Daily Current Affairs for UPSC IAS: 14th February 2025

Public Accounts Committee : Review The Existing Rules On National Highways

The Public Accounts Committee of Parliament recently directed the government to review the existing rules that decide the toll tax on National Highways.

• Public Accounts Committee (PAC) is a committee of selected members of parliament, constituted by the Parliament of India, for the purpose of auditing the revenue and expenditure of the Government of India.
• It serves as a check on the government, especially with respect to its expenditure bill, and its primary function is to examine the audit report of the Comptroller and Auditor General (C&AG) after it is laid in Parliament.
• C&AG assists the committee during the course of the investigation.
• The main function of the committee is to ascertain whether the money granted by parliament has been spent by the government within the scope of the demand.
• It is one of the oldest Parliamentary Committees in India.
• From its inception in the year 1921 till early 1950, the Finance Member was appointed as the Chairperson of the Committee, and its secretarial functions were looked after by the Finance Department (later Ministry of Finance).
• PAC consists of not more than twenty-two members, fifteen elected by Lok Sabha, and not more than seven members of Rajya Sabha.
• The functions of the Committee include examination of accounts showing the appropriation of sums granted by Parliament for the expenditure of the Government of India, the annual finance accounts of the Government, and such other accounts laid before the House as the Committee may think fit.

P-8I Aircraft:

India is looking to revive the proposal to procure six more P-8I long-range maritime patrol aircraft from the U.S.

• Boeing P-8I Neptune is a long-range, multi-mission maritime patrol aircraft, manufactured by Boeing (a U.S. aerospace company) for the Indian Navy.
• It has replaced the ageing fleet of the Indian Navy’s Tupolev Tu-142 aircraft.\
• The P-8I Neptune is a variant of the P-8A Poseidon used by the United States Navy.
• Its advanced sensors, weapons systems, and long-range capabilities enable it to detect and respond to a wide range of threats, from submarines and surface vessels to environmental challenges.
• It can conduct anti-submarine warfare (ASW), anti-surface warfare (AsuW), intelligence, maritime patrol, and surveillance and reconnaissance missions.
• The aircraft has a length of 39.47 m, wingspan of 37.64 m and height of 12.83.
• The maximum take-off gross weight of the P-8I is 85,139 kg.
• The P-8I is manned by nine crew members.
• It can fly at a maximum speed of 789 km/h and can reach a maximum altitude of 12,496 m.
• It has a maximum range of over 2,222 kilometres with a time on station of four hours

Arab League : Rejected Gaza Relocation Plan

The Arab League rejected U.S. President Donald Trump’s Gaza relocation plan recently, saying it is unacceptable.

• The Arab League, or League of Arab States, is a voluntary association of countries whose peoples are mainly Arabic-speaking or where Arabic is an official language.
• It is a regional organization of Arab states in the Middle East and parts of Africa.
• It was formed in Cairo in 1945 with 6 members: Egypt, Iraq, Transjordan (later renamed Jordan), Lebanon, Saudi Arabia, and Syria, with Yemen
• The league was chartered in response to concerns about postwar colonial divisions of territory as well as strong opposition to the emergence of a Jewish state on Palestinian territory.
• The main aims of the League are to strengthen relations and to coordinate collaboration between member states, to safeguard their independence and sovereignty, and to provide collective consideration of the affairs and interests of the member states.
• Headquarters: Cairo, Egypt.
• Official language: Arabic
• Members: It currently has 22 member states: Algeria, Bahrain, Comoros, Djibouti, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Mauritania, Morocco, Oman, Palestine, Qatar, Saudi Arabia, Somalia, Sudan, Syria, Tunisia, United Arab Emirates, and Yemen.
• There are 4 nations that were conferred observer status by the League: Brazil, Eritrea, India and Venezuela.

Corruption Perceptions Index 2024:

India ranked 96th in the Corruption Perceptions Index (CPI) for 2024, down from 93rd in 2023, with a score of 38, a decline from 39 in 2023.

• CPI is Published annually by the non-governmental organization Transparency International since 1995.
• It ranks 180 countries based on perceived levels of public sector corruption, using a scale from 0 (highly corrupt) to 100 (very clean).
• Denmark topped the CPI 2024 as the least corrupt nation, followed by Finland and Singapore. Among India’s neighbors, Pakistan (135), Sri Lanka (121), and Bangladesh (149) ranked poorly, while China stood at 76.
• While 32 countries have significantly reduced their corruption levels since 2012, 148 countries have either stagnated or worsened during the same period, highlighting the ongoing challenge.
• According to the Transparency International, Corruption hampers climate action by misusing funds meant for mitigation and adaptation, with fossil-fuel interests obstructing policies.
• It also links to declining democracy, instability, and human rights violations, necessitating urgent global action.

In-Vitro Gametogenesis (IVG):

Researchers have developed In-Vitro Gametogenesis (IVG) that enables lab-based reproduction from stem cells that has many benefits compared to In-Vitro Fertilization (IVF).

• IVG is a new reproductive technology that creates eggs and sperm from stem cells collected from skin, hair, or blood.
• These lab-grown gametes can be fertilized to create an embryo, which is implanted into a surrogate to carry the pregnancy.
• Scientists in Japan successfully produced mice using IVG, while the UK researchers expect human trials within three years.
• It could allow same-sex couples, older individuals, and infertile people to have biological children without the need of a donor as in case of IVF.

World Economic Forum Annual Meeting 2025:

The 2025 World Economic Forum (WEF) Annual Meeting concluded in Davos, Switzerland, bringing together global leaders to discuss pressing issues under the theme “Collaboration for the Intelligent Age.”

India at the 2025 WEF:

• India secured over Rs 20 lakh crore in investment commitments, with Maharashtra securing nearly 80% of the total.
• Telangana secured Rs 1.79 lakh crore investment, Kerala emphasized its industrial transformation, and Uttar Pradesh highlighted its vision to become a USD 1 trillion economy by 2029 with Zero poverty.
• The meeting stressed that sustainability is vital for business resilience, urging companies to align growth with global sustainability goals for profitability and societal impact.
• The 2025 WEF highlighted that Artificial Intelligence and green tech offer both opportunities and challenges.
• Responsible AI frameworks and ethical balance with progress is key to improving supply chains, reducing emissions, and enhancing transparency.
• Emphasized that global challenges require multi-sectoral partnerships for impactful solutions. Effective collaborations could unlock USD 12 trillion in market opportunities by 2030.
• Stressed the need for urgent climate action, ensuring decarbonization includes a fair transition for workers and communities.

Romania’s Interim President:

Ilie Bolojan, the President of the Senate, has been sworn in as Romania’s interim President following the resignation of Klaus Iohannis. This political shift comes at a time of uncertainty as the country prepares for new presidential elections in May 2025. Bolojan, a seasoned politician known for his administrative expertise, steps into this role to ensure stability during the transition period.

Mukesh Ambani Tops Asia’s Wealthiest Families List:

Asia’s richest families remain key players in the global economy, dominating industries like technology, finance, real estate, and energy. Bloomberg’s 2025 rankings place Mukesh Ambani and his family at the top, underscoring their continued wealth and business leadership.

RBI Approves Temasek Unit’s Stake Hike in AU Small Finance Bank:

The Reserve Bank of India (RBI) has granted approval to Zulia Investments, a subsidiary of Temasek Holdings, to increase its stake in AU Small Finance Bank to up to 7%. This move highlights Temasek’s growing interest in India’s financial sector and AU Small Finance Bank’s rising prominence. The Jaipur-based bank is the largest small finance bank in India, serving retail, micro, small, and medium enterprises (MSMEs) with a strong presence across the country.

TCS has partnered with Finland-based UPM:

Tata Consultancy Services (TCS) has secured a significant IT transformation deal with UPM, a Finland-based company specializing in sustainable materials. This strategic partnership aims to modernize UPM’s IT infrastructure, focusing on cloud migration, digital transformation, and improving operational efficiency. TCS will manage key IT functions, including data center operations, network services, and end-user support, ensuring a seamless and advanced technology-driven ecosystem for UPM’s 19,000 employees.

Greece’s New President:

The Hellenic Parliament elected Constantine Tassoulas, the former parliamentary speaker, as the new president of Greece. Tassoulas, a senior member of the ruling New Democracy party, secured 160 votes in the 300-seat parliament. He will take over from Katerina Sakellaropoulou, Greece’s first female president, whose term ends in March. The position of president in Greece is largely ceremonial, but the selection reflects the political direction of the country’s leadership.

India Hosts First-Ever International Conference on Governance:

India is hosting the annual Conference of the International Institute of Administrative Science (IIAS) for the first time. The IIAS-DARPG India Conference 2025 is being held in New Delhi from February 10-14, 2025. This global event provides a platform for experts from over 55 countries to discuss innovations in public administration, governance, and policymaking. The conference also includes the annual General Assembly meeting of the IIAS.