The Indian government has doubled the effective tax on gold and silver imports from 9.2% to 18.4%, effective Wednesday. This decision, made through two notifications, aims to address India's current account deficit (CAD) exacerbated by the West Asia crisis and protect foreign exchange reserves. Prime Minister Modi had previously urged the public to reduce gold purchases. Industry experts, however, criticize the move as "retrograde" and "blunt," predicting it will likely increase smuggling rather than reduce demand, given gold's cultural significance in India. They also warn of negative impacts on employment and exports in the jewellery sector.
The effective tax on gold and silver imports has been doubled from 9.2% to 18.4%.
The government's rationale is to manage the current account deficit (CAD) and safeguard foreign exchange reserves amidst global volatility.
Industry players and experts believe the hike is a "retrograde" decision that will likely boost smuggling and negatively affect the domestic jewellery sector.
Exam Points
Effective import tax on gold and silver doubled from 9.2% to 18.4%.
Basic customs duty hiked to 10%, and Agriculture Infrastructure and Development Cess (AIDC) to 5%.
The decision came into effect on Wednesday, May 14, 2026.
The Cabinet Committee on Economic Affairs announced an increase in the Minimum Support Price (MSP) for kharif crops for the 2026-27 season. The MSP for common paddy has been raised by ₹72 per quintal to ₹2,441, with A-grade paddy at ₹2,461 per quintal. Union Minister Ashwini Vaishnaw stated that the revised MSPs would ensure returns of about 50% over the cost of production. However, farmer organizations have criticized the new rates, arguing they do not adequately account for the potential "disastrous impact" of the India-U.S. trade deal and other free trade agreements on the agriculture sector.
The Cabinet Committee on Economic Affairs approved increased MSPs for kharif crops for the 2026-27 season.
MSP for common paddy increased by ₹72 per quintal to ₹2,441.
The government aims to ensure a 50% return over the cost of production with the revised MSPs.
Exam Points
MSP for common paddy increased to ₹2,441 per quintal for 2026-27.
MSP for A-grade paddy varieties is ₹2,461 per quintal.
Union Minister Ashwini Vaishnaw announced the MSP hike.
Karnataka's Minister for School Education and Literacy, Madhu Bangarappa, announced the withdrawal of the 2022 uniform and dress code order, replacing it with a new directive. The new order permits students to wear "limited" traditional and faith-based symbols, such as sacred threads and headscarves, along with prescribed uniforms in schools and colleges. This move effectively revokes the previous BJP government's order that had led to the hijab ban. The decision follows an incident where students were asked to remove 'janivaras' during an entrance test, prompting a review of the issue to maintain institutional discipline while respecting individual beliefs.
Karnataka government has withdrawn the 2022 order on uniforms and dress code in educational institutions.
A new order allows "limited" traditional and faith-based symbols, including sacred threads and headscarves, with uniforms.
The previous 2022 order had been the basis for restrictions that led to the hijab row.
Exam Points
Karnataka Minister for School Education and Literacy is Madhu Bangarappa.
China's economic strength has dramatically grown to rival that of the U.S., as evidenced by various economic indicators. Its GDP, once 15 times smaller than the U.S. in 1990, is projected to be only 1.5 times smaller by 2025. China has maintained a strong GDP growth rate and significantly higher labour productivity growth compared to the U.S. China has also increased its share in global exports across key sectors and surpassed the U.S. in R&D expenditure by 2024. This economic rise has translated into increased diplomatic influence, with China becoming the world's largest official creditor in 2023 and ranking higher than the U.S. in diplomatic influence and economic relations for 2025.
China's GDP is projected to be only 1.5 times smaller than the U.S. by 2025, a significant reduction from 15 times in 1990.
China consistently shows higher GDP growth rates and labour productivity growth compared to the U.S.
China has increased its global export share in sectors like electronics and minerals and surpassed the U.S. in R&D expenditure by 2024.
Exam Points
U.S. GDP was 15 times China's GDP in 1990; projected to be 1.5 times by 2025 (IMF data).
China's R&D expenditure in 2024 was $785.9 billion, surpassing U.S. at $781.8 billion (WIPO data).
China became the world's largest official creditor in 2023 (AidData).
The Endocrine Society, a global organization of scientists and physicians, has decided to rename Polycystic Ovary Syndrome (PCOS) to Polyendocrine Ovarian Metabolic Syndrome (PMOS). This change aims to improve diagnosis, treatment, and reduce stigma associated with the condition. The previous name, PCOS, was deemed inaccurate as it focused on ovarian cysts, leading to diagnostic delays and misperceptions. The new name better reflects the multi-pronged features of the condition, which include endocrine, metabolic, and ovarian dysfunction, encompassing issues like insulin resistance, hyperandrogenism, and neuroendocrine imbalances, beyond just ovarian cysts. A global implementation strategy is underway.
Polycystic Ovary Syndrome (PCOS) has been renamed to Polyendocrine Ovarian Metabolic Syndrome (PMOS).
The renaming aims to improve diagnostic accuracy, facilitate treatment, and reduce stigma.
The old name, PCOS, was considered inaccurate as ovarian cysts are not always present and the condition involves broader endocrine and metabolic dysfunctions.
Exam Points
The Endocrine Society, a global organization, initiated the name change.
The new name is Polyendocrine Ovarian Metabolic Syndrome (PMOS).
PCOS affects an estimated 170 million women during their reproductive years globally.
The Nicobar tribal council is opposing the Union government's notification of three wildlife sanctuaries in Little Nicobar, Meroe, and Menchal islands, alleging violations of the Forest Rights Act. This opposition comes amidst challenges to the Great Nicobar Island (GNI) project for similar violations. The council states that the sanctuaries were notified without consulting the local community, who have lived on and maintained these islands for generations. Meroe and Menchal islands hold high cultural and spiritual significance for the Nicobarese. They argue that the sanctuaries would encroach upon their traditional rights, including ritual hunts and maintenance of plantations, and demand the revocation of the notification.
The Nicobar tribal council opposes the notification of three wildlife sanctuaries in Little Nicobar, Meroe, and Menchal islands.
They allege violations of the Forest Rights Act, as no consultation occurred with the local community.
The Meroe and Menchal islands are culturally and spiritually significant to the Nicobarese.
Exam Points
The Union government notified three sanctuaries in October 2022.
The sanctuaries are for Leatherback Turtle (LNI), Megapode (Menchal), and Coral (Meroe) species.
The opposition is from the Tribal Council of Little and Great Nicobar.
The National Testing Agency (NTA), responsible for major entrance exams like NEET UG and CUET, is facing scrutiny over its "Zero Error" policy due to widespread allegations of paper leaks, irregularities, and technical glitches. Despite NTA's claims of robust security, multiple incidents, including a NEET UG 2024 paper leak and CUET exam cancellations, have raised concerns about its operational integrity. A high-level committee formed in 2024 to review NTA's functioning recommended measures like biometric authentication and CCTV surveillance, but these issues persist. Experts suggest that NTA's rapid expansion without adequate infrastructure and a lack of transparency contribute to these failures, undermining public trust in the examination system.
The National Testing Agency (NTA) is under scrutiny for alleged paper leaks, irregularities, and technical glitches in major entrance exams.
Incidents like the NEET UG 2024 paper leak and CUET exam cancellations contradict NTA's "Zero Error" policy.
A 2024 high-level committee recommended several security measures, but issues continue to plague the NTA.
Exam Points
NTA conducts exams like NEET UG, CUET, JEE Main, UGC-NET.
A high-level committee was formed in 2024 to review NTA's functioning.
The committee recommended biometric authentication and GPS-enabled vehicles for question paper transport.
The India Meteorological Department (IMD) has forecasted an above-normal monsoon for 2026, with rainfall expected to be 106% of the long period average (LPA). This forecast is based on a new multi-model ensemble (MME) system, which integrates various global climate models. While an above-normal monsoon is beneficial for agriculture, the IMD also warns of an increased likelihood of extreme rainfall events, which can lead to floods. The IMD highlights a trend of rising frequency and intensity of extreme weather events, necessitating improved disaster preparedness and water management strategies. The new MME system aims to provide more accurate and localised forecasts.
The IMD has predicted an above-normal monsoon for 2026, with rainfall expected at 106% of the Long Period Average (LPA).
This forecast is based on a new multi-model ensemble (MME) system, integrating global climate models for improved accuracy.
Despite the positive outlook for agriculture, the IMD warns of an increased probability of extreme rainfall events and associated flooding.
Exam Points
IMD forecasts 106% of LPA for the 2026 monsoon.
The new forecasting system is a multi-model ensemble (MME) system.
The LPA is calculated based on rainfall data from 1971-2020.
The Union Cabinet has approved a ₹37,500-crore package to promote coal gasification, a sustainable alternate mining method. This initiative aims to convert coal into syngas or synthetic gas, which can then be used to produce downstream products like urea, methanol, and ammonia, thereby reducing India's import bill for these key products. India's import bill for such products was approximately ₹2.77 lakh crore in FY2025. The scheme targets gasifying 75 million tonnes of coal and lignite by 2030, offering financial incentives up to ₹9,000 crore per project and extending coal linkage tenure to 30 years to encourage investment.
The Union Cabinet approved a ₹37,500-crore package to promote coal gasification.
The scheme aims to convert coal into syngas for producing downstream products like urea and methanol, reducing import dependence.
India's import bill for these products was ₹2.77 lakh crore in FY2025, highlighting the strategic importance of this initiative.
Exam Points
Cabinet approved ₹37,500 crore package.
India's import bill for key substitutable products was ₹2.77 lakh crore in FY2025.
Target: gasification of 75 million tonnes of coal and lignite by 2030.
The India-Sri Lanka Business Forum, organized by CII and the Ceylon Chamber of Commerce, has identified six key areas for bilateral cooperation: ports, transport and logistics, pharmaceuticals, online payments, travel, and the existing Free Trade Agreement (FTA). These sectors offer immediate investment and trade opportunities, aiming to strengthen economic engagement and explore new avenues. Specific proposals include joint ventures for warehousing, sourcing generic drugs from India's pharma clusters, and exploring cross-border digital payment links. The forum also discussed reviewing the existing FTA to add more products like pharmaceutical raw materials and logistics equipment, with a joint working group on trade facilitation scheduled to meet in August 2026.
The India-Sri Lanka Business Forum identified six key sectors for bilateral cooperation: logistics, pharma, online payments, travel, ports, and FTA review.
The initiative aims to strengthen economic engagement and explore new trade and investment opportunities between the two nations.
Specific proposals include joint ventures in warehousing, sourcing generic drugs, and implementing UPI-like digital payment systems.
Exam Points
The forum was organized by CII (Confederation of Indian Industry) and the Ceylon Chamber of Commerce.
Krishan Balendra is chairperson of The Ceylon Chamber of Commerce.
Experts at a discussion on "India's Diplomacy in West Asia" urged India to step into the geopolitical vacuum created by the U.S.'s reduced engagement in the region. Former Ambassador T.S. Tirumurti emphasized that India's policy in West Asia should be "multi-vector" and "multi-aligned," focusing on its own interests rather than choosing sides. He highlighted the region's importance for India's energy security, trade, and diaspora. The panel also discussed the challenges posed by the ongoing West Asia crisis and the need for India to play a more proactive role in ensuring regional stability, leveraging its historical ties and economic influence. The consensus was that India's approach should be pragmatic and focused on its strategic autonomy.
Experts advocate for India to fill the geopolitical vacuum left by the U.S. in West Asia.
Former Ambassador T.S. Tirumurti stressed a "multi-vector" and "multi-aligned" policy for India in the region.
West Asia is crucial for India's energy security, trade, and large diaspora.
Exam Points
The discussion was titled "India's Diplomacy in West Asia: Balancing in West Asia."
Former Ambassador T.S. Tirumurti was a key speaker.
The discussion was organized by the Observer Research Foundation (ORF).
Experts at a discussion on "Economic Disruptions in Sri Lanka" urged India to learn from Sri Lanka's experience with fertilizer supply chain disruptions. Dr. Ramya S. Moorthy highlighted how the sudden shift to organic farming, coupled with global supply chain issues, led to a severe food crisis in Sri Lanka. The panel emphasized the need for India to diversify its fertilizer sources, invest in domestic production, and maintain strategic reserves to ensure food security. They also discussed the broader implications of geopolitical events on supply chains and the importance of prudent management of external sectors to avoid similar crises, especially concerning essential imports like crude oil and fertilizers.
Experts advised India to learn from Sri Lanka's fertilizer crisis to bolster its own supply chain resilience.
Sri Lanka's sudden shift to organic farming and global supply chain disruptions caused a severe food crisis.
India should diversify fertilizer sources, boost domestic production, and maintain strategic reserves for food security.
Exam Points
The discussion was titled "Economic Disruptions in Sri Lanka: Lessons for India."
Dr. Ramya S. Moorthy from the Madras School of Economics was a speaker.
The discussion was organized by the Observer Research Foundation (ORF).
Former Ambassador T.S. Tirumurti emphasized the necessity for India to formulate a comprehensive regional policy for West Asia, moving beyond a country-specific approach. He highlighted the region's critical importance for India's energy security, trade, and the welfare of its diaspora. Tirumurti advocated for a "multi-vector" and "multi-aligned" foreign policy, allowing India to engage with all regional players without taking sides, especially amidst the ongoing West Asia crisis. He stressed that India's approach should prioritize its own strategic autonomy and national interests, leveraging its historical ties and economic influence to contribute to regional stability and address challenges like terrorism and maritime security.
Former Ambassador T.S. Tirumurti urged India to develop a comprehensive regional policy for West Asia, rather than a country-specific one.
He emphasized the region's vital importance for India's energy security, trade, and the welfare of its diaspora.
India should adopt a "multi-vector" and "multi-aligned" foreign policy, engaging with all regional players without bias.
Exam Points
Former Ambassador T.S. Tirumurti was India's Permanent Representative to the UN.
The discussion was titled "India's Diplomacy in West Asia: Balancing in West Asia."
The West Asia region accounts for 60% of India's crude oil imports and 80% of gas imports.
Recent discoveries of new snake fossils and advancements in genetic and imaging technologies are providing unprecedented insights into the evolutionary origins of snakes. Scientists are using micro-CT scans and 3D models to analyze fossil skulls, revealing that snakes likely evolved from burrowing lizards in forests, not marine environments, as previously thought. The study of ancient snake species like *Najash rionegrina* and *Coniophis* suggests that snakes lost their limbs gradually and developed unique skull mobility for swallowing large prey. This research helps to clarify the timeline and environmental context of snake evolution, highlighting the importance of combining paleontological evidence with modern genetic and developmental biology.
New snake fossils and advanced technologies like micro-CT scans are revolutionizing understanding of snake evolution.
Evidence suggests snakes likely evolved from burrowing lizards in forests, challenging the marine origin hypothesis.
Fossil analysis indicates that snakes gradually lost limbs and developed specialized skull structures for consuming large prey.
Exam Points
The study involves analysis of fossils like *Najash rionegrina* and *Coniophis*.
The research uses micro-CT scans and 3D models.
The study was published in Science Advances.
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