CURRENT AFFAIRS
05 February, 2025
1. INDIA HAS MADE REMARKABLE PROGRESS IN INFRASTRUCTURE DEVELOPMENT OVER THE PAST DECADE THAT IS THE BACKBONE OF ECONOMIC DEVELOPMENT. –
• The total infrastructure investment (capital expenditure) in India has increased to Rs 11.2 lakh crore in 2025-26 from Rs 10 lakh crore in 2023-24.
What Infrastructure Initiatives were Announced in Budget 2025-26?
• Infrastructure Financing: Rs 10 lakh crore worth of assets would be monetised in the next 5 years (2025-30) under the National Monetisation Plan.
• Urban Challenge Fund of Rs 1 lakh crore will be set up to implement the proposals for ‘cities as growth hubs’, ‘creative redevelopment of cities’ and ‘water and sanitation’.
• Government to provide certainty in taxation of Alternative Investment Funds (AIFs) in infrastructure.
• States to propose projects funded by India Infrastructure Project Development Fund (IIPDF) loans.
• Railways: India aims to become the 2nd-largest cargo-carrying railway in the world after China and producing indigenous high-speed ‘bullet’ trains.
• Indian Railways will complete 100% electrification of its network in FY 2025-26.
• Shipbuilding: A Rs 25,000 crore fund will be established to support the maritime industry, promoting competition and long-term financing.
2. GRAMEEN CREDIT SCORE –
• Union Budget 2025-26 has introduced the Grameen Credit Score (GCS) framework to address the credit needs of Self Help Groups (SHGs) and rural populations.
Grameen Credit Score-
• About: It is developed by public sector banks to assess the creditworthiness of rural individuals, facilitating easier access to loans.
• It aims to improve repayment discipline and reduce fraud by providing a more accurate evaluation of borrowers in rural areas.
• Impact: It will strengthen microfinance, boost financial inclusion, and support sectors like agriculture, rural development, and MSMEs.
• GCS will complement existing microfinance models and work alongside credit scores like CIBIL and CRIF Highmark for assessing loans.
• This score will be integrated with the SVAMITVA Scheme.
3. TROPEX-25: SHOWCASING INDIA’S MARITIME POWER AND JOINT MILITARY READINESS –
• TROPEX-25, or the Theatre Level Operational Readiness Exercise 2025, is one of the most significant military exercises conducted by India, with the Indian Navy at its core.
• This biennial exercise is designed to showcase jointness among the armed forces, demonstrate India’s ability to address challenges, and project power in the Indian Ocean Region (IOR).
• Held in January 2025, TROPEX-25 underscores India’s evolving military doctrine, emphasizing integrated operations, fleet coordination, and rapid response capabilities.
4. LARGEST FOX NUTS PRODUCING STATE IN INDIA –
• Fox nuts, also known as Makhana, are an important crop in India. They are widely used in snacks, sweets and religious offerings. Grown in water bodies, these nutritious seeds are packed with protein and antioxidants. A particular Indian state is the largest producer of fox nuts, contributing significantly to the country’s supply. Its suitable climate and traditional farming methods make it ideal for large-scale production.
Fox Nuts Production in India
• India produces around 1,20,000 metric tons of fox nuts (makhana) from 15,000 hectares of land. After processing, this gives about 40,000 metric tons of popped makhana. Bihar is the largest producer, contributing nearly 90% of the total production.
• Bihar is the largest producer of fox nuts, also called makhana, in India. It contributes about 90% of the world’s total makhana production. This special seed comes from the water lily plant and is widely used in Indian cuisine, especially during fasting.
• Farmers in Bihar have been growing makhana for a long time, and with new farming techniques, production has increased significantly.
5. RUSSIAN LAWMAKER VYACHESLAV VOLODIN’S OFFICIAL VISIT TO INDIA –
• Russian Lawmaker Vyacheslav Volodin, the Chairman of the State Duma of Russia, arrived in India on February 3, 2025, for a crucial official visit. The visit aims to further enhance the strategic relationship between Russia and India, which has continued to evolve in recent years.
• Volodin’s discussions with Indian leaders will focus on strengthening ties in various sectors, such as economic growth, education, technology, and cultural exchanges, while also pushing for deeper inter-parliamentary cooperation.
• This visit signals the continued importance of the Russia-India relationship in the current global context.
MCQ QUIZ
Q1. Which organization has developed India’s man-portable air defense missile system called VSHORADS?
a) Defence Research and Development Organisation (DRDO)
b) Indian Space Research Organisation (ISRO)
c) Hindustan Aeronautics Limited (HAL)
d) Bharat Dynamics Limited (BDL)
Q2. What is the theme of World Cancer Day 2025 (4th Feb) ?
a) Debunk the Myths
b) Close the Care Gap
c) United by Unique
d) We Can. I Can
Q3. What is the name of mission recently announced by Indian government for development of small modular reactors (SMRs) ?
a) Atmanirbhar Nuclear Mission
b) Green Energy Nuclear Plan
c) Nuclear Energy Mission
d) Sustainable Atomic Energy Plan
Q4. Assertion(A): The U.S. imposition of tariffs on Canada, Mexico, and China could lead to a trade war that disrupts global trade relations.
Reason(R): Trade wars starts when each country retaliates by imposing higher tariffs or other trade barriers.
Which of the options given below is/are correct?
a) Both A and R are true and R is the correct explanation for A.
b) Both A and R are true but R is not the correct explanation for A.
c) A is true, while R is false.
d) A is false, while R is true.
Explanation-
Assertion is true: The U.S. imposition of tariffs on Canada, Mexico, and China could lead to a trade war that disrupts global trade relations.
Reason also true: When the U.S. imposes tariffs on its major trade partners, such as Canada, Mexico, and China, these countries will respond with their own tariffs. This back-and-forth escalation of tariffs can create a trade war, where the global flow of goods is impeded, and both countries involved face higher costs. Thus Both A and R are true and R is the correct explanation for A.
Q5. Consider the following statements with reference to Union Budget 2025-2026:
1. The FDI limit for the insurance sector is increased from 74% to 100% for companies that invest their entire premium in India.
2. Fiscal deficit is targeted at 4.4% of GDP in 2025-26.
3. Individuals earning up to ₹12 lakh annually will not have to pay income tax under the new tax regime.
4. The Makhana Board in Uttar Pradesh will be established to improve production.
Which of the statements given above are correct?
a) 1, 2 and 3 only
b) 2 and 3 only
c) 4 only
d) 1, 3 and 4 only
Explanation-
Statement 1 is correct. As per the Union Budget 2025-2026, there has been increase in the FDI limit for the insurance sector to 100% in exchange for investing premiums within India.
Statement 2 is correct. The Union Budget 2025-2026 has set the fiscal deficit target at 4.4% of GDP, reflecting the government’s approach to maintaining fiscal consolidation while addressing economic priorities.
Statement 3 is correct. Individuals earning up to ₹12 lakh annually will not have to pay income tax under the new tax regime.
Statement 4 is incorrect. Makhana Board will be established in Bihar, and not in UP.
Answer Key
1 | 2 | 3 | 4 | 5 |
A | C | C | A | A |