About Basic Customs Duty (BCD):

• BCD is a type of tax imposed on goods imported into India.
• It is levied on imported items under the Customs Act, 1962. The tax rate is levied as per the First Schedule to Customs Tariff Act, 1975.
• Purpose: To protect domestic industries from foreign competition, regulate trade, and generate revenue for the government.
• BCD is calculated as a percentage of the value of the imported goods, determined based on the customs tariff, i.e., it is fixed based on the ad-valorem.
• It can significantly impact the total landed cost of the imported items.
• The Central Government holds the power to exempt specific goods from tax.
• The calculation of BCD involves several steps:
  • Classification of Goods: Imported goods are classified under specific Harmonized System (HS) codes, which determine the applicable duty rate.
  • Assessment of Value: The value of the goods is assessed based on the transaction value, including the cost of goods, insurance, and freight (CIF).
  • Application of Duty Rate: The BCD Tax rate is applied to the assessed value to determine the duty payable.

Other Types of Custom Duties:

• Additional Customs Duty:
  • Additional Customs Duty, also called Special Countervailing Duty, is a tax that is applied to balance subsidies that exporting countries provide to their products.
  • It helps level the playing field and ensures that domestic producers are not disadvantaged.
• Countervailing Duty (CVD):
  • This duty counters foreign government subsidies on exports.
  • When foreign producers receive subsidies, they can sell at a lower price, creating unfair competition for local industries.
  • CVD safeguards local businesses from this unfair advantage.
• Special Additional Duty (SAD):
  • SAD is levied on imports under the Central Excise Act and applies to the total value, including BCD and CVD.
  • This duty shields domestic industries by offsetting the impact of low-cost imports.
• Anti-Dumping Duty:
  • When foreign goods are sold in India at prices below their value in the exporting country, anti-dumping duty is applied.
  • This duty prevents unfair pricing practices that could damage domestic industries.
• Protective Duties:
  • These duties are designed to protect local industries from competition with cheaper imported goods.
  • By increasing the cost of imports, protective duties make local products more appealing to consumers.
• Safeguard Duties:
  • Imposed under Section 8B of the Customs Tariff Act, safeguard duties are temporary measures to protect local industries from sudden increases in imports.
  • This duty gives domestic industries time to adapt and strengthen their market position.
• National Calamity Contingent Duty (NCCD):
  • NCCD is applied to generate funds for responding to natural disasters and large-scale national emergencies.
  • NCCD rate varies depending on the item and ensures quick resources are available for crisis response.

About Securities Transaction Tax (STT):

• It is a direct tax levied on the purchase and sale of securities listed on recognised stock exchanges in India.
• It is levied and collected by the Central Government.
• It is applied irrespective of the profit or loss made in the transaction. It is levied directly on the value of the transaction.
• STT operates similarly to Tax Deducted at Source (TDS) in that it is deducted at the time of the transaction itself.
• The tax is paid directly to the government through the stock exchanges or other intermediaries involved in the transaction.
• Introduced through the Finance Act of 2004, STT was designed to simplify taxation on securities trading and curb tax evasion in the capital market.
• STT is governed by the Securities Transaction Tax Act (STT Act), and STT Act has specifically listed various taxable securities transactions, i.e., transactions on which STT is leviable.
  • Taxable securities include equities, derivatives, or equity-oriented mutual funds investment units (excluding commodities and currency).
  • It also includes unlisted shares sold under an offer for sale to the public included in IPO and where such shares are subsequently listed in stock exchanges.
  • STT is not applicable to off-market transactions or to commodity or currency transactions.
• The rate of taxation is different for different types of securities.
• The government has the authority to revise STT rates periodically.

What is Futures and Options Trading?

• Futures and options are the major types of stock derivatives trading in a share market.
  • Derivatives are financial contracts whose value is linked to the value of an underlying asset such as shares, stock market indices, commodities, ETFs, and more..
  • They are complex financial instruments that are used for various purposes, including speculation, hedging and getting access to additional assets or markets.
• Futures and Options are contracts signed by two parties for trading a stock asset at a predetermined price at a later date.
• Futures and Options trading are different in terms of obligations imposed on individuals.
  • Futures contracts obligate the buyer to purchase an underlying asset, while the seller must deliver it at a predetermined price and date.
  • In options contracts, the buyer has the right, but not the obligation, to buy or sell the underlying asset at a predetermined price and date, while the seller must honour the contract if the buyer chooses to exercise their option.

About SHE Marts:

• SHE (Self-help Entrepreneur) Marts are planned as community-owned retail outlets that will be set up within cluster-level federations through enhanced and innovative finance instruments.
• It aims to provide women entrepreneurs with better market access, branding opportunities, and sustainable income avenues, while strengthening grassroots institutions such as self-help groups (SHGs).
• The proposal builds on the success of the Lakhpati Didi programme and signals a policy shift from micro-credit-led livelihoods to structured, women-owned enterprises.
• SHE Marts are meant to:
  • Provide permanent retail points for SHG-made goods.
  • Improve direct market access.
  • Support value-added and processed products.
  • Be backed by enhanced and innovative financing instruments.

What is the Lakhpati Didi Programme?

• Run by the Ministry of Rural Development, the Lakhpati Didi programme seeks to support rural women by helping members of SHGs start small businesses and earn a steady income of at least Rs 1 lakh a year.
• Under this scheme, women will be trained in various skills, such as plumbing, LED bulb making, drone operation and repair, and tailoring and weaving.
• After completing the training, women will be provided with opportunities to earn income using their skills.
• The programme aims to help them become financially independent. 

About Mahatma Gandhi Gram Swaraj Initiative (MGGSI):

• It was announced in the Union Budget 2026-27 to strengthen India’s traditional craft sectors.
• It is a major initiative to strengthen the khadi, handloom, and handicrafts sector by improving global market access, branding, and market linkages.
• It is aimed at making traditional rural industries more competitive while ensuring sustainable livelihoods for artisans and weavers.
• The programme mainly targets weavers, village industries, beneficiaries of the One District One Product (ODOP) initiative, and rural youth, and MGGSI aims to address structural challenges.
  • These include fragmented supply chains, inconsistent quality standards, and limited market connectivity.
• MGGSI encourages artisans to adopt modern production methods. This would be done while preserving traditional craftsmanship.
• The initiative also focuses on improving market access by better branding and marketing to enable artisans to reach organised retail, export markets, and online platforms.
• It aligns with the “Vocal for Local” philosophy and efforts to strengthen micro, small, and medium enterprises (MSMEs).
• By reinforcing traditional industries, the initiative seeks to generate sustainable employment, reduce rural distress, and promote locally produced goods, thereby aligning with the broader vision of Atmanirbhar Bharat.

About Guru Ravidas:

• Guru Ravidas (1377-1527 C.E.) was a renowned saint known for his contributions to the Bhakti movement.
• His devotional songs and verses made a lasting impact upon the Bhakti Movement.
• Guru Ravidas is also known as Raidas, Rohidas, and Ruhidas.
• Ravidas was born in a village called Sir Gobardhanpur, near Varanasi in Uttar Pradesh,
  • Today, his birthplace is a special place known as Shri Guru Ravidass Janam Asthan.
  • His birthday is celebrated as Ravidas Jayanti.
• Ravidas is traditionally seen as a student of the bhakti-poet Ramananda.
• He is also thought to have lived around the same time as Kabir, another famous poet-saint.
• He was a well-known poet. His poems, written in local languages, inspired many people.
  • Many of his devotional songs and poems are found in the Sikh holy book, the Guru Granth Sahib.
  • Many of his poems are also in the Panch Vani text of the Dadu Panthi tradition within Hinduism.
• Philosophy and Teachings:
  • The core of Guru Ravidas’s philosophy was the rejection of the caste system and the promotion of human rights and dignity.
  • He envisioned a society called 'Beghumpura' (a city without sorrow), where there is no suffering, no fear, and no discrimination.
  • He also became a symbol of opposition to untouchability in society by the higher caste people for the lower caste people.
  • He emphasised the philosophy of spiritual freedom.
  • He abandoned the saguna (with attributes, image) forms of supreme beings and focussed on the nirguna (without attributes, abstract) form of supreme beings.
  • Meera Bai, a revered figure in Hindu spiritualism, is said to have considered Guru Ravidas as her spiritual Guru.
• Ravidassia religion:
  • The Guru’s teachings now form the basis of the Ravidassia religion.
  • Ravidassias believe that Guru Ravidas should be treated as a saint just like the other gurus, as he lived before the first Sikh Guru, and his teachings were studied by the Sikh Gurus.
  • The Ravidassia community adopted the Amrit Bani Guru Ravidass as its holy book and established its own symbols and rituals.

About Carbon Capture Utilisation and Storage:

• It is a suite of technologies that enable the mitigation of carbon dioxide (CO2) emissions from large point sources such as power plants, refineries and other industrial facilities, or the removal of existing CO2 from the atmosphere.
• Working of Carbon Capture Utilisation and Storage:
  • It consists of three stages: capture, transport and storage (or usage) of CO2.
  • Capturing methods: The main methods for capturing CO2 are: post-combustion; pre-combustion; and oxy-fuel combustion.
  • Post-combustion technology: It separates CO2 from the flue gas, by using a chemical solvent for instance, after the fuel is burnt.
  • Pre-combustion methods: It involves converting the fuel into a gas mixture consisting of hydrogen and CO2 before it is burnt. 
  • Oxy-fuel Combustion: Oxy-fuel technology involves burning a fuel with almost pure oxygen to produce CO2 and steam, with the released CO2 subsequently captured.
• CCUS can play a strategic role in global decarbonisation efforts in a number of ways.
  • Reducing emissions in ‘hard-to-abate’ industries
  • Producing low-carbon electricity and hydrogen, this can be used to decarbonise various activities
  • Removing existing CO2 from the atmosphere.

About Bharat-VISTAAR:

• ‘Bharat-VISTAAR’(Virtually Integrated System to Access Agricultural Resources) is a multilingual AI tool.
• It shall integrate the AgriStack portals and the ICAR package on agricultural practices with AI systems.
• Significance: It will enhance farm productivity, will lead to better farmer decision making and reduce risk through customized advisory support for the farmer

What is AgriStack?

• Agri Stack is the digital foundation being set up by the government to make it easier to bring various stakeholders together to improve agriculture in India.
• It enables better outcomes and results for the farmers by using data and digital services.
• Agri Stack aims to make it easier for farmers to get easier access to cheaper credit, higher-quality farm inputs, localized and specific advice, and more informed and convenient access to markets. 
• It also focuses to make it easier for governments to plan and implement various farmer and agriculture-focused benefit schemes.

About Sovereign Gold Bonds:

• These bonds are government securities denominated in grams of gold.
• They are substitutes for holding physical gold. Investors have to pay the issue price, and the bonds will be redeemed upon maturity.
• Issuance: The bond is issued by Reserve Bank on behalf of the GOI.
• Eligible to invest in the SGBs:
  • The bonds will be restricted for sale to resident Indian entities, including individuals, Hindu Undivided Family (HUF), Trusts, Universities and Charitable Institutions.
  • Investment Limits:
    • The bonds are issued in denominations of one gram of gold and in multiples thereof.
    • The minimum investment in the bond shall be one gram, with a specific maximum subscription limit.
  • Term: The term of the bond will be for a period of 8 years, with an exit option in the 5th, 6th, and 7th years, to be exercised on the interest payment dates.
  • Bonds are sold through offices or branches of Nationalised Banks, Scheduled Private Banks, Scheduled Foreign Banks, designated Post Offices, Stock Holding Corporation of India Ltd. (SHCIL), and the authorised stock exchanges either directly or through their agents.

About Divyangjan Kaushal Yojana:

• It is launched for persons with disabilities.
• It is aimed at training them for “dignified livelihood opportunities”.
• Under this scheme “industry-relevant, customised training, specific to each divyang group” will be provided for creating “dignified livelihood opportunities”
• Sectors Covered: Information Technology, Animation, Visual Effects, Gaming, and Comics (AVGC), Hospitality, and Food and Beverages, which offer “task-oriented and process-driven roles”.

About Divyang Sahara Yojana:

• It supports Artificial Limbs Manufacturing Corporation of India (ALIMCO) to scale up production of:
  • High-quality assistive devices, deepen research and development and integrate advanced technologies, including artificial intelligence, into product design and services.
  • The assistive products will encompass mobility aids, low-vision and low-hearing devices, e-Braille readers, smart hearing instruments and cognitive-assistive solutions, among others, tailored to diverse functional needs.
• It also strengthen PM Divyasha Kendras and support setting up of Assistive Technology Marts as modern retail-style centres where Divyangjans and senior citizens can see, try and purchase assistive products.

What is PM Divyasha Kendra?

• It is a unique initiative aimed at providing integrated services under one roof—including assessment, evaluation, counselling, distribution, and post-distribution care—for eligible Divyangjan (persons with disabilities) and elderly beneficiaries.
• These centres are being established through ALIMCO (Artificial Limbs Manufacturing Corporation of India).
  • ALIMCO is a Central Public Sector Undertaking under the Department of Empowerment of Persons with Disabilities (DEPwD).