Daily Current Affairs and GK | 13 March 2025

Topic: Indian Economy

1. India’s retail inflation declined to a seven-month low level.

• It stood at 3.6% in February 2025 after decline. This was caused by a decrease in food prices. 
• The consumer price index increased by 4.26% in January 2025. 
• Inflation has slowed for the fourth consecutive month. It is now below the RBI's target of 4%. 
• Inflation in February 2025 dropped by 65 basis points compared to January. 
• This is the lowest year-on-year inflation since July 2024. 
• The Consumer Food Price Index rose by only 3.75% in February 2025.
• This was the slowest growth in nearly two years. 
• Vegetable prices fell by 1%. Wheat prices rose by 8.8% in February 2025.
• Pulses and related products saw a 1.35% decline in February 2025.
• This marked the first negative inflation for this category in the current fiscal year. 
• Inflation in urban areas slowed to 3.3%. This declined from 3.9% in January 2025. 
• Rural areas saw inflation fall to 3.8%, down from 4.6% in January 2025. 
• Kerala had the highest inflation rate at 7.3%. Telangana had the lowest at 1.3%.  Inflation in nine of the 22 states exceeded 4%.

Topic: Government Schemes and Initiatives

2. Third edition of the Prime Minister’s Scheme for Mentoring Young Authors (PM-YUVA 3.0) has been introduced by the Ministry of Education. 

• Under the scheme, young writers under 30 will be offered mentorship. 
• It aims to foster a culture of reading, writing, and books across India. 
• The scheme builds on past editions, which included participation from young authors in 22 Indian languages and English. 
• The program focuses on three themes: the Indian diaspora’s role in nation-building, the Indian Knowledge System, and makers of modern India from 1950 to 2025. 
• The National Book Trust, India, will manage the execution of PM-YUVA 3.0. 
• Selected works will be published and translated into various Indian languages. 
• The program will include interactions with experienced writers. 
• PM-YUVA 3.0 will start with a nationwide contest on MyGov from March 11 to April 10. 
• Fifty young authors will be selected: 10 for the Indian diaspora theme, 20 for the Indian Knowledge System, and 20 for modern India’s makers. 

Topic: Indian Economy

3. India’s unincorporated sector registered a 12.84% growth.

• The unincorporated non-agricultural sector of India witnessed a remarkable growth of 12.84%.
• As per the latest Annual Survey of Unincorporated Sector Enterprises (ASUSE) 2023-24), the number of enterprises increased by 12.84%.
• This survey has been conducted by the National Statistics Office (NSO) under the Ministry of Statistics & Programme Implementation (MoSPI).
• The number of establishments in the sector has increased to 7.34 crore in 2023-24 up from 6.50 crore in the previous year.
• Employment in these enterprises also saw a significant boost between October 2023 and September 2024, crossing 12 crore workers.
• This surge in employment reflects the resilience of small businesses and informal enterprises.
• The unincorporated sector comprised manufacturing, trade, and services (excluding construction).
• The report highlights the importance of these enterprises in providing livelihood opportunities, particularly in states like West Bengal, Maharashtra, Uttar Pradesh, Gujarat, and Tamil Nadu.
• Government initiatives like Mudra Yojana and Startup India have played a pivotal role in encouraging entrepreneurship and expanding the informal sector.

Topic: International News

4. European Union will impose counter tariffs on 26 billion euros worth of U.S. goods.

• The European Union has decided to impose counter tariffs on 26 billion euros ($28.33 billion) worth of U.S. goods from April 2025.
• European Union has taken this decision in response to U.S. tariffs on steel and aluminium.
• The increased tariffs on all US steel and aluminium imports has  took effect from 12th March 2025.
• The European Union will end the current suspension of tariffs on U.S. products on April 1.
• It will implement a new package of countermeasures on U.S. goods by mid-April.

Topic: Defence

5. Tejas fighter jet successfully test-fired air-to-air Astra missile.

• The Aeronautical Development Agency (ADA) successfully conducted the Astra, a Beyond Visual Range Air-to-Air Missile (BVRAAM), from the Light Combat Aircraft (LCA) AF MK1 prototype.
• The test has been carried out off the coast of Chandipur, Odisha.
• The Astra missile directly hit the flying target, showcasing its accuracy and effectiveness.
• The Astra missile is designed to engage targets more than 100 kilometres.
• Its advanced guidance and navigation systems enable it to destroy targets with exceptional precision.
• The missile has already been inducted into the Indian Air Force (IAF).
• This achievement is tireless efforts by the combined teams of scientists, engineers, and technicians from ADA, DRDO, and Hindustan Aeronautics Limited (HAL).

Topic: Indian Economy

6. India’s industrial production rose to 5 per cent in January.

• India’s industrial production has increased from 3.2 per cent in December to 5 per cent in January.
• As per the latest data, manufacturing grew 5.5 percent in January, mining activity increased by 4.4 percent, and electricity generation grew by 2.4 percent.
• The government has also revised the December 2024 industrial output figure to 3.5 per cent from the provisional estimate of 3.2 per cent.
• Mining production growth declined to 4.4 per cent from 6 per cent year-on-year.
• Power output growth declined to 2.4 per cent in January 2025 from 5.6 per cent a year ago.
• The capital goods segment growth increased to 7.8 per cent in January 2024 against 3.2 per cent in the year-ago period.
• Infrastructure/construction goods reported a growth of 7 per cent in January 2025, up from a 5.5 per cent expansion in the year-ago period.

Topic: Indian Polity

7. The Oilfields Amendment Bill 2024 passed by Parliament, with approval from the Lok Sabha.

• The Oilfields (Regulation and Development) Amendment Bill, 2024, has been passed by Parliament, with its approval by the Lok Sabha on 12 March.
• In 2024, the Bill was passed by the Rajya Sabha in December.
• The Bill seeks to amend the existing law governing exploration and production of oil and gas as well as to differentiate petroleum operations from mining operations.
• The purpose of the bill is to amend the Oil Fields (Regulation and Development) Act, 1948.
• It expands the definition of mineral oils to include naturally occurring hydrocarbons, coal bed methane, and shale gas.
• The law clarifies that coal, lignite, or helium will not be included in mineral oils.
• India's long-term strategy for energy security revolves around the trinity of affordability, availability, and sustainability, and the country has achieved all three very successfully.
• India currently imports from 40 countries.

Topic: State News/ Maharashtra

8. On March 10, Ajit Pawar presented Maharashtra's budget for 2025-26, his 11th as finance minister.

• Maharashtra's economy is projected to grow at 7.3% in the financial year 2024–25, higher than the national growth forecast of 6.5%.
• The budget proposes Mumbai's third airport near the Vadhvan port, which is expected to be operational by 2030.
• Metro expansion planned with 41.2 km in Mumbai, 23.2 km in Pune, and 237.5 km of metro routes in 5 years.
• 1,500 km of new roads and 7,000 km of cement roads to be developed in Maharashtra.
• Industrial Policy 2025 will be announced soon to attract investment of Rs 20 lakh crore and create 50 lakh jobs.
• New Logistics Policy formulated to develop 10,000 acres of infrastructure and create 5 lakh jobs.
• A pilot project on 1 lakh acres of land with the engagement of 50,000 farmers will be launched to promote artificial intelligence (AI) in agriculture by the Maharashtra government.
• In the budget, Rs 19,300 crore was allocated for Tapi river valley irrigation.
• ₹8,000 crore allocated for urban wastewater recycling projects.
• Mining corridor network to be developed in Gadchiroli for regional growth.
• A portal named ‘Maitri’ for industrial licenses will soon be launched by Maharashtra.
• A provision of ₹36,000 crore has been made for the Ladki Bahin scheme by the Maharashtra government.
• Maharashtra will celebrate Marathi Bhasha Sanman Din every year on October 3.

Topic: India and Its Neighborhood

9. Atal Bihari Vajpayee Institute inaugurated by PM Modi and the Prime Minister of Mauritius.

• On 12 March, the Atal Bihari Vajpayee Institute of Public Service and Innovation was jointly inaugurated by PM Narendra Modi and Mauritius Prime Minister Navinchandra Ramgoolam in Reduit, Mauritius.
• This landmark project, implemented under the India-Mauritius Development Partnership, underlines India's commitment to capacity building in Mauritius.
• The state-of-the-art institute will cater to the training needs of Mauritian civil servants across ministries, public offices, parastatal bodies, and government enterprises.
• It is funded through a grant of US$ 4.74 million under a 2017 MoU.
• The institute will also serve as a centre for learning, research, and public service, fostering new ideas and leadership for the future.

Topic: State News/Tripura

10. Two new schemes for Tripura's girl child declared by Union Health Minister Jagat Prakash Nadda.

• These two new schemes of the Tripura government are for the girl children of the state, named Mukhyamantri Balika Samridhi Yojana and Mukhyamantri Kanya Atmanirbhar Yojana.
• Nadda made the announcement while addressing a huge gathering at Swami Vivekananda Maidan to celebrate the completion of two years of the BJP-led Tripura Government 2.0.
• Under the Mukhyamantri Balika Samriddhi Yojana, it involves a deposit of a bond of ₹50,000 by the government in the name of every girl born in a Below Poverty Line (BPL) family in Tripura.
• On reaching the age of 18, the girl will get the bond, which will have a maturity value of ₹8-10 lakh.
• Under the Mukhyamantri Kanya Atmanirbhar Yojana, initially a target was set to provide scooties to the top 100 girl students in the Higher Secondary examination.
• However, under the revised provisions of the scheme, scooties will now be awarded to 140 meritorious girl students from all boards.

Topic: Government Schemes and Initiatives

11. Nationwide campaigns to boost financial literacy launched by the RBI and the National Centre for Financial Education (NCFE).

• With the aim of promoting financial literacy, various financial literacy programmes have been launched which are as follows:
  • Financial Literacy Centres (FLCs): Leading banks to set up FLCs to conduct special camps for various target groups.
  • “RBI Kehta Hai” Campaign: A multi-media, multilingual initiative promoting financial literacy and safe banking practices.
  • Mass Media Campaign: Organizing to spread financial awareness among all age groups.
  • Financial Awareness Messages (FAME): A booklet developed by RBI with standardized content for various target groups, including senior citizens, to meet the requirements of the general audience for financial awareness on important banking aspects.
  • National Centre for Financial Education (NCFE) & Centre for Financial Literacy (CFL) Initiative: Organizing Financial Education (FE) programs for persons below 18 years and above 60 years of age.
• In addition, NCFE is developing and implementing the National Strategy for Financial Education (NSFE) in consultation with financial sector regulators.
• The aim of this move is to empower various sections of the population through various financial awareness programs and initiatives by equipping them with the knowledge, skills, attitudes, and behaviors required to manage their finances effectively and plan for a secure future.

Topic: State News/ Madhya Pradesh

12. MP Finance Minister Jagdish Deora presented a Rs 4.21 trillion budget for FY 2025-26.

• This year’s budget is 15% more than the previous year's allocation of Rs 3.65 trillion. No new taxes have been introduced in this budget.
• The budget estimates a fiscal deficit of Rs 78,902 crore. It is equal to the 4.66 percent of state's gross state domestic product (GSDP).
• Incentives worth around Rs 30,000 crore would be provided to the industrial sector over the next five years.
• The budget has allocated nearly Rs 2 lakh crore for social sector schemes.
• Rs 26,797 crore has been proposed for the Women and Child Development Department for the year 2025-26 and Rs 23,535 crore is proposed for the health sector.
• Rs 1,610 crore is proposed for tourism, culture and Religious Trusts & Endowment.
• A provision of Rs 2,005 crores is proposed for Simhastha-2028.
• Madhya Pradesh has the highest gross domestic product (GDP) growth rate in the country. The GSDP of Madhya Pradesh has grown at 11 per cent in 2024-25.
• Madhya Pradesh government's aim is to raise the state's GDP to Rs 250 trillion by 2047.

Topic: India and its Neighbourhood

13. India and Mauritius have decided to elevate their partnership to the level of an Enhanced Strategic Partnership.

• India and Mauritius will work on the development and launch of the India-Mauritius satellite.
• Indian Space Research Organisation (ISRO) will provide training to Mauritian scientists and experts.
• Both sides also agreed to implement advanced weather and climate forecasting systems, including Wave Rider Buoys and a Multi-hazard Emergency System.
• A development partnership project has been also proposed by India.
• It would use Earth Observation Applications and an interactive computing framework to help Mauritius in monitoring extreme weather events and to study climate impacts more effectively.
• Prime Minister Narendra Modi was on a state visit to Mauritius from March 11 to 12, 2025.