31 May 2025 Current Affairs

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India’s GDP Grows at 6.5% in FY 2024-25 - Slowest Since Pandemic

What Happened?

According to the Ministry of Statistics and Programme Implementation, India’s real GDP growth for FY 2024-25 stood at 6.5%, the slowest annual growth since the COVID-19 hit year 2020-21.

1. Quarterly Breakdown:

• Q4 (Jan–Mar 2025): Growth = 7.4% (highest in the year)
• Q4 FY24: Growth = 8.4%
• Q3 FY25: Growth = 6.4%

2. Government’s Viewpoint:

Chief Economic Adviser V. Anantha Nageswaran emphasized:

• India is doing better than many advanced economies in a “growth-scarce” global environment.
• The growth differential between India and advanced economies has increased post-COVID, even more than during the 2003–2010 boom era.

3. Sectoral Highlights:

• Agriculture: Continued strong performance in Q4.
• Manufacturing:

- Q4 Growth = 4.8% (vs. 11.3% in Q4 FY24)

- Full-year = 4.5%

• Construction:

- Q4 = 10.8% (highest in the year)

- Full-year = 9.4% (vs. 10.4% in FY24)

4. Household Consumption:

• FY25 = 7.2% growth
• FY24 = 5.6%

Static GK to Remember

• GDP is measured by Ministry of Statistics and Programme Implementation (MoSPI).
• Chief Economic Adviser (CEA) as of 2025 – V. Anantha Nageswaran
• Base Year for calculating real GDP – 2011-12
• GDP = Gross Domestic Product, the total value of goods and services produced in a year within a country.
• The construction sector is part of the Industry group in GVA classification.
• India’s GDP growth in FY 2020-21 was -6.6% due to the pandemic.

India to Hit 1 Billion Internet Users by FY25! – Telecom Revolution in Full Swing

What's the News?

Union Minister Jyotiraditya Scindia has announced that India is likely to cross 1 billion internet users by the end of this fiscal year, thanks to rapid expansion in telecom and digital connectivity, especially under BharatNet - the world’s largest rural connectivity program.

Key Highlights

1. Internet Growth Surge

• India’s internet base grew from 250 million to 974 million 
• Likely to cross 1 billion users by mid-2025
• Calling rates fell from 50 paise to ₹0.003/minute, data from ₹287/GB to ₹9/GB - cheapest data in the world!

2. India’s Telecom Market

• 2nd largest telecom market in the world
• Mobile subscribers = 1.2 billion+

3. BharatNet Mega Project

• Phase I: 2.14 lakh Gram Panchayats connected
• Phase II: 2.64 lakh more to be connected
• Total fibre laid: 7 lakh km
• Investment: $16.9 billion (₹1.39 lakh crore) - largest rural internet investment globally
• New features in Phase II:

- MPLS routers replacing older GPON

- Central network hub for maintenance

- Independent engineers for checks

- 10-year maintenance clause

4. Made-in-India Push

• Mobile exports = ₹1.75 lakh crore
• India moving from importer: exporter of telecom gear
• Bharat 6G Alliance aims to contribute 10% of global 6G patents

5. India Post 2.0

• Empowered by Post Office Act, 2023
• Offers:

- Mail 

- India Post Payments Bank 

- Postal Life Insurance 

- Post Office Savings Bank

- Digital access codes (planned)

6. Vodafone Idea Update

• Govt owns 49% stake (₹37,000 crore equity swap)
• No plan to raise stake
• Market to have 3 private + 1 public operator - considered healthy

Static GK Corner

• BharatNet is implemented by Bharat Broadband Network Limited (BBNL) under DoT.
• PLI Scheme = Production Linked Incentive for telecom & electronics.
• India is the world’s cheapest data market (₹9/GB avg).
• Post Office Act, 2023 modernises India Post’s operations.
• India Post Payments Bank (IPPB) is a govt-owned entity under the Dept. of Posts.
• 6G R&D in India is led by the Bharat 6G Alliance, launched in 2023.

India Meets Fiscal Deficit Target of 4.8% for FY25 - Despite Revenue Shortfalls!

What’s the News?

India has successfully met its fiscal deficit target of 4.8% of GDP for the financial year 2024-25, even though there were shortfalls in income tax collections and disinvestment revenues, according to the Controller General of Accounts.

Key Highlights

1. Fiscal Performance at a Glance (FY25)

• Fiscal Deficit: ₹15.77 lakh crore = 4.8% of GDP
• Total Revenue: ₹30.78 lakh crore (97.8% of revised estimates)
• Total Expenditure: ₹46.55 lakh crore (97.8% of revised estimates)
• Shortfall in:

- Miscellaneous capital receipts (includes disinvestment) — only 52.1% of target met

- Income tax collection: ₹11.83 lakh crore, nearly 6% below target

• Corporate tax collection exceeded target by 0.7%, at ₹9.87 lakh crore

2. Future Target

• Finance Minister Nirmala Sitharaman announced 4.4% fiscal deficit target for FY26 in the Budget 2024-25
• This is part of India’s fiscal consolidation glide path to reduce the deficit over time

What is Fiscal Deficit?

• Fiscal Deficit = Total Expenditure - Total Revenue (excluding borrowings)
• It indicates how much the government needs to borrow to meet its spending commitments.

Disinvestment Woes

• Targeted miscellaneous capital receipts: ₹33,000+ crore
• Achieved: ₹17,202 crore
• Of this, disinvestment earnings were just ₹10,131 crore
• This signals slower progress on privatisation and asset monetisation

Static GK Corner

• Controller General of Accounts (CGA) operates under the Ministry of Finance’s Department of Expenditure
• India’s Fiscal Responsibility and Budget Management (FRBM) Act mandates a long-term fiscal consolidation path
• Disinvestment is managed by DIPAM (Department of Investment and Public Asset Management)
• Union Budgets are presented by the Finance Minister in Parliament
• Capital receipts include borrowings, recoveries of loans, and disinvestment proceeds
• Revenue receipts include tax and non-tax income (like interest, dividends, fees)

Pakistan to Upgrade Ties with Afghanistan, Appoint Ambassador to Kabul!

What’s the News?

In a major diplomatic development, Pakistan has decided to upgrade its diplomatic ties with Afghanistan by appointing an Ambassador to Kabul for the first time since the Taliban takeover in 2021. This marks a positive shift in the previously tense relationship between the two neighbours.

Key Highlights

1. Thaw in Relations

• Pakistan previously blamed the Afghan Taliban for sheltering Tehreek-e-Taliban Pakistan (TTP) militants.
• Cross-border attacks had led to worsening ties.
• Diplomatic ties were maintained only at the Chargé d’Affaires level since 2021.

2. China’s Role as a Mediator

• The breakthrough came after a trilateral meeting in Beijing between Foreign Ministers of China, Pakistan, and Afghanistan.
• China is believed to have played a major role in bridging differences between the two countries.

3. Recent Developments

• Deputy PM Ishaq Dar visited Kabul on April 19, first Pakistani ministerial visit in 3 years
• Afghan FM Amir Khan Muttaqi expected to visit Islamabad soon - his first visit in 2 years
• Mr. Dar: “Pakistan-Afghanistan relations are on a positive trajectory.”

4. Security Cooperation

• The Taliban have recently taken actions against anti-Pakistan groups, easing Islamabad’s concerns.
• This has led to a resumption of high-level talks and mutual diplomatic gestures.

Static GK Corner

• Tehreek-e-Taliban Pakistan (TTP): A banned militant outfit responsible for attacks inside Pakistan, often blamed on Afghan-based sanctuaries
• Chargé d’Affaires: A diplomat who heads an embassy in the absence of the Ambassador
• China's 'Trilateral Dialogue': A strategic forum between China, Pakistan, and Afghanistan for regional stability and cooperation
• Kabul: Capital of Afghanistan and seat of the Taliban’s interim government
• Islamabad: Capital of Pakistan and key player in South Asian geopolitics

Summary in One Line

China-brokered diplomacy leads to a thaw in Pakistan-Afghanistan ties with ambassador-level restoration and growing mutual engagement.

Russia’s Aerial Barrage Pushes Ukraine’s Air Defence to Breaking Point!

What’s the Update?

As peace talks begin, Russia has launched its heaviest aerial attacks yet - over 900 drones and 90 missiles in just 3 days - putting Ukraine’s air defence under extreme pressure and raising serious concerns about the sustainability of Kyiv’s defence strategy.

Key Highlights

1. Air Defence on the Edge

• Ukraine’s air defence is stretched thin, protecting only major cities like Kyiv.
• Over 80% of Russian drones and missiles were shot down, but deadly gaps remain - more than a dozen civilians were killed.

2. New Russian Tactics

• Russia now uses decoy drones (40% of total), high-altitude flights, and ballistic missiles to bypass defences.
• Drones like Shaheds (Iranian-designed) are cost-effective and hard to counter with expensive Western systems.

3. Dependence on the West

• Ukraine uses Patriot missiles, fighter jets, and mobile air defence teams, but shortages loom.
• New support systems are expected in 18 months - but U.S. political uncertainty (especially under Trump) casts a shadow.

4. Economic War of Attrition

• Ukraine must economize: can’t shoot every drone with a missile worth crores.
• Zelenskyy: “It’s now a financial issue, not production.”

5. Tech in Action

• Electronic jammers & interceptor drones now in play.
• Need to scale up low-cost alternatives quickly.

6. Civilian Casualties

Ballistic missile strikes have caused severe losses:

• Sumy: 35 killed
• Kryvyi Rig: 19 killed, including 9 children

Static GK Corner

•  Kyiv: Capital of Ukraine; primary target of Russia’s drone and missile strikes
• Patriot Missile System: U.S.-made air defence system that intercepts missiles; used by Ukraine
• Shahed Drones: Iranian-origin kamikaze drones used by Russia
•  Ballistic Missiles: Extremely fast and difficult to intercept; used increasingly by Russia
• Zelenskyy’s Appeal: Urging the West for “real protection” through immediate and consistent air defence support

Summary in One Line

Ukraine’s air defences are overwhelmed by Russia’s intensified drone and missile attacks, amid urgent calls for Western aid and smarter, cheaper counter-strategies.

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