Daily Current Affairs – 29-03-2025
Tamil Nadu
Modified Interest
Subvention Scheme Extended for 2025–26
® The Union Government has approved the continuation of the Modified Interest Subvention Scheme (MISS) for FY 2025–26. ® Originally launched in 2006–07, MISS is a Central Sector Scheme aimed at ensuring affordable short-term credit to farmers. ® Farmers can avail loans up to ₹ 3 lakh through Kisan Credit Cards (KCC) at a 7% interest rate, with 1.5% subvention to lending institutions. ® Those who repay promptly are eligible for a 3% Prompt Repayment Incentive (PRI), effectively reducing the interest to 4%. ® For animal husbandry and fisheries, the interest benefit applies to loans up to ₹ 2 lakh. ® In case of natural calamities, restructured crop loans get a 2% subvention for the first year.
Maharashtra CM
Relief Fund Gets FCRA Approval for First Time
® The Union Home Ministry has granted FCRA registration to the Chief Minister’s Relief Fund (CMRF) of Maharashtra, allowing it to receive foreign donations for social programmes. ® This is the first instance of a state government relief fund receiving approval under the Foreign Contribution (Regulation) Act (FCRA), 2010. ® The CMRF Maharashtra, registered under the Bombay Public Trusts Act, 1950, provides financial aid during natural disasters, accidents, riots, terrorist attacks, and for medical and educational assistance. ® Typically, state relief funds depend on domestic donations. In contrast, the PM CARES Fund, established in March 2020, is also exempt from FCRA provisions. ® FCRA registration is mandatory for entities receiving foreign contributions for social, educational, religious, economic, or cultural activities. ® The original FCRA 1976 was replaced by a new Act in 2010, later amended in 2020.
Government Relaxes
Norms Under Advance Authorisation Scheme
® The Union Government has relaxed rules under the Advance Authorisation (AA) Scheme, allowing duty-free import benefits even if exports occurred before licence issuance. ® Earlier, goods shipped before the AA licence date were ineligible for duty exemption. ® The scheme permits duty-free import of inputs (raw materials, components, chemicals) used in manufacturing export products. ® Exemption will not apply to restricted items or imports via designated government agencies, unless specially approved by DGFT.
Viksit Krishi
Sankalp Abhiyan 2025 Launched to Modernize Indian Agriculture
® The Government launched the Viksit Krishi Sankalp Abhiyan 2025, a nationwide campaign to promote scientific farming, sustainability, and farmer empowerment. ® Conducted biannually before Kharif and Rabi seasons, it provides field-level guidance on crop productivity, soil health, and resource use. ® It involves ICAR’s 113 institutes, 731 KVKs, agri-universities, state departments, FPOs, and progressive farmers. ® The campaign will reach over 65,000 villages in 723 districts, directly engaging 1.3 crore+ farmers