Table of Contents

Daily Current Affairs – 3 October 2025

Daily Current Affairs –3 October 2025 : A Comprehensive Overview

Monument Conservation in India

The government has introduced a major heritage policy shift by allowing private players, alongside ASI, to participate in monument conservation through the National Culture Fund.

Introduction –

India, with its vast cultural and historical legacy, is home to over 3,700 protected monuments.
Until now, the Archaeological Survey of India (ASI), under the Ministry of Culture, had the exclusive mandate to conserve and restore these monuments.
However, the government has recently announced a landmark shift in heritage policy by opening monument conservation to private players under a public-private partnership model.
This decision seeks to enhance conservation capacity, bring in corporate participation, and accelerate preservation efforts across the country.

Monument Conservation in India –

Monument conservation in India has historically been the responsibility of the ASI, established in 1861 during British rule and restructured post-independence to safeguard India’s civilisational heritage.
The ASI has undertaken conservation of forts, temples, stepwells, palaces, mosques, and other historical Some of the ASI’s notable works include —
- Restoration of the Sun Temple at Konark (Odisha).
- Structural conservation of the Humayun’s Tomb complex (Delhi).
- Preservation of Ajanta and Ellora caves (Maharashtra).
- Development of heritage museums at Purana Qila and Red Fort (Delhi).
While ASI’s contributions are invaluable, the agency has faced challenges of understaffing, resource constraints, and delays in completing projects.
Critics have often pointed out that relying solely on ASI has slowed the pace of conservation at many sites.

The Policy Shift: Entry of Private Players –

The new heritage conservation model introduces private participation for the first time in core conservation work.
Corporations, PSUs, and private organisations will now be able to directly hire external agencies for conservation work at selected monuments.

• Key features of the policy shift include —

Public-Private Partnership Model: Corporations and donors can directly finance conservation projects through the National Culture Fund (NCF), with 100% tax exemption benefits.
Empanelled Conservation Architects: The Ministry of Culture will empanel reputed conservation architects, from whom donors can select for project execution.
Checks and Balances: While private players will be involved, ASI will retain supervisory Detailed Project Reports (DPRs) must align with the National Policy for Conservation, 2014.
PilotList of Monuments: Initially, 250 monuments will be opened for private participation.

Role of the National Culture Fund –

The NCF, set up in 1996, will play a central role in this new Since its inception, the NCF has received Rs. 140 crore in corporate and PSU donations, funding nearly 100 projects.
Of these, 70 have been completed, including conservation of Bhuleshwar Temple (Pune), Hyderabad’s British Residency, and Mandu monuments (Madhya Pradesh).
Previously, corporates contributed only financially, while ASI handled the work. Under the revised policy, donors will have greater control, being able to directly hire implementing agencies under ASI’s oversight.

Checks, Safeguards, and Criticism –

While the policy marks a major opening, the government has been Safeguards include —

ASI’s Supervisory Role: The ASI must approve DPRs and ensure compliance with conservation standards.
Eligibility Criteria: Executing agencies must have prior experience in heritage conservation of structures over 100 years old.
Credit to Donors: Corporations and donors will be credited at the monument site, incentivising CSR contributions.
Critics argue that opening up conservation to private players risks the commercialisation of heritage sites.
Concerns remain about balancing historical integrity with corporate branding.
However, proponents believe it will help overcome ASI’s limited capacity and bring much- needed efficiency.

Broader Implications –

This policy shift has several implications —
- Capacity Building: With more players, conservation efforts will speed up, especially for lesser-known sites.
- Sustainability:Private funding will reduce the financial burden on the government.
- Public Engagement: Corporate branding and involvement may lead to increased public awareness of heritage conservation.
- Global Standards: Involving reputed conservation architects can help India align with global practices in heritage management.
The move also complements earlier initiatives such as the Adopt a Heritage scheme, which allowed corporates to provide visitor amenities but not conservation work.
Now, with private participation in core conservation, India is expanding the scope of public- private engagement in cultural heritage.

RBI’s Reforms

At a time when India faces rising trade frictions with the US and heightened global debate on alternatives to the dollar, the Reserve Bank of India (RBI) has announced significant measures. These aims to strengthen financial markets, boost corporate financing options, and take concrete steps towards internationalising the rupee.

Key Announcements by the RBI –

Monetary policy decisions — The RBI kept the repo rate unchanged at 5% and monetary policy stance ‘neutral’.
Expanding role of banks in corporate consolidation —
- Takeover financing: Banks allowed to finance corporate acquisitions, previously restricted due to risk concerns.
- Impact: Opens a structured, low-cost financing channel for mergers and acquisitions, enhancing competitiveness and capital expenditure.
- Safeguards: Risk-control measures to ensure funds are used productively.
- Relevance: Aligns with Insolvency and Bankruptcy Code (IBC) framework and helps corporates consolidate faster.

Rupee internationalisation measures —
- Cross-border lending in rupees: Indian banks and their overseas arms are allowed to lend in rupees to residents or institutions in neighbouring countries (Nepal, Bhutan, Sri Lanka).
- Objective: Reduce dollar dependence, strengthen regional financial influence, and build confidence in rupee stability.
- Geopolitical context: Comes amid US threats against BRICS currency initiatives and global debates on dollar dominance.
Boosting market depth and liquidity —
- IPO financing: The RBI proposed increasing the lending limit for IPO financing to Rs 25 lakh from Rs 10 lakh.

Loan against shares: It also raised the limit on loan against shares to Rs 1 crore from Rs 20 lakh (last revised in 1998).
Loan against listed debt: Ceiling removed to promote bond market
SRVA surplus use: Surplus balances in Special Rupee Vostro Accounts (SRVAs) can now be invested in corporate bonds and commercial papers, enhancing liquidity.

Expanding forex benchmarking —
- Expanding the list of currencies: Benchmarked by the Financial Benchmarks India Limited (FBIL), adding more currencies beyond USD, Euro, Pound, Yen.
- Significance: Reduces inefficiencies of dollar routing, deepens rupee market, strengthens rupee as a trading and settlement currency.
Relaxation of large borrower lending framework —
- 2016 restrictions scrapped: Banks can lend more freely to large corporates with exposures above ₹10,000 crore.
- Risk management: Individual bank risks addressed under the Large Exposure Framework; system-wide risks to be managed with macro-prudential tools.

Broader Implications of the Latest RBI’s Reforms –

Corporate sector — Access to structured takeover financing strengthens India ’s competitiveness.
Banking sector — Greater role in corporate growth stories, diversification of loan books, and higher returns.
Financial markets — Deeper IPO financing, bond market growth, and improved liquidity
Regional economy — Moves to internationalise the rupee enhance India’s financial influence in South Asia.
Geopolitics — Strategic push for rupee amid US dollar dominance debates and BRICS alternative currency discourse.

Way Forward –

Strengthen risk management — Ensure safeguards against reckless corporate borrowing and asset bubbles.
Promote regional adoption of rupee — Expand bilateral and multilateral trade settlements in rupee.
Boost investor confidence — Deepen corporate bond markets and ensure transparency in forex benchmarks.
Gradual integration — Move cautiously to avoid external shocks while pushing rupee internationalisation.

Conclusion –

The RBI’s latest reforms mark a decisive shift from a conservative, inward-looking financial system to one aspiring for regional dominance and global relevance, signalling confidence in India’s economic resilience.
These reforms carry risks but reflect a larger ambition: to make the rupee travel beyond borders and empower Indian corporates to expand their global footprint, thereby strengthening India’s financial sovereignty in an evolving multipolar world.

RBI focuses on Growth with Regulatory Easing

The RBI’s Monetary Policy Committee (MPC) kept the repo rate unchanged at 5.5% with a ‘neutral’ stance on October 1, 2025, after already cutting rates by 100 bps this year.

With retail inflation projected to average 2.6% in 2025-26, well below the 4% target, the RBI has space for future cuts but chose to “keep its powder dry.”

Instead of relying only on rate changes, the RBI unveiled 22 structural measures to spur growth through regulatory easing and reforms. Economists noted the central bank’s message: growth support can extend beyond interest rates, with a focus on long-term stability and resilience.

RBI Monetary Policy October 2025: Growth Focus with Stability –

Repo rate unchanged at 5% with a neutral stance.
A neutral stance implies that the central bank neither seeks to stimulate the economy nor tighten liquidity, balancing efforts to control inflation without impeding growth.
RBI balances growth momentum with financial stability.
Inflation projected well below target, creating policy space for future easing.

• Stronger Growth Ahead —

GDP growth forecast revised up to 8% for FY 2025-26 (from 6.5%).
Drivers: strong consumption, rising investments, government spending, good monsoon, GST 2.0, and better credit flow.
Quarterly projections: Q1 – 8%, Q2 – 7.0%, Q3 – 6.4%, Q4 – 6.2%.
FY 2026-27 growth estimated at 6%, assuming stability and normal monsoon.
Consumer optimism remains high in both urban and rural households.

• Global Agencies Reaffirm Growth —

Agencies highlight resilience amid global uncertainties:
- IMF – 4% (FY26)
- Fitch – 9% (FY26), 6.3% (FY27)
- S&P Global – 5% (FY26)
- UN – 3% (FY26), 6.4% (FY27)
- OECD – 7% (FY26)
Confidence reinforced by structural reforms, strong domestic demand, and vibrant services sector.

• Prices Stay Stable —

CPI inflation forecast cut to 6% for FY 2025-26 (earlier 3.1%).
Inflation fell to 6% in July 2025, an 8-year low.
Driven by 9-month food price decline (-10.5%) and milder summer temperatures.
GST rationalisation (Sept 2025) reduced consumer prices for 4% of the CPI basket.

• Global Demand Steady —

Current account deficit narrowed to 2% of GDP in Q1 FY 2025-26 (from 0.9% a year ago).
Supported by services exports and record remittances (US$35.3 billion).
Merchandise exports up 5%, imports up 2.1% (Apr–Aug 2025).
Gross FDI inflows at US$ 7 billion; net inflows at US$ 10.8 billion.
Major contributors: Singapore, US, Mauritius, UAE,

Why RBI kept repo rate unchanged?

During recent MPC meet, the RBI adopted a neutral stance — recognising strong domestic momentum, low inflation, and reforms as positives, but staying vigilant about external risks.
Stability is prioritised for now, while keeping options open for future rate action if needed.

• External Headwinds: Global Uncertainty —

Trade tensions and tariffs with the US may hurt external demand.
Geopolitical risks and volatility in global financial markets remain downside risks.
These global shocks could spill over into India’s trade flows and capital markets, warranting caution.

• Domestic Tailwinds: Growth Drivers —

GDP Growth Upgrade: RBI revised FY26 projection to 6.8% from 6.5%, citing reforms and strong demand.
Reform Push: GST rationalisation and structural reforms announced in August are expected to cushion external shocks.
Agriculture & Rural Boost: Above-normal monsoon, kharif sowing, and reservoir levels support farm output and rural demand.
Urban Consumption: Buoyancy in services sector and stable jobs lift consumption.
Investments Rising: Capacity utilisation, conducive financial conditions, and improving domestic demand will aid fixed investment.

• Inflation: Well Within Comfort Zone —

CPI Inflation Revised Down: FY26 forecast cut to 2.6% from 3.1%, driven by falling food prices and GST rationalisation.
Food Inflation Stable: Good harvest prospects and stable supply keep food prices in check.
Impact of GST Reforms: Lower CPI prices for multiple items reduce headline inflation.
Inflation trajectory firmly within the 2–6% RBI comfort zone, opening space for growth support later if needed.

• Growth vs Risks: The Balancing Act —

Upside Surprise: Q1 FY26 GDP grew 8%, fastest in five quarters.
Caution Ahead: Q3 growth expected to slow due to trade frictions and tarrifs.
MPC highlights that while domestic drivers are resilient, external vulnerabilities remain significant.

• Rationale for Holding Rates —

Wait-and-Watch Approach: Earlier frontloaded monetary easing and fiscal measures are still working through the system.
Policy Flexibility: Keeping repo steady ensures the RBI retains room to cut if external shocks worsen.
Borrower Impact: Lending rates linked to repo remain unchanged; MCLR loans may adjust with banks’ cost of funds.

US Government Shutdown

The US government entered a shutdown on October 1, 2025, at 12:01 AM—the first in seven years—after Republicans and Democrats failed to agree on federal funding. The impasse has forced thousands of federal employees into furlough and disrupted essential public services.

Economic consequences include delayed release of key US data, adding uncertainty to markets. Since 1980, the US has witnessed 14 shutdowns, three of which occurred during Trump’s first term.

What triggers a US Government Shutdown?

A US government shutdown occurs when Congress fails to pass annual appropriations bills— about a dozen in total—that allocate funds for federal agencies, and the President does not give assent before the October 1 deadline.
These bills are often bundled into an “omnibus” package to hasten
If funding lapses, government operations are forced to either fully or partially shut down, depending on which agencies remain unfunded.

Reasons Behind the US Government Shut Down –

The current US government shutdown stems from a deadlock between Republicans and Democrats over federal funding.
Democrats demanded an extension of expiring healthcare subsidies and the reversal of Medicaid cuts introduced under Trump’s “Big, Beautiful Bill” — a sweeping tax and spending package passed earlier this year.
The law boosted defence spending and tax breaks for the wealthy by cutting federal programs, including Medicaid, while funding departments like Defence and Homeland Security, which continue to operate despite the shutdown.
Republicans pushed for a “clean” continuing resolution to extend funding at current levels until November 21, but Democrats countered with a proposal that tied funding to healthcare provisions and limits on Trump’s fiscal powers.
The standoff over these conditions caused Congress to miss the October 1 deadline, triggering the shutdown.

Impact of the US Government Shutdown –

A shutdown halts all non-essential federal government functions under the Antideficiency Act, while essential services for safety and property protection This affects employees, citizens, and the broader economy.
For federal employees, around 750,000 are expected to be furloughed, losing $400 million per day in back pay, similar to the 2018–19 shutdown that sent 800,000 home.
Essential workers, including military personnel, law enforcement, and constitutional officers, will continue working.
For the public, core benefits like Medicare, Medicaid, and Social Security remain operational since they are permanently funded.
However, new enrolments may face delays, travel and transport disruptions could occur if airport staff protest unpaid salaries, and public landmarks may shut down.
For the economy, the extent of damage depends on the shutdown’s duration. The 2018–19 shutdown cost $11 billion in lost output, with $3 billion never recovered.
The current closure could delay critical data releases such as the September jobs report, complicating Federal Reserve decisions on interest rates and forcing reliance on regional data instead.

Why this Shutdown Could Be Different?

Unlike previous shutdowns, the current one may have lasting consequences due to the role of Trump’s Department of Government Efficiency, a quasi-government body aimed at shrinking federal operations.
Instead of treating the shutdown as a temporary pause, the department has encouraged federal agencies to view it as an opportunity for permanent workforce reduction.
In a memo, the Office of Management and Budget advised agencies to plan for “reduction in force” rather than simply furloughs.
This means that programs without mandatory appropriations could face permanent staff cuts, intensifying the impact of the shutdown.

Pandemic Emergency

The amended International Health Regulations (IHR) came into effect in September 2025, introducing a new legal category — Pandemic Emergency. These amendments were adopted by consensus at the 77th World Health Assembly in June 2024 through Resolution WHA77.17.

What is a Pandemic Emergency?

A pandemic emergency is a newly defined sub-category of a Public Health Emergency of International Concern (PHEIC). It applies when a communicable disease —

Spreads widely across regions and countries,
Overloads health systems,
Causes significant social and economic disruption, and
Requires rapid, coordinated international action.

Thus, it represents a higher threshold built upon the PHEIC framework.

Key Amendments under IHR (2024) –

Decision-making — WHO Director-General can determine if a PHEIC amounts to a pandemic emergency (Article 12).
National IHR Authorities — Every country must designate an authority to coordinate across
Financial Mechanism — A global financing facility is introduced to support developing countries in pandemic preparedness.
States Parties Committee — A non-punitive oversight body to assist and guide

Features of Pandemic Emergency –

Tiered Alert System — Pandemic emergency is a higher tier beyond PHEIC.
Broader Triggers — Based on health overload, socioeconomic disruption, and whole-of- society response needs.
Equity & Solidarity — Focus on fair access to vaccines, medicines, and financial support.
Respect for Sovereignty — WHO cannot impose domestic measures such as lockdowns; national governments retain control.
Integration — Enriches the PHEIC mechanism, avoiding duplication of procedures.

Significance –

Legal Certainty — Establishes clear criteria for when a global pandemic can be declared.
Faster Response — Enables quicker mobilisation of international resources and expertise.
Equity in Support — Developing nations gain access to dedicated financial and technical assistance.
Global Coordination — Reinforces international cooperation while respecting state sovereignty.

Conclusion –

The creation of a pandemic emergency category strengthens global health governance by bridging the gap between national sovereignty and international solidarity. It ensures clarity, faster response, and fairer distribution of resources, making the world better prepared for future health crises.

Beti Bachao, Beti Padhao

The Beti Bachao, Beti Padhao (BBBP) scheme has completed a decade, showing measurable progress in improving the sex ratio at birth and girls’ education outcomes across India.

Impact –

Sex ratio at birth improved from 919 (2015–16) to 929 (2019–21).
20 out of 30 States/UTs now perform above the national average.
Enhanced awareness: surveys in MP show 5% people aware of BBBP, with 63.2% motivated to send daughters to school.

Societal and Demographic Ripple Effect –

Fertility Transition — With education, women delay marriage and childbirth, lowering India’s TFR to 2.0 (NFHS-5).
Health Outcomes — Educated women access institutional deliveries and healthcare, reducing IMR from 49 (2014) to 33 (2020).
Workforce Entry — Higher literacy enables women’s participation in STEM, healthcare, and entrepreneurship, diversifying the economy.
Breaking Patriarchy — Visible success stories—fighter pilots, CEOs, ISRO scientists—reshape gender roles for future generations.
Demographic Dividend — Female education aligns with demographic stability, creating healthier families and controlled population growth.

Long-Term Transformation & Multiplier Effect –

Educated Mothers’ Advantage — Mothers with schooling ensure better nutrition, learning, and health outcomes for children.
Generational Change — One educated girl influences her siblings and children, creating an intergenerational cycle of progress.
Economic Multiplier — Women in the workforce contribute to household income and national GDP growth simultaneously.
Community Leadership — Educated women take leadership roles in Panchayats, SHGs, and civil society, ensuring inclusive development.
Positive Feedback Loop — Education → empowerment → healthier families → stronger economy → progressive society ensures sustainable reform.

About the ‘Beti Bachao, Beti Padhao’ scheme –

The name Beti Bachao, Beti Padhao translates to ‘Save the girl child, educate the girl child’.
Beti Bachao Beti Padhao (BBBP) was launched by the Central government in January, 2015.
The scheme aims to achieve the following goals –
- Improve the child sex ratio
- Ensure gender equality and women empowerment
- Prevent gender-biased, sex selective elimination
- Ensure survival and protection of the girl child
- Encourage education and participation of the girl child

Nodal Ministries – It is a tri-ministerial effort of –
- Ministry of Women and Child Development (MoWCD)
- Ministry of Health & Family Welfare
- Ministry of Education
- Budgetary control and administration of the BBBP falls under the MoWCD’s purview.

Laser Interferometer Lunar Antenna (LILA)

Scientists have proposed the Laser Interferometer Lunar Antenna (LILA) as a next-generation project to detect gravitational waves directly from the Moon’s surface.

What is an Interferometer?

An interferometer is a precision instrument that uses the interference of light waves to measure extremely small changes in distance. This principle is used in gravitational-wave detection.

About LILA –

Objective — Detect mid-frequency gravitational waves (0.1–10 Hz), a range inaccessible to Earth-based LIGO or space-based LISA.
Lead Institution — Vanderbilt Lunar Labs, USA, in collaboration with global partners.
Design — Network of lunar interferometers placed on the Moon’s surface.
Significance — Fills the “decihertz gap” in the gravitational-wave spectrum.

Developmental Phases –

• Pioneer Phase —

Roboticdeployment of an interferometer with 3–5 km arms.
Test of mid-band sensitivity and new technologies.

• Horizon Phase —

Construction of a triangular array with 40 km-long arms.
Astronaut-led assembly using quantum sensors and advanced seismic isolation.

Why the Moon?

Vacuum Advantage — No atmosphere to distort laser signals.
Low Seismic Noise — The Moon has fewer vibrations than Earth.
No Newtonian Noise — Absence of oceans and large mass movements reduces disturbances.

Scientific Significance –

Complements LIGO & LISA — Bridges the gap in the gravitational-wave
Astrophysical Breakthroughs — Enables study of intermediate-mass black holes and exotic cosmic events.
Lunar Science — Provides insights into the Moon’s deep interior, aiding 3D geophysical mapping.

Conclusion –

If realised, LILA will revolutionise astrophysics, enabling humanity to observe parts of the universe never seen before. Its lunar placement could make it the quietest and most sensitive gravitational-wave detector ever built, marking a leap forward in space science.

National Pulses Mission

The Union Cabinet approved the National Pulses Mission (2025–31) with an outlay of ₹11,440 crore to boost pulse production and reduce import dependency.

About National Pulses Mission –

What it is?
- A six-year central programme (2025–31) under the Ministry of Agriculture & Farmers’ welfare.
- Designed to achieve Aatmanirbharta in pulses, ensuring food and nutritional security.
Aim — Raise domestic pulse production from 242 lakh tonnes (2024–25) to 350 lakh tonnes by 2030–31.
Nodal Ministry — Union Ministry of Agriculture & Farmers’
Term — 2025–26 to 2030–31 (six years).
Budget allocation — ₹11,440
Key Features —
- Production Boost: Expand area to 310 lakh hectares, with yield target of 1,130 kg/ha.

Seed Security: Distribution of 126 lakh quintals of certified seeds and 88 lakh free seed kits; monitored through SATHI portal.
Assured Procurement: 100% procurement of Tur, Urad, and Masoor at MSP for four year.
Infrastructure Support: 1,000 post-harvest processing units with subsidy up to ₹25 lakh each.
Research & Innovation: Multi-location trials for climate-resilient and pest-resistant pulse varieties.
Farmer Training: Capacity-building programmes for adoption of modern techniques.

Significance —
- Food & Nutritional Security: Pulses are a vital protein source in Indian diets.
- Import Reduction: Cuts 15–20% import dependency, saving forex.
- Farmer Welfare: Ensures MSP-based income stability and value-chain strengthening.

MCQs