1. India Launches Cities Coalition for Circularity (C-3) to Boost Sustainable Urban Development

Context: India has launched the Cities Coalition for Circularity (C-3), a multi-nation alliance aimed at promoting city-to-city collaboration, knowledge-sharing, and private sector partnerships. The initiative was introduced during the 12th Regional 3R and Circular Economy Forum in Asia and the Pacific, held in Jaipur.

Key Highlights of the Event:

• The Prime Minister of India emphasized India’s commitment to the Pro-Planet People (P3) approach and stressed the significance of the 3R (Reduce, Reuse, Recycle) strategy for sustainable urban growth.
• A Memorandum of Understanding (MoU) for CITIIS 2.0 (City Investments to Innovate, Integrate, and Sustain) was signed, involving agreements worth ₹1,800 crore to support 18 cities across 14 states. These projects will act as models for other urban centers.

Background:

The Regional 3R and Circular Economy Forum in Asia and the Pacific was launched in 2009 to promote regional cooperation for sustainable waste management and circular economy initiatives in rapidly growing urban areas.

Key Developments Over the Years:

• The Hanoi 3R Declaration (2013-2023) outlined 33 voluntary goals for shifting towards a resource-efficient and circular economy.
• The forum has been actively negotiating for a Global Plastic Treaty to tackle plastic pollution worldwide.

Cities Coalition for Circularity (C-3): A Step Towards a Circular Economy:

What is C-3?

The Cities Coalition for Circularity (C-3) is an international alliance created to help urban areas adopt circular economy principles by integrating sustainable practices into urban planning, waste management, and resource utilization.

Key Objectives:

• Waste Reduction: Promoting waste segregation, composting, and upcycling.
• Resource Efficiency: Encouraging reuse, shared materials, and sustainable production.
• Sustainable Infrastructure: Integrating eco-friendly solutions into urban development.

Why C-3 Matters for Urban Sustainability?

1. Combating Climate Change: By minimizing waste and optimizing resource use, C-3 plays a crucial role in reducing greenhouse gas emissions and tackling environmental degradation.
2. Economic Growth and Job Creation: A circular economy fosters business opportunities in sectors such as recycling, remanufacturing, and waste management, creating employment in renewable energy, eco-friendly construction, and green manufacturing.

3. Building Resilient Cities: C-3 helps cities reduce their dependence on finite resources, making them more self-sufficient and resilient against economic downturns and supply chain disruptions.
4. Enhancing Quality of Life: Cleaner environments, better waste management, and greener public spaces contribute to improved public health and overall well-being for urban residents.

Circular Economy: Global and Indian Context:

Global Adoption:

Several cities, including Amsterdam, Copenhagen, and Tokyo, have successfully implemented circular economy frameworks under similar initiatives.

India’s Efforts Towards Circularity:

In India, circular economy principles are gaining momentum through initiatives such as:

• Swachh Bharat Mission – Promoting waste segregation and recycling.
• Smart Cities Mission – Encouraging sustainable and efficient urban development.
• Extended Producer Responsibility (EPR) – Holding manufacturers accountable for the entire lifecycle of their products.
• GOBAR-Dhan Scheme – Currently implemented in 67.8% of India’s districts, focusing on biogas and organic waste utilization.

Challenges in Implementing Circularity in Cities:

Despite its benefits, implementing a circular economy model faces several obstacles, including:

• Lack of Awareness & Technical Expertise – Many stakeholders are unfamiliar with circular practices.
• High Initial Investment Costs – Shifting to sustainable systems requires significant financial support.
• Resistance to Change – Businesses and consumers may be reluctant to adopt new models of production and consumption.
• Weak Policy Implementation – Existing regulations on waste management and sustainability are often poorly enforced.

Way Forward: Steps to Strengthen Circularity in Urban Areas:

To successfully integrate circular economy practices, cities must focus on:

• Developing and enforcing policies that make circular economy principles mandatory.
• Investing in research and innovation for sustainable materials and production methods.
• Raising awareness through community education programs on circular living.
• Strengthening public-private partnerships to scale up circular economy projects.

Conclusion: The launch of the Cities Coalition for Circularity (C-3) marks a significant step in India’s journey toward sustainable urban development. By embracing circular economy principles, Indian cities can reduce waste, optimize resources, and create a cleaner, greener future. The success of C-3 will depend on strong policies, active participation, and a commitment to sustainability from all stakeholders.

2. IRCTC & IRFC Attain Prestigious Navratna Status

Context: The Union Government has conferred Navratna status upon the Indian Railway Catering and Tourism Corporation (IRCTC) and the Indian Railway Finance Corporation (IRFC). With this recognition, they become the 25th and 26th Central Public Sector Enterprises (CPSEs) to achieve this esteemed classification.

What is Navratna Status?

The Navratna designation is a prestigious recognition granted to high-performing CPSEs, offering them greater investment autonomy and enhanced operational flexibility.

• This status is awarded by the Department of Public Enterprises (DPE), which functions under the Ministry of Finance.
• The primary goal is to empower CPSEs to function more efficiently while reducing government intervention.

Eligibility Criteria for Navratna Status:

To qualify for Navratna status, a CPSE must fulfill the following conditions:

• Miniratna-I Status – The company must already hold Miniratna-I classification and maintain a positive net worth.
• Consistent Performance – It must receive an “Excellent” or “Very Good” rating in its Memorandum of Understanding (MoU) evaluation for at least three out of the last five years.
• Financial Strength – A CPSE must score 60+ points based on key financial metrics, such as net profit, net worth, total cost of manpower, and performance ratio.
• Independent Governance – The firm must have at least four independent directors on its board.

How Does Navratna Status Benefit Companies?

1. Greater Financial Autonomy: Navratna CPSEs can make investment decisions up to 1,000 crore or 15% of their net worth without seeking prior government approval.
2. Increased Operational Flexibility: They gain the freedom to form strategic alliances, joint ventures, and subsidiaries—both within India and globally—enabling faster expansion and diversification.
3. Stronger Market Credibility: Achieving Navratna status enhances corporate reputation, making companies more attractive to investors, financial institutions, and business partners.
4. Strategic Decision-Making Power: Navratna firms enjoy greater authority over capital expenditure, mergers, acquisitions, and human resource management, allowing them to operate with efficiency and independence.

Conclusion: The elevation of IRCTC and IRFC to Navratna status is a significant milestone for India’s railway sector. This recognition empowers them with financial and operational independence, fostering greater efficiency, market expansion, and strategic growth. As these enterprises gain momentum, their contributions will play a crucial role in shaping India’s economic landscape and public sector dynamism.

3. Taxation of Virtual Digital Assets (VDAs) in India

Context: India’s Income Tax Bill, 2025 has introduced a comprehensive legal framework for Virtual Digital Assets (VDAs), bringing the nation’s tax policies in line with global best practices.

• Countries like the U.K., U.S., Singapore, and Australia classify VDAs as property or securities for taxation purposes.
• The new tax regime aims to enhance transparency, investor confidence, and regulatory oversight in India’s growing digital asset market.

Understanding Virtual Digital Assets (VDAs):

• VDAs were formally defined in the Finance Act, 2022, with the addition of Clause 47A to Section 2 of the Income Tax Act, 1961.
• The Supreme Court of India, in the landmark case Internet and Mobile Association of India v. RBI, referred to the Financial Action Task Force (FATF) Report, recognizing Virtual Currencies (VCs) as digital units used for:

• Medium of exchange
• Unit of account
• Store of value
• The Court concluded that VDAs could be categorized as property, commodities, or even a payment method, treating them as intangible assets.

Taxation of VDAs in India:

The Income Tax Bill, 2025 officially recognizes crypto assets, NFTs, and other VDAs as property and capital assets, aligning India’s tax treatment with nations like the U.K., Australia, and New Zealand.

Key Features of VDA Taxation

• Flat 30% Tax Rate – Profits from VDA transactions will be taxed at 30%, with no deductions allowed for transaction costs.
• 1% TDS (Tax Deducted at Source) – Applicable on all VDA transfers, including peer-to-peer (P2P) transactions.
• Exemptions for Small Traders – TDS exemption thresholds are set at 50,000 for small traders and 10,000 for other investors.
• Capital Gains Tax Rules Apply – Gains from VDAs will be taxed under short-term or long-term capital gains provisions, depending on the holding period.
• Seizure During Investigations – Tax authorities now have the power to seize VDAs during investigations and tax raids, similar to assets like cash or gold.
• Mandatory Reporting – Entities dealing in VDAs (such as crypto exchanges and wallet providers) must report transactions in a prescribed format.
• Inclusion in AIS (Annual Information Statement) – VDA transactions will be automatically recorded in taxpayers’ financial profiles, ensuring transparency.

Significance of VDA Taxation:

• Enhanced Transparency – The requirement to report VDA transactions will help curb tax evasion and ensure authorities can track large crypto transactions.
• Encouraging Financial Discipline – Taxation may influence investment behavior, prompting investors to carefully assess tax implications before trading.
• Boosting Investor Confidence – Establishing a clear legal framework for VDAs will attract foreign investments and increase trust in India’s digital asset market.

Challenges and Concerns:

• Regulatory Gaps – While taxation has been addressed, challenges remain in investor protection, market regulation, and enforcement mechanisms.
• High Tax Burden – The 30% tax rate could discourage small investors and frequent traders, making VDAs less attractive compared to traditional investments.

Way Forward:

• Aligning with Global Standards – India’s move to classify VDAs as capital assets follows the regulatory approach of nations like the U.K. and the U.S., strengthening legal recognition.
• Comprehensive Policy Framework – A well-rounded policy integrating financial regulations, consumer rights, and technological safeguards is essential for a secure and sustainable digital asset ecosystem.

India’s new tax framework for VDAs marks a significant step in regulating digital assets, but further refinements are needed to ensure a balanced and investor-friendly environment. 

4. SEBI Expands Investment Scope in Asset Reconstruction Market

5. India’s First Comprehensive River Dolphin Survey

Context: Prime Minister Narendra Modi has unveiled the results of India’s first large-scale population survey of riverine dolphins, conducted between 2021 and 2023.

• The survey, covering the Ganga and Brahmaputra basins, estimated an average of 6,324 Gangetic dolphins.
• Alarmingly, only three Indus River dolphins were found in the Beas River, Punjab.
• The findings highlight serious threats to these endangered species, including pollution, habitat destruction, prey depletion, and climate change.
• Both dolphin species are given top protection under the Wildlife Protection Act, 1972.

Key Findings of the River Dolphin Survey (2021-2023):

This first-of-its-kind study provides valuable insights into the status of India’s endangered river dolphins and emphasizes the need for strong conservation measures.

Survey Overview:

• Conducted by the Wildlife Institute of India (WII) under the Union Environment Ministry.
• Covered 28 rivers by boat and 30 rivers by road across the Ganga, Brahmaputra, and Beas basins.
• Surveyed:
  • 7,109 km of the Ganga and its tributaries.
  • 1,297 km of the Brahmaputra river system.
  • 101 km of the Beas River.

Dolphin Population Estimates:

• Total Gangetic Dolphins:6,324 (range: 5,977 – 6,688).
  • Ganga (Main Stem): 3,275
  • Ganga’s Tributaries: 2,414
  • Brahmaputra (Main Stem): 584
  • Brahmaputra’s Tributaries: 51
• Indus River Dolphins: Only 3, found in Beas River, Punjab.

State-Wise Distribution of Gangetic Dolphins:

• Uttar Pradesh – 2,397 (highest population).
• Bihar – 2,220.
• West Bengal – 815.
• Jharkhand – 162.
• Rajasthan & Madhya Pradesh – 95.
• Punjab – 3.

Survey Methodology and Challenges:

Challenges in Dolphin Population Estimation:

• Difficult to Track: River dolphins live in turbid waters and surface only for 1.26 seconds before diving for 107 seconds.
• Observer Errors: Some surfacing dolphins might be missed during counting.
• Availability Errors: Some dolphins may not surface at all during the survey period.

Survey Techniques:

• Visual Surveys: Double Observer Method (for deep & wide rivers) – Two teams scan both sides of the vessel, reducing errors.
• Tandem Method (for narrow & shallow rivers) – A boat moves slowly to count visible dolphins.
• Single Boat Method (for small channels) – Focused on areas less than 300m wide.

Acoustic Surveys

• Hydrophones (Underwater Microphones) detect dolphin echolocation clicks.
• Dolphins navigate using sound, so acoustic methods improve detection accuracy.

This multi-method approach ensures a more reliable estimation of India’s endangered river dolphin population.

Dolphin ‘Hotspots’ & ‘Coldspots’:

Areas with Low or No Dolphin Presence (‘Coldspots’)

Ganga River:

• Narora to Kanpur (366 km): Very low dolphin count (0.1/km).
• Farukkhabad-Kannauj Stretch: Another major coldspot.

Other Coldspots:

• Yamuna River (Kaushambi-Chitrakoot).
• Sharda River (Pilibhit).
• Rapti River (Balrampur-Siddharth Nagar).
• Barak River (Assam).
• Subansiri & Kulsi Rivers (Assam) – Declining populations.

Areas with High Dolphin Population (‘Hotspots’):

• Uttar Pradesh: 0.62 dolphins/km.
• Bihar: 1.62 dolphins/km (highest encounter rate).
• Brahmaputra River: Deep waters but low dolphin density.

Densely Populated Stretches:

• Chausa-Manihar Stretch (590 km): 2.20 dolphins/km.
• Manihari (Bihar) to Rajmahal (Jharkhand): 2.75 dolphins/km (highest density).

Conclusion: Deeper river sections and tributary confluences offer the best habitats for dolphins, making them priority zones for conservation.

Final Thoughts:

India’s first-ever river dolphin survey provides critical data for the conservation of these endangered species. The findings highlight the urgent need to protect their habitats from pollution, habitat degradation, and climate change.With these insights, targeted conservation programs can be developed, ensuring that India’s river dolphins thrive in the coming years.

6. From Borrowers to Builders: Women Driving India’s Financial Growth” Report Released

Context: The report has been jointly published by TransUnion CIBIL, the Women Entrepreneurship Platform (WEP) of NITI Aayog, and MicroSave Consulting (MSC). It sheds light on the growing financial participation of women in India and the challenges they continue to face.

Key Highlights of the Report

Surge in Women Borrowers:

• The number of women seeking credit has tripled between 2019 and 2024, signaling a strong rise in financial inclusion.

Demographic Trends:

• 60% of women borrowers come from semi-urban or rural areas, showing increasing financial participation beyond metro cities.
• However, women under 30 make up only 27% of total retail credit, while men in the same age group account for 40%.

Regional Insights:

• Southern states report higher participation of women in borrowing compared to Northern and Central India.

Growing Awareness:

• 27 million women borrowers have checked their credit scores through CIBIL, indicating a rising awareness of financial health.

Challenges Faced by Women Borrowers:

Credit Aversion:

• Many women hesitate to take loans due to social norms, fear of debt, and the complicated loan application process.

Unfriendly Banking Experience:

• Several financial institutions lack tailored advisory services for women, making banking less welcoming.

Limited Institutional Support:

• Women entrepreneurs are often seen as high-risk borrowers due to their limited credit history and lack of formal business experience.
• Example: 79% of women-owned businesses are self-financed, while only 7% of MSME credit is directed towards them.

Barriers to Credit Readiness:

• Many women struggle to access loans due to the lack of proper documentation, collateral, or a guarantor.
• Example: 22.2% of women-led collective enterprises are still not credit-ready.

Conclusion: The report highlights the remarkable progress women have made in India’s financial landscape but also underscores the existing challenges that need urgent attention. Addressing these barriers will be key to empowering more women entrepreneurs and ensuring inclusive economic growth.