{"id":36639,"date":"2025-02-01T19:53:15","date_gmt":"2025-02-01T14:23:15","guid":{"rendered":"https:\/\/www.nextias.com\/ca\/?p=36639"},"modified":"2025-08-05T15:09:51","modified_gmt":"2025-08-05T09:39:51","slug":"news-in-short-1-february-2025","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/01-02-2025\/news-in-short-1-february-2025","title":{"rendered":"News In Short 1-2-2025"},"content":{"rendered":"\n<h2 class=\"wp-block-heading has-text-align-center\"><strong>Budget Session<\/strong><\/h2>\n\n\n\n<p><strong>Syllabus: GS3\/Economy<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Context<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The budget session of the Parliament began on 31st January with President Droupadi Murmu addressing the joint sitting of the two Houses.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>About<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Budget Session will be held from <strong>January 31 to April 4 in two phases.&nbsp;<\/strong>\n<ul class=\"wp-block-list\">\n<li>The first part of the Session will end on February 13 and the second phase will begin on March 10.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>FM Nirmala Sitharaman holds the record of <strong>presenting the most budget in a row\u2014 eight budgets.<\/strong><\/li>\n\n\n\n<li>India does not have a fixed parliamentary calendar. By convention, <strong>Parliament meets for three sessions in a year.&nbsp;<\/strong>\n<ul class=\"wp-block-list\">\n<li><strong>The longest, the Budget Session,<\/strong> starts towards the end of January, and concludes by the end of April or first week of May.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Union Budget<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Union Budget of India is referred to as the <strong>annual Financial Statement in Article 112<\/strong> of the Constitution, presented each year by the Finance Minister.\n<ul class=\"wp-block-list\">\n<li>It outlines the government\u2019s expected income and spending for the coming year.&nbsp;<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>The budget has to be <strong>passed by the House<\/strong> before it can come into effect on April 1, the start of India&#8217;s financial year.<\/li>\n\n\n\n<li>After being presented separately for 92 years, the Railway budget was merged in the Union Budget in <strong>2017 <\/strong>and presented together on the recommendation of the <strong>Bibek Debroy Committee.<\/strong><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-background\" style=\"background-color:#fff2cc\"><tbody><tr><td><strong>Facts Related to Union Budget<\/strong><br>&#8211; <strong>The first-ever Union Budget<\/strong> of independent India was presented on November 26, 1947, first finance minister <strong>R.K. Shanmukham Chetty.<\/strong><br>&#8211; Former Prime Minister <strong>Morarji Desai<\/strong> holds the record for presenting the most budgets.<br>1. He has presented a total of 10 budgets during his tenure as finance minister.<br>&#8211; In 2019, <strong>Nirmala Sitharaman became the second woman<\/strong> to have presented the budget after Indira Gandhi<strong>.<\/strong><br>1. She was appointed as <strong>India&#8217;s first full-time woman finance minister.<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Source: <\/strong><a href=\"https:\/\/www.thehindu.com\/news\/national\/parliament-budget-session-day-1-live-updates-january-31-2025-nirmala-sitharaman-president-murmu-economic-survey\/article69162258.ece\" target=\"_blank\" rel=\"noopener\"><strong>TH<\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\"><strong>Onchocerciasis<\/strong><\/h2>\n\n\n\n<p><strong>Syllabus: GS2\/ Health<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>In News<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The World Health Organization (WHO) declared <strong>Niger the first African nation<\/strong> to eliminate <strong>onchocerciasis (river blindness) <\/strong>as a public health threat.<\/li>\n\n\n\n<li>As of now, WHO has verified <strong>five countries as onchocerciasis-free<\/strong>: Colombia (2013), Ecuador (2014), Mexico (2015), Guatemala (2016), and Niger (2025)\u2014the first in Africa.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>About<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Onchocerciasis<\/strong>, commonly known as river blindness, is a neglected tropical disease (NTD) caused by the parasitic worm <strong>Onchocerca volvulus<\/strong>.<\/li>\n\n\n\n<li>It is transmitted through the bite of infected<strong> black flies (Simulium species).<\/strong><\/li>\n\n\n\n<li><strong>Symptoms are <\/strong>severe itching, rashes, and skin discoloration.<\/li>\n\n\n\n<li>In 1987, the introduction of <strong>Ivermectin (Mectizan)<\/strong>, donated by Merck &amp; Co., is a game-changing treatment.<\/li>\n<\/ul>\n\n\n\n<p><strong>Source:&nbsp; DTE<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\"><strong>US FDA Approves Suzetrigne<\/strong><\/h2>\n\n\n\n<p><strong>Syllabus: GS2\/ Health<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>In News<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The approval of Suzetrigine as a <strong>non-opioid painkiller<\/strong> by the US FDA marks a significant breakthrough in pain management, especially amid the <strong>ongoing opioid crisis in the United States.<\/strong><\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What is Suzetrigine?<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A non-opioid painkiller developed by Vertex Pharmaceuticals and sold under the brand name Journavx.<\/li>\n\n\n\n<li>Unlike opioids, which act on the brain\u2019s opioid receptors, Suzetrigine blocks pain signals before they reach the brain, reducing the risk of addiction.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Why is this important?<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The US has been grappling with an opioid epidemic, with 82,000 opioid-related overdose deaths in 2022. Suzetrigine offers an alternative to opioid-based pain relief without the risk of dependence or euphoria.<\/li>\n<\/ul>\n\n\n\n<p>Source: IE<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\"><strong>Financialisation<\/strong><\/h2>\n\n\n\n<p><strong>Syllabus: GS3\/Economy<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Context<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Economic Survey 2024-25, has warned that <strong>excessive financialisation can hurt the real economy.<\/strong><\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>About<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>It has mentioned financialisation that has resulted in <strong>unprecedented levels of public- and private-sector debt in developed economies.<\/strong><\/li>\n\n\n\n<li>India should strive to maintain a <strong>fine balance between financial-sector development and growth,<\/strong> on the one hand, and financialisation, on the other.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Financialization<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>It is the increase in <strong>size and importance of a country&#8217;s financial sector<\/strong> relative to its overall economy.\n<ul class=\"wp-block-list\">\n<li>Financial markets, financial institutions and financial elites gain greater influence over economic policy and economic outcomes.&nbsp;<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>This shift typically includes practices like <strong>businesses focusing more on financial strategies<\/strong> (like stock buybacks, mergers, and acquisitions) rather than investing in their core products or services.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Impact on Economy<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Short-Term Profit Focus:<\/strong> Companies prioritize shareholder value (e.g., stock buybacks) over long-term investments in growth.<\/li>\n\n\n\n<li><strong>Wealth Inequality: <\/strong>Wealthier individuals benefit more from financial assets, widening the income gap.<\/li>\n\n\n\n<li><strong>Losses to Industries:<\/strong> Financial priorities can lead to job losses in manufacturing and traditional sectors.<\/li>\n\n\n\n<li><strong>Greater Influence of Financial Institutions:<\/strong> Financial institutions gain more power, potentially shaping policies that benefit investors over workers.<\/li>\n<\/ul>\n\n\n\n<p><strong>Source: <\/strong><a href=\"https:\/\/www.thehindu.com\/business\/budget\/excessive-financialisation-can-hurt-the-economy-says-economic-survey\/article69163692.ece\" target=\"_blank\" rel=\"noopener\"><strong>TH<\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\"><strong>Kisan Credit Card Interest Subvention Scheme<\/strong><\/h2>\n\n\n\n<p><strong>Syllabus: GS3\/ Agriculture<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>In News<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>In a major step to enhance financial accessibility for farmers, the loan limit under the <strong>Kisan Credit Card (KCC) scheme<\/strong> has been increased from \u20b93 lakh to \u20b95 lakh under the <strong>Modified Interest Subvention (MIS) Scheme<\/strong>.&nbsp;<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>About Kisan Credit Card (KCC) Scheme<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>About: Introduced in 1998 <\/strong>by the<strong> National Bank for Agriculture and Rural Development (NABARD) <\/strong>for uniform credit access across banks.\n<ul class=\"wp-block-list\">\n<li><strong>Extended in 2004 <\/strong>to cover investment credit for allied and non-farm activities such as: Dairy farming, Poultry, Fisheries, Sericulture, Beekeeping.<\/li>\n\n\n\n<li>In 2012 under the <strong>T.M. Bhasin Committee<\/strong> simplified the scheme and introduced <strong>Electronic Kisan Credit Cards (e-KCC).<\/strong><\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Objectives: <\/strong>Short-term credit for cultivation of crops.\n<ul class=\"wp-block-list\">\n<li>Post-harvest expenses to store, process, and transport produce.<\/li>\n\n\n\n<li>Produce marketing loans to help farmers sell crops at favorable prices.<\/li>\n\n\n\n<li>Consumption needs of farmer households.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Applicability:<\/strong> Commercial Banks, <a href=\"https:\/\/www.nextias.com\/ca\/current-affairs\/02-08-2022\/regional-rural-banks-rrbs\" data-type=\"link\" data-id=\"https:\/\/www.nextias.com\/ca\/current-affairs\/02-08-2022\/regional-rural-banks-rrbs\">Regional Rural Banks (RRBs)<\/a>, Small Finance Banks and Cooperative Banks.<\/li>\n\n\n\n<li><strong>Eligibility for KCC: <\/strong>Individual\/joint borrowers who are owner-cultivators, Tenant farmers, oral lessees, and sharecroppers,&nbsp; Self-Help Groups (SHGs) and Joint Liability Groups (JLGs) of tenant farmers and sharecroppers.<\/li>\n<\/ul>\n\n\n\n<p>Source: TH<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\"><strong>Increase in India\u2019s Tiger Territory<\/strong><\/h2>\n\n\n\n<p><strong>Syllabus: GS3\/Environment and Conservation<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Context<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A new study in Science has found that <strong>India&#8217;s tiger territory has increased by 30% between 2006-2018.<\/strong><\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>About<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>India&#8217;s tiger territory has increased <\/strong>even in areas marked as the <strong>world&#8217;s most densely populated<\/strong> human settlements setting an example of <strong>wildlife-human cooccurrence.<\/strong><\/li>\n\n\n\n<li>This comes amid a global wildlife population <strong>declining by 73%.&nbsp;<\/strong><\/li>\n\n\n\n<li>The study identifies several areas for potential future expansion of tiger populations, particularly in <strong>Chhattisgarh, Odisha and Jharkhand.<\/strong><\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Tiger\u2019s Population in India<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Largest Tiger Population: <\/strong>India now hosts the world&#8217;s largest tiger population, despite having the highest human density and just 18% of global tiger habitat.\n<ul class=\"wp-block-list\">\n<li>In just over a decade, India has doubled its tiger population to more than 3,600, accounting for <strong>75% of the world&#8217;s tigers.<\/strong><\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>State-wise:<\/strong> The largest tiger population of <strong>785 is in Madhya Pradesh,<\/strong> followed by Karnataka (563) &amp; Uttarakhand (560), and Maharashtra (444).<\/li>\n\n\n\n<li><strong>Population in reserves:<\/strong> The tiger abundance within the Tiger Reserve is <strong>highest in Corbett (260),<\/strong> followed by Bandipur (150), Nagarhole (141), Bandhavgarh (135), Dudhwa (135), Mudumalai (114), Kanha (105), Kaziranga (104), Sundarbans (100), Tadoba (97), Sathyamangalam (85), and Pench-MP (77).<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-background\" style=\"background-color:#ebecf0\"><tbody><tr><td><strong>About Tiger<\/strong><br>&#8211; <strong>Scientific Name: <\/strong>Panthera tigris<br>&#8211; <strong>Common Name:<\/strong> Bengal Tiger<br>&#8211; <strong>Habitat and Distribution: <\/strong>Tigers are widely distributed from the Himalayas to the rainforests of southern Western Ghats and from the dry forests of Rajasthan to the moist forests of north-east India.<br>&#8211; <strong>Conservation Status:<\/strong> Endangered<br>&#8211; <strong>Threats:<\/strong>&nbsp;<br>1. Habitat and loss of prey species<br>2.Hunting, poaching, and illegal trade<br>3. Conflict with humans<br><br><img loading=\"lazy\" decoding=\"async\" alt=\"Bengal Tiger\" width=\"313\" height=\"176\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXcdn10QIOlF-r2oy_Dw9_ox-A-AgNBmJ8hK8TYQp9inhIKXctyVRUctJNp-QECX13qvGdnd2H6DAwIi36UrEfy7W299QENVE1WJrg1hfwgLnsQzKv10pOsfLYYKTsvdPizblAmm?key=qzOJntLLJPrZfTN7oKCyFQsx\"><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Source: <\/strong><a href=\"https:\/\/timesofindia.indiatimes.com\/city\/bengaluru\/indias-tiger-territory-up-30-between-06-18-study\/articleshow\/117815245.cms\" rel=\"nofollow noopener\" target=\"_blank\"><strong>TOI<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The budget session of the Parliament began on 31st January with President Droupadi Murmu addressing the joint sitting of the two Houses.<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-36639","post","type-post","status-publish","format-standard","hentry","category-current-affairs"],"acf":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/36639","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=36639"}],"version-history":[{"count":3,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/36639\/revisions"}],"predecessor-version":[{"id":50406,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/36639\/revisions\/50406"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=36639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=36639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=36639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}