, Karnataka,
Kerala, Tamil Nadu, NE India. o Payments (UPI).

ht

Climate Needs: Hot, humid, 20–30°C, and o Data Sharing Platforms.

x

150–300 cm annual rainfall.  Significance: Backbone for digital

 Global Rank: governance.
o 2nd in production.  Global Role: First country to implement all
three pillars.
w

o 4th in exports.
 Domestic Use: 80% of production.
 Key Highlights: INTERNATIONAL MONETARY FUND (IMF)

o Darjeeling Tea: First Indian GI tag Recent Update: WEO Report projects India's GDP
(2004). growth at 7% (2024-25) and 6.5% (2025-26).
About:
o Regulated by the Tea Board of India.
 Founded: 1944 at Bretton Woods
o Contains antioxidants and promotes Conference.
health benefits.
 Focus: Monetary cooperation, financial
stability, and economic growth.
GLOBAL COMMISSION ON ECONOMICS OF WATER  Headquarters: Washington, DC.
(GCEW)
 Key Reports:
Recent Update: Report "The Economics of Water"
o World Economic Outlook.
emphasizes the escalating water crisis threatening
SDGs. o Global Financial Stability Report.
About:  India's Quota: 2.75% (voting rights: 2.63%)

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 SOURCE: VISION IAS NOBEL PRIZE IN ECONOMICS
INTERNATIONAL COFFEE DAY 2024 Recent Update
Recent Update: This is celebrated annually on The 2024 Nobel Prize in Economics was awarded to
October 1, with the theme "Coffee, Your Daily Ritual, Daron Acemoglu, Simon Johnson, and James A.
Our Shared Journey." Robinson for their research on the role of institutions
About ICO AND COFFEE DAY: in shaping prosperity.

w .x ia .in /c u se s


e
Organizer:International Coffee Organization About Their Research
(ICO).

//w w . ia .i /c u s
w ia s. / ou rs s
 Key Focus: Impact of societal institutions on a

s: /w w .x as .in /co ur
 Foundation: Established in 1963 under the country's prosperity.
UN’s auspices.

ia .in /c u se s
 Colonial Legacy: Colonizers' systems led to a

tp :/ ww w xi s in co
r


.x s in co r e
Aim: Promotes global coffee sustainability. “reversal of fortunes”, turning the poorest
regions into the richest.

s. / ou rs s
 Membership:77 states, with India as an
ht tps :// ww w. xia s. in/
exporting member.  Key Factors Influencing Institutions:

/c u se s
o Settler mortality rates and
ht tps :// ww w. xia s.

in co r e
GEOGRAPHICAL INDICATIONS TAG TO 8 ASSAM population density shaped the types of
ht tps :// ww w. xia

institutions formed.

ou rs s
PRODUCTS
Recent Update  Types of Institutions:
ht tps :// ww w.

rs es
 Geographical Indications Registry granted GI o Extractive Institutions: Established to
n
tags to eight Assam products. exploit indigenous populations and natural
ht tps :// ww

resources, limiting long-term investment

es
About Assam Products due to risks of confiscation.
 Fermented rice-based beverages: Bodo Jou o Inclusive Institutions: Created in
ht tps ://

Gwran, Bodo Jou Gishi, Maibra Jou Bidwi. sparsely populated colonies for European
s

 Traditional dishes: settlers, providing incentives for work,

ht tps

savings, and investment.

o Bodo Napham (fermented fish).
o Bodo Ondla (rice powder curry).
ht

B-READY INDEX
x

o Bodo Gwkha (prepared during

Bwisagu festival). Recent Update
o Bodo Narzi (semi-fermented food The World Bank (WB) has launched the first edition of
with jute leaves). its Business-Ready (B-Ready) Index to assess the
w

global business and investment climate.

 Traditional shawl: Bodo Aronai.
About B-Ready Index
 Purpose: Evaluate the business and
investment climate globally to promote
private investment, create jobs, and boost
productivity for sustainable development.
 Goals:
o Ensure comparability across
economies and representativeness within
each.
 Key Areas of Focus:
o Reform Advocacy: Promotes policy
reforms through benchmarks and dialogue.
o Policy Guidance: Offers tailored
recommendations based on global best
practices.

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 o Analysis and Research: Provides data o Developed using Digital Master
to support private sector development. Planning tool by BISAG-N with GIS
technology.

INDIA’S SMALL COMPANIES o Hosted on Meghraj, integrates ISRO

satellite imagery and Survey of India
Recent Update basemaps.
A recent paper highlighted the rise of Multi-plant o Database: Includes projects like

w .x ia .in /c u se s
Phenomena in the Indian manufacturing sector, Bharatmala, Sagarmala, inland

e
indicating a shift towards distributing factories within waterways, dry/land ports, and
the same state rather than scaling up individual

//w w . ia .i /c u s
w ia s. / ou rs s
UDAN.
plants.

s: /w w .x as .in /co ur
About Multi-plant Phenomena

ia .in /c u se s
tp :/ ww w xi s in co
r


.x s in co r e
Definition: Manufacturing firms are
increasingly opting to distribute their

s. / ou rs s
ht tps :// ww w. xia s. in/
workforce across multiple plants in the same
state instead of expanding a single plant.

/c u se s
ht tps :// ww w. xia s.

o
 Key Findings:

in co r e
ht tps :// ww w. xia

o Over 25.16% of total employment in

ou rs s
plants and 35.48% in large plants are
attributed to the multi-plant phenomenon.
ht tps :// ww w.

rs es
 Challenges:
n
10 YEARS OF MAKE IN INDIA
ht tps :// ww

o The phenomenon underscores issues

es
like missing middle and firm dwarfism, Recent Update:
which hinder growth and job creation in  The "Make in India" initiative recently
ht tps ://

India’s manufacturing sector. completed 10 years since its launch on

s

o It highlights the difficulties firms face September 25, 2014.

ht tps

when attempting to scale up effectively. About ‘Make in India’:

 Aim: To transform India into a global design
ht

PM GATISHAKTI NATIONAL MASTER PLAN and manufacturing hub under the 'Vocal for
x

Local' initiative.
Recent Update:
 Objectives:
 The PM GatiShakti National Master Plan
(PMGS) recently completed three years of its o Increase industrial growth rate to 12-
w

launch in 2021. 14% per year.

About PM GatiShakti (PMGS): o Create 100 million industrial jobs by
 Approach: A comprehensive growth strategy 2022 (target revised to 2025).
using synchronized, holistic, and integrated o Increase manufacturing sector’s
planning to build infrastructure. share to 25% of GDP by 2025.
 7 Engines: Focuses on Railways, Roads, Ports,  Sectors:
Waterways, Airports, Mass Transport, and o Make in India 2.0 (launched in 2021)
Logistics Infrastructure. focuses on 27 sectors across multiple
 Objectives: Ministries, Departments, and state
governments.
o Enhance ease of living and ease of
doing business.  Pillars:
o Minimize disruptions and expedite o New Processes: Focus on Ease of
work completion with cost Doing Business to promote
efficiencies. entrepreneurship.
 PM GatiShakti National Master Plan (PMGS
NMP):

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 o New Infrastructure: Development of o Global Prosperity Gap: Stalled
industrial corridors, smart cities, and progress in inclusive income growth,
world-class infrastructure. highlighting the gap to reach the $25 per
o New Sectors: Opening up FDI in person per day prosperity standard.
Defence, Insurance, Medical Devices, o India's Progress: Significant reduction
Construction, and Railway infrastructure. in extreme poverty in India from 431
o New Mindset: Government acts as a million (1990) to 129 million (2024).

w .x ia .in /c u se s
facilitator rather than a regulator.  Extreme poverty is defined by

e
the World Bank as living on less than

//w w . ia .i /c u s
w ia s. / ou rs s
$2.15 per person per day.

s: /w w .x as .in /co ur

ia .in /c u se s
GLOBAL INNOVATION INDEX 2024 AND SOCIAL

tp :/ ww w xi s in co
r
.x s in co r e
ENTREPRENEURSHIP

s. / ou rs s
ht tps :// ww w. xia s. in/ Recent Update:
 The Global Innovation Index (GII) 2024 was

/c u se s
ht tps :// ww w. xia s.
released by the World Intellectual Property

in co r e
Organization (WIPO), Cornell University, and
ht tps :// ww w. xia

ou rs s
INSEAD Business School.
About GII 2024:
ht tps :// ww w.

rs es
 Theme: Unlocking the Promise of Social
n
Entrepreneurship.
ht tps :// ww

es
 Criteria for Measurement:
o Institutions, Human Capital and
ht tps ://

Research, Infrastructure, Credit,

s

Investment, Linkages.
ht tps

POVERTY IN INDIA o Focus on Creation, Absorption, and

Recent Update: Diffusion of knowledge, and Creative
Outputs.
ht

 The World Bank has released the report

x

 Top Rankings:
‘Poverty, Prosperity, and Planet: Pathways
out of the Polycrisis’, offering a post- o Switzerland ranked 1st, followed by
pandemic assessment of global progress Sweden, US, and Singapore.
toward poverty, prosperity, and sustainability. 
w

India's Performance:
About the Report: o Ranked 39th among 133 nations,
 Key Findings: improving from 40th in 2023, with a score
o Stalled Global Poverty Reduction: of 38.3.
Progress has slowed significantly in the past o Top rank in lower middle-income
5 years due to the polycrisis (a combination economies and Central & Southern Asia
of economic slowdowns, climate risks, region for Knowledge & Technology
fragility, and uncertainty). Outputs, Creative Outputs, Institutions,
 Polycrisis: Multiple and Business Sophistication.
overlapping crises making national o Top 100 S&T Clusters: Bengaluru,
strategies and international cooperation Delhi, Chennai, and Mumbai.
more challenging.
o Non-attainment of Targets: Global NATIONAL MISSION ON EDIBLE OILS
extreme poverty is expected to affect 7.3%
of the population by 2030 (up from 8.5% in Recent Update: The Union Cabinet approved the
2024), double the World Bank target of 3%, National Mission on Edible Oils – Oilseeds (NMEO-
far from the SDGs target of elimination. Oilseeds) for the period 2024-25 to 2030-31.

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 About NMEO-Oilseeds:  The Ministry of Statistics and Programme
 Targets for 2030-31: Implementation (MoSPI) released the Annual
Survey of Industries (ASI) for FY 2022-23,
o Increase primary oilseed production providing insights into the dynamics of change
to 69.7 million tonnes (up from 39 million in the composition, growth, and structure of
tonnes in 2022-23). manufacturing industries.
o Boost domestic edible oil production About ASI:
to 25.45 million tonnes, meeting 72% of

w .x ia .in /c u se s
projected demand with NMEO-OP (Oil  Conducted under: The Collection of Statistics

e
Palm). Act, 2008, except in Jammu & Kashmir

//w w . ia .i /c u s
w ia s. / ou rs s
(conducted under J&K Collection of Statistics
o Expand oilseed cultivation by 40 lakh

s: /w w .x as .in /co ur
Act, 2010).
hectares, focusing on rice and potato


ia .in /c u se s
fallow lands, intercropping, and crop Industries Covered:

tp :/ ww w xi s in co
r
.x s in co r e
diversification. o Factories registered under Sections

s. / ou rs s
 2m(i& ii) of the Factories Act, 1948.
ht tps :// ww w. xia s. in/
Focus Areas:
o Key Oilseed Crops: Increase o Bidi and cigar manufacturing

/c u se s
establishments under the Bidi & Cigar
ht tps :// ww w. xia s.
production of Rapeseed-Mustard,

in co r e
Groundnut, Soybean, Sunflower, and Workers (Conditions of Employment) Act,
ht tps :// ww w. xia

1966.

ou rs s
Sesamum.
o Secondary Sources: Enhance o Electricity undertakings not
registered with the Central Electricity
ht tps :// ww w.

rs es
extraction efficiency from Cottonseed, Rice
Authority (CEA).
n
Bran, and Tree Borne Oils.
ht tps :// ww

o Units with 100 or more employees

es
registered in the Business Register of
RESPONSIBLE CAPITALISM Establishments (BRE) maintained by state
ht tps ://

Recent Update: governments.

s

 The Union Finance Minister emphasized the

ht tps

need for responsible capitalism at the Tech INPUT TAX CREDIT

Leaders Roundtable in Mexico, highlighting
the challenge for large economies to not just Recent Update:
ht

grow, but also reduce inequality and create  The Supreme Court recently established twin
x

opportunities for all. tests—‘functionality’ and ‘essentially’—for

About Responsible Capitalism: eligibility of Input Tax Credit (ITC) in
construction.
 Definition: An economic approach that
w

integrates ethical values into business  The Government approved changes to the
practices. RoDTEP scheme, and the RBI released a
report on revising the MIBOR benchmark.
 Key Principles:
About Input Tax Credit (ITC):
o Balancing profit with social
responsibility.  Definition: ITC is a mechanism to avoid tax
cascading (i.e., tax on tax).
o Ensuring businesses contribute to
societal well-being, fairness, and  Eligibility: A registered taxable person under
environmental sustainability. GST can claim ITC if tax is paid in the course of
business and credited to the electronic
o Focusing on broader stakeholder ledger.
interests rather than solely on shareholder
returns.  Supreme Court Ruling:
o ‘Functionality’ Test: Determines if a
building qualifies as a plant.
ANNUAL SURVEY OF INDUSTRIES (ASI)
o ‘Essentially’ Test: If the building is
Recent Update: essential for services like renting/

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 leasing, it can be considered a plant  Objective: Sustainable economic growth
under the CGST Act. &price stability through money supply
adjustments.

REMISSION OF DUTIES AND TAXES ON EXPORTED  Statutory Basis: RBI Act, 1934 (amended in
PRODUCTS (RODTEP) SCHEME 2016).

About RoDTEP Scheme:  Framework: Inflation target of 4% (±2%) till

March 2026 set by Central Government in

w .x ia .in /c u se s
 Introduced: In 2021 by the Ministry of consultation with RBI.

e
Commerce and Industry.
 Tools: Repo Rate, Reverse Repo Rate, etc.

//w w . ia .i /c u s
w ia s. / ou rs s
 Aim: To refund taxes, duties, and levies at the
 Types: Expansionary (Lower rates to boost

s: /w w .x as .in /co ur
central, state, and local levels on exported
products. economy) &Contractionary (Increase rates to

ia .in /c u se s
control inflation).

tp :/ ww w xi s in co
r


.x s in co r e
Key Changes:

s. / ou rs s
o For Domestic Tariff Area (DTA) units:
ht tps :// ww w. xia s. in/
Extension till 30th September 2025. INDIA FOREX RESERVE CROSSES $700 BILLION
Recent Update:

/c u se s
o For Export-Oriented Units,
ht tps :// ww w. xia s.

o


in co r e
Authorisation Holders: Applicable till India became the 4th country globally with
ht tps :// ww w. xia

end of this year. over $700 billion in foreign reserves.

ou rs s
o New Rates: From October 10th, 2024, About Forex Reserve:
based on RoDTEP Committee's
ht tps :// ww w.

rs es
 Definition: Assets held by central bank,
recommendations.
n
managed by RBI under the RBI Act of 1934.
ht tps :// ww

es
 Components:
RBI RELEASED REPORT OF THE COMMITTEE ON o Foreign Currency Assets (FCA):
MIBOR BENCHMARK Valued in foreign currencies.
ht tps ://

About MIBOR: o Gold Reserves.

ht tps

 MIBOR (Mumbai Interbank Outright Rate) is o Special Drawing Rights (SDR): IMF
the interest rate benchmark for unsecured asset based on 5 major currencies.
interbank lending in India, introduced by NSE
ht

in 1998. o Reserve Tranche Position (RTP):

x

Quota-based holdings by the IMF.

 Computation: Published by Financial
Benchmarks India Pvt. Ltd. (FBIL) daily, based
on transactions in the NDS-Call system. UPI 123 AND UPI LITE
w

 Issues: Recent Update:

o Narrow transaction volume (1% of  RBI enhanced transaction limits for
daily money market volume). UPI123Pay (₹5000 to ₹10,000) and UPI Lite
o Volatility due to thin call money (₹500 to ₹1,000 per transaction).
market volumes. About UPI:
 Proposed Changes: Transition to a new  UPI123Pay: Launched for feature-phone
secured money market benchmark for users, supports multiple transaction methods.
product derivatives.
 UPI Lite: Facilitates low-value transactions
without UPI PIN, with enhanced wallet limit of
RBI STUDY ON MONETARY POLICY TRANSMISSION ₹5000.
Recent Update:
 RBI released a study analyzing the impact of CAREEDGE SOVEREIGN CREDIT RATINGS RELEASED
informality in labor markets on inflation Recent Update:
stabilization and monetary policy.
 CareEdge became India’s first agency to
About Monetary Policy (MP): release sovereign credit ratings for 39 global
economies.

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 About Sovereign Credit Rating (SCR):  Objective: Assess financial inclusion in rural
 Definition: Assessment of a country's ability areas, covering loans, insurance, and
to meet its debt obligations. pensions.

 Regulation: SEBI regulates domestic credit  Key Highlights:

agencies. o Income increased by 57.6%.
 Importance: Facilitates borrowing at low o Kisan Credit Card became key for
costs, boosts confidence, and attracts foreign financial inclusion.

w .x ia .in /c u se s
investment.

e
o Financial Literacy rose from 33.9% to
51.3%.

//w w . ia .i /c u s
w ia s. / ou rs s
s: /w w .x as .in /co ur
GLOBAL FAMILY FARMING FORUM (GFFF) LAUNCHED o Agricultural households borrowing
from institutional sources rose to 75.5%.

ia .in /c u se s
Recent Update:

tp :/ ww w xi s in co
r
.x s in co r e
 GFFF was launched at the FAO’s World Food

s. / ou rs s
Forum, focusing on family farmers’ role in GOVERNMENT NOTIFIES OFFSHORE AREAS
ht tps :// ww w. xia s. in/
sustainable agriculture. OPERATING RIGHT RULES, 2024

/c u se s
About Family Farming: Recent Update:
ht tps :// ww w. xia s.

in co r e
 Definition: Farming managed by a family  Rules notified under the Offshore Areas
ht tps :// ww w. xia

ou rs s
using family labor, including agriculture, Mineral (Development and Regulation) Act,
fisheries, and aquaculture. 2002, aiming to regulate exploration and
production of minerals in offshore regions.
ht tps :// ww w.

rs es
 Significance:
n
o Food Security: Accounts for 70-80% of  This includes the first-ever offshore mineral
ht tps :// ww

auction for 10 blocks, including sand, lime

es
global food production.
mud, and polymetallic nodules.
o Nutritional Diversity: Supports crop
biodiversity. About Offshore Areas Operating Right Rules:
ht tps ://

o Sustainability: Uses traditional, low-  Applicability: Covers all minerals in offshore

ht tps

input methods to ensure climate resilience. areas, except mineral oils, hydrocarbons, and
specified atomic minerals.
 Lease Surrender: Allows for surrender of lease
ht

COMMITMENT TO REDUCING INEQUALITY (CRI) after 10 years if production operations are

x

INDEX 2024 uneconomic.

Recent Update:  Priority Access: Government and
 The CRI 2024 ranks countries based on their government-owned companies have priority
w

commitment to reducing inequality, with for operating rights in reserved offshore

India ranked 127th. zones.
About CRI Index:
 Purpose: Measures efforts to address NATIONAL ELECTRICITY PLAN (TRANSMISSION)
inequality based on public services, Recent Update:
progressive taxation, and labor rights.
 National Electricity Plan (Transmission)
 Top Performers: Norway, Canada, Australia. launched by the Union Ministry of Power.
 Worst Performers: South Sudan, Nigeria.  Aims to strengthen transmission networks
ALL INDIA RURAL FINANCIAL INCLUSION SURVEY and facilitate the integration of renewable
2021-22 energy.
Recent Update: About National Electricity Plan (Transmission):
 NAFIS 2021-22 survey reveals key trends in  Aim: Transmit 500 GW of renewable energy
rural financial inclusion, showing an increase by 2030 and over 600 GW by 2032.
in income and financial literacy.  Transmission Network Expansion: From 4.85
About NAFIS: lakh ckm in 2024 to 6.48 lakh ckm by 2032.

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  Inter-Regional Transmission Capacity: HUMSAFAR POLICY
Increase to 168 GW by 2032. Recent Update:
 Innovative Elements: Integration of offshore  Humsafar Policy launched by the Union
wind farms, battery storage systems, and Minister of Road Transport & Highways.
pumped storage plants.
About Humsafar Policy:
 Cross-Border Interconnections: Includes
connections with Nepal, Bhutan, Myanmar,  Objective: Provide a framework for

w .x ia .in /c u se s
and more. standardized, well-maintained, and hygienic

e
facilities along National Highways and
Expressways.

//w w . ia .i /c u s
w ia s. / ou rs s
NATIONAL AGRICULTURE CODE (NAC)

s: /w w .x as .in /co ur
 Key Benefits:
Recent Update:

ia .in /c u se s
o Waiver of renewal fees for service

tp :/ ww w xi s in co
r


.x s in co r e
The Bureau of Indian Standards is creating providers maintaining an average rating of
the National Agriculture Code (NAC), similar 3 or higher.

s. / ou rs s
ht tps :// ww w. xia s. in/
toNational Building Code. o Reliable passenger facilities at regular
About NAC: intervals.

/c u se s
ht tps :// ww w. xia s.

o


in co r e
Two Parts: General principles for all crops and
ht tps :// ww w. xia

crop-specific standards for paddy, wheat,

ou rs s
CRUISE BHARAT MISSION (CBM) LAUNCHED
oilseeds, and pulses.
Recent Update:
 Coverage: Includes agricultural processes,
ht tps :// ww w.

rs es
post-harvest operations, and practices.  Cruise Bharat Mission launched by the
n
Ministry of Ports, Shipping, and Waterways
ht tps :// ww

 Objectives:

es
to promote India as a global hub for cruise
o Create a national code tailored to tourism.
agro-climatic zones. About Cruise Bharat Mission:
ht tps ://

o Offer a guide for effective decision-  Aim: Double cruise passenger traffic by 2029
ht tps

making in agriculture. (from 4.6 lakh in 2024 to 9 lakh).

o Address SMART farming and  Goals: Increase cruise calls from 254 in 2024
sustainability in agriculture. to 500 by 2030.
ht

 Phase-wise Implementation:
CENTRAL SILK BOARD o Phase 1 (2024-2025): Form cruise
Recent Update: alliances.

w

Platinum jubilee of the Central Silk Board o Phase 2 (2025-2027): Develop new
celebrated. terminals and destinations.
About Central Silk Board: o Phase 3 (2027-2029): Integrate cruise
 Established: 1948 under an Act of Parliament. circuits across the Indian Subcontinent.

 Ministry: Ministry of Textiles.

 Mandate: Advise the government on matters Z-MORH PROJECT
concerning the sericulture and silk industry. Recent Update:
 Headquarters: Bengaluru.  Z-Morh Project site attacked by militants in
About Silk Production in India: Jammu and Kashmir.

 India is the 2nd largest silk producer, About Z-Morh Project:

contributing 42% of global production (2023).  Location: 6.4 km tunnel on the Srinagar-
 Major producers: Karnataka (32%) and Sonamarg highway at 8,500 feet altitude.
Andhra Pradesh.  Strategic Importance:
 Types of silk: Mulberry, Eri, Tasar, and Muga. o Provides all-weather connectivity
between Srinagar and Sonamarg.

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 o Part of the larger Zojila tunnel project About:
for connectivity to Ladakh.  Rice and Groundwater: Unsustainable rice
o Reduces military reliance on air farming depletes groundwater resources.
transport.  Impact: Rising temperatures and agricultural
o Connects Srinagar, Dras, Kargil, and practices are exacerbating water security
Leh regions. issues.

w .x ia .in /c u se s e
INDIA’S CONCERNS ON EU’S CBAM AND
DEFORESTATION NORMS

//w w . ia .i /c u s
w ia s. / ou rs s
s: /w w .x as .in /co ur
Recent Update:
India criticized the EU's CBAM and EUDR as unilateral

ia .in /c u se s
tp :/ ww w xi s in co
and as trade barriers targeting Indian industries.

r
.x s in co r e
About:

s. / ou rs s
ht tps :// ww w. xia s. in/  CBAM: Aims to level the playing field for
carbon-intensive imports by imposing carbon

/c u se s
ht tps :// ww w. xia s.

o
price.

in co r e
SOURCE: DRISHTI MONTHLY
ht tps :// ww w. xia

 EU Regulations: Mandates carbon pricing on

ou rs s
RAISING OF ASSET MONETISATION TARGET
imports to ensure fair competition with EU-
Recent Update: produced goods.
ht tps :// ww w.

rs es
NITI Aayog has raised the asset monetisation target
n
for FY25 to Rs 1.9 trillion, bringing it closer to the Rs 6
ht tps :// ww

trillion goal under the National Monetisation Pipeline MIDDLEMEN GAIN AS FARMERS EARN LESS IN AGRI

es
(NMP) for 2022-25. PRODUCE: RBI
About Asset Monetisation: Recent Update:
ht tps ://

RBI reports show middlemen benefit

s

 Monetisation: Converting assets into

disproportionately during high inflation in the fruits
ht tps

revenue-generating forms.
and vegetables sector, harming farmers' earnings.
 Need: Unlocks economic value of
underutilised public assets. About:
ht

 Objective: Create new revenue streams  Inflation Types: Demand-pull, cost-push, and
x

without selling assets. structural inflation affect food prices.

GDP BASE YEAR REVISION  Impact: Middlemen capture a large share of
profits, while farmers earn less.
Recent Update:
w

MoSPI is revising India’s GDP base year, engaging

economists due to controversies surrounding the WEED-INDUCED CROP LOSSES
2015 revision.
Recent Update:
About: A study reveals weeds cause Rs 92,000 crore annual
 Previous Issues: Changes to GDP calculations losses in crop productivity, highlighting the need for
raised methodological concerns and the use better weed management.
of a single deflator. About:
 Criticism: Discarded key data sources and  Losses: Weeds cause 25-26% yield loss in
caused confusion in GDP growth calculations. kharif crops and 18-25% in rabi crops.
 Management: Strategies like herbicides and
SUSTAINABLE AGRICULTURE TO RECOVER crop rotation could reduce costs by 40-60%.
GROUNDWATER
Recent Update: FLORICULTURE IN INDIA
IIT Gandhinagar’s study suggests replacing 40% of rice
Recent Update:
cultivation with other crops to recover 60-100 cubic
Farmers in Odisha’s Jujumara region are adopting
km of groundwater lost in northern India.

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 floriculture, transitioning from traditional rice Recent Update: SEBI introduces new reforms to
farming, with significant economic benefits. regulate Futures and Options (F&O) trading and curb
About: speculative practices.
About:
 Floriculture: Involves cultivating flowering and
ornamental plants for various industries.  Recalibration of contract size: Increased
minimum size to ₹15 lakh for index
 Support: The National Botanical Research derivatives.
Institute is helping farmers adopt flower

w .x ia .in /c u se s
cultivation.  Upfront collection of options premium:

e
Effective February 2025 to ensure financial

//w w . ia .i /c u s
w ia s. / ou rs s
discipline.

s: /w w .x as .in /co ur
 Impact: Aims to reduce speculative trading

ia .in /c u se s
and protect retail investors.

tp :/ ww w xi s in co
r
.x s in co r e
s. / ou rs s
ht tps :// ww w. xia s. in/ INDIA’S EMPLOYMENT GROWTH
Recent Update: India’s employment grew by 36%,

/c u se s
ht tps :// ww w. xia s.
adding 17 million jobs between 2016-2023, signaling

in co r e
positive economic growth.
ht tps :// ww w. xia

ou rs s
About:
 Employment growth: 36% increase in
ht tps :// ww w.

rs es
employment over seven years.
n
INDIA’S BALANCE OF PAYMENTS (BOP)  Worker population ratio: Increased by 9%
ht tps :// ww

es
from 2017-2023.
Recent Update:
India’s Current Account Deficit (CAD) widened to USD  Sectoral job creation: Services sector shows
high labor intensity and robust growth.
ht tps ://

9.7 billion (1.1% of GDP) in Q1 of 2025, reflecting

s

trends in the Balance of Payments.

ht tps

About: MF LITE FRAMEWORK

 BOP: The record of international transactions, Recent Update: SEBI introduces the MF Lite
ht

influencing exchange rates. framework to boost passive mutual funds and attract
x

 Constituents: Includes Current Account new players to the market.

(goods and services) and Capital Account. About:
 Relaxed regulations: Lower eligibility criteria
for new Asset Management Companies
w

INTERNATIONAL DAY OF AWARENESS OF FOOD LOSS (AMCs).

AND WASTE
 Minimum net worth: ₹35 crore required for
Recent Update: passive funds.
The International Day of Awareness of Food Loss and
Waste highlights the 30% global food loss, urging  Simplified governance: Reduced oversight
efforts to reduce food waste, especially in India. roles and improved operational transparency.

About:
 Food Loss: Loss of food due to supply chain INDIA TEXTILE SECTOR
inefficiencies and natural disasters. Recent Update: India’s textile industry faces
 Food Waste: Food discarded due to spoilage challenges despite aiming for a $350 billion target by
or expiry. 2030.
About:
 SDG Goal: Halve food waste and reduce losses
by 2030 (SDG Target 12.3).  Global position: India is the 3rd largest textile
exporter.
 Employment: 105 million people employed in
SOURCE: INSIGHTS MONTHLY the sector.
SEBI RULES TO CURB F&O TRADING

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  Recent performance: Exports declined from  Competitors: Thailand, Vietnam, and
$43.4 billion in FY22 to a lower figure in FY23- Pakistan challenge India’s position.
24.  Export breakup: Non-Basmati rice saw a rise
in exports, especially varieties like parboiled
INDIA’S ASCENDANT ECONOMY rice.

Recent Update: India’s economic rise continues with a

7% GDP growth and a thriving startup ecosystem. INDIA’S FERTILIZER IMPORTS

w .x ia .in /c u se s
About:

e
Recent Update: India seeks to reduce reliance on
 GDP growth: Projected at 7% for FY 2024-25. fertilizer imports amid global supply disruptions.

//w w . ia .i /c u s
w ia s. / ou rs s
About:

s: /w w .x as .in /co ur
 Digital economy: UPI transactions surged,
showing rapid digital adoption.  Dependence on imports: Relies on foreign

ia .in /c u se s
tp :/ ww w xi s in co
sources for urea, DAP, and MOP.

r


.x s in co r e
Startup ecosystem: India is the 3rd largest
startup hub globally.  Primary sources: Major import partners

s. / ou rs s
ht tps :// ww w. xia s. in/ include China, Russia, and Saudi Arabia.

/c u se s
UNPAID LABOR IN INDIA
ht tps :// ww w. xia s.

in co r e
Recent Update: A report highlights the economic
ht tps :// ww w. xia

ou rs s
contribution of unpaid household work, primarily
carried by women.
About:
ht tps :// ww w.

rs es
n
 Women’s unpaid work: Women spend 36
ht tps :// ww

hours/week on unpaid domestic tasks, more

es
than double men.
 Economic contribution: Unpaid labor
ht tps ://

contributes 7.5% of GDP.

s


ht tps

Labor force gap: Women outside the labor

force spend over 7 hours daily on unpaid
tasks.
ht

NON-BASMATI RICE EXPORTS

Recent Update: India lifted the ban on Non-Basmati
White Rice exports with a minimum export price set
w

at $490 per tonne.

About:
 India’s export dominance: India is the largest
rice exporter, holding 33% of global exports.

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 SOURCE: THE HINDU
STANDARDISED PRECIPITATION INDEX (SPI) GEM & JEWELLERY EXPORT PROMOTION COUNCIL
Recent Update: The IMD uses SPI to analyze drought (GJEPC)
and wet conditions across India. Recent Update:
About: GJEPC, established in 1966, promotes the export of
 SPI measures precipitation-based conditions gems and jewellery in India.
over different time scales (1-12 months). About:
 Negative SPI indicates drought, positive for  Works with the Ministry of Commerce and
wet conditions. Industry to address industry issues.
 Recommends policy interventions to the

s: /w w .x as .in
WORLD TRADE STATISTICS 2023 government.
Recent Update: India ranks 8th in global exports,  Headquartered in Mumbai, with regional

tp :/ ww w xi s
n
according to WTO. offices in key cities like New Delhi, Kolkata,
and Chennai.
ht tps :// ww w. xia
About:

//w w . ia .i
 Top exporters: EU, US, Brazil, China, and

w .x ia .in
Canada. NATIONAL PEST SURVEILLANCE SYSTEM (NPSS)
 India ranks 7th in services exports, 18th in Recent Update:
ht ps // w w.
merchandise exports.  AI-based NPSS platform launched for pest

s
.x s in
management advisories.
ht tps :// ww

MILLETS About:

w ia s.
 Developed by the Ministry of Agriculture and

ia .in
Recent Update:
 Millets are drought-tolerant grains, cultivated ICAR-NCIPM.
in dry areas in regions like India, Nigeria, and  Uses AI and ML technologies to help farmers
ht tps ://

reduce pesticide use.

in
China.
w

x
 India is the largest producer and celebrated  Aims to inculcate a scientific approach to pest
ht tps

s.
2023 as the International Year of Millets. control.
About:
 Common varieties include Ragi, Jowar, and E-MIGRATE PORTAL
ht

w
Bajra. Recent Update:
 Known for high nutritional value, including The e-Migrate portal supports safe and legal
:

carbohydrates, proteins, and minerals. migration for blue-collar workers.

 Found in Indus Valley Civilization. About:
 Launched in 2014, it connects foreign
employers, recruiting agents, and insurance
DIAMOND IMPREST LICENCE
companies.
Recent Update:
 Integrates with the Passport Seva Project for
The Indian government has introduced the Diamond
t

ECR category workers.

Imprest Licence to benefit MSMEs in the diamond
industry, particularly exporters.  Managed by the Protector General of
About: Emigrants (PGE) under the Emigration Act,
1983.
 Allows diamond exporters to import up to 5%
of their average export turnover over the past
3 years.
 Targets Micro, Small, and Medium
Enterprises in the diamond sector. GLOBAL EMPLOYMENT TRENDS FOR YOUTH 2024
 Aims to create a level playing field for smaller Recent Update:
exporters to compete with larger peers.  The ILO released the 2024 Youth Employment
 Announced at the India International Report.
Jewellery Show (IIJS) 2024 by the Union About:
Minister of Commerce & Industry.  Youth Unemployment: 13% in 2023, the
lowest in 15 years.

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  NEET Status: 20.4% of youth were in NEET Recent Update
(Not in Employment, Education, or Training).  FRP is set by the Cabinet Committee under
 2 in 3 NEET youth are women. PM's leadership and is based on CACP's
recommendations.
CORPORATE AVERAGE FUEL ECONOMY (CAFE) About
Recent Update:  FRP ensures sugarcane farmers receive a
 India to shift to WLTP testing for fuel minimum price.
efficiency by March 2027.  CACP: Recommends MSPs for crops and FRP
About: for sugarcane.

s: /w w .x as .in
 CAFE regulations set fuel efficiency standards
for vehicles. EXTENDED FUND FACILITY (EFF)
 Aims to reduce fuel consumption and lower Recent Update

tp :/ ww w xi s
n
CO2 emissions.  The IMF's EFF helps countries facing

ht tps :// ww w. xia

//w w . ia .i
 Bureau of Energy Efficiency (BEE) is structural economic issues by offering long-
implementing the change. term financing.

w .x ia .in
About
ht ps // w w.
SUGARCANE  Purpose: Address medium-term Balance of
Payments (BoP) problems.

s
.x s in
Recent Update
 Sugarcane is a tropical, perennial grass used  Duration: Typically 3-4 years.
ht tps :// ww

 Conditions: Countries must implement

w ia s.
to produce sugar, ethanol, and paper.

ia .in
 It requires high water and humid climate structural reforms.
conditions for growth.
ht tps ://

 Maharashtra has overtaken Uttar Pradesh in SWIFT SYSTEM

in
w

x
sugar production in 2022. Recent Update: SWIFT, a global messaging network
for financial institutions, handles a significant portion
ht tps

About

s.
 Scientific Classification: Genus Saccharum, of global payment flows.
tribe Andropogoneae. About:
 Uses: Sugar, ethanol, and paper production.  Formation: Established in the 1970s.
ht

w
 Climate Requirements: Temperature 21-27°C,  Role: Intermediary for secure financial
transactions.
:

Rainfall 75-100 cm.

 Soil: Deep, rich loamy soil (pH 6.5-7).  Scope: 40% of global US dollar payments.
 Major Producing States: Maharashtra, Uttar  Headquarters: Belgium.
Pradesh, Karnataka.  Exclusion: Barring countries from SWIFT
 Industry: India is the 2nd largest sugar impacts foreign funding access.
producer and largest consumer globally.
t

DIGITAL GENERAL CROP ESTIMATION SURVEY

SUGAR INDUSTRY IN INDIA (DGCES) INITIATIVE
Recent Update Recent Update:
 India is the second largest producer of sugar  Expected to provide near real-time data on
globally, and Maharashtra became the top crop production from the field.
producer in 2022. About:
About  Nodal Agency: Department of Agriculture and
 First Mill: Established in Bihar (1903). Farmers Welfare.
 Key Regions: Tropical (e.g., Maharashtra,  Estimates crop production by multiplying the
Tamil Nadu), Subtropical (e.g., UP, Bihar). area under the crop with the yield rate.
 Fair and Remunerative Price (FRP): Minimum  Yield rate determined through crop-cutting
price for sugarcane, based on Rangarajan experiments under the General Crop
Committee recommendations. Estimation Survey (GCES).

FAIR AND REMUNERATIVE PRICE (FRP)

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 WORLD DEVELOPMENT REPORT 2024
Recent Update: DIGITAL AGRICULTURE MISSION
 India is among 100 countries at risk of falling Recent Update:
into the middle-income trap. The Cabinet approved the Digital Agriculture Mission
About: (DAM) with an outlay of ₹2,817 crore.
 Report titled "The Middle Income Trap" by About:
the World Bank.  Objective: Utilizes technology under Digital
 Describes the situation where countries fail to Public Infrastructure (DPI) to improve
transition from middle-income to high- farmers’ welfare.

s: /w w .x as .in
income status.  Key Components:
 Growth slowdown after rapid progress is a o Agri Stack:
typical feature of the trap.  Farmers' Registry: Digital identity for

tp :/ ww w xi s
n
farmers.

ht tps :// ww w. xia  Geo-referenced Village Maps: Links

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FINANCIAL STABILITY BOARD (FSB)
Recent Update: farmer IDs with demographic data and

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 India holds three seats in the FSB Plenary. land records.
 Crop Sown Registry: Digital record of
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About:
seasonal crops.

s
 Monitors global financial stability and

.x s in
recommends regulatory policies. o Krishi Decision Support System (DSS):
ht tps :// ww

Integrates remote sensing data on soil,

 Established by the G20 in 2009 after the

w ia s.
crops, weather, and water resources.

ia .in
financial crisis.
 Based in Basel, Switzerland.
LIVESTOCK SECTOR IN INDIA
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 Includes central banks, ministries of finance,

in
Recent Update:
w

x
and regulatory authorities.
The Cabinet approved the Sustainable Livestock
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s.
Health and Production scheme with an outlay of
SOURCE: VISION MONTHLY ₹1,702 crore to boost farmers' income.
NEW SCHEMES FOR AGRICULTURE SECTOR About:
Recent Update:
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 Global Status: India has the world’s largest

w
The Union Cabinet has approved seven major livestock population and is the leading
:

schemes to enhance farmers’ lives and livelihoods, producer of buffalo meat.

with a total outlay of ₹14,235.30 crore.
 Economic Contribution: Accounts for 30.19%
About: of Agricultural GVA and 5.73% of total GVA
 Digital Agriculture Mission: Supports (2021-22).
initiatives like the Digital General Crop  Employment Generation: Supports over 70%
Estimation Survey (DGCES). of rural households, including marginal
 Crop Science for Food and Nutritional
t

farmers.
Security: Focuses on plant genetic resource  Food and Nutrition Security: Livestock
management and genetic improvement. products combat malnutrition; India ranks 1st
 Agricultural Education and Management: in global milk production.
Enhances rural development theories  Sustainability Link: Livestock aids in organic
through education. farming and utilizes agricultural waste as
 Sustainable Livestock Health: Emphasizes fodder.
livestock health and production.
 Sustainable Horticulture Development: HORTICULTURE SECTOR IN INDIA
Advances sustainable practices in
Recent Update:
horticulture.
The Cabinet approved a ₹1,129.30 crore scheme for
 Strengthening Krishi Vigyan Kendras: sustainable horticulture development and a ₹1,766-
Provides quality technological products to crore Clean Plant Programme under MIDH.
farmers and conducts extension activities.
About:
 Natural Resource Management: Promotes
efficient resource utilization.

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  Horticulture Overview: Encompasses o Targets the Non-Corporate Small
cultivation of fruits, vegetables, flowers, and Business Segment (NCSB).
trees. o Loans cover term and working capital
o Pomology: Fruit cultivation. needs.
o Olericulture: Vegetable cultivation.  Role of MUDRA Ltd.: Refinances MLIs and
o Floriculture: Flowers and ornamental does not directly lend to entrepreneurs.
plants.
 Production: 355.48 million tonnes (2022-23); CREATIVE ECONOMY
fruits and vegetables form 90% of production. Recent Update:


s: /w w .x as .in
Economic Significance: Contributes 33% to The Indian Chamber of Commerce launched the All
Agriculture GVA; India ranks 2nd in global India Initiative on Creative Economy (AIICE) to unlock
fruits and vegetable production. the potential of India’s creative industries.

tp :/ ww w xi s
n
 Global Leadership: Largest producer of About:

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onions, ginger, and bananas.  Creative Economy/Orange Economy:

//w w . ia .i
o Evolving concept based on creative

w .x ia .in
NATIONAL PEST SURVEILLANCE SYSTEM (NPSS) assets driving economic growth.
ht ps // w w.
Recent Update: o Creative industries involve the
The Ministry of Agriculture launched the AI-based creation, production, and distribution

s
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National Pest Surveillance System (NPSS) to assist of goods/services using creativity and
ht tps :// ww

farmers with pest management. intellectual capital.

w ia s.
About:  Characteristics:

ia .in
 Objective: Reduces farmers’ dependence on o Knowledge-based: Relies on
pesticide retailers and encourages scientific education and informal skill transfer.
ht tps ://

pest management. o Originality and imagination: Focuses

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 Key Features: on generating intellectual property.
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o Utilizes AI and ML technologies for o Adaptable to technology: Non-

s.
precise pest management. repetitive and resilient to
o Mobile app for uploading crop automation.
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images and seeking expert advice. o Economic and cultural value chain:
w
o Promotes Integrated Pest Original ideas evolve into cultural
:

Management (IPM) to minimize products.

pesticide use.
 Integrated Pest Management (IPM): Eco- MODEL SKILL LOAN SCHEME
friendly approach combining alternate pest Recent Update:
control methods with bio-pesticides. The Government of India revised the Model Skill Loan
Scheme to increase access to skill development
t

PRADHAN MANTRI MUDRA YOJANA (PMMY) courses.

Recent Update: About:
A NITI Aayog and KPMG report highlights the impact  Background: CCFSSD was launched in 2015 to
of PMMY on micro and small enterprises (MSMEs). provide institutional credit for skill
About: development aligned with National
 Objective: Provides affordable credit to Occupation Standards.
MSMEs and integrates them into the formal  Objective: Provide access to advanced skill
financial system. courses, bridging financial barriers.
 Key Features:  Loan Amount: Raised from ₹1.5 lakh to ₹7.5
o Loans through Member Lending lakh.
Institutions (MLIs), including banks,  Lending Institutions: Includes NBFCs, MFIs,
NBFCs, and MFIs. and SFBs.
o Credit guarantee through the Credit  Credit Guarantee: 75% guarantee against
Guarantee Fund for Micro Units loan defaults.
(CGFMU).

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  Other assets: As per recent
amendments.
TRANSIT ORIENTED DEVELOPMENT
Recent Update: UN GLOBAL TAX TREATY
The Union Budget 2024-25 proposed a Transit- Recent Update: UN’s Ad Hoc Committee approved a
Oriented Development (TOD) plan for 14 large cities. package of guidance for a UN Global Tax Convention.
About: About:
 Concept: Integrates land use and transport  Aims to establish a fair, inclusive, and
planning to create sustainable urban growth. effective international tax system.

s: /w w .x as .in
o Promotes compact, mixed-use  Developing countries, including India,
development, focusing on pedestrian- supported the treaty, while industrialized
friendly and bicycle-friendly urban nations such as Australia, Israel, Japan, UK,

tp :/ ww w xi s
n
spaces. and USA opposed it.
 Objectives: Strengthening tax cooperation,
ht tps :// ww w. xia
o Encourages public transport

//w w . ia .i
integration with housing, services, addressing tax challenges like digitalization,

w .x ia .in
and amenities around transit stations. mobilizing domestic resources, and
 Focus: Development around transit stations supporting sustainable development goals
ht ps // w w.
(metro/BRTS) within 500-800 meters or along (SDGs).

s
.x s in
corridors. NON-TARIFF MEASURES (NTMS)
ht tps :// ww

Recent Update: India is the 2nd largest user of NTMs

w ia s.
LONG-TERM CAPITAL GAINS (LTCG) & INDEXATION in 2023, as per WTO's 'World Tariff Profiles' report.

ia .in
BENEFIT About:
Recent Update:  NTMs are policy measures other than tariffs
ht tps ://

The Lok Sabha approved the Finance Bill 2024, that can affect international trade in goods.

in
w

x
amending the LTCG tax provisions on immovable  Examples: Quotas, sanitary and
ht tps

properties. phytosanitary measures, technical barriers to

s.
About: trade.
 Amendment Choices:  NTMs can protect public health or the
environment but also increase trade costs.
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o Old regime: 20% LTCG tax with

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indexation benefit on property
:

acquired before July 23, 2024. DEBT-FOR-DEVELOPMENT SWAPS

o New regime: 12.5% LTCG tax without Recent Update: IMF released a framework on Debt
indexation (effective post July 23, for Development Swaps.
2024). About:
 Enhanced Exemption:  Agreements between a government and
o Exemption limit for LTCG on equity creditors to replace sovereign debt with
liabilities tied to specific development goals
t

assets increased to ₹1.25 lakh.

like climate action and education.
o LTCG tax on listed equities, mutual
funds, and business trust units  Types: Bilateral (official debt write-offs) and
increased from 10% to 12.5%. commercial (private creditors).
 LTCG Tax Overview:  Criteria for swaps: Country’s debt situation
and financial benefits.
o Capital gains tax is levied on profits
from the sale of capital assets.
o LTCG tax applies to assets held for WORLD TRADE STATISTICAL REVIEW (WTSR) 2023
longer periods, varying by asset type Recent Update: WTO’s WTSR 2023 features key
(12 months for equities, 24 months global trade data.
for immovable properties, 36 months About:
for gold).  India ranks 8th in global agriculture exports,
o LTCG Tax Rates: 18th in merchandise exports, and 7th in
 Equities and mutual funds: services exports.
12.5% on gains exceeding  China, USA, and Germany are the top three
₹1.25 lakh. merchandise exporters.

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 boards.
GLOBAL EMPLOYMENT TRENDS (GET) FOR YOUTH About:
2024 REPORT  White category industries are non-polluting
Recent Update: The ILO report highlights global youth and include renewable energy projects,
unemployment trends. bicycle assembly, etc.
About:  They need to inform state pollution control
 Youth unemployment rate reached 13% in boards via self-declarations.
2023, the lowest in 15 years.
 20.4% of youth were NEET (Not in CLIMATE RESILIENT AND BIOFORTIFIED VARIETIES OF
Employment, Education, or Training). CROPS RELEASED

s: /w w .x as .in
 Key challenges: Inequalities of opportunity, Recent Update: 109 climate-resilient and biofortified
regional disparities, educational mismatch, crop varieties released by the Prime Minister.

tp :/ ww w xi s
n
and youth well-being concerns. About:
 Developed by ICAR using genomics-assisted
ht tps :// ww w. xia
//w w . ia .i
BANKING LAWS (AMENDMENT) BILL, 2024 selection, phenomics, and conventional

w .x ia .in
Recent Update: The Banking Laws Amendment Bill breeding.
aims to improve bank governance.  Biofortification improves the nutritional
ht ps // w w.
About: quality of crops, such as iron and zinc-rich

s
.x s in
 Proposes amendments to the RBI Act, wheat.
ht tps :// ww

Banking Regulation Act, and other banking  "Lab to land" program connects research with

w ia s.
laws. farmers for better crop varieties.

ia .in
 Key provisions: Increased number of
nominees for depositors, transfer of OPEN MARKET SALE SCHEME (OMSS) (DOMESTIC)
ht tps ://

unclaimed funds to IEPF, increased Recent Update: States can buy rice from FCI without

in
w

x
shareholding thresholds for directorships, e-auction from August 1, 2024.
ht tps

and extended tenure for cooperative bank About:

s.
directors.  OMSS aims to control food grain prices and
curb inflation by offering grains in the open
RBI REVISED NPAS PROVISION NORMS FOR CO- market.
ht

w
OPERATIVE BANKS  Prices are fixed by the Ministry of Consumer
:

Recent Update: New RBI norms aim to bring Affairs, Food & Public Distribution.
uniformity in NPA provisioning for cooperative
banks. NITI AAYOG’S REPORT ON SEAWEED VALUE CHAIN
About:
Recent Update: NITI Aayog releases a report on
 Co-operative banks must recognize provisions seaweed value chain development.
for NPAs as expenses. About:
 The norms apply to urban, state, and central
t

 Seaweed cultivation is part of aquaculture

co-operative banks. and contributes to India’s GDP.
 The report focuses on strategies to enhance
FRONT RUNNING seaweed cultivation and processing for
Recent Update: SEBI issues norms to prevent sustainable growth.
fraudulent front-running transactions.
About: GRAIN ATM
 Front-running involves using non-public Recent Update: India’s first 24/7 'Grain ATM'
information to buy or sell securities ahead of launched in Bhubaneswar.
a substantial order. About:
 It is illegal in India and undermines market  Annapurti Grain ATM provides 24/7 access to
confidence. food grains under the National Food Security
Act (NFSA).
WHITE CATEGORY SECTORS  Features biometric authentication, energy
Recent Update: White category sectors no longer efficiency, and solar panel connectivity.
require prior permission from pollution control

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  It is corrosion-resistant, has a high melting
JAN POSHAN KENDRAS point, and is vital for various industrial
Recent Update: Pilot project to transform 60 Fair applications.
Price Shops into Jan Poshan Kendras launched.
About: SOURCE: INDIAN EXPRESS
 Jan Poshan Kendras will provide nutritious 'RAIL FORCE ONE' - PRIME MINISTER'S TRAIN
food items and additional income for FPS JOURNEY TO KYIV
dealers. Recent Update:
 The pilot project covers Gujarat, Rajasthan, Prime Minister Narendra Modi traveled by train from
Telangana, and Uttar Pradesh. Poland to Kyiv, a unique mode of transport adopted

s: /w w .x as .in
by global leaders since Ukraine’s airspace closure post
BHARATIYA VAYUYAN VIDHEYAK 2024 the Russian invasion in 2022.

tp :/ ww w xi s
n
Recent Update: New bill introduced to replace the 90- About:
 Foreign dignitaries visiting Kyiv use trains due
ht tps :// ww w. xia
year-old Aircraft Act, 1934.

//w w . ia .i
About: to the closure of airspace.

w .x ia .in
 The bill aims to address ambiguities in  The term “Rail Force One” originated after US
aviation laws and improve business ease. President Joe Biden used the train instead of
ht ps // w w.
 Key provisions: Empowerment of DGCA and Air Force One during his Kyiv visit.

s
.x s in
BCAS, and increased powers for the Central  This mode signifies safety and diplomatic
ht tps :// ww

Government in emergencies. adaptability during conflict.

w ia s.
ia .in
QCI SURAJYA RECOGNITION & RANKING EQUIVALENCE ACROSS SCHOOL BOARDS - PARAKH
FRAMEWORK INITIATIVE
ht tps ://

Recent Update: QCI launched the Surajya Recognition Recent Update:

in
w

x PARAKH, under NCERT, submitted its report to the

& Ranking Framework.
ht tps

About: Ministry of Education to ensure academic

s.
 Focuses on recognizing states and equivalence across 69 school boards as outlined in
organizations excelling in quality and NEP 2020.
About:
ht

innovation for a Developed India.

w
 Categorized under four pillars: Education,  PARAKH promotes standardized curriculum,
:

Health, Prosperity, and Governance. examinations, and operational structures

among boards.
LITHIUM RESERVES IN INDIA  Facilitates best practice sharing across boards
like CBSE, ICSE, NIOS, and state boards.
Recent Update: India discovers 1,600 tonnes of
Lithium reserves in Mandya district.  Addresses the perception of certain boards
About: being “better,” ensuring equity in academic
standards nationwide.
t

 Discovery will reduce import dependence and

promote energy storage self-sufficiency.
 Lithium is used in rechargeable batteries for BAILEY BRIDGE - INNOVATIVE RESPONSE TO
EVs and mobile phones and has applications DISASTERS
in alloys and industrial sectors. Recent Update:
The Indian Army built a Bailey bridge in Wayanad to
restore connectivity to Mundakkai village, severely
TANTALUM
affected by landslides.
Recent Update: Tantalum is now a critical and
About:
strategic mineral under Indian law.
About:  A 190-foot modular bridge, capable of
supporting 24 tonnes, ensures the movement
 Tantalum is used in electronic devices,
of heavy machinery and ambulances.
surgical equipment, and aerospace
components.  Designed for quick assembly, it will remain
operational until a permanent structure is
built.

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  Invented during World War II by Donald ELECTRONIC NATIONAL AGRICULTURE MARKET
Coleman Bailey, the design exemplifies (eNAM)
engineering adaptability. Recent Update:
 eNAM launched in 2016 to create an online
CLEAN PLANT PROGRAMME - BOOSTING trading platform for agricultural commodities.
HORTICULTURE About:
Recent Update:  A pan-India platform aiming to create a
The Union Cabinet approved the Clean Plant common online market for agricultural goods.
Programme (CPP), allocating ₹1,765 crore to improve  Managed by Small Farmers Agribusiness
the productivity and quality of horticulture crops.

s: /w w .x as .in
Consortium (SFAC).
About:  Supports the One Nation One Market
 Announced in the 2023 Budget, CPP aims to initiative for agricultural trade.

tp :/ ww w xi s
n
enhance fruit crop quality nationwide.
 Funded jointly by Mission for Integrated
ht tps :// ww w. xia
//w w . ia .i
AGRICULTURE INFRASTRUCTURE FUND (AIF)
Development of Horticulture (MIDH) and
Recent Update:

w .x ia .in
ADB loans.
 Launched in 2020, AIF aims to provide
 Promotes sustainable agriculture and global
ht ps // w w.
medium-to-long-term debt financing for
competitiveness in horticulture.
agricultural infrastructure.

s
.x s in
About:
ht tps :// ww

UNIVERSITY OF SOUTHAMPTON'S CAMPUS IN NCR

 Provides interest subvention for loans up to

w ia s.
Recent Update:

ia .in
₹2 crores for infrastructure projects.
The University of Southampton (UK) will begin its
 Covers APMCs, FPOs, and agri-entrepreneurs.
academic programs in July 2025 in the National
 Duration extended from FY2020 to FY2032.
ht tps ://

Capital Region (NCR), marking it as the third foreign

in
w

x
university to establish a campus in India.  Managed by NABARD with the Ministry of
Agriculture & Farmers’ Welfare.
ht tps

About:

s.
 Ranked 81st in QS Rankings 2024, it will offer
undergraduate and postgraduate courses.
 Supports NEP 2020 recommendations for GLOBAL ENERGY ALLIANCE FOR PEOPLE AND PLANET
ht

w
internationalization of education. (GEAPP)
:

 Joins Deakin University and University of Recent Update:

Wollongong in Gujarat’s GIFT City, alongside  A collaboration involving the IKEA
IIT campuses in Abu Dhabi and Zanzibar. Foundation, Rockefeller Foundation, and
Bezos Earth Fund.
SOURCE: PIB About:
FASAL (FORECASTING AGRICULTURAL OUTPUT  Focuses on clean energy adoption in
t

USING SPACE, AGRO-METEOROLOGY, AND LAND- developing countries.

BASED OBSERVATIONS)  Works on financing the transition away from
Recent Update: fossil fuels.
 Uses advanced technologies to improve crop
production statistics. SOURCE: INSIGHTS MONTHLY
About: RBI KEEPS REPO RATE UNCHANGED
 Aims to forecast crop production using RECENT UPDATE: The Reserve Bank of India (RBI) has
remote sensing, geospatial analysis, and maintained the repo rate unchanged since February
artificial intelligence. 2023, despite stable inflation.
 Nodal Ministry: Ministry of Agriculture & ABOUT:
Farmers’ Welfare.  Repo Rate: The interest rate at which the RBI
 Covers 9 crops including Rice, Wheat, Cotton, lends to commercial banks.
Sugarcane, etc.  Economic Impact: Lower rates encourage
borrowing and spending, while higher rates
curb excessive spending.

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  Monetary Policy: Aims at price stability,  Dairy Sector: Contributes 5% to GDP; employs
targeting 4% inflation while promoting 80 million farmers.
growth.  Rural Livelihood: Provides employment for
 Post-Pandemic Focus: Lower rates stimulated two-thirds of rural households.
borrowing; rising rates controlled inflation  Growth Rate: Achieved a 7.9% CAGR (2014–
from global disruptions. 2021).

LIMITATIONS OF E-COMMERCE IN INDIA BIO-ECONOMY IN INDIA

RECENT UPDATE: Union Commerce Minister Piyush RECENT UPDATE: India’s bio-economy surged to $130
Goyal flagged concerns over social disruptions and

s: /w w .x as .in
billion in 2024, with projections of $300 billion by
predatory pricing in the e-commerce sector, targeting 2030, driving the next Industrial Revolution.
companies like Amazon. ABOUT:

tp :/ ww w xi s
n
ABOUT:  Definition: Focuses on sustainable production
 Definition:
ht tps :// ww w. xia E-commerce involves and transformation of biological resources.

//w w . ia .i
buying/selling goods online, enabling  Market Value: Grew from $8 billion (2014) to

w .x ia .in
seamless transactions. $100 billion (2023).
 Growth Trends: Accounts for 7.8% of retail  Global Rank: India ranks 12th globally and
ht ps // w w.
sales (2022) with a 27% CAGR (2018–2030). 3rd in Asia-Pacific in biotechnology.

s
.x s in
 Concerns: Risks include predatory pricing,  Future Potential: Expected to reach $150
ht tps :// ww

reduced competition, and potential social billion by 2025 and significantly impact GDP

w ia s.
disruptions. growth.

ia .in
 Example: Giants like Amazon dominate e-
commerce.
FULLY ACCESSIBLE ROUTE (FAR)
ht tps ://

in
Recent Update: RBI excluded new 14-year and 30-
w

x
AGRICULTURAL INNOVATION TAKES CENTRE STAGE year G-Secs from the Fully Accessible Route (FAR),
ht tps

IN UNION BUDGET

s.
potentially impacting bond markets.
RECENT UPDATE: The Union Budget allocated ₹1.52 About:
trillion to agriculture, an 8% rise, with special
 FAR allows unrestricted investments by Non-
emphasis on research and climate resilience.
ht

Resident Indians (NRIs) in Government

w
ABOUT: Securities (G-Secs).
:

 Technological Advancements: Modern  Aim: Prevent destabilization caused by large

farming techniques improve productivity. capital flows.
 Seed Development: Enhanced pest- and  Domestic investors expected to absorb supply
climate-resistant seeds boost yields. of excluded tenors.
 Food Security: Innovations increase food
availability.
SOVEREIGN GREEN BOND
t

 Sustainability: Promotes resource

Recent Update: The second sovereign green bond
conservation like soil and water
auction of FY25 saw muted participation, with ₹1,697
management.
crore sold at a 6.90% cut-off rate against a notified
 Job Creation: New technologies create rural ₹6,000 crore.
employment opportunities.
About:
 Purpose: Finance public sector projects to
LIVESTOCK SECTOR IN INDIA reduce the carbon footprint.
RECENT UPDATE: The broiler chicken industry in India  Lack of trader interest for premium pricing
has achieved high vertical integration, reducing costs (greenium) reflects limited demand.
and enhancing efficiency.
ABOUT:
YEN CARRY TRADES
 Livestock Scope: Involves breeding animals
Recent Update: The yen carry trade has gained
for food, dairy, and other products.
attention due to yen appreciation following the Bank
 Economic Contribution: Accounts for 30.1% of Japan's (BoJ) rate hike, impacting global markets.
of agricultural GVA (2020–21).
About:

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  Definition: Strategy of borrowing in low-  Expected to transform lending, akin to UPI in
interest countries and reinvesting in high-yield payments.
assets.
 Japan’s zero-interest policy makes the yen INDIA’S GOLD CONSUMPTION FORECAST
attractive for carry trades. Recent Update: World Gold Council (WGC) revised
India’s gold consumption forecast for 2024 to 850
CONTINUOUS CLEARING OF CHEQUES tonnes, citing favorable monsoons and duty
Recent Update: RBI introduced Continuous Clearing reductions.
of Cheques under the Cheque Truncation System About:
(CTS), enabling same-day clearing.

s: /w w .x as .in
 India is the second-largest consumer of gold
About: globally.
 Enhances efficiency, reduces settlement risk,  Largest resources in Bihar (44%), Rajasthan

tp :/ ww w xi s
n
and improves customer experience. (25%), and Karnataka (21%).

ht tps :// ww w. xia

//w w . ia .i
OVERNIGHT INDEX SWAP (OIS) MARKET PAYMENT PASSKEY SERVICE

w .x ia .in
Recent Update: RBI reviewing investment limits for Recent Update: Mastercard launched the Payment
ht ps // w w.
foreign investors in the OIS market. Passkey Service in India, a secure, non-OTP-based
About: transaction system.

s
.x s in
 OIS helps investors hedge against interest About:
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rate fluctuations.  Uses biometric authentication or PINs instead

w ia s.
 Expected to boost liquidity and price of OTPs.

ia .in
discovery following inclusion in JPMorgan’s  Tokenization ensures secure transactions by
debt index. replacing sensitive data with encrypted
ht tps ://

tokens.

in
w

x
RISE ACCELERATOR
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s.
Recent Update: AIM and Australia’s CSIRO invited HIGH-SPEED ROAD CORRIDOR PROJECTS
applications for the Climate Smart Agritech cohort Recent Update: Approval for eight high-speed road
under the RISE Accelerator program. corridors spanning 936 km to enhance connectivity
ht

and logistics.
w
About:
 Supports start-ups and MSMEs in developing About:
:

climate-resilient agricultural technologies.  Key projects include:

 Offers coaching, market insights, and field o Agra-Gwalior (88 km), Kharagpur-
trials. Moregram (231 km), and Kanpur Ring
Road (47 km).
PERPETUAL BOND o Development through BOT, HAM, or
Recent Update: Canara Bank issued India’s first EPC modes.
t

Additional Tier I perpetual bonds, attracting investor

interest at 8.27% coupon. KASTURI COTTON BHARAT
About: Recent Update: Ministry of Textiles launched Kasturi
 Definition: Bonds with no fixed maturity date, Cotton Bharat, employing QR-based certification and
offering perpetual interest payments. blockchain for traceability.
 Regulatory changes by SEBI have revived About:
investor demand.  Focuses on branding, traceability, and global
competitiveness of Indian cotton.
UNIFIED LENDING INTERFACE (ULI)  Implemented by TEXPROCIL.
Recent Update: RBI piloting the Unified Lending
Interface (ULI) for seamless credit access, especially NITROGEN-USE EFFICIENCY (NUE) IN RICE
for MSMEs and farmers. Recent Update: Study highlights variations in NUE
About: among Indian rice varieties, promoting the
 Integrates data to simplify loan processes and development of cost-efficient and eco-friendly crops.
reduce appraisal times. About:

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  Aims to reduce dependency on imported RISING COSTS FOR SENIOR CITIZENS UNDER
fertilizers and nitrogen-related pollution. AYUSHMAN BHARAT
 Shift focus from yield maximization to RECENT UPDATE:
fertilizer efficiency.  Nearly 57.5 lakh elderly admissions under
PM-JAY led to a 14% expenditure share for
ERI SILK individuals aged 70 and above.
Recent Update: NEHHDC’s Eri Silk achieved the Oeko- ABOUT AYUSHMAN BHARAT TRENDS:
Tex certification, emphasizing eco-friendly  Senior Citizen Burden: Out of 6.2 crore total
production. admissions, 57.5 lakh were aged 70+.

s: /w w .x as .in
About:  Healthcare Costs: Expenditure under the
 World’s only vegan silk, preserving moths scheme has reached ₹79,200 crore over six
during production. years.

tp :/ ww w xi s
n
 Expands global market recognition as an

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Assam GI product. RBI'S 50TH MONETARY POLICY COMMITTEE

//w w . ia .i
 India produces all five major silk types, with MEETING

w .x ia .in
Mulberry silk being cultivated. RECENT UPDATE:
 The repo rate remains unchanged at 6.50%,
ht ps // w w.
SOURCE: DRISHTI MONTHLY reflecting inflation management priorities.

s
.x s in
CSR EXPENDITURE 2023  Celebrated 8 years of the FIT framework.
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RECENT UPDATE: ABOUT POLICY DECISIONS:

w ia s.
 Key Rates: Repo rate at 6.50%, SDF at 6.25%,

ia .in
 Education received the highest CSR share in
FY23 with ₹10,085 crore allocated. and MSF/Bank Rate at 6.75%.
 Total CSR expenditure increased from  Objective: Manage inflation and ensure
ht tps ://

in
economic growth through balanced monetary
w

₹26,579.78 crore in FY22 to ₹29,986.92 crore

x
in FY23. measures.
ht tps

s.
 CSR projects rose from 44,425 to 51,966, with
private sector companies contributing 84% of GST ON HEALTH AND LIFE INSURANCE IN INDIA
the total. RECENT UPDATE:
ht

w
ABOUT CSR EXPENDITURE:  The 18% GST on premiums has sparked
 Uneven Spending: Focus is limited to certain debates over affordability, following
:

sectors and regions, raising concerns about opposition protests.

equitable distribution. ABOUT GST ISSUES:
 Education Priority: Continues to dominate  Affordability Challenge: Rising premiums due
CSR funding due to its wide societal impact. to GST have made insurance less accessible
for many.
RBI HIGHLIGHTS ON DEPOSIT CHALLENGES & HFC  Stakeholder Concerns: Ongoing discussions in
t

LIQUIDITY NORMS Parliament and industry circles.

RECENT UPDATE: SOVEREIGN GOLD BOND SCHEME
 RBI Governor urged banks to develop RECENT UPDATE:
innovative deposit products to match the  Import duty on gold reduced from 15% to 6%
rising credit demand. in Budget 2024-25, with plans to review the
 Tightened liquidity norms for Housing SGB scheme's future.
Finance Companies (HFCs) to strengthen ABOUT SOVEREIGN GOLD BONDS:
financial stability.  Launch: Initiated in 2015 to curb physical gold
ABOUT DEPOSIT AND LIQUIDITY CONCERNS: demand and promote financial savings.
 Credit-Deposit Gap: Credit-deposit ratio at a  Issuance: Managed by RBI under the
20-year high with deposits growing 11.1% vs. Government Securities Act, 2006, sold
credit at 17.4%. through banks, stock exchanges, and post
 Short-Term Reliance: Increased use of short- offices.
term deposits by banks poses liquidity risks.

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 COMMERCIAL CULTIVATION OF HT BASMATI RICE rural women through Self-Help Groups (SHGs).
RECENT UPDATE: ABOUT
 India approved commercial cultivation of non-  Lakhpati Didi: SHG members achieving an
transgenic HT Basmati Rice varieties (Pusa annual household income of ₹1 Lakh or
Basmati 1979 & 1985). more, sustained over multiple business cycles.
ABOUT NEW VARIETIES:  Initiative Goal: Empower rural women,
 Herbicide Tolerance: Contains a mutated ALS improve income, and promote sustainable
gene, enabling weed control without affecting livelihoods.
amino acid synthesis.  Key Focus: Resource management and
 Sustainability: Promotes water conservation entrepreneurship in rural areas.

s: /w w .x as .in
and reduces carbon emissions.
NITI AAYOG’S STRATEGIES FOR GROWTH IN EDIBLE

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n
INDIA TO IMPORT TUR DAL FROM MOZAMBIQUE OILS

ht tps :// ww w. xia RECENT UPDATE

//w w . ia .i
RECENT UPDATE:
NITI Aayog released a report on strategies for self-
 Import of Tur dal resumed from Mozambique

w .x ia .in
sufficiency in edible oils, addressing the demand-
after disruptions caused by an "anti-India"
supply gap and boosting domestic production.
ht ps // w w.
group.
ABOUT
ABOUT PULSE IMPORTS:

s
.x s in
 Oilseed Production: Major crops like
 Record Imports: India imported 4.65 million
soybean, rapeseed, and groundnut cover
ht tps :// ww

metric tons of pulses in FY23-24, the highest

w ia s.
14.3% of the cropped area.
since 2018-19.

ia .in
 Self-Sufficiency Goal: Aiming to reduce
 Key Suppliers: Mozambique provided 2.64
import dependence and enhance domestic
lakh tons (one-third of Tur imports), with
ht tps ://

edible oil production.

Malawi also being a major supplier.

in
w

x  Current Share: Soybean contributes 34% to

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total oilseed production.

s.
RBI’S FIVE STRATEGIC PRIORITIES FOR INDIA’S
FINANCIAL FUTURE
CRYPTOCURRENCY AND BLOCKCHAIN
RECENT UPDATE
RECENT UPDATE
ht

At the Global Fintech Festival 2024, RBI Governor

w
Former US President Donald Trump expressed
Shaktikanta Das outlined five strategic priorities to
:

support for Bitcoin, amidst a global shift towards

enhance India’s financial sector, aiming to position
decentralised financial systems.
India as a global leader.
ABOUT
ABOUT
 Cryptocurrency: A decentralised digital
 Financial Inclusion: Progress seen with the
currency using cryptography for secure
Financial Inclusion Index rising from 53.9 to
transactions.
64.2.
 Blockchain: A decentralised ledger that
t

 Enhancing Digital Public Infrastructure (DPI):

records transactions across a network,
Key to integrating advanced technologies into
ensuring security and transparency.
India’s financial system.
 Key Technologies: Bitcoin, Ethereum, and
 Strengthening Cybersecurity: Safeguarding
Ripple use blockchain for secure financial
the digital financial ecosystem.
transactions.
 Promoting Sustainable Finance: Initiatives
like sovereign green bonds and green
deposits to encourage sustainability. SHORTAGE OF NATURAL RUBBER IN INDIA
 Reinforcing Financial Infrastructure: Focus on RECENT UPDATE
cross-border payments and making UPI and India faces a significant shortage of natural rubber
RuPay global. (NR), with production falling short by approximately
5.5 lakh tonnes compared to demand.
ABOUT
LAKHPATI DIDI
 Demand-Supply Gap: NR consumption
RECENT UPDATE exceeds production, with about 70% used by
Prime Minister participated in the Lakhpati Didi the tyre industry.
Sammelan in Maharashtra, focusing on empowering

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  Import Dependence: India relies on imports  Bharatmala Pariyojana is an umbrella
from Vietnam and Indonesia to meet programme launched in 2017 under the
demand. Ministry of Road Transport and Highways.
 Impact: Small and micro enterprises suffer  The project has been integrated into the PM
due to rising NR prices. Gati-Shakti Plan to enhance connectivity and
logistics efficiency.
CROSS-BORDER PAYMENTS
RECENT UPDATE JAN POSHAN KENDRAS
The Financial Stability Board (FSB) highlights the need Recent Update
to address inefficiencies in cross-border payments The Indian government has launched a pilot project to

s: /w w .x as .in
(CBPs), anticipating a surge in the market by 2032. rename and transform 60 Fair Price Shops (FPS)
ABOUT across Gujarat, Rajasthan, Telangana, and Uttar

tp :/ ww w xi s
 Cross-Border Payments (CBPs): Transactions Pradesh into “Jan Poshan Kendras” to improve the

n
between individuals or businesses across nutritional offerings under the Pradhan Mantri Garib
ht tps :// ww w. xia
//w w . ia .i
different countries, crucial for international Kalyan Anna Yojana (PMGKAY).
About

w .x ia .in
trade and investment.
 Types:  Purpose: FPSs will now sell additional items
ht ps // w w.
o Wholesale Payments: For financial beyond subsidized grains to improve the

s
.x s in
institutions, governments, and large nutritional offerings for beneficiaries.
corporations.  The government aims to convert around
ht tps :// ww

w ia s.
o Retail Payments: Involve individuals 100,000 FPSs into “nutri-hubs” in the next

ia .in
and businesses, e.g., remittances. three years.
 Focus: Improving efficiency and reducing
ht tps ://

costs in CBP systems globally. FUNDAMENTAL PRINCIPLES AND RIGHTS AT WORK

in
w

x (FPRW) PROJECT
ht tps

REVAMPING CROP DATA COLLECTION BY E- Recent Update

s.
TECHNOLOGY The Confederation of Indian Textile Industry (CITI)
and the International Labour Organisation (ILO) have
RECENT UPDATE
jointly launched the FPRW Project, aimed at raising
The Union government pushes for the adoption of
ht

w
awareness and providing technical knowledge on
Digital General Crop Estimation Survey (DGCES) and
labour standards.
:

other digital initiatives to enhance agricultural data

About
accuracy.
ABOUT  The FPRW Project is a commitment by
governments, employers, and workers’
 DGCES: Uses mobile apps and web portals to
organizations to uphold basic human values
assess crop yields and improve farming
essential for economic and social well-being.
practices.
 The ILO Declaration on Fundamental
 Key Features: GPS-enabled photo capture,
t

Principles and Rights at Work (1998) has

automated plot selection, and geo-
been amended in 2022, expanding the
referencing for accurate data.
categories to include occupational safety and
 Purpose: Enhance transparency, reliability,
health conventions.
and support policy formulation in agriculture.

STATE OF POULTRY INDUSTRY IN INDIA

BHARATMALA PARIYOJANA
Recent Update
Recent Update The broiler chicken industry in India has evolved from
Nearly 50% of the Bharatmala Pariyojana Phase-I has traditional small-scale farming to a highly organized
been completed as of 31st March 2024 and is
and vertically integrated agribusiness, enabling
expected to be completed by 2027-28. The Ministry of smallholders to significantly increase productivity and
Road Transport and Highways' Vision 2047 focuses profitability.
on providing high-speed corridors for citizens and About
improving passenger convenience.
 Broiler Chickens: Specifically bred for meat
About
production, they grow rapidly (4-6 weeks) and
have a high meat-to-bone ratio.

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 SOURCE: THE HINDU
www.xias.in  Focus on Tier-2 (50,000–1 lakh population)

CORPORATE EXIT)
www.xias.in
C-PACE (CENTRE FOR PROCESSING ACCELERATED

Recent Update: Established under the Companies Act




and Tier-3 cities (below 50,000).

Coverage: 459 Tier-2 cities, 580 Tier-3 cities.

Funding Source: Priority sector lending (PSL)

companies.
About:
www.xias.in
2013 to centralize the process of striking off inactive


shortfall.

Interest rate: Bank Rate minus 1.5.



www.xias.in 
Aims to streamline voluntary winding-up of Nodal Agency: Respective State Finance
companies. Departments.
 Time frame for process: under 6 months. ‘TAX DRAG’ AND ‘MARGINAL TAX RATE’



(RoC). www.xias.in
Operates through Registrar of Companies

Supervised by Director General of Corporate

Recent Update: Explores how taxes reduce potential
income, with a focus on higher marginal tax rates.
About:


Affairs (DGCoA).
www.xias.in
Nodal Ministry: Ministry of Corporate Affairs
(MCA).



Tax Drag: Reduction in potential income due
to taxes.

Increases with marginal tax rate and


Affairs, Gurgaon. www.xias.in
Headquarters: Indian Institute of Corporate

investment horizon.

A higher pre-tax return results in a larger tax

drag.
ATMA NIRBHAR CLEAN PLANT PROGRAMME

www.xias.in
Recent Update: Announced in Budget 2023-24 as part
of the Mission for Integrated Development of
HIGH-RISK FOOD CATEGORY

Recent Update: FSSAI includes packaged drinking

Horticulture (MIDH). water and mineral water in the high-risk food
About:


www.xias.in
Goal: Provide virus-free planting materials for
category.
About:
horticulture.  High-risk foods require stringent safety

www.xias.in
Focus on enhancing crop yields and
promoting climate-resilient plant varieties. 
protocols.

Mandatory risk-based inspections under

FSSAI.


www.xias.in
Implemented from 2024 to 2030, with 50%
financial assistance from the Asian
Development Bank (ADB).
 Includes products like dairy, meat, seafood,
and eggs.

www.xias.in
 Nodal Ministry: Ministry of Agriculture and  Regulated under Food Safety and Standards
Farmers Welfare. Act, 2006.
 Implementation Bodies: National Horticulture WINDFALL TAX

www.xias.in
Board (NHB) & Indian Council of Agricultural
Research (ICAR). Recent Update: India abolished windfall tax on crude
oil and fuel exports in recent changes.
URBAN INFRASTRUCTURE DEVELOPMENT FUND About:
(UIDF)

www.xias.in
Recent Update: Announced in Union Budget 2023-24
to enhance urban infrastructure in smaller cities.



Imposed on industries with above-average
profits due to favorable conditions.

Common industries: Oil, gas, mining.

About:

 www.xias.in
Operated by National Housing Bank (NHB)
with ₹10,000 crore outlay.
 First implemented on 1st July 2022 in India.

www.xias.in
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 
www.xias.in
Tax rates reassessed bi-weekly based on FCNR(B) ACCOUNT
international prices.

GHARCHOLA SAREE www.xias.in

Recent Update: Gharchola saree from Gujarat
Recent Update: FCNR(B) accounts allow NRIs to hold
fixed deposits in foreign currencies in India.
About:


www.xias.in
receives Geographical Indication (GI) tag.
About:

Known for bandhani work on cotton/silk




Tax-free income from principal and interest.

Fixed deposits can be made in any foreign

currency.


fabric.
www.xias.in
Traditional use: Gujarati weddings.



Tenure: 1 to 5 years.

Provides protection against currency




www.xias.in
Features checkered patterns with golden
motifs like peacocks and floral designs.

Bar Bagh: 12 squares; Bavan Bagh: 52

fluctuations.

SECURED OVERNIGHT RUPEE RATE (SORR)

Recent Update: Introduced by RBI as a new

www.xias.in
squares.
benchmark for overnight lending rates.
BHARATIYA VAYUYAN VIDHEYAK (BVV), 2024 About:

Recent Update: The President granted assent to  Replaces MIBOR with a more secure and

legislation.
About:
www.xias.in
replace the Aircraft Act, 1934 with this modernized


liquid instrument.

Based on secured lending using government

securities.



AAIB. www.xias.in
Establishes key authorities: DGCA, BCAS,

Empowers DGCA to regulate aircraft

 Reflects true cost of borrowing and aligns
with global best practices.

INDIA INTERNET GOVERNANCE FORUM (2024)

 www.xias.in
manufacture, repair, and design.

Transfers RTR certifications from DoT to

DGCA.
Recent Update: The 4th edition of IIGF held in New
Delhi with the theme “Innovating Internet
Governance for India”.

disputes near airports. www.xias.in
Allows arbitration for land acquisition About:

 Established in 2021, IIGF is India’s version of

INTERNATIONAL ADVISORY BODY FOR SUBMARINE the UN Internet Governance Forum.
CABLE RESILIENCE
www.xias.in
Recent Update: Launched jointly by ITU and ICPC to
improve submarine cable resilience.



Supported by: MeitY and NIXI.

It fosters multi-stakeholder dialogue on public

About:


www.xias.in
Composed of 40 members, including India via
DoT and Tata Communications.
policy issues related to the Internet.

INDIA SKILLS REPORT 2025

Recent Update: The India Skills Report 2025 was


www.xias.in
Focus: Promoting best practices, reducing
damage risks, and providing strategic
guidance.
published by Wheebox in collaboration with AICTE,
CII, and AIU, showcasing improvements in
employability.

www.xias.in
About:
 Co-chaired by Nigeria and Portugal.
 Released based on a Global Employability
 Meets at least twice a year. Test (GET).

www.xias.in  Assesses employability of Indian youth and

tracks emerging skill trends.

www.xias.in
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 
www.xias.in
Highlights India's potential as a global talent  Aims to enhance awareness of India’s


hub.
www.xias.in
Employability rate: 54.81% in 2025 (increase
from 51.25% in 2024).
significant contributions to global trade.

SMILE PROGRAMME

Recent Update: India and the Asian Development


market.

JALVAHAK SCHEME
www.xias.in
Aims to bridge skill gaps in a dynamic job Bank (ADB) signed the $350 million SMILE
Programme to enhance the logistics ecosystem.
About:

www.xias.in
Recent Update: The Jalvahak Scheme incentivizes
long-haul cargo movement through India’s national
waterways.



SMILE stands for Strengthening Multimodal
and Integrated Logistics Ecosystem.

Focuses on policy reforms in the logistics

About:


www.xias.in
Aims for 800 million tonne-kilometres of
cargo movement by 2027.

sector.

Encourages private sector participation in

multimodal logistics projects.


www.xias.in
Offers up to 35% reimbursement on
operating costs.
 Aims to improve efficiency in external trade
logistics.

 Valid for 3 years, covering NW-1 (River KASHMIRI PAPIER-MÂCHÉ

16 (River Barak). www.xias.in

Ganga), NW-2 (River Brahmaputra), and NW-
Recent Update: Kashmiri Papier-mâché received a
Geographical Indication (GI) tag.
 Launched by MoPSW, implemented by IWAI About:
and ICSL.

VIRAASAT
www.xias.in  Traditional craft introduced by Mir Sayyid Ali
Hamadani.

celebrate India’s handloom heritage.

About:
www.xias.in
Recent Update: The 3rd edition of the VIRAASAT
Saree Festival was held in December 2024 to



Known for intricate designs and vibrant
colors.

Main products: vases, bowls, boxes, trays,


www.xias.in
An annual event organized by NHDC under
the Ministry of Textiles.

and lamp bases.

Features floral motifs and cultural themes.

YOUTH CO:LAB (2024-25)




www.xias.in
Promotes handloom traditions and provides
market access for artisans.

Features sarees like Kancheepuram, Patola,

Recent Update: The 7th edition of the Youth Co:Lab
National Innovation Challenge was launched to
empower young innovators.

www.xias.in
Banarasi Brocade, and Pashmina.
About:
 Showcases India’s rich saree heritage.
 Co-created by UNDP and Citi Foundation in
INDIA MARITIME HERITAGE CONCLAVE (IMHC) 2024 2017.

celebrated India’s maritime legacy.

About:
www.xias.in
Recent Update: The 1st IMHC, organized by MoPSW,  Launched in India in 2019 in collaboration
with NITI Aayog.

www.xias.in
Focuses on youth entrepreneurship and
 Theme: "Understanding India’s Position in social innovation for the SDGs.
Global Maritime History."
 The 2024-2025 challenge targets


www.xias.in
Participation from 11 countries, including entrepreneurs with disabilities.
Greece, Italy, and UK.

www.xias.in
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 WEALTH TAX
www.xias.in  Optimizes Public Distribution System (PDS)

www.xias.in
Recent Update: Wealth Tax, introduced under the
Wealth Tax Act, 1957, was abolished in 2015.
About:

supply chains.

Developed by the Department of Food Public

Distribution with WFP and IIT-Delhi.


gold, and luxury items. www.xias.in
A levy on net wealth, including real estate,

Initially imposed a 1% tax on earnings above




Uses advanced algorithms to find optimal
routes.

Integrated with FOIS and ULIP for smooth


₹30 lakh.
www.xias.in
Replaced by an increased surcharge on the
super-rich.
logistics.

SCAN PORTAL


www.xias.in
Abolished due to administrative costs and
litigation.
Recent Update: SCAN Portal streamlines subsidy
claims under NFSA for faster approval.
About:

www.xias.in
NATIONAL RAINFED AREA AUTHORITY (NRAA) Single window for states to submit subsidy
claims.
Recent Update: The NRAA promotes sustainable
agriculture in rainfed regions across India.  Expedites the settlement process.
About:

 www.xias.in
Established in 2006 as an advisory body under
Ministry of Agriculture.
 Automates end-to-end workflow with rule-
based processing.

YUVA SAHAKAR SCHEME




www.xias.in
Focuses on sustainable rainfed agriculture
and improving farmer livelihoods.

Chaired by the Union Agriculture Minister.

Recent Update: The Yuva Sahakar Scheme offers
long-term loans and subsidies to support youth-led
cooperatives.

 Headquarters: New Delhi.

www.xias.in
‘FREE-AI’ COMMITTEE
About:

 Launched in 2018 under the Ministry of

Agriculture.

www.xias.in
Recent Update: The RBI formed a panel to create a
framework for ethical AI in the financial sector.
About:



Provides 2% interest subvention on loans.

Focus on cooperatives led by youth, women,

and marginalized communities.


 www.xias.in
Headed by Pushpak Bhattacharyya.

Includes representatives from NITI Aayog, IIT

Madras, HDFC Bank, Microsoft.
 Linked to Rs.1000 crore Cooperative Start-up
Fund.


www.xias.in
Focuses on AI adoption in financial services
and global regulatory approaches.

Report due within 6 months.

SAMARTH UDYOG BHARAT 4.0 INITIATIVE

Recent Update: The SAMARTH Udyog Bharat 4.0

initiative supports the transition to Industry 4.0

SOURCE: PIB
www.xias.in technologies.
About:

 Launched under the Ministry of Heavy

www.xias.in
ANNA CHAKRA TOOL Industry.

Recent Update: The Anna Chakra Tool enhances PDS  Aims for Industry 4.0 adoption in Indian
logistics with advanced algorithms and is integrated manufacturing by 2025.

www.xias.in
with FOIS.
 Focuses on manufacturers, vendors, and
About:
customers.

www.xias.in
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 
www.xias.in
Includes SAMARTH Centres but no financial  Economic Impact: MSMEs are crucial for GDP
assistance for MSMEs.
www.xias.in
NATIONAL DIGITAL COMMUNICATION POLICY, 2018
& KEY ACHIEVEMENTS (2018–2024)

growth, job creation, and entrepreneurship.

Schemes for MSMEs: PMEGP, CGTMSE,

CLCSS, PMMY, and SMILE offer financial

www.xias.in
Recent Update: Major infrastructure expansion and
enhanced connectivity through 2024, contributing to
India’s digital growth.
support and subsidies.

PUBLIC SECTOR BANKS - A RESURGENT FORCE

Recent Update: Public sector banks show remarkable

www.xias.in
About:
growth with improved financial health and inclusion.
 Infrastructure Expansion: Optical Fiber Cable About:
network increased to 41.9 lakh km, Base
 Financial Performance: Record net profits of

www.xias.in
Transceiver Stations to 29.4 lakh.
₹1.41 lakh crore in FY 2023-24 and ₹85,520
 Broadband & Mobile Connectivity: Increased crore in H1 2024-25.
mobile and broadband subscribers, with
 Resilience: Reduced GNPA ratio to 3.12% and
significant reduction in data tariffs.

 www.xias.in
Digital Bharat Nidhi: Investment of ₹1.39 lakh
crore to expand BharatNet, covering 2.64

strong capital strength (CRAR of 15.43%).

Financial Inclusion: 54 crore Jan Dhan

accounts and 52 crore collateral-free loans.
lakh Gram Panchayats.

 www.xias.in
Satellite Communication: Reforms to
encourage private sector participation and
1,60,501 bank branches, with 1,00,686 in
rural and semi-urban areas.

INDIA’S FDI JOURNEY HITS $1 TRILLION

expanded satellite coverage to 5,474 Gram
Panchayats.
www.xias.in
INDIA’S RURAL CONNECTIVITY REVOLUTION
Recent Update: India has achieved significant
progress, becoming a global investment hub with
reforms that attract foreign investment.

enabling rural entrepreneurship.

About:
www.xias.in
Recent Update: Rural India sees transformative
changes due to enhanced mobile connectivity,
About:

 Global Competitiveness: Improved rankings in

World Competitive Index and Global


www.xias.in
Transformative Impact: Digital platforms like
GeM help expand markets for rural
entrepreneurs, e.g., Reena Kirar’s self-help

Innovation Index.

FDI Growth: India ranks third for greenfield

projects, second for international project

www.xias.in
finance deals.
group.
 Policy Reforms: 100% FDI allowed in most
 Achievements: 6.22 lakh villages with mobile
sectors, abolition of angel tax, and reduced
coverage, 1,136 PVTG habitations with

www.xias.in
foreign company income tax.
mobile connectivity.
 Initiatives: "Make in India" campaign, GST
 Key Initiatives: Digital Bharat Nidhi, 8,730
implementation, and sectoral liberalisation
mobile towers, 1.99 lakh villages covered
drive increased FDI.
under Bharat Broadband.

THE MSME REVOLUTIONwww.xias.in EXPORT OF ORGANIC PRODUCTS

Recent Update: In 2023-24, India exported 261,029

Recent Update: MSMEs contribute significantly to

systems for growth.

About:
www.xias.in
India’s exports and economy, with enhanced support
MT of organic products, valued at USD 494.80 million.
About:

 Exports:460,320 MT in 2021-22; 312,800 MT


www.xias.in
Exports: MSME exports increased from ₹3.95
lakh crore to ₹12.39 lakh crore (2020-2025).
in 2022-23.

www.xias.in
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 
www.xias.in
APEDA Role: Provides financial assistance for  Scope: Provides financial incentives for chip


development.
www.xias.in
infrastructure, quality, and market

NPOP: Implements organic production 

design, System on Chips (SoCs), Integrated
Circuits (ICs), etc.

Key Components:

 www.xias.in
standards and promotes organic farming.

Certification: Covers producers, processors,

and traders.
o Chip Design Infrastructure Support:
Advanced design tools and post-
silicon validation.

www.xias.in
LIGHTHOUSE TOURISM IN INDIA

Recent Update: India's coastline has 204 lighthouses

being transformed into tourist hubs under the
o

o
Product Design Incentive: Up to 50%
reimbursement of eligible costs.

Deployment Linked Incentive:

Maritime India Vision 2030.
About:


www.xias.in
Historical Significance: Lighthouses now 
Incentives on net sales turnover over
five years.

Duration: Initially three years, extendable.


development. www.xias.in
blend maritime history with economic

Tourism Features:Scenic beauty and

 Nodal Agency: Centre for Development of
Advanced Computing (C-DAC).

DE-DOLLARISATION

 www.xias.in
maritime history are key attractions.

Economic Impact: Boosts local economies,

generates employment.
Recent Update: RBI Governor Shaktikanta Das
confirmed India is not pursuing de-dollarisation,
despite BRICS talks on a common currency.

www.xias.in About:

 Definition: Reducing reliance on the U.S.

dollar for trade and reserves.

www.xias.in  Global Context: Countries like Russia and

China exploring alternatives to the dollar.

www.xias.in  India's Actions:

o Bilateral local currency trade

agreements.

www.xias.in o

o
Diversification of Forex reserves,
including gold.

Steps to internationalize the Indian

www.xias.in
SOURCE: INDIAN EXPRESS
DESIGN LINKED INCENTIVE (DLI) SCHEME

Recent Update: India's first indigenously designed

 Impacts:
Rupee (INR).

www.xias.in
3GPP compliant modem SoC, developed under the DLI o Global: Weakens U.S. dollar
scheme, faces production challenges despite dominance, leading to possible
substantial funding. geopolitical shifts.
About:

www.xias.in
o India: Reduces risk from dollar
 Objective: Supports growth in semiconductor volatility and strengthens trade
design for startups, MSMEs, and domestic diversification.
companies.

www.xias.in
www.xias.in
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 MULEHUNTER.AI
www.xias.in  Launched: November 2015.

www.xias.in
Recent Update: The RBI launched MuleHunter.AI to
combat rising digital fraud by detecting mule bank
accounts in real-time.



What it is: Government-backed debt security,
offering an alternative to physical gold.

Eligibility: Indian residents, including

About:

 www.xias.in
Definition: AI-driven tool to identify mule
accounts used in financial fraud.

individuals, HUFs, trusts, and charitable
institutions.

Investment Limits:



(Bengaluru).

Features:
www.xias.in
Developed by: RBI Innovation Hub
o

o
Minimum: 1 gram of gold.

Maximum: 4 kg for individuals, 20 kg

o
accounts. www.xias.in
Real-time detection of mule

for trusts.

Benefits:

o 2.5% annual interest.

www.xias.in
o Collaborates with banks for enhanced
fraud detection. o No theft or purity risks.
o Uses AI and machine learning for o Exemption from capital gains tax on
monitoring.

www.xias.in
redemption.
BIMA SAKHI YOJANA MONETARY AND FISCAL POLICY
Recent Update: The Prime Minister launched Bima Recent Update: A report highlighted the role of

insurance sector opportunities.

About:
www.xias.in
Sakhi Yojana in Haryana to empower women through monetary policy in the current demand slowdown,
with differing views between the Finance Ministry
and RBI.
About:



www.xias.in
Launched by: Life Insurance Corporation of
India (LIC).

Aim: To economically empower women by

 Fiscal Policy:

o Uses taxation, spending, and

 www.xias.in
training them as LIC agents.

Eligibility: Women aged 18-70, minimum

Class X pass.
o
borrowing to influence the economy.

Tools: Taxation, Government

Spending, Borrowing, Subsidies, and
 Key Features:

o
www.xias.in
Training with stipend for first 3 years.

Welfare Transfers.

Monetary Policy:

o Regulates money supply and interest

o

o
www.xias.in
Employment as LIC agents with
opportunities for growth.

Promotes financial inclusion and

o
rates to stabilize the economy.

Tools: Open Market Operations, Cash

Reserve Ratio, Repo Rates, Bank

 www.xias.in
women’s economic independence.

Significance: Supports India’s goal for

women-led economic growth by 2047.
Rate, and Quantitative Easing.

APICULTURE

www.xias.in
SOVEREIGN GOLD BOND SCHEME

Recent Update: The Indian government considers

discontinuing the Sovereign Gold Bond (SGB) Scheme
Recent Update: Migratory beekeeping in Assam
thrives as beekeepers from neighboring states aid
mustard pollination and honey production.
About:
due to rising financing costs.
About: www.xias.in  Definition: Beekeeping for honey, beeswax,
and pollination.

www.xias.in
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  Types of Bees:
www.xias.in
o

o
High yield. www.xias.in
Apis mellifera (European Honeybee):

Apis dorsata (Rock Bee): Large

o
honeycombs.
www.xias.in
Apis cerana (Asian Honeybee):
Suitable for small farms.

o
www.xias.in
Trigona (Stingless Bee): Medicinal
honey.
SUGAR PRODUCTION
 Impact on Agriculture:

o www.xias.in
Improves crop yield and quality
through enhanced pollination.
Recent Update: India’s sugar production is down by
12% this season due to erratic monsoon and warm
winter temperatures.
o

o
health. www.xias.in
Supports biodiversity and ecosystem

Provides economic benefits for

About:

 Global Ranking: India ranks second in sugar

production, behind Brazil.

www.xias.in
beekeepers and farmers.
 Climatic Requirements: Needs
tropical/subtropical climates, 75-150 cm
rainfall, and temperatures between 20°C–

www.xias.in 
40°C.

Sugarcane Characteristics: Requires fertile

loamy soil and high water demand.

www.xias.in  Uses: Sugar, ethanol, and fodder.

OPERATION GREENS SCHEME

COCONUT OIL
www.xias.in Recent Update: The government’s Operation Greens
scheme has spent only 34% of its allocated budget for
FY 2024-25, according to a parliamentary report.

www.xias.in
About:
Recent Update: The Supreme Court ruled that
 What it is: A scheme to stabilize crop prices
coconut oil, unless marketed as hair oil, is taxed as
and benefit farmers under the PM Kisan
edible oil under GST.
SAMPADA Yojana.
About:

 www.xias.in
Dispute: Coconut oil packaging confusion
between edible oil and hair oil tax
 Launched: November 2018, with ₹500 crore
initial outlay.


classifications.
www.xias.in
Supreme Court Verdict: Small-sized coconut
oil is classified as edible oil (5% GST) unless
 Objectives:

o Enhance farmers’ income and reduce

price volatility.

 www.xias.in
explicitly labeled as hair oil (18% GST).

Global Context: India, especially Kerala, is a

leading producer of coconuts and coconut oil.
o Minimize post-harvest losses and
create farm-to-market linkages.

 Ministry: Ministry of Food Processing

www.xias.in Industries (MoFPI).

www.xias.in
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 www.xias.in
SOURCE: VISION MONTHLY SFBS TO EXTEND CREDIT LINE THROUGH UPI

www.xias.in
55TH GST COUNCIL MEETING

Recent Update: The 55th Goods and Services Tax

(GST) Council meeting was held in Jaisalmer,
Recent Update: RBI permits Small Finance Banks
(SFBs) to extend pre-sanctioned credit lines via
Unified Payment Interface (UPI).

rates and trade facilitation.

About:
www.xias.in
Rajasthan, resulting in significant decisions on tax About:

 This allows pre-sanctioned credit lines to be

used for transactions using UPI, enhancing


www.xias.in
GST Exemptions on gene therapy and financial inclusion.
contributions by general insurance companies
 SFBs aim to provide savings and credit to
from third-party motor vehicle premiums.
unserved and underserved populations.


www.xias.in
Reduction of GST rate on Fortified Rice Kernel
UNIFIED PAYMENTS INTERFACE (UPI) LITE
(FRK) to 5%.
Recent Update: RBI increased the transaction limit for
 Pepper and raisins supplied by agriculturists
UPI Lite from ₹500 to ₹1,000 and raised the offline
are GST-exempt.


18% GST.
www.xias.in
Popcorn with sugar (e.g., caramel) will attract
transaction limit to ₹5,000.
About:

 UPI Lite enables low-value transactions

www.xias.in
ALL-INDIA HOUSE PRICE INDEX (HPI)

Recent Update: The Reserve Bank of India released

the quarterly House Price Index (HPI) showing a 4.3%

without using the bank’s core systems.

Escrow mechanism: Banks can create escrow

limits on customer accounts for UPI Lite
increase in quarter 2 of 2024-25.
About:


www.xias.in
HPI increased by 4.3% YoY in Q2 2024-25,
transactions.

INDEX OF EIGHT CORE INDUSTRIES (ICI)

Recent Update: The Index of Eight Core Industries

 www.xias.in
compared to 3.3% in the previous quarter.

Bengaluru saw highest growth at 8.8%, while

Kanpur saw a decline of -2.0%.
(ICI) increased by 3.1% in October 2024 compared to
the previous year.
About:


major cities. www.xias.in
Data Source: Transaction-level data from 10

CONSUMER CONFIDENCE SURVEY (CCS)

 Measures production of eight core industries:
Coal, Crude Oil, Natural Gas, Refinery
Products, Fertilizers, Steel, Cement, and

www.xias.in
Electricity.
Recent Update: The latest RBI survey shows
 The ICI contributes to 40.27% of the Index of
weakened consumer confidence in India’s economy,
Industrial Production (IIP).
employment, and spending.
About:


www.xias.in
CCS gauges optimism or pessimism about the
economy and personal finances.

 Indexes:

o
www.xias.in
Current Situation Index (CSI): Reflects
the consumer’s sentiment about the

o
www.xias.in
economy, employment, and prices.

Future Expectation Index (FEI):

Measures expectations about the

www.xias.in
economy, employment, and prices.

www.xias.in
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 www.xias.in  Global wage growth recovered in 2023.

www.xias.in 


Wage inequality is declining globally but is
still highest in low-income countries.

Informal economy: Women and workers in

www.xias.in informal employment are disproportionately

low-paid.

ATMANIRBHAR CLEAN PLANT PROGRAMME (CPP)

www.xias.in Recent Update: India signed a $98 million loan

agreement with the Asian Development Bank (ADB)
to develop the Clean Plant Programme for

www.xias.in horticulture.
About:

 Focus on providing virus-free, high-quality

DEBT REPORT (IDR) 2024 www.xias.in

WORLD BANK RELEASED ANNUAL INTERNATIONAL

planting material to increase crop yields.

9 Clean Plant Centers (CPCs) will be

established with advanced diagnostic and

www.xias.in
Recent Update: The IDR shows a 2.4% rise in the
tissue culture labs.
external debt of low- and middle-income countries
(LMICs), reaching $8.8 trillion.  Implemented by the Ministry of Agriculture
About: and Farmers Welfare from 2024-30.


www.xias.in
Key drivers: High interest rates, inflation, and
economic uncertainty.
RBI INCREASES LIMIT FOR COLLATERAL-FREE
AGRICULTURAL LOAN

 Impact: Rising debt strains budgets, affecting Recent Update: RBI raised the collateral-free

environment. www.xias.in
sectors like health, education, and agricultural loan limit to ₹2 lakh.
About:


 The UN proposes global financial reforms to Enhances financial access for small and

www.xias.in
avoid a debt crisis and ensure inclusive
financing.

TAX JUSTICE NETWORK RELEASED ‘STATE OF TAX


marginal farmers.

Aims to simplify the loan disbursement

process, promoting financial inclusion.
JUSTICE 2024’ REPORT
www.xias.in
Recent Update: The report shows that countries lose
$492 billion annually to global tax abuse.
CREDIT GUARANTEE SCHEME FOR E-NWR BASED
PLEDGE FINANCING (CGS-NPF)

www.xias.in
Recent Update: The Credit Guarantee Scheme for e-
About:
NWR-based financing was launched, allowing farmers
 Two-thirds of the losses are from to avail loans against commodities in accredited
multinational corporations shifting profits warehouses.


offshore.
www.xias.in
Policy recommendation: Adopt a UN tax
convention to combat cross-border tax
About:

 The scheme guarantees 85% coverage for

loans up to ₹3 lakh for small farmers.
evasion.
www.xias.in
GLOBAL WAGE REPORT RELEASED BY ILO
 Targets small farmers, women, and
SC/ST/PwD groups.

Recent Update: ILO’s 2024-25 Global Wage Report KISAN PEHCHAN PATRA

About: www.xias.in
highlights wage trends and inequality globally.
Recent Update: The Centre advised states to adopt a
camp-mode approach for efficient farmer

www.xias.in
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 registration.
www.xias.in  Prohibits non-Indian vessels from engaging in
About:

 www.xias.in
Aadhaar-linked unique digital identity for
farmers, integrated with state land records.

coastal trade without a license.

Focus on promoting coastal shipping by

developing a national database for


www.xias.in
Forms part of Agri Stack, which includes the
Farmers' Registry and Crop Sown Registry.

INITIATIVE FOR RESHAPING SUPPLY CHAINS OF

transparency.

NETWORK READINESS INDEX (NRI) 2024

Recent Update: India ranked 49th in the 2024 NRI,

www.xias.in
FASHION AND CONSTRUCTION SECTORS

Recent Update: India joined 7 other countries in

launching an initiative to reshape supply chains in
climbing 11 ranks from last year.
About:

 NRI 2024 maps the readiness of 133

fashion and construction industries.
About:


www.xias.in
Funded by Global Environment Facility (GEF) 
economies across four pillars: Technology,
People, Governance, and Impact.

The theme for 2024 is “Building a Digital

 www.xias.in
to reduce environmental impacts.

Focus on resource-efficient production and

the replacement of non-renewable materials.
Tomorrow”.

FIRST EVER AUCTION OF MINERALS IN OFFSHORE

AREAS

www.xias.in
NATIONAL LEGAL METROLOGY PORTAL (EMAAP)

Recent Update: The eMaap initiative is being

Recent Update: The Ministry of Mines launched the
first auction of mineral blocks in offshore areas.
About:
developed to integrate State Legal Metrology

About: www.xias.in
departments into a unified national system.  Includes 13 mineral blocks in the Arabian Sea
and Andaman Sea.

 Streamlines processes for licensing,  Offshore mining includes minerals like


Metrology Act, 2009. www.xias.in
verifications, and compliance under the Legal

Aims to promote ease of doing business and

construction sand and polymetallic nodules.

reduce paperwork.
www.xias.in
MERCHANT SHIPPING BILL, 2024

www.xias.in
Recent Update: The Merchant Shipping Bill, 2024 was
introduced to replace the 1958 Act, ensuring
compliance with international maritime treaties.
About:


www.xias.in
Establishes the National Shipping Board to
advise on Indian shipping matters.
STATE FINANCES

Recent Update: RBI released the State Finances: A

 Study of Budgets of 2024-25 with a focus on fiscal

www.xias.in
Focus on pollution prevention and
compliance with international maritime reforms by states.
conventions like MARPOL. About:

COASTAL SHIPPING BILL, 2024 INTRODUCED IN THE  Fiscal Deficit: State governments reduced the
LOK SABHA
www.xias.in
Recent Update: The Coastal Shipping Bill, 2024 aims

consolidated Gross Fiscal Deficit (GFD) from
4.3% (1998-2003) to 2.7% (2004-2024).

FRBM Act, 2003: Enforced to ensure long-

to promote coastal trade and encourage domestic
participation.
About: www.xias.in term fiscal stability and inter-generational
equity.

www.xias.in
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 
www.xias.in
Amendments: Act amended four times (2004, o BOT: Private entity finances, builds,


2012, 2015, 2018).
www.xias.in
Targets: 3% GFD, 60% government debt
(Central 40%, State 20%) by 2024-25. o
operates, and transfers ownership
after a specified period.

BOO: Private entity builds, owns,

www.xias.in
GDP BASE YEAR REVISION

Recent Update: Government forms a 26-member

Advisory Committee to revise the GDP base year
o
operates, and may receive
government incentives.

BOT-Annuity: Government pays

www.xias.in
annuities based on private sector
from 2011-12 to 2022-23.
performance.
About:
 PPP Policy: Managed by the Private
 Base Year: Reference year for calculating real

www.xias.in
Investment Unit under the Department of
growth of national income.
Economic Affairs.
 Revision Impact: Affects GDP, IIPs, WPI, CPI.
INVESTMENT FACILITATION FOR DEVELOPMENT
 AGREEMENT (IFDA)

www.xias.in
GDP Measurement:

o Nominal GDP: At current market Recent Update: India and South Africa opposed
prices, no inflation adjustment. China's IFDA proposal at the WTO.
About:
o
base year prices.www.xias.in
Real GDP: Adjusted for inflation using

THE BANKING LAWS (AMENDMENT) BILL, 2024

 IFDA Objective: Legally binding provisions to
boost FDI in developing economies and LDCs.

www.xias.in
Recent Update: The Banking Laws (Amendment) Bill,
2024 passed in the Lok Sabha to enhance banking
governance.
 Plurilateral Agreement: Open to all WTO
members, only binding on those who accept
it.

About:

 Key Provisions: www.xias.in MBRIDGE PROJECT

Recent Update: Project mBridge reached MVP stage

in mid-2024, as reported by the Bank for
o Redefined fortnight for cash reserves.

o
www.xias.in
Raised threshold for substantial
interest in a company to ₹2 crore.
International Settlements (BIS).
About:

 mBridge Platform: A cross-border

www.xias.in
o Enables transfer of unclaimed assets decentralized multi-central bank digital
to the Investor Education and currency (mCBDC) platform.
Protection Fund.  Technology: Built on distributed ledger

www.xias.in
o Empowered banks to decide auditors' technology (DLT) ensuring security and
remuneration. transparency.

PUBLIC-PRIVATE PARTNERSHIP (PPP) FRAMEWORK  Participants: BIS, China, Thailand, UAE, Hong
Kong, and Saudi Arabia, with 31 observing
IN INDIA

www.xias.in
Recent Update: World Bank released a report
benchmarking PPP frameworks across 140
members including RBI.

www.xias.in
economies.
About:

 PPP Models:

www.xias.in
www.xias.in
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 www.xias.in Recent Update: The Oilfields (Regulation and

www.xias.in Development) Amendment Bill, 2024 was passed in

Rajya Sabha to amend the 1948 Act.
About:

www.xias.in  Key Provisions:

o Expanded definition of mineral oils to

include hydrocarbons, shale gas/oil.

www.xias.in o

o
Introduced petroleum lease instead
of mining lease.

Decriminalized offences, replaced

TOURISM SECTOR IN INDIA

www.xias.in
Recent Update: The Ministry of Tourism approved 40
projects worth ₹3295.76 crore for lesser-known o
imprisonment with ₹25 lakh penalty.

Rule-making powers: Central

government to oversee petroleum
tourist destinations.
About:

 Initiatives:
www.xias.in leases and environmental protection.

SOURCE: INSIGHTS MONTHLY

o

www.xias.in
Infrastructure: Swadesh Darshan 2.0,
PRASHAD Scheme, RCS-UDAN for
regional connectivity.
NITI AAYOG: TRADE WATCH QUARTERLY

Recent Update: The NITI Aayog’sTrade Watch

Quarterly report for Q1 FY25 outlines India’s trade
o

o
Visa facility.
www.xias.in
Policy: National Tourism Policy, E-

Niche Tourism: Eco-tourism,

performance and opportunities from global trade
realignments.
About:

www.xias.in
adventure tourism, wellness tourism.
 Key Markets: North America (21%) and EU
o Campaigns: Incredible India, Bharat (18.6%) are vital trade partners.
Parv, Visit India Year 2023.
 Growth sectors: IT services, pharmaceuticals,

www.xias.in
INSURANCE SECTOR IN INDIA

Recent Update: Parliament tabled a report on the

performance and regulation of the insurance sector.

electrical machinery, and mineral fuels.

Declining sectors: Textiles, pearls, and

leather.
About:

 www.xias.in
Microinsurance: Affordable products for low-
income people.
 Infrastructure Development: Expansion of the
Trade Connect e-Platform and enhanced
logistics.
o
www.xias.in
IRDAI Regulations: Defines eligibility,
product features, and reporting for
micro-insurance.
 Export Incentives: Schemes like RoDTEP to
support exports.

www.xias.in
Technological Integration: Digital trade and
 Challenges: High transaction costs, lack of innovation in high-growth sectors.
awareness, and capacity building.
 PLIs and FTAs: Boost manufacturing and
 Current Products: PM Suraksha Bima, PM strengthen FTAs with the UK and EU.

Bima. www.xias.in
Jeevan Jyoti Bima, Pradhan Mantri Fasal

OILFIELDS (REGULATION AND DEVELOPMENT)

VIKSIT BHARAT 2047

Recent Update: India aims for developed nation

AMENDMENT BILL, 2024
www.xias.in status by 2047, but faces challenges like slow growth,
high taxes, and declining foreign investments.
About:

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 
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Economic Growth: Target of 7-8% GDP  Off-Budget Borrowings:Andhra Pradesh


growth annually.
www.xias.in
Social Equity: Eradicate poverty, universal
healthcare, and quality education. 
faced scrutiny over ₹55,000 crore in off-
budget borrowings.

Dependence on Central Grants:Northeastern


www.xias.in
Global Competitiveness: Position India among
the top three global economies.

Environmental Sustainability:Net-zero
states rely heavily on central funds, limiting
fiscal autonomy.

RARE AND ESSENTIAL: THE GLOBAL HUNT FOR

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CRITICAL MINERALS
emissions by 2070 and enhanced renewable
energy adoption. Recent Update: The Ministry of Mines has identified
30 critical minerals essential for India’s growth, with
 Industrial Modernization: Boost

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China dominating the sector.
manufacturing under Make in India.
About:
 Key Initiatives:Make in India, PLI Schemes,
 Critical Minerals: Essential for economic
PM Gati Shakti, and Digital India.
development and national security.

www.xias.in
BALANCING THE SCALES: RBI VS CENTRE DYNAMICS

Recent Update: The relationship between RBI and the

 Importance: Supports electronics, energy
storage, renewable energy, aerospace, and
Centre continues to face conflicts, with ongoing defence.

Das’s tenure as RBI Governor.

About:
www.xias.in
disputes over monetary policy under Shaktikanta
 Vital for achieving Net Zero emissions and
fostering low-carbon economy.


www.xias.in
RBI Act, 1934: Empowers the government to
direct RBI in matters of public interest.
 Powers semiconductors, EVs, and high-tech
manufacturing.

THE RICH PAY MORE? UNPACKING WEALTH TAX

 Monetary Policy Framework (2016):


www.xias.in
Introduced inflation targeting, mandating
coordination.

Key Conflicts: Clashes with Y.V. Reddy, D.

POLICIES

Recent Update: The proposal to reintroduce wealth

tax in India has sparked debates on redistribution

www.xias.in
Subbarao, Raghuram Rajan, and Urjit Patel
over issues like foreign reserves, interest
rates, demonetization, and surplus reserve
versus capital flight concerns.
About:

 Wealth Tax: Levied on the net wealth of

www.xias.in
transfers. individuals, HUFs, and companies.

FISCAL DISCIPLINE IN INDIAN STATES  Exemptions: Charitable institutions, political

parties, and specific businesses.
Recent Update: The RBI report on state finances

debt and reliance on central grants.

About:
www.xias.in
highlights issues of fiscal imprudence, including rising 


Rate: Taxed at 1% for wealth exceeding ₹30
lakh.

Reintroduction Debate: Concerns over


www.xias.in
Fiscal Prudence: Responsible management of
public finances, controlling deficits,
maintaining debt sustainability.
administrative inefficiencies and capital
flight.

SOIL: THE SILENT LIFELINE OF OUR PLANET


www.xias.in
Populist Schemes: States like Punjab and
Andhra Pradesh face fiscal strain due to free
electricity and loan waivers.
Recent Update: The 10th World Soil Day emphasized
the critical role of soil health in food production and
sustainability.


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Rising Debt: States like West Bengal have
high debt-to-GDP ratios.
About:

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 
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Factors Impacting Soil:Water erosion, wind monthly income of agricultural households is


deforestation.

Regional Differences:
www.xias.in
erosion, salinity, chemical overuse, and


Rs 10,218, far below basic living standards.

Escalating Debt: Farmers in Punjab and

Haryana face huge debts, with institutional

o
erosion. www.xias.in
Arid regions: Rajasthan faces wind

Flood-prone areas: Bihar and Assam

loans reaching Rs 73,673 crore and Rs 76,630
crore respectively. Non-institutional debt is
also high, contributing to financial distress.

www.xias.in
Farmer Suicides: Over 4 lakh farmers and
suffer from erosion.
farm workers have committed suicide since
o Coastal zones: Odisha and Tamil Nadu 1995, with high indebtedness being a major
face salinity ingress. cause.

o
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Hilly areas: Uttarakhand faces
landslides and soil loss.
 Stagnation in Agricultural Growth: Punjab
and Haryana experienced stagnation in
growth, with annual rates of 2% and 3.38%

www.xias.in
o Semi-arid zones: Telangana and respectively, leading to low income and
Maharashtra face overgrazing and declining living standards.
drought.
 Disproportionate Employment: Despite 46%
INDIA’S DIGITAL INFRASTRUCTURE

www.xias.in
Recent Update: India has emerged as a global leader
in digital infrastructure, driven by Aadhaar, UPI, and
of India’s workforce being employed in
agriculture, it contributes only 15% to the
national income, worsening rural poverty.
DigiLocker.
About:


www.xias.in
Aadhaar: The world’s largest digital identity
CHANGING TRENDS IN FERTILIZER USE

Recent Update:
Sales of Di-Ammonium Phosphate (DAP) have
system with 138.34 crore enrolments.


www.xias.in
UPI: Facilitates digital payments with 24,100
crore transactions (as of June 2024).
dropped by 25.4% while NPKS fertilizers have surged
by 23.5%, driven by cost and supply chain issues with
DAP.

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 DigiLocker: A cloud-based platform with 37 About:
crore users for secure document storage.  Decline in DAP Usage: DAP prices surged due
 Digital Knowledge Sharing:DIKSHA has to the Russia–Ukraine war and supply

www.xias.in
conducted 556.37 crore learning sessions. disruptions from the Persian Gulf.

 Cloud Ecosystem: Platforms like MeghRaj and  Shift in Fertilizer Preferences: NPKS
NICcloud bolster e-governance. fertilizers, offering a balanced nutrient mix,
have gained popularity. 20:20:0:13 NPKS

SOURCE: DRISHTI MONTHLY

www.xias.in
SC PANEL REPORT ON AGRICULTURE DISTRESS
grade saw significant growth due to better soil
nutrition.

NATURAL PEARL FARMING IN INDIA

Recent Update:
www.xias.in
Recently, the Supreme Court (SC)-appointed
committee has submitted its interim report on
Recent Update:
The Ministry of Fisheries, in collaboration with states
and research institutes, has initiated efforts to

www.xias.in
agrarian distress in India. The report has highlighted
the severe state of crisis in India’s agriculture.

About:
promote natural pearl farming in India.

About:


www.xias.in
Income Crisis: Farmers earn a mere Rs 27 per
day from agricultural activities. The average
 Pearl Farming: Involves cultivating pearls
inside freshwater or saltwater oysters, with

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 www.xias.in
an irritant inserted into the mollusk, resulting  RBI Surpluses: Government demands higher

 www.xias.in
in nacre secretion over time.

Procedure: Key steps include mussel

collection, implantation of nuclei, post-
dividends from RBI's reserves, but RBI warns
of inflation risks.

SURGE IN AGRICULTURAL EMPLOYMENT

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operative care, and pond culture over 12-18
months before harvesting pearls.
Recent Update:
The number of Indians working in agriculture has
surged by 68 million between 2017-18 and 2023-24,

www.xias.in
reversing the earlier workforce decline.

About:

 Economic Reversal: The shift from a decrease

www.xias.in of 66 million agricultural workers between

2004-05 and 2017-18 to a rise of 68 million
signals a reversal.

www.xias.in
CONCERNS OVER CESS AND SURCHARGES IN INDIA
 Impact of Covid-19: Workers returned to
family farms during lockdowns, and this trend
persists.
Recent Update:

www.xias.in
Arvind Panagariya, Chairman of the 16th Finance
Commission, has expressed concerns over the
growing reliance on cesses and surcharges by the
 Employment Dynamics: Women workers
have notably increased, especially in
economically weaker states like Uttar
Pradesh, Bihar, and Madhya Pradesh, which
central government.

About: www.xias.in suffer from limited non-agricultural job

opportunities.

 Cess: A tax levied for a specific purpose, not INDIA’S STRATEGY FOR DEREGULATION AND


www.xias.in
shared with states. Examples include
Education Cess and Swachh Bharat Cess.

Surcharge: An additional levy on taxes, often

Recent Update:
GROWTH

Dr. V. Anantha Nageswaran, the Chief Economic

promoting social equity. www.xias.in

progressive, aimed at higher earners,

DISPUTE BETWEEN GOVERNMENT AND RBI

Advisor, has announced that deregulation will be a
major theme in the Economic Survey 2024-25.

About:

Recent Update:
www.xias.in
The Reserve Bank of India (RBI) Governor's tenure
concluded with some friction regarding policy
 Deregulation: Aims to remove restrictive
controls, promoting competition and market
efficiency. It is a major part of post-1991
differences with the government.

About: www.xias.in 
economic reforms.

Wage Growth and Consumption: The

stagnation of wages, especially for


www.xias.in
Easing Norms of PCA: Government urges RBI
contractual employees, hinders purchasing
to relax Prompt Corrective Action (PCA)
power, requiring a correction to boost
norms, but RBI resists, citing potential Non-
economic growth.
Performing Asset (NPA) risks.


www.xias.in
Section 7 of RBI Act: Government's rare
invocation of this section to direct RBI raises
concerns over autonomy.
Recent Update:
RISE IN FOREX RESERVES

India’s foreign exchange reserves rose to USD 658.09

www.xias.in billion in November 2024 after a period of decline.

About:

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Forex Reserves Movement: Driven by ADB LOANS FOR INDIA’S GREEN GROWTH AND

www.xias.in
merchandise trade deficit and service
exports. India’s merchandise trade deficit in
2023-24 stood at USD 242.07 billion.
LOGISTICS MODERNIZATION

Recent Update: India and the Asian Development

Bank (ADB) signed two significant loans aimed at


www.xias.in
Services and Remittances: Software exports
increased to USD 142.07 billion in 2023-24.
Private remittances also surged to USD
106.63 billion.
bolstering infrastructure and sustainable growth.
About:

 Loan Details:


www.xias.in
Current and Capital Account: The Current
Account Deficit (CAD) narrowed significantly
to USD 23.29 billion despite a merchandise
o

o
USD 500 million loan for green and
sustainable infrastructure.

Focus areas include connectivity,

source of capital flow. www.xias.in

trade deficit. FDI remains the most stable

DECLINE IN 10-YEAR BOND YIELD

energy transition, and under-
resourced sectors like urban projects,
education, and healthcare.

Recent Update:
www.xias.in
Indian government 10-year bond yields dropped to
their lowest level since 2021, attributed to
o Loan provided with sovereign
guarantee to India Infrastructure
Finance Company Limited (IIFCL).

About: www.xias.in
expectations of RBI easing interest rates.  SMILE Program:

o Aimed at modernizing logistics and

improving manufacturing
 Bonds: Debt instruments used by

sovereign guarantee.
www.xias.in
governments or companies to raise funds,
considered safe investments due to the o
competitiveness.

Focus on institutional strengthening

and coordination between various

www.xias.in
Bond Yield: The return an investor receives,
inversely related to bond price. A lower yield
typically signifies higher bond prices.
government bodies.

TRENDS AND PROGRESS OF BANKING IN INDIA 2023-

24

Recent Update:
2024 REPORT www.xias.in
WIPO WORLD INTELLECTUAL PROPERTY INDICATORS Recent Update:RBI's latest report highlights a decline
in non-performing assets (NPAs) and rising
profitability, while emphasizing emerging risks in

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unsecured lending.
India ranks among the top 10 nations for patents,
About:
trademarks, and industrial designs in the WIPO
World Intellectual Property Indicators 2024 report.  NPAs Decline:
About:

 www.xias.in
WIPO: A UN agency founded in 1967, it
oversees intellectual property globally. India
o 13-year low of 2.7% in March 2024,
further dropping to 2.5% in
September 2024.


joined in 1975.
www.xias.in
India’s Achievements: India is a member of
several important treaties, including the Paris
o Retail loans had the lowest GNPA at
1.2%. Agricultural loans had the
highest at 6.2%.


Marrakesh Treaty.
www.xias.in
Convention, Patent Cooperation Treaty, and

Key Reports: WIPO publishes the Global

o Significant improvement in education
loans, from 5.8% in March 2023 to
2.7% in September 2024.

Property Indicators.
www.xias.in
Innovation Index and World Intellectual  Profitability:

o Return on assets (RoA):1.4%.

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 o
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Return on equity (RoE):14.6% in  India’s Growth in Private Aviation:

o
FY24.
www.xias.in
The NBFC sector showed double-digit
credit growth with improved asset
o

o
112 private planes in India as of
March 2024.

India ranks among the top 20

quality.

www.xias.in
INCREASING REAL EFFECTIVE EXCHANGE RATE IN
INDIA
countries in terms of private aircraft
ownership, though far behind leaders
like the US and Malta.

www.xias.in
Recent Update:RBI reported the Real Effective
Exchange Rate (REER) of the rupee reached 108.14 in
November 2024, marking its highest level of the year.
ANNUAL SURVEY OF UNINCORPORATED SECTOR
ENTERPRISES 2023-24

Recent Update:Ministry of Statistics and Programme

www.xias.in
About:
Implementation (MoSPI) released the Annual Survey
 REER Insights: of Unincorporated Sector Enterprises (ASUSE) for
2023-24.
o A REER above 100 signifies
About:

o
competitiveness. www.xias.in
overvaluation, reducing export

Rupee’s REER reflects an

 ASUSE Focus:

o Measures economic and operational

www.xias.in
overvaluation since 2015-16, despite
nominal depreciation against the
USD.
characteristics of unincorporated
non-agricultural establishments in
manufacturing, trade, and services
sectors (excluding construction).
o

www.xias.in
Volatility Trends: India’s rupee
showed the lowest volatility among
major global currencies.
o Covers MSMEs, household units, and
own-account enterprises.

 NEER vs REER:

o www.xias.in
NEER: Reflects nominal currency
strength.
 Survey Details:

o Geographically covers rural and urban

areas of India.

o
www.xias.in
REER: Adjusted for inflation and price
differences between countries.

Influenced by factors like

o Conducted in three sectors:
Manufacturing, Trade, Other
Services.

spending. www.xias.in
productivity, trade terms, and fiscal

AVIATION AND ITS IMPACT ON EMISSIONS

o The third survey covers the period
October 2023 - September 2024.

MAKING INDIA’S FPOS GLOBAL

www.xias.in
Recent Update: A study highlighted aviation's
contribution to global greenhouse gas emissions,
particularly from private jets, with India’s private
Recent Update:ICRIERanalyzed issues plaguing India's
Farmer Producer Organisations (FPOs) and suggested
reforms to make them globally competitive.
aviation sector growing rapidly.
About:


www.xias.in
Global Aviation Emissions:
About:

 What are FPOs?

o Organizations formed by small

o
www.xias.in
Aviation accounted for 2% of global
energy-related CO2 emissions in
2022.
o
farmers for collective bargaining.

Ownership lies with farmers.

o
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Private jets emit 3.6 tonnes of CO2
per flight.
o Can be registered under Companies
Act, Societies Act, or Indian Trusts
Act.

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  Need for FPOs:
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o
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Small farmers (86% of India’s farmers)
can achieve economies of scale,
increase bargaining power, and

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access global markets.

LOAN WRITE-OFFS AND NPA REDUCTION IN PSBS

Recent Update:Loan write-offs have contributed to a

About:

 Loan Write-Off Data:

www.xias.in
12-year low in NPAs for public sector banks.

o
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Between FY2015-FY2024, Indian
banks wrote off Rs 12.3 lakh crore in
loans.

o
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Rs 9.9 lakh crore of this was written
off between FY2020-2024.

 Non-Performing Assets (NPAs):

o www.xias.in
Defined as loans that do not yield
payments for 90 days.

o
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Agricultural loans have a higher risk
of becoming NPAs due to seasonal
crops.

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 SOURCE: INDIAN EXPRESS o Strategic Development SWFs: Invest
ECONOMIC SURVEY 2024-25: STATE OF THE in key sectors for national
ECONOMY development.
Recent Update: The Finance Minister Nirmala
CONTRACT FARMING IN INDIA’S AGRICULTURE
Sitharaman tabled the Economic Survey 2024-25 in
Parliament, providing a roadmap for reforms and Recent Update: Contract farming has positively
growth, setting the stage for the Union Budget 2025. impacted India, especially with processed potatoes,
and this model can be extended to other crops and
About:
food products.
 The Economic Survey is an annual report
About:
presented by the government before the
Union Budget to assess India’s economic  Contract farming is an agreement between
condition. farmers and buyers regarding the production
and marketing of farm products.
 Prepared by the Economic Division of the
Ministry of Finance under the Chief Economic  Advantages:
Adviser’s supervision.
o Efficient Supply Chain Management:
 The survey assesses economic performance, Reduces wastage and ensures fair
highlights sectoral developments, outlines pricing.
challenges, and provides an economic
outlook for the coming year. o Access to Credit and Inputs: Farmers
receive credit, inputs, and training.
 First presented in 1950-51, became a separate
document from the Union Budget in 1964. o Increased Income for Farmers: Higher
incomes due to improved yields and
NEED OF SOVEREIGN WEALTH FUND FOR INDIA guaranteed prices.
Recent Update: India is contemplating creating a o Food Safety Standards: Ensures
Bharat Sovereign Wealth Fund (BSWF) or The Bharat compliance with international food
Fund (TBF) to tap dormant national wealth. safety standards.
About: UNCTAD GLOBAL INVESTMENT TRENDS MONITOR
REPORT
 Sovereign Wealth Funds (SWFs) are
government-owned funds created from state Recent Update: The United Nations Conference on
surpluses like natural resources, trade Trade and Development (UNCTAD) released its
surpluses, or budget excesses. Global Investment Trends Monitor for 2024,
reporting an 8% decline in global FDI.
 Characteristics: SWFs are owned by the
general government, invest in foreign About:
financial assets, and pursue financial
 UNCTAD is a leading UN institution
objectives.
established in 1964 to promote trade and
 Types: development in developing countries.
o Stabilization Funds: Absorb shocks  Flagship Reports: Trade and Development
from volatile revenues. Report, World Investment Report, Digital
Economy Report.
o Future Generation Funds: Invest
surpluses for long-term wealth. INDIA’S TAXATION SYSTEM
o Reserve Investment Funds: Manage Recent Update: The current tax system, particularly
foreign exchange reserves. under the GST framework, is hindering growth,
suppressing business development, and damaging
India’s investment reputation.

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 About: CBDT ISSUES NEW GUIDELINES FOR PPT UNDER
DTAAS
 Taxes: Financial charges imposed by the
government to fund public services and Recent Update: The CBDT introduced new guidelines
operations. for applying the Principal Purpose Test (PPT) under
India’s Double Tax Avoidance Agreements (DTAAs).
 Types:
About:
o Direct Taxes: Paid by
individuals/entities directly to the  PPT is a rule to prevent misuse of tax treaties
government. and is part of the BEPS framework.

o Indirect Taxes: Levied on goods and  DTAAs are agreements between countries to
services and collected by avoid double taxation.
intermediaries.
 Each agreement specifies which country has
 GST: A value-added tax applied to goods and the right to tax income.
services.
OPEN MARKET SALE SCHEME (DOMESTIC) POLICY
o Dual GST: Both Centre (CGST) and
Recent Update: The Ministry of Consumer Affairs
States (SGST) levy taxes.
announced revisions to the Open Market Sale
Scheme (Domestic) for 2024-25 to improve food
security and support ethanol production.

About:

 OMSS involves the sale of surplus food grains

from the central pool managed by the Food
Corporation of India (FCI).

 Helps stabilize food prices and meet the

needs of the Targeted Public Distribution
System (TPDS).

 Revisions: Reduced the reserve price of rice

by Rs 550 to support ethanol production.
INDIA’S FISCAL CONSOLIDATION
OFFSHORE SAND MINING IN KERALA
Recent Update: India has reduced its fiscal deficit
Recent Update: The government’s move to begin
from 9.2% of GDP in FY 2020-21 to an estimated 5.6%
offshore sand mining under the Offshore Areas
in FY 2023-24, with a target of 4.9% for FY 2024-25.
Mineral (Development and Regulation) Amendment
About: Act, 2023 has sparked opposition from Kerala’s
government and local communities.
 Fiscal consolidation refers to prudent
management of government finances to About:
ensure long-term economic stability.
 Offshore mining involves extracting minerals
 Key Features: from the seabed.

o Prudent Spending: Focus on  India’s Exclusive Economic Zone (EEZ) spans

infrastructure, health, and education. over two million square kilometers.

o Revenue Optimization: Maximize tax  India launched its first-ever offshore critical
collection and reduce tax evasion. mineral auction in 2024, targeting minerals
like lithium, cobalt, nickel, and copper.
o Debt Management: Ensure
sustainable public debt.

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 Konnect Platform to increase the global prominence
of Indian rubber.

About:

 iSNR focuses on promoting sustainable

rubber production.

 INR Konnect Platform connects stakeholders

in the rubber industry for better
collaboration.

RBI ISSUES REVISED ‘MASTER DIRECTION’ FOR ARCS

Recent Update: Reserve Bank of India (RBI) revised

the Master Direction - Asset Reconstruction
Companies (ARCs) directions in 2024. CENTRE-STATE REVENUE DYNAMICS

About: Recent Update: The share of states’ revenue from

central transfers has significantly increased in the past
 ARCs are financial institutions that buy non- decade, highlighting a growing dependence on the
performing assets (NPAs) and attempt to Centre.
recover debts.
About:
 Introduced under the SARFAESI Act, 2002,
ARCs are registered with the RBI.  Central transfers account for 23-30% of
states’ total revenue, up from 20-24% in the
 Asset Reconstruction involves acquiring loans 2000s.
and securities for debt recovery.
 States’ debt-to-GDP ratio is at 28.5%, higher
RBI LIBERALIZES FEMA RULES FOR CROSS-BORDER than the recommended 20%.
TRANSACTIONS
INDIA’S DEMOGRAPHIC TRANSITION
Recent Update: The RBI has liberalized rules under the
Foreign Exchange Management Act (FEMA) to Recent Update: A report from McKinsey & Company
promote the use of the Indian Rupee (INR) in cross- highlights that India has 33 years left to leverage its
border transactions. demographic dividend before transitioning into an
“aged” economy.
About:
About:
 FEMA, enacted in 1999, aims to facilitate
external trade and the orderly development  Demographic transition refers to changes in
of India’s foreign exchange market. birth and death rates and shifts in the
population age structure.
 Categorizes transactions into Current Account
Transactions and Capital Account  India is nearing the transition from a youthful
Transactions. population to an aging society by the 2050s.

BOOSTING INDIA’S RUBBER INDUSTRY KEY TRENDS AND CHALLENGES IN RETAIL INFLATION

Recent Update: The Rubber Board launched initiatives Recent Update: Retail inflation, based on the
like Indian Sustainable Natural Rubber (iSNR) and INR consumer price index (CPI), fell to 5.22% in December
2024, driven by easing food inflation.

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 About:

 Food inflation declined to 8.39% in December

2024, from 9.04% in November.

 Concerns: Inflation remains above RBI’s 6%

target in several states like Chhattisgarh
(7.63%).

SOURCE: THE HINDU

ICEGATE SYSTEMS
Recent Update: The Indian government revised its WHITE GOODS
goods import data, reducing the previously reported
Recent Update: The government selected 24
$14.9 billion gold import figure for November 2024 to
companies under the Production Linked Incentive
$9.9 billion due to double-counting errors in SEZ and
(PLI) Scheme for White Goods (Air Conditioners and
DTA imports.
LED Lights) with a committed investment of ₹3,516
About ICEGATE Systems:
crore.
 Full form: Indian Customs Electronic Gateway About White Goods:

 Purpose: A unified platform for capturing  Definition: Large home appliances used for
trade data from ports, airports, and container routine domestic chores such as cleaning,
depots. cooking, and climate control.

 Functionality:  Appliances Covered:

o Collects EXIM (Export-Import) data o Kitchen: Refrigerators, ovens,

from over 500 locations. microwaves, dishwashers

o Ensures real-time trade data o Laundry: Washing machines, dryers

transmission to the Directorate
o Climate Control: Air conditioners,
General of Commercial Intelligence
heaters, dehumidifiers, fans
and Statistics (DGCIS).
o LED lights: Core components and
 Departments involved:
accessories.
o Directorate General of Commercial
 Features:
Intelligence and Statistics (DGCIS)
o Durability: Designed for long-lasting
o Directorate General of Systems (DG
heavy use.
Systems)
o Energy Efficiency: Modern appliances
o Special Economic Zones (SEZs)
incorporate energy-saving features.
 Aim of Data Migration:
o Technological Integration: IoT
o Streamline trade data collection connectivity for smart, remote-
controlled appliances.
o Ensure consistency and eliminate
duplication. o Aesthetic Appeal: Various designs
and colors to suit modern interiors.

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  Administering Authority: Directorate General
of Foreign Trade (DGFT), Ministry of
Commerce and Industry.

 Aims:

o Streamlining export processes:

Simplify the CoO certification.

o Enhance trade efficiency: Reduce

processing times and improve
documentation accuracy.

o Support global supply chains: Provide

transparency for re-export and
DIFFERENTIAL PRICING intermediary trade.

Recent Update: The Central Consumer Protection “WHEN-LISTED” PLATFORM

Authority (CCPA) issued notices to Ola and Uber over
Recent Update:SEBI plans to introduce a “when-
alleged differential pricing based on the type of
listed” platform to regulate pre-listing share trading,
smartphone used by consumers.
aiming to curb grey market activities and protect
About Differential Pricing:
investor interests.
 Definition: A pricing strategy where About the ‘When-Listed’ Platform:
businesses set varying prices for the same
 Definition: A regulated platform for trading
product/service based on factors like location,
unlisted shares between IPO allotment and
demand, and customer demographics.
official listing.
 Types:
 Developed By: SEBI, in collaboration with
o Price Localization: Adjusting prices stock exchanges.
based on local purchasing power.
 Aim:
o Real-Time Pricing: Price adjustments
o Reduce grey market trading.
based on demand and competition.
o Ensure transparency and formalize
o Subscription-Based Pricing: Discounts
pre-listing trading.
for long-term commitments.
 Significance:
o Seasonal Discounts: Reductions
during specific periods. o Enhances market transparency and
protects investors.
o Volume Discounts: Incentives for bulk
purchases. o Reduces volatility and speculation in
the grey market.
ENHANCED CERTIFICATE OF ORIGIN (ECOO) 2.0
SYSTEM SACHETISATION PLAN
Recent Update: The Directorate General of Foreign Recent Update:SEBI is introducing a sachetisation
Trade (DGFT) introduced the Enhanced Certificate of plan to enable small-ticket systematic investment
Origin (eCoO) 2.0 System to simplify export plans (SIPs) starting at ₹250 per month.
certification and improve trade efficiency. About Sachetisation of Mutual Fund Investments:
About Enhanced eCoO 2.0 System:
 Definition: A strategy offering small,
 Definition: Upgraded digital platform for affordable units, inspired by FMCG products
issuing Certificates of Origin (CoO) to like shampoo sachets, to make financial
authenticate the origin of exported goods. products accessible.

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  Need: Recent Update: India’s FDI has crossed $1 trillion,
with a 26% growth in the current fiscal year.
o Financial inclusion: Targets low-
About:
income investors.
 Growth: $42.1 billion FDI in the first half of FY
o Addressing barriers: Overcomes the
2025.
high entry costs of traditional mutual
fund SIPs.  Key Drivers: Strategic policy reforms and
business-friendly ecosystem.
o Market Deepening: Expands the retail
investor base. FUTURE READY: INDIA’S DIGITAL ECONOMY
PROJECTION
 Aim:
Recent Update: India's digital economy is poised to
o Encourage small-ticket SIP
contribute 20% of GDP by 2029-30.
investments to democratize access.
About:
o Foster long-term savings and wealth
 Current Contribution: 11.74% of GDP.
creation.
 Sectors Impacted: ICT, BFSI, retail, education.
JAMMU RAILWAY DIVISION
 Growth: Five times more productive than the
Recent Update: The Prime Minister will inaugurate
rest of the economy.
the newly established Jammu Railway Division,
fulfilling a long-standing demand for better rail EXPOENTIAL GROWTH IN DIGITAL TRANSACTIONS IN
management in the northernmost region of India. INDIA
About Railway Division:
Recent Update: India’s digital transactions, led by UPI
 Definition: An administrative unit under and IMPS, continue to grow exponentially.
Indian Railways that manages operations, About:
maintenance, and infrastructure.
 UPI Growth: 16.73 billion transactions in
 Jammu Railway Division: December 2024.

o Falls under Northern Railway Zone.  IMPS: 24x7 real-time fund transfers.

o Previously managed by Firozpur  Significance: Financial inclusion, efficiency,

Division. and reduced cash dependency.

 Significance: NATIONAL TURMERIC BOARD ESTABLISHED

o Enhanced Connectivity: Overseeing Recent Update: The National Turmeric Board has
critical projects like Anji Khad and been launched to support turmeric production and
Chenab Rail Bridges. export.
About:
o USB RL Project: Manages the
Udhampur-Srinagar-Baramulla  Objectives: Farmer welfare, R&D, export
Railway Link. promotion, quality control.

o Strategic Importance: Boosts regional  India’s Dominance: Produces 70% of the

development, accessibility, and world’s turmeric.
tourism.
 Key Regions: Maharashtra, Telangana,
Meghalaya.

SOURCE: PIB
INDIA’S FDI SUCCESS STORY
SOURCE: DOWN TO EARTH
RUPEE SLIDE IMPACTS AGRICULTURAL TRADE

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 Recent Update: The Union Cabinet has approved a  Objective: To increase INR's use in global
subsidy package of Rs 3,500 per tonne for di- trade and reduce reliance on foreign
ammonium phosphate (DAP) amid the rupee's fall currencies.
against the US dollar.
 Benefits:
About:
o Reduced Vulnerability: Less
 Di-Ammonium Phosphate (DAP): A fertilizer
dependency on foreign currencies,
providing Nitrogen (18%) and Phosphorus
enhancing economic resilience.
(46%).
o Lower Exchange Rate Risks: Helps
 Uses: Essential for agriculture, also used in
businesses manage currency
fire retardants, industrial processes, and the
fluctuations and volatility.
food industry.
o Reduced Forex Reserves: Limits
 Context: The rupee's depreciation has led to
reliance on foreign exchange reserves
increased fertilizer costs, prompting
for stability.
government support to protect agricultural
trade.

SOURCE: VISION MONTHLY

RUPEE DEPRECIATION
Recent Update: The Indian rupee's exchange rate
against the US dollar has breached the 85 mark,
experiencing its sharpest depreciation in the last two
years.
About:
WPI BASE YEAR REVISION
 Rupee Depreciation: Refers to the decline in
the value of INR relative to foreign currencies. Recent Update: The Indian government set up a
working group to revise the WPI base year from 2011-
 Factors:
12 to 2022-23.
o Central Bank Confidence: Influences About:
investor confidence and market
 WPI: Measures the price changes of goods at
behavior.
the bulk sale level.
o Illiquidity: High short-term foreign
 Basket Composition:
debt.
o Primary Articles: 22.6%
o Inflation: Higher domestic inflation
compared to trading partners. o Fuel and Power: 13.2%
o Monetary Policy: RBI’s market o Manufactured Products: 64.2%
interventions and foreign exchange
 Purpose: To update the index with current
management.
economic conditions for better accuracy in
price trend reflection.
INTERNATIONALIZATION OF RUPEE HOUSEHOLD CONSUMPTION EXPENDITURE SURVEY
(HCES), 2023-24
Recent Update: RBI liberalized FEMA regulations to
encourage the use of INR for cross-border Recent Update: NSSO released the results of the
transactions. Household Consumption Expenditure Survey (HCES).
About: About:

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  Aim: To assess household consumption o BFSI and education sectors are major
patterns, well-being, and standards of living. contributors to the digital economy.

 Conducted by: National Sample Survey Office ‘CASHLESS TREATMENT’ SCHEME FOR ROAD
(NSSO). ACCIDENT VICTIMS

 Objectives: Recent Update: The Ministry of Road Transport and

Highways launched the “Cashless Treatment” scheme
o Analyze consumption patterns across
for road accident victims.
households.
About:
o Develop Consumer Price Indices (CPI).
 Coverage: Up to ₹1.5 lakh for treatment
o Provide data to revise base years for within 7 days if a police report is filed within
GDP and CPI calculations. 24 hours.

CENTRAL BANK DIGITAL CURRENCY (CBDC)  Eligibility: Covers all motor vehicle accidents.

Recent Update: US President banned the  Ex-Gratia: ₹2 lakh compensation for families
establishment of a Central Bank Digital Currency of deceased victims in hit-and-run cases.
(CBDC) in the USA.
INDIA SECURES 14.3% OF GLOBAL REMITTANCES:
About:
WORLD BANK
 CBDC: Digital currency issued by central
Recent Update: India secured 14.3% of global
banks, used as legal tender.
remittances in 2024, the highest-ever share.
 Types: About:

o Wholesale CBDC: Used for interbank  Factors:

transactions.
o Large Diaspora: Over 18 million
o Retail CBDC: Available for public use Indians abroad.
through apps.
o Migration Destinations: Increased
 Retail CBDC Models: migration to high-income economies
like the US, UK, and Australia.
o Token-based: Enables anonymous
transactions.  Significance:

o Account-based: Requires digital o Household Impact: Improves living

identification for access. standards and supports essential
expenses.
INDIA'S DIGITAL ECONOMY
o Economic Impact: Serves as a key
Recent Update: MeitY released a study on India’s source of foreign exchange, reducing
Digital Economy, based on OECD and ADB dependency on foreign aid.
frameworks.
About: INDIA REMAINS THE FASTEST-GROWING
ECONOMY:WORLD BANK
 Digital Economy: Comprises ICT sectors and
parts of traditional sectors integrated with Recent Update: India is projected as the fastest-
digital technologies. growing economy in 2024, according to the World
Bank.
 Study Insights: About:
o India is the first developing country to  Sectoral Performance:
estimate its digital economy using the
OECD framework. o Services: Export growth in services is
significant.

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 o Manufacturing: Strengthened by  Asset Types: Includes residential, commercial,
government initiatives. and industrial properties.

 Economic Foundations:  Goal: To boost investor confidence and

unlock the value of distressed assets.
o Fiscal Health: Shrinking deficits and
rising tax revenues. PREPAID PAYMENT INSTRUMENTS (PPI)

o Investment Growth: Supported by Recent Update: RBI allowed PPIs to make and receive
corporate balance sheets and easing UPI payments through third-party mobile apps.
finance conditions. About:

o Consumption: Private consumption  PPIs: Includes digital wallets, gift cards, and
expected to grow with strengthening mobile wallets.
labor market.
 Types:
GOVERNMENT TO BORROW RS 3.94 LAKH CRORE VIA
o Small PPIs: Issued with minimal
TREASURY BILLS (T-BILLS)
details required.
Recent Update: RBI set a calendar for issuing
o Full KYC PPIs: Requires complete user
Treasury Bills (T-Bills) worth ₹3.94 lakh crore.
verification.
About:
 Impact: Expands access to digital payment
 T-Bills: Short-term debt instruments issued at
methods.
a discount to manage government
borrowings. ROLE OF TRADE IN REDUCING FOOD INSECURITY
 Maturities: Issued in 91, 182, and 364 days. Recent Update: UNCTAD report examines how trade
can reduce food insecurity and mitigate famine risks.
 Cash Management Bills: Used to handle
About:
temporary mismatches in government cash
flows.  Role of Trade:
RBI RELEASES LIST OF NBFCS IN THE UPPER LAYER o Sustainable Supply: Imports help
(NBFC-UL) FOR 2024-25 meet food needs (e.g., 30% of Africa’s
cereals).
Recent Update: RBI released the list of Non-Banking
Financial Companies (NBFCs) in the Upper Layer for o Price Stabilization: Initiatives like the
2024-25. Black Sea Initiative help stabilize food
About: and fertilizer prices.
 NBFC-UL: These are subject to enhanced  Recommendations:
regulatory scrutiny and requirements.
o Reduce trade barriers.
 Objective: To reduce systemic risks and
o Invest in infrastructure.
enhance risk management practices.

 Regulatory Framework: Based on Scale-Based o Support sustainable farming in

Regulation (SBR) to ensure proportionality in developing nations.
oversight. REVISED OPEN MARKET SALE SCHEME (DOMESTIC)
BAANKNET (BANK ASSET AUCTION NETWORK) POLICY FOR 2024-25

Recent Update: Ministry of Finance launched the Recent Update: The Ministry of Consumer Affairs
revamped e-auction portal ‘BAANKNET’. revised the Open Market Sale Scheme (OMSS) to
About: improve food security.
About:
 BAANKNET: A platform designed to auction
distressed assets from Public Sector Banks.  Policy Changes:

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 o Rice Reserve Price: Set at ₹2,250 per Recent Update: PM inaugurated the Z-Morh Tunnel
quintal. in J&K, enhancing connectivity.
About:
o Ethanol Production: Price reduction
for ethanol distilleries.  Z-Morh Tunnel: A 12 km tunnel connecting
Srinagar to Sonamarg.
 Objective: To control food prices and reduce
inflation.  Significance: Enhances tourism and provides
year-round access to Ladakh.
PROJECT VISTAAR
BANIHAL BYPASS
Recent Update: IIT Madras partners with the Ministry
of Agriculture for Project VISTAAR. Recent Update: The Banihal Bypass was completed,
About: improving connectivity in J&K.
About:
 VISTAAR: A decentralized network providing
access to agricultural resources.  Banihal Bypass: Part of Jammu-Srinagar
National Highway.
 Objective: To enhance decision-making for
farmers by offering advisory services on crop  Impact: Reduces travel time, enhances
production, marketing, and value addition. security, and facilitates trade.

LOGISTICS EASE ACROSS DIFFERENT STATES (LEADS)

2024 REPORT

Recent Update: The Ministry of Commerce released

LEADS 2024 to assess logistics performance across
states.
About:

 LEADS Objective: To evaluate logistics

performance at the state level.

 Categories: Coastal, Landlocked, Northeast,

and Union Territories.
SOURCE: INSIGHTS MONTHLY
 Performance Classification: Achievers, Fast
THE GREAT INDIAN LEAP: HOW INDIA'S ECONOMY IS
Movers, Aspirers.
SOARING
ENTITY LOCKER Recent Update: India's economy is witnessing a
remarkable transformation with robust growth,
Recent Update: MeitY launched Entity Locker, a increasing global integration, and successful policy
cloud-based document storage and verification initiatives.
system.
About: About:

 Entity Locker: Secure digital storage system  GDP Growth: Nominal GDP rose from $2.04
for organizations and businesses. trillion (2014) to $3.57 trillion (2023).

 Features:  FDI Inflows: Total inflows from 2014–2024

stood at $709.84 billion, marking a 69% rise.
o Real-time document verification.
 Ease of Doing Business: Improved from 142nd
o Aadhaar-authenticated access (2014) to 63rd (2019).
management.
 Make in India: Boosted domestic
o Legally valid digital signatures. manufacturing and made India the second-
Z MORH TUNNEL (SONAMARG TUNNEL) largest mobile phone producer globally.

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  Startup India: Created over 100 unicorns and o Job Security: Long work hours can
fostered 1.5 lakh startups. enhance job stability in competitive
industries.
 Capital Market Growth: BSE Sensex surged by
185% from 2015–2025. THE SINKING RUPEE: IS IT A LEAK OR A LIFEBOAT?

 Policy Initiatives: Initiatives like PLI Scheme, Recent Update: The Indian rupee has sharply declined
Gati Shakti, and Digital India have propelled against the US dollar, prompting discussions on
economic growth. devaluation vs depreciation.

NINE YEARS OF STARTUP INDIA About:

Recent Update: Startup India celebrates its 9th year,  Devaluation: A policy-driven move to adjust
emphasizing India’s progress in fostering a vibrant the currency value for export
startup ecosystem. competitiveness.

About:  Depreciation: Caused by market forces,

reflecting the weakening of the rupee.
 Launched: January 16, 2016, to simplify
processes and support startups.  Internal Factors:

 Key Features: o Inflation: Rising domestic prices

reduce the rupee’s value.
o Simplified compliance and single-
window clearances. o Trade Deficit: Increased imports,
especially oil, strain foreign exchange
o Tax exemptions for three years for
reserves.
eligible startups.
o Fiscal Deficit: Imbalances pressure the
o ₹10,000 crore Fund of Funds for early-
rupee.
stage funding.
EXTERNAL COMMERCIAL BORROWING
o Focus on sectors like biotechnology,
renewable energy, and agriculture. Recent Update: The rise of External Commercial
Borrowing (ECB) reflects India’s corporate financing
BURNOUT VS. BREAKTHROUGH: THE LONG
boom.
WORKING HOURS PARADOX
About:
Recent Update: Business leaders push for longer work
hours to boost productivity, raising concerns about  What is ECB?: Loans raised by Indian entities
employee well-being. from foreign sources for capital expansion and
modernization.
About:
 Role: Used for infrastructure projects and
 Advocates: Business leaders like Narayana
modernizing industries.
Murthy and S.N. Subrahmanyan suggest 70–
90 hour work weeks.  Regulated by: The Reserve Bank of India (RBI)
under specific guidelines.
 Positives:
FROM FIELDS TO POLICY: THE IMPACT OF MSP ON
o Boosts Output: Increased work hours
INDIAN AGRICULTURE
lead to higher productivity.
Recent Update: A proposal for legally binding MSP
o Economic Growth: Long hours drive
sparks debates on its potential impact on Indian
higher GDP and sectoral output.
agriculture.
o Skill Development: Employees refine
About:
their skills during extended hours.

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  What is MSP?: A government-set minimum  Integrated Ratings: Annual ratings of
price for crops to ensure farmers don't incur DISCOMs evaluate financial and operational
losses. health, encouraging accountability.

 Crops Covered: 23 crops including cereals, FUTURE OF JOBS REPORT 2025

pulses, oilseeds, and commercial crops.
Recent Update: The World Economic Forum (WEF)
 Purpose: Ensures income stability and released its Future of Jobs Report 2025, projecting 78
protects farmers from market fluctuations. million new jobs by 2030, driven by technology, green
transition, and demographic shifts.
GRAIN BY GRAIN: REFORMING INDIA’S PDS
About:
Recent Update: Reports highlight inefficiencies in the
 Fastest-Growing Roles:Frontline jobs, care
Public Distribution System (PDS), demanding reforms
economy positions, and tech roles are
for better inclusivity.
expected to rise, while clerical roles will
About: decline.

 PDS Evolution: Originated in the 1960s,  Technological Advancements:AI, robotics,

expanding to rural areas by 1992 under RPDS. and energy technologies are key areas
requiring high skills.
 Coverage: Serves over 80 crore people with
subsidized food grains.  Green Transition: Demand for renewable
energy engineers and specialists in electric
 Challenges: Issues of exclusion and and autonomous vehicles will surge.
inefficiency, particularly in marginalized
communities.  Demographic Shifts: Aging populations in
high-income economies drive demand for
healthcare, while growing workforces in low-
SOURCE: DRISHTI MONTHLY income economies boost demand for
PRIVATISATION OF POWER DISCOMS educators.
Recent Update: In December 2024, the Supreme 8TH EDITION OF THE NATIONAL PROGRAMME FOR
Court upheld the Punjab and Haryana High Court’s ORGANIC PRODUCTION
decision, supporting the government’s intent to
privatize power distribution companies (DISCOMs) in Recent Update: The 8th edition of NPOP was
Chandigarh. launched, with India’s organic farming exports
About: expected to reach Rs 20,000 crore in the next three
years.
 UDAY Scheme: Launched in 2015 to rescue About:
financially strained DISCOMs, targeting
reduced debt through state takeover and  NPOP: Launched in 2001 to promote organic
improved AT&C losses and billing efficiency. farming and accreditation, with European and
Swiss recognition for Indian organic products.
 Revamped Distribution Sector Scheme
(RDSS): With a budget of Rs. 3,03,758 crore,  Technological Advancements: Includes NPOP
aimed to reduce AT&C losses to 12-15% and Portal for stakeholders and an Organic
eliminate the gap between ACS and ARR by Promotion Portal for global trade and
2024-25. training.

 Integrated Power Development Scheme  Simplified Certification: Replaces Internal

(IPDS): Focuses on improving urban power Control System (ICS) with legal recognition for
distribution by reducing technical losses and grower groups.
improving customer service.
EXTENSION OF CROP INSURANCE SCHEMES

Recent Update: The Union Cabinet approved the

extension of crop insurance schemes until 2025-26,

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 including a subsidy for DAP fertilizers. o 100% funding by the Centre for
About: modernization under the scheme.

 PMFBY: Provides comprehensive crop TAPPING RENEWABLE ENERGY POTENTIAL IN INDIA

insurance from pre-sowing to post-harvest,
Recent Update: The Ministry of New and Renewable
covering food crops, oilseeds, and
Energy is pushing states to ease land availability for
horticulture crops.
wind power projects, aiming to double wind energy
 Premium Rates:2% for Kharif, 1.5% for Rabi, capacity by 2030.
and 5% for commercial crops. About:

 RWBCIS: Compensates based on weather  Renewable Energy: Derived from natural and
parameters, unlike PMFBY, which relies on replenishable sources like solar, wind, and
direct crop loss assessments. hydropower.

INDIA-LATIN AMERICA TRADE RELATIONS  Wind Energy: India aims to expand its 47.95
GW capacity to 100 GW by 2030, contributing
Recent Update: India has strengthened its economic
to the 500-GW non-fossil energy target.
and diplomatic ties with Latin America and the
Caribbean (LAC), focusing on diversified cooperation BUSINESS READY (B-READY) REPORT 2024
despite China’s stronger presence in the region.
Recent Update: The World Bank launched the B-
About:
READY Report 2024, replacing the Ease of Doing
 Economic Opportunities: Latin America’s Business Report, to assess the global business
natural resources (copper, lithium) are key to climate.
India’s industrial needs, and its GDP exceeds About:
USD 6 trillion, providing a major market for
 B-READY Tool: Focuses on private sector
exports.
growth, evaluating stages like market entry,
 Energy Security: Latin American countries, operation, and closure.
especially Venezuela, Mexico, and Brazil,
 Key Topics: Includes Business Entry, Market
supply 30% of India’s crude oil imports.
Competition, Dispute Resolution, and
 Cooperation Areas: Includes Taxation.
pharmaceuticals, energy (lithium extraction
 Three Pillars:
from Bolivia), and agriculture for food
security and sustainability. 1. Regulatory Framework: Focuses on
business-friendly rules.
DILRMP AND DIGITALISATION OF LAND RECORDS
2. Public Services: Emphasizes
Recent Update: As of 2024, 98.5% of rural land
digitalization and transparency.
records have been digitized, a key achievement in
land reforms and transparency under the DILRMP. 3. Operational Efficiency: Measures
About: how firms comply with regulations.
 DILRMP: Revamped in 2016, this initiative
aims to modernize agricultural land records,
improve accessibility, and reduce disputes.

 Key Initiatives:

o ULPIN (Bhu-Aadhar): Provides 14-

digit geo-coordinates for land parcels
to streamline transactions and resolve
disputes.

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