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📝 Revision Notes
Key takeaways from today’s quiz to strengthen your preparation
Agriculture
PM-KISAN Scheme
PM-KISAN provides ₹6,000 annual assistance to farmer families in three installments, implemented by the Ministry of Agriculture & Farmers Welfare. Funds are transferred through Direct Benefit Transfer (DBT), eliminating intermediaries and ensuring timely payments.
International Relations
G7 Summit 2025
Italy hosted the G7 Summit 2025, bringing together leaders from the world’s seven largest advanced economies. The summit addressed global challenges including economic recovery, climate change, security issues, and development financing.
Employee Welfare
Unified Pension Scheme
The Unified Pension Scheme assures 50% of last drawn salary as pension for Central government employees. This addresses concerns about NPS market-linked uncertainties and represents a balance between old and new pension systems.
Economy
WPI Inflation Deflation
India’s WPI inflation in May 2025 was –0.79%, indicating deflation at wholesale level. Negative WPI reflects falling prices of manufactured goods, fuel, and raw materials, suggesting weak demand conditions and reduced input costs.
Space Technology
ISRO’s RLV-LEX
ISRO’s RLV-LEX (Reusable Launch Vehicle) tests autonomous landing capabilities, mainly important for reducing launch costs. Success in reusable technology will cut space access costs by up to 10 times, making launches economically competitive.
Digital Governance
Direct Benefit Transfer
PM-KISAN’s DBT mechanism deposits money directly into farmers’ bank accounts, eliminating intermediaries and reducing corruption. This digital payment method ensures transparency, timely payments, and exemplifies technology-enabled welfare delivery.
Fiscal Policy
Pension System Balance
The Unified Pension Scheme represents a middle path between defined benefit (Old Pension) and defined contribution (NPS) systems. It addresses employee security concerns while managing fiscal implications of pension obligations for government finances.
Price Indicators
Understanding WPI Deflation
Negative WPI (wholesale deflation) indicates falling producer prices, which may eventually benefit consumers through lower retail prices. However, it can also signal weak demand, reduced business margins, and potential economic slowdown concerns.
Sports
Paavo Nurmi Games
The Paavo Nurmi Games are held in Finland, named after the legendary Finnish long-distance runner who dominated 1920s athletics. This prestigious international athletics meeting celebrates Finland’s rich athletics heritage and attracts world-class athletes.
Commercial Space
Reusability Economics
Reusable launch vehicles can dramatically reduce space access costs by launching, returning, and reusing spacecraft multiple times. This technology is crucial for India’s commercial space ambitions and global competitiveness in the satellite launch market.
🎴 Revision Flashcards
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PM-KISAN annual assistance amount?
₹6,000
Three installments of ₹2,000 each
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Which country hosted G7 Summit 2025?
Italy
Largest advanced economies meeting
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Unified Pension Scheme salary percentage?
50% of last drawn salary
For central govt employees
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India’s WPI inflation in May 2025?
–0.79%
Negative indicates deflation
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RLV-LEX is related to?
Reusable launch vehicle
ISRO cost reduction technology
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PM-KISAN implementing ministry?
Ministry of Agriculture & Farmers Welfare
Farmer support programs
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PM-KISAN fund transfer method?
Direct Benefit Transfer (DBT)
Direct to bank accounts
Tap to Reveal
Where are Paavo Nurmi Games held?
Finland
Named after Finnish runner
Think & Discuss
Pension Promises: Fiscal Responsibility or Populist Politics?
Context from today’s quiz: The Unified Pension Scheme assures 50% of last drawn salary for Central government employees, representing a shift back toward defined benefit pensions after the market-linked New Pension Scheme. This comes amid employee demands for pension security and concerns about government fiscal sustainability, highlighting tensions between welfare commitments and long-term budget implications.
🤔 Your Perspective Matters
As India reintroduces assured pension benefits through the Unified Pension Scheme after moving to market-linked NPS, is this a responsible policy responding to legitimate employee concerns about retirement security, or fiscally irresponsible populism that saddles future taxpayers with unsustainable pension liabilities similar to what forced the original pension reform, potentially creating fiscal crises when these obligations come due decades later?
Should governments prioritize immediate employee satisfaction and defined benefit security even if actuarial projections show these commitments becoming fiscally unsustainable, or insist on market-linked pensions despite employee concerns, accepting short-term discontent to prevent long-term fiscal disasters that could jeopardize all government services when pension bills explode?
Should governments prioritize immediate employee satisfaction and defined benefit security even if actuarial projections show these commitments becoming fiscally unsustainable, or insist on market-linked pensions despite employee concerns, accepting short-term discontent to prevent long-term fiscal disasters that could jeopardize all government services when pension bills explode?
- If assured pensions are fiscally sustainable for current employees, why were they discontinued in 2004, and what has changed to make them viable now—or are we simply repeating past mistakes by promising benefits we cannot afford long-term?
- Should employees accept market risks in their retirement planning like private sector workers do, or does government employment justify special pension privileges that insulate workers from market volatility at taxpayer expense?
- When pension commitments conflict with other public spending priorities (infrastructure, education, healthcare), who decides the trade-offs, and how should governments balance obligations to retired employees against needs of current citizens and future generations?
We’d love to hear your thoughts! Share your perspective in the comments.
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