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NATIONAL AFFAIRS
Union FM Nirmala Sitharaman Launches Mobile App for PMIS
On March 17, 2025, Union Minister Nirmala Sitharaman, the Ministry of Finance (MoF), and the Ministry of Corporate Affairs (MoCA) launched a dedicated mobile application (App) for the Prime Minister’s Internship Scheme (PMIS) in New Delhi (Delhi).
- The app is designed to simplify access to internship opportunities for young people in India and increase industry involvement.
- Furthermore, Union Minister Nirmala Sitharaman also inaugurated the first facilitation center for PMIS in Kolkata, West Bengal(WB). This center has been established through a collaboration between the MoCA and New Delhi(Delhi) based Confederation of Indian Industry (CII).
Key Features of the PMIS App:
- Intuitive User Interface: For smooth navigation and a clear layout.
- Easy Registration: Candidates can register using Aadhaar face authentication.
- Effortless Navigation: Opportunities can be filtered by location and other parameters.
- Personalized Dashboard: Tailored updates for each user.
- Real-Time Alerts: Notifications about new internship opportunities.
About Prime Minister’s Internship Scheme (PMIS) :
The PMIS was announced in the Union Budget 2024-25 to provide 1 crore youth with internship opportunities in the top 500 companies in India over five years, helping them develop skills, gain professional experience, and advance their careers.
- The scheme aims to bridge the gap between industry requirements and youth skills.
Progress of the Pilot Project of the PMIS Scheme:
- Round-I: Launched from October to December 2024, over 1.27 lakh opportunities were posted by 280 companies across 25 sectors in 745 districts. More than 82,000 offers were extended to candidates.
- Round-II: Began in January 2025, with 327 companies posting over 1.18 lakh opportunities. The application window remains open until the end of March 2025.
Eligibility and Benefits:
i.Target Group: Youth aged 21 to 24 who are not enrolled in full-time academic education or employment.
ii.Financial Assistance: Each intern will receive Rs. 5,000 per month and a one-time payment of Rs. 6,000.
iii.Corporate Contribution: Companies are expected to cover training costs and 10% of internship expenses through their Corporate Social Responsibility (CSR) funds.
NAI’s 135th Foundation Day: Exhibition on Indian Architecture, Book Launch & ‘Gyan Bharatam Mission
On 11 March 2025, the National Archives of India (NAI) based in New Delhi, Delhi celebrated its 135th Foundation Day by organizing an exhibition titled “Indian Heritage through Architecture.” The event was inaugurated by Union Minister Gajendra Singh Shekhawat, Ministry of Culture(MoC) and Ministry of Tourism(MoT).
i.As part of the celebrations, NAI launched a book titled ‘Thumb Printed: Champaran, Indigo Peasants Speak to Gandhi Volume III,’ documenting 423 testimonies from the Champaran Satyagraha, including accounts from women and minors.
ii.The exhibition showcased India’s architectural heritage, featuring structures from the Indus Valley Civilization, medieval temples, Mughal monuments, and colonial-era buildings, highlighting the nation’s cultural, spiritual, and historical evolution
iii.NAI is undertaking the world’s largest digitization initiative, preserving more than six lakh pages each month and digitizing lakhs of records every day.
- The success of this digitization effort has led to the launch of the ‘Gyan Bharatam Mission’, which aims to make India’s historical knowledge more accessible.
Note: The NAI, under the MoC, was founded on 11 March 1891 in Kolkata (Calcutta)West Bengal (WB) as the Imperial Record Department. After the capital moved to Delhi in 1911, a new building, designed by Sir Edwin Lutyens, was completed in 1926, and records were fully relocated by 1937.
INTERNATIONAL AFFAIRS
UNCTAD Report: India, China Saw Strong Trade Growth in Q4 2024 Amid Risks
In March 2025, Geneva (Switzerland)-based United Nations Conference on Trade and Development (UNCTAD) released its latest Global Trade Update (March 2025) report. As per the report, Developing countries, specifically China and India saw better than average trade expansion in the 4th Quarter (Q4) of 2024. In contrast to it, many developed countries experienced contractions during the same period.
- The report highlighted that trends like increasing deficits in countries like: the United States of America (USA), the European Union (EU), India, among others, amid changing energy tariffs, restrictions or investment shifts could possibly increase the economic uncertainty.
i.The report revealed that developing economies outpaced developed countries, with imports and exports increasing to 4% for the year and 2% in Q4 of 2024, attributed mainly by East and South Asia region.
ii.The report showed that global trade saw significant expansion to USD 33 trillion in 2024, an increase of 3.7% (USD 1.2 trillion) from 2023, driven by developing economies and strong services trade, except for regions like: Europe and Central Asia.
iii.The report showed that India registered an 8% quarterly imports growth in goods trade in Q4 2024 compared to last quarter and Y-O-Y imports growth of 6%.
About United Nations Conference on Trade and Development (UNCTAD):
Secretary-General- Rebeca Grynspan(Costa Rica)
Headquarters- Geneva, Switzerland
Established- 1964
>> Read Full News
BANKING & FINANCE
Piramal Capital & Housing Finance partners with Punjab & Sind Bank to Enhance Rural and Semi-Urban Lending
In March 2025, Mumbai (Maharashtra) based Piramal Capital & Housing Finance Limited (PCHFL) (Piramal Finance) has entered into a strategic co-lending partnership with Punjab & Sind Bank, a public sector bank headquartered in New Delhi (Delhi), to enhance credit availability for middle- and low-income borrowers, focusing primarily on underserved areas like rural and semi-urban regions across India.
- The partnership aims to assist micro, small, and medium enterprises (MSMEs) and people seeking home loans.
i.The agreement aims to offer tailored credit solutions with attractive interest rates, especially targeting Tier 2 and Tier 3 cities to improve access to formal loans.
ii.Punjab & Sind Bank, with its 1,575 branches, brings extensive financial expertise, while Piramal Finance, with over 514 branches covering 13,000 pin codes, serves 4.5 million customers across 26 states.
- Together, the partnership blends robust underwriting practices with advanced credit evaluation tools to provide efficient credit solutions.
SEBI Cuts Rights Issue Timeline to 23 Days for Faster Fundraising
In March 2025, The Securities and Exchange Board of India (SEBI) headquartered in Mumbai, Maharashtra has reduced the timeline for completing rights issues from 126 days to just 23 days. This is a major improvement compared to the current average timeline of 317 days. The new rule will be effective from April 7, 2025.
i.Rights issues must remain open for 7 to 30 days. The verification of application bids and the finalization of allotments will now be handled by stock exchanges (SE), depositories, and registrars.
- Additionally, exchanges and depositories must develop an automated validation system within six months to streamline the process.
ii.To simplify the process, SEBI has streamlined the Letter of Offer (LoF), requiring only key details such as the purpose of the issue, price, record date, and entitlement ratio.
- A monitoring agency must now oversee the usage of funds raised from all types of rights issues. Previously, issuers raising less than Rs 50 crore through rights issues were not required to appoint a monitoring agency.
iii.With the new system, companies can raise funds faster than the preferential allotment route, which takes 40 working days, making rights issues more efficient and investor-friendly.
Note: A rights issue is an invitation to existing shareholders to purchase additional shares of the company at a discounted price within a specified period.
ECONOMY & BUSINESS
OECD Revises India’s GDP Growth Forecast to 6.4% for FY 2024-25
On March 17, 2025, Paris (France) based Organisation for Economic Co-operation and Development (OECD) adjusted India’s Gross Domestic Product (GDP) growth forecast for Financial Year 2024-25(FY25), to 6.4%, slightly up from 6.3% in FY24.
- This marks a modest uptick, but is still lower by 0.50% from the previous estimate made in December 2024.
- Despite the moderation, India remains the fastest-growing major economy in the coming years.
Highlights:
i.Economic Outlook: The 6.6% growth projected for FY26 remains strong despite a slight downward revision.
ii.Global Economic Projections: The OECD also revised its global GDP growth forecast for 2025 from 3.3% to 3.1%, largely driven by trade barriers and geopolitical uncertainties.
- The Euro area growth is forecast at 1.0% in 2025 and 1.2% in 2026, amidst heightened uncertainty.
iii.Sector Contributions: The economic slowdown is attributed to weaker-than-expected growth in industrial sectors, despite positive momentum in services and agriculture.
- Industrial growth is projected to remain subdued, while the services sector continues to drive growth.
iv.Inflation & Monetary Policy: The OECD forecasts a gentle decline in interest rates in India, aiming to maintain inflation expectations at manageable levels.
- For FY27, OECD projected inflation to fall to 4.1 percent.
v.Geopolitical Risks: The OECD noted that trade restrictions and geopolitical tensions are contributing to higher costs for both production and consumption.
About Organisation for Economic Co-operation and Development (OECD):
The Convention on the OECD was signed on 14 December 1960, and the OECD officially superseded the OEEC in September 1961.
Secretary-General (SG)-Mathias Cormann
Headquarters- Paris, France
CBDT Notifies Ten year ZCB of PFC
In March 2025, The Ministry of Finance (MoF), through the New Delhi(Delhi) based Central Board of Direct Taxes (CBDT) notified the “Ten Year Zero Coupon Bond of Power Finance Corporation Limited (PFC)” as a Zero Coupon Bond (ZCB) under clause (48) of section 2 of the Income-tax Act, 1961.
- The bond is designed to provide a long-term investment option with a fixed maturity value, offering investors a discounted purchase price and a guaranteed return upon maturity.
i.Key Details of the Bond:
- Name: Ten Year Zero Coupon Bond of PFC.
- Life Period: 10 years and 1 month (121 months)
- Issue Date: To be issued on or before March 31, 2027.
- Maturity Amount: Rs. 1,00,000 per bond with a discount of Rs. 49,546 per bond.
- Number of Bonds: 10 lakh bonds will be issued.
ii.These bonds carry interest rate risk if sold before maturity. Their value decreases when interest rates rise and increases when rates fall.
iii.If the holding period is over 12 months, the gains are subject to a Long-Term Capital Gains (LTCG) tax of 12.5%, which is lower compared to many other investment options.
Note: A ZCB, or discount bond, is a debt instrument that doesn’t pay regular interest. Instead, it is sold for less than its face value, and the difference between the purchase price and face value is the investor’s return at maturity.
AWARDS & RECOGNITIONS
Hockey India 7th Annual Awards: Harmanpreet Singh & Savita Punia Won Hockey India Player of the Year Award
In March 2025, Indian Men’s hockey team captain, Harmanpreet Singh was honoured with the prestigious Hockey India Balbir Singh Sr. Award for Player of the Year 2024 in the men’s category, at the Hockey India 7th Annual Awards 2024 held at Le Meridien, Connaught Palace in New Delhi, Delhi. This marked his 2nd Hockey India Player of the Year award (2021).
- While, former hockey women’s team goalkeeper, Savita Punia was honoured with the Hockey India Balbir Singh Sr. Award for Player of the Year 2024 in the women’s category. This marked her 3rd Hockey India Player of the Year award (2022 and 2023). The recipients of Balbir Singh Sr. Award received a monetary prize of Rs 25 lakh.
i.This year Major Dhyan Chand Lifetime Achievement Award was bestowed upon winning team of 1975 Men’s World Cup, along with monetary prize of Rs 50 lakh.
- The Indian Men’s Hockey team under the captaincy of Ajit Pal Singh defeated Pakistan’s team in the finals of Hockey World Cup held in 1975 in Kuala Lumpur, Malaysia.
ii.Savita Punia was also named Hockey India Baljit Singh Goalkeeper of the Year award for 2024 and received cash prize of Rs 5 lakh.
iv.Prasar Bharati, the official broadcaster of the Hero Hockey India League 2024-25, was conferred with the Hockey India Jaman Lal Sharma Award for invaluable contribution 2024, in recognition of its role in expanding league’s reach across the country as well as international-level.
About Hockey India (HI):
President- Dr. Dilip Tirkey
Headquarters– New Delhi, Delhi
Established – 2009
>> Read Full News
Pravaig Dynamics Unveils World’s 1st E-TATV ‘VEER’ & Wins iDEX Award
In March 2025, Bengaluru (Karnataka) based Pravaig Dynamics Private Limited, an Electric Vehicle (EV) startup unveiled VEER Electric Tactical All-Terrain Vehicle (E-TATV), the world’s first operational EV designed for tactical defence use, including forward patrolling, reconnaissance, and Intelligence, Surveillance, and Reconnaissance (ISR) operations.
- Atima Corporation Private Limited in New Delhi (Delhi), a wholly owned subsidiary of Pravaig Dynamics received the iDEX (Innovations for Defence Excellence) Award for deepening India’s sovereignty through cutting-edge defence technologies.
About VEER E-TATV:
i.The vehicle is military-grade, featuring class-leading stealth, high power, and full field-repairability.
ii.It has undergone military trials in difficult terrains and altitudes, proving its operational readiness.
iii.The vehicle ensures complete data ownership for India, with no foreign control, reinforcing strategic autonomy.
iv.Specifications:
- Top speed: 160 kilometers per hour (km/h)
- Range: More than 500 km
- Payload: 690 kilograms (kg)
- Torque: 620 Newton-meters (Nm)
About iDEX Award:
i.In 2021, the Government of India (GoI) launched iDEX Scheme with budgetary support of Rs. 498.78 crore for 5 years from 2021-22 to 2025-26.
ii.The award was conferred by the Defence Innovation Organisation (DIO), under the Department of Defence Production (DoDP), the Ministry of Defence (MoD), and the Prime Minister’s Office (PMO) of India.
iii.The iDEX scheme aims to foster innovation and technology development in the defence sector, ensuring India builds, owns, and operates its advanced defence systems.
- The award is regarded as the first step towards induction into Indian Defence Services.
APPOINTMENTS & RESIGNATIONS
Stuart Richard Young Sworn In As 8th PM of Trinidad and Tobago 
On 17 March, 2025, Stuart Richard Young, a Trinidadian Attorney and Politician, was sworn-in as the 8th Prime Minister (PM) of the Republic of Trinidad and Tobago at a swearing-in ceremony held at the President’s House in Port of Spain, Trinidad and Tobago. He succeeds Dr. Keith Rowley, who resigned on March 16, 2025, ending a 9 year tenure as PM.
- Prior to his appointment, he served as Minister of Energy and Energy Industries, and Minister in the Office of the PM.
About Stuart Richard Young:
i.Stuart Richard Young began his political career in 2014 as a temporary Opposition Senator in the 4th Session of the 10th Republican Parliament.
ii.In 2015, he was elected as the People’s National Movement (PNM) candidate for Port-of-Spain North/St. Ann’s West and appointed Minister in the Ministry of the Attorney General and Legal Affairs.
iii.He served as the Minister in the Office of the PM from 2016-2018 and served as Minister of Communications from 2018-2019. He held the post of Minister of National Security from 2018-2021.
iv.He has been described as the “Minister of Everything,” having held numerous key portfolios and also served on various influential committees.
v.In 2022, he was elected as Chairman of the PNM. In June 2024, he was appointed as Senior Counsel, recognizing his legal expertise and contributions.
vi.His leadership within the PNM culminated in his nomination as Prime Minister Designate by the PNM Parliamentary caucus in January 2025.
vii.He is a member of the Honourable Society of Gray’s Inn in the United Kingdom(UK), and is a founding member of Synergy Television(TV) and WI Sports TV stations.
About the Republic of Trinidad and Tobago:
President- Christine Carla Kangaloo
Prime Minister (PM)– Stuart Richard Young
Capital- Port of Spain
Currency- Trinidad and Tobago Dollar (TTD)
Skechers Appoints Jasprit Bumrah as Brand Ambassador
On March 17, 2025, United States of America (USA) based Skechers, a footwear brand appointed Indian cricketer Jasprit Bumrah as its brand ambassador, reinforcing its commitment to combining comfort, innovation, and performance in sports footwear.
- With this appointment, Jasprit Bumrah joins fellow Indian cricketers Ishan Kishan and Yastika Bhatia, who have been representing Skechers for over a year.
i.Mumbai Indians, the Indian Premier League (IPL) team will now wear Skechers cricket footwear and be featured in the brand’s marketing campaigns. Additionally, Skechers continues as the official kit sponsor for Mumbai Indians, further boosting its presence in cricket.
ii.Skechers’ elite athletes roster includes Indian football legend Sunil Chhetri, global football stars like Harry Kane and Mohammed Kudus, basketball icons such as Joel Embiid, and Major League Baseball (MLB) players like Clayton Kershaw.
Note: Jasprit Bumrah was awarded the prestigious Sir Garfield Sobers Award for the 2024 International Cricket Council (ICC) Men’s Cricketer of the Year.
ACQUISITIONS & MERGERS
CCI Approvals on March 17, 2025
On March 17 2025, the Competition Commission of India (CCI) has approved the following proposals:
i.Acquisition of London (the United Kingdom, UK)-based global mining company, Anglo American plc’s (Anglo) steel-making coal portfolio in Australia (Target Business) by Peabody MNG Pty Ltd. (Peabody MNC) and Peabody SMC Pty Ltd. (Peabody SMC).
ii.Acquisition of 100% shareholding each of O2 Power Midco Holdings Pte.Ltd. and O2 Energy SG Pte. Ltd by JSW Neo Energy Limited which is 100% owned subsidiary of JSW Energy Limited (JEL) which belongs to the JSW Group.
iii.Acquisition of a shareholding of Aurangabad (Maharashtra)-based Dhoot Transmission Private Limited (DTPL) by BC Asia Investments XV Limited and BC Asia Investments XVI Limited.
iv.Acquisition of Jaipur (Rajasthan)-based Uprising Science Private Limited, by Mumbai based Hindustan Unilever Limited (HUL), a leading Fast Moving Consumer Goods (FMCG) company which owns over 50 brands, including Lakme, Lux, Knorr, among others.
v.Tata Sons Private Limited’s (Tata Sons) proposal to acquire additional 10% stake in Mumbai -based Direct-to-Home (DTH) provider Tata Play Limited (Tata Play) from Singapore-based wealth fund Temasek Holdings Private Limited which is owned by Baytree Investments (Mauritius) Pte Limited.
>> Read Full News
SPORTS
World Para Athletics Grand Prix 2025: India Tops Medal Tally with 134 Medals
India concluded the 2025 World Para Athletics Grand Prix held at Jawaharlal Nehru Stadium in New Delhi (Delhi), securing the top spot on the medal table with 134 medals, including 45 Gold, 40 Silver, and 49 Bronze.
- The Neutral Para Athletes contingent finished 2nd with 26 medals, comprising 13 gold, 9 silver, and 4 bronze.
- Uzbekistan claimed 3rd place with 4 gold, 4 silver, and 4 bronze medals.
About the 2025 World Para Athletics Grand Prix:
i.The 12th edition of the World Para Athletics Grand Prix made history as India hosted its first-ever international para-athletics event.
ii.The competition, held from 11 to 13 March 2025, featured 150 Indian athletes competing across 90 events, with participation of 283 athletes representing 20 countries.
iii.Top nations, including Germany, Japan, Australia, Saudi Arabia, Brazil, Russia, Kazakhstan, and Uzbekistan.
Note: The World Para Athletics Grand Prix will be an annual event in India until 2028, as confirmed by the World Para Athletics Federation.
About World Para Athletics Federation:
The World Para Athletics Federation is the global governing body for the sport of para-athletics established in 1989 as part of the International Paralympic Committee (IPC).
Chief Executive Officer (CEO)- Paul Fitzgerald
Headquarters– Bonn, Germany
>> Read Full News
India Concludes Special Olympics World Winter Games 2025 With 33 Medals
India concluded the Special Olympics World Winter Games 2025 in Turin, Italy, with an impressive total of 33 medals: 8 gold, 18 silver, and 7 bronze.
- India recorded 10 medals each in Snowshoeing and Alpine Skiing, 6 in Snowboarding, 4 in Short-track speed Skating, 2 in Cross-Country Skiing, and 1 in Floor ball.
- On the final day (March 15, 2025) Indian athletes clinched 12 medals across four events.
About Special Olympics World Winter Games 2025:
i.The 12th edition of the Special Olympics World Winter Games was held from 8 to 15 March 2025, in Turin, Italy, marking the first time Italy hosted the event.
ii.The event saw participation over 1,500 athletes from 100 countries competing in 8 sports, including Alpine Skiing, Cross Country Skiing, DanceSport, Figure Skating, Floorball, Short Track Speed Skating, Snowboarding and Snowshoeing.
iii.Snowshoeing: Vasu Tiwari, Shalini Chauhan, and Tanya each earned a silver in the 25 meter (m) Snowshoeing event, while Jahangir added a bronze in the same category.
iv.Alpine Skiing: Radha Devi and Nirmala Devi both clinched silver medals in the Intermediate Slalom, F01 and F04 categories, respectively, and Abhishek Kumar secured a silver in the Novice Slalom (M02 category).
>> Read Full News
Mumbai Indians Clinch ‘WPL Title 2025’ for the 2nd Time by Defeating Delhi Capitals
In March 2025, Mumbai Indians Women cricket team (MI-W) clinched their Women’s Premier League (WPL) title 2025 by defeating Delhi Capitals Women cricket team(DC-W) by 8 runs in the final held at Brabourne Stadium in Mumbai (Maharashtra). This victory marks Mumbai Indians (MI) to become the first team in WPL history to clinch the title twice, following their debut win in 2023.
- Mumbai Indians (MI) were captained by Harmanpreet Kaur, while Delhi Capitals (DC) were led by Captain Meghann Moira Lanning.
- The winners ‘MI-W’ received a cash prize of Rs 6 crore, while the runner-up ‘DC-W’ received Rs 3 crore.
i.The 3rd edition of the tournament was held from 14 February to 15 March 2025 with matches played in Vadodara (Gujarat), Bengaluru (Karnataka), Lucknow (Uttar Pradesh,UP) and Mumbai (Maharashtra).
ii.WPL 2025, branded as TATA WPL 2025 featured 5 teams: Gujarat Giants -Women cricket team(GG-W), Royal Challengers Bengaluru -Women cricket team(RCB-W), Mumbai Indians -Women cricket team(MI-W), Delhi Capitals -Women cricket team(DC-W) and UP Warriorz -Women cricket team(UPW-W).
iii.During the final, MI-W batter Natalie Ruth Sciver-Brunt became the first player to score 1000 runs in WPL history.
>> Read Full News
OBITUARY
Former Union Minister Debendra Pradhan Passed Away
In March 2025, Former Union Minister Debendra Pradhan, Father of Union Minister, Dharmendra Pradhan, Ministry of Skill Development and Entrepreneurship (MSDE) passed away at the age of 84 in New Delhi (Delhi)
- He was born on 16 July 1941 in Nalam, Dhenkanal district, Orissa Province, British India (present day Odisha, India)
About Debendra Pradhan:
i.Dr. Debendra Pradhan was a prominent Indian politician and a founding member of the Bharatiya Janata Party (BJP) in Odisha.
ii.He started his career as a medical officer from Talcher, Odisha. He Joined the BJP in 1980 and served as the Odisha BJP state president and also served as a national executive member of the BJP.
iii.He served as a Member of Parliament (MoP) for 2 consecutive terms from 1998 to 2004, representing the Deogarh constituency in Odisha.
iv.During his tenure, he held the position of Minister of State(MoS) for Surface Transport from 1998 to 1999, and subsequently, MoS for Agriculture from 1999 to 2001.
v.He also served as the National Vice President of the BJP between 2001 and 2002.
BOOKS & AUTHORS
CSK Launches its Book “Leo — The Untold Story”
A new book titled “Leo — The Untold Story”, written by senior advocate and former Tamil Nadu Cricket Association (TNCA) vice-president P.S. Raman was officially unveiled in Chennai(Tamil Nadu) by the former Indian Test Cricketer Chingleput Doraikannu “C.D.” Gopinath at a star-studded event, with former Chennai Super Kings (CSK) captain Mahendra Singh (M.S.) Dhoni graced the occasion.
- Musician Anirudh Ravichander was presented with the first copy of the book during the launch event.
- The book offers a deep and unique insight into the life, career, and lasting impact of M.S. Dhoni, highlighting his journey on and off the field, his contribution to Indian cricket, and his leadership of the CSK franchise.
IMPORTANT DAYS
Global Recycling Day 2025 – March 18
Global Recycling Day is observed annually on 18th March across the globe to highlight the significance of recycling and motivate individuals to take steps in reducing waste and safeguarding the environment.
- 18th March 2025 marks the observance of the 8th Global Recycling Day.
Background:
i.Global Recycling Day was established by the Bureau of International Recycling (BIR) with the aim of promoting the importance of recycling worldwide. BIR was founded on 18th March 1948
- Ranjit Baxi, Founder of Global Recycling Foundation introduced the concept of Global Recycling Day during his inaugural speech as President at the BIR’s 2015 Dubai Convention, United Arab Emirates (UAE).
ii.The 1st ever Global Recycling Day was observed on 18th March 2018, which marked the 70th anniversary of BIR.
About Bureau of International Recycling (BIR):
President– Susie Burrage
Headquarters– Brussels, Belgium
Established– 1948
>> Read Full News
STATE NEWS
HP CM Sukhvinder Singh Sukhu Presents Rs 58,514 Crore Budget for FY 26
In March 2025, Chief Minister (CM) Himachal Pradesh (HP) Sukhvinder Singh Sukhu, who also holds the finance portfolio, presented a tax-free budget for the Financial Year 2025-26 (FY 26) of Rs 58,514 crore, marking an increase of Rs 70 crore from the previous fiscal year’s Rs 58,444 crore.
- The budget aims to strengthen the economy, support farmers and workers, improve tourism, and modernize infrastructure while addressing financial challenges.
Financial Indicators:
i.For FY 26, total revenue receipts are estimated at Rs 42,342.97 crore, while capital receipts will be Rs 14,602.37 crore, including Rs 13,374.74 crore from public debt and Rs 1,200.00 crore from the provident fund (PF). This brings total receipts to Rs 56,945.34 crore.
ii.The Revenue Deficit is projected at Rs 6,390.07 crore, and the Fiscal Deficit at Rs 10,337.97 crore which is 4.04% of the state’s Gross Domestic Product (GDP).
Key Initiatives:
i.The government aims to strengthen farmers’ livelihoods by bringing one lakh more farmers into natural farming in FY 26, adding to the 1.58 lakh farmers already practicing it.
ii.The daily wages under Mahatma Gandhi National Rural Employment Guarantee Act, 2005 (MGNREGA) have been increased from Rs 300 to Rs 320 per day.
iii.Financial assistance of Rs 1,500 will be provided to Women who turn 21 between January 1, 2025, and March 31, 2026, as well as those employed in others’ homes from June 1, 2025, along with their eligible daughters, under the ‘Indira Gandhi Pyari Behna Sukh Samman Nidhi Yojana’.
iv.Special Task Force(STF) will be formed to tackle the growing issue of drug abuse in the state.
>> Read Full News
Haryana CM Nayab Singh Saini Presents Rs 2,05,017.29 Cr Budget for FY26
On 17 March 2025, Nayab Singh Saini, the Chief Minister (CM) of Haryana, who also holds the finance portfolio, presented his maiden Budget of Rs. 2,05,017.29 crore for the Financial Year 2025-26 (FY26). This tax-free budget reflects a 13.7% increase over the Revised Estimates (RE) of Rs. 1,80,313.57 crore for 2024-25.
- Over the past decade, Haryana’s Gross Domestic Product (GDP) has grown at an average rate of 10.8%, and per capita income has increased at an average rate of 9.1%.
Fiscal Parameters:
i.From 2014-15 to 2024-25, the Annual Compound Growth in the Gross State Domestic Product (GSDP) is 6.2%
ii.Fiscal Deficit (FD) has been projected at 2.68% in RE 2024-25 against the permissible limit of 3.0%. In the Budget Estimates (BE) 2025-26, it has been estimated at 2.67%.
iii.Primary Deficit (PD) (fiscal deficit minus interest payments) is projected at 0.72% of the GSDP in BE 2025-26.
Key Initiatives:
i.The budget includes the creation of a new authority called “SANKALP” (Substance Abuse & Narcotics Knowledge, Awareness & Liberation Program Authority) to eliminate both the demand and supply of drugs in Haryana with an initial allocation of Rs 10 crore.
ii.The creation of a new department the ‘Department of the Future,’ aimed at making Haryana ‘future capable.’
iii.“Lado Laxmi Yojana”, a scheme to provide women in Haryana with the financial assistance of Rs 2,100 per month is being finalized, with Rs 5,000 crore allocated for this scheme.
About Haryana:
Chief Minister (CM)- Nayab Singh Saini
Governor– Bandaru Dattatraya
Wildlife Sanctuary– Khol Hi-Raitan Wildlife Sanctuary
Zoological Park– Surinder Singh Memorial Mini Zoo
>> Read Full News
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