4 January 2025

• Economy: India's nominal GDP grew from $2.04 trillion in 2014 to $3.57 trillion in 2023. Market capitalisation crossed $5 trillion in 2024.
• Health: Human Metapneumovirus (HMPV) cases reported in China raised global health alert. No vaccine or antiviral is available.
• Banking: BAANKNET portal centralises e-auctions of bank properties across public sector banks.
• Space: Mission ShakthiSAT, an all-girls lunar mission, is planned for September 2026 launch via PSLV.
• Polity: A court order in Karnataka brought Green Energy Open Access Rules under legal scrutiny.

GS area: Economy

Key official figures reflect India's economic trajectory over the past decade.

• Nominal GDP: $2.04 trillion (2014) grew to $3.57 trillion (2023). India is now the fifth-largest economy in the world.
• Per Capita Income: $1,554 (2014) to $2,481 (2023).
• FDI inflows (2014-24): $709.84 billion, a 69% increase over the decade.
• Ease of Doing Business: Rank improved from 142 (2014) to 63 (2019). The World Bank has since discontinued the index.
• Global Innovation Index: Rank improved from 76th (2014) to 39th (2024). Released by WIPO.
• Market capitalisation: Crossed $5 trillion in 2024, making BSE the 4th largest stock exchange by market cap.
• Gross NPAs: Fell to 2.6% of bank advances, a multi-decade low as of 2024.

Static linkage: Indian economy (GS Paper 3), economic indicators.

GS area: Science and Technology (Health)

A rise in HMPV cases in China in late 2024 triggered global health monitoring alerts.

• Discovery: HMPV was first identified in the Netherlands in 2001 through genomic sequencing.
• Classification: Belongs to the Pneumoviridae family. It is related to the Respiratory Syncytial Virus (RSV).
• Disease: Causes upper and lower respiratory tract infections ranging from mild cold-like symptoms to pneumonia.
• High-risk groups: Children under 5 years, adults above 65, and immunocompromised individuals.
• Treatment gap: No specific antiviral drug or approved vaccine is available.
• Diagnosis: Nucleic Acid Amplification Tests (NAATs) and antigen-based immunoassays are used.

HMPV is not a new virus. It circulates globally every winter season. The concern is its intersection with existing respiratory viruses in a post-pandemic population.

Static linkage: Diseases and pathogens (Science and Technology, GS Paper 3).

GS area: Economy, Banking

The Department of Financial Services (DFS) under the Ministry of Finance developed the BAANKNET portal as a centralised e-auction platform for properties held by public sector banks.

• Holdings: More than 1,22,500 properties listed including residential, commercial, industrial, and agricultural land, along with vehicles and machinery seized as loan collateral.
• Technology: Built on a microservices architecture with an automated payment gateway and integrated KYC tools.
• Purpose: Buyers can locate and bid for bank-held properties across all PSBs from a single platform, improving transparency and price discovery.

Public sector banks seize assets pledged as collateral when borrowers default on loans. Efficient disposal of these assets helps recover value and clean up bank balance sheets.

Static linkage: Banking regulation, NPA resolution (Economy).

GS area: Economy (Infrastructure)

LEADS stands for Logistics Ease Across Different States. It is a survey-based index launched in 2018 by DPIIT under the Ministry of Commerce and Industry.

• Survey scale: Over 7,300 responses and 750 stakeholder consultations.
• Parameters: Logistics infrastructure, logistics services, and the operating or regulatory environment.
• Top coastal state performers: Gujarat, Karnataka, and Maharashtra.
• Top landlocked state performers: Haryana, Telangana, and Uttar Pradesh.

Logistics costs in India are estimated at around 13-14% of GDP, against a global average of 8%. Reducing these costs is a stated goal of the PM Gati Shakti National Master Plan.

Static linkage: Infrastructure, logistics (Economy, GS Paper 3).

GS area: Science and Technology (Space)

ISRO and Space Kidz India (SKI), with support from IN-SPACe, announced Mission ShakthiSAT.

• Concept: An all-girls lunar mission with participants drawn from 108 countries.
• Scale: 12,000 girls participating. The top 108 girls from the global pool are trained in Chennai.
• Launch timeline: Scheduled for September 2026.
• Launch vehicle: PSLV (Polar Satellite Launch Vehicle).
• Age eligibility: 14-18 years for African and Latin American participants; 14-16 years for others.

IN-SPACe (Indian National Space Promotion and Authorisation Centre) was set up in 2020 to regulate and promote private participation in India's space sector.

Static linkage: Space technology, ISRO (Science and Technology, GS Paper 3).

GS area: Governance, Energy

The Electricity (Green Energy Open Access) Rules, 2022 were challenged before the Karnataka High Court.

• Background: The rules were notified by the Ministry of Power under the Electricity Act 2003, specifically Sections 42(2) and 181.
• Key provision: The minimum consumption limit for availing green energy open access was reduced from 1 MW to 100 kW, allowing smaller consumers to purchase renewable energy directly from producers.
• Court ruling (January 2025): The Karnataka High Court ruled that the Centre exceeded its legislative authority in certain provisions of the rules. The case goes to the constitutional question of Central versus State powers in the electricity sector.
• Eligible energy: Rules cover renewable energy, waste-to-energy, green hydrogen, and green ammonia.

Open access is the mechanism by which large consumers can bypass the state distribution company (DISCOM) and buy power directly from a generator or exchange.

Static linkage: Electricity regulation, Centre-State relations (Polity and Economy).

• Army promotion policy: A new merit-based system with quantified Annual Confidential Reports (ACR) on a 1-9 scale was announced for Lieutenant General promotions, replacing a seniority-based system. This aligns the Army with practices in the Navy and Air Force.
• Hotan Prefecture, China: China created new counties in Hotan Prefecture in southwestern Xinjiang, bordering Aksai Chin. India claims Aksai Chin as part of Ladakh.