CURRENT AFFAIRS 05 June 2025

CURRENT AFFAIRS

05 June, 2025

1.      SCHEME TO PROMOTE MANUFACTURING OF ELECTRIC PASSENGER CARS IN INDIA (SPMEPCI) –

•        The Ministry of Heavy Industries has unveiled detailed guidelines for the “Scheme to Promote Manufacturing of Electric Passenger Cars in India” (SPMEPCI).

About the Scheme to Promote Manufacturing of Electric Passenger Cars in India

•        This scheme aims to attract global EV manufacturers, strengthen India’s position as a global EV hub, and support the country’s net-zero emissions goal by 2070. 

•        Nodal Ministry: Ministry of Heavy Industries.

•        Launched in: 2024

•        Implementation: Project Management Agency (PMA) is responsible for providing secretarial, managerial and implementation support.

Objectives of the Scheme 

•        Attract Foreign Investment: Encourage global automakers to set up EV manufacturing units in India. 

•        Boost ‘Make in India’: Promote domestic production with mandatory local value addition (DVA) requirements. 

•        Reduce Carbon Footprint: Accelerate the shift to electric mobility for a sustainable future. 

2.      FIRST FUSION-FISSION HYBRID REACTOR: CHINA UNVEILS XINGHUO –

•        China has unveiled plans to construct the world’s first fusion-fission hybrid nuclear reactor, named Xinghuo (“spark” in Mandarin).

•        The fusion-fission hybrid reactor aims to significantly enhance nuclear energy efficiency and sustainability, marking a major shift in global energy production.

•        China aims for a Q factor greater than 30 (the ratio of energy produced to energy consumed for plasma heating).

•        ITER (France) targets a Q factor of 10.

•        U.S. projects have reached a Q factor of 1.5.

•        The project is expected to surpass current efforts in nuclear energy development, including those in the United States, by 2030.

•        About Fusion-Fission Hybrid Reactor

•        The Xinghuo fusion-fission hybrid reactor represents a pioneering approach to nuclear energy generation by merging two distinct nuclear processes—fusion and fission:

•        Concept

•        The Xinghuo reactor uses the high-intensity neutron flux produced by a fusion reactor to drive a nuclear fission reaction.

•        Additionally, the fusion neutrons help breed fissile fuel from fertile materials, ensuring a sustainable supply of fuel for the reactor.

3.      INDIA FINISHES SECOND AT ASIAN ATHLETICS CHAMPIONSHIPS 2025 WITH 24 MEDALS –

•        India’s impressive medal haul at the 26th edition of the Asian Athletics Championships has attracted national attention due to standout individual and team performances, several national records, and successful title defenses in key events.

•        The championships also served as a preparatory stage for Indian athletes eyeing qualification for the Paris 2026 Olympics.

Overview of India’s Participation

•        Total Indian athletes: Over 60

•        Events contested: 30 (15 men’s, 14 women’s, 1 mixed)

•        Championship dates: May 27–31, 2025

•        Host city: Gumi, Republic of Korea

•        India’s position: 2nd overall

•        China: Topped the medal table

4.      BANGLADESH UNVEILS NEW BANKNOTES, DROPS MUJIBUR RAHMAN’S PORTRAIT –

•        The unveiling of these new banknotes comes at a time of deep political transition in Bangladesh. With Sheikh Hasina’s government ousted in 2024 and the country currently led by an interim advisory council, the decision to remove Mujibur Rahman’s portrait is seen as an attempt to present a more neutral and inclusive national identity.

•        The issue also coincides with legal proceedings against Hasina, adding to the relevance and controversy surrounding this monetary redesign.

•        Key Highlights of the New Banknotes

•        The new banknotes are of three denominations: Taka 1000, Taka 50, and Taka 20.

•        The design excludes human portraits entirely.

Instead, they feature,

•        Natural landscapes

•        Archaeological sites

•        Hindu and Buddhist temples, reflecting the country’s cultural and historical diversity.

•        Leadership & Execution

•        Unveiled by Chief Adviser Muhammad Yunus.

•        Banknotes were handed over by Bangladesh Bank Governor Dr. Ahsan H. Mansur.

5.      INDIA TO CONDUCT POPULATION CENSUS 2027 IN TWO PHASES WITH CASTE ENUMERATION –

•        The Ministry of Home Affairs recently announced that the Population Census 2027 will include caste enumeration and will be conducted in two phases, reaffirming the government’s intent to modernize and update demographic data crucial for governance, planning, and social welfare schemes.

•        The notification of the census will be published in the Official Gazette on June 16, 2025, under Section 3 of the Census Act, 1948.

Background of Census in India

•        The Census of India is governed by the Census Act, 1948 and Census Rules, 1990.

•        The last full population census was conducted in 2011, with over 1.2 billion people enumerated.

•        The 2021 Census was postponed due to the COVID-19 pandemic, despite all preparatory work being completed.

MCQ QUIZ

Q1.  Recently, Valmik Thapar, noted wildlife and tiger conservationist passed away. Which tiger reserve was especially associated with Valmik Thapar’s work ?

          a) Sundarbans

          b) Jim Corbett

          c) Ranthambore

          d) Kaziranga

Q2.  What is the name of the cloud infrastructure RBI plans to launch in 2025–26 to promote data localisation and reduce dependence on foreign cloud providers ?

          a) Bharat Cloud

          b) Indian Financial Services (IFS) Cloud

          c) FinTech Cloud

          d) Reserve Bank Cloud

Q3.  Recently, the Unified Payments Interface (UPI) transactions reached an all-time high of 18.68 billion in volume and ₹25.14 trillion in value in May 2025. By what percentage did the volume of UPI transactions increase from April 2025 to May 2025 ?

          a) 2%

          b) 3%

          c) 4%

          d) 5%

Q4.  Which of the following statements about the SPMEPCI scheme is/are correct ?

          1. The scheme allows 100% customs duty exemption for electric four-wheelers below a certain value.

          2. Manufacturers must meet a minimum 25% Domestic Value Addition (DVA) within 3 years to retain benefits.

          3. The scheme permits both greenfield and brownfield investments, subject to specific conditions.

          Select the correct answer using the code below :

          a) 1 and 2 only

          b) 2 and 3 only

          c) 1 and 3 only

          d) All four

Explanation–

•        Statement 1 is incorrect while Statements 2 and 3 are correct:  The Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI) scheme does not offer a 100% customs duty exemption for electric four-wheelers.

•        Instead, it provides a reduced customs duty rate of 15% on Completely Built Units (CBUs) with a minimum Cost, Insurance, and Freight (CIF) value of $35,000, valid for five years.

•        This is designed to attract high-value EV imports initially. The scheme mandates manufacturers to achieve at least 25% Domestic Value Addition (DVA) within three years to qualify for continued benefits.

•        Additionally, both greenfield and brownfield investments are permitted, with brownfield projects required to be physically distinct from existing facilities to ensure genuine expansion.

Q5.  The term ‘nominal GDP’ refers to:

          a) GDP adjusted for inflation

          b) GDP measured at current market prices without adjusting for inflation

          c) GDP growth rate excluding government expenditure

          d) GDP growth rate after subsidies and taxes

Explanation-

•        Nominal GDP is calculated at current market prices and includes the effects of inflation. It reflects the total value of goods and services produced in an economy before adjusting for price changes. Real GDP, in contrast, is inflation-adjusted.

Answer Key