29 May 2025: PIB Summary For UPSC

1. Cabinet Approves Continuation of Modified Interest Subvention Scheme (MISS) for FY 2025-26

(Source – PIB (Press Information Bureau), May 28, 2025)

Content

• Scheme Overview: MISS offers a 1.5% interest subvention on short-term agricultural loans up to ₹3 lakh, ensuring affordable credit for farmers.

• Objectives:

  • Reduce the cost of credit for farmers.

  • Encourage timely repayment of loans.

  • Enhance agricultural productivity and income.

• Implementation:

  • Applicable to loans provided by public sector banks, private sector banks, cooperative banks, and regional rural banks.

  • Interest subvention is provided to banks, which pass on the benefit to farmers.

• Significance:

  • Supports the government’s goal of doubling farmers’ income.

  • Strengthens the rural credit ecosystem.

  • Promotes financial inclusion in the agricultural sector.

2. Dr. Jitendra Singh Highlights India’s Progress Towards Net Zero 2070 at Battery Summit 2025

(Source – PIB (Press Information Bureau), May 28, 2025)

Content

• Key Highlights:

  • India has risen to the 4th position globally in economic rankings and aims to become the 3rd largest economy.

  • Low-carbon technologies are pivotal for sustainable growth and achieving Net Zero targets.

• Battery Aadhaar Initiative:

  • Introduces unique digital IDs for battery packs.

  • Enhances traceability, safety, and lifecycle management.

  • Supports circular economy and reduces counterfeit products.

• Strategic Developments:

  • Discovery of significant lithium reserves in Jammu & Kashmir.

  • Promotion of innovations in battery manufacturing and e-mobility.

  • Implementation of schemes like PLI for Advanced Chemistry Cells and FAME.

• Global Leadership:

  • India’s proactive role in climate initiatives like Mission LiFE and the International Solar Alliance.

  • Transition from a reluctant participant to a leader in global climate commitments.

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