UPSC CURRENT AFFAIRS – 3 February 2025
Kartavya Desk Staff
UPSC CURRENT AFFAIRS – 3 February 2025 covers important current affairs of the day, their backward linkages, their relevance for Prelims exam and MCQs on main articles
InstaLinks : Insta Links help you think beyond the current affairs issue and help you think multidimensionally to develop depth in your understanding of these issues. These linkages provided in this ‘hint’ format help you frame possible questions in your mind that might arise(or an examiner might imagine) from each current event. InstaLinks also connect every issue to their static or theoretical background.
Table of Contents
GS Paper 3 : (UPSC CURRENT AFFAIRS – 3 February (2025)
• Glance of Union Budget 2025
Glance of Union Budget 2025
• AI-Driven Genetic Testing
AI-Driven Genetic Testing
Content for Mains Enrichment (CME):
• Chocolate War
Chocolate War
Facts for Prelims (FFP):
• Prime Minister Dhan-Dhaanya Krishi Yojana
Prime Minister Dhan-Dhaanya Krishi Yojana
• Presumptive Taxation
Presumptive Taxation
• Cardamom
Cardamom
• Gyan Bharatam Mission
Gyan Bharatam Mission
• Insurance Sector and FDI Limit
Insurance Sector and FDI Limit
• Man Portable Air Defence System (MANPAD)
Man Portable Air Defence System (MANPAD)
Mapping:
• South Georgia Island
South Georgia Island
UPSC CURRENT AFFAIRS – 3 February 2025
#### GS Paper 3 :
Glance of Union Budget 2025
Syllabus: Economics
Source: TH
Context: Finance Minister presented the Union Budget 2025 on February 1, 2025, announcing major tax reliefs, infrastructure investments, and employment generation initiatives.
Major Proposals of Union Budget 2025:
• Income Tax Exemption Increased: No income tax up to ₹12 lakh under the new tax regime, benefiting the middle class.
E.g. Salaried taxpayers get ₹12.75 lakh exemption due to standard deduction.
• Capital Expenditure Hike: ₹11.21 lakh crore allocated for infrastructure, 10% increase from FY24-25.
E.g. ₹2.3 lakh crore for railways, ₹1.3 lakh crore for expressways.
• National Manufacturing Mission: Aims to boost ‘Make in India’, reduce import dependency, and enhance industrial production.
E.g. Expansion of PLI schemes for semiconductors & electronics.
• Employment Generation Drive: 22 lakh jobs to be created, focusing on MSMEs, leather, and textile sectors.
E.g. ₹4,000 crore allocated for MSME credit expansion.
• Agriculture Sector Support: Prime Minister Dhan-Dhaanya Krishi Yojana to boost 100 low-yield districts, with ₹1.2 lakh crore rural credit push.
E.g. KCC loan limit increased to ₹5 lakh.
• Nuclear Energy Mission: ₹20,000 crore allocated for Small Modular Reactors (SMRs), with five SMRs operational by 2033.
E.g. Strengthening India’s clean energy roadmap.
• Boost to UDAN Scheme: Expansion of regional connectivity to 120 new destinations under the modified UDAN scheme.
E.g. Target of 4 crore passengers in 10 years.
• Makhana Board in Bihar: Dedicated board for Makhana production & export promotion, enhancing value chain & marketing support.
E.g. ₹500 crore for Makhana farmers’ welfare.
• Reduction in Fiscal Deficit: Target reduced to 4.4% of GDP from 4.8%, focusing on fiscal consolidation.
E.g. ₹11.54 lakh crore net market borrowings planned.
• Green Energy and Climate Push: ₹10,000 crore for lithium-ion battery recycling and solar PV incentives to strengthen clean energy.
E.g. Green hydrogen production incentives introduced.
NOTE: Detail budget summary document is available here.
Positives of Indian Budget 2025:
• Boost to Middle-Class Consumption: Tax relief of ₹1 lakh crore increases disposable income, driving higher demand in retail, auto, and real estate.
E.g. Auto sector expected 15% sales growth due to increased purchasing power.
• Strong Fiscal Discipline: Fiscal deficit target reduced to 4.4% of GDP from 4.8%, ensuring macroeconomic stability.
E.g. Revenue growth projected at 11.2%, balancing deficit concerns.
• Infrastructure Expansion: Increased capital expenditure to ₹11.21 lakh crore boosts logistics, transportation, and energy sectors.
E.g. ₹2.3 lakh crore for railway modernization.
• Support for MSMEs and Startups: New credit schemes and relaxed compliance norms for MSMEs.
E.g. ₹20,000 crore allocated to enhance small business financing.
• Thrust on Nuclear Energy & Green Transition: ₹20,000 crore allocated for a Nuclear Energy Mission and development of five small modular reactors (SMRs) by 2033.
E.g. ₹10,000 crore for lithium-ion battery recycling & solar PV incentives.
Limitations in Budget 2025
• Overestimated Revenue Projections: Income tax revenue growth target at 14.4% seems ambitious despite major tax cuts.
E.g. Revenue foregone due to tax exemptions at ₹1 lakh crore.)
• Limited Agricultural Reforms: No structural reforms in MSP mechanism or crop diversification incentives, continuing farmer distress.
E.g. Wheat & rice stockpile issues remain unaddressed.
• Lack of R&D Focus: India’s R&D spending remains 0.64% of GDP, far below global standards like China (2.2%) or Germany (3.1%).
E.g. No major funding for industrial R&D innovation.
• Subdued Private Investment Boost: While capex is increased, no major incentives for private sector to drive investments.
E.g. PLI schemes need further policy clarity & execution speed.
• Missed Opportunity for Export Growth: While UDAN Scheme expansion helps domestic connectivity, export incentives remain weak.
E.g. No major tax rebates for high-value exports like pharmaceuticals & electronics.
Way Forward
• Diversify Tax Revenue Sources: Broaden GST base and reduce dependence on income tax to sustain revenue growth.
E.g. Rationalizing GST slabs for better compliance.
• Comprehensive Agri-Reforms: Implement market-based MSP and export-driven agricultural strategies.
E.g. Promote millets & organic farming for global markets.
• Strengthen Manufacturing & R&D: Increase R&D spending to 1.5% of GDP and encourage clean-tech industries.
E.g. Incentives for AI-driven manufacturing to enhance global competitiveness.
• Enhance Private Sector Participation: Strengthen PPP models in infrastructure, energy, and transport sectors to reduce fiscal burden.
E.g. Involve private players in smart city projects.
• Long-Term Climate Strategy: Develop Green Energy Fund and scale up solar, wind, and hydrogen investments.
E.g. ₹5,000 crore for green hydrogen production targets.
Conclusion:
The Union Budget 2025 is a growth-oriented and middle-class-friendly budget with major tax reliefs, infrastructure expansion, and job creation plans. While the fiscal discipline and manufacturing push are commendable, agriculture and exports need deeper reforms. A balanced execution strategy will be key to achieving Viksit Bharat’s long-term economic goals.
Insta Links:
• Union-budget-2025-summary
• Distinguish between capital budget and revenue budget. Explain the components of both these Budgets. (UPSC-2021)
AI-Driven Genetic Testing
Syllabus: Science and Technology
Source: TH
Context: AI-driven genetic testing is revolutionizing genomic research and precision medicine, enabling rapid analysis of vast genetic datasets.
AI in Genetic Testing:
• AI-Powered Genome Sequencing: Machine Learning (ML) deciphers DNA patterns, identifying mutations, genetic disorders, and disease risks.
E.g. John’s Hopkins researchers identified 1,200 junk DNA elements linked to tumors using AI in 2024.
• Deep Learning for Mutation Detection: AI models analyze gene variations to detect potential cancerous mutations and hereditary diseases.
E.g. Gene Box AI predicts genetic predispositions with 98% accuracy.
• Personalized Genetic Profiling: AI integrates gene-environment interactions, offering tailored health recommendations based on genetic traits.
E.g. AI-driven reports in consumer genetic testing services.
• CRISPR Gene Editing Optimization: AI assists CRISPR-Cas9 precision editing by predicting off-target effects, improving gene therapy success rates.
E.g. AI models enhance CRISPR accuracy in genetic disorder treatments.
• Predictive Genetic Risk Analysis: AI forecasts disease risks (e.g., Alzheimer’s, diabetes) based on genetic markers, guiding early prevention strategies.
E.g. 80 genes linked to Alzheimer’s identified using AI.
Significance of AI in Genetic Testing:
• Faster and Cost-Effective Analysis: AI reduces genome sequencing time from weeks to hours, cutting costs by 50%.
• Enhanced Diagnostic Accuracy: AI improves mutation detection by analyzing large genomic datasets, increasing early disease identification.
• Advancement in Drug Discovery: AI accelerates precision medicine by identifying gene-drug interactions, leading to personalized treatments.
• Expansion of Preventive Healthcare: AI aids in early genetic screening, reducing lifestyle disease burdens through targeted interventions.
• Integration with Digital Health Platforms: AI-driven genetic reports integrate with wearable tech & electronic health records (EHRs) for real-time monitoring.
Limitations of AI-Driven Genetic Testing:
• Data Privacy and Security Risks: Genetic data breaches, like 23andMe (2023), expose sensitive patient information to cyber threats.
E.g. 6.9 million genetic profiles leaked, leading to identity theft risks.
• Ethical and Psychological Concerns: AI predictions on mental health or genetic predispositions may cause anxiety and discrimination.
E.g. Genetic tests for depression lack clear clinical guidelines.
• Risk of Algorithmic Bias: AI models trained on limited ethnic/genetic datasets may yield inaccurate predictions for diverse populations.
E.g. AI-based genetic studies are 90% Euro-centric, limiting global applicability.
• Uncertainty in Clinical Relevance: AI identifies genetic variations, but not all mutations lead to diseases, causing misinterpretations.
E.g. 40% of genetic markers for Alzheimer’s are still under research.
• Regulatory and Compliance Gaps: AI in genetics lacks strict regulations under HIPAA laws, leading to unmonitored data usage.
E.g. Genetic startups operate in legal grey zones regarding data ownership.
Way Forward for AI in Genetic Testing:
• Strengthening Data Protection Laws: Governments must enforce strict regulations on genetic data security to prevent breaches and misuse.
E.g. EU’s GDPR mandates explicit consent for genetic data processing.
• Developing Inclusive AI Models: Expanding genetic datasets to diverse populations ensures fair and accurate predictions.
E.g. Global Genome Initiative aims to include genetic diversity from all continents.
• Enhancing AI Transparency and Explainability: AI models must be interpretable, allowing clinicians & patients to understand genetic insights clearly.
E.g. Explainable AI frameworks help in validating genetic test results.
• Public Awareness and Genetic Literacy: Educating users on genetic testing limitations, ethical concerns, and data risks promotes informed decision-making.
E.g. Government-backed genetic awareness programs to debunk myths.
• Robust Clinical Validation Before Adoption: AI-driven genetic findings should undergo rigorous clinical trials before integration into mainstream medicine.
E.g. AI-based cancer mutation tests require FDA approvals before usage.
Conclusion:
AI-driven genetic testing enhances diagnostic precision, speeds up genome analysis, and supports preventive healthcare. However, privacy risks, ethical concerns, and regulatory gaps remain major hurdles. By enforcing stricter data security measures and improving AI inclusivity, genetic AI can be a transformative force in medicine while ensuring ethical and safe implementation.
Insta Links:
• Genome-India-project
• What are the research and developmental achievements in applied biotechnology? How will these achievements help to uplift the poorer sections of the society? (UPSC-2021)
#### UPSC CURRENT AFFAIRS – 3 February 2025 Content for Mains Enrichment (CME)
Chocolate War
Context: The Jharkhand Police has launched the “Chocolate War” initiative to combat illegal opium cultivation in Maoist-affected regions.
What is Chocolate War?
• Unique Awareness Campaign: Police distribute chocolates wrapped with anti-opium messages in rural weekly markets. The wrapper highlights legal consequences of opium cultivation under the NDPS Act, warning of up to life imprisonment and property confiscation.
• Police distribute chocolates wrapped with anti-opium messages in rural weekly markets.
• The wrapper highlights legal consequences of opium cultivation under the NDPS Act, warning of up to life imprisonment and property confiscation.
• Targeted Regions: The initiative is actively implemented in Khunti, Ranchi, Hazaribagh, Latehar, Palamu, and Chatra districts known for opium cultivation. Maoist insurgents and local mafias are allegedly involved in promoting illegal cultivation.
• The initiative is actively implemented in Khunti, Ranchi, Hazaribagh, Latehar, Palamu, and Chatra districts known for opium cultivation.
• Maoist insurgents and local mafias are allegedly involved in promoting illegal cultivation.
• Multi-Pronged Strategy: Street plays and door-to-door campaigns are conducted to educate farmers. Alternative livelihood options are being encouraged to replace opium farming. Strict legal enforcement measures, including FIRs and crop destruction, are being implemented.
• Street plays and door-to-door campaigns are conducted to educate farmers.
• Alternative livelihood options are being encouraged to replace opium farming.
• Strict legal enforcement measures, including FIRs and crop destruction, are being implemented.
Relevance in UPSC Exam Syllabus:
• General Studies (GS) Paper 2 – Governance & Law Enforcement Role of police in curbing illegal activities (NDPS Act enforcement). Use of innovative governance models for behavioral change in society.
• Role of police in curbing illegal activities (NDPS Act enforcement).
• Use of innovative governance models for behavioral change in society.
• General Studies (GS) Paper 3 – Internal Security & Narcotics Control Nexus between organized crime, Maoists, and drug trade in conflict regions. Impact of drug cultivation on rural economy and security challenges.
• Nexus between organized crime, Maoists, and drug trade in conflict regions.
• Impact of drug cultivation on rural economy and security challenges.
• Ethics Paper (GS Paper 4) – Ethical Governance & Public Administration Police accountability and social responsibility in combating crime. Behavioral change tactics in policy implementation (nudge theory in governance).
• Police accountability and social responsibility in combating crime.
• Behavioral change tactics in policy implementation (nudge theory in governance).
#### UPSC CURRENT AFFAIRS – 3 February 2025 Facts for Prelims (FFP)
Prime Minister Dhan-Dhaanya Krishi Yojana
Source: ToI
Context: Finance Minister announced the Prime Minister Dhan-Dhaanya Krishi Yojana in the Union Budget 2025-26, targeting 100 districts with low agricultural productivity.
About PM’s Dhan-Dhaanya Krishi Yojana:
• Ministry: Ministry of Agriculture and Farmers’ Welfare.
• Outlay: No separate allocation, but Rs 1,000 crore allocated for pulses, Rs 500 crore for fruits and vegetables, and Rs 100 crore for hybrid seeds.
• Aim: To boost agricultural productivity, crop diversification, post-harvest storage, irrigation facilities, and credit access in 100 low-productivity districts.
• Features: Convergence of existing schemes and specialized measures. Focus on sustainable agriculture and crop diversification. Improved post-harvest storage at panchayat and block levels. Enhanced irrigation and credit facilities. Targets small and marginal farmers, rural women, and landless families.
• Convergence of existing schemes and specialized measures.
• Focus on sustainable agriculture and crop diversification.
• Improved post-harvest storage at panchayat and block levels.
• Enhanced irrigation and credit facilities.
• Targets small and marginal farmers, rural women, and landless families.
Insta links:
• Importance-of-Millets
Presumptive Taxation
Source: IE
Context: Finance Minister introduced a presumptive taxation regime for non-residents in the Union Budget 2025-26, specifically targeting those providing services in India’s electronics manufacturing sector.
About Presumptive Taxation:
• What is Presumptive Taxation? A simplified tax scheme where income is calculated based on a presumed rate of profit rather than actual income. Designed to reduce compliance burden and simplify tax filing for small businesses and professionals.
• A simplified tax scheme where income is calculated based on a presumed rate of profit rather than actual income.
• Designed to reduce compliance burden and simplify tax filing for small businesses and professionals.
• Eligibility: Non-residents providing services or technology to Indian companies setting up or operating electronics manufacturing facilities. Excludes businesses like goods carriage, agency work, and professions requiring detailed bookkeeping.
• Non-residents providing services or technology to Indian companies setting up or operating electronics manufacturing facilities.
• Excludes businesses like goods carriage, agency work, and professions requiring detailed bookkeeping.
• Why Imposed? To attract foreign technicians and companies to India’s electronics and semiconductor sectors. To provide tax certainty and reduce compliance burdens for non-residents. To align with India’s goal of becoming a global manufacturing hub under initiatives like Make in India.
• To attract foreign technicians and companies to India’s electronics and semiconductor sectors.
• To provide tax certainty and reduce compliance burdens for non-residents.
• To align with India’s goal of becoming a global manufacturing hub under initiatives like Make in India.
• Impacts on Economy: Boost to Electronics Manufacturing: Encourages foreign investment and technology transfer in critical sectors like semiconductors. Job Creation: Increased foreign presence will create skilled and semi-skilled jobs. Reduced Compliance Burden: Simplifies tax filing for non-residents, making India a more attractive destination for business. Global Competitiveness: Enhances India’s position as a preferred manufacturing base for electronics and semiconductors.
• Boost to Electronics Manufacturing: Encourages foreign investment and technology transfer in critical sectors like semiconductors.
• Job Creation: Increased foreign presence will create skilled and semi-skilled jobs.
• Reduced Compliance Burden: Simplifies tax filing for non-residents, making India a more attractive destination for business.
• Global Competitiveness: Enhances India’s position as a preferred manufacturing base for electronics and semiconductors.
Key Highlights of Presumptive Taxation in Budget 2025
• New Section 44BBD: Introduced in the Income Tax Act for non-residents in electronics manufacturing. 25% of gross receipts deemed as income, taxed at 35%, resulting in an effective tax rate of less than 10%.
• Introduced in the Income Tax Act for non-residents in electronics manufacturing.
• 25% of gross receipts deemed as income, taxed at 35%, resulting in an effective tax rate of less than 10%.
• Exclusion from Significant Economic Presence (SEP): Non-residents purchasing goods in India for export will not be considered to have a significant economic presence in India. Provides clarity and reduces tax liability for export-oriented activities.
• Non-residents purchasing goods in India for export will not be considered to have a significant economic presence in India.
• Provides clarity and reduces tax liability for export-oriented activities.
• Effective Date: Applicable from April 1, 2026, for the assessment year 2026-27 and subsequent years.
• Applicable from April 1, 2026, for the assessment year 2026-27 and subsequent years.
Insta links:
• What-extent-has-make-in-india-succeeded-in-promoting-local-manufacturing
Cardamom
Source: TH
Context: An international research team has identified two new species of cardamom in Kerala’s Western Ghats, expanding the genus Elettaria to seven species.
About Cardamom:
• What is Cardamom? Known as the “Queen of Spices,” cardamom (Elettaria cardamomum) is a highly aromatic spice belonging to the Zingiberaceae (ginger) family. Native to the evergreen rainforests of the Western Ghats in South India, it is primarily cultivated in Kerala, Karnataka, and Tamil Nadu.
• Known as the “Queen of Spices,” cardamom (Elettaria cardamomum) is a highly aromatic spice belonging to the Zingiberaceae (ginger) family.
• Native to the evergreen rainforests of the Western Ghats in South India, it is primarily cultivated in Kerala, Karnataka, and Tamil Nadu.
• Climatic Conditions for Growth: Rainfall: 1500–4000 mm annually. Temperature: 10°C to 35°C. Altitude: 600–1500 meters above sea level. Soil: Acidic, loamy, and humus-rich forest soils with a pH of 5.0–6.5.
• Rainfall: 1500–4000 mm annually.
• Temperature: 10°C to 35°C.
• Altitude: 600–1500 meters above sea level.
• Soil: Acidic, loamy, and humus-rich forest soils with a pH of 5.0–6.5.
• State-wise Production: Kerala: Contributes 58% of India’s cardamom production, primarily in Idukki district. Karnataka: Major production in Kodagu and Chikmagalur districts. Tamil Nadu: Cultivated in the Nilgiri hills.
• Kerala: Contributes 58% of India’s cardamom production, primarily in Idukki district.
• Karnataka: Major production in Kodagu and Chikmagalur districts.
• Tamil Nadu: Cultivated in the Nilgiri hills.
• Newly Identified Cardamom Species: Elettaria facifera: Found in Periyar Tiger Reserve, Idukki. Elettaria tulipifera: Discovered in Agasthyamalai hills (Thiruvananthapuram) and Munnar (Idukki). These species were previously misclassified under the genus Alpinia and have now been reclassified under Elettaria.
• Elettaria facifera: Found in Periyar Tiger Reserve, Idukki.
• Elettaria tulipifera: Discovered in Agasthyamalai hills (Thiruvananthapuram) and Munnar (Idukki).
• These species were previously misclassified under the genus Alpinia and have now been reclassified under Elettaria.
• Significance of the Discovery: Biodiversity Conservation: Highlights the rich flora of the Western Ghats, a global biodiversity hotspot. Genetic Resources: Offers potential for developing new cardamom varieties with enhanced traits like disease resistance and higher yield. Economic Impact: Strengthens India’s position as a leading cardamom producer and exporter, second only to Guatemala globally.
• Biodiversity Conservation: Highlights the rich flora of the Western Ghats, a global biodiversity hotspot.
• Genetic Resources: Offers potential for developing new cardamom varieties with enhanced traits like disease resistance and higher yield.
• Economic Impact: Strengthens India’s position as a leading cardamom producer and exporter, second only to Guatemala globally.
Insta links:
• Cardamom
Gyan Bharatam Mission
Source: The Print
Context: The Union Budget 2025-26 introduced the Gyan Bharatam Mission, a special initiative for the survey, documentation, and conservation of India’s manuscript heritage.
About Gyan Bharatam Mission:
• What is Gyan Bharatam Mission? A national initiative launched to survey, document, and conserve India’s rich manuscript heritage. Focuses on manuscripts held by academic institutions, museums, libraries, and private collectors.
• A national initiative launched to survey, document, and conserve India’s rich manuscript heritage.
• Focuses on manuscripts held by academic institutions, museums, libraries, and private collectors.
• Ministry: Ministry of Culture.
• Budget Allocation: National Mission for Manuscripts (NMM): Allocation increased from ₹3.5 crore to ₹60 crore.
• National Mission for Manuscripts (NMM): Allocation increased from ₹3.5 crore to ₹60 crore.
• Aim: To identify, document, and conserve India’s manuscript heritage. To make manuscripts accessible to researchers, scholars, and the public. To preserve the wisdom and knowledge contained in ancient texts for future generations.
• To identify, document, and conserve India’s manuscript heritage.
• To make manuscripts accessible to researchers, scholars, and the public.
• To preserve the wisdom and knowledge contained in ancient texts for future generations.
• Features: Survey and Documentation: Comprehensive survey of over one crore manuscripts across India. Conservation: Advanced techniques to preserve fragile and ancient manuscripts. Digitization: Digitizing manuscripts to ensure wider accessibility and prevent physical degradation. Autonomous Body: Plans to establish an autonomous body for better implementation and management of the mission. Collaboration: Partnerships with academic institutions, museums, and private collectors for effective execution.
• Survey and Documentation: Comprehensive survey of over one crore manuscripts across India.
• Conservation: Advanced techniques to preserve fragile and ancient manuscripts.
• Digitization: Digitizing manuscripts to ensure wider accessibility and prevent physical degradation.
• Autonomous Body: Plans to establish an autonomous body for better implementation and management of the mission.
• Collaboration: Partnerships with academic institutions, museums, and private collectors for effective execution.
Insta links:
Insurance Sector and FDI Limit
Source: BT
Context: The Union Budget 2025-26 proposed raising the FDI limit in the insurance sector from 74% to 100%, aiming to attract global investments and achieve the goal of ‘Insurance for All by 2047’.
About the Insurance Sector:
• What is the Insurance Sector? A critical component of the financial services industry, providing risk protection through life, health, and general insurance products. Plays a vital role in economic stability by offering financial security against unforeseen events.
• A critical component of the financial services industry, providing risk protection through life, health, and general insurance products.
• Plays a vital role in economic stability by offering financial security against unforeseen events.
• Global Status: India is the 10th largest insurance market globally and the 2nd largest among emerging markets. Expected to become the 6th largest market by 2033, surpassing countries like Germany and Canada. The market is projected to reach USD 222 billion by 2026.
• India is the 10th largest insurance market globally and the 2nd largest among emerging markets.
• Expected to become the 6th largest market by 2033, surpassing countries like Germany and Canada.
• The market is projected to reach USD 222 billion by 2026.
• Insurance Density: It is the ratio of premiums collected by insurance companies to the country’s population Increased from USD 11.1 in 2001 to USD 95 in 2023-24. Life Insurance Density: Stable at USD 70. Non-Life Insurance Density: Rose from USD 22 to USD 25.
• It is the ratio of premiums collected by insurance companies to the country’s population
• Increased from USD 11.1 in 2001 to USD 95 in 2023-24. Life Insurance Density: Stable at USD 70. Non-Life Insurance Density: Rose from USD 22 to USD 25.
• Life Insurance Density: Stable at USD 70.
• Non-Life Insurance Density: Rose from USD 22 to USD 25.
• Insurance Penetration: It is the percentage of a country’s insurance premiums to its gross domestic product (GDP). It’s a measure of how developed a country’s insurance sector is. Declined from 4% in 2022-23 to 3.7% in 2023-24. Life Insurance Penetration: Fell from 3% to 2.8%. General Insurance Penetration: Remained at 1%.
• It is the percentage of a country’s insurance premiums to its gross domestic product (GDP).
• It’s a measure of how developed a country’s insurance sector is.
• Declined from 4% in 2022-23 to 3.7% in 2023-24. Life Insurance Penetration: Fell from 3% to 2.8%. General Insurance Penetration: Remained at 1%.
• Life Insurance Penetration: Fell from 3% to 2.8%.
• General Insurance Penetration: Remained at 1%.
• LIC and Market Composition: Life Insurance Corporation (LIC): Holds 62.58% market share in new business premiums (FY23). Private Sector: Market share in general and health insurance rose from 48.03% in FY20 to 62.5% in FY23.
• Life Insurance Corporation (LIC): Holds 62.58% market share in new business premiums (FY23).
• Private Sector: Market share in general and health insurance rose from 48.03% in FY20 to 62.5% in FY23.
Key Reforms in Budget 2025-26:
- 1.FDI Limit Increased to 100%:
o Aimed at attracting global investors and fostering innovation.
o Condition: Companies must invest the entire premium in India.
- 1.GST Rationalization: Current GST rate of 18% on insurance premiums remains unchanged, but discussions are ongoing for potential reductions.
Insta links:
Man Portable Air Defence System (MANPAD)
Source: IE
Context: The Defence Research and Development Organisation (DRDO) successfully conducted three flight trials of the indigenously developed Very Short-Range Air Defence System (VSHORADS), a Man Portable Air Defence System (MANPAD).
About Man Portable Air Defence System (MANPAD):
• What is MANPAD? A lightweight, shoulder-fired missile system designed to target low-altitude aerial threats like drones, helicopters, and aircraft. Provides mobility and flexibility to ground forces for air defence in combat zones.
• A lightweight, shoulder-fired missile system designed to target low-altitude aerial threats like drones, helicopters, and aircraft.
• Provides mobility and flexibility to ground forces for air defence in combat zones.
• Developed By: Designed and developed by DRDO’s Research Centre Imarat (RCI), Hyderabad.
• Designed and developed by DRDO’s Research Centre Imarat (RCI), Hyderabad.
• Aim: To provide the Indian armed forces with an indigenous, advanced air defence system capable of neutralizing modern aerial threats. To replace ageing systems like the Russian Igla MANPADS.
• To provide the Indian armed forces with an indigenous, advanced air defence system capable of neutralizing modern aerial threats.
• To replace ageing systems like the Russian Igla MANPADS.
• Features: Portability: Weighs 20.5 kg and can be shoulder-fired or mounted on a tripod. Range: Effective range of 250 meters to 6 kilometres. Speed: Maximum speed of Mach 1.5 (1,850 km/h). Warhead: Equipped with a 2 kg adaptive proximity fuze for precise target destruction. Target Engagement: Capable of intercepting low-flying drones and aircraft with reduced thermal signatures. Operational Flexibility: Can be deployed in various combat scenarios, including mountainous and urban terrains.
• Portability: Weighs 20.5 kg and can be shoulder-fired or mounted on a tripod.
• Range: Effective range of 250 meters to 6 kilometres.
• Speed: Maximum speed of Mach 1.5 (1,850 km/h).
• Warhead: Equipped with a 2 kg adaptive proximity fuze for precise target destruction.
• Target Engagement: Capable of intercepting low-flying drones and aircraft with reduced thermal signatures.
• Operational Flexibility: Can be deployed in various combat scenarios, including mountainous and urban terrains.
Insta links:
• Igla-s
#### UPSC CURRENT AFFAIRS – 3 February 2025 Mapping:
South Georgia Island
Source: SW
Context: The world’s largest iceberg, A-23-A, is drifting toward South Georgia Island, raising concerns about potential threats to local wildlife and ecosystems.
About South Georgia Island:
• Located In: South Atlantic Ocean, part of the British Overseas Territory of South Georgia and the South Sandwich Islands.
• Capital: King Edward Point.
• Ethnic Demography: No indigenous population due to its harsh climate and remoteness.
• No indigenous population due to its harsh climate and remoteness.
• Controlled by: United Kingdom (British Overseas Territory).
• Geographic Features: Mountains: Dominated by the Allardyce Range, with Mount Paget as the highest peak at 2,935 meters. Rivers: Numerous small rivers and streams flow from the glaciers and mountains. Coastline: Northern coast features bays and fjords, providing natural harbours. Glaciers: Extensive glacial coverage, contributing to its rugged and icy terrain.
• Mountains: Dominated by the Allardyce Range, with Mount Paget as the highest peak at 2,935 meters.
• Rivers: Numerous small rivers and streams flow from the glaciers and mountains.
• Coastline: Northern coast features bays and fjords, providing natural harbours.
• Glaciers: Extensive glacial coverage, contributing to its rugged and icy terrain.
Insta links:
• Iceberg-a-76
Daily Current Affairs + PIB Summary 3 Feb 2025
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