IMPORTANT DAYS

9th Siddha Day Celebrations Highlight Traditional Medicine

• The Ministry of Ayush marked the 9th Siddha Day on 3 January 2026 at Kalaivanar Arangam, Chennai.

• The event was organised jointly with the National Institute of Siddha (NIS), Central Council for Research in Siddha (CCRS) and the Tamil Nadu Directorate of Indian Medicine and Homoeopathy.

• Celebrations were held under the theme “Siddha for Global Health,” showcasing the system’s wider relevance.

• The occasion commemorated Sage Agathiyar, revered as the founder of Siddha medicine, whose birth anniversary is traditionally observed on 6 January.

• Presided over and inaugurated by Vice President Shri C. P. Radhakrishnan, the event brought together Siddha practitioners, researchers, academicians, scholars and students from Tamil Nadu and other states.

Birth Anniversary of Rani Velu Nachiyar (3 January)

• 3 January marks the birth anniversary of Rani Velu Nachiyar, recognised as India’s first woman freedom fighter.

• Popularly called “Veeramangai” (the brave woman), she was born on 3 January 1730.

• She ruled the Sivaganga estate, a permanently settled zamindari in the Ramnad region of the Madras Presidency.

• Rani Velu Nachiyar made history as the first Indian queen to take up arms against the East India Company.

• She continues to be revered in Tamil history and culture for her courage and leadership.

INTERNATIONAL NEWS

US–Venezuela Crisis: Air Strikes and Political Uncertainty

• The United States conducted a major military strike on Venezuela in the early hours of 3 January, causing explosions across Caracas and triggering power outages in several areas.

• Loud blasts, low-flying aircraft, and smoke near defence installations were reported, with parts of the city affected though normal movement continued in some zones.

• US President Donald Trump claimed that President Nicolás Maduro and his wife were captured and taken out of the country, a statement that has deepened uncertainty over Venezuela’s leadership.

• The announcement was made via Truth Social, with Trump stating the operation was successful and that more details would be shared later.

• Following the strike, the US Federal Aviation Administration (FAA) suspended all US flights over Venezuelan airspace due to ongoing military activity.

• Venezuela condemned the action as an attack on civilian and military infrastructure, declared a state of external emergency, and activated national defence measures.

• Caracas is Venezuela’s capital, the US has accused Maduro of narco-terrorism, the FAA can restrict airspace during conflicts, and emergency laws in Venezuela allow temporary suspension of certain civil rights.

NATIONAL NEWS

India’s First Government Hospital-Based AI Clinic Launched

• India has inaugurated its first AI clinic within a government hospital at the Government Institute of Medical Sciences (GIMS), Greater Noida.

• The facility was virtually inaugurated by the Additional Director General of Health Services, Government of India.

• It operates under the GIMS Centre for Medical Innovation, marking a shift towards technology-enabled public healthcare.

• The clinic offers a live clinical environment for AI healthcare startups to develop, test and validate solutions.

• Its aim is to bridge innovation with real-world medical practice, improving efficiency, safety and patient outcomes.

• The initiative has been developed in collaboration with IIT Kanpur, IIT Madras and IIIT Lucknow.

• Medical imaging, clinical decision support systems and data-driven healthcare tools are the key focus areas of the AI clinic.

International Exhibition on Sacred Piprahwa Relics of Gautama Buddha

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

• The exhibition showcases the repatriated Piprahwa relics, displayed alongside authenticated artefacts from the National Museum, New Delhi, and the Indian Museum, Kolkata.

• Discovered in 1898, the Piprahwa relics are among the earliest physical remains directly associated with Gautama Buddha, with archaeological links to ancient Kapilavastu.

• Through thematic galleries, the exposition presents Buddha’s life and teachings, the spread of Buddhist art, Piprahwa’s historical importance, and a Sanchi stupa–inspired reconstruction.

• Located in Siddharthnagar district of Uttar Pradesh, Piprahwa reflects India’s deep civilisational ties with Buddhism, reinforced by the successful repatriation of relics through coordinated government and institutional efforts.

SPORTS

11th India International Youth Sailing Championship 2026

• The 11th edition of the India International Youth Sailing Championship will be hosted at Chennai Port.

• The regatta is scheduled from 4 to 10 January 2026, bringing a week of competitive sailing.

• The event was formally launched in Chennai on 1 January ahead of the races.

• It is recognised as India’s longest-running international youth sailing competition.

• 117 young sailors have enrolled to compete in the championship.

• Participants will represent 13 different countries, highlighting its global reach.

• The competition will feature five top-level youth sailing classes and is the intellectual property of the Tamil Nadu Sailing Association (TNSA).

ECONOMY NEWS

India’s Economic Outlook: Growth, Inflation and Fiscal Trends

• India’s nominal GDP growth is projected to touch nearly 11% in FY27, while real GDP expansion is estimated at about 7.2%.

• According to an SBI Mutual Fund assessment, stronger growth will be supported by credit-driven domestic consumption and continued policy backing.

• The medium-term outlook remains positive, aided by structural reforms and rising demand for premium goods and services.

• Global slowdown and geopolitical uncertainties have been flagged as the main downside risks to India’s growth momentum.

• During FY26, real GDP growth averaged close to 8% in the first half, whereas nominal growth stood around 8.8%.

• Inflation is expected to stabilise near 4% in FY27, aligning with the central bank’s comfort zone.

• The RBI is likely to keep interest rates unchanged for an extended period, unless global economic conditions deteriorate sharply, supported by liquidity steps like ₹2 trillion OMOs and a $10 billion forex swap.

• On the fiscal front, the central government deficit is expected to narrow from 4.4% of GDP in FY26 to 4.2% in FY27, even as bond issuances may rise to about ₹29 trillion, keeping markets tight.

GOVERNMENT SCHEMES

Export Promotion Mission: Government Push to Boost MSME Exports

• The government has begun the initial rollout of the Export Promotion Mission with two focused support measures.

• These steps are designed to strengthen MSME exports and improve their access to trade-related finance.

• One measure provides interest support on pre-shipment and post-shipment export credit, lowering borrowing costs.

• This support helps MSME exporters manage working capital pressures during the export cycle.

• The second measure offers collateral assistance for export loans, easing bank financing challenges.

• Both interventions will be implemented on a pilot basis before wider expansion.

• The Export Promotion Mission was approved by the Union Cabinet in November 2025 with a large financial commitment.

• With an outlay of over ₹25,000 crore for 2025–26 to 2030–31, the mission targets export competitiveness, with special focus on MSMEs, first-time exporters, and labour-intensive sectors.