Daily Current Affairs Quiz27 February, 2025 International Affairs 1. U.S. Ukraine Economic Deal Context: Ukraine and the U.S. just drafted an initial economic mechanism that signals the intentions of nations toward deeper bilateral relations. Key Provisions: Market and Geopolitical Impact The upcoming Washington talks on Friday will decide whether this economic framework will serve as a comprehensive strategy alliance or remain a work in progress. Source: The Hindu 2. EU-India Relations Context: Ursula von der Leyen, president of the European Commission, with a delegation of 21 European Union (EU) commissioners, embarks on a two day trip to India. The largest EU delegation to India since its establishment manifests an expression of resolve by the Europeans to strengthen its partnership with the Indian side outside the U.S. orbit against the backdrop of changing U.S. policies in the Russia Ukraine conflict. Key Highlights of the Visit Key Objective Items Geopolitical Context The high profile European visit reinforces the resolve to diversifying partnerships, and India appears to be playing a central role here. While trading technology cooperation remains a priority, expect considerable geopolitical divergences in particular, on this one aligned with Russia. UPSC Civil Services Examination Previous Year Questions (PYQs)  Prelims:  Q. The term ‘Digital Single Market Strategy’ seen in the news refers to (2017) (a) ASEAN   (b) BRICS  (c) EU   (d) G20  Ans: (c)  Q. ‘European Stability Mechanism’, sometimes seen in the news is an (2016) (a) agency created by EU to deal with the impact of millions of refugees arriving from Middle East  (b) agency of EU that provides financial assistance to eurozone countries  (c) agency of EU to deal with all the bilateral and multilateral agreements on trade  (d) agency of EU to deal with the conflicts arising among the member countries  Ans: (b) 3. Carbon-Border Adjustment Mechanism (CBAM) & Deforestation Regulation Context: The European Union (EU) has highlighted that relaxations are unlikely for India concerning the CBAM and Deforestation Regulation. What is the CBAM and Deforestation Regulation?  The Carbon-Border Adjustment Mechanism (CBAM) is a carbon tax the EU will levy from January 1, 2026 on imported goods to encourage cleaner industrial production practises. EU’s Position on CBAM EU’s Deforestation Regulation & Difficulty for India India’s Trade Strategy and WTO Concerns The EU stands firm in its enforcement of the CBAM and deforestation regulations, with no exemptions.In the next round of negotiations, India is expected to demand a longer transition period and trade safeguards. The negotiations for the India-EU FTA will become crucial in determining how these two economies will manage these new trading regulations. 4. Trump Proposes $5 Million ‘Gold Card’ Visa for Wealthy Immigrants Context: U.S. President Donald Trump proposes citizenship pathway visa called “gold card” costs $5 million. Economic & Policy Implications Will Russian Oligarchs Be Eligible? Geopolitical Context Marketing Opportunity Response & Concerns The visa for gold cards caters to a new and very exclusive way of immigration, a really well matched one with his business acquisitive mentality.Although this could garner great revenues, the debate on the geopolitical and security implications stays very much alive. Source: Mint National Affairs 1. Maternity Benefits in India The National Food Security Act (NFSA) Pradhan Mantri Matru Vandana Yojana Lack of Clarity and Barrier of Information Technology Successful Models: Tamil Nadu and Odisha Two Sets of Rules for Maternity Benefits Reform Road to Go Ahead These maternity benefits languish under neglect of the state, to the detriment of millions of helpless women and children. An effective maternity program not only fulfills the duty of compliance with the law but goes one step further to secure the health of mothers and children for the welfare of society as a whole. Source: The Hindu 2. Disability Rights vs. DPDP Act, 2023 Context: Under Section 9(1) of the Digital Personal Data Protection (DPDP) Act, 2023, adult PwDs have been equated with children and require guardian consent for personal data processing.Two Laws in Conflict: Activists argue that this violates the decision making rights of PwDs based on misconceived notions regarding guardianship. Understanding Section 9(1) Concerns Raised By Disability Activists Source: The Hindu 3. Impact of Coal Power Plant Emissions on Agricultural Context: In some Indian states, coal fired power plants are responsible for yield reductions in the range from 5 percent to 10 percent. The emissions of these plants, especially nitrogen dioxide (NO₂), are phytotoxic and reduce plant health and photosynthesis.Astronomical estimates of the contribution of NO₂ pollution to agricultural regions were done through satellite based analysis. Regional Influence Economic & Policy Outlook Policy Recommendations Larger Context Pollution mitigation in select coal plants would allow for improved energy security and food security without compromising economic growth. 4. Time Use Survey for 2024 Key Findings Increases of Employment Related Activities Gender Based Analysis Survey Methodology Changes in the pattern of education, lifestyle changes, or employment pressure may represent the declining trend in learning time.The increasing working hours may indicate changing aspects of the economy, especially in the rural parts of the country. Banking/Finance 1. RBI Eased Risk Weights Norms on Commercial Bank Loans Extended to NBFCs Context: RBI has reversed the increase in risk weights prescribed for commercial bank loans to NBFCs (Non Banking Financial Companies) effective from April 1, 2025.The intent behind the move was to ease credit flow to the stressed NBFCs that were suffering from funding constraints, liquidity deficits, and a sudden increase in stress on their small ticket and microfinance loans. Background Impact Due To Rollback The RBI’s rollback of the risk weights is a decision in favor of growth and will respond to the liquidity position of the NBFCs while enabling the sector to expand its credit.The action is also consistent with the RBI’s broader initiative to support financial sector stability for stimulating economic growth. 2. RBI Study on Government Expenditure Government’s Engaging in Development through Expenditure Trends in Capital Expenditure and Revenue Expenditure Issues in Fiscal Management Reservations on Private Investment Risks of Populism in Spending The government must maintain its Capex momentum while ensuring fiscal prudence. Revitalize private