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Highlights of February 1st Week Current Affairs
- Indian Government Approves Mutual Credit Guarantee Scheme for MSMEs, providing up to ₹100 crore loan guarantees with 60% coverage for plant and machinery purchases.
- MSMEs with Udyam Registration are eligible, requiring at least 75% of project cost utilization for manufacturing capacity expansion.
- Loans up to ₹50 crore offer an 8-year repayment period, including a 2-year moratorium, with extended terms for higher amounts.
- No guarantee fee in the first year, followed by a 1.5% annual fee for the next three years on the outstanding loan amount.
- India launches ₹34,300 crore National Critical Minerals Mission to secure global mineral assets, enhance domestic mining, and reduce import reliance.
- ISRO successfully launches its 100th rocket, GSLV-F15, placing the NVS-02 satellite into orbit, strengthening India’s NavIC navigation system.
- Mission 300 Africa Energy Summit in Tanzania aims to provide electricity access to 300 million people in Sub-Saharan Africa by 2030.
- Mali, Burkina Faso, and Niger exit ECOWAS, citing diplomatic tensions, reducing the West African economic bloc to 12 member states.
- US President orders a migrant detention center at Guantánamo Bay, marking a major policy move on immigration enforcement.
- China’s EAST reactor sets a new record in fusion energy, maintaining stable plasma for over 1,000 seconds, a breakthrough in clean energy research.
- Finance Minister Nirmala Sitharaman presented the Economic Survey 2024-25, showing India’s economic performance. It’s shared a day before the Union Budget to highlight key trends.
- India’s GDP is expected to grow by 6.4% in FY25, with a growth range of 6.3-6.8% in FY26. This suggests a stable economic outlook despite global challenges.
- Agriculture is expected to grow by 3.8%, Industry by 6.2%, and Services by 7.2%. These numbers show strength in various sectors of India’s economy.
- Exports grew by 1.6%, while imports increased by 5.2%, widening the trade deficit. This shows the need to boost exports and reduce imports.
- Retail inflation fell from 5.4% in FY24 to 4.9% between April and December 2024. This drop is a good sign for the economy and consumers’ purchasing power.
- FDI inflows grew by 17.9% to USD 55.6 billion in FY25, showing that more investors are confident in India. This supports job creation and growth.
- India is the top recipient of remittances, helping to reduce the current account deficit to 1.2% of GDP. This strengthens India’s financial situation.
- The RBI will inject ₹1.50 lakh crore into the banking system to help with liquidity shortages. This will ensure smooth financial operations.
- India is considering a Bharat Sovereign Wealth Fund to manage national wealth and boost long-term growth. It could help make India’s economy stronger.
- Himachal Pradesh approved a pilot project for controlled cannabis farming. This could create new jobs and boost the local economy.
- The Prime Minister Dhan, Dhaanya Krishi Yojana will cover 100 low agricultural productivity districts, benefiting 1.7 crore farmers with enhanced irrigation and post-harvest storage facilities.
- The Kisan Credit Card (KCC) limit has been raised from ₹3 lakh to ₹5 lakh, providing additional financial support to farmers.
- The investment and turnover limits for MSMEs have been increased by 2.5 times, expanding credit opportunities for small businesses.
- ₹1 lakh crore has been allocated for the Urban Challenge Fund to develop cities as growth hubs, with ₹10,000 crore earmarked for 2025-26.
- 10,000 fellowships will be provided through the PM Research Fellowship program to promote advanced research in IITs and IISc.
- ₹20,000 crore will be allocated for the Nuclear Energy Mission for Viksit Bharat to develop Small Modular Reactors (SMRs), with private sector involvement.
- A new Export Promotion Mission has been launched to boost exports, led collaboratively by the Ministries of Commerce, MSME, and Finance.
- No income tax will be levied on annual incomes up to ₹12 lakh, with a slightly extended limit for salaried taxpayers.
- The Bharatiya Bhasha Pustak Scheme will provide digital Indian language books to students, enhancing accessibility and inclusivity in education.
- The National Manufacturing Mission aims to promote domestic manufacturing, with a focus on renewable energy products and electric vehicles.
- Trump imposed tariffs of 10% on all Chinese imports and 25% on Canadian and Mexican imports.
- Energy imports from Canada, including oil and natural gas, face a 10% tariff.
- Tariffs aim to curb illegal immigration and fentanyl exports but triggered swift retaliation.
- Canada imposed 25% tariffs on $155 billion worth of US imports, including alcohol and fruit.
- Mexico’s President rejected Trump’s claims and announced retaliatory tariffs.
- Tariffs could worsen inflation, increasing grocery, auto, and housing costs.
- Protectionist policies may escalate economic conflicts with major global economies.
- Despite claims, tariffs showed no substantial job growth in protected industries.
- China faces pressure to respond without triggering a global trade war.
- Indian exporters see an opportunity to gain market share as US tariffs raise Chinese goods’ prices.
- Trump administration proposed merging USAID with the State Department, raising concerns over funding cuts and downsizing.
- USAID, established in the 1960s, oversees international humanitarian aid and received $40 billion in 2023.
- Key areas of USAID work include food security, healthcare, infrastructure development, and humanitarian aid.
- Trump criticized foreign aid spending, leading to a 90-day pause on international spending and aid program suspensions.
- Funding freeze disrupted medical aid, clean water initiatives, and security programs in conflict zones.
- Critics warn USAID’s closure could lead to humanitarian crises, reduced US global influence, and increased geopolitical competition from China.
- India targets 100 GW nuclear power capacity by 2047, with ₹20,000 crore allocated for small modular reactor development.
- NPCIL and NTPC formed ASHVINI JV to develop nuclear power plants under existing regulatory frameworks.
- NASA and ESA are monitoring asteroid 2024 YR4, which has a 1.2% impact chance on Earth in December 2032.
- International Big Cat Alliance, launched by India, is now a treaty-based organization dedicated to conserving seven big cat species.
- Union Budget 2025–26 introduced measures to strengthen MSMEs, increasing investment and turnover limits by 2.5 and 2 times, respectively.
- Enhanced credit support includes doubling credit guarantee for startups to ₹20 crore and introducing credit cards for micro enterprises.
- Rajasthan introduced the Prohibition of Unlawful Conversion of Religion Bill 2025, making forced religious conversion a punishable offense with imprisonment up to 10 years.
- The modified UDAN scheme will connect 120 additional destinations, improve regional air connectivity, and facilitate air travel for 4 crore more passengers.
- IndiaAI Mission received ₹2,000 crore in the Union Budget, aiming to develop AI data centers with 19,000 GPUs and build a domestic Large Language Model (LLM).
- MoEFCC approved India’s first White Tiger Breeding Centre in Rewa, Madhya Pradesh, under the oversight of the Central Zoo Authority.
- Maharashtra announced the establishment of India’s first Artificial Intelligence University to foster AI education and innovation.
- Tshego Gaelae became the first Black South African to win Mrs. World 2025, held in Las Vegas.
- China launched the Chang’e-7 mission in 2025 to explore the Moon’s South Pole for water resources using an innovative flying robot.
- IIT Madras launched the Bharat Cancer Genome Atlas on World Cancer Day to advance cancer research in India.
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1 February to 7 February (Weekly Current Affairs Quiz)
Current Affairs of Other Weeks in February 2025
| February 4th Week Current Affairs 2025 | February 3rd Week Current Affairs 2025 |
| February 2nd Week Current Affairs 2025 | February 1st Week Current Affairs 2025 |