07^th October 2025

1. Securities Transaction Tax: Recently, the Supreme Court of India agreed to examine the constitutional validity of the Securities Transaction Tax (STT).

• About STT: The Finance Act, 2004 introduced the Securities Transaction Tax (STT) as a transparent and efficient mechanism to collect taxes from financial market transactions.

• Objective: To curb tax evasion, particularly by ensuring that profits from the sale of stocks were properly declared and taxed under capital gains.
• STT is a direct tax imposed on every purchase and sale of securities listed on recognized stock exchanges in India.
• It is charged in addition to the transaction value, thereby increasing the overall cost of the transaction.
• The tax is governed by the Securities Transaction Tax Act (STT Act), which specifies the types of securities transactions subject to STT.
• The rate of STT is determined and periodically revised by the Government of India, as required.
• Taxable Securities Include: Shares, scrips, stocks, bonds, and debentures
  - Derivatives such as futures and options
  - Government securities of an equity nature, etc.

2. Marine Stewardship Council: Recently, India decided to get several marine and saline fish and shrimp varieties certified by the global Marine Stewardship Council (MSC) by 2026.

• Key Highlights: Around 10 Indian marine and saline fish and shrimp varieties will soon receive MSC certification, with seven more under process.

• The first batch for certification will be submitted in 2026.
• Certification could raise fisheries revenue by 30% and help find new markets beyond the U.S., especially in Europe and Japan.
• Government support: The PMMSY scheme will subsidize the certification cost, handled by third-party auditors.
• Objective: Promote eco-friendly and sustainable fishing while ensuring steady income for fishing communities.
• Technical gaps, such as stock assessments for shrimp, squid, cuttlefish, and octopus, are being finalized.
• MSC certification aligns with FAO’s Responsible Fishing Code and Eco-labelling Guidelines.
• Currently, 20% of global fisheries hold MSC certification.

3. Jal Jeevan Mission: Recently, the Union government decided to map all Jal Jeevan Mission (JJM) assets, including drinking water pipelines, on the PM Gati Shakti GIS-based infrastructure platform to boost coordination and transparency.

• Key Highlights: A Memorandum of Agreement (MoA) was signed between the Department of Drinking Water and Sanitation (DDWS) under the Ministry of Jal Shakti and the Bhaskaracharya National Institute for Space Applications and Geo-informatics (BISAG-N), which developed the Gati Shakti platform.

• The platform will create unique scheme-level IDs for Rural Piped Water Supply Schemes (RPWSS) and enable granular monitoring of household-level water delivery.
• BISAG-N will provide end-to-end support, including database design, software development, systems integration, ground surveys, photogrammetry, vector mapping, and thematic mapping.
• Jal Jeevan Mission (JJM) was launched in 2019 to provide functional tap connections to all 17 crore rural households by 2024, ensuring 55 litres per capita per day (lpcd) of BIS-standard potable water.
• The extension of JJM till 2028 is awaiting final approval from the Union Cabinet.

4. MGNREGA: Recently, the Union government introduced a major policy shift linking employment generation with water security. It amended Schedule-I of the MGNREGA, 2005, to mandate minimum spending on water conservation and harvesting works at the block level.

• Key Highlights: This amendment introduces a block-level spending requirement based on groundwater extraction categories, replacing the earlier district-level mandate.

• The new provision mandates that a minimum proportion of MGNREGA funds must be used for water-related works depending on the block’s groundwater status as classified by the Central Ground Water Board (CGWB):
  - Over-exploited blocks (groundwater extraction >100%): Minimum 65% of funds
  - Critical blocks (90–100% extraction): Minimum 65% of funds
  - Semi-critical blocks (70–90% extraction): Minimum 40% of funds
  - Safe blocks (≤70% extraction): Minimum 30% of funds
• The amendment specifies that CGWB’s Dynamic Ground Water Resources Assessment Report will be used to determine these priority categories.
• This is the 24th amendment to MGNREGA’s Schedule-I since its enactment in 2005.

5. India and Australia: Recently, India and Australia moved to sign a Joint Defence and Security Cooperation Declaration to strengthen their Indo-Pacific partnership.

• Key Highlights: The visit aims to advance strategic dialogue on bilateral and regional security issues, including maritime security and Indo-Pacific stability.

• Both nations are developing a Maritime Security Road Map to enhance maritime domain awareness and cooperation in the Indian Ocean Region (IOR).
• Australia recognizes India’s growing defence manufacturing capabilities, expressing interest in future collaboration and sourcing high-end defence equipment from Indian firms.
• The year 2025 marks the fifth anniversary of the India–Australia Comprehensive Strategic Partnership, which has expanded into multiple sectors — including defence, trade, education, and renewable energy.
• A key milestone is the Air-to-Air Refuelling Implementing Arrangement, India’s first such agreement with any foreign partner, improving interoperability between the two air forces.
• India has joined major bilateral and multilateral military exercises with Australia, including:
  - Exercise Talisman Sabre (India’s first participation in 2025)
  - Exercise Kakadu, Exercise Milan, International Fleet Reviews
  - Exercise Cope India and Exercise Tarang Shakti, featuring the RAAF

6. Competition Commission of India: Recently, the Competition Commission of India (CCI) released a comprehensive report titled “Market Study on Artificial Intelligence and Competition.” The study was conducted through the Management Development Institute Society (MDIS).

• Key Findings: The study’s objective was to understand AI markets and ecosystems, identify emerging and potential competition issues, and review existing and evolving regulatory frameworks governing AI systems.

• The research methodology combined secondary and primary research — including literature review, data analysis, and stakeholder interviews, and surveys — to gain a comprehensive understanding of India’s AI ecosystem.
• The study highlights that AI adoption in India is accelerating rapidly across multiple sectors, reshaping competition dynamics, business operations, and regulatory responses.
• While AI brings major benefits such as efficiency, innovation, and improved consumer experience, it also presents competition risks — including data dominance, algorithmic bias, entry barriers, and market concentration.
• The report notes that AI-related competition concerns may directly or indirectly affect innovation, market access, and consumer choice if left unregulated.
• The study also examines legal and regulatory developments in India and globally to ensure frameworks evolve in pace with AI advancements.

7. Carbon Capture and Storage: Recently, a report by Climate Analytics warned that Asia’s growing reliance on carbon capture and storage (CCS) as a climate solution could backfire dramatically.

• Key Findings: The report estimates that a “high-CCS” pathway across Asia could lead to an additional 25 billion tonnes of CO₂ emissions by 2050 — equivalent to the lifetime emissions of South Korea and Australia combined.

• It finds that most CCS projects in Asia — particularly in China, India, Japan, South Korea, and Indonesia — are designed more to extend fossil fuel lifespans than to actually cut emissions.
• Asia accounts for over half of global fossil fuel and greenhouse gas emissions, making its climate strategy critical for meeting Paris Agreement targets.
• Countries such as Japan and South Korea are bankrolling CCS-linked hydrogen and ammonia projects, while Australia and Indonesia aim to become regional CO₂ storage hubs.
• Malaysia and Thailand have even amended laws to attract CCS investments.
• The study highlights that renewables now outcompete fossil fuels across Asia:
  - Solar energy in India, China, and Vietnam is up to 50% cheaper than new coal or gas plants.
  - Battery prices have dropped nearly 70% in four years, enabling reliable renewable energy supply.
• In heavy industries such as steel, cement, and fertilizers, the report promotes green hydrogen, recycled steel, and carbon-neutral cement as viable low-emission alternatives.

8. Atal Tinkering Labs: Recently, the Atal Innovation Mission (AIM) under NITI Aayog and the Indo-French Chamber of Commerce & Industry (IFCCI) signed a Statement of Intent (SoI) to expand and strengthen Atal Tinkering Labs (ATLs) across India.

• Key Highlights: The SoI aims to strengthen industry–education linkages by mobilizing CSR support from IFCCI’s Indo-French corporate network to expand STEM education, digital literacy, and innovation-driven learning.

• The partnership focuses on enhancing ATL infrastructure, improving curriculum delivery, and enabling deeper engagement between industries and schools.
• The collaboration will: Identify and support selected government schools for ATL implementation and upgradation.
  - Provide teacher training to strengthen innovation-based pedagogy.
  - Organize innovation challenges and competitions to foster creativity.
  - Build a sustainable ecosystem of learning and entrepreneurship.

9. International Labour Organization: Recently, a new International Labour Organization (ILO) report titled “The State of Social Justice: A Work in Progress” warned of rising inequality, declining trust in institutions, and sluggish progress.

• Key Findings: ILO defines social justice as the right of every individual to pursue material prosperity and spiritual growth in freedom, dignity, and equality.
• The world in 2025 is wealthier, healthier, and better educated than in 1995.
• Key achievements highlighted: Work-related deaths have fallen by over 10% since 2000.
  • Extreme poverty declined from 39% to 10% of the global population.
  • Working poverty dropped from 28% to 7%.
  • Informal employment has declined by only 2% in two decades, still affecting 58% of workers.
  • The gender labour participation gap remains at 24%, narrowing by only 3% since 2005.
  • The number of children in hazardous labour remains unacceptably high, despite overall progress.
  • The report identifies three major transitions reshaping labour markets:
    - Environmental transitions – Climate policies risk displacing workers in carbon-intensive sectors unless supported by just transition frameworks.
    - Digital transformation – May widen inequalities in skills, access, and employment without inclusive digital policies.
    - Demographic changes – Ageing populations in some regions and youth bulges in others will strain social protection and employment systems.