UPSC Current Affairs
India-UK FTA Takes Effect, Cabinet Approves Rs 1.27 Lakh Crore for Tech and Infrastructure Projects
10 stories · about 5 min read · quiz and Mains question at the end
India-UK Free Trade Agreement Comes into Force
The landmark India-UK Comprehensive Economic and Trade Agreement officially came into force on July 15. The highly anticipated trade deal eliminates or reduces tariffs on 98.8% of UK tariff lines, translating to duty-free or concessional access for 99.5% of India's export value. This agreement is expected to bolster key sectors like textiles, leather, gems, and jewelry, while opening up the Indian market to British services and premium manufacturing.
Cabinet Approves Rs 1.27 Lakh Crore for Semicon Mission 2.0 and Infrastructure
The Union Cabinet has approved an allocation of Rs 1.27 lakh crore under the Semicon India Mission 2.0 to accelerate domestic semiconductor fabrication, packaging, and mobile manufacturing ecosystem. Alongside this, the Cabinet cleared highway projects worth Rs 25,400 crore to ease traffic congestion around Varanasi and approved nine new gas-based urea plants. These urea plants, designed to produce 10 million tons of fertilizers, aim to achieve self-reliance in agriculture inputs.
RBI Issues Data Governance Guidance Framework for Commercial Banks
The Reserve Bank of India has issued a comprehensive Data Governance Guidance Framework to strengthen data quality, security, and accountability across commercial banks. The central bank aims to build a robust data governance ecosystem that enhances operational resilience and protects customer data in India's fast-evolving digital banking environment. Banks will be required to establish dedicated data offices and follow structured policies to prevent data breaches and financial frauds.
Inaugural Index of Services Production Shows Double-Digit Growth
India's newly introduced Index of Services Production (ISP) recorded double-digit growth in 14 of its 19 sub-sectors for the month of April. The ISP is a new monthly indicator designed to track real-time activity across India's massive services economy, covering sub-sectors that account for approximately 60% of the entire services sector. Economists have welcomed this index as a vital tool that bridges crucial data gaps in tracking India's economic output.
Government Direct Investment in EV Manufacturer Ather Energy
The Government of India has directly invested Rs 200 crore into electric vehicle manufacturer Ather Energy as part of a larger Rs 1,200 crore fundraising round. This strategic funding round was conducted in partnership with the Japan Bank for International Cooperation (JBIC), marking a significant shift toward direct state-backed equity participation in indigenous EV firms. The move is aimed at accelerating domestic technology development in the electric mobility space.
National Medical Commission Toughens Rules for Medical Colleges
The National Medical Commission (NMC) has drafted strict regulations to bar approval for new medical colleges that have incomplete infrastructure or inadequate teaching staff. The draft rules mark a regulatory shift aiming to prioritize quality over quantity, especially after India witnessed a massive 167% growth in medical seats over the last decade. Under the proposed rules, colleges will be heavily penalized or closed if they fail to maintain standards during annual assessments.
Assam Proposes Wild Elephant Domestication Study to End Conflicts
The 126-member Assam Legislative Assembly has discussed a proposal to study the revival of wild elephant domestication as a method to mitigate escalating human-elephant conflicts. State legislators argued that trained domestic elephants (kumkis) are vital in monitoring, driving, and managing wild herds that stray into human settlements. The proposal will assess ecological, ethical, and legal frameworks under the Wildlife Protection Act before implementing any state-wide plan.
British Lawmakers Pass Landmark Assisted Dying Legislation
British lawmakers in England and Wales have voted to approve the Terminally Ill Adults (End of Life) Bill, legalizing assisted suicide for terminally ill adults. Under the strict terms of the bill, eligible adults must have an incurable illness and a certified life expectancy of fewer than six months. The legislation has triggered global debates, with supporters championing bodily autonomy and dignity, while critics warn about potential coercion of the elderly and vulnerable.
Calls Intensify for the Restoration of Statehood to Jammu and Kashmir
National editorials and political movements have renewed the call for the Union Government to fulfill its promise of restoring full statehood to Jammu and Kashmir. Following the completion of democratic local processes and a stabilizing security environment, experts argue that keeping J&K as a Union Territory indefinitely undermines cooperative federalism. Restoring statehood is viewed as a necessary step to restore full democratic representation and normalize administrative relations with New Delhi.
India's L1 Procurement Policy Criticized as Barrier to Innovation
Renowned scientist Dr. R.A. Mashelkar has raised concerns about India's public procurement system, stating that the policy of favoring the lowest bidder (L1) acts as a major barrier to indigenous deep-tech and AI innovation. Dr. Mashelkar argued that cutting-edge technological development requires value-based procurement rather than cost-minimization. He urged the government to reform procurement frameworks to actively support and buy high-risk, high-reward local innovations.
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