La Excellence IAS Academy

ASEAN cautiously hopes for progress on Myanmar, South China Sea conflicts.

Syllabus: GS-II

Subject: International Relations (I)

Topic: Regional and global groupings

Issue: ASEAN

Context: ASEAN Foreign Ministers retreat meeting in Luang Prabang, Laos.

Association of Southeast Asian Nations (ASEAN)

  • It is a regional intergovernmental organisation in Southeast Asia.
  • Established in 1967, with the signing of the Bangkok Declaration.
  • Member States

Goals :

  • Promote regional peace and stability
  • Create a single market and economic region
  • Accelerate economic growth, social progress, and cultural development.

Source: The Hindu

Finance Ministry says economy likely to grow closer to 7% in 2024-25.



Topic:Growth and Development, Inclusion

Issue: Economic growth report

Context: The Ministry of Finance released a report titled ‘The Indian economy — A review’ ahead of the Interim Union Budget.


  • The report pegged India’s real GDP growth at closer to 7% in 2024-25.
  • The Indian economy will hit $5 trillion in the next three years, making it the third largest in the world.
  • Structural reforms post 2014
    • Goods and Services Tax
    • The Insolvency and Bankruptcy Code,
    • Push for infrastructure building
    • Demonetisation(led to a surge in the use of non-cash forms of payment)

Mains specific Statements/data

  • Finance Ministry warned that “exporting one’s way to growth (China model) is no longer easy amid
    • onshoring and friend-shoring of production
    • increasing vulnerabilities of global supply chains due to events like pandemic and geopolitical tensions.
  • The report listed three trends for the coming years —
    • The end of the era of hyper-globalisation in global manufacturing
    • The advent of Artificial Intelligence and
    • The energy transition challenge.
  • 51 crore bank accounts under Jan Dhan Yojana opened of which 55 percent are women.


Source: The Hindu

10% raise in allocation for duty remission plan may help cover more sectors’.

Syllabus: GS-III

Subject: Economy(E)

Topic: Trade and External sector

Issue: RoDTEP Scheme

Context: The budgetary allocation for RoDTEP is likely to get a 10% increase in 2024-25.

Remission of Duty and Taxes on Exported Products (RoDTEP) Scheme

  • Objective: To boost exports by rebating/refunding the embedded Central, State and local duties/taxes to the exporters that were so far not being rebated/refunded.
  • The rebate is issued as a transferable electronic scrip by the Central Board of Indirect Taxes & Customs (CBIC) in an end to end IT environment.
  • WTO compliant scheme – It replaced the Merchandise Export Incentive Schemes (MIES) which was ruled to be non-compliant of rules by the WTO.
  • Administered by Department of Revenue, Ministry of Finance.


  • Increases export competitiveness by reducing costs.
  • Boosts export volumes by encouraging businesses to export more, leading to increased foreign exchange earnings and job creation.
  • Reimbursement through transferable e-scrips simplifies the process.


Source: The Hindu

Fingerprints to videos and pictures, NIA builds its own terror database.

Syllabus: GS-III

Subject: Internal Security 

The National Investigation Agency (NIA) in India has launched the National Terrorism Data Fusion & Analysis Centre (NTDFAC), akin to the US Global Terrorism Database


It compiles comprehensive details of terrorists, including fingerprints, videos, and social media profiles.

Equipped with advanced technology, the NTDFAC integrates various databases and aims to enhance counter-terrorism efforts through collaboration and continual improvement.


 National Investigation Agency (NIA):

·         Established in 2008 under the NIA Act

·         It investigates and prosecutes offenses related to:

·         Threats to India’s sovereignty, security, and integrity, including terrorism.

·         Crimes against atomic and nuclear facilities.

·         Smuggling of high-quality counterfeit Indian currency.

·         NIA implements international treaties and agreements related to terrorism.

·         It serves as India’s primary counter-terrorism law enforcement agency.

Source: Indian Express

Govt., brings non-urea fertilizers under price control, fixes profit margins

Syllabus: GS-III

Subject: Economy(E)

Context: The government has extended price control measures to non-urea fertilizers, unlike urea which has a fixed maximum retail price.


  • Non-urea fertilizers under the Nutrient-Based Subsidy (NBS) scheme were previously market-determined, but now the government has introduced “reasonable pricing”
  • The guidelines impose indirect MRP controls by capping company profits based on their total cost of sales.
  • This move extends detailed cost monitoring and price controls applicable to urea to other fertilizers, aiming to ensure fair pricing and prevent excessive profits.

The Nutrient Based Subsidy (NBS) Scheme:

·         Initiated in 2010, it provides fixed annual subsidies on Phosphatic and Potassic (P&K) fertilizers,             excluding Urea, based on their nutrient content.

·         Administered by the Department of Fertilizers.

·         The scheme ensures farmers have access to P&K fertilizers at controlled prices.

·         It guarantees farmers access to essential nutrients for their crops.

Source: Indian Express