Comprehensive Summary of YouTube Video: Current Affairs - Honey Gs Academy (Transcription Based)
Channel: Honey Gs Academy
Key Topics:
This video provides a daily current affairs update, emphasizing the Union Budget, Science and Technology, and Polity. Key highlights include World Wetlands Day, Dignified Death, Modernization of the National Statistical System, and a detailed overview of the Budget 2025-26.
Important Days: World Wetlands Day (February 2nd)
Celebration Date: February 2nd, commemorating the 1971 Ramsar Convention in Ramsar, Iran.
Theme 2025: "Protecting Wetlands for Our Common Future."
National Event: Celebrated at Parvati Arga Ramsar site in Uttar Pradesh this year.
Ramsar Sites in India: Increased to 89 with 4 new additions. Tamil Nadu has the highest number (20). Total area covered is 1358 million hectares across 20 states.
India's Rank: India holds the 3rd rank in terms of the number of Ramsar sites globally.
Polity: Dignified Death (Passive Euthanasia)
Second State to Approve: Karnataka becomes the second state to approve a policy on dignified death, following Kerala.
Constitutional Basis: Supreme Court in Common Cause vs Union of India (2018) case recognized the right to die with dignity under Article 21, approving passive euthanasia.
Passive Euthanasia: Withholding medical treatment to allow natural death, as opposed to active euthanasia which involves actively ending life (illegal in India).
Economy: Modernization of National Statistical System
Collaboration: Ministry of Statistics and Programme Implementation partners with IIT Delhi to modernize the Indian Statistical System.
Economy: Union Budget 2025-2026 Highlights
Special Course: A special course on Budget 2025-26 is being launched for ₹49, covering basics, taxes, deficits, schemes, and exams (Economic course students exempt).
8th Consecutive Budget: Finance Minister Nirmala Sitharaman presented her 8th consecutive budget.
Six Key Principles: Budget focused on six key principles, remembered as "HEN-PF":
- Health (High-quality healthcare)
- Education (Quality education for all)
- Employment (Skilled workforce with meaningful employment)
- N (Zero Poverty)
- P (Increased women's participation in the economy, aiming to raise it from 40% to 70%)
- Force (Building strength through protein - analogy for robust economic measures)
Four Priorities (GYAN): The budget prioritizes four groups:
- Gareeb (Poor)
- Youth
- Annadata (Farmers)
- Nari Shakti (Women Power)
Income Tax Slab Changes
| Slab (₹ Lakhs) | Tax Rate |
|---|---|
| 0-4 | 0% |
| 4-8 | 5% |
| 8-12 | 10% |
| 12-16 | 15% |
| 16-20 | 20% |
| 20-24 | 25% |
| 24+ | 30% |
Basic Customs Duty Changes
- Zero Tax on 25 Critical Minerals: Import of 25 critical minerals (like Lithium, Cobalt) now has zero basic customs duty.
- Zero Tax on Handicraft Exports: Exemption from basic customs duty for handicraft exports.
MSME Classification Changes
Revised MSME Classification: Changes proposed but not yet implemented; will be effective post cabinet approval and ministry notification, likely from April 1st. Based on Investment and Turnover.
| Category | Current (2020) | Proposed (2025) | ||
|---|---|---|---|---|
| Investment (₹ Crore) | Turnover (₹ Crore) | Investment (₹ Crore) | Turnover (₹ Crore) | |
| Micro | 1 | 5 | 2.5 | 10 |
| Small | 5 | 50 | 25 | 100 |
| Medium | 10 | 250 | 125 | 500 |
Fiscal Deficit and Revenue Deficit Targets
- Fiscal Deficit Target: Revised to 4.8% of GDP for FY25, and 4.4% for FY26, aiming towards 3% as per FRBM Act.
- Revenue Deficit: Targeted at 1.9% in current year and 1.5% in the next fiscal year.
Capital Expenditure
- Capital Expenditure: ₹11.21 lakh crore, which is 3.1% of GDP (same for FY25 and FY26). Revised down from 3.4% in the last budget.
- Capital to Revenue Expenditure Ratio: 2.84 - highest in 20 years, indicating high-quality fiscal spending.
Government Debt Target
- Government Debt Target: Revised to 57.1% of GDP for the current fiscal year and projected 56.1% for the next fiscal year.
- Long-term Target: Aim to bring it to 50% (+/- 1%) by FY31, still above the FRBM Act and NK Singh Committee recommendations (60% for general government, 40% for Union).
FDI Limit in Insurance
- Increased FDI Limit: FDI limit in insurance sector increased from 74% to 100% under automatic route.
New Schemes
- Bharatiya Bhasha Pustaka Scheme: To make books available in all Indian languages for students and faculty in educational institutions. Implemented by Ministry of Education, UGC, and Bharatiya Bhasha Samiti.
- Pradhan Mantri Dhan Dhanya Krishi Yojana: Focus on 100 agriculturally challenged districts to improve agriculture in drought-prone areas, benefiting 17 crore farmers. Details on specific districts awaited.
- National Geo-Spatial Mission: To modernize land records and improve urban planning using geospatial technology.
- National Manufacturing Mission: Focus on boosting manufacturing (Make in India) across Micro, Small, Medium, and Large industries, emphasizing:
- Ease and cost of doing business
- In-demand jobs creation
- Vibrant and dynamic MSME sector
- Technology adoption
- Quality product manufacturing
- Mission for Pulses (Atma Nirbharta): 6-year mission for self-sufficiency in pulse production. NAFED to procure Toor, Urad, and Masoor for 4 years, ensuring MSP.
- 5-Year Mission for Cotton Production: To boost cotton production.
- Kisan Credit Card Limit Increased: Kisan Credit Card limit increased from ₹3 lakhs to ₹5 lakhs.
- Jal Jeevan Mission Extension: Extended until 2028.
- Makhana Board: To be established in Bihar to promote Makhana (Lotus seeds).
- Urea Plant in Namrup, Assam: New Urea plant in Namrup, Assam, expected to produce 12.7 lakh metric tons of Urea.
Art & Culture: Devi Ahilya Bai Holkar 300th Jayanti
300th Birth Anniversary: Celebrating 300th birth anniversary (1725-2025) of Devi Ahilya Bai Holkar, Holkar queen of Indore.
Historical Significance: Known for restoring the Kashi temple. Called "The Philosopher Queen" by British writer John Kaye.
Government Policy: Swarel App - Indian Railways Super App
Swarel App: Indian Railways launched "Swarel" - a super app providing a one-stop solution for all railway services. Developed by Centre for Railway Information System (CRIS).
Appointments: Rajesh Nirwan - Head of Bureau of Civil Aviation Security
New Head: Rajesh Nirwan appointed as the head of Bureau of Civil Aviation Security (BCAS), the apex body for aviation security in India.
Places in News: Kurdistan, Iraq
Kurdistan: India provided food aid to Kurdistan region in Iraq. Kurdistan region spans across Iraq, Turkey, Syria, and Armenia.
Sports: ICC Under-19 Cricket World Cup
India Wins: India won the ICC U-19 Cricket World Cup for the second consecutive time, defeating South Africa, hosted by Malaysia.
Player of the Series: Gongoli Trisha (from Telangana, India) won the "Player of the Series" award.
Andhra Pradesh Specific Current Affairs
- First Drone City of India: To be established in Orvukal village, Kurnool district, by Garuda Aerospace (Chennai based).
- Vidya Shakti Scheme: Andhra Pradesh government to provide online coaching for JEE Advanced to government college students, starting in Guntur and Anantapur districts in the first phase, initiated by Nara Lokesh.
- Chali Utsavalu (Winter Festival): Tourism festival held in Araku Valley, Alluri district, Andhra Pradesh.
This is a comprehensive, transcription-based summary of the current affairs discussed in the YouTube video by Honey Gs Academy. For detailed information, please refer to the original video.
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