Stay updated with the most important current affairs today from January 20, 2025. This compilation highlights crucial developments for judicial and law examination aspirants, covering topics like India’s economic growth projections, the revival of public sector enterprises, skill development initiatives, and international collaborations.
Table of Contents of Current Affairs Today
IMF Retains India’s Growth Outlook at 6.5% Over the Next Two Financial Years
The International Monetary Fund (IMF) has reaffirmed India’s economic growth projection at 6.5% for FY26 and FY27. Despite a slowdown in industrial activity, India remains a global leader in economic growth.
World Bank Growth Forecast
- The World Bank projects India’s growth at 6.7% for FY26 and FY27, emphasizing its position as the fastest-growing major economy globally.
- Growth will be supported by an expanding services sector and manufacturing initiatives like infrastructure enhancement and tax reforms.
Other Estimates
- National Statistics Office (NSO): Estimates FY25 growth at 6.4%, the lowest in four years.
- Reserve Bank of India (RBI): Projects slightly higher growth at 6.6%.
Global Growth and Risks
- Global Growth Projections: IMF predicts steady global growth at 3.3% for 2025 and 2026.
- Key Risks: Protectionist policies, geopolitical tensions, and renewed inflationary pressures may disrupt trade and economic stability.
Significance for India
India’s growth outlook highlights its resilience and potential to maintain economic momentum amid global uncertainties.
Cabinet Approves ₹11,440 Crore Revival Package for Rashtriya Ispat Nigam Limited (RINL)
The Union Cabinet has approved a revival package worth ₹11,440 crore for Rashtriya Ispat Nigam Limited (RINL), also known as the Visakhapatnam Steel Plant.
Key Components of the Package
- Equity Infusion: ₹10,300 crore as equity capital.
- Loan Conversion: ₹11,440 crore of working capital loans converted into 7% non-cumulative preference share capital, redeemable after 10 years.
Significance
- Aims to resolve RINL’s operational and financial challenges.
- Ensures full production capacity with all three blast furnaces operational by August 2025.
Steps for Revival
- Securing raw materials and modernizing the plant.
- Aligning operations with the National Steel Policy, 2017.
This revival will stabilize the Indian steel market and secure the livelihoods of RINL employees.
Odisha Signs 8 MoUs with Singapore Organizations for Skill Development and Green Energy
Odisha signed eight MoUs with Singapore organizations to boost sectors like green hydrogen, petrochemicals, semiconductors, and industrial parks.
Key Initiatives
- Green Hydrogen Corridor: IDCO partnered with Sembcorp to develop industrial parks.
- Skill Development: Advanced courses in AI, marine engineering, and semiconductors to be introduced at the World Skill Center, Bhubaneswar.
- New Energy Sector: Collaboration with Nanyang Technological University (NTU) and IIT Bhubaneswar for renewable energy projects.
Significance
These initiatives aim to foster innovation, attract investment, and accelerate Odisha’s economic and technological growth.
China Launches Tianlu-1 Satellite for Middle and Upper Atmosphere Research
China successfully launched the Tianlu-1 satellite, developed by GalaxySpace, for advanced atmospheric research.
Key Features
- Equipped for limb-sounding detection to monitor atmospheric density, temperature, and wind fields.
- Supports climate change studies, extreme weather forecasting, and space weather research.
Technological Advancements
- Introduces innovative remote sensing techniques for high-resolution data collection.
- Enhances China’s capabilities in satellite communication and navigation systems.
This launch marks the 556th mission of the Long March rocket series, showcasing China’s growing dominance in space exploration.
India Semiconductor Mission Signs Fiscal Support Agreement with CG Power
The India Semiconductor Mission (ISM) signed a Fiscal Support Agreement (FSA) with CG Power and CG Semi to bolster India’s semiconductor ecosystem.
Key Details
- Investment: ₹7,600 crore to establish an OSAT (Outsourced Semiconductor Assembly and Test) unit in Gujarat.
- Fiscal Support: 50% financial assistance for eligible capital expenditure under the Modified Semiconductor Program.
Significance
This agreement aligns with India’s vision of becoming a global semiconductor hub, targeting $500 billion in electronics production by 2030.
IREDA Finalizes Joint Venture for 900 MW Hydroelectric Project in Nepal
The Indian Renewable Energy Development Agency (IREDA) has partnered with SJVN Ltd., GMR Energy Ltd., and the Nepal Electricity Authority (NEA) to develop the 900 MW Upper Karnali Hydroelectric Project in Nepal.
Key Highlights
- Operates under a Build-Own-Operate-Transfer (BOOT) model for 25 years.
- Focuses on sustainable energy development and regional energy security.
This initiative strengthens cross-border energy collaboration and advances India’s renewable energy goals.
Centre Simplifies Local Cable Operator Registration Process
The Ministry of Information and Broadcasting (MIB) announced amendments to the Cable Television Network Rules, 1994, streamlining the registration process for Local Cable Operators (LCOs).
Key Changes
- Online Registration: Transition to a fully online system via the Broadcast Seva Portal.
- Real-Time Certificates: Instant issuance of registration certificates after verification.
- Simplified Renewal Process: Five-year registration validity with a nominal fee of ₹5,000.
These changes promote transparency and ease of operation for LCOs nationwide.
SVAMITVA Scheme: PM Modi to Distribute 65 Lakh Property Cards
Prime Minister Narendra Modi will distribute property cards to over 65 lakh rural property owners under the SVAMITVA Scheme, aimed at rural empowerment.
Key Features
- Uses drone and GIS technologies for accurate property surveys.
- Facilitates property monetization, credit access, and dispute reduction.
This initiative supports rural governance and economic equality, ensuring landowners have secure property rights.
Russia and Iran Sign Comprehensive Strategic Partnership
Russian President Vladimir Putin and Iranian President Masoud Pezeshkian signed a comprehensive strategic partnership agreement in Moscow.
Key Areas of Cooperation
- Trade and Energy: Collaboration in oil, gas, and agriculture.
- Defense and Security: Joint efforts in counterterrorism and arms supply.
This agreement strengthens bilateral relations and reinforces their shared opposition to U.S. sanctions.
Conclusion
From India’s resilient economic growth outlook to international collaborations in technology and energy, January 20, 2025, has been marked by significant developments across multiple sectors. These updates are crucial for aspirants preparing for judiciary and law exams, offering insights into economic, legal, and global trends.
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