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Parliamentary Updates: Sahara Refunds, PACs, AI CoEs, IBC

12 February 20251 min read
NATIONAL AFFAIRSParliamentaryUpdates: SaharaRefunds, PACs, AICoEs, IBC12 February 2025safalsetu.com

Why in the news

Parliament heard updates on Sahara refunds, cooperative fuel retailing, AI research hubs, insolvency outcomes and the Budget outlook.

Key facts

TopicUpdate
Sahara refundsPaid via the CRCS Sahara Refund Portal
PACs and fuelOil marketing companies picked 26 PACs from 286 applications; PACs may run fuel retail and LPG distributorships
AI Centres of ExcellenceAIIMS Delhi, IIT Delhi, IIT Kanpur, IIT Ropar
IBC (to 31 Dec 2024)₹3.58 trillion recovered; 1,119 cases resolved; 2,707 liquidations

Finance Minister on Budget 2025-26

  • Global backdrop: West Asia conflicts, Russia-Ukraine war, slow growth.
  • Priorities: faster growth, private investment, consumption, jobs, exports, manufacturing.
  • Capex: ₹15.48 trillion for FY26, 4.3% of GDP.
  • Fiscal deficit target: 4.4% of GDP.

Exam angle

  • Cooperative societies allowed fuel retailing: PACs.
  • Related terms: IBC, liquidation, capex.

Test yourself

1. How many Primary Agricultural Credit Societies were selected for petrol and diesel outlets out of 286 applications?

Twenty six PACs were selected by oil marketing companies.

2. Through which portal were Sahara Group depositors refunded ₹2,025.75 crore?

Refunds were made via the CRCS Sahara Refund Portal.

3. What fiscal deficit target for FY26 was pegged by the Finance Minister in Budget 2025-26 discussions?

The fiscal deficit target is 4.4% of GDP.

This topic is part of Daily Current Affairs 12 February 2025 (13 topics).

All topics of the dayDay quizFebruary 2025

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