Context: The banking sector unions, under the aegis of the All India Bank Employees’ Association (AIBEA), have sought exemption from income tax on profits of cooperative banks in the upcoming Union Budget. What are Cooperative Banks? Key Demands: Recapitalization of Cooperative Banks Revocation of the 2020 Banking Regulation Amendment (AIBEAs) Objection Source: Business Standard
Privatization of Smaller Fertilizer Companies
Context: The central government plans to privatize smaller state-owned fertilizer companies in FY26. This follows previous attempts to privatize larger agrochemical firms, which faced resistance. The decision will depend on market conditions and consensus among stakeholders. Background of Previous Divestment Plans Earlier Divestment Attempts: Fertilizer Companies to be Privatized Privatization Reasons and Concerns Prospects of Privatization Concerns of Privatization Government’s Role in Subsidy Fertilizer Industry Impact and Import Bill Reduction Source: Mint
Ethanol Price Hike
Context: The Cabinet Committee on Economic Affairs (CCEA) has revised the ethanol procurement price for public sector oil marketing companies (OMCs) from ₹56.58 per litre to ₹57.97 per litre for the Ethanol Supply Year 2024-25 (November 1, 2024 – October 31, 2025). What is Ehtanol? It is obtained by feeding various raw materials or agricultural products through fermentation, and ethanol is used as a fuel. Ethanol is renewable fuel as it can be used in the pepping of gasoline, or it can work as an octane enhancer. This is also called grain alcohol, ethyl alcohol, or simply EtOH. These are some applications of ethanol in agriculture:
Pinaka Multi-Barrel Rocket Launcher
Context: In a major boost for the indigenous Pinaka multi-launch artillery rocket systems, the PM Narendra Modi-led cabinet committee on security cleared two major deals worth around Rs 10,200 crore for its lethal ammunition. Pinaka Multi-Barrel Rocket Launcher Pinaka is a multi-barrelled rocket launcher designed and developed by the Defence Research and Development Organisation (DRDO) for the Indian Army. The rocket has a maximum range of 45 km, and one launcher can fire 12 HE rockets in 44 seconds. Pinaka is mounted on a Tatra truck and was quite effective during the Kargil War in neutralizing Pakistani positions. It has been inducted in large numbers in the Indian Army since then.
Labour Code Implementation and Reforms
Context: Setting the stage for the possible implementation of the four Labour Codes from April 1, a meeting of the officials and Ministers of the Union Labour Ministry and State Labour Ministries has reviewed the progress in drafting of rules under the Codes by the States. Key Highlights: Objective of the Labour Code Reforms Launch of Occupational Shortage Index (OSI) E-Shram Microsite for Unorganised Workers Key Benefits of Labour Code Reforms Labour Code Reforms Impact on Businesses and Workers Business Impact Encouragement of Investment and Growth Effects on the Workers
Waqf Amendment Bill, 2024
Why in News? The Indian Parliament has proposed the Waqf Amendment Bill 2024 with the objective of amending the Waqf Act 1995 to introduce better accountability and transparency into the functioning of Waqf boards. The main thrust of the bill is to eliminate unchecked powers enjoyed by Waqf Boards under the present regime which gives them the freedom to declare any property as Waqf without due checks. Major Changes in the Waqf Act Amendment Bill 2024 Criticisms of the Waqf Act Amendment Bill, 2024 What is the Waqf Act 1995? A Waqf is the irrevocable donation of moveable or immovable property for religious pious or charitable purposes as recognized under Muslim law.Earnings of Waqf properties are used for educational institutions, mosques graveyards and shelter homes. History Waqf Act was enacted in 1954 and were repealed in 1995 which subsequently augmented more powers to the Waqf Boards. Again an amendment introduced in the year 2013 empowered the Waqf Boards to pronounce with great authority the properties to be treated as Waqf Property. The Central Waqf Council CWC was established in 1964 as a supervisory body for Waqf Boards at the State level Waqf Properties in India
Domestic Workers
Context: The Supreme Court has called for making the long standing exploitation of domestic workers the thing of the past by way of formulating a comprehensive legal framework that safeguards their rights. Domestic Workers Domestic workers are individuals who provide service to private households, such as cleaning, cooking, and caring for children. They can be full-time or part-time, and may even live in or outside the employer’s house. What do domestic workers do? What are the challenges domestic workers face? What is a domestic worker according to the International Labour Organization? Highlights of the Judgment Directive for Government Action Lessons from Progressive State Laws Growing Demand Rising Vulnerability
Major Schemes
Context: As India prepares for the Union Budget 2025-26 here is a look at recently launched schemes, older schemes with reduced funding, Production Linked Incentive (PLI) schemes and initiatives promoting electric mobility. AI development Schemes Older Schemes with Reduced Funding
2. India’s White Revolution
What is the White Revolution? The White Revolution is a sudden rise in milk production in India making India the worlds largest milk producer. It was spurred on by Operation Flood launched by the National Dairy Development Board (NDDB) in 1970. Verghese Kurien known as the Father of the White Revolution led this initiative. Objectives of Operation Flood Key Features Phases of Operation Flood Importance of the White Revolution Equitable Access to Milk Beyond the White Revolution Success of the White Revolution Milk production in India surpassed that of all other countries to become the world’s largest producer, yet this achievement has not translated to fair access to milk for the Indian population. Policy Recommendations White Revolution 2.0 Why in News? Recently, the Ministry of Cooperation unveiled standard operating procedure (SOPs) for White Revolution 2.0, aimed at empowering women farmers and creating job opportunities. White Revolution 2.0 White Revolution 2.0 is a program aimed at ensuring increased milk production women empowerment and malnutrition control.It is a sequel to the original White Revolution touted as Operation Flood that was initiated by Dr Verghese Kurien in 1970. The move transformed India from a milk deficient country into the worlds number one milk producer. Targets and Goals Key Initiatives Under White Revolution 20 Empowerment of Women Tackling Malnutrition Synergistic Integration with Ongoing and Proposed Plans UPSC Civil Services Examination, Previous Year Question (PYQ) Mains Q. Explain various types of revolutions, took place in Agriculture after Independence in India. How have these revolutions helped in poverty alleviation and food security in India? (2017)
Issues with MGNREGA Scheme
What is MGNREGA Scheme?