News In Short 01-08-2026

Broad Peak Avalanche

Syllabus: GS1/ Geography

In News

• A massive avalanche struck a 10-member international climbing expedition on the slopes of Broad Peak in the Karakoram range.

About

• Broad Peak (locally known as Falchan Kangri) is the 12th-highest mountain in the world, with an elevation of 8,051 m.
• Located in the Karakoram Range, on the border of Gilgit-Baltistan (Pakistan) and Xinjiang (China).
• Situated about 8 km southeast of K2, within the Gasherbrum massif.

• It is named by Sir Martin Conway (1892) after its unusually broad summit ridge, resembling the Breithorn in the Swiss Alps.
• First successfully climbed in 1957 by a four-member Austrian team without supplementary oxygen.
• It is formed due to the collision of the Indo-Australian and Eurasian tectonic plates. Feeds the Godwin-Austen Glacier and the Baltoro Glacier.

Source: India Today

Cabinet Approves Revamped Khelo India Scheme

Syllabus: GS2/Governance

Context

• The Union Cabinet has approved an expanded Khelo India Scheme and enhanced Assistance to National Sports Federations (ANSFs) with a combined outlay of 36,441 crore rupees for the period 2026-27 to 2030-31. 

About

• The ‘Khelo India – National Programme for Development of Sports’ was launched in 2016-17 with the twin objective of mass participation and promotion of excellence in sports across the country.
• The revamped scheme is designed to create a seamless pathway for every talented young Indian, from school playgrounds and village sports fields to the Olympic podium. 
  • It is aligned with the vision of Khelo Bharat Niti 2025 and the National Education Policy 2020.
• The scheme establishes an integrated nationwide sports ecosystem comprising National Centres of Excellence (NCOEs), Khelo India Centres of Excellence (KICoEs), SAI Training Centres (STCs), Khelo India Accredited Academies (KIAAs), Khelo India Centres (KICs) and Youth Sports Companies (YSCs) of the Armed Forces.
  • Together, these institutions will provide world-class coaching, sports science support and modern infrastructure across the country.
• Emerging Khelo India Athletes: It has created an Emerging Khelo India Athletes (E-KIAs) category, this will expand the structured athlete development ecosystem by nearly ten times.
• The Fit India Movement will be significantly expanded to promote fitness as a nationwide movement, particularly among young people. 
• The Government will establish the National Coach Accreditation Board (NCAB) to standardise coaching qualifications, improve professional standards and strengthen the capacity of coaches and support staff across the country.
• Strengthened Assistance to National Sports Federations (ANSF) Scheme for the period 2026-31. 
  • The scheme will support Indian athletes and teams through funding for coaching, sports science, modern equipment, international exposure, coaching camps, engagement of foreign experts and participation in major international competitions. 
  • It will also support sports cooperation with countries of the Global South and promote India’s indigenous sports internationally.

Source: AIR

Pradhan Mantri Surya Sarovar Yojana (PM-SSY)

Syllabus: GS3/Renewable Energy

Context

• The Union Cabinet approved the ‘Pradhan Mantri Surya Sarovar Yojana (PM-SSY)’.

About

• The scheme is for the development of Floating Solar Photovoltaic (FSPV) Projects with Energy Storage Systems (ESS) with a total outlay of Rs.5,070 crore.
• The scheme envisages the development of 5,000 MW of Floating Solar Photovoltaic projects with co-located Energy Storage Systems having a minimum storage capacity of two hours i.e., 10,000 MWh. 
• The projects will be sanctioned during FY 2026-27 to FY 2030-31, with disbursement of financial support continuing up to FY 2032-33.
• Central Financial Assistance (CFA) of Rs. One crore per MW will be provided for eligible Floating Solar Photovoltaic projects after successful commissioning.
  • In addition, CFA of up to Rs.50 lakh per project will be available for undertaking feasibility studies.
• Significance:
  • The scheme would enhance the floating Solar PV capacity in the country by 5,000 MW, which is presently around 700 MW only. 
  • It would provide an opportunity to gainfully utilize existing reservoirs & industrial ponds, and eliminate competition for scarce land resources. 
  • The integration of an energy storage system will help strengthen grid reliability. 
  • The scheme would help in the reduction of around 10 million tonnes of CO₂ emissions annually. 
  • It would help in the generation of approximately 16,000–17,000 full-time equivalent employment opportunities.

Floating Solar Photovoltaic (FSPV)

• Also known as “floatovoltaics,” is a technology where solar panels are installed on buoyant structures floating on water bodies like reservoirs, lakes, and dams.

• Globally, floating solar reached about 9.6 GW by 2024, nearly 90% of it in Asia.
  • China leads, with installations such as a 120 MW plant on a fish farm in Poyang Lake.
  • The Netherlands accounts for roughly three-fourths of Europe’s capacity, built largely on quarry lakes.
• India’s flagship is the Omkareshwar floating solar park on the Narmada river in Madhya Pradesh — at 278 MW, the country’s largest, with plans to scale to 600 MW.

Source: PIB

Bloomberg Global Aggregate Bond Index

Syllabus: GS3/Economy

Context

• Bloomberg Index Services Ltd. (BISL) has once again deferred the inclusion of Indian government bonds in the Bloomberg Global Aggregate Bond Index.

About Bloomberg Global Aggregate Bond Index

• It is Bloomberg’s flagship global investment-grade bond index, tracking government, corporate and securitised bonds across developed and emerging markets. 
• It serves as a benchmark for global fixed-income investors and passive investment funds. 
• Countries included in the index generally attract larger foreign investments into their bond markets. 

Why has India’s inclusion been deferred?

• According to BISL:
  • India has made meaningful progress towards meeting global standards. 
  • However, investors want: wider implementation of automated trading systems; smoother account opening and onboarding for foreign investors; and greater evidence that recent reforms are functioning effectively in practice. 

Source: IE