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Education
National Scheme for ITI Upgradation — ₹60,000 Crore CSS
Union Cabinet approved the National Scheme for ITI Upgradation + 5 NCoEs for Skilling at ₹60,000 crore as a Centrally Sponsored Scheme (CSS) — targeting 2 million+ youth over 5 years. Simultaneous approvals: expansion of 5 new IITs (Tirupati, Palakkad, Bhilai, Jammu, Dharwad) and the Revised SHAKTI Policy for transparent coal allocation.
Business & Economy
India’s First Mortgage-Backed PTCs — 7.26% Coupon on NSE
India’s first Mortgage-Backed Pass Through Certificates (PTCs) listed on NSE: ₹1,000 crore (1 lakh certificates at ₹1 lakh each). Structured by RMBS Development Company, Mumbai; backed by LIC Housing Finance (LIC HFL) loans. Coupon: 7.26% per annum; ~20-year maturity; rated AAA(SO) by CRISIL and CARE. Coupon discovered via NSE’s EBP platform for the first time.
International
India–UK FTA — 99% Zero-Duty Access, USD 120 Billion Target
The India–UK Free Trade Agreement (announced by PM Modi + UK PM Keir Starmer) grants zero-duty access for 99% of Indian exports to the UK, covering ~100% of trade value. Current bilateral trade: USD 60 billion; FTA aims to double it to USD 120 billion by 2030. Includes a Double Contribution Convention to prevent double taxation for workers assigned between the two countries.
Digital Governance
India’s Chip-Based E-Passports — National Rollout May 2025
India’s chip-based e-passports use RFID chips with antenna inlays storing biometric data in encrypted form. Initially piloted on 1 April 2024 under Passport Seva Programme — Version 2.0 (PSP-V2.0). National rollout: May 2025. Enhances data integrity and makes forgery significantly harder. MEA: Union Minister S. Jaishankar (RS – Gujarat).
Sports
Rohit Sharma Retires from Test Cricket — Key Records
Rohit Sharma (age 38) retired from Test cricket on 7 May 2025. Test record: 67 Tests, 4,301 runs, avg 40.57, 12 centuries, 18 fifties. Highest Test score: 212 vs South Africa (2019). Captained India in 24 Tests (12 wins). Led India to ICC T20 WC 2024 and ICC Champions Trophy 2025 victories. World record ODI score: 264 vs Sri Lanka (2014).
Sports
Sudirman Cup 2025 — China’s Record 4th Consecutive Title
China won its 14th Sudirman Cup (19th edition, Xiamen) — a record 4th consecutive title, defeating South Korea 3-1. Japan 3rd; India finished 9th among 16 teams. All-time winners: China (14), South Korea (4), Indonesia (1). Established in 1989, named after Dick Sudirman, founder of the Badminton Association of Indonesia.
Defence
Paras Defence + HevenDrones — India’s First Hydrogen Drone JV
Paras Defence (Navi Mumbai) and Israel’s HevenDrones (US-based Heven subsidiary) formed India’s first JV for hydrogen-powered drone manufacturing under Make in India. Applications: logistics in remote/border areas, tactical surveillance, defence supply chains, high-altitude missions. HevenDrones: technology; Paras Defence: manufacturing and sales.
Climate
810 MW Solar Project — Pugal Solar Park, Bikaner (NIRL–RVUNL)
NLC India Renewables Limited (NIRL) signed a PPA with RVUNL (Rajasthan) for an 810 MW solar project at Pugal Solar Park, Bikaner — under MNRE’s UMREPP Scheme (Mode 8). Will generate 2 BU green electricity/year and offset ~1.5 MMT CO₂/year. NLCIL was the first CPSU to establish 1 GW of RE projects.
Business & Economy
TPG Acquires 35% of SCHOTT Poonawalla from Serum Institute
TPG Inc. (via TPG Growth) acquires 35% of SCHOTT Poonawalla Pvt. Ltd. from Serum Institute of India (SII, Pune). SCHOTT Pharma (Germany) retains 50%; SII holds minority stake. Co-investor: Novo Holdings A/S (Denmark). SII (est. 1966 by Dr. Cyrus Poonawalla) is the world’s largest vaccine manufacturer by volume.
Science & Health
World Thalassaemia Day — 8 May, TIF est. 1986
World Thalassaemia Day observed on 8 May annually. 2025 theme: ‘Together for Thalassaemia: Uniting Communities, Prioritizing Patients’; Slogans: WeAre1 & PatientsFirst. First observed 8 May 1994, established by Panos Englezos (TIF founder) in memory of his son. TIF: HQ Nicosia, Cyprus; Est 1986. Types: Alpha and Beta thalassaemia (Beta is more severe).
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Total outlay of National Scheme for ITI Upgradation and youth target?
₹60,000 crore — 2 million+ youth over 5 years
CSS; also approved 5 new IITs and Revised SHAKTI Policy on 7 May 2025
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Coupon rate and rating of India’s first Mortgage-Backed PTCs?
7.26% per annum — rated AAA(SO)
₹1,000 crore; backed by LIC HFL loans; listed on NSE; ~20-year maturity
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India–UK FTA: zero-duty for what % of Indian exports and bilateral trade target by 2030?
99% zero-duty — target USD 120 billion by 2030
Current trade: USD 60 bn; includes Double Contribution Convention (no double taxation)
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Under which programme were India’s e-passports first piloted?
Passport Seva Programme — Version 2.0 (PSP-V2.0)
Piloted 1 April 2024; RFID chip + antenna inlay; national rollout May 2025
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Rohit Sharma’s Test career stats at retirement?
67 Tests, 4,301 runs, 12 centuries, avg 40.57
Highest Test score: 212 vs SA; also holds ODI world record: 264 vs Sri Lanka (2014)
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How many consecutive Sudirman Cup titles has China won and what is their total tally?
4 consecutive — 14 titles total
19th edition, Xiamen 2025; beat South Korea 3-1; India finished 9th; est. 1989
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Which solar park hosts the 810 MW NIRL–RVUNL project?
Pugal Solar Park, Bikaner, Rajasthan
MNRE UMREPP Mode 8; 2 BU electricity/year; offsets ~1.5 MMT CO₂; NLCIL first CPSU at 1GW RE
Tap to Reveal
What is the World Thalassaemia Day 2025 theme and when is it observed?
‘Together for Thalassaemia: Uniting Communities, Prioritizing Patients’ — 8 May
First observed 8 May 1994; TIF est. 1986; HQ Nicosia, Cyprus; Beta type is more severe
Think & Discuss
India–UK FTA and ITI Upgradation: Can Trade Deals and Skill Development Work Together to Reshape India’s Export Economy?
Context from today’s quiz: Two landmark announcements converged this week — the India–UK FTA granting 99% zero-duty access for Indian exports (aiming to double bilateral trade to USD 120 billion by 2030) and the Cabinet’s ₹60,000 crore National Scheme for ITI Upgradation to skill 2 million+ youth. The FTA opens markets; the ITI scheme must produce the workforce to fill them.
🤔 Your Perspective Matters
India’s FTAs historically underperformed because domestic supply-side constraints — skill gaps, quality standards, logistics — prevented exporters from capitalising on preferential access. The ITI Upgradation Scheme addresses one of these gaps, but industrial training institutes have long struggled with outdated curricula, low social prestige, and poor placement rates. Meanwhile, the UK market demands high-value goods and services, not just labour-intensive manufacturing.
Will India’s ₹60,000 crore ITI upgradation investment be sufficient to equip the workforce needed to capture the export opportunities unlocked by the India–UK FTA — and if not, what structural reforms are still missing?
Will India’s ₹60,000 crore ITI upgradation investment be sufficient to equip the workforce needed to capture the export opportunities unlocked by the India–UK FTA — and if not, what structural reforms are still missing?
- Should India align ITI curricula directly with the top 10 export sectors gaining from the UK FTA (textiles, pharma, engineering goods, IT services) rather than maintaining a generalist skilling framework?
- The FTA’s Double Contribution Convention allows Indian workers to avoid double taxation in the UK — could this accelerate brain drain, and how should India structure return-migration incentives?
- India’s Mortgage-Backed PTC market could fund affordable housing — should the government link housing finance innovation directly to ITI expansion in Tier 2/3 cities to build a skilled workforce closer to manufacturing clusters?
We’d love to hear your thoughts! Share your perspective in the comments.
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