Daily Current Affairs 1st March 2025: Your guide for daily General Knowledge Preparation
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This post contains daily current affairs 1st March 2025. It includes all National, International, Business & Sports related current affairs 1st March 2025. A brief explanation of every current affair is provided to further enhance your general knowledge. Once you have gone through these current affairs we would recommend to you to try 1st March, 2025 Current affairs test.
National News
Aadhaar Authentication Process Streamlined with New Governance Portal
- The Indian government has launched a new Aadhaar Governance Portal (http://swik.meity.gov.in) to simplify the approval process for Aadhaar authentication requests.
- The initiative was introduced by the Ministry of Electronics and Information Technology following amendments to the Aadhaar Authentication for Good Governance (Social Welfare, Innovation, Knowledge) Rules, 2025 under the Aadhaar Act, 2016.
- The primary goal of the new system is to enhance governance, improve service delivery, and streamline authentication processes for citizens.
Centre Proposes Reduction in States’ Share of Central Taxes from 2026
- The Union government is considering a reduction in the share of central tax revenues allocated to states, which is currently 41%, potentially lowering it to 40% or less.
- The Finance Commission of India, chaired by economist Arvind Panagariya, will submit its recommendations by October 31, 2025.
- The proposal, if approved, will be implemented from the fiscal year 2026-27.
- This move aims to address the Union government’s growing expenditure requirements but may increase tensions between the Centre and state governments.
- Additionally, the government plans to impose conditions on revenue-deficit grants, aiming to restrict freebies and debt waivers by state governments.
International News
U.S.-Ukraine Relations Escalate as Trump and Vance Criticize Zelensky in a Heated Oval Office Meeting
- Relations between the United States and Ukraine took a dramatic turn as President Donald Trump and Vice President JD Vance publicly criticized Ukrainian President Volodymyr Zelensky during a highly televised Oval Office meeting.
- The meeting was initially planned to discuss peace negotiations in Ukraine’s ongoing conflict with Russia.
- However, the discussion escalated into an unprecedented public confrontation, making it one of the most contentious exchanges between a U.S. president and a foreign leader in recent history.
Business News
YES Bank Collaborates with World Trade Center Mumbai to Promote Small Business Growth
- YES Bank, India’s sixth-largest private sector bank, partnered with the World Trade Center Mumbai to host the Export Conclave 2025 at YES BANK House.
- The event brought together over 100 exporters, industry experts, and government officials to discuss:
- Emerging trade trends, Global opportunities, Challenges in the export sector
EPFO Retains 8.25% Interest Rate on Employees Provident Fund for 2024-25
- The Employees’ Provident Fund Organisation has maintained the interest rate on EPF deposits at 8.25% for the financial year 2024-25.
- In February 2024, the EPFO had increased the rate to 8.25% from 8.15% (2022-23).
- Previously, the interest rate had been reduced to a four-decade low of 8.1% in 2021-22, down from 8.5% in 2020-21.
- The last time the rate was this low was in 1977-78, when it stood at 8%.
Appointments News
Tuhin Kanta Pandey Appointed as New SEBI Chairman
- Tuhin Kanta Pandey has been appointed as the Chairman of the Securities and Exchange Board of India for a tenure of three years.
- His appointment was approved by the Appointments Committee of the Cabinet.
- Notably, Madhabi Puri Buch, his predecessor, was the first woman to serve as SEBI’s chairperson and completed a full three-year term.
Science & Technology News
Amazon Introduces ‘Ocelot’ – Its First Quantum Computing Chip
- Amazon Web Services has unveiled its first-generation quantum computing chip, named Ocelot.
- The company claims that the new chip can reduce the cost of quantum error correction by up to 90%.
- This development signifies a major step forward in quantum computing technology.
Defence News
Indian Army Signs Contract with L&T for Critical CBRN Defence Equipment
- The Indian Army has entered into an agreement with Larsen & Toubro to procure 223 Automatic Chemical Agent Detection and Alarm systems.
- The deal, valued at ₹80.43 crore, falls under the Buy Indian Indigenously Designed, Developed, and Manufactured category.
- These systems will enhance chemical, biological, radiological, and nuclear defence capabilities of the armed forces.
Economy News
India’s Economic Growth in Q3 of FY 2024-25 Shows Strong Performance
- India’s Real GDP growth in the third quarter of FY 2024-25 rose to 6.2%, an increase from 5.4% in the previous quarter.
- Projections for the full 2024-25 financial year suggest a Real GDP growth rate of 6.5%.
- The Nominal GDP growth is expected to reach 9.9%, reflecting a strong economic outlook.
- These estimates were revised upwards from the First Advance Estimates, indicating sustained economic progress.
Important Days
World Seagrass Day 2025: Significance, History, and Conservation Efforts
- World Seagrass Day is observed annually on March 1 to highlight the ecological importance of seagrass and encourage conservation efforts.
- Supporting marine biodiversity, Stabilizing coastlines, Acting as a major carbon sink
- The United Nations General Assembly officially declared this day on May 22, 2022, following a proposal by Sri Lanka to promote global awareness of seagrass conservation.
Zero Discrimination Day 2025 – March 1
- Zero Discrimination Day is observed annually on March 1 to promote equality, dignity, and inclusion for all individuals.
- This initiative was launched by UNAIDS in 2014 to combat stigma and discrimination, particularly affecting marginalized communities.
Obituary News
Boris Spassky, Chess Grandmaster and Former World Champion, Passes Away at 88
- Boris Spassky, the tenth World Chess Champion, has passed away at the age of 88.
- Born in 1937 in Leningrad (now Saint Petersburg, Russia), he was recognized as a chess prodigy from a young age.
- He gained global fame for his historic match against Bobby Fischer in 1972, known as the Match of the Century.
