Daily Current Affairs (DCA) 28 May, 2025

Daily Current Affairs Quiz
28 May, 2025

International Affairs

1. EU’s Carbon Border Tariff

Context:

European Union (EU) countries have agreed to significantly scale back the EU’s carbon border levy. The tariff will now cover only about 10% of firms previously targeted under the scheme. These 10% of companies account for over 99% of the emissions covered by the policy.

Background of the Carbon Border Tariff

• The EU’s carbon border tariff aims to protect European producers from cheaper imports originating in countries with less stringent climate regulations.
• It imposes a fee on imports equivalent to the carbon price paid by EU-based companies under the bloc’s CO2 emissions policies.

Key Changes and Impact

• The original proposal targeted around 200,000 importers who would have paid the levy starting next year.
• Under the revised plan, only companies importing more than 50 metric tons per year of goods like steel, cement, aluminium, and fertilizers will be subject to the levy.
• This replaces earlier rules that applied to all importers with goods valued over 150 euros (~$170).
• The change aims to reduce bureaucracy for smaller businesses without compromising environmental goals.

BS

2. Japan Loses Status as World’s Largest Creditor Nation to Germany in 2024

Context:

Japan lost its position as the world’s largest creditor nation for the first time in 34 years. Germany surpassed Japan with net external assets of 569.7 trillion yen compared to Japan’s 533.05 trillion yen at the end of 2024.

Key Highlights:

• China remained third with net assets of 516.3 trillion yen.
• Japan’s net external assets grew by about 13% from the previous year, marking an all-time high despite losing the top spot.

Background

• Japan held the top position since 1991 after overtaking Germany.
• Germany’s rise is due to a substantial current account surplus of 248.7 billion euros in 2024, supported by strong trade performance.
• Japan’s current account surplus was 29.4 trillion yen (around 180 billion euros) in 2024.

Net Foreign Assets

• Net foreign assets equal the value of overseas assets minus domestic assets owned by foreigners, adjusted for currency changes.
• This reflects cumulative changes in the country’s current account over time.

National Affairs

1. Early Onset of Southwest Monsoon 2025 — Causes and Uncertainties

Context:

The India Meteorological Department (IMD) declared the monsoon onset over Kerala on May 24, 2025, eight days ahead of its normal date schedule of June 1. Earliest monsoon onset in over a decade (last such early arrival in 2009)

What is the Southwest Monsoon?

• Seasonal wind system that brings ~70% of India’s annual rainfall.
• Active during June to September.
• Crucial for agriculture, drinking water, hydropower, and overall economy.

Criteria for Monsoon Onset Over Kerala (IMD)

• Rainfall Criterion:
  • ≥2.5 mm rainfall for 2 consecutive days at 60% of 14 designated stations in Kerala and Lakshadweep.
• Wind Field Criterion:
  • Westerly winds up to 600 hPa with speeds of 15–20 knots at 925 hPa.
• OLR Criterion:
  • Outgoing Longwave Radiation (OLR) < 200 W/m², indicating active convection/cloud formation.

Causes of Early Monsoon in 2025

Meteorological Factor	Impact
Madden-Julian Oscillation (MJO)	Boosted convection; observed from May 13 over south Andaman Sea
Mascarene High Intensification	Directed strong moist winds from southern Indian Ocean
Convection Surge	Enhanced cloud buildup and early rainfall
Somali Jet Strengthening	Strengthened cross-equatorial flow towards Kerala
Heat Low Formation	Persistent low pressure over NW India drew in moist air
Monsoon Trough Activation	Triggered rainfall across central and northeast India

Implications of Early Monsoon Onset

Positive Outcomes:

• Early sowing of Kharif crops (e.g., paddy, pulses) in key states.
• Reservoirs replenished earlier in water-scarce regions like Karnataka, Tamil Nadu.
• Cooler summer trends in South India due to early rains.

Challenges/Risks:

• Urban Flooding Risk: Cities like Bengaluru may be unprepared for early heavy rainfall.
• Forecast Uncertainty: Early onset ≠ longer or stronger monsoon; water planning challenges.
• Weather Pattern Shifts: May alter seasonal temperature and rainfall distribution.

TH

2. Draft Registration Bill, 2025

Context:

To replace the 117-year-old Registration Act, 1908 with a modern, digital-first legal framework that enhances transparency, accessibility, and ease of property registration in India.

Key Highlights:

• Digital-First Approach:
  • Enables online registration of immovable property and related transactions.
  • Provisions for:
    • Electronic presentation and admission of documents
    • E-registration certificates
    • Digital maintenance of records
• Verification and Authentication:
  • Supports Aadhaar-based authentication.
  • Also allows for alternative verification methods for those without Aadhaar or unwilling to use it.
• Integration with Other Systems:
  • Facilitates electronic integration with other official record-keeping systems (e.g., land records, revenue databases).
• Citizen-Centric Reforms:
  • Promotes the use of plain language in legal documents.
  • Simplifies procedures for individual citizens and small businesses.
  • Ensures transparency and legal safeguards are maintained.

Administrative Context

• The Department of Land Resources under the Ministry of Rural Development has been administering the Registration Act since 2006.
• The draft bill is now open for public consultation on the department’s website.

Implications

• Aims to modernize India’s land and property registration framework.
• Improves ease of doing property-related transactions, especially for small stakeholders.
• Aligns with the government’s Digital India and Ease of Doing Business initiatives.
• Helps in curbing property frauds and improving legal enforceability of property rights.

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3. RoDTEP (Remission of Duties and Taxes on Exported Products)

Context:

Government Restores RoDTEP Scheme Benefits for AA, EOU, and SEZ Units.

Key Announcement

• Policy Change: Restoration of RoDTEP (Remission of Duties and Taxes on Exported Products) scheme benefits
• Beneficiaries:
  • Advance Authorisation (AA) holders
  • Export-Oriented Units (EOUs)
  • Special Economic Zone (SEZ) units

Background

• RoDTEP Scheme Launch: 2021
• Objective: Reimburse exporters for embedded central/state/local duties, taxes, and levies not refunded under any other scheme.
• Scheme Suspension: Benefits to AA, EOU, and SEZ units were discontinued on February 5, 2025.
• Industry Demand: Export bodies, led by FIEO, strongly lobbied for reinstatement citing competitiveness concerns.

Impact on Export Ecosystem

• Boost to Export Competitiveness: Enhances India’s ability to price exports more competitively in global markets.
• Encouragement for High-Value Sectors: Particularly beneficial for sectors operating under AA, EOU, and SEZ regimes such as pharmaceuticals, engineering goods, electronics, and textiles.
• Promotes Policy Continuity: Signals a commitment to consistent and predictable trade policy.

4. World Dugong Day 2025: Conservation of India’s Gentle Marine Grazer

Context:

World Dugong Day is observed every year on May 28 to raise awareness about dugongs (Dugong dugon), marine herbivores known as “sea cows”. Dugongs are the only herbivorous marine mammals in India, found in shallow coastal waters rich in seagrass meadows.

Dugong: India’s Sea Grazer

• Appearance: Resemble a cross between a seal and a whale; use front flippers to paddle.
• Diet: Feed exclusively on seagrass species such as Cymodocea, Halophila, Thalassia, and Halodule.
• Feeding Impact: Uproot and cloud waters while grazing; play a vital role in seagrass ecosystem maintenance.
• Range: Found in Indo-Pacific regions, including Andaman & Nicobar Islands, Gulf of Mannar, Palk Bay, and Gulf of Kachchh.
• Lifespan & Reproduction:
  • Live up to 70 years.
  • Mature at 9–10 years, calve every 3–5 years.
  • Low population growth rate of ~5% per year.

Conservation Status and Threats

• IUCN Red List: Classified as Vulnerable globally; regionally endangered in India.
• Current Population in India: Estimated at only ~200 individuals.

Major Threats:

• Habitat loss due to:
  • Seagrass degradation.
  • Coastal development, dredging, port construction.
  • Pollution from agriculture, sewage, and industry.
• Fishing hazards:
  • Accidental entanglement in gillnets and trawl nets.
  • Collisions with boats.
• Climate change:
  • Ocean warming and acidification.
  • More frequent cyclones and sea-level rise.
• Illegal poaching in remote regions.
• Lack of awareness among communities due to their elusive nature.

Conservation Initiatives in India

• Policy Level:
  • India is a signatory to the Convention on Migratory Species (since 1983) and its Dugong MoU (since 2008).
• Major Milestone:
  • In 2022, India announced its first Dugong Conservation Reserve in Palk Bay, Tamil Nadu (448.3 sq. km).
  • Contains 122.5 sq. km of intact seagrass — crucial for dugong survival.
• Led by OMCAR Foundation, Wildlife Institute of India, and TN Forest Dept.

5. 5th-Generation Fighter Jet – AMCA Programme

Context:

Defence Minister Rajnath Singh has formally approved the execution model for the Advanced Medium Combat Aircraft (AMCA) programme. The move marks a critical step in India’s quest to develop an indigenous fifth-generation stealth fighter jet, reinforcing strategic autonomy and military self-reliance.

Execution Model and Industry Participation

• The Aeronautical Development Agency (ADA) under DRDO will lead the project.

About the AMCA Fighter Jet

• The AMCA is a twin-engine, medium-weight multirole stealth fighter with the following capabilities:
  • Stealth airframe
  • Internal weapons bay
  • Sensor fusion and advanced avionics
  • Supercruise capability
• Designed for:
  • Deep penetration missions
  • Swing-role operations
  • Precision strikes and close air combat
• Projected weight: ~25 tonnes
• Will serve alongside the Tejas Light Combat Aircraft (LCA) as a key component of the Indian Air Force’s future fleet.

6. Panchayat Advancement Index (PAI) 2.0

Context:

The two-day National Writeshop on Panchayat Advancement Index (PAI) Version 2.0 for FY 2023–24 commenced at Dr. Ambedkar International Centre, New Delhi.  During the inaugural, the PAI 2.0 Portal was launched  https://pai.gov.in/ . Local Indicator Framework (LIF) Booklet for FY 2023–24 along with the Standard Operating Procedure (SOP) was also released on this occasion.

What is PAI 2.0?

• PAI (Panchayat Advancement Index) is a performance tracking tool for over 2.5 lakh Gram Panchayats across India.
• It aligns with the Localization of Sustainable Development Goals (LSDGs).
• Aims to institutionalize transparent, accountable, and evidence-based local governance.

What’s New in PAI Version 2.0?

Feature	PAI 1.0	PAI 2.0
Indicators	516	147 (↓ 72%)
Data Points	794	227 (↓ 71%)
Usability	High complexity	Streamlined, focused
Coverage	2.16 lakh GPs	Over 2.5 lakh GPs

• Reduction in reporting burden and increase in data quality and clarity.
• Supported by a PAI 2.0 portal: https://pai.gov.in
• Includes LIF Booklet and Standard Operating Procedure (SOP) for FY 2023–24.

Nine Thematic Areas in PAI 2.0 (LSDG-aligned)

• Poverty-Free and Enhanced Livelihoods Panchayat
• Healthy Panchayat
• Child-Friendly Panchayat
• Water-Sufficient Panchayat
• Clean and Green Panchayat
• Panchayat with Self-Sufficient Infrastructure
• Socially Just and Socially Secured Panchayat
• Panchayat with Good Governance
• Women-Friendly Panchayat

Significance

• Empowers Panchayats with self-assessment and planning tools.
• Promotes data-backed local development, healthy competition, and bottom-up governance.
• Will serve as a benchmark for Viksit Bharat vision and India’s Voluntary National Reviews (VNRs) at global SDG forums.

PIB

Banking/Finance

1. MoSPI to Monitor Impact of Mudra Loan Scheme

Context:

The Ministry of Statistics and Programme Implementation (MoSPI) aims to track the utilization and impact of credit access programmes such as the Pradhan Mantri Mudra Yojana (PMMY). This initiative is part of efforts to support enterprise formalisation and financial inclusion.

Surveys Involved

• Monitoring will be integrated into:
  • Private Sector Capital Expenditure (Capex) Survey
  • Annual Survey of Unincorporated Sector Enterprises

Objectives

• Assess how Mudra loans are used by micro and small enterprises.
• Evaluate the role of credit access programmes in promoting:
  • Enterprise formalisation
  • Financial inclusion

Collaboration and Data User Engagement

• National Statistical Office (NSO) and Indian School of Business (ISB) jointly organized a Data Users Conference.
• The conference aimed to enhance interaction between data producers and users for improved data relevance and survey design.

Significance

• This monitoring will help policymakers understand the real impact of Mudra loans on the informal sector.
• Supports evidence-based policymaking focused on MSME growth and formalisation.
• Aligns with India’s broader economic goals of boosting digital and financial inclusion.

2. FM Nirmala Sitharaman Signals Boost for Fintech Sector

Context:

Finance Minister Nirmala Sitharaman visited Pine Labs’ Noida office. Acknowledged fintech‘s role in enabling secure, inclusive financial services, especially for merchants and MSMEs.

Push for Digitisation Across States

• FM emphasized that the Centre is incentivizing states to digitize records faster, especially through:
  • 50-year interest-free capital expenditure loans
  • Additional incentives for early adoption of digitization
• Stressed that while there is existing momentum on the ground, efforts need to scale up significantly.

Supportive Policy Plans for Fintech and Digital Exports

• Government aims to:
  • Formulate fintech-friendly policies
  • Promote India’s fintech innovations globally
• Referenced India’s G20 Digital Public Infrastructure Taskforce report, advocating plug-and-play, sovereign-compliant digital systems (e.g., API Setu, GSTN open APIs).

BS

3. CBDT Extends Income Tax Return Filing Deadline for AY 2025-26 to September 15

Context:

The Central Board of Direct Taxes (CBDT) has extended the last date for filing Income Tax Returns (ITR) for Assessment Year (AY) 2025-26 from July 31, 2025 to September 15, 2025. The extension responds to significant revisions in ITR forms and new reporting requirements introduced by the Finance Act, 2024.

Reasons for Extension

• Extensive changes to ITR forms require more time for system readiness and rollout of updated ITR utilities.
• Tax deducted at source (TDS) credits, due by May 31, will only reflect from early June, limiting the practical window for return filing without the extension.

Key Changes in ITR Forms

• ITR1 now includes an option to report long-term capital gains (LTCG) up to ₹1.25 lakh.
• ITRs 2, 3, 5, and 6 require detailed disclosures under the Capital Gains Schedule.
• Reporting is split for transactions before and after July 23, 2024, reflecting different tax implications after changes in tax laws last year.

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4. Reserve Bank of India (Digital Lending) Directions, 2025 Issued by RBI

Context:

The Reserve Bank of India (RBI) released new digital lending norms earlier this month impacting credit guarantee schemes for MSME loans. Most MSME loans are currently covered under credit guarantee schemes which offer zero risk weight and encourage lending at competitive interest rates.

RBI Directions on Digital Lending

The Reserve Bank of India (RBI) issued comprehensive directions to regulate the digital lending ecosystem with the aim of enhancing borrower protection, promoting transparency, and ensuring responsible digital lending practices.

Key Objectives

• Strengthen borrower protection in digital financial services
• Promote transparency and accountability in digital lending operations
• Ensure responsible lending practices among regulated entities and third-party service providers
• Prevent misuse by unauthorized or rogue digital lending apps

Definition of Digital Lending

• A remote and automated lending process using digital platforms for:
  • Customer acquisition
  • Credit assessment
  • Loan approval
  • Disbursement
  • Servicing and repayment
  • Recovery of loans

Entities Covered

The directions apply to:

• Commercial Banks
• Primary (Urban)/State/Central Co-operative Banks
• Non-Banking Financial Companies (NBFCs) including Housing Finance Companies
• All-India Financial Institutions

Key Features and Provisions

Mandatory Reporting of Digital Lending Apps (DLAs)

• All regulated financial entities must report their DLAs to the RBI through the Centralized Information Management System (CIMS) Portal
• Objective: Create a public directory of legitimate digital lending apps to ensure user safety and prevent fraud

Due Diligence on Lending Service Providers (LSPs)

• Financial entities must conduct enhanced due diligence on LSPs with focus on:
  • Technical capabilities
  • Data protection and privacy standards
  • Borrower engagement conduct
  • Regulatory compliance

Role of LSPs

• LSPs act as agents of financial entities and perform various digital lending functions on their behalf
• Financial entities are fully accountable for the actions of their LSPs

Mandatory Disclosures to Borrowers

• Lenders and LSPs must provide upfront disclosures including:
  • Loan terms and conditions
  • Interest rates, fees, and charges
  • Privacy policies
  • Key Fact Statements (KFS)

Grievance Redressal Mechanism

• All LSPs must appoint a Grievance Redressal Officer (GRO)
• Borrowers must be informed of the GRO’s contact details
• Financial entities remain responsible for resolving complaints raised through LSPs

Significance

• Builds consumer trust in digital lending platforms
• Eliminates predatory lending and harassment by unauthorized apps
• Aligns with RBI’s goal of secure, inclusive, and regulated fintech development
• Supports the development of a transparent and fair digital credit ecosystem

Key Regulatory Change

• RBI guidelines now prohibit regulated entities (REs), including NBFCs, from entering into default loss guarantee (DLG) arrangements on loans covered by credit guarantee schemes.
• DLGs are contractual agreements where a third party guarantees compensation for loan defaults up to a certain percentage (usually 5%).

Implications for NBFCs and MSME Lending

• Without DLG protection, NBFCs must bear full loss on defaulted MSME loans, increasing their risk exposure and provisioning requirements.
• This is expected to lead to higher lending rates for MSMEs. For example, a loan previously priced at 12% interest might increase to around 15% due to additional loss provisions.
• NBFC officials say MSME loans, a sensitive and government-prioritized segment, will become more expensive due to loss of DLG support.

5. Deposit Insurance and Credit Guarantee Corporation (DICGC)

Context:

The Union government is considering increasing the bank deposit insurance limit from the current ₹5 lakh to potentially ₹10 lakh. Deposit insurance is provided by the Deposit Insurance and Credit Guarantee Corporation (DICGC), covering deposits in commercial and cooperative banks.

DICGC and the Deposit Insurance Amendment

Background

The Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly owned subsidiary of the RBI, has initiated verification and certification of claims from 55 insured Urban Co-operative Banks (UCBs) placed under All Inclusive Directions (AID). This is to ensure that depositors receive insured amounts (up to ₹5 lakh) within 90 days, as mandated by the DICGC (Amendment) Act, 2021.

Key Objectives

• Ensure time-bound access to insured deposits for depositors
• Strengthen depositor confidence in banking system stability
• Promote transparent resolution in bank moratorium cases
• Prevent long delays in payment of insured deposits during liquidation or reconstruction

About DICGC

Feature	Details
Established	15 July 1978
Governing Act	DICGC Act, 1961
Ownership	Wholly owned by RBI
Jurisdiction	Ministry of Finance, Government of India
Insurance Limit	₹5,00,000 per depositor (principal + interest)
Coverage	Savings, fixed, current, recurring deposits in insured banks

Banks Covered by DICGC

• Insured:
  • All Commercial Banks (including foreign bank branches in India)
  • Regional Rural Banks (RRBs)
  • Local Area Banks
  • Co-operative Banks (urban, state, central)
• Not Insured:
  • Primary Cooperative Societies
  • Deposits of foreign governments, central/state governments
  • Inter-bank deposits
  • Deposits from outside India
  • Land Development Banks with state co-op banks

What DICGC Insures

• All domestic bank deposits except:
  • Government and interbank deposits
  • Overseas deposits
  • Deposits specifically exempted by RBI and DICGC

Claim Settlement Procedure

1. Moratorium/Closure Initiated: Bank placed under moratorium or liquidation
2. List by Liquidator: Official liquidator must submit insured depositor list within 3 months
3. DICGC Payment: Pays depositors within 2 months of receiving verified list
4. Bank Repayment: Bank must repay DICGC the amount disbursed

Key Features of DICGC (Amendment) Act, 2021

1. Section 18A – Interim Payments

• Allows interim payments up to ₹5 lakh if a bank is under restriction or moratorium
• Effective from September 1, 2021
• Timeline:
  • 45 days: Bank must furnish list of depositors
  • 30 days: DICGC verifies details and confirms depositor consent
  • 15 days: DICGC disburses the payment

2. Applicability

• Applicable to past and future restrictions imposed under Banking Regulation Act, 1949
• Not applicable if:
  • RBI lifts restrictions
  • Bank can repay depositors without DICGC help

3. Extended Liability Window

• RBI may allow 90-day extension if reconstruction/merger scheme is pending

Premium and Repayment Provisions

Aspect	Provision
Premium	Paid by insured banks annually
Cap	0.15% of total deposits (can be raised with RBI approval)
Repayment by Bank	Must repay DICGC on terms set by Board
Penal Interest	Up to 2% above RBI repo rate for delays

Economy

1. India’s Economic Outlook Faces Trade Tariff Uncertainty, Sluggish FDI: Finance Ministry Review

External Risks and Trade Concerns

• The 90-day pause on the 26% US tariff on Indian exports ends on July 9, 2025, posing a renewed trade risk for India.
• A successful US-India trade agreement could offset current headwinds by:
  • Opening new export markets
  • Boosting India’s external sector
• The outcome of the US-China reciprocal tariff pause is also critical for Indian trade prospects.

Impact on Capital Flows

• Prolonged global trade uncertainties could:
  • Keep foreign portfolio investment (FPI) flows volatile through FY26
  • Lead to capital flight or reduced inflows amid tighter global financial conditions
  • Deter private investment, as firms may adopt a cautious approach

US Fiscal Developments: Global Spillover Risk

• The passage of the US Budget Bill and bond market reactions are being closely monitored, especially in light of:
  • Moody’s recent downgrade of US sovereign credit rating
  • Potential impact on global financial market stability

Foreign Direct Investment Trends

• Net FDI inflows into India in FY25 stood at a subdued $0.4 billion
  • Driven by profit repatriations by foreign investors
  • Reflects growing outward FDI by Indian firms
• Gross FDI inflows remained stable at $81 billion

Concerns Over India Inc.’s Outward Focus

• Outward FDI by Indian firms rose by nearly $12.5 billion in FY25
• The government expressed concern over:
  • India Inc.’s growing global expansion
  • Their cautious approach to domestic investment
  • The need to reinvigorate investment confidence at home

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Agriculture

1. Viksit Krishi Sankalp Abhiyan

Context:

The Viksit Krishi Sankalp Abhiyan campaign, initiated by Union Minister Shri Shivraj Singh Chouhan, is set to launch on 29th May 2025 from Puri, Odisha. The campaign will run for 15 days, concluding on 12th June 2025. Shri Chouhan will visit nearly 20 states, engaging directly with farmers, scientists, and agricultural stakeholders.

States to be Visited

• Odisha (launch)
• Jammu, Rajasthan, Gujarat, Uttar Pradesh, Bihar, Maharashtra, Haryana, Punjab, Uttarakhand, Assam, Meghalaya, Karnataka, Tamil Nadu, Telangana, Andhra Pradesh, Madhya Pradesh, Delhi, Chhattisgarh

Campaign Objectives

• Educate farmers on modern technologies for major Kharif crops, tailored region-wise.
• Raise awareness of government schemes and policies beneficial to farmers.
• Guide farmers on using Soil Health Cards for crop selection and balanced fertilizer application.
• Collect farmer feedback to support research direction and innovation in agriculture.

Organizers and Participants

• Organized by Indian Council of Agricultural Research (ICAR) and the Ministry of Agriculture & Farmers’ Welfare in collaboration with state governments.
• Engagement across 700+ districts and involving:
  • All 731 Krishi Vigyan Kendras (KVKs)
  • All 113 ICAR institutes
  • Officials from agriculture, horticulture, animal husbandry, fisheries departments
  • Progressive farmers and other stakeholders

Scale and Impact

• Expected to directly reach 1.5 crore farmers across participating states.
• Supports the vision of “Lab to Land”, aiming to translate agricultural research into practical farming benefits.
• A key step toward achieving developed agriculture and the broader vision of Viksit Bharat-2047.

PIB

2. Fertiliser Industry Demands Reform in Outdated Regulatory Framework

Context:

Industry bodies have raised concerns about India’s outdated fertiliser regulations, claiming they favour Chinese imports over domestic manufacturers, thereby undermining the “Make in India” initiative and hurting the growth of Indian startups in the sector.

Key Highlights:

• Regulatory Imbalance:
  • Under the Fertiliser Control Order (FCO), 1955, domestic firms must obtain multiple state-level licences and maintain offices and warehouses across states.
  • Foreign suppliers, however, face minimal compliance, needing only import permissions to operate pan-India.
• Discrimination Against Local Products:
  • A PSU tender for soluble fertilisers explicitly excluded “Made in India” products, as per the Soluble Fertilizer Industry Association (SFIA).
• Overregulation and Harassment:
  • Up to 32 FCO inspectors can monitor a single domestic unit, leading to excessive scrutiny.
  • No comparable level of inspection exists even in sectors like pharmaceuticals.
• Impact on Innovation:
  • Overregulation hampers grassroots innovation and discourages startups.
  • Fertilisers, especially soluble ones crucial for horticulture, remain outside the broader “Import Substitution” and “Make in India” momentum seen in electronics, defence, etc.

Key Demands from Industry Bodies

1. “One Nation, One Licence” for non-subsidised fertilisers to ease market access.
2. Capping inspector numbers to a maximum of two per unit.
3. Regulatory parity between foreign and Indian manufacturers.
4. A new legal framework for non-subsidised fertilisers, delinking them from the Essential Commodities Act.
5. Permission for Indian marketers to source in one state and sell across India.

Significance

• Atmanirbhar Bharat Goal: Reforming FCO can reduce import dependence, especially for fertilisers used in fruit and vegetable production (currently 5 lakh tonnes imported).
• Boost to Domestic Production: Simplified norms can encourage Indian manufacturers to scale up, innovate, and compete globally.
• Urgent Need for Policy Change: Aligning fertiliser regulations with modern industrial policy is essential for fostering self-reliance and rural sector growth.

3. BASF Launches Valexio and Mibelya to Boost Indian Rice Production

Context:

BASF has introduced two new agrochemical solutions—Valexio (insecticide) and Mibelya (fungicide)—to support Indian rice farmers in improving yield quality and quantity, especially in the face of climate-related challenges.

Key Highlights:

• Product Launch:
  • Valexio: Insecticide designed to manage rice hoppers, a major pest affecting rice crops.
  • Mibelya: Fungicide aimed at controlling sheath blight, a common rice disease.
• Technological Advantage:
  • Valexio contains an active ingredient with no known cross-resistance to existing market products.
  • Offers long residual control and effectiveness across all damaging life stages of rice hoppers.
  • Also provides plant health benefits, enhancing the resilience of rice crops.

Significance for Indian Agriculture

• India’s Global Role:
  • Second-largest rice producer globally.
  • Contributes to 40% of global rice trade with an annual output of over 100 million metric tons.
• Climate Impact:
  • Erratic weather, drought, and increased pest/disease incidence have reduced yields and quality.
  • These new products aim to mitigate climate-related threats to rice farming.
• Sustainable Agriculture Push:
  • BASF emphasizes sustainability and resilience through innovation.
  • The launch aligns with global efforts to ensure food security amid rising climate variability.

BL

Science & Tech

1. India’s First Gene-Edited Sheep Developed Using CRISPR-Cas9 Technology

Context:

Scientists at Sher-e-Kashmir University of Agricultural Sciences and Technology (SKUAST), Kashmir have developed India’s first gene-edited sheep using CRISPR-Cas9 technology. The gene editing targets the myostatin gene, which regulates muscle growth, resulting in a sheep with approximately 30% greater muscle mass compared to normal sheep.

Key Details

• The mutated gene in the lamb enhances muscle weight, producing heavier offspring than non-mutated counterparts.
• The gene-edited lamb is currently three months old; its DNA will be sent to foreign research labs for further verification.
• The enhanced muscle trait is naturally absent in Indian sheep breeds but known in European breeds like the Texel.

Context and Regulatory Outlook

• Recently, Union Agriculture Minister Shivraj Singh Chouhan released India’s first gene-edited rice varieties developed using the same CRISPR-Cas9 technology by ICAR scientists.
• The gene-edited sheep contains no foreign DNA, differentiating it from transgenic organisms.
• This distinction facilitates regulatory approval under India’s evolving biotech policy framework.

Awards

1. Padma Awards 2024

Padma Vibhushan Awardees (2nd Highest Civilian Award):

• Justice J.S. Khehar (Retd) – Former Chief Justice of India
• Late Sharda Sinha – Legendary folk singer (posthumous)
• Late Kumudini Lakhia – Renowned Kathak dancer (posthumous)
  • Awards received by their respective family members

Padma Bhushan Awardees (3rd Highest Civilian Award):

• Shobana Chandrakumar – Acclaimed dancer and actor
• Nalli Kuppuswami Chetti – Industrialist and philanthropist
• Kailash Nath Dikshit – Noted archaeologist
• Jatin Goswami – Prominent Sattriya dance exponent
• Anant Nag – Veteran actor
• Sadhvi Ritambhara – Spiritual leader
• Late Bibek Debroy – Economist (posthumous)
  • Award received by his wife
• Late Manohar Joshi – Former Lok Sabha Speaker & Maharashtra CM (posthumous)
  • Award received by his son

Padma Shri Awardees (for distinguished service):

• Dr. Soniya Nityanand – Vice-Chancellor, King George’s Medical University
• I.M. Vijayan – Legendary Indian footballer
• Ricky Kej – Grammy-winning music composer
• Ashwini Bhide Deshpande – Hindustani classical vocalist
• Ashok Laxman Saraf – Popular film actor
• Barry John – Veteran theatre artist and mentor
• Mamata Shankar Ghosh – Renowned dance choreographer
• Reba Kanta Mahanta – Traditional mask-maker
• Velu Aasan – Traditional Parai percussionist
• Sajjan Bhajanka – Entrepreneur
• Sant Ram Deswal – Writer
• Farooq Ahmad Mir – Prominent figure in social service

Facts To Remember

1. Anil Kumble to be named as Forest, Wildlife ambassador

Former cricketer Anil Kumble will be nominated as the Forest and Wildlife Ambassador, Forest, Biology and Environment Minister Eshwar. B. Khandre said.

2. Om Birla nominates three LS members to Press Council

Lok Sabha Speaker Om Birla has nominated three members to the Press Council of India, including BJP leader Sambit Patra, Shiv Sena’s Naresh Mhaske, and Congress’s Kali Charan Munda. 

3. EU approves €150 billion loan to rearm amid times of uncertainty

EU countries on Tuesday formally approved a new €150-billion loan programme to help rearm in the face of Russia and worries over U.S.

4. Gulveer clinches India’s first gold

India’s best track athlete this season so far, Gulveer Singh continued his impressive performance with the country’s first gold at the Asian Athletics Championships, winning the 10,000m on the opening day of the competition in Gumi, South Korea.

5. Rising Outward FDI and Declining Reinvested Earnings Raise Concerns for India’s Net FDI

The share of repatriation and disinvestment in India’s gross FDI inflows has surged from about 25% in 2019-20 to 63% in 2024-25. Foreign inve