Current Affairs Quiz - February 2025

Notes:
The Ministry of Statistics and Programme Implementation (MoSPI) released findings from the second Household Consumption Expenditure Survey (HCES). The survey collects data on household spending on goods and services. It helps assess economic well-being, update the Consumer Price Index, and measure poverty and inequality. The Monthly Per Capita Consumption Expenditure (MPCE) is the main indicator for analysis. Urban-rural consumption differences declined in 2023-24 across major states. MPCE increased for all household types in both rural and urban areas. Kerala has the lowest urban-rural MPCE gap, followed by Punjab, Andhra Pradesh, and Bihar. Consumption inequality declined across almost all major states. The Gini coefficient fell to 0.237 (rural) and 0.284 (urban) in 2023-24.

Notes:
Indian researchers at the Indian Institute of Astrophysics (IIA), Bengaluru developed a new method to measure solar storms’ size and speed. The method improves predictions of Coronal Mass Ejections (CMEs), which can disrupt Earth’s communication systems and power grids. It measures CME radial size and expansion speed, crucial for understanding their impact on Earth’s magnetic field. The approach estimates instantaneous expansion speed using a single observation point, making it more efficient. The method was tested on a 2010 CME event and will be used with Aditya-L1 for better space weather forecasting.

Notes:
RBI released the Digital Payments Index (RBI-DPI) to measure the growth of digital transactions in India. Digital payments grew by 11.1% YoY as of September 2024. The RBI-DPI for September 2024 stood at 465.33, up from 445.50 in March 2024. The index tracks five key factors: Payment Enablers, Infrastructure (Demand & Supply), Payment Performance, and Consumer Centricity. UPI’s share in digital payments surged from 34% in 2019 to 83% in 2024, with a CAGR of 74%. UPI transactions grew from ₹5.86 lakh crore (2018) to ₹246.83 lakh crore (2024).

Notes:
World Wetlands Day is celebrated on 2nd February every year. India added four new Ramsar sites on World Wetlands Day, February 2. The total number of Ramsar sites in India has now reached 89. The new sites include Sakkarakottai and Therthangal Bird Sanctuaries in Tamil Nadu, Khecheopalri Wetland in Sikkim, and Udhwa Lake in Jharkhand. Sikkim and Jharkhand have received their first-ever Ramsar sites. Wetlands support diverse aquatic life and play a crucial role in the ecosystem.

Notes:
The Union Budget 2025-26 introduced the Bharatiya Bhasha Pustak Scheme to provide digital textbooks in Indian languages. It aims to make learning more accessible for students in schools and universities. The scheme will offer study materials in multiple regional languages to support diverse linguistic backgrounds. It seeks to bridge the gap in educational resources for students across India. This initiative complements the ASMITA (Augmenting Study Materials in Indian Languages through Translation and Academic Writing) program, which focuses on translating and developing academic content in Indian languages.

Notes:
Japan successfully launched the Michibiki 6 satellite on the new H3 rocket, aiming to improve its navigation system. The launch occurred at the Tanegashima Space Center, and the satellite separated successfully 29 minutes after liftoff. Michibiki 6 will be the fifth satellite in Japan’s quasi-zenith satellite system (QZSS). The system supplements US GPS and improves positioning for various devices. Japan plans to expand to seven satellites by 2026 and an 11-satellite network by the late 2030s. The launch was the fourth successful flight for the H3 rocket system.

Notes:
The Finance Minister announced a ₹20,000 crore ‘Nuclear Energy Mission’ to develop indigenous Small Modular Reactors (SMRs). SMRs are small nuclear reactors with a maximum output of 300 MWe, producing 7.2 million kWh per day. In comparison, large nuclear plants generate over 1,000 MWe and 24 million kWh per day. SMRs are small, modular, and reactor-based, generating low-carbon electricity. They have small footprints, lower capital costs, and can be factory-built. SMRs can be deployed in locations unsuitable for large nuclear plants. They support incremental power additions, energy hubs, industrial heating, district heating, and hydrogen production.

Notes:
The Gyan Bharatam Mission was announced in the Union Budget 2025-26 to preserve and protect manuscripts across India. The mission aims to survey, document, and conserve more than one crore manuscripts in academic institutions, museums, and libraries. Its significance includes preserving historical value, unveiling ancient Indian knowledge, ensuring longevity, and providing 24/7 access to manuscripts. The budget allocation for the National Manuscripts Mission (NMM) has been increased from Rs. 3.5 crore to Rs. 60 crore to support the new mission.

Notes:
Special Window for Affordable and Mid-Income Housing (SWAMIH) Fund 2.0 aims to revive stalled real estate projects by providing financial support. The Union Budget 2025-26 has allocated ₹15,000 crore to complete one lakh housing units. Real estate developers and National Real Estate Development Council (NAREDCO) had long requested the fund’s second tranche. SWAMIH Fund I, launched earlier, was created to complete stressed and stalled housing projects. It is sponsored by the Ministry of Finance. It is a Category-II AIF (Alternate Investment Fund) debt fund registered with SEBI.

Notes:
The Centre for Nano and Soft Matter Sciences (CeNS) in Bengaluru, India developed the high-entropy alloy (HEA) catalyst for hydrogen production. CeNS is an autonomous institute of the Department of Science and Technology (DST). The catalyst is made of platinum, palladium, cobalt, nickel, and manganese (PtPdCoNiMn). The catalyst was prepared using two methods: electrodeposition and solvothermal processes.  The catalyst is more efficient than pure platinum and uses seven times less platinum than commercial catalysts.  The catalyst is stable and efficient for over 100 hours in alkaline seawater.