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NATIONAL AFFAIRS
Make in India’s Leap in Electronics Manufacturing & Exports
Make in India, a flagship initiative of Government of India (GoI) launched in 2014, has been a cornerstone in transforming India into a global manufacturing hub. Its key objectives were to enhance industrial capabilities, foster innovation and to develop world-class infrastructure.
- As a result, India’s electronics exports are expanding swiftly, with the country’s electronics production projected to reach USD 300 billion by 2026.
Key Progress made by Smartphones in India:
i.India has made significant strides in mobile and electronics manufacturing and become the world’s 2nd largest mobile manufacturing country as the number of mobile manufacturing units in India increased from 2 (in 2014) to over 300 manufacturing units (at present).
ii.Only 26% of mobile phones sold in India were locally made in 2014-15, increasing to 99.2% by December 2024.
iii.Over 325 to 330 million mobile phones a year being manufactured in India and on average there about 1 billion mobile phones in use in India.
Key Projects :
i.In 2023, the GoI had approved the 1st major project with the United States of America (USA)-based chip maker company, Micron Technology Inc. for approximately Rs 22,000 crore.
ii.In February 2024, the proposal of Mumbai (Maharashtra)-based wholly owned subsidiary of Tata Sons, Tata Electronics Private Limited (TEPL) for setting up a semiconductor fab facility in Dholera, Gujarat (India) with estimated cost of Rs 91,526 crore was approved by the GoI.
>> Read Full News
MoSPI Report: India’s Energy Intensity Improves to 0.2180 MJ/INR GDP in FY24
On March 26, 2025, the Ministry of Statistics and Programme Implementation (MoSPI) released the Energy Statistics India 2025 report, detailing India’s energy consumption, production, and efficiency trends for Financial Year2023-24 (FY24).
- India’s energy intensity improved to 0.2180 Mega Joules (MJ) in FY24, down from 0.2192 MJ in FY23. The industrial sector contributed by reducing its energy use from 361.5 MJ to 284.2 MJ.
- Despite recent advancements, India continues to rely significantly on imports for its energy needs, with crude oil accounting for 89%, natural gas at 46.6%, and coal at 25.86%. Over the past decade, per capita energy consumption has increased by 25%.
i.Renewable Energy(RE) Growth:RE (excluding hydropower) in electricity generation rose to 12.1% (FY24) from 6% (FY15).RE potential reached 21,09,655 Megawatt (MW) by March 31, 2024:
- Wind (55.17%): 11,63,856 MW,
- Solar (35.5%): 7,48,990 MW,
- Large Hydro (6.32%): 1,33,410 MW.
ii.RE Potential: India’s RE potential is 21,09,655 MW. Rajasthan leads with 20% (4,28,322 MW) in solar and wind, followed by Maharashtra (12%), Gujarat (10%), and Karnataka (10%) in solar, wind, biomass, and hydropower generation.
>> Read Full News
Government Discontinues MLTGD Under Gold Monetisation Scheme
The Government of India has decided to discontinue the Medium Term and Long Term Government Deposit (MLTGD) components of the Gold Monetisation Scheme (GMS) effective March 26, 2025. This decision follows a review of the scheme’s performance and evolving market dynamics.
- The renewal of MLTGD has been discontinued with effect from March 26, 2025.
Note: Earlier in 2025 the central government has discontinued the Sovereign Gold Bond (SGB) scheme
Medium and Long Term Government Deposit (MLTGD): The rate of interest on such deposit will be decided by Central Government and notified by Reserve Bank of India from time to time.
- Medium Term (MTGD): 5–7 years (interest currently: 2.25% per aannum(p.a))
- Long Term (LTGD): 12–15 years (interest currently: 2.50% p.a.).
- Lock-in Period: MTGD withdrawals allowed after 3 years; LTGD after 5 years.
MoRD & UNICEF YuWaah Sign SoI to Empower Rural Women and Youth
On March 26, 2025, the Ministry of Rural Development (MoRD) of Government of India (GoI) and the United Nations Children’s Fund (UNICEF) YuWaah (Generation Unlimited India) have signed a three-year Statement of Intent (SOI) to enhance livelihood opportunities for rural women and youth in India through skill development, entrepreneurship, and job linkages.
- The partnership aims to boost female labor force participation and empower 10 crore Self-Help Group (SHG) members, particularly focusing on youth.
- It aligns with the ‘Rural Prosperity and Resilience’ Programme from the Union Budget 2025-26, aimed at reducing underemployment in agriculture through skill development, investment, technology, and strengthening the rural economy.
Key People:
The SOI was signed by T. K. Anil Kumar, Additional Secretary of MoRD, and Sharada Thapalia, Deputy Representative (Operations), UNICEF India. Smriti Sharan, Joint Secretary of MoRD, Dr. Monika, Deputy Secretary of MoRD along with team members of MoRD and UNICEF YuWaah were also present during the event.
Key Initiatives:
i.Digital Infrastructure Development:
- Establishment of Computer Didi Centers and Didi ki Dukan (women-owned retail outlets) in 5 states: Andhra Pradesh (AP), Jharkhand, Madhya Pradesh (MP), Odisha, and Rajasthan.
- Targets 5 blocks initially, with plans to scale up to 35 lakh women across 7,000 blocks post-success.
ii.Skill and Employment Platforms:
- Launch of Youth Hub, an aggregator platform connecting youth to jobs, skilling programs, and volunteering opportunities.
- Creation of Lakhpati Didis (women entrepreneurs earning Rs 1 lakh annually) to align with the government’s economic empowerment vision.
About Ministry of Rural Development (MoRD):
Union Minister– Shivraj Singh Chauhan (Constituency- Vidisha, Madhya Pradesh, MP)
Minister of State (MoS)- Chandra Shekhar Pemmasani (Constituency- Guntur, Andhra Pradesh, AP) and Kamlesh Paswan (Constituency- Bansgaon, Uttar Pradesh, UP)
IIM Mumbai & CAG India Signed MoU to strengthening economic governance and accountability
In March 2025, the Indian Institute of Management (IIM-Mumbai) based in Mumbai, Maharashtra and the Comptroller Auditor General (CAG) of India signed a Memorandum of Understanding (MoU) to improve the efficiency and transparency of public sector logistics, supply chain, and inventory management.
- The MoU was signed in the presence of K. Sanjay Murthy, CAG of India and Manoj Tiwari, Director, IIM-Mumbai, along with their respective teams in New Delhi, Delhi.
- This MoU signifies an initiative led by CAG India which aimed to foster collaborations with institutes of national importance like: IIM-Mumbai, to enhance the capacity building of Indian Audit and Accounts Department (IAAD) officials on a large scale as well as to strengthen auditing capabilities and improve resource management across various government departments and public sector enterprises (PSEs).
Key Points:
i.This strategic partnership seeks to enhance auditors’ sector-specific expertise, improve risk and performance analysis, and foster transparency, accountability, and data-driven excellence in public financial management.
ii.Also, a customized training course for 45 CAG officials is scheduled to commence in the 3rd week of next month i.e. in April, 2025.
- The course is designed to train CAG officials with important skills required to effectively audit and manage logistics and supply chain operations within the public sector.
MoD signs contracts for procurement of HMV 6×6 Gun Towing Vehicles for IA
In March 2025, the Ministry of Defence (MoD) signed contracts with Tata Advanced Systems Limited (TASL) for the procurement of High Mobility Vehicle (HMV) 6×6 Gun Towing Vehicles for the Indian Army(IA). The agreement was formalized in the presence of Defence Secretary Rajesh Kumar Singh at South Block, New Delhi(Delhi).
- The contract for the procurement of HMV 6×6 Gun Towing Vehicles forms part of a larger set of defence acquisitions signed by the MoD.
- As of March 2025, the total value of contracts signed for capital procurement in the current Financial Year 2024-25 (FY25) has reached Rs 1.40 lakh crore.
i.Purpose of the Contract:The procurement of these advanced 6×6 Gun Towing Vehicles aims to enhance the operational capabilities of the Indian Armed Forces.
- These vehicles are designed to provide high mobility and robust performance, especially in difficult terrain.
ii.Significance This procurement is crucial for the IA as it will bolster mobility and logistical support on various frontlines. The addition of these vehicles will ensure better operational flexibility and enhance the army’s ability to conduct rapid deployments.
Note: The MoD has signed contracts worth Rs 6,900 crore for the procurement of 155 millimetre(mm)/52 Calibre Advanced Towed Artillery Gun Systems, ATAGS(with Bharat Forge Limited, BFL) and High Mobility Vehicle 6×6 Gun Towing Vehicles.
INTERNATIONAL AFFAIRS
UN FAO Report at CGRFA-20: Global Crop Diversity Under Threat as Nine Crops Dominate Production
In March 2025, the United Nations Food and Agriculture Organization (UN FAO) based in Rome, Italy published the Third Report on the State of the World’s (SoW3) Plant Genetic Resources for Food and Agriculture (PGRFA), raising concerns about the declining diversity of plant genetic resources.
- The report was released on the 20th meeting of the Commission on Genetic Resources for Food and Agriculture (CGRFA-20) in Rome.
Key Insights:
i.The report, based on data from 128 countries and several research institutions, provides a detailed assessment of efforts to conserve and utilize Plant Genetic Resources for Food and Agriculture (PGRFA) effectively.
ii.The report states that despite the cultivation of around 6,000 plant species, the report revealed that 60% of global crop production depends on just nine crops—sugarcane, maize, rice, wheat, potatoes, soybeans, oil palm fruit, sugar beet, and cassava.
iii.The report highlights that traditional farmer varieties and landraces (FV/LR) are under increasing threat.
- Southern Africa recorded the highest percentage of threatened diversity, followed by the Caribbean and Western Asia, while regions like Southern Asia, Australia, and New Zealand (NZ) had relatively lower levels of risk.
About United Nations Food and Agriculture Organization (UN FAO) :
Director General (DG)– Qu Dongyu (China)
Headquarters– Rome, Italy
Established– 1945
>> Read Full News
BANKING & FINANCE
RBI Revises PSL Norms to Boost Credit Access, Effective from April 1, 2025
On March 24,2025 The Reserve Bank of India (RBI) revised guidelines on Priority Sector Lending (PSL) to boost credit access. These guidelines were issued under – ‘Master Directions – Reserve Bank of India (Priority Sector Lending – Targets and Classification) Directions, 2025’. These Directions shall come into effect on April 01, 2025.
The Reserve Bank of India has, from time to time, issued a number of instructions/ guidelines to banks relating to PSL. The following are the major changes:
- Enhancement of several loan limits, including housing loans for enhanced PSL coverage,
- Broadening of the purposes based on which loans may be classified under ‘Renewable Energy’,
- Revision of overall PSL target for Urban Co-operative Bank (UCBs) to 60 per cent of Adjusted Net Bank Credit (ANBC) or Credit Equivalent of Off-Balance Sheet Exposures (CEOBSE), whichever is higher.
- Expansion of the list of eligible borrowers under the category of ‘Weaker Sections’, along with removal of the existing cap on loans by UCBs to individual women beneficiaries.
BoI & NIACL Announces Partnership to Enhance General Insurance Products
In March 25, 2025, Mumbai (Maharashtra) based Bank of India (BoI), one of India’s leading Public Sector Banks (PSUs) has entered into a strategic partnership with Mumbai based New India Assurance Company Limited (NIACL), India’s largest nationalized general insurance company to provide general insurance products to BoI customers.
- The collaboration aims to offer BoI’s customers a comprehensive suite of general insurance products, including health, motor, personal accident, home, and commercial insurance.
- It aligns with BoI’s vision to provide end-to-end financial solutions under one roof, enhancing convenience for its vast customer base.
BoI Signs MoU with IAF for Rakshak Salary Package:
BoI also signed its first-ever Memorandum of Understanding (MoU) with Indian Air Force (IAF) to extend tailored banking benefits through the ‘BoI Rakshak Salary Package’ to IAF personnel, veterans, and Agniveers recruited under the Agnipath scheme.
i.The MoU exchange ceremony held at the IAF Headquarters in New Delhi(Delhi), with Air Vice Marshal Updesh Sharma, Assistant Chief of Air Staff(ACAS), Accounts & Air Veterans(Accts & AV) of the IAF, presiding over the event.
ii.The package includes enhanced financial perks such as:
- Personal Accident Insurance (PAI) coverage of Rs. 100 lakh,
- Air Accident Coverage of Rs. 200 lakh,
- Special benefits on debit and credit cards.
About Bank of India (BoI):
Managing Director (MD) & Chief Executive Officer (CEO) – Rajneesh Karnatak
Headquarters – Mumbai (Maharashtra)
Founded – 1906
About New India Assurance Company Limited (NIACL):
NIACL is a Central Public Sector Undertaking (CPSU) under the Ministry of Finance (MoF).
Chairman & Managing Director (CMD) – Girija Subramanian
Headquarters – Mumbai (Maharashtra)
Founded – 1919
Bandhan Bank Signs MoU with IAF for Shaurya Salary Account
In March 2025, Kolkata, West Bengal(WB) based Private lender Bandhan Bank has signed a Memorandum of Understanding (MoU) with Indian Air Force (IAF) to introduce the Bandhan Bank Shaurya Salary Account, a zero-balance corporate salary account tailored for IAF personnel, veterans, and families.
- The account offers benefits like personalized insurance coverage, competitive interest rates, and access to over 1,700 branches across India.
i.The MoU was signed by Air Vice Marshal Updesh Sharma VSM, Assistant Chief of the Air Staff (CAS) (Accounts & Air Veterans), Ministry of Defence (MoD), Government of India (GoI); Debraj Saha, Head – Government Business Group, Bandhan Bank in presence of other senior officials.
ii.This partnership further strengthens Bandhan Bank’s existing role as a SPARSH (System for Pension Administration Raksha) Service Centre for defence personnel.
- In collaboration with the Controller General of Defence Accounts (CGDA), MoD, the bank operates 557 designated branches for processing pensions and supporting defence pensioners and families.
Note: Reserve Bank of India (RBI) has appointed Bandhan Bank as an Agency Bank authorized to handle tax collections (Central Board of Direct Taxes (CBDT) and Central Board of Indirect Taxes and Customs (CBIC)) and disburse Central Civil Pension and Railway Pensions of Ministry of Finance (MoF), GoI.
IRFC Signs Rs.5,000 Crore Loan Agreement with NTPC Renewable Energy
In March 2025, New Delhi(Delhi) based Indian Railway Finance Corporation (IRFC), a public sector undertaking under the Ministry of Railways(MoR), signed a Rupee Term Loan (RTL) agreement worth Rs. 5,000 crore with New Delhi based NTPC Renewable Energy Limited (NTPC REL), a subsidiary of NTPC Green Energy Limited(NTPC GEL).
- The loan aims to finance NTPC REL’s ongoing and new capacity expansion projects in the renewable energy sector. Additionally, it will be utilized for refinancing existing debt, as approved by NTPC REL’s board.
i.NTPC REL has secured an unsecured loan, backed by a negative lien with limited exceptions. The funds will drive the company’s Renewable Energy(RE) growth in solar, wind, energy storage, and green hydrogen sectors.
ii.Indian Railways(IR), one of the largest electricity consumers, aims to achieve net zero carbon emissions by 2030.
iii.This agreement supports India’s goal of reaching 450 Gigawatt(GW) of RE capacity by 2030, emphasizing the crucial role of public sector entities like IRFC in this transition.
AWARDS & RECOGNITIONS
Union Minister Piyush Goyal Conferred National IP Awards 2024
On March 26, 2025, Union Minister Piyush Goyal, Minister of Commerce and Industry (MoC&I) conferred the National Intellectual Property (IP) Awards 2024 at the award function held at Bharat Mandapam, New Delhi (Delhi).
- The awards were conferred annually to recognize and reward individuals, institutions, organizations, and enterprises for their outstanding contributions to IP creation and commercialization.
- It underscores India’s commitment to fostering innovation and strengthening its IP ecosystem, aligning with the vision of a Viksit Bharat.
- The National IP Awards 2024, presented across 13 categories, recognised outstanding contributions from individuals, academic institutions, startups, and corporations, further strengthening India’s position as a global innovation leader.
Achievements and Reforms of India’s IP Landscape:
i.In Global Innovation Index (GII) 2024, India improved its rank from 81 (2015) to 39 (2024).
ii.India now ranks sixth globally for trademark filings, with approximately 100,000 patent grants last year, reflecting a surge in IP activity.
iii.80% fee reduction for women entrepreneurs, startups, and Micro, Small & Medium Enterprises (MSMEs) to enhance IP participation.
>> Read Full News
APPOINTMENTS & RESIGNATIONS
Indian-origin Jay Bhattacharya Appointed as 18th Director of NIH
In March 2025, Dr. Jay Bhattacharya, an Indian-origin professor at Stanford School of Medicine, was confirmed as the 18th Director of Maryland(the United States of America, USA) based National Institutes of Health (NIH) by the United States(US) Senate.
- The appointment followed a 53-47 roll-call vote during the first session of the 119th Congress. He succeeded Dr. Monica M. Bertagnolli, whose tenure concluded on 17 January 2025.
i.Dr. Bhattacharya serves as a professor of health policy at Stanford University and holds multiple affiliations, including research associate at the National Bureau of Economic Research (NBER) and senior fellow at Stanford’s Institute for Economic Policy Research (SIEPR), Freeman Spogli Institute, and the Hoover Institution.
ii.He directs Stanford’s Centre for Demography and the Economics of Health and Ageing(CDEHA), focusing on critical areas such as government health programs, biomedical innovation, and economic policies.
iii.Notably, Dr. Bhattacharya co-authored the ‘Great Barrington Declaration’ in October 2020, advocating for targeted protections as an alternative to widespread lockdowns during the COVID-19 pandemic.
Sanjay Kumar Mishra appointed full-time EAC-PM member
In March 2025, Sanjay Kumar Mishra, former Director of the Enforcement Directorate (ED), was appointed as a full-time member of the Economic Advisory Council to the Prime Minister (EAC-PM).
- This appointment fills the vacancy created after the demise of former chairman Bibek Debroy in November 2024.
i.A 1984-batch Indian Revenue Service (IRS) officer from Uttar Pradesh(UP), Sanjay Kumar Mishra started his career as an assistant director in the Income Tax department in Gorakhpur, UP.
ii.He served as ED Director from 19 November 2018 to 18 November 2023, with multiple extensions.
iii.During his tenure, he intensified the scrutiny of several former ministers and influential leaders, with the probe agency registering approximately 4,000 cases and carrying out over 3,000 searches.
iii.The EAC-PM, an independent advisory body, addresses critical economic issues and advises the Prime Minister(PM).
- The council is chaired by Suman Berry, with Sanjeev Sanyal and Dr. Shamika Ravi as full-time members. Part-time members include Rakesh Mohan, Dr. Sajjid Chinoy, Dr. Neelkanth Mishra, Nilesh Shah, Prof. TT Ram Mohan, and Dr. Poonam Gupta.
SCIENCE & TECHNOLOGY
DRDO & IN Successfully Conducted Flight-test of Indigenously Developed VL–SRSAM
In March 2025, Defence Research & Development Organisation (DRDO) and Indian Navy (IN) successfully conducted the flight-test of indigenously-developed Vertically-Launched Short Range Surface-to-Air Missile (VL–SRSAM) from the Integrated Test Range (ITR) in Chandipur, off the Odisha coast.
- It was launched from a land-based vertical launcher against a high-speed aerial target at a very close range and low altitude, showing its Near-Boundary-Low Altitude capability.
About Flight Test:
i.During the flight-test, the missile exhibited a high turn rate to accurately destroy target, showing its agility, reliability, and accuracy.
ii.The test was conducted with all weapon system elements which include: missile with indigenous Radio Frequency(RF) seeker, Multi-Function Radar(MFR) and Weapon Control System(WCS) deployed in combat configuration, have performed as per expectations.
iii.The system’s performance was validated by the flight data captured various range instruments developed at ITR Chandipur.
About VL-SRSAM:
i.It is a next-generation SAM, indigenously designed and developed by the contribution of various DRDO’s facilities such as: Hyderabad (Telangana)-based Defence Research and Development Laboratory (DRDL); Hyderabad (Telangana)-based Research Centre Imarat (RCI) and Pune (Maharashtra)-based Research & Development Establishment (Engineers).
ii.It is manufactured by Hyderabad (Telangana)-based Bharat Dynamics Limited (BDL), a Central Public Enterprise (CPSE) under the control of Ministry of Defence (MoD).
- It is developed specifically for IN as a quick point defence against supersonic sea-skimming targets like: aircraft and Unmanned Aerial Vehicles (UAVs).
iii.The missile has capability to strike targets within the range of 50 kilometer (km) up to a elevation of 15 km.
iv.It weighs 170 kilogram (kg) and has length and diameter of 3931 millimeter (mm) and 178 mm, respectively.
v.The missile features a smokeless propulsion system and is equipped with state-of-the art Electronic Counter-Counter Measures (ECCM) features.
About Defence Research and Development Organisation(DRDO):
It is the Research and Development (R&D) wing of Ministry of Defence (MoD), Government of India (GoI).
Chairman- Dr. Samir Vankatpati Kamat
Headquarters- New Delhi, Delhi
Established-1958
About Indian Navy (IN):
Chief of Naval Staff (CNS)– Admiral Dinesh Kumar (DK) Tripathi
Headquarters- New Delhi, Delhi
Founded- 1950
GE Aerospace Delivers First F404-IN20 Engine to HAL for Tejas LCA-Mk1A Fighter Jet
On March 26, 2025, the United States of America (USA) based General Electric Company (GE Aerospace), a leading engine manufacturer, announced the delivery of the first of 99 F404-IN20 engines to Bengaluru (Karnataka)-based aerospace company Hindustan Aeronautics Limited (HAL), for the Tejas Light Combat Aircraft (LCA) Mk 1A fighter jet program.
- The engine will undergo final checks at GE’s Lynn plant (the USA) and is expected to arrive in India by April 2025. HAL aims to receive 12 engines by the end of 2025.
Key Points:
i.The F404-IN20 engine is a tailored version of the F404 family, providing the highest thrust within the series.
ii.This engine provides a maximum thrust of 19,000 pound-force, lbf (85 kilo Newton, kN) with an afterburner, making it the highest thrust variant in the F404 series.
iii.In 2023, GE Aerospace signed a Memorandum of Understanding (MoU) with HAL to explore joint production of the F414 engines in India.
- With the procurement deal worth Rs 5,375 crore (approx. USD 650 million), India aims to enhance its domestic defence manufacturing capabilities and reduce reliance on foreign defence imports.
General Electric Company (GE Aerospace):
Chairman and Chief Executive Officer (CEO) – Henry Lawrence “Larry” Culp, Jr.
Headquarters – Evendale, Ohio, the United States of America (USA)
Founded – 1917
>> Read Full News
IN Launches 10th Ammunition Cum Torpedo Cum Missile Barge ‘LSAM 24 (Yard 134)’ in Maharashtra
On March 26, 2025, the Indian Navy (IN) successfully launched its ‘10th Ammunition Cum Torpedo Cum Missile (ACTCM) Barge’, Large Scale Additive Manufacturing (LSAM 24) (Yard 134) was launched at M/s Suryadipta Projects Private Limited based in Thane, Maharashtra.
- The launch Ceremony was attended by Commodore Rahul Jagat, SPS, Submarine Overseeing Team (SOT), Mumbai (Maharashtra) as the Chief Guest.
Background:
i.In 2021, the contract for the construction of eleven (11) ACTCM was signed with Micro, Small, and Medium Enterprises (MSME) Shipyard, M/s Suryadipta Projects Private Limited, on March 5, 2021.
ii.So far, nine barges have been delivered and are currently in active service with the IN.
Keypoints:
i.These Barges have been indigenously designed and built by the Shipyard in collaboration with an Indian Ship Design firm and Indian Register of Shipping (IRS) respectively.
ii.Model testing was conducted at Naval Science and Technological Laboratory (NSTL), Visakhapatnam(Andhra Pradesh, AP) to ensure seaworthiness.
iii.These barges proudly represent the ‘Make in India’ and ‘Aatmanirbhar Bharat’ initiatives of the Government of India (GoI) contributing to India’s defence self-reliance.
Induction of fourth 25T Bollard Pull Tug Yuvan (YARD 338):
The Indian Navy (IN) also launched its fourth 25T Bollard Pull (BP) Tug Yuvan at Naval Dockyard, Visakhapatnam (Andhra Pradesh, AP). The launch Ceremony was attended by Commodore Rajeev John, General Manager (Refit) as Chief Guest.
- These tugs are part of a contract signed in 2021, with M/s Titagarh Rail Systems Limited (TRSL), Kolkata(West Bengal, WB), for the construction of six (06) 25T BP tugs.
i.These Tugs have been indigenously designed and built by the Shipyard in collaboration with an Indian Ship Design firm and IRS respectively.
ii.The tugs will also provide a float fire-fighting support to ships alongside or at anchorage and possess the capability to conduct limited Search and Rescue (SAR) operations.
iii.The shipyard has successfully delivered three of these tugs, which the IN is utilizing to assist naval ships and submarines during berthing, un-berthing, and maneuvering in confined waters.
SPORTS
AFA Partners with HSBC for 2025 Season in India and Singapore
In March 2025, the Argentine Football Association (AFA) and London (the United Kingdom, UK) based HSBC Holdings plc., announced a one-year partnership to promote football-related activities in both India and Singapore.
- This groundbreaking partnership between HSBC and the Argentina National Team represents a historic fusion of banking and sports.
i.The partnership covers the 2025 competitive season leading up to the final World Cup qualification matches for the 2026 FIFA(Fédération Internationale de Football Association or International Federation of Association Football) World Cup, which will take place from 11 June to 19 July 2026.
ii.Under this collaboration, the Argentina national football team, including football legend Lionel Messi, will visit India for an international exhibition match in Kochi(Kerala) in October 2025.
iii.This partnership highlights HSBC’s dedication to celebrating excellence in sports and providing unforgettable experiences for football fans.
IMPORTANT DAYS
World Theatre Day 2025 – March 27
World Theatre Day is observed annually across the globe on 27th March to honor theatre’s cultural significance and its role in fostering global unity.
- March 27, 2025, marks the 63rd World Theatre Day.
Note: The day has been celebrated each year by the International Theatre Institute (ITI) Centres and the international theatre community.
Background:
i.World Theatre Day was initiated in 1961 by the International Theatre Institute ITI, the World Organization for the Performing Arts, which was founded in 1948 by the United Nations Educational, Scientific and Cultural Organization(UNESCO) and the International Council for Theatre.
ii.The 1st World Theatre Day was observed on 27 March 1962, coinciding with the date of the opening of the “Theatre of Nations” season in Paris, France.
iii.The 2025 World Theatre Day message is authored by Theodoros Terzopoulos (Greece), a renowned theatre director, educator, and Chairman of the International Committee of Theatre Olympics in Lausanne (Switzerland).
>> Read Full News
STATE NEWS
Punjab FM Harpal Singh Cheema Presents Rs 2.36 Lakh Crore Budget for FY26
On 26 March 2025, Harpal Singh Cheema, Finance Minister (FM) of Punjab, presented a Rs 2,36,080 crore Budget for the Financial Year 2025-26 (FY26) with a special focus on the “Yudh Nashe De Virudh” (War Against Drugs) anti-drug campaign and Healthcare sector improvements. A unique initiative in the budget is to carry out the first-ever “Drug Census” in Punjab next year.
Fiscal Indicators:
i.Punjab’s economy is showing strong growth, with a 9% increase, and the Gross State Domestic Product (GSDP) of Punjab at current prices has reached Rs 8,09,538 crore in the Revised Estimates (RE) of 2024-2025.
ii.The total Revenue Receipts have been projected to be Rs 111740.32 crore in FY 2025-26, of which the State’s Own Tax Revenue accounts for Rs 63,250 crore.
iii.The Effective Revenue Deficit (ERD) and Fiscal Deficit (FD) are expected to be 2.51% (Rs 22351.82 crore) and 3.84% (Rs 34201.11 crore).
iv.The Capital Expenditure (CapEx) is allocated at Rs 10301.65 crore, a significant increase from Rs 8346.62 crore in RE of 2024-2025.
v.The Revenue Expenditure (RevEX) is allocated at Rs 135697.60 crore, an increase from Rs 132405.13 crore in RE of 2024-2025.
Key Points:
i.The Government of Punjab launched the “Yudh Nashe De Virudh” (War Against Drugs) Campaign on 1 March 2025 to completely eradicate drugs from Punjab by involving all sections of society.
ii.To control cross-border drug smuggling, for the first time in Punjab’s history, the government will establish a second line of defense at the border by deploying 5,000 home guards alongside the Border Security Force (BSF)
iii.For the first time in Punjab’s history, the government has decided to extend the state health insurance scheme in the coming year to make it a Universal scheme.
About Punjab:
Chief Minister (CM)- Bhagwant Singh Mann
Governor– Gulab Chand Kataria
Wildlife Sanctuaries– Bir Dosanjh Wildlife Sanctuary, Bir Bhadson Wildlife Sanctuary
Zoological Park– Bir Talab
>> Read Full News
Yaoshang Festival Celebrated in Manipur after a year
In March 2025, the Yaoshang Festival(the festival of Holi), celebrated in Manipur, reflects the community’s resilience in preserving cultural traditions despite challenges.
- It serves as a symbol of unity and hope, providing an opportunity for healing and a step toward normalcy amid ongoing tensions.
i.Yaoshang, a five-day festival in Manipur, begins on the full moon day of the Lamta month (February–March).
- The first day begins with the construction of small thatch huts, called “Yaoshang,” in various localities. These huts are adorned with colourful decorations and serve as a focal point for the festival.
ii.Dubbed Manipur’s version of Holi, it feature religious rituals, sports, community bonding and traditional celebrations like the Thabal Chongba dance.
iii.Ethnic violence in Manipur since May 2023, involving conflicts between the Meitei and Kuki-Zo communities, has resulted in casualties and widespread displacement. Security concerns likely led to the festival’s cancellation in 2024, as large gatherings were deemed unsafe.
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