17 January 2026 Current Affairs (With PDF)

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10 Years of Startup India Initiative (2016–2026)

About Startup India Initiative

A flagship programme aimed at supporting entrepreneurs, building a robust startup ecosystem, and transforming India from job seekers to job creators.

Three Core Pillars

1. Simplification & Handholding:

• Easier regulatory compliance
• Startup-friendly norms
• Intellectual property and market access support

2. Funding Support:

• Tax exemptions
• Startup India Seed Fund Scheme
• Fund of Funds for Startups (FFS)
• Credit Guarantee Scheme for Startups (CGSS)

3. Incubation & Industry–Academia Partnership:

• Strengthening innovation through mentoring and institutional support
• MAARG Portal (Mentorship, Advisory, Assistance, Resilience & Growth)

Key Enablers & Platforms

• Startup India Hub – single-point access for information and facilitation
• BHASKAR (Bharat Startup Knowledge Access Registry) – discovery, networking & ecosystem mapping
• SIPP Scheme – fast-tracking and cost reduction for patent and IPR filings

Decadal Achievements (2016–2026)

• 3rd largest startup ecosystem globally
• ~2.09 lakh DPIIT-recognised startups (till 2025)
• 120+ Unicorns, combined valuation >$350 billion
• Employment: Over 21 lakh direct jobs created (with strong multiplier effects)
• Inclusivity: ~45% startups have at least one woman director/partner
  - ~50% startups located in Tier-II and Tier-III cities

Other Government Schemes Supporting Startups

• Atal Innovation Mission (AIM)
• GENESIS (Gen-Next Support for Innovative Startups)
• NIDHI (National Initiative for Developing and Harnessing Innovations)
• ASPIRE (A Scheme for Promotion of Innovation, Rural Industries and Entrepreneurship)

India Emerges as Global Leader in IPO Activity: SEBI Chairman

Why in News

The SEBI Chairman highlighted that India has become the world’s largest market in terms of the number of Initial Public Offerings (IPOs), while ranking third globally by total IPO value, underlining the growing strength of India’s capital markets.

Key Highlights

• India leads globally in IPO count and stands third in IPO proceeds by value.
• Capital markets are playing a central role in mobilising long-term investment and supporting economic growth.
• 311 IPOs mobilised nearly ₹1.7 trillion in the first nine months of the current financial year.
• Market capitalisation-to-GDP ratio surged from 69% in FY2016 to over 130%, reflecting deeper market penetration and investor confidence.

What is an Initial Public Offering (IPO)?

• An IPO is the process through which a privately held company offers its shares to the public for the first time.
• It enables firms to raise equity capital and transition into publicly listed companies.
• IPOs are issued in the primary capital market, which deals with the creation of new securities.

About Capital Markets

1. Meaning:

Capital markets refer to the institutional framework and platforms that facilitate the raising and allocation of long-term funds, both equity and debt, for productive economic use.

2. Classification:

A) Primary Market

• Concerned with the issuance of new securities
• Includes IPOs, follow-on public offers, and rights issues

B) Secondary Market

• Deals with the trading of existing securities
• Commonly known as the stock market

3. Key Participants:

• Financial institutions, Banks, Corporate entities, Foreign portfolio investors, Retail investors

4. Major Instruments:

• Equity shares, Preference shares, Debentures, Bonds and other debt instruments

Venezuelan Opposition Leader Offers Nobel Peace Prize Medal to U.S. President

Why in News

Venezuelan opposition leader María Corina Machado, the 2025 Nobel Peace Prize laureate, presented her Nobel medal to U.S. President Donald Trump during a meeting at the White House on 15 January 2026 — a symbolic gesture that has ignited global debate on the meaning and transfer of Nobel Peace Prize honours. 

About the Gesture

• Machado met President Trump and presented him with her Nobel Peace Prize medal as a symbol of gratitude and mutual respect for what she described as his role in supporting Venezuela’s transition toward democracy. 
• Trump accepted the medal and framed it, calling Machado a “wonderful woman” for the gesture. 
• The event drew immediate reactions from international observers and Norwegian politicians. 

About the Nobel Peace Prize

• Origins: Established by the will of Alfred Nobel, awarded annually since 1901 by the Norwegian Nobel Committee.
• Purpose: To recognise contributions to peace promotion, disarmament, human rights, and global cooperation.
• Prize Components: A medal, a diploma, and a cash award (currently ~11 million Swedish crowns).
• Notable Indian Laureates: Mother Teresa (1979), Dalai Lama (1989), and Kailash Satyarthi (2014). 

Can a Nobel Peace Prize Be Transferred?

• Official Clarification: The Nobel Peace Prize itself is non-transferable — once awarded, it cannot be revoked, shared, or reassigned. The laureate’s status remains permanent regardless of what happens to the medal or diploma. 
• Medal vs. Honour: Although the physical medal, diploma, and prize money can be gifted, sold, or donated, the honour and title remain with the original laureate. 
• Precedents: Laureates have historically sold or donated their medals, but this does not change who is officially recognised as the Nobel Peace Prize winner. 

Significance & Reactions

• The gesture sparked debate about the symbolism of awards and diplomatic signalling.
• Norwegian Nobel authorities reiterated the finality of prize decisions and emphasised that the title of laureate does not transfer, even if the medal changes hands. 

EU Council and EU Commission

Why in News

The Presidents of the European Union (EU) Council and the EU Commission have been invited as Chief Guests at India’s 77th Republic Day celebrations, reflecting the growing strategic and political engagement between India and the European Union.

European Union (EU) Council

• Established: 1958 (originally as the Council of the European Economic Community).
• Institutional Role: Represents the collective interests of EU member states’ governments in the EU’s decision-making process.
• Key Functions:
  - Adopts EU legislation jointly with the European Parliament.
  - Coordinates economic, foreign, and security policies of member states.
  - Concludes international agreements on behalf of the EU.
• Composition: National government ministers from each EU country, participating based on the subject under discussion (e.g., finance, foreign affairs).
• Presidency: Rotates among EU member states every six months; currently held by Cyprus (January–June 2026).
• Headquarters: Brussels, Belgium.

European Union (EU) Commission

• Established: 1958.
• Institutional Role: Acts as the executive arm of the European Union, safeguarding the EU’s overall interests.
• Key Functions:
  - Proposes new EU laws and policies.
  - Ensures implementation and enforcement of EU legislation.
  - Manages and executes the EU budget and programmes.
  - Represents the EU in international negotiations on trade and cooperation.
• Composition:
  - A body of Commissioners, with one Commissioner from each EU member state.
  - Commissioners are expected to act independently of national governments.

Significance of the Joint Representation

• Symbolises institutional unity of the EU in its engagement with India.
• Highlights the expanding India–EU partnership across trade, technology, climate action, and geopolitics.
• Reinforces India’s importance as a key strategic partner for Europe in the Indo-Pacific region.

IMD and Mission Mausam

Why in News

The India Meteorological Department (IMD) marked its 151st Foundation Day by deploying 200 Automatic Weather Stations (AWS) across four major metropolitan cities, a move aligned with the objectives of Mission Mausam to strengthen urban weather monitoring and forecasting.

India Meteorological Department (IMD)

• Status: India’s national authority for meteorology and allied services.
• Established: 1875.
• Administrative Ministry: Ministry of Earth Sciences.
• Headquarters: New Delhi.

Core Mandate

• Generation and dissemination of weather forecasts.
• Early warnings for severe weather events such as cyclones, heatwaves, floods, and heavy rainfall.
• Support to sectors including agriculture, aviation, disaster management, water resources, and public safety.

Mission Mausam

• Nature: A comprehensive, multi-dimensional initiative to enhance India’s weather and climate science ecosystem.
• Objective: Improve forecast accuracy, lead time, climate research, and service delivery, especially in the context of extreme weather events.

Implementing Institutions

• India Meteorological Department (IMD)
• Indian Institute of Tropical Meteorology (IITM), Pune
• National Centre for Medium-Range Weather Forecasting (NCMRWF), Noida

Key Focus Areas

• Expansion of observational infrastructure (e.g., AWS, radars).
• Advanced numerical weather prediction models.
• Strengthening urban meteorology and climate resilience.
• Better integration of research, operations, and user-oriented services.

Significance

• Enhances real-time urban weather monitoring.
• Improves early warning systems for extreme events.
• Supports climate-resilient planning and disaster risk reduction.
• Reinforces India’s capacity in weather forecasting and climate services.

Periodic Labour Force Survey (PLFS) – December 2025 Bulletin

Why in News:

The Monthly Bulletin for December 2025 of the PLFS showed an upward trend in Labour Force Participation Rate (LFPR) for persons aged 15 years and above, indicating improved engagement in the labour market.

About PLFS

• Conducted by: National Statistics Office (NSO), Ministry of Statistics and Programme Implementation.
• Objective: To provide estimates of key labour market indicators for India, both at national and state levels.
• Key Features:
  - Estimates Labour Force Participation Rate (LFPR), Worker Population Ratio (WPR), and Unemployment Rate (UR).
  - Follows the Current Weekly Status (CWS) approach for measuring employment and unemployment.

Key Labour Market Indicators

Significance of December 2025 Trend

• Rising LFPR indicates greater engagement of population in economic activities, which may reflect improved job opportunities, better skill development, or changing socio-economic participation (especially women and youth).
• Policy Relevance: Helps the government design targeted employment generation schemes, assess effectiveness of skilling programs, and plan labour market reforms.

Womaniya Initiative

Why in News

Government e-Marketplace (GeM) has completed seven years of the Womaniya Initiative, reaffirming its role in expanding the participation of women entrepreneurs and Self-Help Groups (SHGs) in public procurement.

About the Womaniya Initiative

• A flagship inclusivity programme under GeM aimed at promoting women-led enterprises in government purchasing.
• Designed to integrate women entrepreneurs, women-led MSEs, and SHGs into the formal public procurement ecosystem.
• Operates through a fully digital, transparent, and paperless platform, reducing procedural complexity and entry barriers.
• Eliminates intermediaries, enabling direct access to government buyers.

About Government e-Marketplace (GeM)

• Launched: 2016
• Objective: To ensure transparent, efficient, and inclusive public procurement.
• Role: Acts as a national online platform connecting government buyers with sellers of goods and services.

Tax Residency Certificate (TRC)

Why in News

The Supreme Court ruled that capital gains from Tiger Global (Mauritius) selling its Flipkart stake in 2018 are taxable in India, holding that DTAA benefits cannot be claimed solely on the basis of a TRC. This strengthens India’s substance-over-form approach.

What is a Tax Residency Certificate (TRC)?

• An official certificate issued by a country’s tax authority certifying that an individual or entity is a tax resident of that country for a specified financial year.
• Relevant for Resident Indians, NRIs, and entities involved in cross-border transactions.
• A mandatory document to claim benefits under a Double Taxation Avoidance Agreement (DTAA).

Role of TRC in DTAA

• DTAA: A bilateral agreement to avoid double taxation of income.
• TRC helps establish tax residency, a key condition for DTAA relief (e.g., reduced withholding tax, capital gains relief).

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