29 July 2026 - "Daily Current Affairs" Updates

BHAVYA Rasayan Scheme

30-SECOND SNAPSHOT

 The Union Cabinet has approved a Central Sector Scheme to develop three world-class chemical parks. Each park will combine large contiguous land, common utilities and plug-and-play infrastructure to strengthen India’s complete chemical value chain.

Why in News?

• The Union Cabinet approved the Bharat Audyogik Vikas Yojana Rasayan (BHAVYA Rasayan) Scheme for establishing three dedicated chemical parks in India.

Understand the Scheme

Full Form

Bharat Audyogik Vikas Yojana Rasayan

Type

Central Sector Scheme

Core Purpose

Creation of three world-class chemical parks

Implementation Period

FY 2026–27 to FY 2030–31

Total Outlay

₹3,030 crore

What is the larger idea?

• Build integrated chemical manufacturing ecosystems rather than isolated factories.

• Support the entire industry chain: upstream, downstream and ancillary industries.

• Increase domestic manufacturing, value addition and global competitiveness.

• Create better industrial infrastructure, attract private investment and generate employment.

Funding Architecture

• Central assistance: Up to ₹1,000 crore for each chemical park.

• State contribution: Minimum ₹500 crore for each selected park.

• Out of the total ₹3,030 crore, ₹3,000 crore is earmarked for common infrastructure and basic utilities, while ₹30 crore is for administrative expenditure.

How will parks be selected and developed?

• Selection will follow a challenge-based process.

• The parks will be developed by State Governments.

• Each park must have at least 2,000 acres—approximately 8 sq. km.—of contiguous and encumbrance-free land.

Plug-and-Play Infrastructure

• Common Effluent Treatment Plants (CETPs)

• Treatment, Storage and Disposal Facilities (TSDFs)

• Water supply and distribution systems

• Solvent recovery and distillation facilities

• Steam generation and distribution networks

• Interconnected pipeline systems

• Logistics and warehousing infrastructure

MEMORY CODE  3–3–5–2: 3 parks | ₹3,030 crore | 5 years | 2,000 acres per park.

ACTIVE RECALL  Without looking back, name the scheme type, implementation period, minimum land requirement and Centre–State funding pattern.

RURAL DEVELOPMENT & LIVELIHOODS

2. Start-up Village Entrepreneurship Programme (SVEP)

30-SECOND SNAPSHOT  SVEP promotes village-level non-farm entrepreneurship by combining finance, training, community institutions and bank linkages. By June 2026, it had supported 4.32 lakh rural enterprises.

Why in News?

• By June 2026, SVEP had supported 4.32 lakh rural enterprises across India through training, financing and institutional support.

Basic Identity

Launched

2016

Parent Programme

Deendayal Antyodaya Yojana–National Rural Livelihoods Mission (DAY-NRLM)

Nature

Sub-scheme

Focus

Non-farm enterprises in rural areas

Implementing Channel

State Rural Livelihoods Missions (SRLMs)

What does SVEP seek to achieve?

• Stimulate local economic growth in rural areas.

• Reduce poverty and unemployment through village enterprises.

• Create sustainable livelihood opportunities through entrepreneurship.

Who receives support?

• Self-Help Groups (SHGs) and their family members who want to establish non-farm enterprises.

• The programme places special emphasis on women, marginalised communities and people with limited educational attainment.

What support is provided?

• Financial assistance

• Institutional support

• Business management training

• Soft-skill development

• Business development services

• Bank-credit linkages and convergence with other government schemes

Ground-Level Implementation

• Block Resource Centres–Enterprise Promotion (BRC-EPs) coordinate implementation at the block level.

• Community Resource Persons–Enterprise Promotion (CRP-EPs) provide technical assistance and mentor rural entrepreneurs.

• Funding and enterprise support follow a community-based decision-making model.

REMEMBER THE FLOW  DAY-NRLM → SRLM → BRC-EP → CRP-EP → Rural Entrepreneur.

ACTIVE RECALL  Which programme houses SVEP? Who coordinates it at block level, and who directly mentors entrepreneurs?

INTERNATIONAL RELATIONS

3. East Asia Summit (EAS)

30-SECOND SNAPSHOT  

The EAS is a leader-led, ASEAN-centred forum for strategic dialogue in the Indo-Pacific. It brings together 19 members to discuss political, security and economic issues.

Why in News?

• At the 21st East Asia Summit in Manila, India’s External Affairs Minister stressed that global maritime channels must remain safe, secure and unimpeded, reinforcing the idea of a free, open and rules-based Indo-Pacific.

Core Facts

Established

2005

First Summit

Kuala Lumpur, Malaysia

Nature

Leader-led strategic forum

Regional Focus

Indo-Pacific

India’s Status

Founding member

Leadership

ASEAN-led; chair rotates annually among ASEAN members

Membership: 19 Countries

• 11 ASEAN members: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Timor-Leste and Vietnam.

• 8 dialogue partners: Australia, China, India, Japan, New Zealand, Republic of Korea, Russia and the United States.

• Timor-Leste became the 19th member following its ASEAN accession on 26 October 2025.

Priority Areas of Cooperation

• Environment and energy

• Education

• Finance

• Global health issues and pandemic diseases

• Natural-disaster management

• ASEAN connectivity

Institutional Meetings

• The Leaders’ Summit is held annually, generally in October or November.

• It is supported by the EAS Foreign Ministers’ Meeting and EAS Economic Ministers’ Meeting.

• Senior Officials’ Meetings continue through the year to prepare ministerial and leaders’ meetings and discuss regional strategic issues.

Why does EAS matter for India?

• It is a major platform for India’s Act East Policy and Indo-Pacific Vision.

• It strengthens peace, stability and regional cooperation.

• It addresses both traditional and non-traditional security challenges.

• It reinforces ASEAN Centrality in the regional architecture.

PRELIMS TRAP ALERT  EAS is ASEAN-led, but it is not limited to ASEAN members. It includes eight major dialogue partners, including India.

ACTIVE RECALL  State the year of establishment, India’s status, total membership and the principle that anchors the forum’s regional architecture.

FINANCIAL MARKETS

4. Portfolio Management Service (PMS)

30-SECOND SNAPSHOT  

PMS is a SEBI-regulated professional investment service designed mainly for High Net Worth Individuals. A portfolio manager manages a customised mix of equity, debt and other securities, with a minimum investment of ₹50 lakh per client.

Why in News?

• SEBI has proposed a comprehensive review of the SEBI (Portfolio Managers) Regulations, 2020 to modernise the regulatory framework governing PMS.

What is PMS?

• A qualified portfolio manager professionally manages an investor’s customised portfolio of equity, debt and other securities.

• It mainly caters to High Net Worth Individuals seeking personalised investment solutions.

• It is regulated under the SEBI (Portfolio Managers) Regulations, 2020.

Who can legally offer PMS?

• Only SEBI-registered corporate entities, companies or Limited Liability Partnerships (LLPs).

• A PMS provider cannot accept less than ₹50 lakh from a client.

Three Types—Know the Decision-Maker

Discretionary PMS

The portfolio manager has full authority and does not need prior approval for every transaction.

Non-Discretionary PMS

The manager recommends, but the investor takes the final buy or sell decision.

Advisory PMS

The manager only advises; the investor independently executes every transaction.

Key Regulatory Safeguards

• Registration: Every PMS provider must be registered with SEBI.

• Minimum investment: ₹50 lakh per client.

• Disclosure: Providers must regularly disclose portfolio performance, fees, risk factors and other relevant information.

• Custodian: Investor assets must be held by an independent custodian to reduce conflicts of interest and ensure safety.

• Compliance: Every PMS provider must appoint a Compliance Officer.

ONE-LINE DIFFERENCE  Discretionary = manager decides | Non-discretionary = investor decides after recommendation | Advisory = investor decides and executes.