daily current-affairs digest

A new freshwater crab species, Ghatiana karnataka, has been scientifically described from Mookambika Wildlife Sanctuary, Udupi, Karnataka. It was discovered by a beat forester and described with a scientist from the **Zoological Survey **of India (ZSI). Location: Mookambika Wildlife Sanctuary, Central Western Ghats, Karnataka.

Key factual points

• A new freshwater crab species, Ghatiana karnataka, has been scientifically described from Mookambika Wildlife Sanctuary, Udupi, Karnataka.
• It was discovered by a beat forester and described with a scientist from the **Zoological Survey **of India (ZSI).
• Location: Mookambika Wildlife Sanctuary, Central Western Ghats, Karnataka.
• It is the 15th known species of the genus Ghatiana in the Western Ghats.
• Eight species, including the newly described one, are endemic to Karnataka.
• Appearance: Dark-purple body with light-pink claws.
• Habitat: Perennial streams and evergreen/semi-evergreen forests.
• During monsoon, it occurs around laterite rocks; in other seasons, it shelters in moist tree cavities.
• Freshwater crabs are sensitive to habitat alteration and pollution.
• The new species can therefore serve as an indicator of relatively undisturbed freshwater–forest ecosystems.
• The discovery also highlights the still-underexplored biodiversity of the Western Ghats.
• Map linkage: Western Ghats → Karnataka → Udupi → Mookambika Wildlife Sanctuary.

Prelims traps

• Distinguish the immediate development from the permanent mandate or structure of the institution concerned.
• Revise exact names, dates, locations and legal or institutional terms from the source points; do not infer facts not stated there.

Background and key dimensions

• Eight species, including the newly described one, are endemic to Karnataka.
• Appearance: Dark-purple body with light-pink claws.
• Habitat: Perennial streams and evergreen/semi-evergreen forests.
• During monsoon, it occurs around laterite rocks; in other seasons, it shelters in moist tree cavities.
• Freshwater crabs are sensitive to habitat alteration and pollution.
• The new species can therefore serve as an indicator of relatively undisturbed freshwater–forest ecosystems.
• The discovery also highlights the still-underexplored biodiversity of the Western Ghats.
• Map linkage: Western Ghats → Karnataka → Udupi → Mookambika Wildlife Sanctuary.
• Conceptual linkage: Western Ghats → high endemism → freshwater biodiversity → habitat sensitivity → conservation.
• PM-JANMAN: Strengthening Development of PVTGs
• The Ministry of Earth Sciences (MoES) highlighted the progress and future roadmap of Mission Mausam, aimed at making India a “Weather-ready and Climate-smart Nation.”
• Initial outlay: ₹2,000 crore for 2024–25 and 2025–26.

Analytical use

• Connect the development with its institutional, policy, economic, social, environmental or security implications only where supported above.
• In a Mains answer, separate the verified development from broader evaluation and use the named evidence precisely.

Way forward

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The government has introduced the Foreign Assets of Small Taxpayers–Disclosure Scheme (FAST-DS), providing a limited window for eligible taxpayers to disclose certain previously undisclosed foreign assets/income. The scheme opened on 16 August 2026 and remains available until 31 December 2026. Target: Small taxpayers with certain undisclosed foreign assets/income.

Key factual points

• The government has introduced the Foreign Assets of Small Taxpayers–Disclosure Scheme (FAST-DS), providing a limited window for eligible taxpayers to disclose certain previously undisclosed foreign assets/income.
• The scheme opened on 16 August 2026 and remains available until 31 December 2026.
• Target: Small taxpayers with certain undisclosed foreign assets/income.
• Eligibility ceiling: Foreign assets covered up to ₹5 crore.
• Provides a simplified mechanism to regularise eligible past non-disclosures.
• Taxpayers can disclose assets such as foreign bank accounts, financial investments and other specified overseas assets.
• Designed to improve voluntary compliance and financial transparency while reducing the compliance burden on small taxpayers.
• Important distinction: this is a limited disclosure window, not a general amnesty for serious tax evasion or undisclosed black money.
• The scheme must be understood alongside the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, which provides the statutory framework for taxation and penalties relating to undisclosed foreign income/assets.
• Undisclosed foreign assets → tax evasion → Black Money Act → voluntary disclosure → improved tax compliance.
• Prelims Concept: FCNR(B) deposits are foreign-currency denominated deposits maintained by NRIs with Indian banks; the special RBI swap facility was intended to encourage foreign-currency inflows and help banks manage exchange-rate exposure.
• India's Democracy Needs Different Electoral Rhythms

Prelims traps

• Distinguish the immediate development from the permanent mandate or structure of the institution concerned.
• Revise exact names, dates, locations and legal or institutional terms from the source points; do not infer facts not stated there.

Background and key dimensions

• Provides a simplified mechanism to regularise eligible past non-disclosures.
• Taxpayers can disclose assets such as foreign bank accounts, financial investments and other specified overseas assets.
• Designed to improve voluntary compliance and financial transparency while reducing the compliance burden on small taxpayers.
• Important distinction: this is a limited disclosure window, not a general amnesty for serious tax evasion or undisclosed black money.
• The scheme must be understood alongside the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, which provides the statutory framework for taxation and penalties relating to undisclosed foreign income/assets.
• Undisclosed foreign assets → tax evasion → Black Money Act → voluntary disclosure → improved tax compliance.
• Prelims Concept: FCNR(B) deposits are foreign-currency denominated deposits maintained by NRIs with Indian banks; the special RBI swap facility was intended to encourage foreign-currency inflows and help banks manage exchange-rate exposure.
• India's Democracy Needs Different Electoral Rhythms
• GS II
• Polity and Governance Federalism, Electoral Reforms, and Parliamentary Democracy
• One Nation, One Election (ONOE) seeks synchronised Lok Sabha and State elections, but critics argue it may weaken federalism and parliamentary accountability.
• The debate goes beyond cost and governance efficiency, raising concerns about constitutional balance, State autonomy and democratic choice.
• The Constitutional and Federal Concerns

Analytical use

• Connect the development with its institutional, policy, economic, social, environmental or security implications only where supported above.
• In a Mains answer, separate the verified development from broader evaluation and use the named evidence precisely.

Way forward

• Base recommendations on the gaps and institutional responsibilities identified in the source-grounded points.

India’s FTA journey is moving from expanding its network of agreements to making fuller use of the market access. What is a Free Trade Agreement (FTA)? A Free Trade Agreement (FTA) is a pact between two or more countries where they agree to: Reduce or eliminate customs duties on goods; Liberalise trade in services; Provide investment protection; Ensure safeguards for intellectual property rights (IPR).

Key factual points

• India’s FTA journey is moving from expanding its network of agreements to making fuller use of the market access.
• What is a Free Trade Agreement (FTA)?
• A Free Trade Agreement (FTA) is a pact between two or more countries where they agree to: Reduce or eliminate customs duties on goods; Liberalise trade in services; Provide investment protection; Ensure safeguards for intellectual property rights (IPR).
• Major Highlights of India’s Recent FTAs
• In FY 2025-26, combined merchandise and services exports reached a record US$ 863.1 billion, including merchandise exports of US$ 441.8 billion.
• UAE and Australia illustrate the early progress under India’s recent trade agreements.
• India-UAE CEPA (2022): India exported merchandise worth US$ 37,359.11 million to the UAE in FY 2025-26.
• Among India’s trade agreements, the UAE was India’s largest export destination.
• Bilateral trade crossed US$ 100.06 billion in FY 2024-25, recording a 19.6% growth.
• India and the UAE set a new target of doubling trade to US$ 200 billion by 2032.
• India-Australia ECTA (2022): Total bilateral trade reached US$ 24.1 billion in FY 2024-25.
• India’s exports to Australia have increased from US$ 4 billion in FY 2020-21 to US$ 7.28 billion in FY 2025-26, recording 80%+ growth.

Prelims traps

• Distinguish the immediate development from the permanent mandate or structure of the institution concerned.
• Revise exact names, dates, locations and legal or institutional terms from the source points; do not infer facts not stated there.

Background and key dimensions

• In FY 2025-26, combined merchandise and services exports reached a record US$ 863.1 billion, including merchandise exports of US$ 441.8 billion.
• UAE and Australia illustrate the early progress under India’s recent trade agreements.
• India-UAE CEPA (2022): India exported merchandise worth US$ 37,359.11 million to the UAE in FY 2025-26.
• Among India’s trade agreements, the UAE was India’s largest export destination.
• Bilateral trade crossed US$ 100.06 billion in FY 2024-25, recording a 19.6% growth.
• India and the UAE set a new target of doubling trade to US$ 200 billion by 2032.
• India-Australia ECTA (2022): Total bilateral trade reached US$ 24.1 billion in FY 2024-25.
• India’s exports to Australia have increased from US$ 4 billion in FY 2020-21 to US$ 7.28 billion in FY 2025-26, recording 80%+ growth.
• From 2026 onwards, all Indian exports are now eligible for zero-duty access to the Australian market.
• Facilitating Exporters’ Access to FTA Benefits: A trade agreement opens preferential market access, exporters generally need to provide proof of origin for their goods.
• A preferential Certificate of Origin (CoO) confirms that the goods meet the prescribed rules of origin.
• This allows qualifying goods to receive reduced or zero customs duties.

Analytical use

• Connect the development with its institutional, policy, economic, social, environmental or security implications only where supported above.
• In a Mains answer, separate the verified development from broader evaluation and use the named evidence precisely.

Way forward

• Base recommendations on the gaps and institutional responsibilities identified in the source-grounded points.

Corporate investment, as a share of GDP, has been declining in India. It refers to the acquisition of financial assets, business operations, or strategic projects by a company to generate financial returns or add long-term value. Corporate investment as a percentage of India’s GDP has fallen, especially following the 2016 demonetisation.

Key factual points

• Corporate investment, as a share of GDP, has been declining in India.
• It refers to the acquisition of financial assets, business operations, or strategic projects by a company to generate financial returns or add long-term value.
• Corporate investment as a percentage of India’s GDP has fallen, especially following the 2016 demonetisation.
• Investment grew from 6.5% of GDP in 2004 to 10.3% but began a long slide back after a delayed recovery from the global financial crisis.
• Demonetisation was a domestic policy shock, the GFC was an external shock.
• The investment collapse had already begun pre-COVID-19.
• Expected profitability: Firms invest when they expect sufficiently profitable sales to occur in the future.
• Business confidence (animal spirits): More confidence about future demand and policy encourages investment.
• Cost and availability of credit: High interest rates and limited access to finance can discourage investment, particularly for smaller firms.
• Job creation: Capital spending on labour-intensive manufacturing and infrastructure brings millions of people into the workforce each year.
• Technology & Knowledge Transfer: Domestic ecosystems absorb advanced manufacturing norms, automation, and industrial R&D through foreign corporate equity.
• Welfare Effect: Private investment reduces the expenditure load of public debt, allowing the government to spend money on social welfare and health.

Prelims traps

• Distinguish the immediate development from the permanent mandate or structure of the institution concerned.
• Revise exact names, dates, locations and legal or institutional terms from the source points; do not infer facts not stated there.

Background and key dimensions

• Demonetisation was a domestic policy shock, the GFC was an external shock.
• The investment collapse had already begun pre-COVID-19.
• Expected profitability: Firms invest when they expect sufficiently profitable sales to occur in the future.
• Business confidence (animal spirits): More confidence about future demand and policy encourages investment.
• Cost and availability of credit: High interest rates and limited access to finance can discourage investment, particularly for smaller firms.
• Job creation: Capital spending on labour-intensive manufacturing and infrastructure brings millions of people into the workforce each year.
• Technology & Knowledge Transfer: Domestic ecosystems absorb advanced manufacturing norms, automation, and industrial R&D through foreign corporate equity.
• Welfare Effect: Private investment reduces the expenditure load of public debt, allowing the government to spend money on social welfare and health.
• Export Capacity Building: Infrastructure and capital generation scale up value-added manufacturing, thus promoting trade balances and foreign exchange reserves
• Concentration risk: A considerable portion of capex is concentrated among a handful of large conglomerates, and mid-sized firm investment continues to be spotty.
• Geopolitical unpredictability and high input/energy costs lead to a cautious stance on long-term discretionary investments.
• Regulatory Bottlenecks: Long land acquisition, local regulatory clearances, and slow contract enforcement delay project commissioning.4.

Analytical use

• Connect the development with its institutional, policy, economic, social, environmental or security implications only where supported above.
• In a Mains answer, separate the verified development from broader evaluation and use the named evidence precisely.

Way forward

• Base recommendations on the gaps and institutional responsibilities identified in the source-grounded points.

Syllabus: GS2/Polity and Governance Punjab’s new sacrilege law has reignited debate over the criminalisation of reli­gious offence in a sec­u­lar state. Recently, the Gov­ernor of Punjab gave his assent to the Jaagat Jot Sri Guru Granth Sahib Satkar (Amendment) Act.

Key factual points

• Syllabus: GS2/Polity and Governance
• Punjab’s new sacrilege law has reignited debate over the criminalisation of reli­gious offence in a sec­u­lar state.
• Recently, the Gov­ernor of Punjab gave his assent to the Jaagat Jot Sri Guru Granth Sahib Satkar (Amendment) Act.
• It has introduced stricter punishment against the sacrilege of Sri Guru Granth Sahib Ji.
• Anyone found involved in or supporting the sacrilegious acts can be imprisoned for 10 years to life and fined between 5 lakh and 25 lakh rupees.
• Sacrilege under the Act: It cov­ers any “wil­ful and delib­er­ate” act of desec­ra­tion through phys­ical dam­age, deface­ment, burn­ing, tear­ing or theft of the Guru Granth Sahib and also extends sac­ri­lege equally to acts com­mit­ted in speech, writing and visual representation or through elec­tronic means.
• Sacrilege literally means treating a religious object or place without the respect that it deserves.
• It traditionally concerns conduct i.e. physical desecration or violation of something considered sacred.
• Blasphemy concerns expression, including contemptuous or irreverent speech, writ­ing or imagery about a god, a prophet, a scripture or a set of beliefs.
• Legal Stand: Sec­tion 298 of the Bhar­atiya Nyaya San­hita pun­ishes injur­ing or defil­ing a place of wor­ship with intent to insult a reli­gion, a sac­ri­lege­ type offence aimed at con­duct.
• Sec­tion 299 of the BNS pun­ishes delib­er­ate and mali­cious insult to reli­gious beliefs by words, signs or vis­ible rep­res­ent­a­tion.
• Enactment of Section 295A of the Indian Penal Code in 1927 criminalised the “delib­er­ate and mali­cious” acts inten­ded to out­rage the reli­gious feel­ings of any class of cit­izens, whether by words, signs, or vis­ible rep­res­ent­a­tion.

Prelims traps

• Distinguish the immediate development from the permanent mandate or structure of the institution concerned.
• Revise exact names, dates, locations and legal or institutional terms from the source points; do not infer facts not stated there.

Background and key dimensions

• Anyone found involved in or supporting the sacrilegious acts can be imprisoned for 10 years to life and fined between 5 lakh and 25 lakh rupees.
• Sacrilege under the Act: It cov­ers any “wil­ful and delib­er­ate” act of desec­ra­tion through phys­ical dam­age, deface­ment, burn­ing, tear­ing or theft of the Guru Granth Sahib and also extends sac­ri­lege equally to acts com­mit­ted in speech, writing and visual representation or through elec­tronic means.
• Sacrilege literally means treating a religious object or place without the respect that it deserves.
• It traditionally concerns conduct i.e. physical desecration or violation of something considered sacred.
• Blasphemy concerns expression, including contemptuous or irreverent speech, writ­ing or imagery about a god, a prophet, a scripture or a set of beliefs.
• Legal Stand: Sec­tion 298 of the Bhar­atiya Nyaya San­hita pun­ishes injur­ing or defil­ing a place of wor­ship with intent to insult a reli­gion, a sac­ri­lege­ type offence aimed at con­duct.
• Sec­tion 299 of the BNS pun­ishes delib­er­ate and mali­cious insult to reli­gious beliefs by words, signs or vis­ible rep­res­ent­a­tion.
• Enactment of Section 295A of the Indian Penal Code in 1927 criminalised the “delib­er­ate and mali­cious” acts inten­ded to out­rage the reli­gious feel­ings of any class of cit­izens, whether by words, signs, or vis­ible rep­res­ent­a­tion.
• In 1957, the Supreme Court in Ramji Lal Modi versus State of Uttar Pra­desh upheld the pro­vi­sion’s con­sti­tu­tion­al­ity.
• Article 19(1)(a) (Freedom of speech): The law can be challenged under the fundamental right to freedom of speech and expression.
• Criminalising words, writings, signs or electronic representations can have a chilling effect on legitimate criticism, academic discussion, satire and social reform.
• The State would have to demonstrate that the restriction falls within one of the grounds specifically listed under Article 19(2).

Analytical use

• Connect the development with its institutional, policy, economic, social, environmental or security implications only where supported above.
• In a Mains answer, separate the verified development from broader evaluation and use the named evidence precisely.

Way forward

• Base recommendations on the gaps and institutional responsibilities identified in the source-grounded points.

Polity and Governance SHANTI_Rules_2026 The draft SHANTI Rules 2026 propose a framework for nuclear operator liability, insurance, and financial security as India plans to expand its nuclear power sector and increase private participation. The rules emphasize mandatory financial protections and periodic liability reviews. Syllabus: GS2/Government Policies & Interventions; GS3/Energy

Key factual points

• Polity and Governance SHANTI_Rules_2026 The draft SHANTI Rules 2026 propose a framework for nuclear operator liability, insurance, and financial security as India plans to expand its nuclear power sector and increase private participation.
• The rules emphasize mandatory financial protections and periodic liability reviews.
• Syllabus: GS2/Government Policies & Interventions; GS3/Energy
• Recently, the government has released the draft SHANTI Rules, 2026, proposing detailed norms on nuclear operator liability, insurance and financial security amid plans to expand nuclear power and private participation.
• The draft SHANTI Rules, 2026 seek to operationalise the nuclear liability framework under the SHANTI Act, 2025 and provide greater regulatory clarity for the expansion and diversification of India’s nuclear sector.
• The rules combine strict operator liability, mandatory financial protection and lifecycle financial planning with provisions for wider applications of nuclear technology.
• Strict and No-Fault Liability: Nuclear installation operators would be strictly liable for nuclear damage, without requiring proof of fault.
• Liability would also cover damage occurring during the carriage of nuclear material.
• Mandatory Financial Protection: Operators need to maintain an insurance policy, financial security, or a combination of both.
• Financial security needs to be irrevocable and remain valid until all spent fuel is removed from the spent-fuel storage pool after removal from the reactor.
• These would be pledged to the Central Government, with a 1:1.33 security margin where shares, bonds or other financial instruments are used.
• Any shortfall must be immediately covered through additional insurance or financial security.

Prelims traps

• Distinguish the immediate development from the permanent mandate or structure of the institution concerned.
• Revise exact names, dates, locations and legal or institutional terms from the source points; do not infer facts not stated there.

Background and key dimensions

• The draft SHANTI Rules, 2026 seek to operationalise the nuclear liability framework under the SHANTI Act, 2025 and provide greater regulatory clarity for the expansion and diversification of India’s nuclear sector.
• The rules combine strict operator liability, mandatory financial protection and lifecycle financial planning with provisions for wider applications of nuclear technology.
• Strict and No-Fault Liability: Nuclear installation operators would be strictly liable for nuclear damage, without requiring proof of fault.
• Liability would also cover damage occurring during the carriage of nuclear material.
• Mandatory Financial Protection: Operators need to maintain an insurance policy, financial security, or a combination of both.
• Financial security needs to be irrevocable and remain valid until all spent fuel is removed from the spent-fuel storage pool after removal from the reactor.
• These would be pledged to the Central Government, with a 1:1.33 security margin where shares, bonds or other financial instruments are used.
• Any shortfall must be immediately covered through additional insurance or financial security.
• Wider Nuclear Applications: The framework envisages nuclear technology beyond electricity generation, including captive power and process heat, hydrogen production, medical isotopes, education, training and research.
• Nuclear captive power for hard-to-abate industries.
• Emerging applications such as data centres, semiconductor manufacturing, quantum technologies, high-performance computing and **AI-**enabled technologies.
• Lifecycle Financial Planning: Licensed facilities would need financial arrangements for civil liability, operating costs, spent fuel and radioactive waste management, decommissioning and site remediation.

Analytical use

• Connect the development with its institutional, policy, economic, social, environmental or security implications only where supported above.
• In a Mains answer, separate the verified development from broader evaluation and use the named evidence precisely.

Way forward

• Base recommendations on the gaps and institutional responsibilities identified in the source-grounded points.