14 August 2025 Current Affairs (With PDF)

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Lok Sabha Passes Indian Ports Bill, 2025

Why in News

The Lok Sabha has approved the Indian Ports Bill, 2025, which seeks to replace the over-century-old Indian Ports Act, 1908. The Bill aims to modernise and consolidate the legal framework governing ports in India, enhancing efficiency, governance, and compliance with global maritime standards.

Key Highlights of the Bill

1. Institutional Framework

a. Maritime State Development Council (MSDC):

• Established by the Central Government.
• Union Minister for Ports, Shipping and Waterways serves as the ex-officio Chairperson.

b. Statutory Recognition to State Maritime Boards:

• Constituted by State Governments to manage and administer non-major ports effectively.

2. Dispute Resolution Mechanism

Dispute Resolution Committees (DRCs):

• Mandated for adjudicating disputes involving non-major ports.
• Appeals to be filed before the respective High Courts.
• Jurisdictional Bar: Civil courts prohibited from handling matters under DRC.

3. Port Tariff Regulation

• Major Ports: Tariff determined by the Board of Major Port Authority or Board of Directors (for ports under the Companies Act, 2013).
• Non-Major Ports: Tariff set by the respective State Maritime Boards.

4. Port Development and Classification

• New Port Notification & Port Limit Alteration: Done by the Central Government in consultation with State Governments.
• Mega Ports: Central Government, with State consultation, empowered to set criteria for classification of ports as mega ports.

5. Environmental & Safety Compliance

Aligns with international conventions, including:

• MARPOL – International Convention for the Prevention of Pollution from Ships.
• Ballast Water Management Convention – Controls the transfer of harmful aquatic organisms through ships’ ballast water.

Ports in India - Overview

1. Major Ports:

• Total: 13.
• Governed by the Major Port Authorities Act, 2021.
• Under administrative control of the Ministry of Ports, Shipping and Waterways.

2. Non-Major Ports:

• Total: 213.
• Managed by respective State Maritime Boards or State Governments.

Union Government Tightens OCI Card Rules for Serious Offences

Why in News

The Union Ministry of Home Affairs (MHA) has issued a notification under Section 7D of the Citizenship Act, 1955, introducing stricter provisions for the cancellation of Overseas Citizen of India (OCI) registration in cases involving serious criminal charges or convictions.

Key Highlights of the Notification

Grounds for Revocation of OCI Registration:

• If an OCI cardholder is sentenced to a prison term of at least two years.
• If a charge sheet is filed against them for an offence carrying a sentence of seven years or more.

About OCI Cards

1. Introduction:

• Launched in 2005 via an amendment to the Citizenship Act, 1955.
• In 2015, the Person of Indian Origin (PIO) scheme was merged into the OCI scheme, with all PIO cardholders deemed OCI cardholders.

2. Nature of OCI:

• Does not amount to dual citizenship.
• No political rights are granted.

3. Grounds for Cancellation (as per Section 7D):

• Registration obtained through fraud or misrepresentation.
• Acts of disaffection towards the Constitution of India.
• Actions prejudicial to sovereignty, integrity, security, or public interest.
• Hostile conduct affecting India’s foreign relations.

Benefits for OCI Cardholders

• Visa Privileges: Multiple-entry, multipurpose, lifelong visa for visiting India.
• Exemption from Registration: No requirement to register with the FRRO/FRO irrespective of the length of stay.
• Parity with NRIs: Equal treatment in most economic, financial, and educational fields, except in the acquisition of agricultural or plantation properties.

Eligibility for OCI Registration

1. A foreign national is eligible if they:

• Were citizens of India on 26 January 1950 or thereafter.
• Were eligible to become Indian citizens on 26 January 1950.
• Belonged to a territory that became part of India after 15 August 1947.
• Are children, grandchildren, or great-grandchildren of such citizens.
• Are minor children with both or one parent as an Indian citizen.
• Are spouses of Indian citizens or OCI cardholders, with a registered marriage of at least two years.

2. Exception:

• Individuals who are or have been citizens of Pakistan, Bangladesh, or any other country notified by the Government are ineligible.

IBC (Amendment) Bill, 2025 Referred to Select Committee of Parliament

Why in News

The Insolvency and Bankruptcy Code (Amendment) Bill, 2025 has been referred to a Select Committee of Parliament for detailed examination. The Bill seeks to reduce delays in insolvency proceedings, improve value realisation for stakeholders, and incorporate global best practices in the resolution process.

Key Highlights of the Bill

1. Expediting Resolution and Reducing Delays

a. Mandatory NCLT Timelines:

• National Company Law Tribunal (NCLT) must admit insolvency applications within 14 days.
• Approval of resolution plans to be completed within 30 days.

b. Out-of-Court Creditor-Initiated Resolution:

• Enables faster, cost-effective insolvency resolution with minimal business disruption.
• Reduces burden on judicial institutions.

2. Maximising Value & Protecting Stakeholder Interests

Restoration of Corporate Insolvency Resolution Process (CIRP), NCLT empowered to restore CIRP once in exceptional cases, if:

• No resolution plan is approved, or
• A plan is rejected, upon request from the Committee of Creditors (CoC).

3. Enhancing Governance & Compliance

a. Group Insolvency Framework:

• Voluntary mechanism for joint resolution of financially distressed entities within a domestic corporate group, considering their interlinked operations.

b. Cross-Border Insolvency Framework:

• Establishes a basic framework for creditors to access overseas assets of stressed companies.
• Brings Indian law closer to international insolvency standards.

c. Clean Slate Principle Reinforcement:

• Explicitly states that once a resolution plan is approved, all claims against the corporate debtor are extinguished unless otherwise specified in the plan.

About the Insolvency and Bankruptcy Code (IBC), 2016

1. Nature:

• Comprehensive legislation for insolvency resolution covering both corporate entities and individuals.

2. Objectives:

• Addresses market imperfections and information asymmetries.
• Provides a freedom-to-exit framework for businesses and entrepreneurs.

3. Key Reform:

• Replaced the “debtor-in-possession” model with a “creditor-in-control” system for insolvency resolution.

Cabinet Clears Four New Semiconductor Projects under ISM

Why in News

The Union Cabinet has approved four additional semiconductor projects under the India Semiconductor Mission (ISM). These projects will be set up in Odisha, Punjab, and Andhra Pradesh, raising the total sanctioned projects under ISM to 10 across 6 states.

About India Semiconductor Mission (ISM)

• Launch Year: 2021
• Total Outlay: ₹76,000 crore
• Nodal Ministry: Ministry of Electronics and Information Technology (MeitY)
• Primary Objective: Strengthen India’s position in the global electronics value chain by providing financial incentives for semiconductor manufacturing, display fabrication, and chip design.

Mission Objectives

1. Infrastructure Development

• Establish semiconductor fabrication plants (fabs) in India.
• Create advanced packaging and testing facilities.

2. Innovation & Entrepreneurship

• Support startups and MSMEs engaged in semiconductor design.
• Encourage R&D-led product development.

3. Skilling & Capacity Building

• Train young engineers and create a skilled semiconductor workforce.

4. Global Investment Promotion

• Attract leading global semiconductor companies to set up operations in India.

Key Schemes under ISM

• Semiconductor Fabs Scheme: Offers up to 50% fiscal support for establishing semiconductor wafer fabrication units.
• Display Fabs Scheme: Provides 50% project cost assistance for setting up display panel fabrication facilities.
• Design Linked Incentive (DLI) Scheme: Supports semiconductor design startups and MSMEs at all stages of product development.
• SEMICON India Programme: A flagship industry event facilitating collaboration among global industry leaders, policymakers, academia, and startups.

Significance of ISM

• Market Potential: India’s semiconductor market is projected to reach $100–110 billion by 2030.
• Strategic Importance: Reduces overdependence on global suppliers such as Taiwan (which produces over 60% of the world’s semiconductors), China, and the USA.
• Supply Chain Security: Helps de-risk global supply chains by creating a reliable manufacturing hub in India.

India’s Retail Inflation Falls to 8-Year Low – July 2025

Headline CPI Inflation: 1.55% (YoY) – lowest since June 2017.

Food Inflation (CFPI): -1.76% – lowest since Jan 2019.

Reasons for Decline

• Favourable Base Effect: Lower inflation in the reference year makes current inflation rate appear lower.
• Price decline in pulses, transport & communication, vegetables, cereals, education, etc.

About Consumer Price Index (CPI)

1. Definition:

• Measures changes over time in the general level of prices of goods & services households consume.

2. Uses:

• Key macroeconomic inflation indicator.
• Tool for inflation targeting (RBI).
• Used for DA (Dearness Allowance) indexation.
• Deflator in national accounts.

3. Published by:

• Central Statistical Office (CSO), on 12th of every month.

4. Base Year:

• 2012.

5. National-Level CPI Variants:

• CPI-IW (Industrial Workers)
• CPI-AL (Agricultural Labourers)
• CPI-RL (Rural Labourers)
• CPI-UNME (Urban Non-Manual Employees)

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