Daily Current Affairs Quiz
7&8 December, 2025
National Affairs
1. The Evolution of Pension Reforms in India
Context:
India’s rapidly ageing population poses a growing pension challenge. Over 153 million Indians are aged 60+, projected to rise to 347 million by 2050. Despite formal sector provisions, 88% of senior citizens work in the informal economy, lacking pensions or reliable social security. The government has progressively revised pension schemes to enhance financial inclusion, social protection, and long-term savings behaviour.
Key Pension Schemes and Evolution
a) Social Assistance Schemes
- Indira Gandhi National Old Age Pension Scheme (IGNOAPS), 1995:
- Targets BPL individuals aged 65+.
- Provides direct, regular income for older adults in the informal sector.
- Old Pension Scheme (OPS):
- Covered formal sector government employees.
b) Contributory Pension Schemes
- Atal Pension Yojana (APY), 2015:
- Contributory scheme for individuals aged 18-40.
- Flexible monthly, quarterly, or half-yearly contributions to accommodate informal sector income variability.
- Government guarantees minimum pension if returns are insufficient.
- New Pension Scheme (NPS), 2004:
- Replaced OPS for formal sector employees.
- Corporate sector model extends coverage to private employees.
- NPS 2.0: Allows 100% equity allocation and a flexible multiple scheme framework (MSF) for younger, high-risk investors.
Policy Reforms and Labour Codes
- Labour Codes redefine ‘wages’ to ensure basic pay ≥50% of total earnings.
- Pension, gratuity, and social security benefits are now calculated on a higher wage base, strengthening financial protection for workers.
Bridging Informal Sector Gaps
- Informal sector coverage: APY and e-SHRAM portal integrate informal workers into the social protection system.
- e-SHRAM: National database for workers; facilitates registration and awareness of eligible schemes.
- Challenges: Aadhaar-bank account linkage, digital literacy, and registration errors.
- Awareness gap: LASI data (2017-18) shows 42% of individuals aged 55+ unaware of NPS eligibility.
Challenges
- Digital literacy barriers: 63% of elderly unable to use the Internet.
- Fragmented access: Procedural requirements risk excluding the most vulnerable.
- Awareness and disbursement gaps: Limit full potential of social security schemes.
2. Indian Statistical Institute (ISI) Bill, 2025
Source: TH
Context:
On September 25, 2025, the Ministry of Statistics and Programme Implementation (MoSPI) released the draft Indian Statistical Institute Bill, 2025, proposing to repeal the Indian Statistical Institute Act, 1959. The draft Bill has sparked widespread protests among students and academicians, who argue that it threatens ISI’s academic autonomy and governance framework.
About the Indian Statistical Institute (ISI)
- Founded in 1931 by P.C. Mahalanobis in Kolkata.
- Originally a registered society, later declared an Institution of National Importance under the 1959 Act.
- Key contributions:
- Creation of the National Sample Survey Organisation (NSSO).
- Produced eminent statisticians like C.R. Rao and S.R.S. Varadhan.
- Academic offerings: Statistics, Mathematics, Quantitative Economics, Computer Science, Cryptology, Library Science, Operations Research.
- Current strength: six centres across India.
Key Changes Proposed in the Draft ISI Bill, 2025
- ISI would transition from a registered society to a statutory body corporate.
- Governance changes: Authority shifts to a Board of Governors (BoG) dominated by government nominees.
- Revenue generation powers (Section 29): Fees, consultancy, sponsored research, and other sources.
- All appointments will now be controlled by the Union Government, raising concerns of political interference.
Banking/Finance
1. Rupee Breaches 90 Against US Dollar Amid External Pressures
Source: IE
Context:
- The Indian rupee (₹) fell past the psychological 90 mark against the US dollar, hitting an intra-day low of ₹90.29 and settling at ₹90.19, marking a 5.5% depreciation since April 2025.
- The decline coincides with US reciprocal tariffs, high commodity prices, and foreign outflows.
- Foreign Portfolio Investors (FPIs) have pulled out $17.3 billion from the Indian equity market in 2025.
Key Drivers of Depreciation
- Trade and Tariff Pressures:
- High 50% US tariffs on select Indian goods.
- Rising gold and silver prices driving record imports, widening the trade deficit.
- Capital Outflows:
- Net FPI sale of $800 million in the first three days of December.
- Large private equity divestments during marquee IPOs.
- Commodity Imports:
- Expensive fuel, metals, and electronics imports increase external demand for dollars.
Economic Implications
- Imports costlier: Fuels, electronics, and metals become more expensive, raising inflationary pressures.
- Overseas expenses rise: Education, travel, and medical costs increase.
- Exports and remittances benefit: Depreciation makes Indian exports more competitive and foreign remittances more valuable.
- Current Account Deficit management: Controlled depreciation can help RBI conserve reserves and support trade competitiveness.
Policy and Market Response
- RBI intervention: Limited action to cap sharp fall; rupee managed at ₹90.21.
- Controlled depreciation strategy: Authorities appear to allow the currency to find its equilibrium, prioritizing export competitiveness over short-term stabilization.
- Near-term volatility expected: Clarity on India–US trade talks and commodity price trends will determine the rupee’s trajectory.
2. Sebi Grants In-Principle Approval to Raajmarg Infra InvIT
Source: BS
Context:
- Securities and Exchange Board of India (Sebi) has granted in-principle approval to Raajmarg Infra Investment Trust (RIIT) as an Infrastructure Investment Trust (InvIT).
- Final registration will be granted after RIIT meets specific conditions over the next six months.
Purpose and Objectives
- RIIT is designed to monetise National Highway assets.
- It aims to create a high-quality, long-term investment vehicle, primarily targeting retail and domestic investors.
- Focus on transparency, investor protection, and compliance standards under Sebi’s public InvIT framework.
Infrastructure Investment Trust (InvIT)
- An InvIT is a financial instrument that enables investment in income-generating infrastructure assets such as highways, power plants, ports, and renewable energy projects.
- It allows investors to earn returns from infrastructure projects without directly owning the physical assets.
Types of InvITs
- Public InvITs: Accessible to retail investors; must comply with SEBI’s disclosure and governance norms.
- Private InvITs: Limited to qualified institutional buyers (QIBs).
SEBI Criteria For InvITs:
| Criteria | Public InvIT | Private InvIT |
|---|---|---|
| Asset Type | Completed, revenue-generating infrastructure (≥80% of assets) | Same |
| Minimum Asset Size | ₹500 crore | ₹250 crore |
| Investors | ≥1,000 | Qualified Institutional Buyers (QIBs) only |
| Listing | Mandatory on stock exchange within 12 months | Not mandatory |
| Distribution | ≥90% of net distributable cash flows, semi-annual | Same |
| Debt Limit | Max 49% of asset value | Same |
Agriculture
1. World Soil Day: Grasslands, Not Trees, Are Key to India’s Climate Resilience
Source: TH
Context:
India’s semi-arid grasslands and savannahs, often termed “wastelands” since colonial times, are now recognised as critical ecosystems for biodiversity, pastoral livelihoods, and climate resilience. Grasslands differ from forests as most biomass is underground, concentrated in deep, fibrous root systems that stabilize soils, enhance structure, and store carbon.
Historical Undervaluation
- During British colonial rule, policy favoured woody forests for timber, neglecting grasslands.
- Post-independence, the National Wastelands Development Board (1985) continued this framing, classifying diverse ecosystems—scrublands, degraded pastures, barren areas—as “wastelands.”
- Policy missteps led to afforestation of grasslands, often with invasive species like mesquite, degrading soil and pastoral livelihoods.
Soil and Carbon Benefits
- Grasslands enhance soil fertility through organic matter deposition and support diverse microbial communities.
- Below-ground carbon storage in grasslands is more stable than above-ground biomass in forests and resilient to fires.
- Studies from Malshiras (Maharashtra) and Banni Grassland (Gujarat) show:
- CAMPA-funded grassland restoration increased soil organic carbon (SOC) by 21% in two years, 50% by three years.
- Banni Grasslands store 27 metric tonnes of carbon per hectare up to 30 cm depth, making them among the most carbon-rich arid ecosystems globally.
Livelihoods and Community Role
- Grasslands provide pastoral livelihoods; rotational grazing, biomass management, and local stewardship maintain ecosystem health.
- Community-led restoration, as seen in Banni, demonstrates that sustainable governance and local involvement are critical to ecological and climate outcomes.
Policy Implications
- Afforestation initiatives alone cannot ensure climate resilience in drylands.
- Restoration and management of native grasslands should be prioritized, focusing on:
- Removing invasive woody species
- Reintroducing native perennial grasses
- Supporting pastoralist communities in governance
2. Pesticides Management Bill
Source: BS
Context:
The government has reopened consultations on the long-pending Pesticides Management Bill (PMB), aimed at modernising India’s pesticide regulatory framework.
About Pesticides Management Bill (PMB)
Objective
- To regulate the import, manufacture, sale, transport, distribution, and use of pesticides.
- Ensure safe, effective, and environmentally responsible pesticide management.
Key Focus Areas
- Registration & Licensing: Mandatory registration of all pesticides; licensing for manufacturers, distributors, and dealers.
- Labeling & Packaging: Clear instructions, safety warnings, and hazard information.
- Safety & Compliance: Regular inspections, monitoring, and strict penalties for violations.
- Ban & Restrictions: Authority to prohibit hazardous pesticides.
- Promotion of Eco-friendly Pesticides: Support for bio-pesticides and integrated pest management practices.
Key Industry Concerns:
Licensing and Regulatory Control
- The draft gives excessive discretion to state licensing officers, without uniform central guidelines.
- Potential issues include arbitrary or inconsistent implementation across states.
- Suggestions:
- Define powers clearly.
- Mandate uniform licensing terms.
- Introduce a centralised digital system for issuing and renewing licences.
- Allow interstate sales without new licences.
- E-commerce sales to be regulated via licence verification and PIN-code restrictions.
Sampling and Inspection
- Section 40(1)(d) allows inspectors to take samples without representative or randomised selection, potentially enabling selective enforcement and corruption.
- Recommendation: Use rotational/randomised sampling, maintain digital records, and ensure disciplinary action for lapses.
Company Bans
- Section 35 permits bans on companies on vague grounds without scientific investigation, possibly for over a year.
- Proposal: Time-bound temporary bans (60–90 days) strictly based on scientific evidence; avoid bans triggered by trade disputes.
Data Protection and Innovation
- Regulatory Data Protection (RDP), allowing 5-year protection for new molecules, was present in the 2008 draft but dropped in current PMB.
- Absence of RDP may discourage research and development in new pesticides.
3. e-NAM 2.0
Source: BS
Context:
The Centre’s electronic National Agriculture Market (e-NAM) 2.0, aimed at enhancing mandi operations, is facing data migration challenges in Rajasthan. Rajasthan and Tamil Nadu were selected as pilot states for the new platform.
electronic National Agriculture Market (e-NAM)
- e-NAM is a pan-India electronic trading platform for agricultural commodities, launched to create a unified national market for farmers.
- It connects mandis (agricultural markets) across states, enabling transparent price discovery and easier trade.
Objectives
- Improve farmer income by providing better prices through competitive bidding.
- Reduce intermediation and market fragmentation across states.
- Facilitate direct access to buyers, assayers, and logistics providers.
- Promote digital trading, transparency, and efficiency in agricultural markets.
Key Features (e-NAM 2.0)
- Bank account validation and e-KYC for farmers and traders using Aadhaar.
- Integration of assaying, logistics, and value-added services.
- Designed to be robust, scalable, user-friendly, and open-network compliant.
- Supports real-time trading, price discovery, and data-driven market insights.
Features of e-NAM 2.0
- Designed to be efficient, robust, user-friendly, inclusive, scalable, and open-network compliant.
- Key functionalities include:
- Bank account validation
- eKYC via Aadhaar
- Onboarding of assaying, logistics, and other value-added service providers
- Objective: overcome logistical gaps, enable faster trade, reduce wastage, and improve mandi efficiency.
Facts To Remember
1. Suruchi and Sainyam make it a gold-silver finish for India
Suruchi Singh (245.1) clinched the women’s 10m air pistol gold, while compatriot Sainyam (243.3) took the silver as India made a big splash on the opening day of the season-ending ISSF World Cup Final in Doha.
2. Simranpreet Kaur claims women’s 25m pistol gold
Young Simranpreet Kaur overcame a challenging field to win the women’s 25m pistol gold, while men’s 50m rifle 3-position exponent Aishwary Pratap Tomar bagged a silver on ISSF World Cup Final debut.
3. ICAR Urges Universities to Launch Courses in Natural Farming
The Indian Council of Agricultural Research (ICAR) has urged all State and Central agricultural universities, as well as universities with agriculture departments, to introduce undergraduate and postgraduate courses and research programmes in natural farming.
4. UMEED Portal for Waqf Properties Officially Closed After Six-Month Window
The UMEED Central Portal for management of Waqf Properties has been officially closed for uploads on the 6th of this month.
5. Vice-President C P Radhakrishnan Launches Silver Jubilee Celebrations of Brahma Kumaris’ Om Shanti Retreat Centre
Vice President C P Radhakrishnan today launched Rajat Rashmiyan, formally marking the commencement of the silver jubilee celebrations of Brahma Kumaris’ Om Shanti Retreat Centre (ORC) in Gurugram, Haryana.
6. MNRE Denies Reports of Halting Renewable Energy Financing in India
The Ministry of New and Renewable Energy (MNRE) has clarified that no advisory has been issued to pause or halt new renewable energy financing, refuting reports of lending restrictions amid overcapacity concerns.
7. Rajnath Singh Inaugurates 125 Infrastructure Projects
Defence Minister, Rajnath Singh inaugurated 125 strategically significant infrastructure projects including Shyok Tunnel, across 7 States and 2 Union Territories constructed by The Border Roads Organisation (BRO).
8. Veteran actor Kalyan Chattopadhyay passes away at 82
Veteran actor Kalyan Chattopadhyay passed away at the age of 82. Recently, he had been hospitalised due to age‑related illness and breathed his last on Sunday night.
