21st August 2025 Daily Current Affairs

National Highlights (India)

1. Government Approves ₹62,000 Crore Deal for 97 Tejas Mk1A Jets

The Indian government has greenlit the purchase of 97 Tejas Mark 1A Light Combat Aircraft (LCA) for the Indian Air Force, in a deal amounting to ₹62,000 crore. This marks a significant boost to India’s indigenous defense manufacturing capabilities.

2. Schools Closed in Gautam Buddh Nagar Due to Guru Dronacharya Mela

Schools in Noida, Greater Noida, and the broader Gautam Buddh Nagar district remained closed on August 21, 2025, to ensure safety during the large-scale Guru Dronacharya Mela celebrations.

3. Monsoon Session Wraps Up Amidst Political Turmoil

The Indian Parliament’s Monsoon Session ended on a tumultuous note. Key developments include:

• Unexpected resignation of Vice President Jagdeep Dhankhar citing health reasons.

• A heated exchange between PM Narendra Modi and Rahul Gandhi over the Operation Sindoor controversy.

• Protests by the opposition INDIA bloc over alleged electoral malpractice (SIR issue).

• The passage of the Online Gaming Bill, banning all real-money games.

• Formation of a panel to investigate Justice Yashwant Varma’s alleged cash scandal.

• A new bill proposing the resignation of ministers detained for 30 days was also introduced.

4. EAM Jaishankar Urges Boost in India–Russia Trade

External Affairs Minister S. Jaishankar called for stronger bilateral trade with Russia, emphasizing the need to enhance Indian exports—especially in agriculture and pharmaceuticals—to develop balanced and sustainable economic partnerships.

5. WHO Verifies Nepal as Rubella-Free

Nepal has been officially declared rubella-free by the World Health Organization, joining the ranks of Bhutan, Maldives, and Sri Lanka in achieving measles-rubella elimination in South-East Asia. This milestone supports the broader regional goal of eliminating these diseases by 2026.

6. Global Leaders Forum in New Delhi

At the Economic Times World Leaders Forum, former U.S. Secretary of State John Kerry, Indian diplomat Shashi Tharoor, and former Italian PM Matteo Renzi are convening in New Delhi to analyze current geopolitical dynamics.

International & Market Developments

7. U.S.–EU Trade Accord & Market Trends

• The U.S. and the EU finalized a new trade and investment framework: EU will lift tariffs on U.S. industrial goods and expand access for U.S. agricultural and seafood exports, while the U.S. will increase tariffs on some EU products.

• In markets, U.S. stock futures inched lower, extending the S&P 500’s skid to four days.

• Walmart posted mixed Q2 results—revenues beat expectations, but profits missed—resulting in a ~3% drop in premarket trading, despite raising full-year guidance.

• Meta paused hiring for its AI division amid concerns over high compensation costs.

• CME Group and FanDuel plan to roll out “event contracts” allowing trading on economic and financial outcomes, akin to Robinhood’s product.

8. Global Flashpoint: Ukraine-Russia Tensions

• Russian Foreign Minister Lavrov demanded Moscow retain veto power over any foreign troop deployments in Ukraine.

• Ukrainian President Zelenskyy called for solid security guarantees within 7–10 days and prefers a neutral venue for peace talks.

• Former U.S. President Trump stepped back from mediating, urging Putin and Zelenskyy to negotiate directly.

• The EU and U.S. also finalized a 15% cap on U.S. tariffs for many EU exports; however, issues around spirits, wines, and digital trade remain unresolved.

• Additionally, German prosecutors confirmed the arrest of a Ukrainian suspect linked to the Nord Stream pipeline sabotage.

9. Mumbai: Life Returns to Normal

Following widespread flooding and disruptions, schools and colleges in Mumbai resumed operations as rain subsided and normalcy began to return to the city.

Summary Table