Latest Current Affairs 2025 (Part 1) – UPSC, WB SSC, SSC GD, Defence & Other Govt Exams

Keeping up with current affairs is crucial for aspirants preparing for UPSC, SSC, Banking, Railways, Defence, and other competitive exams. The Union Budget 2025–26 was one of the most significant national developments in January 2025, shaping India’s growth path across agriculture, industry, taxation, healthcare, and infrastructure.

Here’s a detailed breakdown of the important highlights from The Hindu Review – January 2025 (Part 1).

🏛 National News

Union Budget 2025–26 Highlights

Finance Minister Nirmala Sitharaman presented the Union Budget 2025–26 with a vision to boost agriculture, MSMEs, healthcare, education, infrastructure, and new-age technologies like AI and nuclear energy.

Key Budget Figures:

Total Expenditure: ₹50.65 lakh crore
Total Receipts (excluding borrowings): ₹34.96 lakh crore
Net Tax Receipts: ₹28.37 lakh crore
Fiscal Deficit: 4.4% of GDP
Capital Expenditure: ₹11.21 lakh crore (3.1% of GDP)

🔹 Key Initiatives of Budget 2025–26

1. Agriculture Sector Reforms

PM Dhan-Dhaanya Krishi Yojana launched for 100 low-productivity districts, covering 1.7 crore farmers.
Mission Aatmanirbharta in Pulses – emphasis on Tur, Urad, and Masoor to reduce imports.
Makhana Board established in Bihar for value addition and global export promotion.
Mission for Cotton Productivity – a 5-year strategy for Extra Long Staple (ELS) cotton.
New Urea Plant at Namrup, Assam with a 12.7 LMT capacity, boosting fertilizer security.

2. MSME & Startup Growth

Credit Card for Micro Enterprises with a limit of ₹5 lakh.
Fund of Funds (₹10,000 crore) for startups.
Loans up to ₹2 crore for 5 lakh first-time women/SC/ST entrepreneurs.
Focus Product Scheme for footwear & leather industry, expected to create 22 lakh jobs.

3. Investing in People & Economy

50,000 Atal Tinkering Labs to nurture innovation in schools.
AI in Education: ₹500 crore allocated to build a Centre of Excellence in AI.
10,000 new medical seats to strengthen healthcare workforce.
Revamped PM SVANidhi Scheme – UPI-linked credit cards for street vendors.
Nuclear Energy Mission: Investment of ₹20,000 crore in Small Modular Reactors (SMRs).
Modified UDAN Scheme: 120 new destinations to be developed in the next 10 years.

4. Direct Tax Reforms

The new income tax regime provides major relief to middle-class taxpayers:

No income tax up to ₹12 lakh (₹12.75 lakh for salaried with standard deduction).
Revised Tax Slabs:
- ₹0–4 lakh: Nil
- ₹4–8 lakh: 5%
- ₹8–12 lakh: 10%
- ₹12–16 lakh: 15%
- ₹16–20 lakh: 20%
- ₹20–24 lakh: 25%
- Above ₹24 lakh: 30%

5. Other Key Announcements

36 lifesaving drugs exempted from customs duty.
Critical minerals (like cobalt & lithium-ion scrap) exempted to support EV ecosystem.
Modified export policies for handicrafts, leather & marine products.
Revenue Share:
- Income Tax – 22%
- Corporate Tax – 17%
- GST & Other Taxes – 18%
- Borrowings – 24%
Major Allocations:
- Defence: ₹4.91 lakh crore
- Education: ₹1.28 lakh crore
- Healthcare: ₹98,311 crore
- Transport Infrastructure: ₹5.48 lakh crore

📖 Why This is Important for Students & Aspirants?

The Union Budget 2025–26 reflects India’s roadmap for inclusive growth, digital transformation, and sustainable development. Key takeaways for exam aspirants include:

Taxation changes for personal finance-related questions.
Agriculture & MSME initiatives for economy and social welfare topics.
Defence & infrastructure allocation for GK and current affairs.
Healthcare & education reforms for social development analysis.