Daily Current Affairs May 03 & 04

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 03 & 04. 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 03 & 04 | Daily Current Affairs 2025

Important Days – Daily Current Affairs May 03 & 04

1. When is World Press Freedom Day observed annually to recognize the role of independent journalism in democracy?
A) April 10
B) May 3
C) June 5
D) March 8
E) July 15
Answer: B) May 3

Event and Location:

• Event: World Press Freedom Day 2025 observed globally
• Location: International observance coordinated by UNESCO, inspired by Windhoek Declaration, Namibia

Mandates and Objectives:

• Press Advocacy: Promote and protect freedom of the press as a core democratic principle
• Journalist Safety: Honor and support journalists facing harassment, imprisonment, or violence
• Counter Disinformation: Highlight the dangers of digital misinformation and AI-generated content
• Civic Empowerment: Foster public media literacy and encourage ethical journalism
  Tribute: Commemorate journalists who have lost their lives in the line of duty

Important Terms Explained:

• World Press Freedom Day: An annual global event on May 3rd emphasizing the importance of a free, independent, and pluralistic media
• Windhoek Declaration (1991): A foundational document adopted in Namibia calling for media freedom and diversity in Africa, later inspiring the UN to declare May 3 as World Press Freedom Day
• UNESCO: The United Nations Educational, Scientific and Cultural Organization responsible for promoting press freedom and organizing this observance
• UDHR Article 19: Ensures the right to freedom of opinion and expression, foundational to media freedom
• ICCPR: The International Covenant on Civil and Political Rights, reinforcing freedom of speech and press globally

Tabular Summary:

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Obituary – Daily Current Affairs May 03 & 04

2. Who was recently known as the ‘Father of Angioplasty in India’ and passed away at the age of 77 in April 2025?
A) Dr. Devi Shetty
B) Dr. A.P.J. Abdul Kalam
C) Dr. Mathew Kalarickal
D) Dr. Naresh Trehan
E) Dr. Ashok Seth
Answer: C) Dr. Mathew Kalarickal

Event and Location:

• Event: Dr. Mathew Kalarickal, India’s pioneer of angioplasty, passed away
• Location: Chennai, Tamil Nadu
• Date of Death: April 18, 2025

Mandates and Objectives:

• Pioneering Goal: Introduced angioplasty to India in 1986, transforming cardiac care
• Medical Expansion: Promoted interventional cardiology across Asia-Pacific nations
• Educational Impact: Trained hundreds of cardiologists, creating a skilled ecosystem
• Legacy Objective: Bridge the healthcare divide by making advanced cardiac procedures accessible in India and neighbouring countries

Important Terms Explained:

• Angioplasty: A minimally invasive procedure to open narrowed or blocked blood vessels supplying the heart, often using a balloon and stent
• Interventional Cardiology: A branch of cardiology dealing with catheter-based treatment of heart diseases
• Padma Shri: India’s fourth-highest civilian award, given for distinguished contribution in various fields
• Dr. B.C. Roy Award: Prestigious Indian medical honor named after Dr. Bidhan Chandra Roy, awarded for excellence in the field of medicine

Tabular Summary:

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Ranking – Daily Current Affairs May 03 & 04

3. Which recently released list by Forbes India in 2025 honors self-made and influential Indian women leaders across diverse sectors?
A) Women of Influence 2025
B) SheLeads India 2025
C) W-Power List 2025
D) Women Achievers Index 2025
E) India’s Leading Women Icons 2025
Answer: C) W-Power List 2025

Event and Location:

• Event: Release of Forbes India’s W-Power List 2025
• Location: India (Nationwide recognition by Forbes India)
• Date: Published in May 2025

Mandates and Objectives:

• Empowerment Focus: Recognize and honor self-made women leaders across various domains
• Sectoral Representation: Highlight excellence in business, science, sports, public service, media, and entertainment
• Inspiration Driver: Provide role models for aspiring women professionals and entrepreneurs
• Gender Inclusivity: Promote women leadership in traditionally male-dominated industries
• Success Benchmarking: Celebrate resilience, innovation, and trailblazing leadership among Indian women

Important Terms Explained:

• W-Power List: An annual list published by Forbes India to spotlight India’s most influential and self-made women achievers
• Self-made Leader: An individual who has achieved success through personal effort, talent, and innovation rather than inherited positions
• Forbes India: A leading business magazine known for profiling influential people, economic trends, and innovation in India

Tabular Summary:

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Banking and Finance – Daily Current Affairs May 03 & 04

4. Which organization has partnered with the Land Ports Authority of India (LPAI) to provide modern banking services at 26 land ports across India?
A) Reserve Bank of India
B) Punjab National Bank
C) State Bank of India
D) NABARD
E) HDFC Bank
Answer: C) State Bank of India

Event and Location:

• Event: Signing of a Memorandum of Understanding (MoU) between State Bank of India (SBI) and the Land Ports Authority of India (LPAI)
• Location: 26 land ports across 8 Indian border states including Uttar Pradesh, Bihar, Mizoram, Uttarakhand, and West Bengal

Mandates and Objectives:

• Primary Goal: To provide comprehensive modern banking services at land ports across India
• Trade Facilitation: Enable smoother cross-border trade and passenger movement through improved banking support
• Financial Services: Include forex, insurance, digital banking, and corporate salary packages for LPAI staff
• Trade Target: Enhance trade value from ₹80,000 crore to ₹2 trillion by the year 2030
  Vision Alignment: Supports India’s national vision of Viksit Bharat by 2047

Important Terms Explained:

• Land Ports Authority of India (LPAI): A statutory body under the Ministry of Home Affairs, responsible for managing infrastructure at land border crossings to promote secure and efficient trade and transit.
• MoU (Memorandum of Understanding): A formal agreement between two or more parties outlining mutual goals and responsibilities.
• Forex Transactions: Foreign exchange services that facilitate currency conversion required for international trade and travel.
• Digital Banking: Delivery of banking services through online platforms including mobile apps, ATMs, and internet banking.
• Viksit Bharat 2047: A national development initiative aimed at transforming India into a developed country by 2047.

Tabular Summary:

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5. Which of the following best explains why the Reserve Bank of India significantly increased its gold reserves by 57.5 tonnes in FY25?
A) To fund infrastructure projects using gold-backed loans
B) To control inflation through commodity reserves
C) To hedge against global financial uncertainty and dollar volatility
D) To support gold exports from India
E) To align with the Finance Ministry’s new taxation policy on gold
Answer: C) To hedge against global financial uncertainty and dollar volatility

Event and Location:

• Event: The Reserve Bank of India (RBI) purchased 57.5 tonnes of gold in FY25
• Location: RBI Headquarters, Mumbai, India

Mandates and Objectives:

• Gold Accumulation Goal: Diversify foreign exchange reserves beyond traditional USD assets
• Risk Hedging: Serve as a hedge against currency volatility and geopolitical instability
• Value Preservation: Preserve reserve value as gold retains purchasing power over time
• Global Alignment: Align India’s strategy with global central banks amid fears of US dollar weakening
• Market Impact: Respond to a 30% rise in gold prices and growing investor preference for safe assets

Important Terms Explained:

• Reserve Bank of India (RBI): India’s central bank responsible for managing monetary policy, issuing currency, and maintaining financial stability
• Foreign Exchange Reserves: Assets held by central banks in different currencies to back liabilities and support currency stability
• Hedging: Financial strategy to reduce risk exposure from market fluctuations, often through diversification
• Safe-Haven Asset: An asset expected to retain or increase in value during times of market turbulence
• Geopolitical Risks: Political events such as wars, elections, or sanctions that can affect global markets

Tabular Summary:

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6. Who among the following was recently inducted into the World Bank’s Private Sector Investment Lab to promote private investment and job creation?
A) Ratan Tata
B) Uday Kotak
C) Sunil Bharti Mittal
D) Mukesh Ambani
E) Natarajan Chandrasekaran
Answer: C) Sunil Bharti Mittal

Event and Location:

• Event: Induction of Sunil Bharti Mittal into the Private Sector Investment Lab (PSIL)
• Location: Global initiative launched by the World Bank Group, April 24, 2025

Mandates and Objectives:

• Primary Goal: Stimulate private sector investment in emerging and developing economies
• Key Development Focus: Promote job creation as a major pillar of economic progress
• Strategic Sectors: Facilitate investment in energy, healthcare, infrastructure, tourism, and agribusiness
• Barrier Reduction: Address financial and regulatory challenges in high-risk investment markets
• Collaborative Vision: Partner with global leaders and institutions to scale up impact and innovation

Important Terms Explained:

• Private Sector Investment Lab (PSIL): An initiative by the World Bank Group launched in 2023 to mobilize private capital for development in emerging markets
• Political Risk Insurance: A form of protection for investors against losses due to political instability or government actions in foreign countries
• Junior Equity Capital: A form of high-risk investment capital that ranks below senior debt but is crucial for early-stage project financing
• Securitisation: The process of pooling various financial assets to create marketable securities, enhancing liquidity and capital flow
• Frontier Opportunities Fund: A World Bank initiative to promote early-stage investment in underserved, high-risk markets
• Shriti Vadera: Chairperson of Prudential plc, also chairing the PSIL

Tabular Summary:

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7. At what level did the Indian Rupee peak against the US Dollar on May 2, 2025, reaching a 6-month high?
A) ₹84.51/$
B) ₹85.38/$
C) ₹84.04/$
D) ₹83.78/$
E) ₹83.30/$
Answer: D) ₹83.78/$

Event and Location:

• Event: Indian Rupee hits 6-month high against the US Dollar, erasing 2025 losses
• Location: Mumbai, India
• Date: May 2, 2025

Mandates and Objectives:

• Rupee Surge: The Indian Rupee strengthened to ₹83.78/$, driven by renewed foreign inflows and RBI’s dollar-buying intervention
• Market Objective: Stabilize the currency amid global volatility, and support macroeconomic sentiment
• Bond Auction Objective: RBI issues a fresh 10-year government bond to replace the existing benchmark security

Important Terms Explained:

• FPI (Foreign Portfolio Investment): Inflow of funds from foreign investors into Indian equities and bonds, supporting rupee strength
• Bond Yield: The effective interest rate on a government bond; inverse relationship with bond prices
• RBI Intervention: Central bank buying or selling foreign currency in the open market to stabilize the rupee
• Benchmark Bond: A standard government security used to gauge market interest rates
• 10-Year Bond Coupon: The interest paid annually; 6.33% for the new bond issued on May 2, 2025

Tabular Summary:

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8. According to an RBI panel, until what time has it proposed extending trading hours for the interbank call money market?
A) 5:00 PM
B) 6:00 PM
C) 7:00 PM
D) 4:00 PM
E) 8:00 PM
Answer: C) 7:00 PM

Event and Location:

• Event: RBI panel recommends extension of interbank call money market hours
• Location: Mumbai, India
• Date: Reported on May 3, 2025

Mandates and Objectives:

• Call Market Hours: Extend call money market trading hours till 7:00 PM to improve fund availability amid 24×7 cash withdrawal systems
• Liquidity Management: Address banks’ concerns about parking surplus funds when SDF and deposit windows are unavailable
• Unified Framework: Propose unifying the trading hours of the call market and TREPS (currently ending at 4:00 PM and 3:00 PM respectively)
• Repo Market Efficiency: Enhance coordination with repo rate and liquidity operations under RBI’s monetary policy framework

Important Terms Explained:

• Call Money Market: An overnight money market where banks lend and borrow short-term funds to maintain liquidity and meet CRR requirements
• SDF (Standing Deposit Facility): RBI tool to absorb excess liquidity from banks without giving collateral
• TREPS (Triparty Repo Dealing System): RBI-regulated platform for repo transactions involving government securities, often used by mutual funds
• MSF (Marginal Standing Facility): A window for banks to borrow overnight funds from RBI in emergencies
• RTGS (Real-Time Gross Settlement): Instant interbank settlement system for large-value transactions

Tabular Summary:

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9. What was the percentage drop in State Bank of India’s Q4 net profit for FY25 due to high provisioning?
A) 7%
B) 12%
C) 10%
D) 5%
E) 15%
Answer: C) 10%

Event and Location:

• Event: SBI Q4 FY25 results show a 10% decline in net profit due to higher provisioning
• Location: Mumbai, India

Mandates and Objectives:

• Profit Performance: SBI reported Q4 net profit of ₹18,643 crore, a 10% YoY decline due to legacy account provisioning
• Provisioning Pressure: Loan-loss provisions rose 20% to ₹3,964 crore, impacting bottom line
• NIM Outlook: Net interest margin (NIM) contracted by 30 basis points YoY, expected to face continued pressure due to likely rate cuts
• Loan Growth Forecast: SBI expects flat credit growth in FY26, citing delayed deposit repricing
• Dividend: SBI announced a dividend of ₹15.90/share for shareholders

Important Terms Explained:

• Provisioning: Setting aside funds to cover potential loan losses; higher provisioning reduces profit
• Net Interest Margin (NIM): Difference between interest earned and interest paid, expressed as a percentage of interest-earning assets
• Loan-Loss Provision: Funds set aside to cover non-performing or bad loans
  PAT (Profit After Tax): Final profit figure after accounting for taxes

Tabular Summary:

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Business and Economy – Daily Current Affairs May 03 & 04

10. According to the RBI’s report released in May 2025, what was India’s total export value in FY 2024–25, setting a new national record?
A) US$741.5 billion
B) US$778.1 billion
C) US$824.9 billion
D) US$901.2 billion
E) US$695.4 billion
Answer: C) US$824.9 billion

Event and Location:

• Event: Release of trade data confirming record-high exports for FY 2024–25
• Location: Published by the Reserve Bank of India (RBI), India

Mandates and Objectives:

• Export Expansion: Achieve higher foreign exchange reserves through robust export growth
• Diversification: Promote non-oil merchandise exports and services sector as key revenue streams
• Strategic Vision: Align trade growth with Atmanirbhar Bharat, Foreign Trade Policy 2023, and Make in India
• Economic Empowerment: Boost sectors such as IT, consulting, finance, and R&D under Digital India and Startup India
• Resilience: Strengthen India’s global trade position amid economic uncertainties and inflationary pressures

Important Terms Explained:

• Reserve Bank of India (RBI): India’s central banking institution, overseeing monetary policy, currency issuance, and financial stability
• Services Exports: Sale of intangible products like IT, financial, consulting, and business services to foreign entities
• Merchandise Exports (Non-Oil): Tangible goods exported excluding petroleum-based products
• Atmanirbhar Bharat: A national initiative promoting self-reliance through local manufacturing and reduced import dependence
• Foreign Trade Policy 2023: Government framework targeting US$2 trillion in exports by 2030, emphasizing digitization and innovation
• Production-Linked Incentive (PLI) Scheme: Government initiative to boost domestic production and exports in key sectors

Tabular Summary:

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11. What was India’s coal production from captive and commercial mines in April 2025, marking the start of FY 2025–26?
A) 11.23 million tonnes
B) 18.02 million tonnes
C) 14.01 million tonnes
D) 12.78 million tonnes
E) 16.81 million tonnes
Answer: C) 14.01 million tonnes

Event and Location:

• Event: Surge in coal production and dispatch at the start of FY 2025–26
• Location: India’s captive and commercial coal mines monitored by the Ministry of Coal

Mandates and Objectives:

• Production Boost: Increase output from captive and commercial coal blocks to meet rising energy demand
• Import Reduction: Lower reliance on coal imports to strengthen economic and energy resilience
• Operational Acceleration: Enable fast-track clearance of coal blocks and improve infrastructure
• Energy Security: Ensure steady supply of coal for power and industrial sectors under Atmanirbhar Bharat

Important Terms Explained:

• Captive Coal Mines: Mines allocated to specific industries (steel, cement, power) for internal consumption
• Commercial Coal Mining: Policy allowing private companies to mine coal for sale in the open market
• PRC (Peak Rated Capacity): The maximum approved output of a coal mine annually
• Kotre Basantpur Pachmo Block (CCL): A newly operational mine under Central Coalfields Ltd with 5 MT/annum capacity
• Naini Coal Block (SCCL): Operationalized under Singareni Collieries Co. Ltd, with a PRC of 10 MT/annum
• Atmanirbhar Bharat: National initiative for self-reliance, particularly in strategic sectors like energy

Tabular Summary:

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12. What is the revised FY26 economic growth forecast for India according to S&P Global Ratings?
A) 6.8%
B) 6.5%
C) 6.2%
D) 6.3%
E) 5.9%
Answer: D) 6.3%

Event and Location:

• Event: S&P Global Ratings cuts India’s FY26 GDP growth forecast
• Location: New Delhi, India

Mandates and Objectives:

• Forecast Revision: S&P revised India’s FY26 GDP growth forecast down to 6.3% from an earlier estimate of 6.5%
• Cause of Revision: Ongoing economic uncertainty due to US-imposed tariffs, especially those affecting Indian exports
• Comparative Context: S&P’s new projection is lower than RBI’s estimate (6.5%) and IMF’s revised forecast (6.2%)
• Regional Outlook: Weak demand and increased tariffs expected to affect overall Asia-Pacific economic environment

Important Terms Explained:

• S&P Global Ratings: A major international credit rating agency that evaluates countries’ and companies’ financial health and economic prospects
• GDP (Gross Domestic Product): The total value of all goods and services produced in a country during a specific period
• US Tariffs: Taxes imposed by the United States on imports from other countries; used for economic protection and negotiation leverage
• Bilateral Trade Agreement (BTA): A trade deal between two countries aimed at reducing trade barriers and encouraging economic cooperation

Tabular Summary:

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Appointments – Daily Current Affairs May 03 & 04

13. Which legendary Indian cricketer has been appointed brand ambassador of SoBo Mumbai Falcons for the T20 Mumbai League 2025?
A) Sunil Gavaskar
B) Kapil Dev
C) Sachin Tendulkar
D) Rahul Dravid
E) Virender Sehwag
Answer: B) Kapil Dev

Event and Location:

• Event: Kapil Dev appointed as Brand Ambassador of SoBo Mumbai Falcons
• Location: T20 Mumbai League 2025, Wankhede Stadium, Mumbai

Mandates and Objectives:

• Promotion Role: Amplify team image and brand presence through association with a cricket legend
• Fan Engagement: Inspire young cricketers and deepen audience connection with the SoBo Mumbai Falcons
• Credibility Addition: Boost the prestige and seriousness of the T20 Mumbai League through iconic representation
• Local Cricket Ecosystem: Strengthen domestic cricket visibility in Mumbai and Maharashtra

Important Terms Explained:

• Brand Ambassador: A public figure who represents and promotes a brand or organization, enhancing visibility and credibility
• T20 Mumbai League: A regional Twenty20 cricket league aimed at showcasing local talent and boosting Maharashtra’s cricketing culture
• SoBo Mumbai Falcons: A new franchise team making its debut in the 2025 edition of the T20 Mumbai League
• Wankhede Stadium: One of India’s most iconic cricket stadiums, located in Mumbai and known for hosting high-profile matches

Tabular Summary:

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14. Who has been appointed as the new Vice Chief of the Air Staff of the Indian Air Force as of May 2, 2025?
A) Air Marshal Raghunath Nambiar
B) Air Marshal Narmdeshwar Tiwari
C) Air Marshal Vivek Ram Chaudhari
D) Air Marshal Sandeep Singh
E) Air Marshal Harjit Singh Arora
Answer: B) Air Marshal Narmdeshwar Tiwari

Event and Location:

• Event: Appointment of Air Marshal Narmdeshwar Tiwari as Vice Chief of the Air Staff
• Location: Indian Air Force Headquarters, New Delhi
• Date: May 2, 2025

Mandates and Objectives:

• Leadership Role: Provide strategic direction to the Indian Air Force’s modernization and readiness
• Operational Expertise: Leverage over 3600 hours of flying and flight test experience for indigenous aircraft development
• Defense Diplomacy: Strengthen international military ties through prior diplomatic experience
• Strategic Focus: Drive initiatives in indigenization, combat preparedness, and advanced air warfare capabilities

Important Terms Explained:

• Vice Chief of the Air Staff (VCAS): The second-highest-ranking officer in the Indian Air Force, responsible for overall operational preparedness and modernization strategy
• PVSM (Param Vishisht Seva Medal): Awarded for distinguished service of the most exceptional order
• AVSM (Ati Vishisht Seva Medal): Awarded for distinguished service of an exceptional order
• VM (Vayu Sena Medal): Awarded for exceptional devotion to duty or acts of courage in the Air Force
• Litening Pod: A targeting system that enhances precision-guided strikes, first used operationally during the Kargil War
• LCA Tejas: India’s indigenously developed Light Combat Aircraft, with Air Marshal Tiwari instrumental in achieving Final Operational Clearance (FOC)

Tabular Summary:

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Defence – Daily Current Affairs May 03 & 04

15. Which indigenous military helicopter, grounded after a fatal crash, was cleared for use by the Army and Air Force in May 2025?
A) Rudra
B) Prachand
C) Dhruv
D) Chetak
E) Tejas
Answer: C) Dhruv

Event and Location:

• Event: Clearance of the Advanced Light Helicopter (ALH) Dhruv for Army and Air Force use
• Location: Clearance granted after crash probe, HAL Headquarters, Bengaluru; crash occurred in Porbandar, Gujarat

Mandates and Objectives:

• Crash Response: Grounded all ALH Dhruvs after fatal crash of a Coast Guard variant on January 5, 2025
• Investigation Findings: Clearance granted based on the Defect Investigation Committee’s recommendations
• Operational Priority: Ensure safety and airworthiness of Dhruv helicopters for resumption in military roles
• Deployment Need: Resume usage in counterterror operations, especially post-Pahalgam terror incident
• Stakeholder Coordination: HAL and defence forces coordinated a time-bound resumption plan

Important Terms Explained:

• Advanced Light Helicopter (ALH) Dhruv: An indigenous multi-role helicopter developed by Hindustan Aeronautics Limited (HAL) for military and civilian use
• Defect Investigation Committee: A special investigative panel formed to examine technical issues following the crash, advising operational clearance based on findings
• Sarang Helicopter Display Team: Indian Air Force’s helicopter aerobatics team, which uses ALH Dhruv helicopters for aerial performances
• Grounding: The precautionary suspension of flight operations of a particular aircraft type due to safety concerns

Tabular Summary:

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International Affairs – Daily Current Affairs May 03 & 04

16. Which two countries renewed a Memorandum of Understanding in May 2025 to enhance cooperation in clean energy and support India’s net-zero goals?
A) India and Norway
B) India and Denmark
C) India and Sweden
D) India and Germany
E) India and Netherlands
Answer: B) India and Denmark

Event and Location:

• Event: Signing of a renewed MoU between India and Denmark on clean energy cooperation
• Location: New Delhi, India
• Date: May 2, 2025

Mandates and Objectives:

• Net-Zero Target: Support India’s commitment to achieve net-zero emissions by 2070
• Energy Cooperation: Advance joint efforts in renewable energy, power system modeling, and electric vehicle (EV) infrastructure
• Knowledge Sharing: Facilitate training sessions, study tours, and expert interactions
• Sustainability Goal: Accelerate the shift to clean energy through international collaboration and technology sharing

Important Terms Explained:

• Net-Zero Emissions: A climate goal where greenhouse gas emissions produced are balanced by an equivalent amount being removed from the atmosphere
• MoU (Memorandum of Understanding): A formal agreement between two or more parties outlining mutual goals and collaboration areas
• Power System Modeling: Simulation tools used to analyze, plan, and optimize electricity grids with increasing renewable sources
• Renewable Energy Integration: Incorporation of solar, wind, and other non-fossil fuel sources into national power systems
• EV Charging Infrastructure: Network of stations and technologies enabling widespread use of electric vehicles
• Cross-border Electricity Trading: Exchange of electricity between neighboring countries to optimize resource use and stability

Tabular Summary:

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17. What is the name of the new global initiative launched by FAO in 2025 to strengthen monitoring and reporting for ecosystem restoration?
A) RestoreEarth
B) NatureNet
C) AIM4NatuRe
D) EcoTrack
E) GreenFramework
Answer: C) AIM4NatuRe

Event and Location:

• Event: Launch of AIM4NatuRe (Accelerating Innovative Monitoring for Nature Restoration) initiative
• Location: Global initiative led by the Food and Agriculture Organization (FAO) of the United Nations
• Date: Launched in 2025 with implementation spanning 2025–2028

Mandates and Objectives:

• Monitoring Capability: Strengthen global ecosystem monitoring and reporting capacity
• Biodiversity Target: Help countries meet Target 2 of the Global Biodiversity Framework — restore at least 30% of degraded ecosystems by 2030
• Data Collection: Promote the use of standardized and interoperable data frameworks for restoration tracking
• Inclusivity: Encourage Indigenous-led and biocentric restoration practices
• Technology Use: Leverage cutting-edge digital tools and global collaboration for transparency and accountability

Important Terms Explained:

• AIM4NatuRe: A global FAO-led programme to enhance monitoring of nature restoration across multiple ecosystems
• FAO (Food and Agriculture Organization): A UN agency that leads global efforts to defeat hunger, improve agriculture, and ensure environmental sustainability
• FERM (Framework for Ecosystem Restoration Monitoring): A standardized digital platform used by countries to report and track ecosystem restoration efforts
• Global Biodiversity Framework (GBF): An international agreement adopted at COP15 under the Convention on Biological Diversity, aiming to protect and restore biodiversity
• Target 2 (GBF): Goal to restore at least 30% of degraded ecosystems globally by 2030

Tabular Summary:

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18. India recently played a key role in completing which component of the ITER nuclear fusion project?
A) Tokamak Shield
B) Plasma Injector
C) Cryostat and Magnet System
D) Control Rod Array
E) Electron Beam Core
Answer: C) Cryostat and Magnet System

Event and Location:

• Event: India contributes to the completion of the Central Solenoid magnet system for the ITER project
• Location: Cadarache, Southern France — the official site of the ITER reactor

Mandates and Objectives:

• Project Goal: Demonstrate the industrial feasibility of fusion energy—a clean, carbon-free power source
• India’s Objective: Contribute critical technologies like the cryostat and cooling systems for global clean energy collaboration
• Global Aim: Produce 500 MW of fusion energy from a 50 MW input—representing a 10-fold energy gain
• Fusion Vision: Enable development of future commercial fusion reactors and achieve self-sustaining “burning plasma”

Important Terms Explained:

• ITER (International Thermonuclear Experimental Reactor):
  • A global nuclear fusion research project involving 7 core member nations, aiming to replicate the energy process of the sun on Earth
• Cryostat:
  • A massive stainless steel chamber (30m high and wide) designed and built by India to house the Tokamak and maintain ultra-cold temperatures for superconducting magnets
• Central Solenoid:
  • The electromagnetic heart of ITER—controls and stabilizes the plasma inside the reactor; powerful enough to lift an aircraft carrier
• Cryolines:
  • Helium-carrying conduits that cool magnets to −269°C, essential for superconductivity in fusion reactors
• Burning Plasma:
  • A state where fusion reactions become self-sustaining—crucial for commercial power generation in the future

Tabular Summary:

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19. According to the newly proposed US budget plan under President Donald Trump, how much non-defence discretionary spending is set to be cut?
A) $120 billion
B) $145 billion
C) $163 billion
D) $89 billion
E) $110 billion
Answer: C) $163 billion

Event and Location:

• Event: Trump administration proposes $163 billion cut in US federal budget for non-defence discretionary spending
• Location: Washington, D.C., United States
• Date: Budget proposal announced on May 2, 2025

Mandates and Objectives:

• Budget Cut Focus: Slash non-defence discretionary spending (e.g., education, housing, IRS, foreign aid)
• Spending Priorities: Boost defence and border security; reduce expenditure on domestic agencies
• Debt Management: Address rising interest payments and reduce budget deficit by cutting 23% from discretionary spending—the lowest since 2017
• Tax Reform: Extend 2017 Trump-era tax cuts, reduce taxes for individuals and businesses

Important Terms Explained:

• Non-defence Discretionary Spending: Federal spending on programs not related to military or mandatory entitlements (e.g., education, housing, science)
• OMB (Office of Management and Budget): The White House agency responsible for drafting the annual federal budget
• Skinny Budget: A preliminary budget outline that reflects core priorities before full details are released
• Internal Revenue Service (IRS): The US federal agency responsible for tax collection and enforcement
• 13% Boost in Defence Spending: Proposed increase in discretionary defence budget as part of national security focus

Tabular Summary:

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National Affairs – Daily Current Affairs May 03 & 04

20. Which major infrastructure project was inaugurated by PM Narendra Modi on May 2, 2025, aiming to boost India’s maritime trade capacity?
A) Paradip Smart Port
B) Chennai Gateway Terminal
C) Vizhinjam International Seaport
D) Kandla Mega Trade Port
E) Mumbai Coastal Trade Hub
Answer: C) Vizhinjam International Seaport

Event and Location:

• Event: Inauguration of the Vizhinjam International Deepwater Multipurpose Seaport by PM Narendra Modi
• Location: Vizhinjam, Thiruvananthapuram, Kerala

Mandates and Objectives:

• Primary Aim: Reduce India’s transshipment dependency on foreign ports (currently at 75%)
• Trade Focus: Boost India’s share in global maritime trade through deepwater port access
• Strategic Integration: Become a key node in the India-Middle East-Europe Economic Corridor (IMEEC)
• Economic Development: Stimulate employment, MSMEs, tourism, and fisheries in Kerala
• Infrastructure Synergy: Align with Sagarmala, PM-Gati Shakti, and Maritime Amrit Kaal Vision 2047

Important Terms Explained:

• Transshipment Port: A port where cargo is transferred from one ship to another for onward shipment
• Sagarmala Project: A flagship program to modernize India’s ports and coastline to boost logistics efficiency
• PM-Gati Shakti: A multimodal infrastructure masterplan integrating road, rail, air, and sea for faster project delivery
• Maritime Amrit Kaal Vision 2047: India’s long-term maritime development blueprint aiming to transform India into a global shipping hub
• Public-Private Partnership (PPP): A collaborative investment model between government and private entities for infrastructure development
• India-Middle East-Europe Economic Corridor (IMEEC): A proposed economic corridor to enhance connectivity and trade among India, the Middle East, and Europe

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21. What is the name of the report released by NITI Aayog in May 2025 that outlines strategies to boost MSME competitiveness in India?
A) MSME Growth Strategy 2047
B) Empowering Small Enterprises in India
C) Enhancing Competitiveness of MSMEs in India
D) India MSME Innovation Blueprint
E) Digital India for MSMEs
Answer: C) Enhancing Competitiveness of MSMEs in India

Event and Location:

• Event: Release of the report “Enhancing Competitiveness of MSMEs in India”
• Location: Published by NITI Aayog in collaboration with the Institute for Competitiveness (IFC) on May 2, 2025

Mandates and Objectives:

• Primary Goal: Strengthen the MSME sector through structural reforms
• Credit Access: Address the credit gap through reform of CGTMSE and scalable financial solutions
• Skill Enhancement: Promote vocational training and capacity-building in R&D and innovation
• Technology Adoption: Facilitate digital tools, internet access, and electricity reliability for competitiveness
• Market Access: Enable digital marketing, logistics partnerships, and global integration for MSMEs
• Regional Focus: Target support toward northeastern and eastern regions with high growth potential

Important Terms Explained:

• MSMEs (Micro, Small, and Medium Enterprises): Vital contributors to employment and GDP, often constrained by access to finance, technology, and skilled labor
• CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises): Government-backed scheme to provide collateral-free credit to MSMEs
• Institute for Competitiveness (IFC): Policy think tank that partners with institutions to enhance business strategy and public sector outcomes
• Cluster-Based Policy Framework: A localized, sector-specific policy model that promotes collaborative innovation and economies of scale

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22. According to NITI Aayog Vice Chairman Suman Bery, which sector must take the lead in accelerating India’s economic growth due to limited fiscal space?
A) Agriculture sector
B) Private sector
C) Public sector
D) MSME sector
E) Banking sector
Answer: B) Private sector

Event and Location:

• Event: NITI Aayog Vice Chairman stresses on raising productivity and private investment to accelerate economic growth
• Location: New Delhi, India
• Occasion: Address at Ashoka University’s India Growth Conference, organized by Centre for Public Policy (ISPP)

Mandates and Objectives:

• Viksit Bharat Vision: Achieve the goal of making India a developed nation by 2047
• Growth Strategy: Drive growth through enhanced private investment, supply-side reforms, and productivity improvement
• Policy Shift: Urge simplification of tax regulations, boosting ease of doing business, and sector-specific policy actions
• Fiscal Limitation: Highlighted that public spending capacity is limited, hence private sector must lead investment-driven growth
• Targeted Reforms: Emphasize on sectoral productivity gains, technological transformation, and labour market integration

Important Terms Explained:

• Viksit Bharat Mission: India’s long-term strategic vision to become a developed economy by 2047, marking 100 years of independence
• Supply-Side Reforms: Economic policies aimed at boosting production capacity by removing regulatory barriers, improving infrastructure, and enhancing labour skills
• Marginal Efficiency of Capital: Economic concept referring to the expected profitability of an additional unit of capital investment
• Labour Force Participation Rate (LFPR): Percentage of the working-age population that is either employed or actively seeking employment

Tabular Summary:

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Over All Review

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