PM highlighted India’s economic transformation from the “Fragile Five” to a leading major economy.  

About Fragile Five

• Term coined by Morgan Stanley (2013)   
• A term used to refer to five emerging economies considered highly vulnerable to external financial shocks and sudden capital outflows.
• Countries: Brazil, India, Indonesia, South Africa and Turkey 

The Ministry of Defence signed contracts with TATA Advanced Systems Limited and NIBE Private Limited to supply Loiter Munition Systems to the Indian Army.

About Loiter Munition Systems

• Nature: Also called kamikaze/suicide drones, they are unmanned aerial weapon systems that can loiter over a target area, identify targets, and deliver precision strikes.
• Dual Role: Combine capabilities of UAVs and missiles, enabling surveillance and target engagement.
• Utility: Provide Beyond Visual Line of Sight (BVLOS) precision-strike capability against tactical and high-value targets.
• Nagastra-1 is India’s indigenous Loiter Munition weapon. 

For the first time, Vande Mataram is rendered at the Red Fort during the 2026 Independence Day celebrations.

About Vande Mataram

• Origin: Composed by Bankim Chandra Chatterjee in a mix of Sanskrit and Bengali, and published in his novel Anandamath (1882).

• It was first published in the journal 'Bangadarshan' in 1875.

• National Song: On 24 January 1950, the Constituent Assembly accorded Vande Mataram equal honour with the National Anthem, Jana Gana Mana.
• First public rendition: Sung by Rabindranath Tagore at the 1896 session of the Indian National Congress.
• Theme: A tribute to Mother India, symbolising patriotism, unity and devotion to the nation.
• Prevention of Insults to National Honour Act, 1971 has been recently amended to extend the same statutory protection to the Vande Mataram, as is currently granted to the National Anthem.

President of India approved Gallantry awards on the eve of 80th Independence Day

About Gallantry Award

• Objective: Recognitions given for acts of bravery, valour and self-sacrifice during both wartime and peacetime.
• Conferred By: The President of India, who is the Supreme Commander of the Armed Forces.
  • Officially announced twice a year on the eve of Republic Day and Independence Day.
• Nodal Ministry: The Ministry of Defence invites recommendations twice a year from the Armed Forces and the Ministry of Home Affairs.
• Wartime Gallantry Awards:Param Vir Chakra (Highest), Maha Vir Chakra and Vir Chakra.
• Peacetime Gallantry Awards:Ashoka Chakra (Highest), Kirti Chakra and Shaurya Chakra.

Directorate of Revenue Intelligence (DRI) uncovered large-scale misuse of SAFTA (South Asian Free Trade Area) benefits through fraudulent imports of areca nuts. 

About SAFTA (South Asian Free Trade Area) 

• It is the free trade arrangement of the South Asian Association for Regional Cooperation (SAARC). It came into force in 2006, succeeding the 1993 SAARC Preferential Trading Arrangement.
• Members: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka.
• Objective: To promote intra-regional trade and economic cooperation by reducing trade barriers and facilitating cross-border movement of goods.
• Special Provision: Provides Special and Differential Treatment (S&DT) to Least Developed Countries (LDCs).

About Areca Nut

• Also known as betel nut/supari. 
• India is the world’s largest producer
• Major producing States: Karnataka, Kerala and Assam. 
• Imports attract 100% Basic Customs Duty to protect domestic growers.

Parliamentary panel recently flagged the slow pace of manuscript digitisation under the Ministry of Culture's Gyan Bharatam Mission.

About Gyan Bharatam Mission

• Origin: Announced in 2025-26 Union Budget. Formally launched in September 2025.
• Targets: Seeks to digitise one crore manuscripts by 2030.
• Funding: ₹491.66 crore financial outlays (2025-2031).
• Digital Platform: Establishment of National Digital Repository (NDR) to share Indian texts globally.
• Key pillars: Manuscript Resource/Conservation Centres, AI-based Handwritten Text Recognition, NDR, Capacity building, and Global collaboration.
• Current Status: Only 7.5 lakh texts have been digitised so far.

A recent marine oil spill in the Persian Gulf has severely contaminated Iran’s Qeshm Island, threatening the sensitive Hara mangroves.

About Hara Mangrove

• Location: Situated primarily on Qeshm Island along Strait of Hormuz in Persian Gulf.
• Unique Flora: Dominated by resilient Avicennia marina (grey mangrove) species, locally named hara/harra.
• Recognition: Ramsar Wetland (1975), and UNESCO Biosphere Reserve (1976).
• Significance: Critical habitat for hawksbill turtle, green turtle, Dalmatian pelican, and migratory birds; supports fisheries and local livelihoods.

Logistics Data Bank recently achieved a major milestone by tracking 10 crore export-import (EXIM) containers since its 2016 launch. 

About Logistics Data Bank (LDB)

• Genesis: Implemented by NLDSL, a joint venture between Government of India (NICDIT) and Japan's NEC Corporation.
• Technology: Integrates Radio Frequency Identification (RFID), Internet of Things (IoT), and Cloud Computing to provide end-to-end, real-time tracking of EXIM containers.
• Coverage: Monitors 100% of India's EXIM container movement across major ports, Inland Container Depots, toll plazas, and SEZs.
• Latest Upgrade: Rollout of LDB 2.0 (2025) introduced high-seas cargo tracking and multi-modal shipment visibility.
• Significance: Reduces transit duration and eliminates supply chain bottlenecks.

Central Board of Direct Taxes launched FAST-DS 2026 for small taxpayers comes into force on 16^th August 2026. 

About FAST-DS, 2026

• Legal Backing: One-time voluntary disclosure scheme contained in Finance Act, 2026. 
• Aim: Enables eligible taxpayers to declare certain undisclosed foreign assets, undisclosed foreign income, or undeclared foreign assets, on payment of a specified tax or fee.
• 2 categories of declarations: 
  • Category 1: For an undisclosed foreign asset or foreign income that was not previously offered to tax, the aggregate value must not exceed ₹1 crore.
  • Category 2: Foreign assets that were already offered to tax or acquired when taxpayer was a non-resident but were not reported in relevant tax-return schedule. Threshold for such declarations is ₹5 crore, with a ₹1 lakh fee payable.
• Benefit: Immunity from tax, penalty, and prosecution under Black Money Act.
• Exclusions: Inapplicable to PMLA-linked crime proceeds or concluded Black Money Act assessments.

Jal Jeevan Mission has expanded rural tap-water coverage from 16.7% in 2019 to over 82%, with over 2 lakh villages certified as ‘Har Ghar Jal’. 

About Jal Jeevan Mission 

• Launched: In 2019 under Ministry of Jal Shakti.
• Type: Centrally Sponsored Scheme
• Objective: To provide every rural household with a Functional Household Tap Connection (FHTC) ensuring 55 litres per capita per day (LPCD) of safe drinking water.
• Salient Features
  • Promotes community ownership through Paani Samitis/Village Water and Sanitation Committees (VWSCs).
  • Focuses on water quality monitoring, source sustainability, grey-water management and operation & maintenance.
  • Uses Village Action Plans (VAPs) for long-term drinking water security.
  • Extended till December 2028.