26th March, 2025 Current Affairs

NATIONAL
Digital Crop Survey (DCS) System launched to ensure accurate crop data collection

• The Ministry of Agriculture and Farmers Welfare has introduced the Digital Crop Survey (DCS) System, which aims to gather real-time crop-sown details directly from the field through a mobile interface. This innovative system ensures precise, up-to-date information on crop areas for every agricultural plot, which will be crucial for accurate production estimations.
• As part of this initiative, the Agri Stack has been developed in line with the Digital Personal Data Protection Act, 2023, and other IT laws of India. Agri Stack is designed to ensure complete privacy and security of farmers’ data, as highlighted by the Minister of State for Agriculture and Farmers Welfare, Ramnath Thakur, in an official statement. The system ensures that farmers’ data is collected only with their consent, giving farmers full control over how their data is shared, which is limited to authorized entities for specific purposes.
• The data privacy features of Agri Stack are reinforced by its federal structure, allowing states to maintain control over the entire dataset. Additionally, the Government of India ensures robust cybersecurity measures by adhering to the guidelines issued by the Ministry of Electronics and Information Technology (MeitY) and the Indian Computer Emergency Response Team (CERT-In). Farmers’ information is encrypted and shared only with designated systems using secure APIs and token-based authentication. Regular security audits and risk assessments are conducted to ensure data safety.
• To ensure digital inclusion, particularly for farmers without access to mobile phones, support is provided through existing frameworks such as Farmer Producer Organizations (FPOs), Krishi Sakhis, and Common Service Centres (CSCs). States are also organizing camps to ensure no farmer is left out of the benefits of Agri Stack. The government is extending administrative and technical support to states for the smooth implementation of this mission.
• The State Farmer Registry, under the Digital Agriculture Mission, covers all landholders, including women farmers. It also provides an option for states to on-board tenant and lessee farmers into the Farmers Registry, based on the state’s policy, ensuring inclusivity in the system.

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INTERNATIONAL
IMF reaches staff-level agreement with Pakistan for $1.3 billion climate loan package

• The International Monetary Fund (IMF) has finalized a staff-level agreement with Pakistan for a $1.3 billion loan package over 28 months to support the country’s climate change mitigation and adaptation efforts.
• This agreement also includes the first review of the ongoing $7 billion bailout program, with the IMF commending Pakistan’s progress in restoring macroeconomic stability despite global challenges.
• Government sources from Pakistan’s finance department report steady inflation progress, maintaining rates within a range of 1% to 1.5% in March, as highlighted in the Ministry of Finance’s monthly economic outlook report.
• Upon IMF board approval, Pakistan will gain access to approximately $1 billion under the Extended Fund Facility (EFF), bringing total disbursements under the program to around $2 billion. The $7 billion IMF bailout has been crucial in averting a potential economic default for Pakistan, helping its $350 billion economy stabilize and avoid financial collapse.
• The IMF acknowledged Pakistan’s improving financial conditions, noting that inflation has declined to its lowest level since 2015, while external balances have strengthened, and sovereign spreads have narrowed. Despite these gains, the IMF cautioned that risks remain, including geopolitical shocks, rising protectionism, and tightening global financial conditions.

India, Singapore sign Letter of Intent (LOI) on Green Shipping & Digital Corridor Collaboration

• India and Singapore have solidified their partnership on a Green and Digital Shipping Corridor (GDSC) with the signing of a Letter of Intent (LoI) at the Singapore Maritime Week (SMW). Union Minister of Ports, Shipping & Waterways, Sarbananda Sonowal, played a key role in a series of high-profile events and bilateral meetings during his visit to Singapore.
• The LOI was signed by R. Lakshmanan, Joint Secretary, MoPSW, and Teo Eng Dih, Chief Executive of the Maritime and Port Authority of Singapore. Under this collaboration, both nations will work on digitalisation and decarbonisation projects, aiming to establish a Singapore-India Green and Digital Shipping Corridor (GDSC).
• This partnership seeks to accelerate the adoption of low-emission technologies and digital innovations in maritime operations, boosting sustainability and efficiency in the sector.

ECONOMY
Cabinet Approves ₹1,500 Crore UPI Incentive Scheme for Banks

• The Union Cabinet has approved an incentive scheme of ₹1,500 crore for banks to promote Unified Payments Interface (UPI) transactions below ₹2,000 in FY 2024–25. Banks will receive a 0.15% incentive on such transactions made by small merchants, with a portion of the payout contingent on maintaining a reliable UPI infrastructure. The initiative aims to enhance digital payment adoption, particularly among small businesses, without imposing merchant fees.
• The government aims to balance UPI growth while minimizing fiscal expenditure.
• The 2024-25 target is ₹20,000 crore in total transaction volumes.

Published date : 26 Mar 2025 06:12PM