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Daily Current Affairs – 29 July, 2026

    Role of Ethics & Emotions in World Politics 

    Context

  • Recent events in the geopolitics of West Asia, the Israel–Hamas conflict, and disputes around India’s strategic autonomy have reignited questions about whether IR is governed simply by national interest or also by ethics, emotions, and moral legitimacy.

    • About International Relations (IR): Beyond National Interest

  • Traditionally, the study of International Relations (IR) has been conceptualised as a field which is primarily concerned with issues of power, security and national interest.
  • Diplomacy is full of words like deterrence, balance of power, strategic autonomy and security.
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    CBDT Issues Crypto-Asset Reporting Guidance Aligned with OECD Framework

    Context

  • The Central Board of Direct Taxes has released a guidance note on crypto-asset reporting obligations, under the Income-tax Act, 2025, aligning India’s tax reporting framework with the Organisation for Economic Co-operation and Development’s (OECD) Crypto-Asset Reporting Framework (CARF).

    • Need for Guidance Note

  • The rapid growth of crypto-assets has made it easier to transfer and hold assets outside the traditional financial system, making tax evasion more difficult to detect.
  • Existing global tax reporting standards, such as the Common Reporting Standard (CRS), do not adequately cover crypto-assets.
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    The Next Frontier in India’s Innovation Strategy

    Context

  • India's rise in the Global Innovation Index must now be matched by stronger home-grown R&D, business sophistication, and emphasis on domestic intellectual property ownership.

    • About

  • Global Innovation Index (GII) is a metric of R&D output maintained by the World Intellectual Property Organization. 
  • India was ranked 81st globally in the GII 2015, and rose to 38th rank in 2025.
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    Space Tech Funding in India

    Context

  • According to the Tracxn Space Tech in India Report, India's space-tech startups raised a record $200 million in 2025, with Bengaluru accounting for 57% of the sector's total funding, reaffirming its position as India's leading space innovation hub.

    • Private Sector Powering India's Space Transformation

  • India’s space economy is currently valued at $8 billion with a share of 2–3% in the global space economy.
  • Companies such as Pixxel, Dhruva Space, Skyroot Aerospace, Agnikul Cosmos, and Bellatrix Aerospace have emerged as pioneers of a new space era.
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    Ecologically Sensitive Area (ESA) in the Western Ghats

    In News

  • The Centre has issued the seventh draft notification to notify 56,825.7 sq km of Western Ghats across Gujarat, Maharashtra, Goa, Karnataka, Kerala and Tamil Nadu as an Ecologically Sensitive Area (ESA).

    • Western Ghats 

  • They stretch along the western coast of the Indian peninsula, spanning six states – Gujarat, Maharashtra, Goa, Karnataka, Kerala, and Tamil Nadu. 
  • They are among the four of the world’s 36 biodiversity hotspots located in India.
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    News In Short 29-07-2026

    Context

  • The 650th birth anniversary year of Sant Guru Ravidas commenced on Guru Purnima.

    • About

  • Guru Ravidas was a 15th–16th century Bhakti saint, poet and social reformer, known for his message of equality, devotion and social justice. 
  • He is considered the founder of the Ravidassia religion.
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