IMPORTANT DAYS
World Wetlands Day 2025 celebrated on 2 February
• World Wetlands Day is celebrated annually on February 2nd.
• This date marks the adoption of the Convention on Wetlands in 1971.
• The theme for World Wetlands Day 2025 is "Protecting Wetlands for our Common Future."
• The day aims to raise awareness about the vital role of wetlands for both humans and the environment.
• Wetlands are areas that are either water-covered or water-saturated, including mangroves, deltas, floodplains, rice fields, and coral reefs.
SPORTS
India won the U19 Women's World Cup final by defeating South Africa.
• India defended their U19 Women's World Cup title by defeating South Africa by 9 wickets in the final in Kuala Lumpur, Malaysia.
• South Africa was restricted to just 82 runs in 20 overs by India’s bowlers.
• Trisha Gongadi’s stellar 44* off 33 balls, along with Sanika Chalke’s 26*, led India to a dominant victory.
• Trisha Gongadi shone as India’s star player throughout the tournament.
• She was named Player of the Match and Player of the Tournament for scoring 309 runs and taking 7 wickets.
• Trisha became the first U-19 player in Women’s T20 World Cup history to score a century.
INTERNATIONAL NEWS
Canada imposed 25% Tariffs against United States Goods.
• Canada announced a 25% tariff on C$155 billion ($106.5 billion) worth of U.S. goods, as stated by Prime Minister Justin Trudeau.
• Tariffs on C$30 billion will be implemented starting February 4, with the remaining C$125 billion affected in 21 days.
• This move follows an earlier decision by former President Trump to impose 25% tariffs on Canadian and Mexican goods, plus a 10% tariff on China.
• Energy imports from Canada, including oil, natural gas, and electricity, will be taxed at 10%.
• The U.S. imposed tariffs to curb the spread and production of fentanyl.
• In retaliation, Canada has placed tariffs on 1,256 U.S. products, representing 17% of all U.S. imports.
• Canada’s government is planning to take legal action under international law to challenge the U.S. tariffs.
• Mexico and Canada are the U.S.'s two biggest trading partners.
AWARDS
Sachin Tendulkar get BCCI Lifetime Achievement Award.
• Sachin Tendulkar was honoured with the BCCI Lifetime Achievement Award in Mumbai on February 1.
• The award was presented at the Board's annual gala event in Mumbai.
• Tendulkar becomes the 31st recipient of this prestigious award.
• The Lifetime Achievement Award was introduced in 1994 to honour India’s first captain, Col. C.K. Nayudu.
• Jasprit Bumrah was named the winner of the Polly Umrigar Award for the best International Cricketer (Men's category) for 2023-24.
• Smriti Mandhana was recognised as the best International Cricketer (Women's category) for 2023-24.
• Sarfaraz Khan was awarded the Best International Debut Award.
• Tanush Kotian received the award for Best Performance in the BCCI Domestic Trophy.
GOVERNMENT SCHEMES
Ministry of Railways has introduced the SuperApp ‘SwaRail’.
• The Ministry of Railways has launched the SuperApp ‘SwaRail’ as a one-stop solution for railway services.
• Currently in beta testing, the app is available for download on both Google Play Store and Apple App Store.
• ‘SwaRail’ offers a seamless, user-friendly interface to improve the overall user experience.
• The app integrates various railway services, eliminating the need for multiple apps.
• Developed by the Centre for Railway Information Systems (CRIS), the app allows users to access all services with one set of credentials.
• Users can log in using their existing RailConnect or UTS App credentials.
• This initiative marks a significant step in enhancing convenience through technology for railway users.
BANKING, ECONOMY AND FINANCE
Government target Fiscal Deficit of 4.4% of GDP.
• The government has set a fiscal deficit target of 4.4% of GDP for FY2025-26, down from 4.8% in FY2024-25.
• Net market borrowing for FY2025-26 is targeted at ₹11.54 crore, with the remainder raised through small savings schemes.
• The gross borrowing target for FY2025-26 has been increased by 5.7%, reaching ₹14.82 lakh crore.
• The government expects gross tax revenue for FY2025-26 to be ₹38.40 lakh crore, an 11.72% increase from FY2024.
• Net tax receipts are estimated at ₹28.37 lakh crore.
• Total receipts (excluding borrowings) are projected at ₹34.96 lakh crore, while total expenditure is estimated at ₹50.65 lakh crore.
The Union Budget for FY2025-26 has allocated ₹6.8 lakh crore for defence.
• ₹6.8 lakh crore has been allocated for defence in the Union Budget for FY2025-26.
• Of this, ₹1.8 lakh crore is earmarked for military modernisation.
• The defence budget for FY2025-26 is 9.5% higher than the ₹6.22 lakh crore allocated in FY2024-25.
• Compared to last year’s revised estimates of ₹6.41 lakh crore, the allocation sees a 6% increase.
• 75% of the modernisation funds will be spent on purchasing weapons and equipment from domestic sources.
• The government plans to allocate ₹1.48 lakh crore of the ₹1.8 lakh crore to capital acquisition for modernisation.
• The remaining funds will go towards research and development in capital expenditure.
• ₹27,886.21 crore is allocated for procurement from domestic private industries.
• The Border Roads Organisation receives ₹7,146.50 crore, while DRDO is allocated ₹26,816.82 crore.