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MPC Retains Repo Rate, Lowers Growth Forecast

Economy

Surha Tal: India’s 100th Ramsar Site

Environment

Context

• Jai Prakash Narayan Bird Sanctuary (Surha Tal) in Ballia, Uttar Pradesh, has been designated as India’s 100th Ramsar Site.

About

• Established in 1991,
• The sanctuary is centred around Surha Tal, a natural perennial oxbow lake formed by the shifting course of the Ganga River.
• It is located in the Indo-Gangetic Plain, near the confluence of the Ganga and Ghaghara rivers.
• It hosts several migratory birds from Siberia and Central Asia, including the Greylag Goose, Pintail, Common Teal, and Bar-headed Goose.
• Local species include Sarus crane, Heron, and Cormorant.

Connect with the basics – Ramsar Convention

• A Ramsar site is a wetland designated as one of international importance under the Ramsar Convention.
• Ramsar Convention – It is one of the inter-governmental accords to preserve the wetlands of international importance.
• It was signed on February 2, 1971 in Ramsar, Iran and came into force in 1975.
• India became a signatory to the Ramsar Convention in 1982.

Ramsar Facts

• Total: 100 sites (As of June 2026).
• India has the most sites in Asia.
• 100th Site: Jai Prakash Narayan Bird Sanctuary (Surha Tal) in Uttar Pradesh (Added June 2026).
• Top State: Tamil Nadu (20 sites), followed by Uttar Pradesh (13 sites).
• First Sites: Chilika Lake (Odisha) and Keoladeo National Park (Rajasthan) in 1981.
• Sizes: Sundarban (West Bengal) is the largest. Renuka (Himachal Pradesh) is the smallest.

Montreux Record (Threatened Sites)

• What it is: A register of Ramsar sites facing ecological danger from pollution or human interference.Active Indian Sites:
• Only two sites—Keoladeo National Park (Rajasthan) and Loktak Lake (Manipur).
• Removed- Chilika Lake was removed after successful recovery.

Isobutanol

Science & Technology

Context

• As India expands its biofuel strategy beyond ethanol, the government is evaluating the use of diesel blended with up to 15% isobutanol to reduce dependence on crude oil imports.

Isobutanol

• Chemical Profile: It is a clear, colorless liquid with a mild alcoholic odor. It is one of the four isomers of butanol.
• Traditional Use: It has long served as an industrial solvent in paints, lacquer, coatings, pharmaceuticals, and pesticides.
• Production: It can be created from petrochemicals or by fermenting biomass like sugarcane syrup, molasses, and grains using engineered microbes.

Why Isobutanol Over Ethanol for Diesel Blending

• India successfully implemented a 20% ethanol blending mandate for petrol, but ethanol failed to mix properly with diesel.

Significance for India

• Import Substitution: Blending up to 10% isobutanol into diesel can slash India’s high crude oil import bills.
• Climate & Emission Targets: It burns cleaner, reducing harmful particulate emissions. This helps achieve India’s Net-Zero emission goal by 2070 and aligns with the National Policy on Biofuels.

Jan Samarth Portal

Government Schemes

Context

• The Jan Samarth Portal has completed four years of promoting digital financial inclusion and seamless credit delivery.

Jan Samarth Portal

• Launched in – 2022
• Objective – It is a single-window digital platform for availing benefits under 16 credit-linked government schemes.
• Significance – It facilitates access to institutional credit across sectors such as agriculture, business, housing, renewable energy, and livelihoods.
• Available in 8 languages, the portal has onboarded 269 lending institutions, including banks, NBFCs, and cooperative banks.

Additional information – Digital financial inclusion schemes

Core Pillars: The JAM Trinity

1. Jan Dhan: Zero-balance bank accounts for the unbanked.
2. Aadhaar: Biometric digital ID for instant e-KYC verification.
3. Mobile: Core tool to access mobile banking apps.

Key Schemes

• PM Jan Dhan Yojana (PMJDY): World’s largest financial inclusion drive. Over 56 crore accounts. Offers free RuPay cards, ₹2 lakh accident cover, and ₹10,000 overdraft.
• UPI: Real-time mobile payment network. Handles over 80% of India’s retail digital payments.
• Direct Benefit Transfer (DBT): Sends government subsidies straight into Aadhaar-linked accounts. This stops corruption and cuts state waste.
• Aadhaar Enabled Payment System (AePS): Rural biometric banking via local agents (Bank Mitras). No smartphone required.
• Jan Suraksha Schemes: Cheap, auto-debit security. Includes PMSBY (₹20/year accident cover), PMJJBY (₹436/year life cover), and Atal Pension Yojana (unorganised sector pension).
• Unified Lending Interface (ULI): Nationwide platform that speeds up digital loans by instantly linking land and financial data.

Economic Advisory Council to the Prime Minister (EAC-PM)

Polity

PM E-DRIVE

Environment

Context

• The Delhi Government has announced the induction of 2,800 new low-floor electric buses under the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE)
• Objective – to strengthen public transport and accelerate the transition towards sustainable urban mobility.

PM E-DRIVE

• The scheme was launched by the Government of India in 2024 to accelerate the transition towards electric mobility.
• The scheme has a total financial outlay of ₹10,900 crore.
• Duration: Initially approved for two years (2024–26), its duration has now been extended to 31 March 2028, while retaining the same outlay.

Objectives:

• To accelerate the adoption of electric vehicles (EVs) across the country.
• To develop a robust EV charging infrastructure.
• To strengthen the domestic EV manufacturing ecosystem.
• To reduce dependence on fossil fuels and lower vehicular emissions.
• To promote the Make in India initiative through the Phased Manufacturing Programme (PMP).
• The scheme supports the procurement of 14,028 electric buses across nine major cities with populations exceeding 40 lakh.

Major Abhilasha Barak Conferred UN Award

International

Context

• Prime Minister congratulated Major Abhilasha Barak on being conferred the UN Military Gender Advocate of the Year Award.

About

• Major Barak is currently serving with the United Nations mission in Lebanon, has been honoured with the award for her outreach efforts with women and girls during her deployment in the West Asian nation.
• She is also the first woman combat helicopter pilot of the Indian Army.
• Nomination – Each year, the awardee is selected from among candidates nominated by force commanders and heads of mission from all peace operations.
• India is among the largest troop and police contributing countries to UN peacekeeping missions.

United Nations peacekeepers

• The United Nations (UN) Peacekeepers, commonly known as the ‘Blue Helmets’
• They are military, police, and civilian personnel deployed by the United Nation
• Objective – to help countries transition from conflict to peace.
• Duties – It includes protecting civilians, preventing conflict, strengthening security, and supporting peace processes.
• Peacekeeping operations are authorized by the UN Security Council and supported by member states, with personnel drawn from many countries around the world.

Food Planet Prize 2026

Miscellaneous

Context

• The Andhra Pradesh Community Managed Natural Farming (APCNF) programme has won the Food Planet Prize 2026.

About the Prize

• The Food Planet Prize was established in 2019 by the Curt Bergfors Foundation, Sweden.
• It is regarded as the world’s largest environmental award dedicated to transforming global food systems.
• The award carries a prize of US$ 1.5 million (about ₹14 crore).
• Note – APCNF’s selection marks the first time an Indian initiative has won the award.

Andhra Pradesh Community Managed Natural Farming (APCNF)

• Launched in 2016
• Launched by – Rythu Sadhikara Samstha (RySS)
• Mandate – the programme promotes natural farming by reducing dependence on chemical fertilisers and pesticides.
• Uniqueness – it covers over 8,000 villages and nearly 18 lakh farmer families, making it one of the world’s largest community-led agroecology initiatives.
• The Andhra Pradesh model is now being studied and replicated in several Indian states, as well as countries like Sri Lanka and Zambia.

Additional Information – Natural Farming

• It is a chemical free farming, involving livestock (preferably local breed of cow) integrated natural farming methods and diversified crop systems rooted in the Indian traditional knowledge.
• It is largely based on on-farm biomass recycling with major stress on biomass mulching, use of on-farm cow dung-urine formulations; maintaining soil aeration and exclusion of all synthetic chemical inputs.

National Mission on Natural Farming (NMNF)

• Launched in – November 2024
• It is a centrally sponsored Scheme
• Objective – to promote chemical-free, ecosystem-based natural farming rooted in traditional knowledge.

India–Venezuela

International

Context

• Acting President of Venezuela, Delcy Rodríguez, visited India and held talks with PM Modi.

Key Outcomes of the Visit

• Towards a Long-Term Energy Partnership: Both sides discussed moving from spot purchases to long-term crude oil supply contracts. 
• Cooperation in Critical Minerals: Discussions covered critical minerals, gold, and diamond mining. 
• Cooperation in Other Sectors: Agriculture and farm mechanization, Animal husbandry, Transportation and logistics, Automotive manufacturing, Science and technology.

Significance of Venezuela for India

• Energy Security: Venezuela possesses the world’s largest proven crude oil reserves.
• India is the world’s third-largest consumer of crude oil and imports more than 85% of its oil requirements.
• Indian refineries are well-equipped to process Venezuela’s heavy crude oil.
• Stronger ties can deepen India’s engagement with the Latin American region and reduce overdependence on traditional energy suppliers.
• Securing Critical Minerals for Future Industries: Venezuela possesses significant reserves of critical minerals, including rare earth elements, nickel, and other strategic resources.
• India’s Latin America Outreach: Venezuela serves as an important gateway for expanding India’s economic and diplomatic engagement in Latin America.

Venezuela

• • Location: Venezuela is located on the northern coast of South America.
  • It is bordered by Colombia to the west, Brazil to the south, Guyana to the east, and the Caribbean Sea lies to the north.

• Capital: Caracas.

Major Physiographic Regions:

• Northwestern Venezuela is traversed by the northeastern extension of the Andes.
• The Lake Maracaibo Basin is a major geological and geographical region in northwestern Venezuela.
• Llanos the vast, tropical savanna plains occupying over 250,000 square kilometers of central Venezuela.

Prime Minister Research Chair (PMRC) Scheme, 2026

Government Schemes

Context

• The Department of Higher Education has invited applications for the Prime Minister Research Chair (PMRC) Scheme 2026. 

About

• Launched in  – 2026

• • Implementation- It is a flagship national initiative by the Department of Higher Education, Ministry of Education. 

• Objective- : To bring Indian-origin researchers working abroad to leading Indian institutions for high-impact research in priority sectors.

Key DetailsGoal: 

• Aim – Bring top global Indian talent back to India.
• Target – Select 120 researchers over 5 years.
• Funding – Up to ₹5 crore in grants (and up to ₹14 crore total package).

Who Can Apply?

• Indian nationals, OCIs, and PIOs working abroad fit into three tracks:

1. Young Research Fellows: Up to 5 years after PhD.
2. Senior Fellows: 5 to 10 years after PhD.
3. Research Chairs: 10 or more years after PhD.

Focus Areas & Locations

• Sectors: 13 fields like AI, Semiconductors, Space, Health, and Green Energy.
• Host Places: Top institutes like IISc, major IITs, and national labs.

Neelkanth Mishra Appointed as World Bank Executive Director

International

Context

• The Appointments Committee of the Cabinet has approved the appointment of Neelkanth Mishra as Executive Director, World Bank Headquarters, Washington, DC, for a tenure of three years. 
• He succeeds Parameswaran Iyer, who has held the position since February 2023.
• The Executive Director is part of the World Bank’s board, which oversees policies, lending decisions and development priorities. 

World Bank

• It was founded in 1944.
• The World Bank is like a cooperative, made up of 189 member countries. 
• It provides financial and technical assistance to developing countries to reduce poverty and promote economic development.

Main Institutions of the World Bank Group:

• IBRD (International Bank for Reconstruction and Development): It lends to middle-income and creditworthy low-income countries.
• IDA (International Development Association): It provides low-interest loans and grants to the poorest countries.
• IFC (International Finance Corporation): It supports private-sector development.
• MIGA (Multilateral Investment Guarantee Agency): It encourages foreign investment by providing guarantees.
• ICSID (International Centre for Settlement of Investment Disputes): It resolves investment disputes.

Flagship Reports by World Bank – 

• World Development Report (WDR): The premier annual report focusing on a specific, critical aspect of development economics (e.g., jobs, digital dividends, or climate change).
• Global Economic Prospects (GEP): Examines global economic trends and prospects, with a specific focus on emerging markets and developing economies.
• Poverty and Shared Prosperity Report: Tracks the World Bank’s goals of ending extreme poverty and boosting shared prosperity.
• Human Capital Index (HCI): Measures the contributions of health and education to the productivity of the next generation of workers.

India–UK Critical Minerals Global Supply Chain Observatory (GSCO)

International

In News

• The India–UK Critical Minerals Global Supply Chain Observatory (GSCO) has been formally launched. 

About

• It is a joint digital platform launched in New Delhi on June 4, 2026.
• Launched by – IIT-ISM Dhanbad (through its TEXMiN foundation) & University of Cambridge.
• Objective – It tracks minerals like lithium, cobalt, and nickel across the globe. It warns of risks like war, export blocks, or price changes.

Significance – 

• It helps governments plan trade and build mineral stockpiles.
• These minerals power electric vehicles, solar panels, and defense tools. 
• The project helps both nations secure raw materials and reduce their dependence on single countries like China.

National Critical Mineral Mission (NCMM)

• Launch: The NCMM was approved by the Union Cabinet of India in January 2025, with a total outlay of approximately ₹16,300 crore over a period of 7 years (up to 2030–31).
• It is anchored under the Ministry of Mines.
• Objectives: Ensure a reliable and sustainable domestic supply of critical minerals such as lithium, cobalt, nickel, graphite, rare earth elements (REEs), titanium, and others.
• Reduce India’s import dependence for minerals vital to the energy transition (EVs, solar panels, wind turbines, batteries) and defence/electronics sectors.