Daily Current Affairs- 23rd July 2025

Daily Current Affairs- 23rd July 2025

India’s First Mining Tourism Project in Jharkhand

In the News: Jharkhand Chief Minister Hemant Soren launched India’s first-ever mining tourism initiative in partnership with Central Coalfields Limited (CCL), turning an open-cast coal mine into a guided tourist attraction.

Key Points:

• Project Launch: Announced by CM Soren, the initiative marks India’s first mining tourism effort, aimed at opening up industrial heritage to the public.
• MoU with CCL: A 5-year agreement signed between the Jharkhand Tourism Development Corporation (JTDC) and CCL to manage operations, safety, and visitor services.
• Pilot Site & Tours: The North Urimari (Birsa) open-cast mine in Ramgarh district will host bi-weekly tours for groups of 10–20 visitors, including guided educational experiences.
• Circuit Options: Two initial tour routes—Rajrappa (₹2,800 + GST) and Patratu (₹2,500 + GST)—combine mining visits with nearby natural and cultural sites like Chinnamastika Temple and Patratu Valley.
• Integrated Tourism Plans: Jharkhand plans eco-industrial circuits and religious routes, and aims to convert abandoned mines into sustainable tourism and employment hubs.
• Vision & Impact: Inspired by a visit to the Gava Museum of Mines in Barcelona, the project seeks to educate visitors on mining processes and environmental practices while boosting local economic growth. 

India’s Millet Standards Recognised at Codex Alimentarius Commission

In the News: At the 88th Executive Committee Session of the Codex Alimentarius Commission (CCEXEC88), held in Rome from July 14–18, 2025, India received international praise for spearheading the formulation of group standards for whole millet grains. The effort, co-led with Mali, Nigeria, and Senegal, highlights India’s growing influence in global food safety and standard-setting.

Key Points:

• Millet Standard Leadership: India chaired the millet grain standards initiative, formally approved at the 47th Codex Alimentarius Commission (CAC47) in 2024 and reviewed at CCEXEC88.
• Co-Chairing with Global Partners: The initiative was co-led with Mali, Nigeria, and Senegal, and its terms of reference were finalised at the 11th Codex Committee on Cereals, Pulses and Legumes in April 2025.
• Broader Standardization Agenda:I ndia’s leadership earned commendation for fresh-dates standards, with responsibilities to co-chair new standards for fresh turmeric and broccoli.
• Strategic Planning Contribution: India's delegation influenced the Codex Strategic Plan for 2026–31 by introducing SMART KPIs for accountability and measurable outcomes.
• Regional Capacity-Building: FAO acknowledged India’s training programs in Bhutan, Nepal, Sri Lanka, Bangladesh, and Timor-Leste and urged underrepresented countries to use the Codex Trust Fund. 

India Ratings & Research Cuts India’s Growth Forecast for FY26

In the News: India Ratings & Research (Ind-Ra), a leading domestic credit rating agency, revised India’s GDP growth forecast for the fiscal year 2025–26 (FY26) from its earlier projection of 7.2% to 6.5%. The downgrade reflects growing concerns over weak rural demand, sluggish private consumption, and global macroeconomic headwinds.

Key Points:

• Revised Forecast: India Ratings & Research cut its FY26 GDP growth forecast from 7.2% to 6.5%. The revision reflects lower-than-expected momentum in private consumption and rural income recovery.
• Consumption Challenges: The agency highlighted that private consumption, which constitutes nearly 60% of GDP, remains sluggish, especially in rural areas where inflation and wage growth continue to exert pressure
• Investment Outlook: While public capex remains strong, Ind-Ra cautioned that private sector investment recovery is uneven and could be affected by global interest rates and geopolitical risks.
• Global Uncertainty: The downgrade also factors in external risks such as oil price volatility, global trade tensions, and interest rate trajectories in developed economies like the US.
• Inflation Impact: Persistent food inflation and uneven monsoon patterns are likely to impact disposable incomes and consumption, especially in rural segments.
• Policy Recommendations: Ind-Ra urged targeted fiscal support for rural employment, timely food supply interventions, and boosting consumption through sector-specific incentives.
• Medium-Term View: Despite the downgrade, the agency remains optimistic about India’s medium-term growth, attributing strength to infrastructure push, reforms, and domestic demand recovery by FY27. 

Gross NPAs Reduce To 2.58% From March 2021 to March 2025

In the News: India’s public sector banks (PSBs) reported a dramatic decline in gross non-performing assets (NPAs), with the ratio dropping from 9.11% to 2.58%, according to a statement by the Union Minister of State for Finance in the Rajya Sabha.

Key Points:

• Significant Decline in NPAs: Gross NPAs decreased from ₹6.17 lakh crore (9.11%) in March 2021 to ₹2.83 lakh crore (2.58%) in March 2025
• Loan Write-offs: Over ₹12 lakh crore of bad loans have been written off since FY 2015‑16, fully writing off some defaulted loans to clean balance sheets.
• Reform Anchored Reductions: Enactment of the Insolvency and Bankruptcy Code (IBC), stricter Recovery and SARFAESI laws, expansion of debt recovery limits, and the RBI’s prudential norms and Asset Quality Review drove the improvement.
• Institutional Measures: PSBs established specialized stressed-asset verticals, expanded Debt Recovery Tribunals (DRT) jurisdiction, and employed feet-on-street and business correspondent networks for active monitoring.
• Ongoing Recovery Efforts: Even after loan write-offs, recovery processes under IBC, SARFAESI, the DRT, and civil courts continue. Borrowers remain liable despite write-offs reflecting accounting cleanup. 

World’s Largest Grain Storage Plan in Cooperative Sector

In the News: The Government of India approved a pilot project to create the world’s largest grain storage network via Primary Agricultural Credit Societies (PACS). The initiative was announced to revamp rural agricultural infrastructure and empower grassroots cooperatives.

Key Points:

• Initiative Launch: Approved on May 31, 2023, this pilot now spans 11 PACS across 11 states, each equipped with storage godowns and related infrastructure.
• Infrastructure Upgrades: Each PACS facility includes grain storage godowns, custom hiring centres, processing units, and Fair Price Shops—supported by various schemes such as AIF, AMI, SMAM, and PMFME.
• Pilot Progress: As of July 2025, 9,750 MT of storage capacity across 11 states has been commissioned. An additional 500+ PACS are scheduled for rollout by December 2026
• Cooperative Expansion: Since its launch, nearly 22,933 new cooperative societies—including 5,937 multipurpose PACS—have been registered via the Margadarshika framework, broadening reach into all villages within five years
• Digital Empowerment: A ₹2,925 crore ERP-based computerisation plan has integrated 59,920 out of 73,492 PACS into a national IT platform, strengthening linkages with NABARD and ensuring real-time data transparency.
• Strategic Aim: Under the slogan “Sahakar se Samriddhi” (Prosperity through Cooperation), the programme aims not just to address grain storage shortages, but also to transform PACS into multifunctional rural hubs, elevating farmer incomes and reducing dependency on intermediaries. 

Suhani Shah Became First Indian To Win ‘Oscar for Magicians’ at FISM 2025

In the News:  Suhani Shah made history by becoming the first Indian to win an award at the prestigious Fédération Internationale des Sociétés Magiques (FISM) World Championship of Magic—commonly referred to as the “Oscar for Magicians.” This global recognition solidified her place among the top illusionists in the world.

Key Points:

• Historic Achievement: Suhani Shah won in the Mentalism category at FISM 2025, held in Italy. She is the first Indian to receive this global honor from the International Federation of Magic Societies.
• FISM World Championship: Often called the Olympics or Oscars of the magic world, the FISM World Championship is held every three years and brings together the most talented magicians from around the globe.
• Category of Excellence: Suhani competed in the Mentalism division, which involves reading minds, psychological illusions, and audience interaction—an area where she has earned renown for over two decades.
• Recognition for India: Her win marks a major milestone for Indian performance arts, putting Indian magic on the global stage and inspiring a new generation of illusionists in the country.
• Career Highlights: Suhani began performing at the age of 7 and has done over 5,000 shows worldwide. She’s also a clinical hypnotherapist and author, blending psychology with illusion in her performances.
• Cultural Impact: Her victory was widely celebrated across India, with tributes pouring in from both the entertainment and literary communities, recognizing her as a pioneer in a male-dominated field. 

National Sports Governance Bill, 2025: Bringing BCCI Under RTI and Sports Reform Framework

In the News: Union Sports Minister Mansukh Mandaviya introduced the National Sports Governance Bill, 2025, in the Lok Sabha, marking a pivotal step toward enhancing transparency, accountability, and athlete-centric reforms in Indian sports administration.

Key Points:

• Institutional Reform: The bill proposes creating a National Sports Board (NSB) empowered to recognize or derecognize sports federations (including BCCI), enforce governance standards, and ensure compliance with international norms.
• Judicial Redressal Mechanism: Establishment of a National Sports Tribunal with civil court powers to swiftly resolve sports-related disputes; appeals permitted only to the Supreme Court.
• Athlete and Gender Representation: Executive Committees limited to 15 members, mandating at least two athletes of outstanding merit and four women, and instituting age/tenure caps (maximum age 70, extendable to 75; maximum 12 years in office).
• Transparency via RTI: All recognized National Sports Federations—including the BCCI—will fall under the Right to Information Act, 2005, exposing them to public accountability.
• Election Oversight: A National Sports Election Panel—comprised of retired Election Commission officials—will supervise free, fair, and transparent elections in federations.
• Government Controls: The central government can authorize use of national insignia, relax provisions in special cases, and restrict participation of national teams on public-interest grounds . 

Indigenous Anti-Submarine Warfare Ship Ajay

In the News: Garden Reach Shipbuilders and Engineers (GRSE) launched Yard 3034 Ajay, the eighth and final vessel in the Indian Navy’s Anti‑Submarine Warfare Shallow Water Craft (ASW‑SWC) series. This milestone marks completion of the ASW‑SWC fleet project under the Make In India and Aatmanirbhar Bharat initiatives.

Key Points:

• Project Closure: Ajay, commissioned as Yard 3034, was launched at GRSE’s Kolkata shipyard on July 21, 2025. It is the final ASW‑SWC to complete the eight-ship series.
• Indigenous Design: Designed and built entirely in India, Ajay has over 80% domestic content—from sensors to weapons—underscoring India’s push for self-reliant defence production.
• Legacy Heritage: The new Ajay continues a legacy dating to 1961, when the first ship of the same name—India’s first domestically built warship—was commissioned from GRSE
• ASW Capabilities: Equipped with hull-mounted sonar, low-frequency variable depth sonar (LFVDS), torpedoes, anti-submarine rockets, NSG‑30 gun, and 12.7 mm stabilized remote-controlled gun, enhancing underwater threat detection in littoral zones.
• Propulsion & Tech: Powered by diesel engines with water-jet propulsion, the vessel offers high maneuverability in shallow waters. It includes advanced communication, electronic warfare systems, and mission-combat-management integration.
• Strategic Impact: Becoming the eighth ASW‑SWC strengthens India’s coastal defence and submarine-hunting capacity, fulfilling its commitment to bolster maritime security in the Indian Ocean.