CURRENT AFFAIRS
31 January, 2025
1. FISCAL HEALTH INDEX 2025 –
• In a bid to enhance fiscal governance, National Institution for Transforming India (NITI Aayog) launched its inaugural Fiscal Health Index (FHI) 2025.
• The Index provides a comprehensive evaluation of the fiscal health of 18 major Indian states for 2022-23, offering data-driven insights that will guide policy interventions at the state level.
Fiscal Health Index (FHI)-
• The Fiscal Health Index (FHI) is an assessment tool to evaluate the fiscal health of Indian states and highlights specific areas for improvement.
• Parameter: FHI ranks states based on five key sub-indices.
• Quality of Expenditure: Measures the proportion of spending on long-term growth (developmental) vs. routine operations (non-developmental).
• Assesses capital investments as a share of economic output.
• Revenue Mobilization: Reflects a state’s ability to generate its own revenue and cover its expenditures independently.
• Fiscal Prudence: Tracks deficits (fiscal and revenue) and borrowing relative to economic output, signaling fiscal health.
• Debt Index: Assesses the state’s debt burden, focusing on interest payments and liabilities relative to economic size.
• Debt Sustainability: Compares Gross State Domestic Product (GSDP) growth to interest payments, with a positive difference indicating fiscal sustainability.
2. ISRO’S 100TH LAUNCH FROM SDSC –
• The Indian Space Research Organisation (ISRO) achieved its historic 100th launch from the Satish Dhawan Space Centre (SDSC) in Sriharikota, using the GSLV-F15 to deploy the NVS-02 satellite.
• NVS-02 is the 2nd satellite in the series of 2nd generation satellites of the Navigation with Indian Constellation (NavIC).
• The NavIC system is made up of 7 operational satellites in orbit (3 in Geostationary Orbit and 4 in Geosynchronous Orbit).
• NavIC provides accurate position, velocity, and timing to users in the Indian sub-continent and regions up to 1,500 km beyond.
• The GSLV-F15 is the 17th GSLV flight, and 11th with an Indigenous Cryogenic stage.
• The first launch from SDSC took place in August 1979 carrying the Rohini Technology Payload (partially successful).
• Key Launches of ISRO include Chandrayaan-1 (2008), Mars Orbiter Mission (2013), PSLV-C37 (2017, World record: 104 satellites launched), Chandrayaan-2 (2019), and Chandrayaan-3 (2023), Aditya-L1 (2023).
3. ECONOMIC SURVEY 2025: WHO WILL PRESENT IT, KEY HIGHLIGHTS, AND WHY IT MATTERS –
• Economic Survey 2025 is a pivotal document that provides a comprehensive overview of India’s economic performance over the past year and sets the tone for future policy directions.
• Traditionally, this survey is presented in Parliament on January 31, a day before the Union Budget is unveiled. This year, Finance Minister Nirmala Sitharaman is expected to table the Economic Survey 2025 in the Lok Sabha.
4. MARTYRS’ DAY 2025: REMEMBERING MAHATMA GANDHI ON HIS DEATH ANNIVERSARY –
• Martyr’s Day, observed on January 30 each year, holds deep significance in India as it marks the death anniversary of Mahatma Gandhi, the leader of the country’s nonviolent freedom struggle.
• This day is dedicated to remembering not only Gandhi’s sacrifice but also the countless others who gave their lives for India’s independence.
• In 2025, this will mark the 77th year since his death. It serves as a reminder of the nation’s gratitude and commitment to preserving the values of freedom and patriotism.
5. RAILWAY BUDGET SEPARATION: WHY IT WAS MERGED WITH UNION BUDGET IN 2017 –
• On February 1, Union Finance Minister Nirmala Sitharaman will present the Union Budget for the upcoming fiscal year, outlining India’s financial strategy and priorities.
• The Union Budget, as it stands today, is a comprehensive document detailing India’s expenditure and revenue collection. However, this was not always the case. Before 2017, the Railway Budget was a separate entity, a practice inherited from colonial times. It was only in 2017 that then Finance Minister Arun Jaitley and Railway Minister Suresh Prabhu merged the Railway Budget with the Union Budget, marking a historic shift in India’s budgetary process.
• The Railway Budget was separated from the Union Budget in 1924, following the recommendations of the Acworth Committee. This separation was intended to give the Indian Railways greater financial autonomy and focus on its development as a critical infrastructure asset.
• For over 92 years, the Railway Budget was presented a few days before the Union Budget, allowing it to function as a distinct financial entity.
MCQ QUIZ
Q1. Which state won the best tableau award at the 76th Republic Day 2025 ?
a) Uttar Pradesh
b) Punjab
c) Himachal Pradesh
d) Rajasthan
Q2. Kanha Tiger Reserve is located in which state ?
a) Madhya Pradesh
b) Odisha
c) Rajasthan
d) Gujarat
Q3. Which Indian cities have been included in the inaugural Wetland City Accreditation list of cities under the Ramsar Convention on Wetlands ?
a) Bhopal and Jaipur
b) Indore and Udaipur
c) Chennai and Bengaluru
d) Delhi and Kolkata
Q4. Which of the following statements about the NVS-02 satellite is correct ?
1. The NVS-02 satellite is part of the second-generation NavIC system, designed to improve the accuracy and reliability of India’s satellite navigation capabilities.
2. The NVS-02 satellite was launched by the PSLV-C30 rocket from the Satish Dhawan Space Centre.
3. The satellite is equipped with a Rubidium Atomic Frequency Standard (RAFS), ensuring precise timekeeping for accurate navigation.
4. NVS-02 will replace the older NavIC satellite, IRNSS-1E, and operate at 111.75°W in orbit.
Choose the correct answer using the codes below:
a) 1 and 3 only
b) 2 and 4 only
c) 1, 3, and 4 only
d) 1, 2, and 3 only
Explanation-
Statement 1 is correct: NVS-02 is part of the second-generation NavIC system, aimed at improving the accuracy and reliability of satellite navigation.
Statement 2 is incorrect: The NVS-02 satellite was launched by the GSLV-F15 rocket, not the PSLV-C30 rocket.
Statement 3 is correct: The satellite is equipped with a Rubidium Atomic Frequency Standard (RAFS), which is crucial for precise timekeeping.
Statement 4 is incorrect: NVS-02 will replace the IRNSS-1E satellite, but it will operate at 111.75°E, not 111.75°W.
Q5. Which of the following statements about Joint Parliamentary Committees (JPCs) is correct ?
1. A JPC is set up through a motion passed in one house of Parliament and must be agreed to by the other house.
2. Members of a JPC include only MPs from the Lok Sabha.
3. JPCs are permanent bodies that function continuously throughout the year.
4. JPC recommendations have binding legal power, compelling the government to act on them.
Choose the correct answer using the codes below :
a) Only 1
b) 1 and 3 only
c) Only 1 and 4
d) 2 and 3 only
Explanation-
Statement 1 is correct: A JPC is indeed set up through a motion passed in one house of Parliament, with the agreement of the other house.
Statement 2 is incorrect: A JPC includes MPs from both Lok Sabha and Rajya Sabha, not just Lok Sabha.
Statement 3 is incorrect: JPCs are ad-hoc bodies, meaning they are formed for specific tasks and not permanent or continuous.
Statement 4 is incorrect: JPC recommendations have persuasive value but cannot compel the government to act on them, though the government must report follow-up actions.
Answer Key
1 | 2 | 3 | 4 | 5 |
A | A | B | A | A |