Daily Current Affairs May 01

Dear Champions, as you all know that a lot of competitive exams have been notified consequently. Candidates have to prepare themselves according to the level of competition and expectation of the Recruitment board. Regarding that one of the most important topic is Daily Current Affairs May 01. Current Affairs in the form of contemporary events of national & international play a crucial role in almost every competitive exams like Banking, Insurance, SSC, UPSC, TNPSC, Railway etc.

Current affairs are the most dynamic yet scoring among all sections and need to be prepared from the right source. Here, we cafunsta team, providing Daily GK Updates, Current Affairs Questions, and Monthly current affairs pdf.

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May 01 | Daily Current Affairs 2025

Important Days – Daily Current Affairs May 01

1. When was International Labour Day first celebrated in India and by whom?
A) 1947, B.R. Ambedkar
B) 1923, Comrade Singaravelu Chettiar
C) 1935, Mahatma Gandhi
D) 1919, Sardar Vallabhbhai Patel
E) 1950, Jawaharlal Nehru
Answer: B) 1923, Comrade Singaravelu Chettiar

Event and Location:

• Event: International Labour Day 2025
• Date: 1st May 2025
• Location: Celebrated globally including India

Mandates and Objectives:

• Purpose: To honour the contributions of workers and promote awareness of labour rights.
• Focus in 2025: Emphasize reforms for fair labour practices amidst modern workplace challenges like automation and informal employment.
• Significance: Reinforces the importance of safe working conditions, decent wages, and social security.
• Global Solidarity: Recognizes the shared struggles and aspirations of workers worldwide.
• Encouragement for Reforms: Pushes for effective implementation of labour codes and inclusive labour market growth.
• Celebration of Past Achievements: Highlights progress made in workplace safety, social protection, and trade union rights.

Important Terms Explained:

• International Labour Day: Also called International Workers’ Day, commemorated annually on May 1 to acknowledge labour rights and movements.
• Haymarket Affair: 1886 labour protest in Chicago advocating for an 8-hour workday, which turned violent, leading to the day’s global observance.
• Four Labour Codes: Indian labour law reforms including the Code on Wages (2019), Industrial Relations Code (2020), Social Security Code (2020), and Occupational Safety, Health and Working Conditions Code (2020).
• Code on Wages, 2019: Regulates minimum wages, payment of wages, bonus, and equal remuneration.
• Industrial Relations Code, 2020: Governs trade unions, strikes, and dispute resolution mechanisms.
• Social Security Code, 2020: Extends benefits like PF, ESI, gratuity, and coverage to gig and platform workers.
• Occupational Safety, Health and Working Conditions Code, 2020: Ensures worker health, safety standards, and working hours.
• e-Shram Portal: A centralized digital registry for unorganised workers to provide them with access to social security schemes.
• PM Shram Yogi Maandhan Yojana: A pension scheme for informal workers offering ₹3,000/month post-retirement.
• MGNREGA: The Mahatma Gandhi National Rural Employment Guarantee Act, ensures 100 days of paid work to rural households.
• Red Flag: Symbol of the labour movement, first used in India during Labour Day celebrations in 1923 in Chennai.

Tabular Summary:

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2. Which movement played a key role in the creation of Gujarat as a separate state in 1960?
A) Samyukta Maharashtra Movement
B) Telangana Movement
C) Mahagujarat Movement
D) Dravida Nadu Movement
E) Gorkhaland Movement
Answer: C) Mahagujarat Movement

Event and Location:

• Event: Gujarat Statehood Day (Gujarat Sthapana Divas)
• Date: 1st May 2025
• Location: Gujarat, India (Main celebration in Godhra, Panchmahal District)

Mandates and Objectives:

• Purpose: To commemorate the formation of Gujarat as a separate state on May 1, 1960.
  Cultural Identity: Recognize the linguistic and cultural identity of Gujarati-speaking people.
• Acknowledgement of Sacrifices: Honor the contributions of leaders and citizens in the Mahagujarat Movement.
• State Progress: Reflect on Gujarat’s achievements in sectors like industrial growth, infrastructure, and education.
• Community Participation: Foster unity, pride, and community spirit through cultural and public events.

Important Terms Explained:

• Gujarat Sthapana Divas: Celebrated annually on May 1st, it marks the creation of Gujarat from the bilingual Bombay State in 1960.
• Mahagujarat Movement: A movement demanding a separate state for Gujarati-speaking people, led by Indulal Yagnik under the Mahagujarat Janata Parishad.
• Bombay Reorganisation Act, 1960: The act that led to the bifurcation of Bombay State, resulting in the creation of Gujarat and Maharashtra.
• Initial Capital: Ahmedabad was the first capital of Gujarat before it shifted to Gandhinagar in 1970.
• Petroleum Capital of India: Gujarat holds this title due to rich reserves in Ankleshwar, Hazira, Mehsana, etc.
• Diamond Industry: Gujarat accounts for 72% of global processed diamonds and 80% of India’s diamond exports.
• Denim Production: Gujarat produces 65–70% of India’s denim, ranking 3rd globally.
• Ports and Airports: Gujarat operates 42 ports and 18 airports, leading in logistics infrastructure in India.

Tabular Summary:

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3. Under which act was the state of Maharashtra formed in 1960?
A) States Creation Act, 1956
B) Linguistic States Act, 1959
C) Bombay Reorganisation Act, 1960
D) Maharashtra Statehood Act, 1960
E) Indian States Act, 1961
Answer: C) Bombay Reorganisation Act, 1960

Event and Location:

• Event: Maharashtra Statehood Day (Maharashtra Diwas)
• Date: 1st May 2025
• Location: Maharashtra, India (Main celebrations in Mumbai and major cities)

Mandates and Objectives:

• Purpose: To commemorate the formation of the state of Maharashtra on May 1, 1960.
• Linguistic Identity: Recognize the cultural and linguistic aspirations of the Marathi-speaking population.
• Acknowledgment of Struggles: Honor the efforts of activists and leaders for a separate state.
• Democratic Values: Reinforce India’s commitment to linguistic harmony and administrative federalism.
• Showcase Achievements: Celebrate Maharashtra’s cultural richness, industrial strength, and financial leadership.

Important Terms Explained:

• Maharashtra Diwas / Maharashtra Day: Celebrated annually on May 1st, marking the state’s formation in 1960 from the bifurcation of Bombay State.
• Bombay Reorganisation Act, 1960: The act passed by Parliament to split Bombay State into Maharashtra and Gujarat based on linguistic lines.
• States Reorganisation Commission (SRC): Formed in 1953 to recommend state boundaries based on linguistic and cultural identity.
• Mumbai: Formerly Bombay, became the capital of Maharashtra due to its economic and historical importance.
• Lavani and Tamasha: Traditional folk dance and theatre forms that represent Maharashtra’s vibrant cultural heritage.
• Ganesh Chaturthi: One of Maharashtra’s largest festivals, reflecting the state’s spiritual and cultural values.
• Bollywood: The Hindi-language film industry centered in Mumbai, contributing significantly to India’s global cultural presence.

Tabular Summary:

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Sports – Daily Current Affairs May 01

4. Which club won the 2024–25 Premier League title and equaled Manchester United’s record of top-division titles?
A) Arsenal
B) Manchester City
C) Chelsea
D) Tottenham Hotspur
E) Liverpool
Answer: E) Liverpool

Event and Location:

• Event: Liverpool Crowned 2024–25 Premier League Champions
• Date: May 1, 2025 (Confirmed after match vs. Tottenham)
• Location: Anfield Stadium, Liverpool, England

Mandates and Objectives:

• Objective: To recognize Liverpool’s official clinching of the 2024–25 Premier League title.
• Historic Significance: Marked Liverpool’s 20th top-division title, equaling the record held by Manchester United.
• Managerial Impact: Celebrated Arne Slot’s success in his debut season after replacing Jürgen Klopp.
• Sporting Legacy: Reinforced Liverpool’s status as one of the most successful clubs in English football history.
• Seasonal Excellence: Showcased consistency with 25 wins, only 2 losses, and a commanding 15-point lead.

Important Terms Explained:

• Premier League: England’s top-flight football competition established in 1992, representing the highest level of club football in the country.
• Top-Division Titles: Refers to championships won in the top tier of English football, including both the Premier League era and prior First Division era.
• Arne Slot: Newly appointed head coach of Liverpool FC for the 2024–25 season, succeeding legendary manager Jürgen Klopp.
• Anfield Stadium: Home ground of Liverpool FC, where they secured the title with a 5–1 win over Tottenham Hotspur.
• Mohamed Salah: Liverpool’s top scorer of the 2024–25 season with 28 goals at the time of the title win.

Tabular Summary:

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Ranking – Daily Current Affairs May 01

5. Which family topped Bloomberg’s list of the Top 10 Wealthiest Families in Asia 2025?
A) Mistry Family
B) Hartono Family
C) Lee Family
D) Ambani Family
E) Chearavanont Family
Answer: D) Ambani Family

Event and Location:

• Event: Asia’s Richest Families 2025 Ranking
• Date: January 31, 2025
• Location: Asia (with notable focus on India, Thailand, Indonesia, etc.)

Mandates and Objectives:

• Purpose of the List: To evaluate the long-term growth, sustainability, and generational wealth transfer of Asia’s most influential family-owned business empires.
• Scope: Focuses exclusively on families with wealth passed through at least one generation, excluding first-generation entrepreneurs.
• Significance for India: Highlights the resilience, dominance, and evolution of Indian family-run conglomerates in both domestic and global markets.
• Economic Insight: Reflects regional business power structures and the legacy of multi-generational enterprises in shaping economic outcomes.

Important Terms Explained:

• Bloomberg’s Richest Families List: A financial ranking identifying Asia’s wealthiest families based on multi-generational business success and current wealth.
• Generational Wealth: Wealth that has been passed down through at least one generation, signifying long-term sustainability in family business.
• Reliance Industries: The flagship conglomerate of the Ambani Family, leading in petrochemicals, telecom, retail, and energy sectors.
• Charoen Pokphand Group: A Thai conglomerate run by the Chearavanont Family, active in agribusiness, retail, and telecommunications.
• Djarum and Bank Central Asia: Businesses under Indonesia’s Hartono Family, prominent in banking and tobacco.
• Shapoorji Pallonji Group: A historic Indian infrastructure and real estate giant under the Mistry Family.
• OP Jindal Group: A major industrial conglomerate in steel and power under the Jindal Family.
• Aditya Birla Group: A diversified global enterprise spanning textiles, cement, and telecom under the Birla Family.
• Bajaj Group: Indian legacy group in automobiles, finance, and electricals led by the Bajaj Family.
• Hinduja Group: A globally diversified business in banking, property, and healthcare, led by the Hinduja Family.

Tabular Summary:

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Banking and Finance – Daily Current Affairs May 01

6. What was the estimated fall in total gold sales in India on Akshaya Tritiya 2025 compared to last year?
A) 10%
B) 25%
C) 30%
D) 50%
E) 15%
Answer: C) 30%

Event and Location:

• Event: Fall in Akshaya Tritiya Gold Sales and Quarterly Gold Demand in India
• Date: April 30, 2025 (Akshaya Tritiya); Jan–March 2025 (Q1 Data)
• Location: India

Mandates and Objectives:

• Objective: To highlight the decline in gold demand due to high prices impacting both festive and quarterly sales.
• Purpose: Assess market response to elevated gold prices and their impact on consumer buying behavior.
• Economic Impact: Drop in jewellery and bullion demand during a major gold-buying festival and in Q1 2025.

Important Terms Explained:

• Akshaya Tritiya: A traditional Hindu and Jain festival considered auspicious for buying gold and other precious items.
• Q1 (Jan–Mar) Gold Demand: Fell by 15% year-on-year to 118.1 tonnes – steepest decline in 5 years.
• Gold Jewellery Sales: Plunged 25% in Q1 2025 to 71.4 tonnes amid record-high prices.
• Gold Price: Surged to ₹95,689 per 10 grams in physical market; ₹98,469 per 10 gm (retail) including GST.
• Gold ETF & Digital Gold: Helped sustain investment demand with a 7% YoY rise to 47 tonnes.
• PCUs (Passenger Car Units): Used elsewhere, here PCU not applicable – ignore for this report.
• Old Gold Exchange: Around 50% of gold purchases financed through exchange of old jewellery, indicating budget-conscious buying.

Tabular Summary:

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7. Why has the Income Tax Department invoked the Benami law against some payment gateway companies?
A) To regulate digital gold transactions
B) To introduce a new GST compliance framework
C) To trace shell entities and identify fake merchants routing money for tax evasion
D) To promote UPI usage among small businesses
E) To investigate cryptocurrency transactions
Answer: C) To trace shell entities and identify fake merchants routing money for tax evasion

Event and Location:

• Event: Some Payment Gateways Receive Benami Notices from Income Tax Department
• Date: April–May 2025 (ongoing investigation reported)
• Location: India

Mandates and Objectives:

• Purpose: To uncover shell entities and benami transactions on payment gateway platforms using UPI IDs.
• Aim:
  • Identify individuals/entities behind suspicious UPI-linked transactions.
  • Verify whether merchants are holding or moving funds on behalf of others.
  • Prevent bogus payments and tax evasion through digital channels.
• Legal Basis: Notices issued under Section 23 of the Benami Transactions (Prohibition) Act, 1988.

Important Terms Explained:

• Benami Transaction: A financial transaction where the property or asset is held by one person, but the consideration is paid by another, masking the true beneficiary.
• Section 23 – Benami Act: Empowers the Income Tax Department to call for information from entities when benami involvement is suspected.
• Payment Gateways (PGs): Digital platforms that enable businesses to receive payments online. PGs are expected to perform KYC checks before onboarding merchants.
• KYC (Know Your Customer): Mandatory verification process for identifying and authenticating customers’ identities before service onboarding.
• Front Entity: A fake or unrelated person/entity used to conceal the actual beneficiary of a financial transaction.

Tabular Summary:

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8. Why have many borrowers not seen a reduction in their loan EMIs despite RBI’s policy rate cuts?
A) Increase in inflation
B) Higher government taxes
C) Large share of loans still linked to MCLR, which transmits slowly
D) RBI has not reduced rates at all
E) Banks have stopped offering floating rate loans
Answer: C) Large share of loans still linked to MCLR, which transmits slowly

Event and Location:

• Event: Policy Rate Cuts Yet to Benefit Many Borrowers
• Date: April 2025 (RBI data released)
• Location: India

Mandates and Objectives:

• Purpose: To assess why RBI’s recent policy rate cuts have not effectively lowered borrowing costs for many bank customers.
• Policy Action: RBI has cut the repo rate by 50 basis points since February and infused ₹6.5 lakh crore liquidity into the banking system.
• Transmission Challenge: Due to MCLR-linked loans, which adjust more slowly than external benchmark-linked rates, many borrowers have not yet seen EMI relief.

Important Terms Explained:

• MCLR (Marginal Cost of Funds-Based Lending Rate): Internal benchmark used by banks to determine loan interest rates; adjusts slowly to policy rate changes.
• Repo Rate: The rate at which RBI lends to commercial banks; a reduction is intended to lower borrowing costs in the economy.
• EBLR (External Benchmark-Linked Rate): Loan pricing system linked to external benchmarks like the RBI repo rate, which reflects changes more quickly.
• WALR (Weighted Average Lending Rate): Average interest rate charged by banks on fresh rupee loans, factoring in loan volume and interest rate.
• EMIs (Equated Monthly Installments): Fixed payments made by borrowers each month toward a loan, affected by changes in interest rates.

Tabular Summary:

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9. Which segment recorded the highest credit growth in FY25 according to RBI data?
A) Medium enterprises
B) Renewable energy
C) Advances against shares and bonds
D) Loan against gold jewellery
E) Agriculture and allied activities
Answer: D) Loan against gold jewellery

Event and Location:

• Event: Bank Lending Growth Slows to 12% in FY25
• Date: FY2024–25 (Reported as of March 21, 2025)
• Location: India

Mandates and Objectives:

• Purpose: To assess the overall slowdown in bank credit growth during FY25 due to regulatory factors and high base effect.
• Objective: Examine sectoral deployment of credit and highlight segments with both accelerated and decelerated growth.
• Policy Implication: Impact of RBI’s regulatory actions on sectors like retail and services, and capital risk containment.

Important Terms Explained:

• Bank Credit Growth: The annual increase in the total credit extended by banks to various sectors such as industry, agriculture, and services.
• MCLR-linked Lending: Loans priced based on the Marginal Cost of Funds Based Lending Rate, often slow in responding to rate changes.
• Base Effect: A statistical concept where the current year’s growth appears slower due to high growth in the previous year.
• NBFCs (Non-Banking Financial Companies): Financial institutions offering services similar to banks but not licensed to accept deposits, faced slower credit growth.
• RBI Monthly Bulletin: A regular publication providing data-driven economic analysis and financial sector updates.

Tabular Summary:

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10. Which major change has been introduced in the revised ITR Forms 1 & 4 for AY 2025–26?
A) Introduction of new GST returns for businesses
B) Requirement to report foreign bank accounts
C) Allowing LTCG up to ₹1.25 lakh to be filed in ITR-1 or ITR-4 if no loss is carried forward
D) Removal of TDS reporting from ITRs
E) Introduction of Form 10-AB for agricultural income
Answer: C) Allowing LTCG up to ₹1.25 lakh to be filed in ITR-1 or ITR-4 if no loss is carried forward

Event and Location:

• Event: Revised ITR Forms 1 & 4 Notified for AY 2025–26
• Date: Effective from April 2025 (for AY 2025–26)
• Location: India

Mandates and Objectives:

• Purpose: To simplify income tax return (ITR) filing for small taxpayers, especially individuals and businesses with income up to ₹50 lakh.
• Objective:
  • Streamline compliance
  • Improve accessibility for small investors
  • Ease reporting of Long-Term Capital Gains (LTCG)
  • Ensure timely and accurate return filing

Important Terms Explained:

• ITR-1 (Sahaj): For resident individuals with total income up to ₹50 lakh from salary, one house property, and other sources.
• ITR-4 (Sugam): For individuals, HUFs, and firms (other than LLPs) having total income up to ₹50 lakh under the presumptive taxation scheme.
• LTCG (Long-Term Capital Gains): Profits earned from the sale of long-term capital assets; gains up to ₹1.25 lakh can now be declared in ITR-1/ITR-4 if there’s no carry forward.
• Form 10-IEA: Must be filed by businesses or individuals switching from the new tax regime to the old regime for a given financial year.
• Section 194/194A: TDS sections applicable on dividends and interest on bank deposits, now required to be specified in ITR.
• Section 112A: Governs taxation of LTCG on equity shares and mutual funds.

Tabular Summary:

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Business and Economy – Daily Current Affairs May 01

11. What was the key factor behind the Indian rupee’s appreciation to 84.48/$1, its strongest level since November?
A) Decrease in oil prices
B) Government bond purchases
C) Dollar sales by exporters and equity inflows
D) Increased gold imports
E) RBI’s interest rate hike
Answer: C) Dollar sales by exporters and equity inflows

Event and Location:

• Event: Indian Rupee Rises to Strongest Level Since November
• Date: April 30, 2025 (reported)
• Location: India (Currency Market)

Mandates and Objectives:

• Purpose: To report the appreciation of the Indian Rupee against the US Dollar to its highest level since November 2024.
• Key Objective: Analyze the factors driving the rupee’s gain, including equity inflows, exporter dollar sales, and market sentiment on trade optimism.

Important Terms Explained:

• USD/INR Exchange Rate: The value of the Indian rupee in relation to the US dollar. The rupee appreciated to ₹84.48/$1, its highest since November 29, 2024.
• Equity Inflows: Foreign investment entering Indian stock markets, which increases demand for the rupee and strengthens its value.
• Dollar Sales by Exporters: Exporters converting dollar revenues to rupees leads to greater rupee demand and strengthens the currency.
• Unwinding Long Dollar Positions: Traders closing previous bullish bets on the dollar, contributing to rupee appreciation.
• LSEG Data: Data from the London Stock Exchange Group showing closing rates and market performance.
• DXY (Dollar Index): The US dollar index stood at 99.4, indicating relative dollar weakness, supporting other currencies like the rupee.
• Technical Level: Rupee breached the ₹85/USD level, triggering stop-loss orders and additional bullish sentiment.

Tabular Summary:

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12. What is the planned capital expenditure (Capex) of CEAT Tyres for FY26?
A) ₹500–750 crore
B) ₹1,500 crore
C) ₹950–1,000 crore
D) ₹800–900 crore
E) ₹1,200 crore
Answer: C) ₹950–1,000 crore

Event and Location:

• Event: CEAT Plans up to ₹1,000 crore Capex in FY26
• Date: FY26 (Financial Year 2025–26)
• Location: India (Key project site: Ambarnath, Mumbai)

Mandates and Objectives:

• Purpose: To expand manufacturing capacity across product segments like TBR tyres, OHT tyres, and two-wheelers.
• Capex Goal: Support ongoing and new projects, including plant output expansion and new product launches.
• Production Growth: Increase daily output at the Ambarnath plant from 105 tonnes to 150 tonnes.
• Market Focus: Strengthen CEAT’s presence in the growing off-highway tyres (OHT) segment.
• Product Development: Launch 20+ new OHT products in FY26.

Important Terms Explained:

• Capex (Capital Expenditure): Long-term investment by a company to build or upgrade physical assets such as equipment, plants, and infrastructure.
• TBR Tyres (Truck and Bus Radial): A category of tyres designed for trucks and buses, offering high durability for heavy-load transport.
• OHT (Off-Highway Tyres): Specialised tyres used in construction, mining, agriculture, and other off-road applications.
• Ambarnath Plant: One of CEAT’s key manufacturing facilities, located near Mumbai, undergoing significant capacity expansion.

Tabular Summary:

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13. What was Indian Oil Corporation’s (IOC) Q4 profit for the financial year 2024–25, and what contributed to the rise?
A) ₹12,962 crore, due to GRM surge
B) ₹7,265 crore, driven by inventory gains and marketing margins
C) ₹7,265 crore, due to reduced crude prices
D) ₹39,619 crore, driven by higher fuel demand
E) ₹9,000 crore, due to forex gains
Answer: B) ₹7,265 crore, driven by inventory gains and marketing margins

Event and Location:

• Event: Inventory Gains Boost IOC’s Q4 Profit by 50%
• Date: Q4 FY2024–25 (Jan–Mar 2025)
• Location: India

Mandates and Objectives:

• Purpose: To report Indian Oil Corporation’s financial performance and investment decisions for Q4 and FY25.
• Key Driver: The 50% YoY rise in Q4 profit was driven by inventory gains and improved marketing margins, despite a fall in GRM.
• Strategic Focus: Continued investment in renewable energy capacity through its subsidiary Terra Clean Ltd.

Important Terms Explained:

• GRM (Gross Refining Margin): Profit earned by refiners on converting crude oil into petroleum products. IOC’s GRM for Q4 FY25 fell to $7.85/barrel, down from $8.39/barrel last year.
• Inventory Gains: Gains resulting from the rise in the value of crude inventory; IOC reported gains this year vs. losses last year.
• Terra Clean Ltd.: IOC’s renewable energy subsidiary, receiving ₹1,086 crore equity investment for 4.3 GW renewable capacity.
• Capex Plan (Renewables): Additional ₹1,304 crore already announced to set up 1 GW of renewable energy capacity.
• Dividend Declared: ₹3 per share for FY24–25.

Tabular Summary:

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Science and Technology – Daily Current Affairs May 01

14. What is the primary objective of the GenomeIndia Project launched by the Government of India?
A) Export Indian DNA samples for international trials
B) Build a national DNA bank for criminal investigations
C) Construct a national genomic database for health research and innovation
D) Develop genetically modified crops
E) Store biometric data for digital identification
Answer: C) Construct a national genomic database for health research and innovation

Event and Location:

• Event: GenomeIndia Project: India Unlocks National Genetic Resource for Research and Innovation
• Date: April 30, 2025 (Data access announced)
• Location: India (Pan-India initiative; data housed at IBDC)

Mandates and Objectives:

• Purpose: To build a national genomic database reflecting India’s genetic diversity.
• Aim: Enable translational research, personalized medicine, and healthcare innovation.
• Scientific Significance: Facilitate studies on India-specific diseases, drug response patterns, ancestry, and health determinants.
• Policy Impact: Empower data-driven public health strategies and genomics-based precision medicine.
• Global Alignment: Support India’s position in international genomics and fulfill SDGs like SDG 3 and SDG 9.

Important Terms Explained:

• GenomeIndia Project: A flagship initiative led by the Department of Biotechnology (DBT) to sequence and analyze the genomes of over 10,000 Indian individuals for scientific and healthcare advancement.
• Whole Genome Sequencing (WGS): The process of mapping an individual’s complete DNA sequence. WGS data from 9772 individuals was compiled under this project.
• Indian Biological Data Centre (IBDC): India’s first national repository for biological data, set up in March 2020, which now houses GenomeIndia datasets.
• Biotech-PRIDE Guidelines (2021): Framework ensuring ethical, transparent, and secure data sharing in biological sciences.
• FASTQ Files: Large, raw genomic data files (totaling 700 TB) used in sequencing analysis.
• gVCF Files: Genomic Variant Call Format files storing DNA variation data, totaling 35 TB in the GenomeIndia project.
• Phenotypic Data: Traits and health variables (e.g., Hemoglobin, Cholesterol, Fasting Glucose) recorded for 9330 individuals for research correlation.
• FeED Protocols: Framework for secure researcher access to genomic and phenotypic data using cloud-based access models.

Tabular Summary:

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National Affairs – Daily Current Affairs May 01

15. What is the main objective of WAVES 2025, launched by the Government of India?
A) To boost agricultural productivity using media
B) To promote Indian cinema only in rural regions
C) To transform India into a global Media & Entertainment powerhouse
D) To restrict foreign media collaborations
E) To organize annual music festivals in India
Answer: C) To transform India into a global Media & Entertainment powerhouse

Event and Location:

• Event: WAVES 2025 (World Audio Visual & Entertainment Summit)
• Date: May 1–4, 2025
• Location: Jio World Convention Centre, Mumbai, Maharashtra

Mandates and Objectives:

• Global Showcase: To establish India as the next global hub for digital content, gaming, cinematic arts, and animation.
• Creator Economy Boost: To offer growth and monetization opportunities to young creators and startups.
• Cultural Diplomacy: To enhance India’s global cultural influence and soft power.
• Technological Integration: To fuse AI, XR, VFX, gaming, and storytelling with India’s creative industries.

Important Terms Explained:

• WAVES 2025: The World Audio Visual & Entertainment Summit, launched by the Government of India to position the country as a leader in the Media & Entertainment (M&E) sector.
• Create in India Challenge: A flagship competition under WAVES 2025 featuring 32 contests across domains like animation, comics, drone videos, fashion, music, VFX, and XR.
• Esports Tournament: Included large-scale participation in titles like eFootball and World Cricket Championship, reflecting India’s push into digital sports entertainment.
• WAVES Creator Awards: Prestigious recognition for top creators and innovators in the digital and creative sectors.
• Exhibitions & Startup Pitches: Platforms for startups to showcase innovations and connect with global investors and content leaders.

Tabular Summary:

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16. What is the approved Fair and Remunerative Price (FRP) for sugarcane for the 2025–26 season as per the Union Cabinet decision?
A) ₹329.05/qtl
B) ₹355/qtl
C) ₹340/qtl
D) ₹365/qtl
E) ₹310/qtl
Answer: B) ₹355/qtl

Event and Location:

• Event: Cabinet Hikes Sugarcane Price for 2025–26 Season
• Date: 1st May 2025 (Decision announced)
• Location: India (Applicable nationwide)

Mandates and Objectives:

• Objective: To ensure better returns to sugarcane farmers and stability in the agro-based sugar industry.
• Price Support Mechanism: Fixing FRP with built-in incentives for higher sugar recovery and protection for low recovery levels.
• Farmer Welfare: Strengthen income of sugarcane growers and enhance sustainability of the sugar sector.
• Production Cost Comparison: The new FRP is 105.2% higher than the estimated cost of production (₹173/qtl), ensuring profitability.

Important Terms Explained:

• Fair and Remunerative Price (FRP): The minimum price that sugar mills are legally required to pay to sugarcane growers, announced by the Cabinet Committee on Economic Affairs (CCEA).
• Recovery Rate: The percentage of sugar obtained from sugarcane. A base recovery of 10.25% is used to calculate FRP.
• Premium Clause: Additional ₹3.46/qtl for every 0.1% increase in recovery above 10.25%.
• Deduction Clause: ₹3.46/qtl reduction for every 0.1% decrease below 10.25% (except where recovery is below 9.5%).
• Minimum Price for Low Recovery Farmers: Farmers will get at least ₹329.05/qtl even if recovery falls below 9.5%.
• CACP (Commission for Agricultural Costs and Prices): The government body responsible for recommending MSPs and FRPs in consultation with states and stakeholders.

Tabular Summary:

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17. What is the total length of the Shillong–Silchar Greenfield Corridor (NH-06) approved by the Union Cabinet in 2025?
A) 122.40 km
B) 178.90 km
C) 166.80 km
D) 144.50 km
E) 152.60 km
Answer: C) 166.80 km

Event and Location:

• Event: Centre Clears Greenfield NH-6 Corridor Linking Meghalaya and Assam
• Date: 1st May 2025
• Location: Meghalaya and Assam, India

Mandates and Objectives:

• Objective: To improve regional connectivity, logistics, and infrastructure between Meghalaya and Assam through a new greenfield expressway.
• Strategic Integration: Supports the PM Gati Shakti National Master Plan and Atmanirbhar Bharat by developing multimodal infrastructure.
• Mobility and Access: Reduces travel time and traffic congestion on existing NH-06, enhancing links to northeast states like Tripura, Mizoram, and Manipur.
• Employment Boost: Generates both direct (74 lakh man-days) and indirect (93 lakh man-days) employment.
• Economic Development: Promotes trade, tourism, and regional industries such as cement and coal in Meghalaya.

Important Terms Explained:

• Greenfield Corridor: A new road built where no previous route existed, allowing for modern and efficient design and faster travel.
• Hybrid Annuity Mode (HAM): A public-private partnership (PPP) model where the government shares construction risk and pays part of the capital cost during construction and the rest through annuities over time.
• PM Gati Shakti National Master Plan: A government initiative aimed at integrated and coordinated infrastructure development across India.
• Atmanirbhar Bharat: A vision for making India self-reliant by boosting domestic infrastructure, industries, and capabilities.
• PCUs (Passenger Car Units): A metric used in traffic studies to estimate and compare road usage by different types of vehicles.

Tabular Summary:

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18. What is the key requirement under Nepal’s new draft law for climbers aiming to summit Mount Everest?
A) Must be below 40 years of age
B) Must hold dual citizenship
C) Must have previously climbed a peak above 7,000 meters
D) Must pay a fully refundable garbage deposit
E) Must be accompanied by a Nepali guide
Answer: C) Must have previously climbed a peak above 7,000 meters

Event and Location:

• Event: Nepal to Restrict Mt. Everest Permits through New Law
• Date: April 18, 2025 (Draft bill registered in Upper House)
• Location: Nepal (Mount Everest region)

Mandates and Objectives:

• Purpose: To improve the safety of climbers and reduce the number of fatalities on Mount Everest.
• Aim:
  • Ensure that only experienced high-altitude climbers are granted permits.
  • Control environmental degradation caused by overcrowding and unmanaged waste.
  • Reshape mountaineering culture toward responsible and sustainable tourism.
• Policy Framework: Part of Nepal’s broader Integrated Tourism Bill initiative to regulate high-risk expeditions.

Important Terms Explained:

• Mount Everest: The highest mountain in the world (8,848.86 meters), attracting global climbers but also plagued with overcrowding and environmental degradation.
• Integrated Tourism Bill: A policy framework introduced by the Government of Nepal to regulate tourism and promote sustainability in mountain regions.
• Garbage Fee (Non-refundable): New provision replacing the earlier refundable waste deposit, aimed at ensuring permanent funding for cleanup and sustainability efforts.
• SDG 12 – Responsible Consumption and Production: The new Everest permit law supports this UN Sustainable Development Goal by encouraging waste reduction and regulated tourism.
• Body Retrieval Insurance: New insurance provisions aimed at enabling safer and more humane retrieval of climbers who perish during expeditions.

Tabular Summary:

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19. What is the total approved capital cost for the Meghalaya-Assam Greenfield Highway project as per the Cabinet decision?
A) ₹12,087 crore
B) ₹3,503 crore
C) ₹22,864 crore
D) ₹16,000 crore
E) ₹19,000 crore
Answer: C) ₹22,864 crore

Event and Location:

• Event: ₹22,864 crore Meghalaya-Assam Greenfield Highway Gets Green Signal
• Date: Cabinet approval on Wednesday (April 30, 2025)
• Location: Meghalaya and Assam, India

Mandates and Objectives:

• Purpose: To develop a 166.8-km access-controlled greenfield highway between Meghalaya and Assam under the Hybrid Annuity Mode (HAM).
• Aim:
  • Improve connectivity to Tripura, Mizoram, Manipur, and the Barak Valley.
  • Enhance logistics and reduce travel time.
  • Spur economic and industrial development in the Northeast region.
• Maintenance Plan: Project to be maintained by the concessionaire for 15 years.

Important Terms Explained:

• Greenfield Highway: A brand-new road built on undeveloped land to enable smoother, faster travel without modifying existing roads.
• Hybrid Annuity Mode (HAM): A PPP model in which 40% of the project cost is paid by the government during the construction phase and 60% is paid over time as annuities.
• Cabinet Committee on Economic Affairs (CCEA): Government body responsible for economic policy decisions, chaired by the Prime Minister.
• Civil Construction Cost: Cost of actual highway construction, estimated at ₹12,087 crore for this project.
• Land Acquisition Cost: Cost set aside for acquiring land, pegged at ₹3,503 crore.

Tabular Summary:

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Over All Review

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