Current Affairs - National

The Union Budget 2025-26, presented by Finance Minister Nirmala Sitharaman, has raised the Foreign Direct Investment (FDI) limit in the insurance sector from 74% to 100%. This reform aims to attract foreign capital, improve market penetration, and integrate global best practices into India's insurance industry. The move is expected to bring in global insurance companies, fostering competition and strengthening the sector’s growth. Additionally, regulatory conditions on foreign investment are set to be simplified, ensuring a smoother and more efficient investment process. This policy change aligns with broader financial sector reforms aimed at enhancing India's economic landscape.

Nirmala Sitharaman has made history by presenting her 8th consecutive Union Budget on February 1, 2025. This sets a new record for the highest number of back-to-back budget presentations by any finance minister in India's history. Her tenure also marks the first budget under the Modi 3.0 government and reflects her significant role as India’s first full-time woman Finance Minister, continuing her impactful career in the country's financial landscape.

India has recently added four new wetlands to the Ramsar List, bringing the total number of Ramsar sites in India to 89. These include Udhwa Lake in Jharkhand, Sikkim’s first Ramsar site, a wetland in Gujarat, and another in Northeast India. This expansion highlights India’s ongoing efforts to conserve important wetlands, which are vital for biodiversity and the health of local ecosystems. The addition of these sites marks a significant milestone in the country’s environmental conservation journey.

NITI Aayog organized a workshop on the Circular Economy in Jaipur, focusing on the management and recycling of End of Life Vehicles (ELV) and End of Life Tyres (ELT). The event was inaugurated by Shri Naresh Pal Gangwar and emphasized the importance of circular economy practices in achieving India's Viksit Bharat@2047 vision. With over 150 participants, the workshop facilitated discussions on policy, technological advancements, and collaborative solutions for improving recycling and sustainability in the sector.

BSNL has launched the IFTV platform across India, offering over 550 live TV channels and premium OTT apps in collaboration with Skypro and PlayboxTV. This initiative aims to enhance digital entertainment accessibility for both urban and rural users. Skypro handles content delivery, while PlayboxTV curates high-quality entertainment. With a strong base of over 4 million FTTH users, BSNL now provides premium TV and OTT services at no extra cost, strengthening its position in the telecom and digital content sectors. This move aligns with BSNL’s goal of expanding its broadband and multimedia offerings nationwide.