Current Affairs 9 & 10 March 2025

We are here for you to provide the important Recent and Latest Current Affairs 9 & 10 March 2025, which have unique updates of Latest Current Affairs 2025 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

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NATIONAL AFFAIRS

Union Minister Bhupender Yadav Inaugurates WSDS 2025 in New DelhiUnion Minister Bhupender Yadav, Ministry of Environment, Forest, and Climate Change(MoEFCC) inaugurated the 24th edition of the World Sustainable Development Summit (WSDS) 2025, held from March 5 to 7, 2025 in New Delhi, Delhi. The theme for WSDS 2025 is “Partnerships for Accelerating Sustainable Development and Climate Solutions.”

• The WSDS is an annual event hosted by Bengaluru(Karnataka) based The Energy and Resources Institute (TERI) since 2001.
• WSDS 2025 featured plenary sessions, and exhibitions, aimed at strengthening dialogue and action on sustainable development and climate solutions.

i.The event was attended by Prime Minister (PM) of Republic of Guyana Brigadier Mark Phillips, and Brazil’s Minister of Environment and Climate Change, Marina Silva. It also featured Nitin Desai, Chairman of TERI, and Dr. Vibha Dhawan, Director General (DG) of TERI, along with subject experts and other dignitaries.
ii.The TERI presented the Sustainable Development Leadership Award (SDLA) 2025 to Dr. Bharrat Jagdeo, Vice President of Guyana, and Marina Silva, Minister of Environment and Climate Change, Brazil. On behalf of Dr. Bharrat Jagdeo, Guyana’s PM Mark Phillips, accepted the award.
About Ministry of Environment, Forest, and Climate Change,(MoEFCC):
Union Minister– Bhupendra Yadav (Constituency -Alwar, Rajasthan)
Minister of State (MoS)– Kirtivardhan Singh (Constituency- Gonda , Uttar Pradesh UP)
>> Read Full News

India’s MoD Signs USD 248 Million Contract with Russia’s RoE  for Procurement of Engines for T-72 Tanks for IAOn 7 March 2025, the Ministry of Defence (MoD), the Government of India(GoI) signed a contract with Moscow (Russia) based Rosoboronexport (RoE), Russian Federation, worth USD 248 million for procurement of 1000 Horsepower(HP) Engines for T-72 Tanks. These engines will be delivered in fully formed, completely knocked down, and semi-knocked down conditions.

• The agreement includes Transfer of Technology (ToT) from RoE to Avadi (Chennai, Tamil Nadu, TN) based Armoured Vehicles Nigam Limited (Heavy Vehicle Factory) for integration and eventual licensed manufacturing of engines.
• This initiative supports the Make in India initiative in the defence sector.

Key Points:
i.The T-72 tank, first introduced in India in the 1970s, remains a key component of the Indian Army’s (IA) armored fleet, with around 2,500 tanks in operation.
ii.These tanks are currently equipped with a 780 HP engine.
iii.The IA’s battlefield mobility and offensive capacity would be enhanced by equipping its existing fleet of T-72 tanks with 1000 HP engines.
Note: In addition to its fleet of 2,400 T-72 tanks, the IA has inducted 1,300 T-90S ‘Bhishma’ tanks, out of the 1,657 being manufactured under license from Russia by the Heavy Vehicles Factory.
About Indian Army (IA):
Chief of the Army Staff (CoAS) – General Upendra Dwivedi
Headquarters – New Delhi, Delhi
Established – 1895

CEA and TPDDL organised the 5th Edition of Lineman Diwas in New Delhi
In March 2025, New Delhi (Delhi) based Central Electricity Authority (CEA), a statutory body under the Ministry of Power (MoP), in collaboration with Tata Power Delhi Distribution Limited (TPDDL) organized the 5th Edition of ‘Lineman Diwas’, in New Delhi, Delhi. Lineman Diwas is annually observed on March 4th across India.

• The day is being observed to recognize the crucial services of linemen and ground maintenance staff, the backbone of India’s electricity sector.
• The theme for the 5th edition of Lineman Diwas celebration was ‘Seva, Suraksha, Swabhiman’, which signifies the Dedication, Service and Sacrifice of the frontline heroes of the power sector.

i.Lineman Diwas was first organized by CEA in collaboration with TPDDL in March 2021 to honor the selfless service of these frontline heroes by dedicating a day to recognize and value their efforts.
ii.This cooperative endeavor enabled lineman to learn from their colleagues, extend their viewpoints, and strengthen efficient safety procedures, ultimately creating a more secure workplace for everyone.

BANKING & FINANCE

Niva Bupa Launches ‘Rise’ to Empower India’s Missing MiddleOn March 07, 2025, New Delhi (Delhi) based Niva Bupa Health Insurance Company Limited (formerly Max Bupa Health Insurance Company Limited) has introduced ‘Rise’, a health insurance plan to address the healthcare needs of India’s “Missing Middle”.

• The plan makes health insurance affordable, flexible, and customized to meet the needs of underserved communities, offering individuals and families access to healthcare and financial security.
• It aligns with the Insurance Regulatory and Development Authority of India’s (IRDAI) vision of “Insurance for All by 2047.

Key Features:
i.Affordable premiums: Rs. 6,416 to Rs. 8,669 (inclusive of 18% Goods and Service Tax, GST) for a Rs. 10 lakh sum insured.
ii.Flexi-Pay Benefit: Customers can start their policy by paying 20% of the total premium (e.g., Rs. 2,000 for a Rs. 10,000 premium) and pay the balance anytime during the policy tenure.

• Monthly subscriptions as low as 5% of the balance premium (e.g., Rs. 400) keep the policy active.

iii.Smart Cash Benefit: Customers treated at a government hospital can claim a Rs. 5,000 cash payout for post-treatment expenses.
iv.Return Benefit: 50% of the total premium paid is returned as an additional sum insured, with a 10% annual bonus on the accumulated amount.
v.Comprehensive Coverage: It covers hospitalization expenses, pre-and post-hospitalization costs, and daycare procedures.
Missing Middle:
According to the NITI Aayog report (October 2021), Missing Middle refers to 40 crore Indians who earn too much to qualify for government health schemes but too little to afford private health insurance.
About Niva Bupa Health Insurance Company Limited:
Managing Director (MD) & Chief Executive Director (CEO) – Krishnan Ramachandran
Headquarters – New Delhi (Delhi)
Founded – 2008

BoB Introduced “Bob Global Women NRE & NRO Savings Account” 
In March 2025, the first amongst public sector banks, Vadodara(Gujarat) based Bank of Baroda (BoB) introduced ‘bob Global Women Non-Resident External (NRE) and Non-Resident Ordinary (NRO) Savings Account’, designed exclusively for women Non-Resident Indians (NRIs) to fulfill their global aspirations and unique banking needs.
i.The initiative aims to support their global aspirations with features such as an auto sweep facility for higher interest earnings, concessional rates on home and auto loans, and reduced processing charges.

• This account includes a customised debit card with enhanced transaction limits, complimentary domestic and international lounge access, free safe deposit locker, and free personal and air accident insurance coverage.

ii.The Bank of Baroda serves its global customer base of over about 165 million through around 60,000 touch points spread across 17 countries on five continents.
iii.Additionally, BoB has redesigned its flagship NRI offerings, the bob Premium NRE and NRO Savings Account, to improve its features and advantages and provide customers with a more pleasant banking experience.

BoI Signs MoU with IA to Enhance ‘Rakshak Salary Package’ Benefits
On March 04, 2025, Mumbai (Maharashtra) based Bank of India (BOI) signed a Memorandum of Understanding (MoU) with the Indian Army (IA) to extend the BOI ‘Rakshak Salary Package’ to Army Personnel, Veterans, and Agniveers recruited under the Agnipath Scheme in New Delhi (Delhi).

• BoI’s Rakshak Salary Scheme is specifically designed salary account for defence and paramilitary personnel, aiming to provide enhanced financial benefits and services to the armed forces community.
• The signing-in ceremony was chaired by Lieutenant General Rajeev Puri, Director General (DG) (Military Police, MP & Provost Services, PS),IA and was attended by Major General VK Purohit, Additional Director General (ADG) of Police (Provisioning Services, PS); Subrat Kumar, Executive Director (ED), BoI.

i.The Key Benefits of the Rakshak Salary Package includes enhanced free comprehensive Personal Accident Insurance (PAI) coverage up to Rs.100 lakh and air accident coverage up to Rs.200 lakh.
ii.Provides attractive deals and concessions on BOI debit and credit cards and a range of other benefits tailored for defence personnel, paramilitary, and state police forces.
Note: Agnipath Scheme, launched by the Government of India (GoI) in June 2022, is a recruitment initiative for soldiers below the rank of commissioned officers across the IA, Indian Navy (IN), and Indian Air Force (IAF).

CredResolve Secures USD 1.1 Million Funding to Expand AI-Based Debt Recovery Solutions
In March 2025, Gurugram (Haryana)-based CredResolution India Private Limited (CredResolve), an Artificial Intelligence (AI)-driven debt collections platform, has secured USD 1.1 million in seed funding from Bengaluru(Karnataka) Unleash Capital Partners, a Japanese venture capital (VC) firm, along with CDM Capital based in Mumbai, Maharashtra.

• The investment will help the company enhance its technology and improve debt recovery processes while ensuring compliance with regulatory guidelines.

i.With this funding, CredResolve plans to expand its partnerships with over 25 financial institutions (FIs), including banks, fintech companies, Non Banking Financial Companies (NBFCs), and Asset Reconstruction Companies (ARCs).
ii.The company will also invest in upgrading its AI-powered debt resolution platform to optimize collections while maintaining compliance with financial regulations.
iii.CredResolve was founded in August 2023, currently serves over 20 lenders and has an annual recurring revenue (ARR) of USD 1 million. In February 2024, CredResolve raised USD 100K in an angel funding round.

• Its automated workflows improve efficiency, enhance borrower communication, and align with Reserve Bank of India (RBI) regulations.

RBI Imposes Rs 76.6 lakh Penalty on 4 NBFCs for Non-Compliance
In March 2025, Mumbai (Maharashtra) based Reserve Bank of India (RBI) imposed Rs 76.6 lakh penalty on four Non-Banking Financial Companies (NBFC) for non-compliance with certain sections of its orders regarding the ‘Peer-to-Peer (P2P) lending platform’.

• The penalties are based on deficiencies in regulatory compliance and do not impact the validity of any transactions or agreements between these entities and their customers.
• i.These penalties were imposed due to non-compliance with certain provisions of the ‘NBFC – P2P Lending Platform (Reserve Bank) Directions, 2017′.

i.A penalty of Rs 40 lakh has been imposed on Gurugram (Haryana) based Fairassets Technologies India Private Limited and Rs 10 lakh each has been imposed on Mumbai based Bridge Fintech Solutions Private Limited and Bengaluru (Karnataka) based Rang De P2P Financial Services Private Limited.
ii.The RBI also imposed a penalty of Rs 16.6 lakh on Mumbai based Visionary Financepeer Private Limited.

ECONOMY & BUSINESS

ICRA Projects India’s GDP Growth at 6.5% for FY26In March 2025, India’s Credit Rating Agency, ICRA Limited (formerly Investment Information and Credit Rating Agency of India Limited) released its latest FY2026 GDP Outlook report. The report has projected that India’s Gross Domestic Product (GDP) will grow at 6.5% in Financial Year 2025-26(FY26) compared to 6.3% expected in FY25.

• This growth projection is driven by expectations of a pickup in both rural and urban demand, as well as increased investment activity.
• The rating agency has also projected that the Gross Value Added (GVA) at basic price is expected to grow by 6.3% for FY26, supported by a recovery in consumption and investment activity.

Key Findings:
i.India’s GDP and GVA growth increased to 6.2% each in Quarter (Q3: October-December) of FY25 from 5.6% and 5.8%, respectively, in Q2FY25.
ii.As per the report, India’s GDP is projected to grow at an average rate of 6.7% from 2025 to 2031, with manufacturing GVA expected to expand at 9%.
iii.The report has projected that overall agriculture GVA growth will be at 3.5%-4.0% in FY26 compared to increase of 4.6% in FY25 Second Advance Estimate (SAE).
iv.The report cited that the growth in Capital Expenditure (capex) deployment by Government of India (GoI) and state governments will play a pivotal role in supporting India’s GDP growth for FY26.

• The report highlighted that 17% increase in the GoI’s effective capex in FY26 budget estimate and increase in the allocation towards the 50-year interest-free capex loan to state governments is likely to augur well for construction activity and GDP growth.

v.The report has cautioned that external demand will remain subdued in FY26 due to  the risks of potential trade wars, redirection of trade flows, disruption of supply chains, among others.

• These factors are most likely to affect India’s merchandise exports in FY26.

About ICRA Limited:
Managing Director (MD) and Chief Executive Officer (CEO)-  Ramnath Krishnan
Headquarters- Gurugram, Haryana
Established- 1991

India’s OTAI & Malaysia’s MPOC Collaborate to Promote Palm Oil Benefits in IndiaOn March 7, 2025, Kanpur (Uttar Pradesh) based Oil Technologists’ Association of India (OTAI) and Kuala Lumpur (Malaysia) based Malaysian Palm Oil Council (MPOC) signed a collaboration agreement to enhance awareness about the nutritional and health benefits of Malaysian palm oil in the Indian market.

• The partnership aims to foster sustainable trade growth between Malaysia and India by addressing misconceptions and promoting palm oil’s role in health, nutrition, and industrial applications.
• The collaboration will focus on consumer education, industry engagement, and scientific research to highlight palm oil’s benefits.

Key Initiatives:
i.Organizing industry seminars, conferences, and academic lectures to educate Indian consumers, food manufacturers, and stakeholders.
ii.Supporting research collaborations with Indian educational institutions to validate palm oil’s nutritional and functional properties.
iii.Promoting science-backed information to dispel misinformation and enhance consumer understanding.
Health Benefits of Palm Oil

• Trans-fat-free and rich in Vitamin E antioxidants, including tocopherols and tocotrienols, which support cardiovascular health.
• Contains a balanced profile of saturated and unsaturated fatty acids, essential for overall health.
• Natural compounds like beta-carotene further enhance its nutritional value.

About Malaysian Palm Oil Council (MPOC):
Chief Executive Officer (CEO) – Belvinder Sron
Headquarters – Kuala Lumpur, Malaysia
Established – 2000
About Oil Technologists’ Association of India (OTAI) :
President – Dr.Rajeev Churi
Headquarters – Kanpur, Uttar Pradesh
Established – 1943

DPIIT and Mercedes-Benz India Partner to Advance Manufacturing, Safety, and Sustainability
The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry (MoC&I) has signed a Memorandum of Understanding (MoU) with Mercedes-Benz India Private Limited based in Pune, Maharashtra to strengthen India’s manufacturing sector, road safety, and environmental sustainability.
i.The agreement was signed by Dr. Sumeet Kumar Jarangal, Director of DPIIT, and Santosh Iyer, Managing Director (MD) of Mercedes-Benz India, in the presence of senior officials from both organizations.
ii.This partnership will support startups, innovators, and entrepreneurs by helping them develop advanced technologies and contribute to society.
iii.As part of this initiative, structured programs will be introduced to provide startups with essential infrastructure, mentorship, funding, and market opportunities. The collaboration also aims to foster international partnerships and facilitate knowledge-sharing.

AWARDS & RECOGNITIONS

YouGov India Value Rankings 2025: Amazon, Flipkart, and Amul Rank as India’s Top BrandsIn March 2025, London, the United Kingdom(UK) based YouGov, an international online research data and analytics technology group released the ‘India Value Rankings 2025’.  Amazon based in Washington, United States of America (USA), Flipkart Private Limited based in Bengaluru, Karnataka and Anand Milk Union Limited(Amul) based in Anand, Gujarat are the top three most valued brands in India.

• Amul (Gujarat Cooperative Milk Marketing Federation), India’s largest milk cooperative, is the only Fast-Moving Consumer Goods (FMCG) brand to secure a position in the top three.

i.The YouGov India Value Rankings 2025 provide insights into the most valued brands based on consumer preferences. The rankings cover six key sectors, including airlines, consumer electronics, automobiles, general insurance, travel booking platforms, and electronic (e)-commerce.
ii.Men prefer brands like Tata Motors and Air India, highlighting their interest in automobiles and national airlines, while women favor Swiggy and Malabar Gold & Diamonds, showing a preference for convenience services and jewellery.
About Anand Milk Union Limited(AMUL):
Managing Director(MD) – Jayen Mehta
Headquarters – Anand (Gujarat)
Founded – 1946
>> Read Full News

Professor Suman Chakraborty Wins UNESCO’s TWAS Award for Developing Low-Cost Medical Diagnostic SolutionsIn March 2025, Suman Chakraborty, Professor of Mechanical Engineering, Indian Institute of Technology, Kharagpur (IIT-KGP), West Bengal(WB) has been awarded the 2026 The World Academy of Sciences (TWAS) Award in Engineering and Computer Sciences(CS) by the United Nations Educational, Scientific and Cultural Organization (UNESCO).
About Suman Chakraborty:
i.Suman Chakraborty is currently a Jagadish Chandra Bose National Fellow and a visiting lecturer at Stanford University, California, United States of America (USA).
ii.His research focuses on affordable, simple-to-execute and innovative diagnostic solutions for medical challenges, including anaemia, cancer, COVID-19, and tuberculosis.
iii.His notable innovations include,

• Oroscreen – A torch-like imaging device for the early detection of oral cancer.
• Covirap – A rapid COVID-19 detection test kit. The latter has been granted a United States(U.S.) patent for its rapid nucleic acid testing technology using Deoxyribonucleic acid (DNA) and Ribonucleic acid (RNA) samples.
• PrepapQR – A home test for women to accurately test vaginal potential of hydrogen(Ph) with the help of a strip.
• HemoQR – A simplified anaemia screening technology.

About The World Academy of Sciences (TWAS) Award:
i.The TWAS Awards have been presented annually since their inception in 1985. From 2020, TWAS Award presented biennially, recognizes scientists from developing countries for their outstanding contributions to scientific knowledge and sustainable development.
ii.The award winner will receives a cash prize of USD 10,000, along with a commemorative plaque during TWAS General Conference.

APPOINTMENTS & RESIGNATIONS

GoI Appointed Vikas Kaushal as CMD of HPCL for 5 yearsIn March 2025, the Government of India (GoI) appointed Vikas Kaushal, a private-sector consultant, as Chairman and Managing Director (CMD) of Mumbai (Maharashtra) based Hindustan Petroleum Corporation Limited (HPCL) for five years.

• He succeeds Rajneesh Narang, Director (finance), who has had the additional charge of CMD since September 1, 2024.
• The Appointments Committee of the Cabinet (ACC) has approved the Ministry of Petroleum and Natural Gas (MoPNG) proposal for the appointment of Vikas Kaushal as CMD HPCL with relaxation of the eligibility criteria.

About Vikas Kaushal:
i.Vikas Kaushal has been the MD and Country Head for Mumbai (Maharashtra) based Kearney India for five years.
ii.He has also been an advisor and consultant to the leadership of several domestic firms, including HPCL, Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), Gas Authority of India Limited (GAIL) and several others.
iii.Prior to this, he was twice elected to Kearney’s Global Board of Directors, serving for two full terms. He also chaired the finance, audit, and governance committees.
About Hindustan Petroleum Corporation Limited (HPCL):
Headquarters – Mumbai, Maharashtra
Established – 1974

RBI Approves One-Year Extension for Sumant Kathpalia CEO of IndusInd Bank
In March 2025, the Reserve Bank of India (RBI) granted only a one-year extension to Sumant Kathpalia, Managing Director (MD) and Chief Executive Officer (CEO), Mumbai(Maharashtra) based IndusInd Bank, effective from March 24, 2025, to March 23, 2026.

• The approval follows IndusInd Bank’s earlier letter on September 27, 2024, addressing the proposal to extend his tenure. The reappointment requires shareholder approval.
• In September 2022, the bank’s board had approved his reappointment for three years, effective March 24, 2023, but RBI sanctioned only a two-year term. In September 2024, the board again sought a three-year extension, from March 24, 2025, to March 23, 2028, but RBI has now approved only a one-year extension.

i.Sumant Kathpalia, who has 37 years of experience in the banking sector and has been with IndusInd Bank for 17 years.
ii.Additionally, he has working  experience with international banks such as Algemene Bank Nederland and Amsterdam-Rotterdam (ABN AMRO) Bank, Bank of America, and Citibank.

Dr Himanshu Pathak Assumes Charge as DG of ICRISAT
In March 2025, Renowned agricultural scientist Dr Himanshu Pathak assumed charge as the Director General (DG) of Hyderabad (Telangana) based International Crops Research Institute for the Semi-Arid Tropics (ICRISAT). The only international agricultural research center in India. He succeeds Stanford Blade, who served as the interim DG of ICRISAT.
i.He served as the Union Secretary of the New Delhi(Delhi) based Department of Agriculture Research and Education (DARE), Ministry of Agriculture and Farmers Welfare (MoA&FW).
ii.He also served as the DG of New Delhi (Delhi) based Indian Council of Agricultural Research (ICAR).
iii.He held various positions including, the Director of Pune (Maharashtra) based ICAR-National Institute of Abiotic Stress Management and Cuttack (Odisha) based Director of the ICAR-National Rice Research Institute.
iv.He has also been a visiting scientist at the University of Essex in the United Kingdom (UK), and the German-based Institute of Meteorology and Climate Research (IMK).

SPORTS

Indian GM Pranav Venkatesh Won ‘FIDE World Junior U20 Championship 2025’On March 7, 2025, Indian Chess Grandmaster (GM) Pranav Venkatesh from Bengaluru (Karnataka) won the ‘International Chess Federation(FIDE) World Junior U20 (Under-20) Championship 2025’ title, held from February 26 to March 7, 2025, in Petrovac, Montenegro.

• With an impressive 9 points from 11 rounds, he remained undefeated in the open category, clinching the title after defeating FIDE Master (FM) Matic Lavrencic of Slovenia.
• While, Woman International Master(WIM) Anna Shukhman(FIDE) won the Girl’s title with a score of 9/11 after defeating Ayan Allahverdiyeva of Azerbaijan.
• The tournament featured 157 players, including 12 Grandmasters (GMs) in the Open category, and 98 players in the Girls category.

Prize Money:
The total prize fund for the 2025 FIDE World Junior U20 Championship was 10,000 Euros.

• The top three prizes in the Open section were 3,000 Euros, 2,000 Euros and 1,000 Euros, along with a medal and trophy for each.
• In the Girls’ section, the top prizes were 2,000 Euros, 1,250 Euros, and 750 Euros , also with a medal and trophy for each winner.

About International Chess Federation (FIDE – Fédération Internationale des Échecs):
President – Arkady Dvorkovich
Headquarters – Lausanne, Switzerland
Founded – 1924
>> Read Full News

STATE NEWS

Nagaland CM Neiphiu Rio Presented Rs 24,849 Crore Budget for FY26In March 2025, the Chief Minister (CM) of Nagaland Neiphiu Rio who also holds finance portfolio,  presented Rs 24,849 crore state budget for Financial Year 2025-26 (FY26) in the Nagaland Legislative Assembly in Kohima, Nagaland.

• The budget estimated the total receipts for FY26 at Rs 24,849.01 crore and total expenditure at Rs 24,699.01 crore.

i.While presenting the budget, CM highlighted that total development outlay including Centrally Sponsored Scheme (CSS) stands at Rs 5,819.24 crore for FY26, of which Rs 1,200 crore is contributed from state’s own resources, marks an increase of Rs 190 crore compared to the last year, registering  a growth of 18.81%.
ii.Rs  5 crore has been allocated for the ‘Nagaland Skill Mission’ which aims to train 5,000 youth in 2025-26 in self-employment and private-sector employment, with entrepreneurships linked to the Chief Ministers Micro Finance Initiative (CMMFI).

• The budget has also allocated Rs 15 crore for next year’s premium of Chief Minister’s Life  Insurance Scheme (CMLIS), which was launched on October 1, 2024 with nearly 4 lakh enrollments.

About Nagaland:
Chief Minister (CM)- Neiphiu Rio
Governor- La Ganesan
Capital- Kohima
National Parks (NPs)- Ntangki NP
>> Read Full News

J&K CM Omar Abdullah Presented Rs 1.12 lakh Crore Budget for FY26 with Zero-deficit In March 2025, the Chief Minister (CM) of Union Territory (UT) Jammu & Kashmir (J&K) Omar Abdullah who also holds finance portfolio, presented Rs 1.12 lakh crore (Rs 1,12,310 crore) state budget, excluding provisions for Ways and Means Advances (WMA) and overdrafts for Financial Year 2025-26 (FY26), with main focus on zero-deficit budget, at J&K Assembly in Jammu, J&K.

• This marked the 1st budget by an elected government in J&K in 7 years.
• The last budget was presented in 2018 under the Peoples Democratic Party -Bharatiya Janta Party (PDP-BJP) led coalition government in the erstwhile state of J&K, which was accorded the status of UT after the abrogation of Article 370 on August 5, 2019.

i.The total receipts are estimated at Rs 1,40,309.99 crore, including provisions for an overdraft worth Rs 28,000 crore for FY26.

• The revenue receipts are estimated at Rs 97,982 crore and capital receipts at Rs 14,328 crore.
• The budget has estimated total gross expenditure at Rs 1,40,309.99 crore for FY26.

ii.The government has announced that from April 1 2025, all women in the UT will be granted free-ridership on government-owned public transport, including e-buses.

• The government has also announced to provide a free ration of 10 kilogram (kg) per person to all beneficiaries of Antyodaya Anna Yojana (AAY) starting from April 1, 2025.
• Also, the government has increased the Marriage assistance for women beneficiaries covered under AAY  from Rs 50,000 to Rs 75,000.

About Jammu & Kashmir (J&K):
Capital- Jammu (in winter) and Srinagar (in summer)
Chief Minister (CM)- Omar Abdullah
Lieutenant Governor (LG)– Manoj Sinha
National Parks (NPs)- Dachigam NP, Salim Ali NP
>> Read Full News

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