Daily Current Affairs

The Assam Government launched a Financial Assistance Scheme for Udasin Bhakats, inaugurated by Chief Minister Himanta Biswa Sarma in Guwahati.

Key Features:

• Celibate Vaishnavite monks associated with Satras will receive ₹1,500 per month as financial support
• The assistance amount will be directly credited to beneficiaries’ bank accounts
• The scheme was announced in the previous year’s state budget and has now been implemented

Prime Minister Narendra Modi inaugurated an international exhibition of the sacred Piprahwa relics of Gautama Buddha on 3 January 2026 at the Rai Pithora Cultural Complex, New Delhi. The exhibition is titled “The Light & the Lotus: Relics of the Awakened One.”

Historical Significance:

• The Piprahwa relics, discovered in 1898, are considered among the earliest physical relics directly associated with Gautama Buddha
• Archaeological evidence links Piprahwa to ancient Kapilavastu, traditionally believed to be the place where Buddha spent his early life before renunciation
• Piprahwa is located in the Siddharthnagar district of Uttar Pradesh

Exhibition Features:

• Brings together recently repatriated Piprahwa relics
• Authenticated relics and archaeological artefacts from the National Museum, New Delhi and the Indian Museum, Kolkata
• Divided into multiple thematic sections, including a reconstructed model inspired by the Sanchi Stupa
• Sections on Piprahwa’s history, Buddha’s life, core Buddhist teachings, and the spread of Buddhist art
• A dedicated segment on the repatriation of cultural artefacts

Assam became the first Indian state to constitute its 8th State Pay Commission for government employees, formed ahead of the expiry of the 7th Pay Commission on 1 January 2026.

Key Appointments & Details:

• Former Chief Secretary Subhas Das has been appointed as the Chairman of the newly constituted commission
• The announcement was made by Chief Minister Himanta Biswa Sarma
• At the time of this decision, no other state had constituted its 8th Pay Commission
• The Union Government is also planning a similar move

Implementation Timeline:

• The commission will be responsible for revising salaries and pensions of Assam government employees
• Economists point out that actual implementation generally takes time
• Experts estimate that the revised pay structure may be implemented in FY 2027-28 or FY 2028-29
• Typically, a pay commission is given around 18 months to submit its recommendations

The Central Government approved 22 new projects under the third tranche of the Electronics Components Manufacturing Scheme, involving a total projected investment of ₹41,863 crore.

Manufacturing Coverage:

• Mobile manufacturing
• Telecom equipment
• Consumer electronics
• Strategic electronics
• Automotive electronics
• IT hardware

Expected Outcomes:

• Production worth approximately ₹2.58 lakh crore
• Around 34,000 direct employment opportunities
• Make India Atmanirbhar (self-reliant) in the electronics components supply chain

Minister’s Vision:

Union Minister for Electronics and IT, Ashwini Vaishnaw, emphasised that the government’s approach is driven by major reforms and faster execution. He described 2026 as a landmark year, announcing that four semiconductor fabrication units are expected to begin commercial production during the year.

Industry Guidelines:

• Establish in-house design teams
• Contribute to a shared design ecosystem for electronics components
• Focus on local sourcing
• Maintain high-quality standards to remain globally competitive

India’s nominal GDP growth is projected to rise to around 11% in FY 2026-27 (FY27), with real GDP growth for FY27 estimated at 7.2%.

Growth Drivers (SBI Mutual Fund Report):

• Domestic credit-led consumption
• Continued policy support
• Structural reforms
• Rising premiumisation trends

Current Economic Snapshot (FY26):

• Real GDP growth averaged about 8% year-on-year during the first half
• Nominal growth stood at 8.8%
• Inflation is expected to mean-revert to around 4% in FY27

Monetary Policy & Liquidity Measures:

• The Reserve Bank of India (RBI) is likely to maintain a prolonged policy pause, unless global growth conditions deteriorate sharply
• Recent liquidity-support measures include:
  • A ₹2 trillion Open Market Operations (OMO) round
  • A $10 billion buy-sell swap conducted in mid-January

Fiscal Outlook:

• Government bond supply is expected to rise to about ₹29 trillion, keeping the demand-supply balance tight
• State-level deficits remain elevated

The government launched two key interventions under the initial rollout of the Export Promotion Mission to strengthen MSME exports and improve access to trade finance.

First Intervention: Interest Subvention

• Interest subvention for pre- and post-shipment export credit
• Aimed at reducing the cost of export finance
• Easing working-capital constraints for MSME exporters

Second Intervention: Collateral Support

• Collateral support for export credit
• Designed to address collateral-related challenges
• Enhance MSMEs’ access to bank financing

Mission Objectives:

• Improve India’s overall export competitiveness
• Special focus on:
  • MSMEs
  • First-time exporters
  • Labour-intensive sectors

Both interventions will be implemented on a pilot basis to assess effectiveness before broader rollout.

Two senior appointments were made in the Indian Air Force (IAF) on 1 January 2026, marking significant leadership transitions.

1. Air Marshal Nagesh Kapoor – Vice Chief of the Air Staff

• Assumed charge as the Vice Chief of the Air Staff (VCAS) of the Indian Air Force
• Succeeded Air Marshal Narmdeshwar Tiwari in this key leadership position
• Commissioned into the fighter stream of the IAF in December 1986

Key Contributions:

• Played a significant role in the induction of the PC-7 Mk II trainer aircraft
• Served as the Defence Attaché to Pakistan as part of a diplomatic assignment

Previous Postings:

• Air Defence Commander at the South Western Air Command
• Senior Air Staff Officer at the Central Air Command

2. Air Marshal Seethepalli Shrinivas – AOC-in-C, Training Command

• Took over as the Air Officer Commanding-in-Chief (AOC-in-C) of the Training Command of the Indian Air Force
• Commissioned into the fighter stream of the IAF in June 1987
• A Category ‘A’ Qualified Flying Instructor with over 4,200 hours of flying experience

Additional Qualifications:

• Qualified as a second pilot on Chetak and Cheetah helicopters
• Received training as an Operations Officer on the Pechora missile system

Honours Received:

• Vishisht Seva Medal (VSM)
• Ati Vishisht Seva Medal (AVSM)

The 11th India International Youth Sailing Championship 2026 will be held at Chennai Port from 4 January to 10 January 2026.

Launch Details:

• Officially launched in Chennai on 1 January 2026
• Recognised as India’s longest-running international youth sailing regatta
• The event is the Intellectual Property of the Tamil Nadu Sailing Association (TNSA)

Participation:

• A total of 117 young sailors have registered to participate
• Participants will represent 13 different countries
• The championship will feature five elite youth sailing classes

The Ministry of Ayush, Government of India, celebrated the 9th Siddha Day on 3 January 2026 at Kalaivanar Arangam, Chennai.

Organizing Partners:

• National Institute of Siddha (NIS)
• Central Council for Research in Siddha (CCRS)
• Directorate of Indian Medicine and Homoeopathy, Government of Tamil Nadu

Theme: “Siddha for Global Health”

Event Details:

• The 9th Siddha Day celebrations were to be presided over and inaugurated by the Vice President of India, Shri C. P. Radhakrishnan
• The event brings together Siddha practitioners, scientists, academicians, scholars, and students from Tamil Nadu and other states
• Highlights India’s traditional medicine system and its role in global health

3 January marks the birth anniversary of Savitribai Phule, a poet, social reformer, and widely recognised as the first female teacher of modern India.

Life Journey:

• Born on 3 January 1831 in Satara
• Passed away on 10 March 1897 in Pune
• Married to social reformer Jyotirao Phule at the age of 10

Pioneer in Women’s Education:

• Made pioneering contributions to women’s education and women’s rights in Maharashtra
• Established India’s first girls’ school at the residence of Tatyasaheb Bhide
• Actively worked against caste-based and gender-based discrimination

Key Contributions:

• First female teacher of modern India
• Established first girls’ school in India
• Fought against social discrimination
• Led women’s wing of Satyashodhak Samaj
• Championed women’s rights and education