Prelims Current Affairs includes Qader Cruise Missile, Organisation For Economic Co-Operation And Development (OECD), Gruha Sugam Portal, Finance Bill 2026 & Amrit Bharat Station Scheme

DEFENCE

1. QADER CRUISE MISSILE

Current Context: Iran recently fired Qader cruise missiles targeting the USS Abraham Lincoln aircraft carrier.

ABOUT QADER CRUISE MISSILE

• Developed by: Iran
• Type: Medium-range, shore-based anti-ship cruise missile
• Origin: Upgraded version of Noor missile based on Chinese design
• Range: 120–300 km
• Warhead: ~200 kg high explosive
• Key Features:
  • Designed to target warships and tankers
  • Operates using turbojet engine
  • Capable of long-range precision strikes
• Working Mechanism:
  • Uses sea-skimming technique (flies a few metres above sea surface)
  • Low-altitude flight reduces radar detection
  • Decreases reaction time for enemy defence systems

ABOUT CRUISE MISSILES

• Definition: Guided missiles that fly at low altitude following terrain contours
• Features:
  • Powered by jet engines
  • Highly manoeuvrable
  • Can avoid radar detection
• Guidance Systems: GPS, Inertial Navigation, Terrain Contour Matching
• Speed: Subsonic to supersonic (Mach 0.8–3)
• Range: 50–2,500 km
• Launch Platforms: Land, air, and sea
• Examples: BrahMos, Nirbhay, Tomahawk

ORGANISATIONS

2. ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT (OECD)

Current Context: Recently, Organisation For Economic Co-operation And Development (OECD) projected India’s economic growth at 6.1% for 2026–27.

ABOUT OECD

• Established: 1960
• Headquarters: Paris, France
• Members: 38 countries
  • Mostly developed democracies with market economies
• Objective: To promote economic growth, prosperity, and well-being
• Functions:
  • Publishes economic reports and global forecasts
  • Provides statistical databases and policy analysis
  • Works to combat bribery and financial crimes
• India’s Status: Not a member but OECD Key Partner since 2007

E-GOVERNANCE

3. GRUHA SUGAM PORTAL

Current Context: National Housing Bank launched Gruha Sugam Portal to simplify access to housing loans.

ABOUT GRUHA SUGAM PORTAL

• Launched by: National Housing Bank (NHB)
• Purpose: To facilitate easy access to home loans for defence and government personnel
• Key Features:
  • Fully digital loan application process
  • No need to visit banks physically
  • Unified marketplace for comparing loan options
  • Real-time integration with lending institutions
  • Online grievance redressal and chat support
• Beneficiaries: Defence personnel, Paramilitary forces, Central and State government employees.

ABOUT NATIONAL HOUSING BANK (NHB)

• Type: Apex housing finance institution
• Ownership: Wholly owned by Government of India
• Established: 1988
• Functions:
  • Promotes and develops housing finance sector
  • Supervises Housing Finance Companies (HFCs)
  • Provides financial support and policy guidance
• Headquarters: New Delhi

ECONOMY

4. FINANCE BILL 2026

Current Context: Lok Sabha passed the Finance Bill 2026, completing the Union Budget process for FY 2026–27.

ABOUT FINANCE BILL

• Type: Money Bill (Article 110)
• Purpose: Gives effect to taxation proposals of Union Budget
• Includes:
  • Direct and indirect tax provisions
  • Amendments to tax laws
  • Financial policy changes

KEY HIGHLIGHTS (2026):

• Tax Reforms:
  • TCS reduced to 2% on education, medical, and tour remittances
  • STT increased (Futures: 0.05%, Options: 0.15%)
• Sector Support: Electronics, marine, leather, nuclear sectors
• Customs Relief: Duty exemption on 17 cancer drugs
• Fiscal Data:
  • Expenditure: ₹53.47 lakh crore
  • Fiscal deficit: 4.3% of GDP

SCHEME

5.  AMRIT BHARAT STATION SCHEME

Current Context: Government is redeveloping 1,338 railway stations under the Amrit Bharat Station Scheme.

ABOUT AMRIT BHARAT STATION SCHEME

• Launched by: Ministry of Railways
• Objective: Modernisation of railway stations and Improve passenger experience and connectivity.
• Coverage: 1,338 stations across India. Includes 13 stations in Delhi
• Key Features:
  • Station redevelopment with modern infrastructure
  • Integration with city transport systems
  • Improved waiting halls, toilets, lifts, escalators
  • Wider foot overbridges and better access
• Additional Facilities:
  • One Station One Product kiosks
  • Executive lounges
  • Digital passenger information systems
• Sustainability Measures:
  • Eco-friendly infrastructure
  • Ballastless tracks.

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