27th-28th August 2025

1. Personal Income Tax Collection Crosses Corporate Tax for the First Time in India
2. World Lake Day – 27 August
3. India-Africa Trade Crosses USD 100 Billion in 2024–25
4. India Set to Become Second-Largest Economy in PPP Terms by 2038: EY Report
5. Justice Alok Aradhe and Justice Vipul Pancholi Elevated to Supreme Court By President
6. Delhi’s GSDP Grows 5.8% Annually Over Last Decade
7. India Sends 700 Troops for Exercise Bright Star 2025
8. J&K Bank Appoints S Krishnan as New Chairman
9. UNGA Launches Two Global Initiatives for AI Governance
10. Defence Ministry, QCI Sign MoU to Support 63 Lakh Veterans
11. SpaceX Completes 10th Successful Starship Test Launch
12. FIDE World Cup 2025 to Be Hosted in Goa
13. Grihum Housing to Appoint Ex-Citi Banker Arjun Chowdhry as CEO
14. Ravichandran Ashwin Announces Shocking IPL Retirement
15. Suzuki to Invest ₹70,000 Crore in India by 2031
16. Teymur Abasguliyev Named New CEO of Nayara Energy
17. Inga Ruginiene Approved as Lithuania’s New Prime Minister
18. Centre Forms Committees to Honour Patel, Vajpayee, Birsa Munda
19. India Post Payments Bank Posts ₹134 Cr Profit in 2025
20. Mandaviya Unveils Hockey Asia Cup 2025 Trophy in Delhi
21. Mirabai Chanu Wins Gold at 2025 Commonwealth Weightlifting
22. NHAI Launches ‘Project Aarohan’ for Toll Workers’ Children
23. GoI Appoints Goldman Sachs as Sole Banker for Stake Divestment in IOB, CBI, UCO Bank, Punjab & Sind Bank
24. TATA AIA Launches ‘Health SIP Plan’ and ‘Health Buddy App’
25. IRSE Officer S.C. Jain Appointed with Additional Charge as CMD of RVNL
26. Sanjay Baru’s Book “Secession of the Successful: The Flight Out of New India” Released
27. Delhi and Oslo Launch Joint Initiative ‘DOSTI’ to Accelerate the Adoption of Urban E-Mobility Solutions

National News

1. Govt Forms Committees for Patel, Munda, Vajpayee Anniversaries

• What
  • The government has set up three high-level committees to celebrate 150th birth anniversaries of Sardar Vallabhbhai Patel, Birsa Munda, and the birth centenary of Atal Bihari Vajpayee.
• Tell me more
  • Prime Minister Narendra Modi will chair all three committees.
  • Patel, known as the Iron Man of India, integrated 565 princely states into the Union after independence.
  • Birsa Munda, a tribal hero and freedom fighter, led the Ulgulan movement against British oppression.
  • Atal Bihari Vajpayee, former Prime Minister, is remembered for Pokhran-II nuclear tests in 1998 and his contributions as a poet and statesman.

Source: NOA

2. Minister of State Reviews India Post and IPPB Performance

• What
  • Minister of State for Communications Dr. Chandra Sekhar Pemmasani reviewed the performance of India Post and India Post Payments Bank (IPPB), focusing on digital services, customer convenience, and last-mile access.
• Why
  • The review aimed to ensure affordable, reliable services for citizens, especially in remote areas, while strengthening financial inclusion and trust.
• Tell me more
  • IPPB has over 12 crore customers, deposits of nearly ₹20,000 crore, revenues of ₹2,200 crore, and profit of ₹134 crore, with a CAGR of 60–70% over two years.
  • IPPB partnered with HDFC Bank, Axis Bank, Aditya Birla Capital Finance, and Aadhaar Housing Finance to provide various loans such as home, auto, agri, gold, KCC, and commercial vehicle loans.

Source: PIB

3. NHAI Launches Project Aarohan for Toll Plaza Employees’ Children

• What
  • NHAI launched Project Aarohan to provide scholarships and educational support for children of toll plaza employees from economically weaker sections.
• Why
  • The initiative aims to remove financial barriers and ensure equal access to quality education, nurturing young talent for the country’s growth.
• Tell me more
  • The project will cover 500 students from Class 11 up to graduation.
  • Each student will get an annual scholarship of ₹12,000 in 2025-26.
  • Additionally, 50 meritorious students pursuing postgraduation or higher studies will be given scholarships of ₹50,000 each.
  • Applications will be accepted online with necessary documents like academic records, income proof, caste certificate, and ID proof.

Source: NOA

State News

1. Delhi Reports Growth in GSDP and Per Capita Income

• What
  • Delhi’s gross state domestic product (GSDP) and per capita income grew annually by more than 5% and 7% respectively in the last decade, though its share in national GDP declined.
• Why
  • The report highlights Delhi’s economic performance and recovery, while showing a reduced contribution to India’s overall GDP.
• Tell me more
  • Delhi’s GSDP at constant prices rose from ₹3,43,798 crore in 2011-12 to an estimated ₹7,11,486 crore in 2024-25, with 5.86% annual growth.
  • At current prices, GSDP increased from ₹3,43,798 crore in 2011-12 to ₹12,15,003 crore in 2024-25, growing at 10.34% annually.
  • Delhi’s per capita income at current prices is estimated at ₹4,93,024 for 2024-25, marking 7.32% growth over 2023-24.
  • The economy contracted by 8.96% in 2020-21 due to the Covid-19 pandemic but rebounded with 9.16% growth in 2023-24 and is expected to grow by 6.21% in 2024-25.

Source: ET

2. Delhi and Oslo Launch Smart Transport Partnership DOSTI

• What
  • Delhi and Oslo announced the Delhi-Oslo Smart Transport Initiative (DOSTI) at the India Clean Transportation Summit (ICTS) 2025 to boost urban e-mobility.
• Why
  • The collaboration aims to accelerate EV adoption, promote knowledge sharing, and strengthen charging infrastructure for sustainable urban transport.
• Tell me more
  • Delhi targets becoming the “EV capital” by 2030 with a strong public charging network.
  • Oslo, known for its global leadership in zero-emission transport, will share expertise in charging infrastructure.
  • Delhi’s experience in electric bus deployment will benefit Oslo in co-learning efforts.
  • The partnership also extends to zero-emission construction machinery, where Oslo has a 100% target for municipal projects by 2025.

Source: ET

International News

1. UN Launches New Global Mechanisms for AI Governance

• What
  • The UN General Assembly has created the Independent International Scientific Panel on AI and the Global Dialogue on AI Governance to strengthen global cooperation on artificial intelligence.
• Why
  • These mechanisms aim to harness AI’s benefits while addressing its risks and ensuring it serves the common good of humanity.
• Tell me more
  • The Global Dialogue on AI Governance will serve as an inclusive platform for states and stakeholders to discuss key AI challenges.
  • The Scientific Panel will connect AI research with policymaking through independent scientific assessments.
  • Annual reports from the Scientific Panel will be presented at Global Dialogue sessions in Geneva (2026) and New York (2027).

Source: DTE

2. SpaceX Conducts 10th Successful Starship Flight Test

• What
  • SpaceX launched its 10th Starship flight test from Starbase, Texas, marking progress in building the world’s first fully reusable rocket.
• Why
  • The test aimed to validate key flight objectives and gather data for future missions, including NASA’s Artemis III Moon landing in 2027.
• Tell me more
  • The Super Heavy booster executed a controlled splashdown in the Gulf of Mexico.
  • The Starship upper stage performed key manoeuvres, including a successful re-ignition in space and a soft splashdown in the Indian Ocean.
  • This was the 10th Starship test flight conducted by SpaceX.
  • Data from this flight will support missions like NASA’s Artemis III Moon landing planned for 2027.

Source: NOA

Banking and Economy

1. Personal Income Tax Overtakes Corporate Tax in India

• What
  • Personal income tax collections have surpassed corporate tax collections for the first time in India’s history.
• Why
  • This change reflects stronger compliance, digitisation, formalisation of businesses, and rising declared incomes.
• Tell me more
  • The share of personal income tax in direct taxes rose from 38.1% in FY14 to 53.4% in FY24, while corporate tax share fell from 61.9% to 46.6%.
  • The number of individual tax return filers increased from 30.5 million in FY14 to 69.7 million in FY23, a 2.3 times rise.
  • TDS collections grew from ₹2.5 trillion in FY14 to ₹6.5 trillion in FY24, and advance tax payments rose from ₹2.9 trillion to ₹12.8 trillion.
  • Declared salaries rose from ₹9.8 trillion in FY14 to ₹35.2 trillion in FY23, boosting personal tax collections from ₹2.4 trillion to ₹8.3 trillion.

Source: ET

2. India-Africa Trade Crosses USD 100 Billion Mark

• What
  • Union Minister Kirti Vardhan Singh announced that India-Africa trade has crossed USD 100 billion with India becoming one of the top-five investors in the continent.
• Why
  • The partnership aims to move beyond project-level cooperation towards “Co-creating a Shared Future” based on trust and collaboration.
• Tell me more
  • India’s bilateral trade with Africa rose from USD 56 billion in 2019-20 to over USD 100 billion in 2024-25.
  • India has given concessional loans worth USD 12 billion, USD 700 million in grants, and 50,000 scholarships to African youth, of which 42,000 have been utilised.
  • Cumulative Indian investments in Africa between 1996–2024 reached over USD 75 billion.
  • India has provided relief operations in Mozambique, Madagascar, Mauritius and other African nations.

Source: ET

3. India May Become World’s Second-Largest Economy by 2038

• What
  • EY report based on IMF projections said India may become the world’s second-largest economy in PPP terms by 2038 with a GDP of USD 34.2 trillion.
• Why
  • This growth projection is due to India’s young workforce, strong savings and investment rates, rising domestic demand, and sustainable debt levels.
• Tell me more
  • By 2030, India’s GDP (PPP) could reach USD 20.7 trillion, while by 2038 it may touch USD 34.2 trillion.
  • India’s government debt-to-GDP ratio is expected to fall from 81.3% in 2024 to 75.8% by 2030.
  • India will become the third-largest economy in market exchange rate terms by 2028, overtaking Germany.
  • Structural reforms like GST, IBC, financial inclusion through UPI, and production-linked incentives are strengthening competitiveness.

Source: ET

4. PM Modi Flags Off Maruti Suzuki’s First Global EV e-Vitara

• What
  • Prime Minister Narendra Modi launched Maruti Suzuki’s first global Battery Electric Vehicle (BEV), the e-Vitara, from the Hansalpur plant in Gujarat.
• Why
  • The launch marks India’s push to become a global hub for electric vehicles under the vision of green mobility and Aatmanirbhar Bharat.
• Tell me more
  • The e-Vitara will be exported to over 100 countries including Europe and Japan, with a production capacity of 70,000 units annually by FY26.
  • The Hansalpur plant has a Gati Shakti multimodal cargo terminal, enhancing exports with direct connectivity to Mundra port.
  • A lithium-ion battery plant, a Suzuki-Toshiba-Denso JV, was also inaugurated to locally produce over 80% of hybrid battery value.
  • Maruti Suzuki plans to launch six BEVs by FY31, expecting EVs to contribute 15-20% of its sales volumes.

Source: BCI

5. Govt Appoints Goldman Sachs for PSB Stake Sale

• What
  • The Government of India appointed Goldman Sachs as the sole transaction advisor for stake sale in UCO Bank, Central Bank of India, Punjab & Sind Bank, and Indian Overseas Bank.
• Why
  • The move is part of banking reform strategy to enhance efficiency, improve competitiveness, and comply with SEBI’s Minimum Public Shareholding (MPS) norms.
• Tell me more
  • The government plans to reduce up to 5% equity stake in each of the four banks.
  • The disinvestment will be carried out in tranches starting FY26 and spread over 2–3 years.
  • Current government holdings in all four banks are 89% or higher.
  • IDBI Bank’s strategic sale process will also see financial bids invited between Oct–Dec 2025, with a successful bidder expected by end of FY26.

Source: CNBC

6. Tata AIA Launches Health SIP and Health Buddy

• What
  • Tata AIA Life Insurance introduced Health SIP, a Non-Participating Unit-Linked Health Insurance Plan, and Health Buddy, a 24×7 digital health and wellness companion.
• Why
  • The initiatives aim to combine health protection with financial planning and provide continuous wellness support for families.
• Tell me more
  • Health SIP allows building a health-focused investment corpus along with critical illness coverage, with premium lock-in for up to 30 years.
  • Key features include no premium allocation charges, maturity boosters, tax-free withdrawals from the 6th year, and two variants: Health SIP Plus and Health SIP Plus Pro.
  • Health Buddy gives 24×7 access to preventive check-ups, women’s health support, 24+ medical specialties, discounts on medicines, and lifestyle coaching.
  • Health Buddy is India’s first 24×7 health and wellness digital companion from a life insurer.

Source: BT

Defence News

1. India Joins Multilateral Exercise Bright Star 2025 in Egypt

• What
  • Over 700 Indian Army, Navy, Air Force, and Integrated Defence Staff personnel are participating in Exercise Bright Star 2025 in Egypt, co-hosted with the United States.
• Tell me more
  • Exercise Bright Star 2025 is being held from August 28 to September 10.
  • Activities include live-firing by all three services, a Command Post Exercise (CPX) for joint planning, and small training drills on modern warfare.
  • Subject Matter Expert (SME) interactions will be held to share knowledge on military operations.

Source: DD

Important Days

1. World Lake Day – 27 August

• Theme: Lakes: the lifeblood of our planet

Source: UN

Sports

1. Goa to Host FIDE World Cup 2025

• What
  • The International Chess Federation (FIDE) announced Goa as the official host of the FIDE World Cup 2025, to be held from October 30 to November 27.
• Why
  • The event aims to celebrate chess, inspire millions, and showcase India’s growing status as a global chess hub.
• Tell me more
  • The format includes two-game knockout rounds with classical games and tie-breaks if needed.
  • At least 21 Indian players have qualified, including World Champion Gukesh, Praggnanandhaa, Arjun Erigaisi, Vidit Gujrathi, and others.

Source: IE

2. Ravichandran Ashwin Retires from Indian Premier League

• Indian off-spinner Ravichandran Ashwin announced his retirement from the Indian Premier League (IPL) after retiring earlier from international cricket.

Source: ET

3. Trophy Unveiled for Men’s Hockey Asia Cup 2025

• What
  • Union Minister Dr. Mansukh Mandaviya unveiled the Hockey Men’s Asia Cup 2025 Trophy in New Delhi, marking the countdown to the 12th edition of the tournament.
• Why
  • The event aims to highlight India’s hosting of the Asia Cup in Bihar, which will also act as a direct qualifier for the 2026 FIH Men’s Hockey World Cup.
• Tell me more
  • The tournament will take place from August 29 to September 7, 2025, at Rajgir Hockey Stadium in Bihar.
  • This will be the first major international hockey event hosted in Bihar.
  • The winner of the Asia Cup will qualify directly for the 2026 World Cup in the Netherlands and Belgium.
  • Teams finishing 2nd to 6th will proceed to the World Cup qualifiers next year.

Source: PIB

4. Mirabai Chanu Wins Gold at Commonwealth Weightlifting Championships

• What
  • Former world champion Mirabai Chanu won gold at the Commonwealth Weightlifting Championships 2025 in Ahmedabad, marking her return after the Paris 2024 Olympics.
• Why
  • Her victory secured direct qualification for the Glasgow 2026 Commonwealth Games and set records in the 48kg category.
• Tell me more
  • Chanu lifted a total of 193kg (84kg snatch + 109kg clean and jerk), setting records in all three categories.
  • India’s Soumya Sunil Dalvi won silver with 177kg, while Nigeria’s Ruth Asouquo Nyong took bronze with 167kg.
  • Other Indian winners included Dharmajyoti Dewgharia (224kg, men’s 56kg youth), Payal (166kg, women’s 48kg youth), and Preetismita Bhoi (150kg, women’s 44kg youth).
  • Over 300 lifters from 31 nations are competing in this 30th edition.

Source: OC

Memorandum of Understanding

1. Defence Ministry Signs MoU with QCI for Veteran Welfare

• What
  • The Defence Ministry signed an MoU with the Quality Council of India (QCI) to improve pension, healthcare, resettlement, and welfare services for over 63 lakh veterans and their dependents.
• Why
  • The MoU seeks to strengthen service delivery and provide better support through digital evaluations, impact assessments, and policy improvements.
• Tell me more
  • QCI will assist the Department of Ex-Servicemen Welfare (DESW) in policy recommendations based on data and assessments.
  • DESW will provide data access and coordinate with state governments, Zila Sainik Boards, Armed Forces Headquarters, and hospitals.

Source: NOA

Appointments

1. Justice Alok Aradhe and Justice Vipul Pancholi Appointed to Supreme Court

• What
  • The Centre appointed Justice Alok Aradhe, Chief Justice of Bombay High Court, and Justice Vipul Pancholi, Chief Justice of Patna High Court, as judges of the Supreme Court.
• Tell me more
  • Justice Vipul Pancholi, appointed as SC judge, may become Chief Justice of India from October 3, 2031, to May 27, 2033.
  • Justice Pancholi was appointed as Gujarat HC judge in 2016, transferred to Patna in 2023, and became its Chief Justice in July 2023.

Source: IE

2. S Krishnan Appointed as Non-Executive Chairman of J&K Bank

• J&K Bank board has approved the appointment of S Krishnan as non-executive chairman till March 26, 2028, subject to RBI approval.
• J&K Bank is headquartered in Srinagar.

Source: ET

3. Arjun Chowdhry to Become MD & CEO of Grihum Housing Finance

• Grihum Housing Finance is set to appoint former Citibanker Arjun Chowdhry as its new MD & CEO starting next month.

Source: ET

4. Nayara Energy Appoints Teymur Abasguliyev as New CEO

• What
  • Nayara Energy has appointed Azerbaijan national Teymur Abasguliyev as its new CEO, replacing Alessandro Des Dorides who resigned after EU sanctions.
• Tell me more
  • Abasguliyev has been CFO of SOCAR Turkiye Enerji A.S. since 2013 and earlier worked at PwC from 1996 to 2013.
  • He studied at Baku State University in Azerbaijan.
  • Nayara Energy, formerly Essar Oil Ltd, operates a 20-million tonnes per year refinery at Vadinar, Gujarat, and has over 6,750 fuel pumps.

Source: BS

5. Inga Ruginiene Approved as Lithuania’s New Prime Minister

• The Lithuanian parliament approved Social Democrat Inga Ruginiene as the new Prime Minister.

Source: NOA

6. S.C. Jain Appointed as CMD of RVNL

• The Ministry of Railways approved the appointment of Shri S.C. Jain as Chairman and Managing Director (CMD) of Rail Vikas Nigam Ltd. (RVNL) with additional charge.

Source: PSU

Miscellaneous

1. Sanjay Baru’s Book “Secession of the Successful: The Flight Out of New India” Released

• Sanjaya Baru’s book discusses the rising trend of wealthy Indians, including high-net-worth individuals and elites, migrating abroad and taking their wealth with them.

Source: IE

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