CURRENT AFFAIRS
11&12 June, 2025
1. WORLD BANK’S GLOBAL ECONOMIC PROSPECTS REPORT –
• Recently, The World Bank released its biennial Global Economic Prospects report.
About the Global Economic Prospects report
• It provides insights into global economic trends, forecasts, and risks and provides growth projections for different countries and regions
Key findings of the report
India’s Growth Projections
• Fastest Growing Large Economy: India is expected to remain the fastest-growing large economy in the world.
• FY2025/26: Growth is projected at 6.3%, though this forecast was slightly reduced (by 0.4 percentage points) from earlier predictions due to:
• The FY2026-27 projection was cut by 20 basis points to 6.5%, while FY2027-28 growth is expected to reach 6.7%.
• Strong services sector performance is expected to boost exports and sustain economic activity.
India’s Domestic Policy and Debt
• RBI’s Role: The Reserve Bank of India (RBI) cut its key interest rate by 50 basis points (total 100 bps in 2025) to 5.50%.
• This was done to encourage domestic spending and investment, as inflation is low (projected 3.7% for FY26).
• Growth Forecast Discrepancies: While the RBI expects 6.5% growth for FY26, many economists outside the government predict closer to 6%. The Indian government forecasts 6.3-6.8%.
• Previous Year’s Growth: India’s GDP growth slowed to 6.5% in FY25 (from 9.2% in the previous year) due to slower industrial production, despite strong services and agriculture.
• Fiscal Consolidation: The World Bank expects India to continue reducing its government debt.
• Growing tax revenues and lower spending are expected to help reduce the public debt-to-GDP ratio.
• The Indian government aims to reduce this ratio to 50% (49-51%) by FY31 from an estimated 56.1% in FY26.
2. GIG ECONOMY IN INDIA TO REACH 62 MILLION WORKERS BY 2047: GOVT STUDY –
• Gig workforce in India to grow to 62 mn by 2047, according to study by the labour ministry.
• The study by the labour ministry-affiliated VV Giri National Labour Institute (VVGNLI) used estimates from a 2022 NITI Aayog report on gig workers.
About Gig Economy
• A gig economy is a labor market that relies on independent contractors and freelancers rather than full-time permanent employees.
• In recent years, the global job market has witnessed a transformative shift with the rise of ‘gigification’ or adoption of the gig model – reshaping how we work. They include the following:
• freelancers who get paid per task;
• independent contractors who perform work and get paid on a contract-to-contract basis;
• project-based workers who get paid by the project;
• temporary hires who are employed for a fixed amount of time; and
• part-time workers who work less than full-time hours.
• Gig worker: Individual who engages in short-term, flexible, or task-based work, typically as an independent contractor or freelancer, rather than as a full-time employee with a traditional employer-employee relationship.
3. INDIA SLIPS TO 131ST IN WEF GENDER GAP INDEX 2025 –
• The 19th edition of the Global Gender Gap Report was released on June 12, 2025 by the WEF. India dropped two spots to 131st out of 148 nations. The report shows mixed results for India, with some improvement in economic participation but a decline in political empowerment, especially in Parliament and ministerial representation.
Global Snapshot
• Global gender gap closed to 68.8%, the strongest progress since COVID-19.
• Full global gender parity is still 123 years away at the current pace.
• Top 5 countries: Iceland (1st), Finland, Norway, UK, and New Zealand.
• India’s Gender Parity Performance
• Overall Rank: 131st (Decreased 2 ranks from 129 in 2024).
• Parity Score: 64.1%, among the lowest in South Asia.
4. INDIA’S FIRST UNDERWATER MUSEUM TO BE BUILT AROUND INS GULDAR IN MAHARASHTRA –
• On June 11, 2025, Maharashtra CM Devendra Fadnavis virtually attended the launch of India’s first underwater museum project, marking a significant step in promoting sustainable tourism and marine ecosystem restoration.
• The decommissioned INS Guldar, which served the Indian Navy until January 2024, has been handed over to the Maharashtra Tourism Development Corporation (MTDC) to transform it into a submerged attraction.
Aims and Objectives
• Convert INS Guldar into an underwater museum to promote marine tourism.
• Create an artificial coral reef to support marine biodiversity.
• Offer new tourism opportunities including scuba diving and future submarine tours.
• Preserve naval heritage by repurposing a historic vessel.
About INS Guldar
• INS Guldar was a 1,120-ton Landing Ship Tank (LST) in the Indian Navy.
• It was decommissioned in January 2024 after years of service.
• The ship has undergone environmental cleaning to make it suitable for submersion without harming marine ecosystems.
5. INDIAN ARMY PARTICIPATES IN EXERCISE KHAAN QUEST 2025 IN MONGOLIA –
• The Indian Army joined over a dozen nations in Mongolia for Exercise Khaan Quest 2025, a prominent multinational training drill focused on U.N. peacekeeping operations. The exercise begins on June 14, 2025, and comes at a time when the importance of global peacekeeping missions is growing due to geopolitical instability.
Aims and Objectives
• Enhance peacekeeping capabilities of participating nations in a multinational environment.
• Improve interoperability, coordination, and combat readiness for operations under U.N. mandates.
• Provide hands-on training in real-world conflict simulation scenarios.
Background of Khaan Quest
• Started in 2003 as a bilateral drill between the U.S. and Mongolia.
• Became a multinational peacekeeping exercise in 2006.
• Khaan Quest 2025 is the 22nd edition.
• Held annually in Mongolia; the 2024 edition ran from July 27 to August 9.
MCQ QUIZ
Q1. Shahed drones are developed by which country ?
a) Iran
b) Israel
c) Ukraine
d) India
Q2. Sree Padmanabhaswamy Temple is located in which state?
a) Karnataka
b) Maharashtra
c) Kerala
d) Odisha
Q3. Pradhan Mantri Surakshit Matritva Abhiyan (PMSMA) was launched by which ministry ?
a) Ministry of Women and Child Development
b) Ministry of Social Justice and Empowerment
c) Ministry of Rural Development
d) Ministry of Health and Family Welfare
Q4. Which government body is primarily responsible for conducting the Census in India ?
a) Ministry of Statistics and Programme Implementation
b) National Sample Survey Office
c) Ministry of Home Affairs
d) Ministry of Planning
Explanation-
• The Census in India is conducted by the Office of the Registrar General and Census Commissioner of India, which operates under the Ministry of Home Affairs. This office plans, supervises, and conducts the entire enumeration process, including the design of schedules and field operations.
Q5. Which of the following statements about the Ayush Nivesh Saarthi Portal are correct ?
1. It promotes 100% Foreign Direct Investment (FDI) in the Ayush sector.
2. It only targets Indian investors and excludes international outreach.
3. It provides real-time dashboards for project tracking and approval assistance.
4. It offers multilingual support for global investors.
How many of the above statements are correct?
a) Only one
b) Only two
c) Only three
d) All four
Explanation-
• Statements 1, 3, and 4 are correct. The portal encourages 100% FDI in the Ayush sector (Statement 1), offers real-time facilitation like dashboards and approval tracking (Statement 3), and includes multilingual features for global outreach (Statement 4). Statement 2 is incorrect as the platform targets both Indian and international investors, not just Indian stakeholders.
Answer Key
1 | 2 | 3 | 4 | 5 |
A | C | D | C | C |