Daily Current Affairs (19 – Dec – 25)

Daily Current Affairs (19 – Dec – 25)

1. Sabka Bima, Sabki Raksha Bill, 2025 –

• The Lok Sabha has passed the Sabka Bima, Sabki Raksha (Amendment of Insurance Laws) Bill, 2025, proposing to raise the Foreign Direct Investment (FDI) limit in the insurance sector from 74% to 100%.  
• The move is positioned as a key reform to deepen insurance coverage and advance the goal of “Insurance for All by 2047.”

What are the Key Provisions of the Sabka Bima, Sabki Raksha (Amendment of Insurance Laws) Bill, 2025?

• 100% FDI in Insurance: The Bill raises the foreign direct investment limit in insurance companies from 74% to 100%, allowing full foreign ownership to attract long-term capital, advanced technology, and global best practices.
• Amendments to Insurance Laws:It updates the Insurance Act, 1938, LIC Act, 1956, and Insurance Regulatory and Development Authority (IRDA) Act, 1999 to reflect sectoral reforms and regulatory strengthening.
• Reinsurance Liberalisation: The Net Owned Fund requirement of Foreign Reinsurance Branches is reduced from Rs 5,000 crore to Rs 1,000 crore, this aims to deepen the reinsurance market and promote India as a regional hub.
• Net Own Funds (NOF) refers to the minimum capital that a reinsurance entity must maintain as a financial buffer to ensure solvency and meet claim obligations.
• Policyholders’ Education and Protection Fund:It will be set up to promote insurance awareness and safeguard consumer interests, while policyholders’ data must be collected and protected in line with the Digital Personal Data Protection (DPDP) Act, 2023.
• Stronger Powers for IRDAI: The Bill significantly enhances IRDAI’s enforcement authority, enabling it to investigate violations, curb illegal commissions and rebates, and ensure stricter compliance by insurers and intermediaries.
• The IRDAI Chairperson can order searches, inspections, and seizures where records are withheld or tampered with.
• IRDAI can deploy officers to scrutinise returns, statements, and disclosures submitted by insurers, improving transparency and regulatory vigilance.
• Greater Autonomy for LIC: LIC is granted operational freedom to open new zonal offices without prior government approval, enabling quicker expansion and better regional management.
• Eased Compliance Regime: Procedural and compliance requirements are simplified to improve ease of doing business while maintaining consumer protection.

2. India’s Net Direct Tax Collections Rise 8% to ₹05 Lakh Crore Till December 17 –

• India’s fiscal position showed resilience in the current financial year as net direct tax collections increased by 8% to INR 17.05 lakh crore up to 17 December 2025, according to data released by the Income Tax Department. The growth has been supported mainly by robust corporate tax collections and a significant decline in tax refunds. This development highlights steady economic activity and the impact of recent tax reforms undertaken by the government.

Key Tax Collection Data

• Between 1 April and 17 December 2025, India’s net direct tax collections stood at ₹17,04,725 crore, compared to ₹15,78,433 crore during the same period last year.
• During this period, gross direct tax collections rose by 4.16% year-on-year to ₹20,01,794 crore.
• The difference between gross and net collections is largely explained by the amount of tax refunds issued, which declined notably in the current financial year.

3. India to Get Its First Forest University in Gorakhpur, Uttar Pradesh –

• India is preparing to set up its first ever Forest University in Gorakhpur, Uttar Pradesh. Marking a major step in advancing education and research in forestry, wildlife conservation, and environmental sciences. The project reflects the growing national focus on biodiversity protection, climate change mitigation, and sustainable natural resource management.

Location and Infrastructure

• City: Gorakhpur, Uttar Pradesh
• Campus Size: Around 125 acres
• Nearby Landmark: Jatayu Conservation and Breeding Centre
• Initial Allocation: ₹50 crore provided in the state budget

Planned facilities include,

• Academic blocks and research laboratories
• Hostels for about 500 students
• Separate accommodation for male and female students
• Auditorium, sports facilities, and faculty residences

Academic Focus

• The university will offer degree and diploma programmes in areas such as,
• Forestry and Agroforestry
• Social Forestry
• Horticulture
• Wildlife Conservation
• Environmental and Climate Studies
• Biotechnology related to ecosystems

4. Brazil Hands Over BRICS Presidency to India –

• Brazil officially transferred the BRICS presidency to India on December 12, 2025, during the concluding session of the 4th BRICS Sherpas Meeting. The ceremonial handover marked a leadership transition within the bloc as India prepares to steer BRICS discussions and initiatives in 2026.

Background: What is BRICS

• BRICS is a grouping of major emerging economies comprising Brazil, Russia, India, China, and South Africa, aimed at promoting cooperation among Global South countries in areas such as development, trade, finance, and global governance reform.
• The presidency of BRICS rotates annually among member states.
• The Handover Ceremony
• Brazil’s Sherpa Ambassador Mauricio Lyrio handed over the symbolic BRICS gavel to India’s Sherpa Ambassador Sudhakar Dalela
• The handover took place at the end of the 4th Sherpas Meeting
• The gavel symbolizes the official transfer of leadership and responsibility
• Although the ceremony took place in mid-December, Brazil will formally remain BRICS president until December 31, 2025.

5. India–Oman CEPA Signed to Boost Trade and Investment –

• India and Oman have signed a Comprehensive Economic Partnership Agreement (CEPA), marking a major milestone in India’s economic engagement with the Gulf region. Also reinforcing its strategy of forging high-quality trade agreements with non-competing economies. The agreement was signed in the presence of Prime Minister Shri Narendra Modi and His Majesty Sultan Haitham bin Tarik, underscoring its strategic and political significance.

Overview

• Signed by Commerce & Industry Minister Shri Piyush Goyal and Oman’s Minister of Commerce, Industry & Investment Promotion H.E. Qais bin Mohammed Al Yousef.
• First bilateral trade agreement signed by Oman since its FTA with the USA in 2006.
• India’s second Free Trade Agreement in the last six months, after the UK.
• Bilateral trade currently exceeds USD 10 billion, with significant scope for expansion.

MCQ Quiz

Q1. What is the main objective of the BharatNet Project ?

1. a) To provide free smartphones to rural households
2. b) To establish satellite-based communication only in metros
3. c) To lay railway lines in rural India
4. d) To provide broadband connectivity to all Gram Panchayats

Q2. Who has become the first woman officer to graduate from the Indian Military Academy (IMA), Dehradun ?

1. a) Bhavna Sharma
2. b) Sai Jadhav
3. c) Anjali Verma
4. d) Priya Singh

Q3. In 2025, India signed a tripartite MoU with Brazil and which Indian entity to strengthen cooperation in the maintenance of Scorpene-class submarines ?

1. a) Hindustan Shipyard Limited (HSL)
2. b) Mazagon Dock Shipbuilders Limited (MDL)
3. c) Cochin Shipyard Limited (CSL)
4. d) Bharat Electronics Limited (BEL)

Q4. Match the following Tiger Reserves with their respective States:

Tiger Reserve        State

1. Simlipal 1. Jharkhand
2. Palamau 2. Chhattisgarh
3. Guru Ghasidas 3. Odisha
4. Udanti-Sitanadi 4. Chhattisgarh

Select the correct answer code:

1. a) A-2, B-3, C-1, D-4
2. b) A-1, B-3, C-4, D-2
3. c) A-3, B-1, C-4, D-2
4. d) A-3, B-1, C-2, D-4

Explanation-

• Simlipal Tiger Reserve is located in the Mayurbhanj district of Odisha and is one of the earliest Project Tiger reserves, known for its semi-evergreen forests and tiger-elephant habitat.
• Palamau Tiger Reservelies in Jharkhand and is part of the Betla National Park; it is one of India’s original nine Tiger Reserves established under Project Tiger in 1973.
• Guru Ghasidas National Park, carved out of the former Sanjay National Park, was declared a Tiger Reserve in Chhattisgarh in 2021 and shares its boundary with Madhya Pradesh. It plays a critical role as a corridor for tiger movement between Bandhavgarh and Palamau ranges.
• Udanti-Sitanadi Tiger Reserve, also inChhattisgarh, is known for its undulating terrain and is home to species like the endangered wild buffalo.

Q5. Consider the following statements regarding the Honey Mission in India:

• The mission is primarily focused on increasing honey production for domestic consumption only.
• The Central Bee Research and Training Institute (CBRTI) in Pune is the key institution for skill development under this mission.
• The mission provides holistic support, including processing, marketing, and enabling sales on the Government e-Marketplace (GeM) portal.

How many of the above statements is/are incorrect ?

1. a) Only one
2. b) Only two
3. c) All three
4. d) None

Explanation-

• Statement 1 is incorrect. While meeting domestic demand is important, a significant component of the mission’s success is its contribution to exports. In FY 2024–25, honey exports under KVIC touched ₹25 crore, and India is among the top 10 honey exporters. This shows a clear focus on both domestic and international markets.
• Statement 2 is correct. More than 50,000 beekeepers have been trained through CBRTI, Pune, in modern apiculture techniques. This identifies CBRTI as the principal training centre for the mission.
• Statement 3 is correct. The mission employs a holistic model. It doesn’t just focus on production but supports the entire value chain, which includes setting up processing plants, marketing support, and providing digital access for sales, with a specific example of enabling beekeepers to sell their products on the GeM portal.