29 July 2026

UPSC GS 2

BHAVYA Rasayan Scheme

●      News: The Union Cabinet has approved the Bharat Audyogik Vikas Yojana Rasayan (BHAVYA Rasayan) Scheme to establish three dedicated chemical parks across the country.

●      About BHAVYA Rasayan Scheme:

○      BHAVYA Rasayan (Bharat Audyogik Vikas Yojana Rasayan) is a Central Sector Scheme aimed at establishing three world-class chemical parks in India.

○      The scheme seeks to promote the development of the entire chemical industry value chain, including upstream, downstream, and ancillary industries.

●      Objectives:

○      Develop integrated chemical manufacturing ecosystems.

○      Strengthen India's chemical industry and global competitiveness.

○      Promote domestic manufacturing and value addition.

○      Improve industrial infrastructure for the chemical sector.

○      Attract private investment and generate employment.

●      Financial Outlay:

○      Total Financial Outlay: ₹3,030 crore.

○      ₹3,000 crore for the development of common infrastructure and basic utilities.

○      ₹30 crore for administrative expenses.

●      Time Period:

○      The scheme will be implemented over five years, from FY 2026–27 to FY 2030–31.

●      Key Features:

●      Financial Assistance:

○      The Central Government will provide financial assistance of up to ₹1,000 crore for each chemical park.

○      The concerned State Government must contribute a minimum of ₹500 crore.

●      Selection Process:

○      Chemical parks will be selected through a challenge-based selection process.

○      The parks will be developed by State Governments.

●      Land Requirement:

○      Each chemical park must have at least 2,000 acres (about 8 sq. km.) of contiguous and encumbrance-free land.

●      Plug-and-Play Infrastructure: The parks will provide integrated infrastructure, including:

○      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.

Start-up Village Entrepreneurship Programme (SVEP)

●      News: The Start-up Village Entrepreneurship Programme (SVEP) has supported 4.32 lakh rural enterprises across the country by June 2026, promoting non-farm entrepreneurship through training, financing, and institutional support.

●      About Start-up Village Entrepreneurship Programme (SVEP):

○      The Start-up Village Entrepreneurship Programme (SVEP) was launched in 2016.

○      It is a sub-scheme of the Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM).

○      The programme aims to promote rural entrepreneurship by supporting the establishment of non-farm enterprises in villages.

●      Objective:

○      Stimulate economic growth in rural areas.

○      Reduce poverty and unemployment by promoting village enterprises.

○      Encourage sustainable livelihood opportunities through entrepreneurship.

●      Key Features:

○      Supports Self-Help Groups (SHGs) and their family members in establishing non-farm enterprises.

○      Provides:

■      Financial assistance.

■      Institutional support.

■      Business management training.

■      Soft skill development.

■      Business development services.

○      Facilitates bank credit linkages and convergence with various government schemes.

○      Follows a community-based decision-making model for funding and supporting local enterprises.

○      Adopts an inclusive approach, with a special focus on:

■      Women.

■      Marginalized communities.

■      Individuals with limited educational attainment.

●      Implementation Mechanism:

○      Implemented through the State Rural Livelihoods Missions (SRLMs).

●      Block Level:

○      Block Resource Centres–Enterprise Promotion (BRC-EPs) coordinate programme implementation.

●      Community Support:

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

East Asia Summit (EAS)

●      News: While participating in the 21st East Asia Summit (EAS) in Manila, the External Affairs Minister of India emphasized that global maritime channels must remain safe, secure, and unimpeded, highlighting the importance of a free, open, and rules-based Indo-Pacific.

●      About East Asia Summit (EAS):

○      The East Asia Summit (EAS) is the Indo-Pacific's premier forum for strategic dialogue.

○      It is the only leader-led forum where all major Indo-Pacific partners meet to discuss political, security, and economic issues affecting the region.

●      Established: 2005.

●      First Summit: Kuala Lumpur, Malaysia.

●      Membership:

●      The EAS has 19 members, comprising:

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

○      8 Dialogue Partners: Australia, China, India, Japan, New Zealand, the Republic of Korea, Russia, and the United States.

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

●      India is a founding member of the East Asia Summit.

●      Chairmanship:

○      The Association of Southeast Asian Nations (ASEAN) leads the forum.

○      The Chair rotates annually among the ASEAN member states.

●      Priority Areas of Cooperation

○      Environment and Energy.

○      Education.

○      Finance.

○      Global Health Issues and Pandemic Diseases.

○      Natural Disaster Management.

○      ASEAN Connectivity.

●      Meetings under the EAS:

○      Leaders' Summit is held annually, usually in October or November.

○      It is complemented by:

■      EAS Foreign Ministers' Meeting.

■      EAS Economic Ministers' Meeting.

○      Senior Officials' Meetings are held throughout the year to prepare for ministerial and leaders' meetings and to discuss regional political, security, economic, and strategic issues.

●      Significance:

○      Serves as the premier platform for strategic dialogue in the Indo-Pacific.

○      Promotes peace, stability, and regional cooperation.

○      Facilitates cooperation on traditional and non-traditional security challenges.

○      Reinforces ASEAN Centrality in the regional architecture.

○      Provides an important platform for India's Act East Policy and Indo-Pacific Vision. 

UPSC GS 3

Portfolio Management Service (PMS)

●      News: The Securities and Exchange Board of India (SEBI) has proposed a comprehensive review of the SEBI (Portfolio Managers) Regulations, 2020 to modernise the regulatory framework governing Portfolio Management Services (PMS).

●      About Portfolio Management Service (PMS):

○      Portfolio Management Service (PMS) is a professional investment service in which a qualified portfolio manager manages an investor's portfolio comprising equity, debt, and other securities.

○      It primarily caters to High Net Worth Individuals (HNIs) seeking customised investment solutions.

○      PMS is regulated under the SEBI (Portfolio Managers) Regulations, 2020.

●      Who Can Offer PMS?

○      Only corporate entities, companies, or Limited Liability Partnerships (LLPs) registered with SEBI can legally provide Portfolio Management Services in India.

○      A PMS provider cannot accept investments of less than ₹50 lakh per client, as mandated by SEBI.

●      Types of Portfolio Management Service

●      Discretionary PMS:

○      The portfolio manager has full authority to make investment decisions on behalf of the investor.

○      Investment decisions are taken without seeking prior approval for each transaction.

●      Non-Discretionary PMS:

○      The portfolio manager recommends investment decisions, but the final decision to buy or sell rests with the investor.

●      Advisory PMS:

○      The portfolio manager provides investment advice, while the investor independently executes all transactions.

●      Key Regulations Governing PMS

●      Registration:

○      All Portfolio Management Service providers must be registered with SEBI.

●      Minimum Investment Requirement

○      A minimum investment of ₹50 lakh is mandatory, restricting PMS primarily to High Net Worth Individuals (HNIs).

●      Disclosure Obligations:

○      PMS providers must regularly disclose:

■      Portfolio performance.

■      Fee structure.

■      Risk factors.

■      Other relevant information to investors.

●      Custodian Requirement:

○      Investor assets must be held by an independent custodian to avoid conflicts of interest and ensure asset safety.

●      Compliance Monitoring:

○      Every PMS provider must appoint a Compliance Officer to ensure adherence to SEBI regulations. 

State of Food Security and Nutrition in the World (SOFI) 2026 Report

●      News: The State of Food Security and Nutrition in the World (SOFI) 2026 Report was recently released, highlighting the global status of hunger, food insecurity, and malnutrition and assessing progress towards Sustainable Development Goal (SDG) 2: Zero Hunger.

●      About the SOFI 2026 Report:

○      The State of Food Security and Nutrition in the World (SOFI) is the United Nations system's flagship report on global hunger, food insecurity, and malnutrition.

○      It provides the latest global and regional estimates on food security and nutrition while tracking progress towards SDG 2 (Zero Hunger).

●      Published By:

○      Food and Agriculture Organization (FAO).

○      International Fund for Agricultural Development (IFAD).

○      United Nations Children's Fund (UNICEF).

○      World Food Programme (WFP).

○      World Health Organization (WHO).

●      Objectives:

○      Assess global trends in hunger, food insecurity, and malnutrition.

○      Track progress towards SDG 2 (Zero Hunger).

○      Monitor diet quality, food affordability, and global nutrition targets.

○      Provide evidence to support food and nutrition policy formulation.

●      Key Highlights of SOFI 2026:

●      Global Trends:

○      Global food security and nutrition improved modestly in 2025, but progress remains uneven and insufficient to achieve the 2030 SDG targets.

○      7.8% of the global population was affected by hunger.

○      Around 2.1 billion people experienced moderate or severe food insecurity.

●      Persistent Challenges: Significant disparities continue to affect:

○      Women.

○      Young children.

○      Rural communities.

●      Diet quality remains inadequate across many regions of the world.

●      India-Specific Findings:

○      The proportion of undernourished people in India declined from 21.1% (2004–06) to 9.8% (2023–25), indicating substantial progress over the past two decades.

○      The cost of a healthy diet in India has increased by nearly 48% since 2017, compared with about 32% in the United States during the same period.