{"id":156275,"date":"2025-02-21T19:13:37","date_gmt":"2025-02-21T13:43:37","guid":{"rendered":"https:\/\/pwonlyias.com\/stage\/?post_type=current-affairs&#038;p=156275"},"modified":"2025-02-21T19:13:37","modified_gmt":"2025-02-21T13:43:37","slug":"news-in-shorts-21-february-2025","status":"publish","type":"current-affairs","link":"https:\/\/pwonlyias.com\/stage\/current-affairs\/news-in-shorts-21-february-2025","title":{"rendered":"News in Shorts: 21 February 2025"},"content":{"rendered":"<h2 style=\"text-align: center;\"><span style=\"font-size: 18pt;\"><b>Soil Health Card Scheme<\/b><\/span><\/h2>\n<p><b>Context:<\/b><span style=\"font-weight: 400;\"> Soil Health Card Scheme (SHCS) has completed 10 Years since launch.<\/span><\/p>\n<h3><span style=\"font-size: 16pt;\"><b>About Soil Health Card Scheme<\/b><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Launched in <\/span><b>2015.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Aim: <\/b><span style=\"font-weight: 400;\">To <\/span><b>improve soil health and fertility<\/b><span style=\"font-weight: 400;\"> by providing farmers with information on their soil&#8217;s nutrient status and recommendations for appropriate fertilizer use.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Objective: <\/b><span style=\"font-weight: 400;\">To ensure sustainable agricultural practices by promoting balanced fertilization and improving soil health.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Implementation: <\/b><span style=\"font-weight: 400;\">By the Department of Agriculture of all State and Union Territory Governments, under the Ministry of Agriculture and Farmers&#8217; Welfare.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Soil Testing: <\/b><span style=\"font-weight: 400;\">Involves soil sampling, testing, and the generation of Soil Health Cards (SHCs) for every farmer.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>SHC Content: <\/b><span style=\"font-weight: 400;\">Provides information on the nutrient status of the soil, including <\/span><b>macro-nutrients (N, P, K, S)<\/b><span style=\"font-weight: 400;\">, <\/span><b>micro-nutrients (Zn, Fe, Cu, Mn, Bo)<\/b><span style=\"font-weight: 400;\">, pH, electrical conductivity (EC), and organic carbon (OC).\u00a0<\/span><\/li>\n<li><b>Integration with RKVY:<\/b><span style=\"font-weight: 400;\"> Merged in <\/span><b>Rashtriya Krishi Vikas Yojana (RKVY<\/b><span style=\"font-weight: 400;\">) scheme as one of its components under the name<\/span><b> &#8216;Soil Health &#038; Fertility&#8217; <\/b><span style=\"font-weight: 400;\">from the year 2022-23.<\/span><\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 18pt;\"><b>Famine Early Warning Systems Network (Fews Net)<\/b><\/span><\/h2>\n<p><b>Context: <\/b><span style=\"font-weight: 400;\">Recently, A warning and analysis system &#8211; Famine Early Warning Systems Network (Fews Net\u00a0 that focuses on acute food insecurity around the world was shut down on January 30, 2025.<\/span><\/p>\n<h3><span style=\"font-size: 16pt;\"><b>About Famine Early Warning Systems Network (Fews Net)<\/b><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">FEWS NET is<\/span><b> a global system <\/b><span style=\"font-weight: 400;\">that provides <\/span><b>information and analysis<\/b><span style=\"font-weight: 400;\"> on food insecurity.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It was <\/span><b>established in 1985<\/b><span style=\"font-weight: 400;\"> by the <\/span><b>United States Agency for International Development (USAID)<\/b><span style=\"font-weight: 400;\"> and the <\/span><b>US Department of State<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Created after famines in <\/span><b>East and West Africa<\/b><span style=\"font-weight: 400;\">, particularly the <\/span><b>1984-85 famines in Sudan and Ethiopia<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Aims to <\/span><b>predict and prevent<\/b><span style=\"font-weight: 400;\"> food crises by informing decision-makers.<\/span><\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 18pt;\"><b>International Organization of Aids to Marine Navigation (IALA)<\/b><\/span><\/h2>\n<p><b>Context:<\/b><span style=\"font-weight: 400;\"> Recently, India was elected to the Vice Presidency of the International Organization of Aids to Marine Navigation (IALA) in Singapore.<\/span><\/p>\n<h3><span style=\"font-size: 16pt;\"><b>About International Organization of Aids to Marine Navigation (IALA)<\/b><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Formerly known as the International Association of Marine Aids to Navigation and Lighthouse Authorities.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Established:<\/b><span style=\"font-weight: 400;\"> 1957 as a <\/span><b>Non-Governmental Organization (NGO)<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Transition to IGO:<\/b><span style=\"font-weight: 400;\"> In <\/span><b>2024<\/b><span style=\"font-weight: 400;\">, IALA officially became an <\/span><b>Inter-Governmental Organization (IGO)<\/b><span style=\"font-weight: 400;\"> after the ratification of its convention by <\/span><b>34 member states<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Headquarters:<\/b><span style=\"font-weight: 400;\"> Saint-Germain-en-Laye, France.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Purpose:<\/b><span style=\"font-weight: 400;\"> To harmonize and improve marine aids to navigation (AtoN) globally, ensuring safe, efficient, and environmentally friendly maritime navigation.<\/span><\/li>\n<li><b>India\u2019s Role: <\/b><span style=\"font-weight: 400;\">India will host the <\/span><b>IALA Council meeting<\/b><span style=\"font-weight: 400;\"> in <\/span><b>December 2025<\/b><span style=\"font-weight: 400;\"> and the <\/span><b>IALA Conference &#038; General Assembly<\/b><span style=\"font-weight: 400;\"> in <\/span><b>September 2027<\/b><span style=\"font-weight: 400;\"> in <\/span><b>Mumbai<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 18pt;\"><b>Digital Brand Identity Manual (DBIM)<\/b><\/span><\/h2>\n<p><b>Context<\/b><span style=\"font-weight: 400;\">: MeitY launched Digital Brand Identity Manual (DBIM) to harmonize the government\u2019s Digital presence.<\/span><\/p>\n<h3><span style=\"font-size: 16pt;\"><b>About Digital Brand Identity Manual (DBIM)<\/b><\/span><\/h3>\n<ul>\n<li><b>Objective:<\/b>\n<ul>\n<li><span style=\"font-weight: 400;\">To harmonize the <\/span><b>Government of India\u2019s digital footprint<\/b><span style=\"font-weight: 400;\"> under the <\/span><b>Gov.In initiative<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Aligns with the Prime Minister\u2019s vision of <\/span><b>&#8220;Reform, Perform, and Transform&#8221;<\/b><span style=\"font-weight: 400;\"> to make digital governance more <\/span><b>accessible, inclusive, and citizen-centric<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>Features of DBIM initiative<\/b>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>DBIM Toolkit<\/b><span style=\"font-weight: 400;\"> for ensuring uniformity in digital identity.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>Gov.In CMS Platform<\/b><span style=\"font-weight: 400;\"> for streamlined website management.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>Central Content Publishing System (CCPS)<\/b><span style=\"font-weight: 400;\"> for centralized content governance.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>Social Media Campaign Guidelines<\/b><span style=\"font-weight: 400;\"> to standardize digital communication.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3><span style=\"font-size: 16pt;\"><b>About Gov.In: Harmonisation of Government of India&#8217;s Digital Footprint initiative<\/b><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It is a strategic effort by the Government of India, spearheaded by the <\/span><b>Ministry of Electronics and Information Technology (MeitY<\/b><span style=\"font-weight: 400;\">), to create a <\/span><b>unified, consistent, and user-friendly <\/b><span style=\"font-weight: 400;\">digital presence across all government platforms.\u00a0<\/span><\/li>\n<li><b>Aim:<\/b><span style=\"font-weight: 400;\"> To enhance<\/span><b> citizen engagement, <\/b><span style=\"font-weight: 400;\">improve<\/span><b> accessibility<\/b><span style=\"font-weight: 400;\"> to government services, and <\/span><b>streamline<\/b><span style=\"font-weight: 400;\"> the digital experience by standardizing the <\/span><b>online infrastructure<\/b><span style=\"font-weight: 400;\"> managed by various ministries, departments, and agencies.<\/span><\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 18pt;\"><b>Warning to OTTs against \u2018obscene content<\/b><\/span><\/h2>\n<p><b>Context: <\/b><span style=\"font-weight: 400;\">The Ministry of Information and Broadcasting (I&#038;B) issued a warning to <\/span><b>OTT (Over-The-Top) <\/b><span style=\"font-weight: 400;\">streaming services on February 20, 2025.<\/span><\/p>\n<h3><span style=\"font-size: 16pt;\"><b>What is obscene content?<\/b><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Obscene content&#8221; generally refers to material that is offensive or inappropriate according to societal standards of decency.<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-size: 16pt;\"><b>Advisory on Content Restrictions- Highlights<\/b><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Platforms are advised to avoid transmitting any content that is prohibited by law.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">They must classify content based on age, following the Information Technology (Intermediary Liability and Digital Media Ethics Code) Rules, 2021.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">OTT platforms should enforce age-gating for mature content to restrict access to younger audiences<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>IT Rules and Content Classification<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Under the <\/span><b>IT Rules, 2021<\/b><span style=\"font-weight: 400;\">, OTT platforms must:<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Follow strict content classification guidelines.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Establish a <\/span><b>grievance redressal system<\/b><span style=\"font-weight: 400;\"> for user complaints.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Function within a <\/span><b>three-tier system<\/b><span style=\"font-weight: 400;\">:<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"3\"><span style=\"font-weight: 400;\">Users complain directly to <\/span><b>the streaming platform.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"3\"><span style=\"font-weight: 400;\">If unresolved, complaints go to a <\/span><b>self-regulatory body<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">The final authority is an <\/span><b>inter-departmental government committee<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 18pt;\"><b>Microsoft&#8217;s Majorana 1 Chip<\/b><\/span><\/h2>\n<p><b>Context: <\/b><b>Microsoft <\/b><span style=\"font-weight: 400;\">has recently <\/span><b>launched its quantum processor chip called Majorana 1.<\/b><\/p>\n<h3><span style=\"font-size: 16pt;\"><b>About the Majorana 1 Chip<\/b><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Majorana 1 is <\/span><b>an eight-qubit chip <\/b><span style=\"font-weight: 400;\">and allows f<\/span><b>or the quantum chip to be potentially scaled to a million qubit<\/b><span style=\"font-weight: 400;\">s.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Quantum Particle: <\/b><span style=\"font-weight: 400;\">Microsoft has used a <\/span><b>whole new state of matter ie. Majorana particles<\/b><span style=\"font-weight: 400;\"> for the architecture of its quantum chip.\u00a0<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">E<\/span><b>lectrons were used for chips made by Google, <\/b><span style=\"font-weight: 400;\">Intel, IBM before.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>The Topoconductor\/Topological Superconductor:<\/b><span style=\"font-weight: 400;\"> The<\/span><b> Majorana particles <\/b><span style=\"font-weight: 400;\">have been <\/span><b>fabricated using topological conductors<\/b> <b>existing\u00a0 in a topological state,<\/b><span style=\"font-weight: 400;\"> which differs from traditional states of matter such as solid, liquid, and gas.<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>Topoconductor can observe and control <\/b><span style=\"font-weight: 400;\">Majorana particles to produce <\/span><b>more reliable and scalable qubits<\/b><span style=\"font-weight: 400;\">\u00a0 that is fast, small and can be digitally controlled<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">It will <\/span><b>help develop quantum systems that can \u201cscale to a million qubits<\/b><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Material Used:<\/b><span style=\"font-weight: 400;\"> Topoconductors are <\/span><b>made by combining indium arsenide (a semiconductor) and aluminium (a superconductor).<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Approach: <\/b><span style=\"font-weight: 400;\">Microsoft has employed a <\/span><b>new\u00a0 measurement approach that<\/b><span style=\"font-weight: 400;\"> can measure the amount of quantum information stored in Majorana particles.\u00a0<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">The approach can <\/span><b>detect the difference between one billion and one billion and one electrons <\/b><span style=\"font-weight: 400;\">in a superconducting wire<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Application: <\/b><span style=\"font-weight: 400;\">The development will help realise quantum computers to deliver <\/span><b>transformative, real-world,\u00a0 meaningful solutions to\u00a0 industrial-scale problems <\/b><span style=\"font-weight: 400;\">in near future.<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">To break down mi<\/span><b>croplastics into harmless byproducts or inventing self-healing mat<\/b><span style=\"font-weight: 400;\">erials for construction, manufacturing or healthcare etc<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3><span style=\"font-size: 16pt;\"><b>About Majorana Fermions<\/b><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Theory: I<\/b><span style=\"font-weight: 400;\">t was first theorised over<\/span><b> 80 years ago by Italian physicist Ettore Majorana<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Majorana fermions are<\/span><b> particles that are their own antiparticles<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li><b>Majorana zero mode (MZM):<\/b> <span style=\"font-weight: 400;\">Signs have been detected of a kind of Majorana fermion known as a Majorana zero mode (MZM), <\/span><b>where groups of electrons and other particles act as a single particle.<\/b><\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 18pt;\"><b>International Asperger\u2019s Day<\/b><\/span><\/h2>\n<p><b>Context: <\/b><b>The National Institute for Empowerment of Persons with Disabilities (NIEPID) <\/b><span style=\"font-weight: 400;\">under the<\/span><b> Union Ministry of Social Justice and Empowerment <\/b><span style=\"font-weight: 400;\">has organized various programmes across its centres to<\/span><b> raise awareness and promote inclusivity for individuals with Asperger\u2019s Syndrome.<\/b><\/p>\n<h3><span style=\"font-size: 16pt;\"><b>About Asperger\u2019s Syndrome<\/b><\/span><\/h3>\n<ul>\n<li><span style=\"font-weight: 400;\">It is a<\/span><b> type of autism spectrum development disorder (ASD) t<\/b><span style=\"font-weight: 400;\">hat affects how people interact with others, understand the world, and behave.\u00a0<\/span>\n<ul>\n<li><span style=\"font-weight: 400;\">It is also <\/span><b>sometimes called high-functioning autism<\/b><\/li>\n<\/ul>\n<\/li>\n<li><b>Symptoms:<\/b><span style=\"font-weight: 400;\"> Asperger\u2019s symptoms start early in life and are usually related to <\/span><b>emotional, communication, and behavioral skills s<\/b><span style=\"font-weight: 400;\">uch as,<\/span>\n<ul>\n<li><b>Difficulty relating to others socially; Repetitive behaviors; Narrow range of interests; Di<\/b><span style=\"font-weight: 400;\">fficulty understanding social situations; Difficulty understanding subtle forms of communication; Obsessive interests;Clumsiness; Poor motor skills<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>Diagnosis:\u00a0 <\/b><span style=\"font-weight: 400;\">Most diagnoses <\/span><b>happen between ages 5 and 9 <\/b><span style=\"font-weight: 400;\">with doctors asking <\/span><b>questions about communication skills, social and emotional abilities, learning abilities<\/b><span style=\"font-weight: 400;\">, movement skills, and special interests<\/span><\/li>\n<li><b>Therapy: <\/b><span style=\"font-weight: 400;\">Therapy providers for children and adults with Asperger\u2019s syndrome include,<\/span>\n<ul>\n<li><b>Physical therapists<\/b><span style=\"font-weight: 400;\">: It can help improve coordination and balance. It can also help them to focus better when faced with distracting noises or sights.<\/span><\/li>\n<li><b>Speech therapists<\/b><span style=\"font-weight: 400;\">: It can improve the ability to speak clearly and at appropriate volumes.<\/span><\/li>\n<li><b>Occupational therapists:<\/b><span style=\"font-weight: 400;\"> It can help you learn job skills needed to become and stay independent.<\/span><\/li>\n<li><b>Family or relationship therapists:<\/b><span style=\"font-weight: 400;\"> This type of therapy can help children and adults have healthier relationships with friends and loved ones.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>Treatment:<\/b><span style=\"font-weight: 400;\"> It <\/span><b>does not specifically prescribe drugs for treatment<\/b><span style=\"font-weight: 400;\"> but <\/span><b>certain types of medication<\/b><span style=\"font-weight: 400;\">s can help manage severe Asperger\u2019s symptoms like,<\/span>\n<ul>\n<li><b>Antidepressants (SSRIs or selective serotonin reuptake inhibitors).<\/b><\/li>\n<li><b>Anti-psychotics.<\/b><\/li>\n<li><b>Drugs for attention-deficit disorder.<\/b><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 18pt;\"><strong>Dinesh Khara Committee<\/strong><\/span><\/h2>\n<p><b>Context: <\/b><span style=\"font-weight: 400;\">The<\/span><b> Insurance Regulatory and Development Authority of India (IRDAI)<\/b><span style=\"font-weight: 400;\"> has constituted a high-powered committee, led by former <\/span><b>SBI chairman Dinesh Khara,<\/b><span style=\"font-weight: 400;\"> to review key provisions of the <\/span><b>Insurance Act, 1938.<\/b><\/p>\n<h3><span style=\"font-size: 16pt;\"><b>Purpose of the Dinesh Khara Committee<\/b><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">To <\/span><b>review and update the Insurance Act, 1938,<\/b><span style=\"font-weight: 400;\"> making it relevant to modern industry needs.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">To<\/span><b> assess the feasibility of allowing 100% Foreign Direct Investment (FDI)<\/b><span style=\"font-weight: 400;\"> in the insurance sector.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">To facilitate the <\/span><b>establishment of composite insurance companies offering life, non-life, and health insurance under a single entity.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">To enhance policyholder protection measures and ensure that insurance revenue remains within India.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">To propose <\/span><b>necessary amendments<\/b><span style=\"font-weight: 400;\"> for submission to the <\/span><b>Union Finance Ministry for legislative consideration.<\/b><\/li>\n<\/ul>\n<h3><span style=\"font-size: 16pt;\"><b>Evolution of the Insurance Sector<\/b><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>1938<\/b><span style=\"font-weight: 400;\"> : The Insurance Act, 1938, was <\/span><b>enacted during British rule, <\/b><span style=\"font-weight: 400;\">laying the legal foundation for the insurance industry in India.<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">The Act defines<\/span><b> three main categories<\/b><span style=\"font-weight: 400;\"> of insurance in India: <\/span><b>Life Insurance, General Insurance, and Health Insurance.<\/b><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>1956<\/b><span style=\"font-weight: 400;\"> : The<\/span><b> Life Insurance Corporation of India (LIC)<\/b><span style=\"font-weight: 400;\"> was <\/span><b>nationalized.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>1972<\/b><span style=\"font-weight: 400;\"> : The<\/span><b> general insurance<\/b><span style=\"font-weight: 400;\"> sector <\/span><b>was nationalized.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>1999<\/b><span style=\"font-weight: 400;\"> : The<\/span><b> Insurance Regulatory and Development Authority of India (IRDAI)<\/b><span style=\"font-weight: 400;\"> was established, opening the insurance sector to private players.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>2015<\/b><span style=\"font-weight: 400;\"> : The FDI limit in the insurance sector was increased from<\/span><b> 26% to 49%,<\/b><span style=\"font-weight: 400;\"> later raised to <\/span><b>74% in 2021.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>2025 Budget<\/b><span style=\"font-weight: 400;\"> : The<\/span><b> FDI limit was further raised to 100%, <\/b><span style=\"font-weight: 400;\">with the condition that any premium paid for the <\/span><b>acquisition of shares should remain within the country.<\/b><\/li>\n<li><b>2025 Economic Survey<\/b><span style=\"font-weight: 400;\"> :\u00a0 India&#8217;s insurance sector is on a rapid growth trajectory and is expected to become the fastest-growing insurance market among G20 nations within the next five years.<\/span><\/li>\n<\/ul>\n<div class=\"vc_table_green\"><\/p>\n<table style=\"width: 99.6375%;\">\n<tbody>\n<tr>\n<td style=\"width: 111.19%; text-align: center;\" colspan=\"2\"><span style=\"font-size: 18pt;\"><b>Also Read<\/b><\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 49.797%; text-align: center;\"><a href=\"https:\/\/pwonlyias.com\/stage\/editorial-analysis\/\" target=\"_blank\" rel=\"noopener\"><b>UPSC Daily Editorials<\/b><\/a><\/td>\n<td style=\"width: 61.393%; text-align: center;\"><a href=\"https:\/\/pwonlyias.com\/stage\/daily-current-affairs\/\" target=\"_blank\" rel=\"noopener\"><b>UPSC Daily Current Affairs<\/b><\/a><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 49.797%; text-align: center;\"><a 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About Soil Health Card Scheme Launched in 2015. Aim: To improve soil health and fertility by providing farmers with information on their soil&#8217;s nutrient status and recommendations for appropriate fertilizer use. Objective: To ensure sustainable agricultural practices by promoting&hellip; <a class=\"more-link\" href=\"https:\/\/pwonlyias.com\/stage\/current-affairs\/news-in-shorts-21-february-2025\">Continue reading <span class=\"screen-reader-text\">News in Shorts: 21 February 2025<\/span><\/a><\/p>\n","protected":false},"author":11,"featured_media":156270,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"tags":[],"paper-wise":[],"subject":[],"acf":[],"_links":{"self":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/current-affairs\/156275"}],"collection":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/current-affairs"}],"about":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/types\/current-affairs"}],"author":[{"embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/comments?post=156275"}],"version-history":[{"count":2,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/current-affairs\/156275\/revisions"}],"predecessor-version":[{"id":156281,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/current-affairs\/156275\/revisions\/156281"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/media\/156270"}],"wp:attachment":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/media?parent=156275"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/tags?post=156275"},{"taxonomy":"paper-wise","embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/paper-wise?post=156275"},{"taxonomy":"subject","embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/subject?post=156275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}