Current Affairs 02 July 2026

François Tomb Opens to the Public After 160 Years

The François Tomb, one of the finest surviving monuments of the ancient Etruscan civilisation, has been put on permanent display at the National Etruscan Museum of Villa Giulia in Rome, Italy. Discovered in 1857, the tomb’s famous frescoes and artefacts are being displayed together for the first time in over 160 years. The frescoes, dating to 340–320 BC, depict scenes from Greek mythology and Etruscan history.

State Governments Face Fiscal Pressure Amid Rising Debt

A recent analysis highlighted the growing fiscal stress faced by many Indian State governments due to rising expenditure and limited revenue sources. While the Union Government collects the majority of taxes, State governments are responsible for a significant share of public spending, particularly on health, education, agriculture, irrigation, and other welfare sectors. To bridge the gap between expenditure and receipts, States increasingly rely on market borrowings through State Development Loans (SDLs), leading to a higher debt burden and rising interest payments.

Highlights

• State governments incur deficits when expenditures exceed tax and non-tax revenues.
• States finance their expenditure through:
  • Own tax revenues (such as State GST (SGST) and sales tax)
  • Fiscal transfers, grants, and loans from the Union Government
  • Market borrowings through State Development Loans (SDLs)
• A significant portion of State expenditure is allocated to health, education, agriculture, irrigation, and social welfare.
• States generally pay 6.5%–7.5% interest on SDLs, which is higher than the borrowing cost of the Union Government.
• Rising debt and interest payments reduce the fiscal space available for capital investment and infrastructure development.

MECON Limited Granted Miniratna Category-I Status

The Ministry of Steel has granted Miniratna Category-I status to MECON Limited, a Schedule ‘A’ Central Public Sector Enterprise (CPSE) under its administrative control. The recognition was granted after MECON fulfilled the Department of Public Enterprises (DPE) criteria, including maintaining profits for the last three financial years and achieving a net worth of ₹535.42 crore as of 31 March 2026. The new status provides the company with greater financial and operational autonomy for expansion and modernization. The MECON Limited was established in 1959 at Ranchi, Jharkhand.

Note: You can also read about PSU Classification Criteria on how a company’s status changes from Miniranta, Navaratna, and Maharatna.

India Achieves First Satellite-Based Landing Using GAGAN

India achieved a major milestone in aviation navigation when the Directorate General of Civil Aviation (DGCA) successfully conducted the country’s first satellite-based landing approach on a commercial aircraft using GAGAN in June 2026. GAGAN (GPS Aided GEO Augmented Navigation) is India’s indigenous Satellite-Based Augmentation System (SBAS), jointly developed by ISRO and the Airports Authority of India (AAI). Operational since 2015, GAGAN enhances GPS accuracy and provides integrity information for safer aircraft navigation. It is also the first SBAS certified for the equatorial region.

Highlights

• India successfully conducted its first satellite-based landing on a commercial aircraft using GAGAN in June 2026.
• GAGAN stands for GPS Aided GEO Augmented Navigation.
• It is India’s indigenous Satellite-Based Augmentation System (SBAS).
• Developed jointly by ISRO and the Airports Authority of India (AAI).
• Fully operational since 2015.
• GAGAN enhances GPS accuracy and provides integrity information for safer aircraft navigation.
• It is the first SBAS certified for the equatorial region.
• India’s NavIC is an independent regional navigation system, while GAGAN enhances GPS signals for precision navigation.

eSARAS

Recently, the eSARAS platform has been expanded into a full digital commerce ecosystem with ONDC, UMANG, a mobile app, a fulfilment centre, and a wider national reach.

Highlights

• eSARAS (SARAS Aajeevika) is the official online marketplace under DAY-NRLM.
• Developed by the Ministry of Rural Development.
• Promotes products made by Women Self-Help Groups (SHGs) and their federations.
• Recently integrated with ONDC and UMANG to expand nationwide digital market access.
• Provides marketing, branding, logistics, and e-commerce support to rural entrepreneurs.
• Offers products including handicrafts, handlooms, apparel, food products, personal care items, and home décor.
• Supports women’s entrepreneurship, rural livelihoods, and the vision of Digital India and Aatmanirbhar Bharat.

SHE-LEAPS

To strengthen the Lakhpati Didi Mission, the Government has launched SHE-LEAPS (Self-Help Entrepreneur-Livelihoods and Enterprise Application for Prosperity and Sustainability). Launched on 29 June 2026 during the Rashtriya Gramin Vikas Sammelan, the digital platform enables real-time tracking of women-led enterprises, supports livelihood creation, improves financial inclusion, and promotes data-driven rural entrepreneurship across the country.

• Developed by the Digital India Corporation under the LokOS platform.
• Supports women’s Self-Help Group (SHG) entrepreneurs.
• Tracks enterprise creation, income growth, and business performance.
• Will be implemented across 34 States and Union Territories.
• Strengthens the Lakhpati Didi Mission, whose target has been increased from 3 crore to 6 crore women.

General Dhiraj Seth Appointed as the 31st Chief of the Army Staff

General Dhiraj Seth assumed charge as the 31st Chief of the Army Staff (COAS), succeeding General Upendra Dwivedi, who retired after over four decades of service.

Q1. Who recently assumed charge as the 31st Chief of the Army Staff (COAS) of India?
A. General Manoj Pande
B. General Upendra Dwivedi
C. General Dhiraj Seth
D. General Anil Chauhan

Q2. Which of the following is the primary instrument through which State Governments borrow money from the market?
A. Treasury Bills (T-Bills)
B. Government Securities (G-Secs)
C. State Development Loans (SDLs)
D. Sovereign Gold Bonds (SGBs)

Q3. The François Tomb, which was recently opened to the public after more than 160 years, is located in which country?
A. Greece
B. Italy
C. France
D. Spain

Q4. MECON Limited, which was recently granted Miniratna Category-I status, is headquartered in which city?
A. Bhilai
B. Ranchi
C. Bokaro
D. Rourkela

Q5. India’s first satellite-based landing of a commercial jet aircraft using the indigenous GAGAN system was successfully demonstrated at which airport?
A. Jaipur International Airport
B. Udaipur Airport
C. Ahmedabad Airport
D. Jodhpur Airport

Q6. eSARAS, recently in the news, is primarily associated with which of the following?
A. Online marketplace for agricultural exports
B. Digital marketplace for products made by Women Self-Help Groups (SHGs)
C. E-commerce platform for MSMEs
D. Digital payment platform for rural banks

Q7. SHE-LEAPS, launched recently, has been developed primarily to support which of the following?
A. Urban women entrepreneurs under Startup India
B. Women Self-Help Group (SHG) entrepreneurs under the Lakhpati Didi Mission
C. Women scientists under Digital India Mission
D. MSME exporters under Make in India