1. Union Finance Minister Sitharaman presented Budget 2025-26 in the Parliament on Feb 1st
2. Maldives, Afghanistan see increase in aid, Myanmar grant cut in Budget 2025
3. PM Modi virtually attends Maha Kumbhabhishekam of Jakarta Murugan Temple in Indonesia
4. India voices concern amid Maldives’ FTA with China, will take into account while framing own policies
5. ISRO’s NVS-02 Satellite Suffers Setback as Thrusters Fail to Fire

What Else

1. DRDO Conducts Successful Tests of Very Short Range Air Defence System
2. Maha Kumbh: Over 1.65 Million Devotees Participate In ‘Amrit Snan’ On Basant Panchami
3. Indians Top List of Asian Illegal Immigrants Caught at US Checkpoints
4. Indians top list of Asian illegal immigrants caught at US checkpoints
5. Bihar Police Bust Prostitution Ring, Rescue 11 Minors
6. “If you don’t introspect you lose time and direction”: Ajit Doval
7. Panama Withdraws From China Deal As Trump Issues New Threat: ‘Something Very Powerful…’
8. China condemns US tariffs but keeps door open for talks
9. Japan reaffirms support for Bangladesh interim govt

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Union Finance Minister Sitharaman presented Budget 2025-26 in the Parliament on Feb 1^st

• Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman presented the Union Budget 2025-26, estimating total receipts at ₹34.96 lakh crore and total expenditure at ₹50.65 lakh crore, with a GDP fiscal deficit of 4.4%.
• Key initiatives include Prime Minister Dhan-Dhaanya Krishi Yojana to enhance agricultural productivity, a comprehensive program for rural prosperity, and a National Mission on High Yielding Seeds.
• For MSMEs, the budget proposes enhanced investment limits, customized credit cards, and a new Fund of Funds for startups.
• Investment in education is prioritized with initiatives like 50,000 Atal Tinkering Labs and expanded medical education.
• Infrastructure development is supported through a ₹1.5 lakh crore outlay for states and a Maritime Development Fund.
• The budget also emphasizes innovation with a ₹20,000 crore allocation for R&D and a National Geospatial Mission.
• Export promotion is addressed through a new mission and the BharatTradeNet platform. Financial sector reforms include raising the FDI limit in insurance and establishing a Grameen Credit Score framework.
• Overall, the budget aims to drive growth across agriculture, MSMEs, education, infrastructure, innovation, and exports. (more)
• Centre aims to Make India ‘Food Basket of the World’: FM stated that the Centre is working to make India the “food basket of the world” by increasing agricultural production and exports, leveraging the country’s agricultural strengths. (more)
• Defence budget increases by 9.52% but the devil is in the details: India’s defense budget for 2025 has increased by 9.52%, with a total allocation of $75 billion, ranking fourth globally behind the US, China, and Russia.
• This significant boost aims to enhance India’s military capabilities and modernize its armed forces.
• However, experts suggest that the actual increase is lower due to inflation and pension liabilities.
• The allocation will be utilized for various defense initiatives, including procurement, maintenance, and pensions. (more)

Maldives, Afghanistan see increase in aid, Myanmar grant cut in Budget 2025

• The Union Budget 2025-2026 has allocated increased funds for several countries, including:
• Maldives: 50% increase to $750 million, surpassing the revised estimates
• Afghanistan: Allocation doubled to $1.25 million (doubled from last year), reflecting warming diplomatic relations.
• Mauritius: $625,000 (increased from $462,500 last year)
• Bhutan remains the largest beneficiary, with a total allocation of $2.69 billion (retains the top spot on grants and loans).
• Sri Lanka: $375,000 (no change from last year)
• Bangladesh: $150,000 (no change from last year) (more)

PM Modi virtually attends Maha Kumbhabhishekam of Jakarta Murugan Temple in Indonesia

• PM Modi virtually participated in the Maha Kumbhabhishekam ceremony of the Jakarta Murugan Temple, Indonesia’s first temple dedicated to Lord Murugan.
• He described the temple as a beacon of spirituality, culture, and unity, highlighting the historical and cultural connections between India and Indonesia.
• PM Modi emphasized that the relationship between India and Indonesia is rooted in thousands of years of shared culture, history, faith, devotion, and spirituality.
• He noted that the temple’s inauguration marks a new golden chapter in the centuries-old heritage of the two nations.
• The temple, which was built with the support of 72 Indian Gurukals, represents a confluence of Indian, Javanese, and Balinese traditions, embracing the values of Pancasila.
• It serves as a spiritual sanctuary, cultural exchange center, and tourist destination, deepening Indonesia’s ties with India. (more)

India voices concern amid Maldives’ FTA with China, will take into account while framing own policies

• India has expressed concerns over the Maldives’ free trade agreement (FTA) with China and a potential trade deal with Türkiye.
• The Ministry of External Affairs Spox stated that recent agreements likely to result in revenue loss for the Maldives Govt are a matter of concern and do not bode well for the long-term fiscal stability of the country.
• The China-Maldives FTA, which came into force on Jan 1, 2025, is expected to benefit China and reduce the Maldives’ revenue from customs duties.
• The Maldives has been facing liquidity challenges, and the agreement may exacerbate the issue. (more)

ISRO’s NVS-02 Satellite Suffers Setback as Thrusters Fail to Fire

• The Indian Space Research Organisation’s (ISRO) NVS-02 satellite has encountered a technical glitch, with its thrusters failing to fire.
• The satellite, launched on January 26, was intended to provide navigation services.
• ISRO is currently investigating the issue. (more)

DRDO Conducts Successful Tests of Very Short Range Air Defence System

• The Defence Research and Development Organisation (DRDO) has successfully conducted 3 consecutive tests of the Very Short Range Air Defence System (VSHORADS) from a test range in Chandipur, Odisha.
• The VSHORADS is a man-portable air defense system that neutralizes aerial threats at close ranges.
• Equipped with a high-resolution infrared seeker and advanced propulsion system, the system demonstrated its capability to engage and destroy targets at specified ranges.
• The successful tests pave the way for the system’s induction into the Indian Armed Forces, providing a potent air defense capability to counter aerial threats. (more)

Maha Kumbh: Over 1.65 Million Devotees Participate In ‘Amrit Snan’ On Basant Panchami

• Over 1.65 million devotees took a holy dip at the Triveni Sangam in Prayagraj on the occasion of Basant Panchami, marking the third ‘Amrit Snan’ (holy bath) at the Maha Kumbh Mela.
• By 7:30 pm, all 13 Akharas had taken a holy dip, with flower petals showered on saints and seers. The UP govt expects a footfall of around five crore pilgrims on Monday alone.
• The Maha Kumbh Mela, which began on Jan 13, has already seen over 34 crore devotees participate in the sacred bathing ritual.
• The Amrit Snan is considered the grandest and most sacred ritual of the Maha Kumbh Mela, with devotees believing that taking a dip during special celestial alignments washes away their sins and paves the path for ‘moksha’ (salvation).
• Key Bathing Dates for Kumbh Mela 2025:
• Makar Sankranti (First Shahi Snan): January 14, 2025
• Mauni Amavasya (Second Shahi Snan): January 29, 2025
• Basant Panchami (Third Shahi Snan): February 3, 2025
• Maghi Purnima: February 12, 2025
• Maha Shivratri (Final Snan): February 26, 2025 (more)

Indians Top List of Asian Illegal Immigrants Caught at US Checkpoints

• According to US Customs and Border Protection data, Indians topped the list of Asian nationals apprehended for illegal immigration at US checkpoints in 2022.
• A total of 7,970 Indians were caught, followed by 2,819 Chinese and 1,513 Filipinos.
• The data also revealed a significant increase in the number of Indians attempting to enter the US illegally, with a 567% rise from 2021.
• The majority of Indians were caught at checkpoints along the US-Mexico border.
• The surge in Indian nationals attempting to enter the US illegally has raised concerns about human trafficking and smuggling networks. (more)
• According to the US Customs and Border Protection data, in the 2024 fiscal year, 90,415 Indian citizens were caught trying to enter the US illegally.
• This number is slightly lower than the 96,917 Indian citizens caught in the 2023 fiscal year.
• Total Apprehensions: 90,415 Indian citizens were caught trying to enter the US illegally in the 2024 fiscal year.

Indians top list of Asian illegal immigrants caught at US checkpoints

• The Enforcement Directorate (ED) has been cracking down on overseas illegal wealth, attaching assets worth approximately ₹16,000 crore in 16 foreign jurisdictions.
• This move is aimed at tracing and recovering proceeds of crime generated through various illegal activities.
• Some notable cases include:
• Attachment of Assets Linked to Chinese Entities: The ED has attached assets in India and Dubai linked to Chinese entities in a money laundering case.
• Assets Worth ₹1.52 Crore Attached: The ED has provisionally attached movable assets worth ₹1.52 crore under the provisions of the Prevention of Money Laundering Act.
• Seizure of Cash and Luxury Cars: The ED has seized ₹1.3 crore in cash and luxury cars in a case against ex-promoters of Kwality Pharmaceuticals. (more)

Bihar Police Bust Prostitution Ring, Rescue 11 Minors

• A Muslim gang led by Aftab Khan was arrested for entrapping Hindu girls in a prostitution ring in Purnia, Bihar.
• Khan used a fake Hindu identity, “Ankit Tiwari,” to lure girls into marriage, then coerced them into prostitution.
• 11 minors were rescued, and 32 people, including Khan’s aides, were arrested.
• The gang charged ₹10,000 per night and sold victims to other states.
• Khan is currently on the run, and a manhunt is underway. (more)

“If you don’t introspect you lose time and direction”: Ajit Doval

• NSA Ajit Doval emphasized the importance of introspection for individuals, states, and societies, stating that without it, we risk losing time and direction
• He highlighted that stagnation occurs when societies fail to generate new ideas and think outside the box.
• Doval also noted that the relationship between state and religion is complex and requires constant examination.
• Other speakers, including MJ Akbar and Ahmet T Kuru, stressed the need for Muslims to adopt a knowledge-based society, accept citizenship, and respect democracy to overcome backwardness. (more)

[Neighborhood]

Panama Withdraws From China Deal As Trump Issues New Threat: ‘Something Very Powerful…’

• Panama has withdrawn from a deal with China amid rising tensions between the US and China over the Panama Canal.
• This move comes after US President Donald Trump threatened to take back the canal, which is a crucial waterway connecting the Atlantic and Pacific Oceans.
• Trump has accused Panama of breaking promises made during the canal’s transfer to Panama in 1999 and of ceding its operation to China.
• However, Panama’s President Jose Raul Mulino has denied these allegations, stating that Panama has administered the canal responsibly for world trade, including for the US.
• The situation has sparked concerns about a potential US military intervention, with Trump refusing to rule out the use of force. Panama has maintained that the canal is under its sovereign control and will continue to be operated by Panama.
• In response to the escalating tensions, US Secretary of State Marco Rubio is reportedly planning to visit Panama to address the issue.
• Rubio’s trip is expected to cover several Latin American countries, including Guatemala, El Salvador, Costa Rica, and the Dominican Republic. (more)

China condemns US tariffs but keeps door open for talks

• China has strongly condemned the Trump administration’s new 10% tariff on Chinese imports, calling it a violation of international trade rules. I
• n response, China plans to challenge the tariff at the World Trade Organization (WTO) and take unspecified countermeasures.
• China’s foreign ministry dismissed the US justification for the tariffs, which aims to curb the flow of fentanyl from China.
• China emphasized its existing anti-narcotics cooperation with the US and stated that fentanyl is an American problem.
• While China’s WTO challenge is largely symbolic, it underscores Beijing’s stance against trade restrictions.
• China has urged the US to engage in dialogue and cooperation, recognizing that a trade war would be damaging for both sides.
• The situation is being closely watched, as China’s retaliation could take various forms, including trade restrictions, economic policies, or diplomatic negotiations. (more)

Japan reaffirms support for Bangladesh interim govt

• Japan has reaffirmed its support for Bangladesh’s interim government, seeking to boost bilateral engagement in business and development cooperation.
• Ikuina Akiko, Japan’s Parliamentary Vice-Minister for Foreign Affairs, conveyed this message to Chief Adviser Professor Muhammad Yunus during a meeting in Dhaka.
• Japan is Bangladesh’s largest bilateral development partner, with a trade relationship worth around $4 billion.
• Over 350 Japanese companies operate in Bangladesh, and Japan has been a significant contributor to Bangladesh’s socio-economic development.
• The two are looking to strengthen their ties, with Akiko inviting Professor Yunus to attend the Nikkei 30^th Future of Asia event in Tokyo and the Osaka Expo 2025.

The expo will even dedicate a day to Bangladesh, recognizing the country’s importance in the region. (more)