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Daily Current Affairs PDF of December 25th 2024

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CURRENT AFFAIRS : BANKING & FINANCE

Centre Likely to Set FY26 Fiscal Deficit Target Below 4.5% of GDP  

• The central government aims to reduce the fiscal deficit to below 4.5% of GDP by FY26, continuing its glide path of fiscal consolidation set out in the FY22 Budget.
• The government is focused on improving the quality of public spending and strengthening the social security net for the poor and needy, while maintaining fiscal discipline.

Key Highlights :

• FY25 Fiscal Deficit (Target and Actual):Target: The fiscal deficit for FY25 is targeted at 9% of GDP (3% in terms of GDP).
• Expected Actual: Analysts expect the fiscal deficit to be slightly lower than the target due to low spending on CAPEX (capital expenditure).
• Global Context: The FY25 Budget was presented amid global uncertainties caused by conflicts in Europe and West Asia.
• The global situation remains challenging, with risks to India's growth outlook still persisting.
• Fiscal Deficit in H1FY25: The fiscal deficit for the first half of FY25 stood at 29.4% of the Budget estimate (BE), lower than the 39.39% recorded in H1FY24.
• Global Headwinds: The ministry highlighted that global headwinds and risks continue to pose challenges to India's growth, making it crucial for the government to retain flexibility in fiscal policy to respond to adverse global events.

Government of India and Asian Development Bank Ink $500 Million Loan for Sustainable Infrastructure Aligned with Climate Goals   

• The Government of India (GoI) and the Asian Development Bank (ADB) signed a $500 million loan agreement to support green and sustainable infrastructure projects aligned with India’s climate commitments.
• The loan, with a sovereign guarantee, will be extended to the India Infrastructure Finance Company Limited (IIFCL).

Signatories:

• Juhi Mukherjee, Joint Secretary, Department of Economic Affairs, Ministry of Finance, Government of India.
• Mio Oka, Country Director, Asian Development Bank (ADB).

Purpose of Loan:

• To provide long-term capital for infrastructure projects focusing on connectivity, energy transition, urban projects, education, and healthcare.
• Support sectors under-resourced for development, in line with India’s climate commitments.

Key Highlights :

• IIFCL’s Role:IIFCL will leverage this funding to meet India’s net-zero commitments, which require private capital investments and innovative financing platforms.
• The institution will use the loan to integrate green practices into infrastructure projects and expand its product offerings for potential institutional investors.
• Sustainability and Capacity Building:The project will enhance IIFCL’s institutional capacity to implement sustainability practices in infrastructure.
• A sustainability unit and an environmental sustainability framework will be established to assess the sustainability ratings of projects.
• Focus Areas:Infrastructure projects focusing on connectivity, energy transition, urban development, and essential sectors like education and healthcare.

About ADB :

• Established : 19 December 1966
• Headquarters : Philippines
• President : Masatsugu Asakawa (until February 23, 2025), Masato Kanda
• Membership : 69 countries

CURRENT AFFAIRS: NATIONAL NEWS

2025 Republic Day Tableaux Theme and Selection Process:

• The 2025 Republic Day Tableaux theme has been announced as "Swarnim Bharat: Virasat aur Vikas" (Golden India: Heritage and Progress), highlighting the nation’s rich heritage and forward-looking development.

States, UTs, and Ministries Selected

• 15 States/UTs Selected:
  • Andhra Pradesh, Bihar, Chandigarh, Dadra and Nagar Haveli, Daman and Diu, Goa, Gujarat, Haryana, Jharkhand, Karnataka, Madhya Pradesh, Punjab, Tripura, Uttarakhand, Uttar Pradesh, and West Bengal.
• 11 Central Ministries/Departments:
  • Various ministries will also present their tableaux, showcasing India's progress in different domains.

Key Details on Tableaux Display

1. Kartavya Path: Selected states/UTs and ministries will showcase their tableaux during the main Republic Day parade.
2. Bharat Parv: All states/UTs, including those not selected for Kartavya Path, are invited to display their tableaux at Bharat Parv at Red Fort from January 26-31.

Significance of Tableaux

• Tableaux are an integral part of the Republic Day Parade, reflecting the diverse cultural, historical, and developmental journey of India.
• The 2025 theme will project India's vision of "Swarnim Bharat," harmonizing heritage and development for a global audience.

Vadhvan Port Development: Rs 20,000 Crore Investment by Terminal Investment Limited (TIL)

• Jawaharlal Nehru Port Authority Switzerland-based Terminal Investment Limited Sarl (TIL) has proposed to invest an estimated Rs 20,000 crore for the development of the Vadhvan Port and the surrounding ecosystem

Overview of the Development

• Project Name: Vadhvan Port Project
• Location: Near Dahanu, Palghar district, Maharashtra
• Total Project Investment: ₹76,200 crore
• Key Stakeholders:
  • Jawaharlal Nehru Port Authority (JNPA): 74% ownership
  • Maharashtra Maritime Board: 26% ownership
  • Special Purpose Vehicle (SPV): Vadhvan Port Project Ltd. (VPPL)

TIL's Investment Proposal

• Investor: Switzerland-based Terminal Investment Limited Sarl (TIL).
• Proposed Investment: ₹20,000 crore.
• Purpose: Development of Vadhvan Port and surrounding ecosystem.
• Collaboration Framework:
  • Memorandum of Understanding (MoU) signed between JNPA and TIL.
  • Partnership aims to position Vadhvan Port as a world-class, futuristic facility.

Delhi Increases Income Threshold for EWS Admissions in Private Schools

• Lieutenant governor (LG) VK Saxena approved the enhancement of the threshold limit of annual income from ₹2.5 lakh to ₹5 lakh for EWS (economically weaker sections) and disadvantaged groups for admissions to private schools

Key Highlights

• New Income Limit: Threshold for annual family income increased from ₹2.5 lakh to ₹5 lakh for admissions under the Economically Weaker Sections (EWS) quota in private schools.
• Decision Approved By: Lieutenant Governor (LG) VK Saxena.
• Legal Background:
  • The Delhi High Court directed an increase to ₹5 lakh in December 2023.
  • The Delhi government initially proposed raising the limit to ₹2.5 lakh in October 2024, which was later revised following further court orders.

No-Detention Policy Abolished for Classes 5 and 8 in Central Schools

• The Central Government has eliminated the "no-detention policy" for classes 5 and 8 in schools under its control.
• This move allows failing students to be retained in the same grade if they do not pass their year-end tests.
• Applicability:
  • The notification applies to over 3,000 central government-run institutions, including:
    • Kendriya Vidyalayas
    • Navodaya Vidyalayas
    • Sainik Schools
  • Re-Examination Framework:
    • Students failing year-end tests will receive extra tutoring and can retake exams within two months.
    • If they fail the re-exam, they will be retained in the same grade.

Key Provisions

• Support Mechanisms for Students:
  • Teachers will provide specialized support to address learning gaps.
  • Guidance will also be offered to parents to ensure continued learning progress.
• No Expulsion Rule:
  • The Right to Education Act rule prohibiting expulsion from school until the completion of education remains intact.

State-Level Implementation

1. Adoption Across States:
   • Following the 2019 amendment to the RTE Act, 16 states and 2 Union Territories, including Delhi, have already scrapped the no-detention policy for classes 5 and 8.
   • Haryana and Puducherry are yet to make a decision.
2. Policy Discretion for States:
   • Education being a state subject, individual states and UTs can decide whether to implement or retain the no-detention policy.

Shivraj Singh Chouhan Discusses New Scheme to Lower Farmers' Transportation Costs and Promote Natural Farming

• Union Agriculture Minister Shivraj Singh Chouhan announced the central government's plan to develop a scheme aimed at reducing transportation costs for farmers.
• The scheme will help farmers by bearing transportation expenses, enabling them to sell produce at larger markets in cities like Delhi, Mumbai, Chennai, and Kolkata.
• The initiative will involve state and central government agencies, including NAFED, which will procure produce from farmers, aggregate it, and transport it to distant markets.
• Storage Capacity Enhancements:
  • Chouhan emphasized efforts to increase storage capacity at the farm and village levels. This includes the expansion of warehouses to help farmers store produce and sell at more profitable times.
  • The aim is to improve holding power for farmers, enabling them to sell when market prices are favorable.

Focus on Sustainable Agriculture

1. Promotion of Natural Farming:
   • Chouhan highlighted the issue of indiscriminate use of fertilizers and pesticides, which raises production costs.
   • He advocated for natural farming as a solution to reduce input costs and protect the environment. He emphasized that natural farming can improve productivity when done correctly.
2. Caution Against Genetically Modified Crops:
   • The Minister expressed concerns over the potential damage to human health and soil caused by genetically modified (GM) crops.
   • He urged caution and suggested exploring other ways to increase agricultural productivity without relying on GM crops.
3. Inefficiency of Canal Irrigation:
   • Chouhan criticized canal irrigation as inefficient and proposed more efficient alternatives like drip irrigation and piping systems to help farmers irrigate more effectively with less water.

CURRENT AFFAIRS : INTERNATIONAL NEWS

India-European Free Trade Association  FTA: Plans for Mechanisms to Accelerate $100-Billion Investment  

• India and the European Free Trade Association (EFTA) signed the Trade and Economic Partnership Agreement (TEPA) in March 2024, aiming to boost trade and investment.
• The EFTA bloc (Switzerland, Iceland, Norway, and Liechtenstein) has committed to investing $100 billion in India over the next 15 years, which is expected to create 1 million jobs.

Key Highlights :

• Fast-Tracking Investment Proposals: Post-ratification of the agreement (expected by Q1 2025), both sides plan to establish institutional mechanisms to fast-track clearances for investment proposals from EFTA countries.
• Sectors of Investment: EFTA countries are interested in investing in sectors such as renewable energy, pharmaceuticals, IT, shipping, maritime, and engineering.
• India's Tariff Commitments: India has agreed to eliminate tariffs on a variety of products, including chocolates, watches, bicycles, smartphones, garments, and olive oil, benefiting EFTA countries, especially Switzerland.
• Switzerland's MFN Clause Suspension: Despite Switzerland suspending the Most-Favoured-Nation (MFN) clause in the Double Taxation Avoidance Agreement with India, it is not expected to affect the ratification of the India-EFTA TEPA.
• Medium-Scale Enterprises: The EFTA countries aim to help medium-scale enterprises scale up and explore opportunities in India, contributing to innovation and economic growth.
• Swiss Investments in India: Switzerland is the largest investor among EFTA countries, with approximately $10.72 billion in FDI between April 2000 and September 2024.
• Priority to EFTA Investments: India plans to prioritize investments from EFTA countries through fast-track clearance mechanisms at the inter-governmental level.

About EFTA :

• Founded : 1960
• Headquarters : Geneva, Switzerland

External Affairs Minister S. Jaishankar to travel to the United States on December 24 for talks with Antony Blinken on key bilateral, regional, and global matters    

• External Affairs Minister (EAM) S. Jaishankar will visit the United States (US) from December 24-29,2024 marking the first high-level visit from India after Donald Trump won the US presidential election.
• Jaishankar will hold discussions with US counterparts on key bilateral, regional, and global issues.
• Jaishankar will also chair a conference of India's Consul Generals in the US.
• Jaishankar is expected to meet with US Secretary of State Antony Blinken and other officials, marking likely final engagements with the outgoing Biden administration.

Key Highlights :

• India-US Relations Under Biden and Trump:Relations between India and the US improved under President Trump (2017-2021), with cooperation in defence and high-technology sectors.
• The relationship continued to grow under the Biden administration, particularly with initiatives like the US-India Initiative on Critical and Emerging Technology (iCET) launched in May 2022.
• Defence Cooperation:India signed a USD 4 billion deal with the US in October for 31 Predator drones (for Navy, Air Force, and Army) to strengthen its military capabilities, especially along the China border.
• Sea Guardian drones will be used for roles like maritime surveillance and anti-submarine warfare.
• The visit occurs just before Donald Trump’s second presidential term, beginning on January 20.
• Jaishankar acknowledged that Trump had a positive view of India, with India in a favorable position to deepen relations with his administration, despite potential issues.

About United States :

• President : Joe Biden
• Capital : Washington, D.C.
• Currency : U.S. dollar ($)

CURRENT AFFAIRS : STATE NEWS

Masli in Gujarat's Banaskantha Becomes India's First 'Border Solar Village'

• Masali, a village in Banaskantha district, Gujarat, has become the first "border solar village" in India.
• The transformation was achieved by completing solar rooftop installations in all 199 houses under the Pradhan Mantri Surya Ghar Muft Bijli Yojana.
• Masali has a population of 800 and is located 40 kilometers from the Pakistan border.

Key Highlights :

• Project Cost and Implementation:The total cost of the solar installation project in the village was ₹1.16 crore.
• The project was implemented with the cooperation of multiple stakeholders, including the state revenue department, Uttar Gujarat Vij Company Limited, banks, and solar companies.
• Electricity Generation:A total of 225.5 kilowatts of electricity is being generated through solar power in the village, which exceeds its electricity requirements.
• Scope of the Scheme:Masali is the first of 17 border villages in Banaskantha district to be covered under the Pradhan Mantri Surya Ghar Muft Bijli Yojana.
• These 17 villages include six in Suigam taluka and 11 in Vav taluka.
• Funding Details:The ₹1.16 crore project received funding from various sources:
• ₹59.81 lakh subsidy under the PM Surya Ghar Bijli Yojana
• ₹20.52 lakh public contribution
• ₹35.67 lakh CSR (Corporate Social Responsibility) funds

About Pradhan Mantri Surya Ghar Muft Bijli Yojana:

• The Pradhan Mantri Surya Ghar Muft Bijli Yojana is the world's largest domestic rooftop solar initiative.
• The scheme aims to provide solar power to 1 crore households by March 2027.
• It was launched by Prime Minister Narendra Modi on February 15, 2024.

About Gujarat :

• Governor : Acharya Devvrat
• Chief Minister : Bhupendrabhai Patel
• Capital : Gandhinagar

CURRENT AFFAIRS: BUSINESS NEWS

GST Registration for Small Businesses in 3 Days:

• To simplify the GST registration process for small and new businesses while curbing fraudulent registrations.
• Approval: The GST Council provided ‘in-principle’ approval for the mechanism during its meeting on December 21.

Proposed Four-Tier Structure

1. Tier 1: New and Small Businesses:
   • For businesses with limited or no ITC transfer, registration will be granted within 3 days based on Aadhaar-based authentication.
   • Cap on ITC transfer set at ₹5 lakh per month.
2. Tier 2: Trusted Businesses:
   • Includes businesses with better compliance records such as:
     • Public sector companies, government entities, and compliant private firms.
   • No biometric Aadhaar authentication or physical verification required.
   • No cap on ITC transfer.
3. Tier 3: Existing Businesses with Higher ITC Needs:
   • For businesses seeking ITC beyond the specified limit but not categorized as "trusted."
   • Requirements:
     • Non-refundable application fee.
     • Fixed deposit.
     • No Objection Certificate (NoC) from trusted businesses.
4. Tier 4: Change of Category for Higher ITC Needs:
   • Businesses seeking to upgrade their category for increased ITC transfer will follow this tier.

Lohia Auto Launches EV Brand 'Youdha' with Rs 20-Crore Expansion Plan

• Lohia Auto announced the launch of EV brand 'Youdha' as part of its Rs 20-crore expansion plans and it looks to manufacture and sell 3 lakh electric vehicles under the brand by 2027.

• New Brand: Youdha, a dedicated electric vehicle (EV) brand by Lohia Auto.
• Investment: ₹20 crore for brand development and expansion.
• Target: Manufacture and sell 3 lakh electric three-wheelers under the brand by 2027.

Product Portfolio

• Segments:
  • Passenger: Focused on urban and semi-urban commuting.
  • Cargo: Designed for logistics and sustainable transportation.
• Initial Models:
  • E5 Passenger Three-Wheeler:
    • Features a 10-kW battery.
    • Range: Up to 160 km per charge.
    • Starting Price: ₹3.80 lakh (ex-showroom).
  • E5 Cargo Model:
    • Tailored for reliable and sustainable logistics solutions.

Strategic Goals

1. Market Leadership:
   • Position Youdha as a key player in the rapidly growing electric three-wheeler segment.
2. Sustainability:
   • Promote eco-friendly transportation solutions for both passengers and cargo.
3. Accessibility:
   • Offer cost-effective and reliable options tailored to diverse customer needs.
4. Growth Target:
   • Achieve a milestone of 3 lakh vehicles by 2027, contributing to India's EV revolution.

CURRENT AFFAIRS: AWARDS AND HONOURS

Santosh Ajmera Receives International Electoral Award for Citizens’ Engagement

• Santosh Ajmera, an Indian Information Service (IIS) officer of the 2008 batch, has won an international award for effectively engaging citizens during the country's general elections.

Award Details

• Award: International Electoral Award for Citizens’ Engagement 2024.
• Organized by: International Centre for Parliamentary Studies (ICPS).
• Presentation: During a three-day symposium in the Dominican Republic.

About Santosh Ajmera

• Position: Indian Information Service (IIS) officer, 2008 batch.
• Role in Elections:
  • Served with the Election Commission of India (ECI).
  • Spearheaded the Systematic Voters’ Education and Electoral Participation (SVEEP) programme for over 3.5 years.

Key Contributions

1. Citizen-Centric Initiatives:
   • Developed strategies to increase voter engagement and satisfaction.
   • Tackled issues like low voter turnout, electoral cynicism, and distrust in processes.
2. Communication Campaign:
   • Led the ambitious campaign ‘Chunav Ka Parv, Desh Ka Garv’ during this year's parliamentary elections.
   • Promoted elections as a national celebration, inspiring citizen pride and participation.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Former Supreme Court Judge V. Ramasubramanian Appointed as Chairperson of National Human Rights Commission   

• Former Supreme Court judge V. Ramasubramanian has been appointed as the new chairperson of the National Human Rights Commission (NHRC).
• The position of NHRC chairperson had been vacant since June 1, 2023, after Justice (retd) Arun Kumar Mishra completed his tenure.
• Justice Mishra served as the 8th chairperson of NHRC, having been appointed in June 2021.
• Justice Mishra was the first non-CJI to be appointed as the NHRC chairperson after the amendment to the Protection of Human Rights Act in 2019.
• Selection Process:A high-powered committee led by Prime Minister Narendra Modi met on December 18, 2023, to select the new chairperson of NHRC.
• The President of India appoints the NHRC chairperson based on the recommendation of a selection committee, typically consisting of a former Chief Justice of India (CJI) or a retired judge of the Supreme Court.
• Previous Chairpersons of NHRC:Former CJIs H.L. Dattu and K.G. Balakrishnan have previously served as chairpersons of the NHRC.

Other Appointments:

• Along with Justice V. Ramasubramanian, Shri Priyank Kanoongo (former chairperson of the National Commission for Protection of Child Rights) and Justice Bidyut Ranjan Sarangi (retired judge) was also appointed as a member of the NHRC.
• Vijaya Bharathi Sayani, an existing NHRC member, became the acting chairperson after Justice Mishra demitted office on June 2, 2023.

About National Human Rights Commission of India :

• Formed : 12 October 1993
• Headquarters : New Delhi, India

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Honda and Nissan Reveal Merger Plans, Set for Completion by August 2026   

• Honda Motor Company, Nissan Motor, and Mitsubishi Motors announced plans to merge and co-develop future products, aiming to form a holding company that could potentially become the third-largest auto group globally.
• The companies reached a basic agreement to proceed with discussions based on a memorandum of understanding (MOU) signed by Nissan and Honda on August 1, focusing on intelligence and electrification.

Key Highlights :

• Integration Preparatory Committee:The companies will set up an integration preparatory committee to facilitate a smooth integration process and discuss potential synergies based on due diligence.
• Business Integration Goals:Nissan and Honda aim to become a world-class mobility company, with sales revenue exceeding 30 trillion yen and operating profit of more than 3 trillion yen.
• Manufacturing and Cost Reduction:Optimizing manufacturing plants and energy service facilities, along with shared production lines, is expected to improve capacity utilization and reduce fixed costs.
• Timeline and Definitive Agreement:A definitive agreement on the business integration, including share transfer plans, is expected to be executed by June 2025, with share transfer anticipated by August 2026.
• Mitsubishi Motors will evaluate its involvement and aims to make a decision by January 2025.
• Potential for a Huge Conglomerate:The merger could create a conglomerate worth more than $50 billion, positioning the alliance to compete with Toyota Motor Corp and Volkswagen Group.
• Production Scale:The combined entity could produce around 8 million vehicles annually, nearing Toyota’s 11.5 million vehicles produced in 2023.
• In 2023, Honda produced 4 million vehicles, Nissan produced 3.4 million, and Mitsubishi produced just over 1 million vehicles.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Start-ups to Lead India's Space Sector Growth in 2025   

• India is expected to achieve its first orbital launch in 2025.
• Start-ups like Skyroot and Agnikul are anticipated to complete their sub-orbital launches ahead of this milestone.

Key Highlights :

• Public-Private Partnership (PPP) Model:The public-private partnership (PPP) model in India's space sector has been praised by Lt Gen AK Bhatt (Retd), Director General of the Indian Space Association (IspA), as a key driver of growth.
• ISRO is collaborating with private players to develop technologies, including Small Satellite Launch Vehicles (SSLV).
• Private Sector Involvement:ISRO is inviting private firms to participate in the development of launch vehicles and satellites.
• For example, private players are expected to play a role in developing SSLVs and expanding satellite constellations like Pixxel's plan to have 36 satellites in low Earth orbit.
• The private sector will also participate in the establishment of earth stations-as-a-service.
• ISRO’s Collaboration with Private Firms:ISRO has initiated steps to involve private companies in manufacturing the Launch Vehicle Mark-III (used in Chandrayaan-2 & 3) and in the creation of Earth Observation satellites through IN-SPACe.
• Growth in Satellite Data Demand:Growing demand for satellite-based data in regions such as North America, Europe, and Asia presents significant scaling opportunities for India’s space sector.
• FASTag GPS Pilot Project:FASTag GPS, a satellite-based toll collection system, is being piloted by the Ministry of Road Transport and Highways (MoRTH) to replace the existing FASTag system on expressways, marking an innovative leap in toll collection.
• India’s Space Sector in the Coming Years:The next few years will be pivotal for India's space sector with advancements in technology, strategic collaborations, and increased private sector involvement.
• India aims to become a global leader in space exploration, with applications in sectors like agriculture, infrastructure, and defence.

Indian Space Research Organisation Successfully Performs Sea-Level Hot Test of CE20 Cryogenic Engine  

• Indian Space Research Organisation (ISRO) successfully conducted the sea-level hot test of its CE20 cryogenic engine.
• Significance of the Test:The test, which includes restart-enabling systems, is a critical step for ISRO’s future space missions.
• Testing the engine at sea level is challenging due to the high area ratio nozzle with an exit pressure of approximately 50 mbar.

Key Highlights :

• CE20 Cryogenic Engine:The CE20 cryogenic engine is developed by Liquid Propulsion Systems Centre of ISRO.
• It powers the upper stage of the Launch Vehicle Mark-3 (LVM3) and is designed to operate at a thrust level of 19 tonnes.
• This engine has successfully powered the upper stage of six LVM3 missions.
• Upgraded Capabilities:The engine has been qualified for the Gaganyaan mission with a thrust level of 20 tonnes.
• It has also been upgraded to an uprated thrust level of 22 tonnes for the future C32 stage, aimed at enhancing the payload capacity of the LVM3 launch vehicle.

About ISRO :

• Established: 15 August 1969
• Headquarters: Bangalore, Karnataka, India
• Chairman: S. Somanath

CURRENT AFFAIRS: IMPORTANT DAYS

Good Governance Day: 25th December

• Good Governance Day 2024 is observed on the 25th of December 2024.

Good Governance Day History

• Good Governance Day 2024 is observed for the birth anniversary of Former prime minister Atal Bihari Vajpayee.
• Atal Bihari Vajpayee, a former prime minister, and Pandit Madan Mohan Malaviya were both named as recipients of the Bharat Ratna, the country's highest civilian honor, on December 23, 2014.
• Following the declaration, the newly-elected Prime Minister Narendra Modi declared that December 25 would be observed as Good Governance Day.
• Three times, Atal Bihari Vajpayee led India as prime minister.
• In 1996, his first term lasted just 13 days.
• He completed his second term from 1999 to 2004 after serving it for a total of thirteen months from March 1998 to April 1999. In 1962, he made his debut appearance in the Rajya Sabha. He won seven elections for the Lok Sabha.
• Vajpayee received the Bharat Ratna, the highest civilian honor in India, in 2015.

Daily CA One- Liner: December 25

• The 2025 Republic Day Tableaux theme has been announced as "Swarnim Bharat: Virasat aur Vikas" (Golden India: Heritage and Progress), highlighting the nation’s rich heritage and forward-looking development.
• Jawaharlal Nehru Port Authority Switzerland-based Terminal Investment Limited Sarl (TIL) has proposed to invest an estimated Rs 20,000 crore for the development of the Vadhvan Port and the surrounding ecosystem
• Lieutenant governor (LG) VK Saxena approved the enhancement of the threshold limit of annual income from ₹2.5 lakh to ₹5 lakh for EWS (economically weaker sections) and disadvantaged groups for admissions to private schools.
• The Central Government has eliminated the "no-detention policy" for classes 5 and 8 in schools under its control.
• Union Agriculture Minister Shivraj Singh Chouhan announced the central government's plan to develop a scheme aimed at reducing transportation costs for farmers.
• To simplify the GST registration process for small and new businesses while curbing fraudulent registrations.
• Lohia Auto announced the launch of EV brand 'Youdha' as part of its Rs 20-crore expansion plans and it looks to manufacture and sell 3 lakh electric vehicles under the brand by 2027.
• Santosh Ajmera, an Indian Information Service (IIS) officer of the 2008 batch, has won an international award for effectively engaging citizens during the country's general elections
• The central government aims to reduce the fiscal deficit to below 4.5% of GDP by FY26, continuing its glide path of fiscal consolidation set out in the FY22 Budget.
• The Government of India (GoI) and the Asian Development Bank (ADB) signed a $500 million loan agreement to support green and sustainable infrastructure projects aligned with India’s climate commitments.
• India and the European Free Trade Association (EFTA) signed the Trade and Economic Partnership Agreement (TEPA) in March 2024, aiming to boost trade and investment.
• External Affairs Minister (EAM) S. Jaishankar will visit the United States (US) from December 24-29,2024 marking the first high-level visit from India after Donald Trump won the US presidential election.
• Masali, a village in Banaskantha district, Gujarat, has become the first "border solar village" in India.
• Former Supreme Court judge V. Ramasubramanian has been appointed as the new chairperson of the National Human Rights Commission (NHRC).
• Honda Motor Company, Nissan Motor, and Mitsubishi Motors announced plans to merge and co-develop future products, aiming to form a holding company that could potentially become the third-largest auto group globally.
• India is expected to achieve its first orbital launch in 2025.
• Indian Space Research Organisation (ISRO) successfully conducted the sea-level hot test of its CE20 cryogenic engine.
• Good Governance Day 2024 is observed on the 25th of December 2024.