Current Affairs

The Cabinet Committee on Economic Affairs (CCEA) has approved the 'BHAVYA – Rasayan' (Bharat Audyogik Vikas Yojana Rasayan) scheme to establish three dedicated Chemical Parks across India. Announced in the Union Budget 2026-27, the scheme aims to boost the domestic chemical manufacturing ecosystem with a total financial outlay of ₹3,030 crore.

India is currently the 6th largest producer of chemicals globally and the 3rd largest in Asia. However, the chemical industry requires highly specialized and capital-intensive infrastructure—such as robust effluent treatment plants, hazardous waste management, and safe storage—to operate sustainably. The new scheme addresses this by funding 'plug-and-play' Common Infrastructure Facilities. Running for five years (2026-27 to 2030-31), it operates on a cooperative federalism model, where the Centre will grant up to ₹1,000 crore per park, provided the respective State Government contributes a minimum of ₹500 crore. This joint effort is expected to reduce logistics costs, achieve economies of scale, and attract global investments.

GS3: Economy (Industrial Policy, Investment Models, Infrastructure)

Income Tax Day (Aaykar Diwas) was observed across the country to commemorate the historical establishment of income tax in India. The day highlighted the remarkable evolution of the Income Tax Department from a paper-heavy bureaucracy into a modern, transparent, and technology-driven system utilizing Artificial Intelligence and e-filing for taxpayer convenience.

The concept of Income Tax was first introduced in India on July 24, 1860, by Sir James Wilson to compensate the British government for the massive financial losses suffered during the First War of Independence (Rebellion of 1857). To mark this historical event, July 24 is officially celebrated as Income Tax Day or 'Aaykar Diwas'. Over the decades, India's tax ecosystem has undergone massive technological transformations. Computerization began in 1981, followed by the introduction of the Permanent Account Number (PAN) in 1995 to track financial transactions accurately. The advent of online e-filing drastically reduced compliance burdens. Today, the Central Board of Direct Taxes (CBDT) actively uses advanced technologies like Artificial Intelligence (AI) and Machine Learning (ML) for data analytics, detecting tax evasion, and processing returns quickly to promote voluntary compliance.

GS3: Economy (Government Budgeting, Mobilization of Resources)

India has achieved a major milestone in defence manufacturing by developing its first indigenous Expendable Turbo Jet Engine in the 350 kg thrust class. Designed by the DRDO's Gas Turbine Research Establishment (GTRE) and manufactured by Azad Engineering, this engine is meant to power single-use defence systems like cruise missiles and drones.

Jet engine technology is one of the world's most complex engineering fields, mastered by only a few nations. An *expendable* engine is specifically designed for single-use weapon systems (like long-range cruise missiles, target drones, or loitering munitions) that are destroyed upon hitting their target. Therefore, these engines need to be highly reliable but cost-effective to manufacture in large numbers. Previously, India heavily relied on imported engines (such as the Russian NPO Saturn 36MT) for its subsonic cruise missiles like the *Nirbhay*. The successful indigenous development of this 350 kg thrust engine by the Bengaluru-based GTRE drastically boosts India's strategic self-reliance (Atmanirbhar Bharat) in advanced missile and drone technology.

GS3: Science and Technology (Indigenization of Technology), GS3: Security (Defence manufacturing)

In a proud moment for India, President Droupadi Murmu was awarded an Honorary Doctorate by the Bucharest University of Economic Studies in Romania. During her visit, she highlighted the power of education in transforming societies and called for stronger ties between Indian and Romanian universities through joint research and student exchange programs.

India and Romania share long-standing diplomatic relations built on shared democratic values and mutual trust. Over the decades, Romania has been a popular destination for Indian students pursuing higher education, particularly in medicine and engineering. The Bucharest University of Economic Studies, founded in 1913, is Romania's premier institution for economic sciences. The award 'Doctor Honoris Causa' is its highest academic honour, given for exceptional contributions to education, public service, and international cooperation. At a time when Artificial Intelligence and digital technologies are rapidly changing the world, the President emphasized the need to blend knowledge with ethics and compassion.

GS2: International Relations

The Ministry of Textiles has launched the 'Weaves of India' festival in New Delhi from July 24 to August 7, 2026. The event aims to showcase India’s exceptional handloom traditions, offering visitors a unique chance to experience 116 traditional weaving styles from across the country under one roof.

The handloom sector is a symbol of India's glorious cultural heritage and an important source of livelihood in the country. The 'Weaves of India' festival is organised as part of the celebrations leading up to the 12th National Handloom Day (August 7). Historically, August 7 was chosen to commemorate the Swadeshi Movement, which was launched on this day in 1905 at the Calcutta Town Hall to protest against the partition of Bengal. The Swadeshi movement encouraged Indians to boycott British goods and revive domestic products. Building on this legacy, the current exhibition promotes sustainable, artisan-led economies and connects weavers directly with buyers, displaying authentic handmade textiles like Banarasi, Jamdani, and Sambalpuri Ikat.

GS1: Art and Culture

Indian scientists have developed a groundbreaking 'Nanofluid Electrolyte' that significantly enhances the efficiency of electrically rechargeable Zinc-Air batteries. This low-cost, eco-friendly technology overcomes major battery issues like zinc corrosion and hydrogen gas build-up, paving the way for safer electric vehicles and grid-scale energy storage.

As the world shifts towards clean energy, finding safe and affordable alternatives to expensive Lithium-ion batteries is crucial. Zinc-Air batteries are emerging as a powerful substitute because they use water-based chemistry, are highly cost-effective, and offer high energy density by drawing oxygen directly from the air. However, traditional Zinc-Air batteries faced challenges like zinc corrosion (anode degradation) and slow oxygen reactions (cathode inefficiency), which previously required expensive catalysts like Platinum. The new technology overcomes these hurdles sustainably by using simple, widely available materials, thereby boosting the viability of next-generation green batteries.

GS3: Science and Technology

The government recently shared the key findings of the National Family Health Survey-6 (NFHS-6, 2023-24) in the Lok Sabha. The survey reveals significant improvements in maternal and child health, such as increased institutional deliveries and vaccination rates, but highlights a worrying rise in obesity and high blood sugar levels among adults.

The National Family Health Survey (NFHS) is a large-scale, multi-round survey conducted in a representative sample of households throughout India. The Ministry of Health and Family Welfare (MoHFW) has designated the International Institute for Population Sciences (IIPS) in Mumbai as the nodal agency for providing coordination and technical guidance. The data from NFHS is crucial for shaping India's health and family welfare policies, tracking sustainable development goals (SDGs), and assessing the effectiveness of ongoing government health schemes like Mission Indradhanush and POSHAN Abhiyaan.

GS2: Social Issues