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Current Affairs

Net direct tax collections at Rs. 11.89 lakh crore

♦ India’s net direct tax revenue climbed 6.33 percent to over Rs.11.89 lakh crore in the current fiscal year 2025-26 (till October 12), driven by stronger corporate tax collections and slower refund payouts. ♦ The total gross direct tax collection stood at Rs.13.92 lakh crore, up from Rs.13.60 lakh crore during the same period last year. ♦ Refunds issued declined to Rs.2.03 lakh crore, a fall of nearly 16% compared to Rs.2.41 lakh crore in FY 2024-25. ♦ Non-corporate tax stood at around 6.56 lakh crore rupees, up from over 5.94 lakh crore rupees in the same period in 2024.  ♦ For the full fiscal year 2025-26, the government has set a direct tax collection target of Rs 25.20 lakh crore, aiming for a 12.7% increase over the previous year. ♦ The government also plans to raise Rs 78,000 crore from STT in the current fiscal.

Current Affairs

India-Australia joint military exercise

♦ The 4th edition of India-Australia joint military exercise, AUSTRAHIND-2025, commenced at Irwin Barracks, Perth, Australia on 13 October 2025. ♦ The exercise, being held from October 13 to 26, seeks to enhance interoperability, joint planning, and execution capabilities between the two armies across diverse operational environments.  ♦ The Indian Army contingent is being led by a Battalion of Gorkha Rifles along with troops from other arms and services. ♦ The exercise is aimed at enhancing military cooperation, improving interoperability and providing a platform for participating armies to exchange tactics, techniques and procedures in the domains of sub conventional warfare in urban/ semi urban terrain.

Current Affairs

Nobel Memorial Prize in Economic

♦ The Nobel Memorial Prize in Economic Sciences for 2025 was awarded to Joel Mokyr, Philippe Aghion and Peter Howitt on 13 October 2025. ♦ The three were honoured, “for having explained innovation-driven economic growth”. ♦ One half of the prize goes to Mr. Mokyr, while the other half will be divided between Mr. Aghion and Mr. Howitt. ♦ In 2024, the prize went to Daron Acemoglu, Simon Johnson, and James Robinson, “for studies of how institutions are formed and affect prosperity”.  ♦ The economics prize is formally known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. ♦ The Swedish central bank established it in 1968 as a memorial to Nobel, the 19th-century Swedish businessman and chemist who invented dynamite and established the five Nobel Prizes. ♦ Nobel purists insists that the economics prize is technically not a Nobel Prize. ♦ However, it is presented together with the other awards on December 10, the anniversary of Nobel’s death. ♦ Since 1968, the prize been given out 56 times to a total of 96 people.

Current Affairs

Unified Markets Interface (UMI)

♦ Reserve Bank of India (RBI) has developed a Unified Markets Interface (UMI) which is envisioned as new next generation financial market infrastructure. ♦ Asset tokenization converts real-world assets into digital tokens on blockchain, creating fractional ownership and global trading opportunities. ♦ It offers new possibilities for the financial markets in expanding access, improving transparency and enhancing settlement efficiency through smart contracts.

Current Affairs

Bhawna Chaudhary

♦ Inspector Bhawna Chaudhary became the first woman flight engineer in the Border Security Force (BSF) air wing. ♦ Bhawna  along with four male subordinate officers were recently awarded their flying badges by BSF director general Daljit Singh Chawdhary.  ♦ Since 1969, the BSF has operated the aviation unit of the Ministry of Home Affairs (MHA), catering to the operational needs of paramilitary forces and special units like the NSG and the NDRF.  ♦ During the training, which started in August, the personnel underwent 130 hours of skill development and gained real operational exposure as various BSF air wing assets flew sorties, including during recent floods in Punjab and other states. 

Current Affairs

T-Chip

♦ Hyderabad has become home to the country’s first-ever Semiconductor Innovation Museum, launched by T-Chip ((Technology Chip Innovation Programme) on 12 October 2025. ♦ The museum aims to showcase path-breaking research and technological advancements in chipmaking.  ♦ The museum, aims to position Hyderabad as a hub for semiconductor innovation by hosting monthly demo days, global showcases and investor networking events. ♦ It offers visitors a glimpse into the future of semiconductor-driven technology, with exhibits ranging from AI-powered humanoid robots and robotic pet companions to India’s first indigenous AI chip, a reusable rocket engine, and next-generation EV and display systems.

Current Affairs

Sugar exports to reach 7.75 lakh tonnes in 2024-25

♦ India exported an estimated 7.75 lakh tonnes (775,000 tonnes) of sugar in the 2024-25 marketing year (October to September), the All India Sugar Trade Association (AISTA) announced on 12 October 2025. ♦ The sugar marketing year runs from October to September. ♦ The government had allowed exports of up to 10 lakh tonnes for 2024-25, beginning January 20, 2025.  ♦ AISTA said mills shipped a total of 7.75 lakh tonnes between February and September, including 6.13 lakh tonnes of white sugar, 1.04 lakh tonnes of refined sugar, and 33,338 tonnes of raw sugar. ♦ About 21,000 tonnes of raw sugar delivered to Special Economic Zone refineries were considered deemed exports. ♦ The largest shipments went to Djibouti (1.46 lakh tonnes), followed by Somalia (1.35 lakh tonnes), Sri Lanka (1.34 lakh tonnes) and Afghanistan (75,533 tonnes).

Current Affairs

PM Dhan Dhaanya Krishi Yojana

♦ Prime Minister Narendra Modi launched two major schemes in the agriculture sector, with an outlay of Rs 35,440 crore on 11 October 2025. ♦ He launched the PM Dhan Dhaanya Krishi Yojana which has an outlay of Rs.24,000 crore. ♦ He also launched the Mission for Aatmanirbharta in Pulses with an outlay of Rs.11,440 crore. ♦ The Prime Minister also inaugurated and dedicated to the nation projects valued at over Rs.5,450 crore in the agriculture, animal husbandry, fisheries, and food processing sectors, while laying the foundation stone for additional projects worth around Rs.815 crore. 

Current Affairs

Sonali Sen Gupta

♦ The Reserve Bank of India (RBI) has appointed Sonali Sen Gupta as Executive Director (ED). ♦ Before this appointment, Sonali Sen Gupta was the Regional Director for Karnataka at the Bangalore Regional Office. ♦ She has represented the RBI in G20's Global Partnership for Financial Inclusion (GPFI) and OECD's International Network on Financial Education (INFE) and has served as a Director on the board of the National Centre for Financial Education (NCFE). ♦ As Executive Director, Sonali Sen Gupta will oversee the Consumer Education and Protection Department, the Financial Inclusion and Development Department, and Inspection Department.

Current Affairs

National Green Hydrogen Mission

♦ Ministry of New and Renewable Energy has formally recognised three major ports as Green Hydrogen Hubs under the National Green Hydrogen Mission. ♦ These ports are Deendayal Port Authority in Gujarat, V.O. Chidambaranar Port Authority in Tamil Nadu and Paradip Port Authority in Odisha.  ♦ This recognition marks a significant step towards creating an integrated hydrogen ecosystem and advancing India’s transition towards clean energy. ♦ The National Green Hydrogen Mission aims to position India as a global hub for the production, utilisation, and export of green hydrogen and its derivatives. ♦ The Mission promotes the development of large-scale hydrogen hubs to serve as focal points for production and consumption.

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