Daily Current Affairs Quiz: August 30, 2025

Answer: b

Observed every year on 30 August

Aim : to recognize the contribution of Small-Scale Industries (SSIs) to the country’s economic development.

SMALL-SCALE INDUSTRIES (SSI) – KEY FACTS

• Definition: Small-scale industries are privately owned small manufacturing units, corporations, or service providers with limited resources and manpower.
• Contribution to Economy:
• Provide large-scale employment at low capital cost.
• Contribute significantly to India’s GDP and exports.
• Encourage entrepreneurship and self-reliance.

Answer: b

CURRENT CONTEXT : The USA has imposed an additional 25% tariff on Indian imports, affecting almost two-thirds of India’s exports by value to the US.

IMPACT ON INDIA

• Exports: May fall to USD 49.6 billion in 2025-26 from nearly USD 87 billion in 2024-25 (GTRI estimate).
• Most Affected Sectors: Labour-intensive industries like gems & jewellery, textiles, apparel, shrimp, auto components.
• Competitiveness: Indian products to lose edge over exporters from Vietnam, Bangladesh, Mexico.
• Foreign Inflows: Possible decline in FDI and volatility in FPI

WAY FORWARD

• Financial Support: Reinstate Interest Equalisation Scheme for low-cost MSME credit.
• Targeted Credit: Extend special credit lines for shrimp, apparel, jewellery, handicrafts.
• Export Incentives: Enhance RoDTEP and ROSCTL
• Policy Support: Simplify regulations, rationalise duties on key raw materials (cotton, leather, gems).

Answer: c

CURRENT CONTEXT : New Development Bank (NDB), set up by BRICS nations (Brazil, Russia, India, China, South Africa), appointed Dr Rajiv Ranjan as Vice President and Chief Risk Officer.

ABOUT DR RAJIV RANJAN

• Joined Reserve Bank of India (RBI) in 1989.
• Over 30 years of central banking experience.
• Served as Executive Director at RBI and member of the Monetary Policy Committee (MPC) since 2022.
• Worked with G20, IMF, World Bank, BIS, FSB, OECD, SAARC.
• Expertise: Monetary policy, liquidity management, financial markets, risk assessment.

INDIA’S ROLE IN NDB

• Second-largest project portfolio: USD 7.5 billion (after China’s USD 8.1 billion).

ABOUT NDB

• The New Development Bank, established by the BRICS nations (Brazil, Russia, India, China, South Africa), plays an important role in financing sustainable development and infrastructure projects.
• Established: July 2015 (formally launched at the 7th BRICS Summit, Ufa, Russia)
• Headquarters: Shanghai, China
• Member Countries: BRICS founding members; later expanded to include new members like Bangladesh, UAE, Egypt, Uruguay.
• Authorized Capital: USD 100 billion
• Initial Subscribed Capital: USD 50 billion (equally shared among BRICS nations)
• Current President: Dilma Rousseff (former President of Brazil)

Answer: b

Current Context : The World Health Organization (WHO) and United Nations Children’s Fund (UNICEF) released a joint report assessing global and national progress on Water, Sanitation and Hygiene (WASH) between 2000–2024, highlighting persistent inequalities that threaten the achievement of Sustainable Development Goal 6 (SDG-6).

Key Findings

Global Findings

• Open Defecation: In low-income countries, rates remain 4 times higher than the global average.
• Safe Sanitation Access: Improved to 58% worldwide.
• Drinking Water: Safely managed drinking water coverage rose from 68% (2015) to 74% (2024).
• Gendered Burden: Women spend disproportionate time fetching water.
• Menstrual Health: Data from 70 countries reveal widespread access gaps across all income groups.

India-Specific Findings

• Open Defecation: Drastic decline, but challenges persist in rural and marginalised groups.
• Sanitation Coverage: Near universal access; however, slippage in usage and waste management quality remains a concern.
• Drinking Water: Expanded household tap water connections, yet safely managed drinking water coverage is still below universal levels.
• Equity Issues: Tribal and poorest communities lag in access.

WASH Initiatives in India

• Swachh Bharat Mission (SBM)
  • Objective: Elimination of open defecation.
  • Impact: Empowered women, reduced child mortality, improved public health and safety.
• Jal Jeevan Mission (JJM)
  • Objective: Provide safe and adequate tap water connections to every rural household.
  • Focus: Universal coverage, with special attention to vulnerable groups.

Answer: c

Current Context : A recent study revealed that the Gangotri Glacier has lost nearly 10% of its snowmelt flow in the past four decades, raising concerns over water security for the Ganga basin.

About Gangotri Glacier

• Location: Uttarkashi district, Uttarakhand.
• Length: About 30 km.
• River System: Feeds the Bhagirathi River, which merges with the Alaknanda River at Devprayag to form the Ganga River.
• Protected Area: Lies within Gangotri National Park.
• Key Fauna: Snow Leopard, Himalayan Blue Sheep (Bharal), Himalayan Monal (state bird of Uttarakhand).

Answer: c

Current Context : At COP-30 in Belém, Brazil, India and other developing countries pushed to bring Article 9.1 back at the center of negotiations.

About Article 9.1

• Core Principle: Developed countries shall provide financial resources to assist developing countries in mitigation and adaptation.
• Basis: Anchored in the principle of Common but Differentiated Responsibilities (CBDR) and historical responsibility.
• Significance: Ensures climate justice by placing the responsibility of financing on developed countries.

Answer: a

Current Context : The Union Minister of State for Fisheries, Animal Husbandry & Dairying announced the launch of the Matsya Shakti Project to empower minority fishing communities.

About Matsya Shakti Project

• Implemented By: Vizhinjam Regional Centre of ICAR–Central Marine Fisheries Research Institute (CMFRI).
• Under Ministry: Ministry of Agriculture and Farmers’ Welfare.
• Scheme Link: Conceived under Pradhan Mantri Virasat Ka Samvardhan (PM VIKAS) Scheme.
• Purpose:
  • Empower minority fishing communities.
  • Provide year-long, phased training in sustainable livelihood and modern skill development.
  • Hands-on training in integrated aquaculture, seed production, and advanced fisheries technologies.

About PM VIKAS Scheme

• Type: Central Sector Scheme under Ministry of Minority Affairs.
• Components: Skill development, leadership training, entrepreneurship support.
• Reach: Expected to benefit around 9 lakh candidates during the 15th Finance Commission Cycle (2025-26).
• Merger of Schemes: Consolidates Seekho aur Kamao, USTTAD, Hamari Dharohar, Nai Roshni, Nai Manzil.
• Integration: Works with Skill India Mission and ministries like Women & Child Development, Panchayati Raj, Tourism, and Education.

Answer: c

Current Context : The Union Cabinet approved the restructuring and extension of the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme beyond 31 December 2024.

About PM SVANidhi Scheme

• Launch: 1 June 2020.
• Objective: Provide working capital loans to street vendors affected by COVID-19.
• Implementing Agencies:
  • Ministry of Housing & Urban Affairs (MoHUA).
  • Department of Financial Services (DFS) facilitates credit through banks.

Key Features of Restructured Scheme

• Coverage Expansion: From statutory towns to census towns and peri-urban areas.
• Enhanced Loan Tranches:
  • 1st tranche: ₹15,000 (earlier ₹10,000).
  • 2nd tranche: ₹25,000 (earlier ₹20,000).
  • 3rd tranche: ₹50,000 (unchanged).
• Digital Boost:
  • UPI-linked RuPay Credit Card for immediate credit access.
  • Cashback incentives up to ₹1,600 for digital transactions.
• Capacity Building:
  • Entrepreneurship, financial literacy, digital skills, marketing.
  • Food safety training for street vendors (with FSSAI).
• ‘SVANidhi se Samriddhi’: Strengthened through monthly Lok Kalyan Melas.