Budget 2025-26 & Economic Policy
- Finance Minister Nirmala Sitharaman presented the budget for the 8th time on February 1.
- Goals of "Viksit Bharat" (Developed India):
- Freedom from poverty.
- 100% schooling.
- Excellent, affordable, and accessible healthcare facilities.
- 100% skilled workforce.
- 70% female participation in economic activity.
- India as the "Food Basket of the World."
- Four Engines for the Budget 2025-26 Journey: Agriculture, MSME, Investment, Export.
- Fuel (Eedhan): Reforms.
- Guidance (Margdarshak): Inclusivity.
- Destination (Gantavya): Viksit Bharat.
Agricultural Initiatives
- PM Dhan Dhanya Krishi Yojana: Launched in 100 districts to increase agricultural productivity, aiming to benefit 1.7 crore farmers.
- Dalhan Aatmanirbharta Mission (Self-reliance in Pulses): A 6-year mission focusing on Tur (Arhar), Urad, and Masoor pulses.
- Makhana Board: To be established in Bihar.
- Cotton Production Mission: A 5-year mission to promote quality cotton production.
- Kisan Credit Card (KCC) Limit: Increased from ₹3 lakh to ₹5 lakh.
- Urea Plant: To be established in Namrup, Assam, with a production capacity of 12.7 lakh metric tons.
MSME (Micro, Small, Medium Enterprises) Reforms
- Revised MSME Definition:
- Investment: Micro (Up to ₹2.5 crore), Small (Up to ₹25 crore), Medium (Up to ₹125 crore).
- Turnover: Micro (Up to ₹10 crore), Small (Up to ₹100 crore), Medium (Up to ₹500 crore).
- Credit Card for Micro Enterprises: ₹5 lakh limit, available on the Udhyam Portal.
- National Manufacturing Mission: To boost manufacturing in footwear, toy, and food processing industries.
Investment & Innovation
- Atal Tinkering Labs: 500 new labs to be established in government schools over the next 5 years.
- Indian Language Book Scheme: Digital books in Indian languages for school and higher education, accessible online.
- National Skill Excellence Centers: Five centers to be established for "Make for India" and "Make for the World."
- AI in Education: ₹500 crore allocated for an AI Excellence Center.
Healthcare
- Cancer Care: Cancer medicines made cheaper; every district hospital will have a Day Care Cancer Center within three years.
Infrastructure & Environment
- Jal Jeevan Mission: Extended till 2028.
- Maritime Development Fund: Government to contribute 49%.
- UDAN Scheme: 120 new destinations to be explored for connectivity over the next 10 years.
- Bihar Projects: Greenfield Airport and West Kosi Canal Project in Mithilanchal region.
Culture & Heritage
- Gyan Bharatam Mission: To conserve over 1 crore handwritten manuscripts.
Export Sector
- Bharat Trade Net Platform: Launched to improve supply chain efficiency for exports.
Financial Reforms & Data (Budget 2025-26)
- FDI Limit in Insurance Sector: Increased from 74% to 100%.
- Fiscal Deficit (as % of GDP):
- 2024-25 (Estimated): 4.8%
- 2025-26 (Estimated): 4.4%
- Tax Exemption: 36 life-saving drugs (for rare diseases, cancer, serious illnesses) exempted from tax.
- New Income Tax Regime: A new Income Tax Bill to be introduced, replacing the 1961 bill.
- New Income Tax Slabs (up to ₹12 lakh tax-free):
- ₹0-4 lakh: 0%
- ₹4-8 lakh: 5%
- ₹8-12 lakh: 10%
- ₹12-16 lakh: 15%
- ₹16-20 lakh: 20%
- ₹20-24 lakh: 25%
- Above ₹24 lakh: 30%
- Where the Rupee Comes From (Top 3):
- Borrowings: 24%
- Income Tax: 22%
- GST: 18%
- Where the Rupee Goes (Top 2 Expenses):
- States' Share in Taxes & Duties: 22%
- Interest Payments: 20%
- Top Spending Sectors (Ranked):
- Defence
- Rural Development
- Home Ministry
- Agriculture & Allied Sectors
International Current Affairs
- NASA & IBM AI Model "Surya":
- Developed by NASA and IBM to predict solar storms 2 hours in advance.
- The model utilizes 4 years of past data for prediction.
- India's Aditya L1 Mission was launched by PSLV C57 to the L1 Lagrange point.
- World Competitiveness Ranking 2025 (IMD):
- India's Rank: 41st (out of 69 countries).
- Previous Rank (2024): 39th.
- Top Country: Switzerland; 2nd: Singapore.
- Kerala's Digital Literacy:
- Kerala declared India's first 100% digitally literate state on August 21.
- Definition: At least one person in a family knows how to operate a computer and use the internet.
- Program: "Digi Keralam".
- Kerala recognized internet as a basic necessity.
- Mizoram is India's first fully functionally literate state (achieved through the "ULLAS" program).
- NATO's Logistics Headquarters:
- Established in Enköping city, Sweden.
- Purpose: Strengthen security and deterrence capabilities as a backup plan.
- Sweden became NATO's 32nd member in 2024.
- NATO (North Atlantic Treaty Organization) formed in 1949, with headquarters in Brussels, Belgium.
- Article 5: An attack on one member is an attack on all.
- Current Head: Mark Rutte.
- India-China Trade via Lipulekh Pass:
- India and China agreed to resume trade via Lipulekh Pass (Uttarakhand).
- India rejected Nepal's claim over Lipulekh Pass.
- The dispute with Nepal is over the Mahakali (Sharda) river, which changes its course.
- Iran's "Sustainable Power 10404" Missile Exercise:
- A missile exercise launched by Iran to demonstrate its naval capabilities.
- Conducted in the Oman Sea and Northern Indian Ocean amidst ongoing regional tensions.
- India conducted "Operation Sindh" to evacuate stranded Indians from Iran.
National Current Affairs
- Lalit Kala Akademi Award:
- Awarded to Premchand Pukhrambam, a sculptor from Manipur, for his sculpture "Made Me Change."
- Lalit Kala Akademi was established in 1954, with its headquarters in New Delhi, and founded by Maulana Abul Kalam Azad.
- Manipur is currently under President's Rule; Governor: Ajay Kumar Bhalla.
- Olive Ridley Turtles Conservation (Tamil Nadu):
- Tamil Nadu announced the second Marine Elite Force in Chennai to protect Olive Ridley turtles. The first force was in Ramanathapuram.
- Olive Ridley turtles come to Odisha (Gahirmatha, Rushikulya Beach) for mass nesting, known as Arribada.
- The force aims to prevent illegal fishing nets that harm turtles.
- Pampa River Conservation (Kerala):
- The Central government will include the Pampa River (Kerala) under the National River Conservation Plan (NRCP), which started in 1995 to prevent river pollution.
- Pampa River is considered the "Ganga of Kerala" or "Southern Bhagirathi" and is sacred for pilgrims visiting Sabarimala Temple.
- Other important Kerala rivers include Bharathapuzha and Periyar (on which the Idukki Dam is built).
- Indian Boxing Federation President:
- Ajay Singh re-elected for the third consecutive time.
- General Secretary: Pramod Kumar.
- Notable Mentions:
- Minerals classified as major minerals: Mica, Barytes, Feldspar, Quartz.
- First International Conference on Carbon Market (Prakriti) in Delhi.
- First Indian film to win John Cassavetes Award (USA): "Girls Will Be Girls."
- Robotic Moon Lander Athena by Intuitive Machines.
- DRDO/Indian Navy's first anti-ship missile: NASM-SR.
- NASA's Punch Mission is for the Sun.
- SAP Global Sustainability Ranking: Yes Bank (only Indian bank included).
- USA designated English as its official language.
- Desert Hunt 25 (Tri-service exercise) in Rajasthan.
- "Diya Salai" autobiography by Kailash Satyarthi.
- First quantum chip Ocelot by Amazon.
- First urban body focusing on climate budget: Ahmedabad.
- Vanatara (Animal welfare) by Anant Ambani in Gujarat.
- Khelo India Para Games 2025 in Delhi (mascot Ujjwala).
- Sharath Kamal (table tennis) retired from international career.
- Shaurya Vedna Utsav in Bihar.
- 24th World Sustainable Development Summit 25 in Delhi.
- Chapchar Kut festival in Mizoram.
- India's first commercial space surveillance satellite: Digantara.
- RISE app for child immunization launched by Uttar Pradesh.
- Assam is to launch its own satellite.
- Grand Commander of the Indian Ocean, the highest honor of Mauritius, was awarded to the Prime Minister.
- Corpat Bongosagar exercise was held between India and Bangladesh.
- Champa Raspeda of Odisha's Didai tribe became the first to pass NEET 2025.