Prelims Current Affairs includes GST Reform 2025, Katchatheevu Island, India’s first overseas Atal Innovation Centre (AIC), Papua New Guinea, India won its first-ever gold medal in the men’s compound team event at the World Archery Championships in Gwangju, South Korea and Russia’s Federal Medical Biological Agency (FMBA).

ECONOMY

1. GST REFORM 2025

Current Context: Government will implement the next-generation GST reform from 22 September 2025 with a simplified two-rate structure and digital filing.

About GST Reform 2025

• New Structure: Two main GST slabs – 5% and 18%.

• New High Rate: 40% GST on luxury and sin goods (pan masala, cigarettes, etc.).

• Ease of Filing: Faster refunds, digital filing, and reduced disputes.

Benefits of Reforms

• Social Protection: Exemption on GST for insurance and essential medicines.

• Lower Prices, Higher Demand: Reduced rates increase consumption and savings.

• Support for MSMEs: Lower input costs for cement, auto parts, handicrafts.

• Ease of Living: Simpler structure → fewer disputes and easier compliance.

• Wider Tax Net: Simpler rates promote compliance and boost revenue.

Key Challenges

• Revenue Loss: ~₹48,000 crore on FY23–24 base.

• Removal of Input Tax Credit (ITC): On healthcare and insurance products may cause cascading effect.

• Uncertainty over National Anti-Profiteering Authority: Its revival not clarified.

PLACE IN NEWS

2. KATCHATHEEVU ISLAND

Current Context: The President of Sri Lanka recently visited Katchatheevu Island, sparking renewed political debates in India for its return.

About Katchatheevu Island

• Location: Tiny, uninhabited island in Palk Strait.

  • Northeast of Tamil Nadu’s Rameswaram.

  • Southwest of Sri Lanka’s Jaffna.

• Features:

  • Barren, no drinking water or sanitation.

  • Only structure: St. Anthony’s Catholic Shrine.

Political Dispute

• Dispute: Between India and Sri Lanka.

• 1974 Agreement:

  • International Maritime Boundary Line placed Katchatheevu with Sri Lanka.

  • India gained Wadge Bank (near Kanniyakumari) in return.

3. PAPUA NEW GUINEA

Current Context: During Papua New Guinea’s 50th Independence Day celebrations, the Indian Navy Band performed at the grand Military Tattoo in Port Moresby.

About Papua New Guinea

• Location: Island nation in Oceania, southwestern Pacific Ocean.

• Neighbours: Indonesia (west), Australia (south), Solomon Islands (south-east).

• Capital: Port Moresby.

Geographical Features

• Terrain: Mountainous, tropical rainforests, prone to earthquakes and tsunamis.

• Highest Point: Mount Wilhelm (4,509 m).

• Rivers: Sepik River, Fly River.

• Volcanoes: Rabaul Caldera (most active).

• Biodiversity: Birds of paradise, tree kangaroos, Queen Alexandra’s birdwing butterfly.

Government Structure

• Type: Constitutional monarchy, member of Commonwealth.

• Head of State: British Monarch (represented by Governor-General).

• Head of Government: Prime Minister.

SPORTS

4. INDIA’S HISTORIC GOLD IN MEN’S COMPOUND ARCHERY

Current Context: India won its first-ever gold medal in the men’s compound team event at the World Archery Championships in Gwangju, South Korea, defeating France 235–233.

The Historic Final

• Teams: India (Rishabh Yadav, Aman Saini, Prathamesh Fuge) vs France.

• Score: India trailed early (57–59) but recovered with six 10s in second round.

• Decisive Moment: Fuge’s six consecutive 10s sealed victory.

Star Performers

• Rishabh Yadav: Top qualifier, also won silver in mixed team event.

• Prathamesh Fuge: Lowest-ranked, shot flawless final six 10s.

• Mentorship: Yadav guided by veteran Abhishek Verma.

HEALTH & DISEASE

5. RUSSIA UNVEILS COLON CANCER VACCINE

Current Context: Russia’s Federal Medical Biological Agency (FMBA) announced a colon cancer vaccine ready for use after successful preclinical trials, revealed at the 10th Eastern Economic Forum, Vladivostok.

About the Vaccine

• Type: Therapeutic vaccine (not preventive).

• Trial Results:

  • Tumour size reduced by 60%–80%.

  • Slowed progression, improved survival rates.

  • No adverse effects, even with repeated doses.

How It Works

• Stimulates immune system to recognize and attack tumour cells.

• Enhances recognition of tumour antigens.

• Slows disease progression and extends survival.

Other Vaccines in Pipeline

• Glioblastoma (aggressive brain cancer).

• Melanoma (including rare ocular melanoma).

• Early results show high safety and effectiveness.

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