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CURRENT AFFAIRS : BANKING & FINANCE

Markets regulator Securities and Exchange Board of India Chief Rejects Aptitude Test for Retail F&O Traders, Cites Strong Existing Safeguards Against Fraud  

• Securities and Exchange Board of India (SEBI) Chief Tuhin Kanta Pandey ruled out the possibility of introducing an aptitude test for retail traders before they can trade in the Futures & Options (F&O)
• The reasoning behind this decision is based on concerns about practicality and regulatory overreach.

Key Highlights :

• Regulatory Measures for Speculation in Derivatives:InNovember 2023, Sebi introduced measures to curb excessive speculation in derivatives.
• A Sebi study found that 9 out of 10 retail investors lose money while trading in F&O instruments.
• Certification Mechanisms for Specific Market Participants:Sebi has certification mechanisms for certain market participants, such as NISM certification for advisors and registered participants.
• Individual Responsibility and Autonomy:Sebi emphasizes that individuals should have the autonomy to manage their finances and should not be restricted by unnecessary tests or regulations.
• There is a strong belief in individual choice, with people encouraged to make their own investment decisions, including trading in F&O products.
• Leverage and Risk Management:Sebidiscourages the use of leverage for trading, citing the high-risk nature of leveraged products.
• The regulator does not allow leverage buyouts or leveraged trading in Alternative Investment Funds (AIF).
• Checks and Balances in the Financial System:Sebi Chairman highlighted that there are sufficient checks and balances in place to tackle frauds in the financial system.
• The exchanges act as the first line of defense, with extensive disclosures and auditing happening regularly.
• Addressing Insider Trading and Fraud:Sebi takes insider trading seriously and acts promptly when violations are detected.
• The regulator focuses on building a watertight case to ensure legal challenges are successfully addressed.

About SEBI :

• Founded : April 12, 1988
• Headquarters : Mumbai, Maharashtra
• Chairman :Tuhin Kanta Pandey
• Parent Department : Ministry of Finance

Deloitte Projects India’s FY25 GDP Growth at 6.5–6.7% Backed by Tax Incentives and Strong Domestic Demand

• Deloitte has projected India's GDP growth at 6.5-6.7% for the current fiscal year (2025), driven by tax incentives and domestic demand growth, despite an uncertain global trade environment.
• For FY26, Deloitte estimates India's GDP growth at 6.3-6.5%.
• The outlook depends on a balance between trade relations and efforts to boost domestic consumer demand.

Key Highlights :

• Two Opposing Forces Impacting Growth:

1. Positive Impact: The tax incentives introduced in the Union Budget 2025, expected to stimulate consumer spending and increase disposable income.
2. Negative Impact: The uncertainty in global trade, particularly with regard to potential changes in trade relations and tariffs.

• Tax Incentive: The FY26 Budget includes a tax incentive of Rs 1 lakh crore, benefiting the middle class.
• The increase in disposable income, especially among the young population, is expected to boost domestic demand.
• Trade Uncertainties: Deloitte highlighted potential risks from bilateral trade agreements, especially with the US.
• The impact on growth could range from a 0.1% to 0.3% decline in GDP growth due to higher tariffs if trade negotiations with the US result in less favorable terms.
• Potential Bilateral Agreement with the US: A bilateral trade agreement between India and the US by fall 2025 could open up new opportunities and help India tap into the US market, mitigating some of the negative impacts of global trade uncertainties.

CURRENT AFFAIRS: NATIONAL NEWS

India Champions Global Chemical & Waste Governance at BRS COPs 2025

• India reaffirmed its leadership in environmental governance at the BRS COPs 2025 in Geneva, held from 30th April to 1st May.
• Led by Union Environment Minister Bhupender Yadav, India highlighted its regulatory framework and advocated for technology transfer, finance access, and global action on plastic pollution.

Key Highlights

• Conference Theme: “Make visible the invisible: Sound management of chemicals and wastes”
  ● India’s Representation: Minister Bhupender Yadav led the Indian delegation, reinforcing commitment to multilateral agreements.
  ● Legislative Framework Promoted:

• Environment (Protection) Act
• Hazardous and Other Wastes Rules
• E-Waste Management Rules, 2016
  ●Focus Areas:
• Sound chemical and waste management
• Capacity-building and financial access for developing nations
• Technology transfer for environmental solutions
  ● Bilateral Engagements:
• Consultations with Norway on the Intergovernmental Negotiating Committee (INC) for plastic pollution
• Bilateral meeting with Switzerland’s Katrin Schneeberger on a legally binding treaty on plastic pollution
  ● Domestic Initiatives Highlighted:
• Ban on single-use plastics
• Implementation of Extended Producer Responsibility (EPR)
• India’s proposal of UNEA-4 resolution on single-use plastics

Static Information:

• Basel Convention (1989): Controls hazardous waste movement and disposal
• Rotterdam Convention (1998): Requires prior informed consent for hazardous chemicals
• Stockholm Convention (2001): Targets elimination of persistent organic pollutants (POPs)
• UNEA: United Nations Environment Assembly
• Venue: Geneva, Switzerland

Amit Shah Unveils Statue of Bodofa Upendranath Brahma in New Delhi

• Union Home Minister Amit Shah unveiled a 9-feet statue of Bodofa Upendranath Brahma in New Delhi.
• A road and rotary were also named after him to commemorate his 35th death anniversary.
• Brahma was a respected Bodo leader known for his peaceful struggle for tribal rights and identity.

Key Highlights

• To honour Bodofa’s peaceful leadership and contribution to the Bodo and tribal communities.
• To recognize the importance of tribal identity and leadership in national development.
• To promote integration by acknowledging regional leaders who made a national impact.
• Upendranath Brahma (1956–1990) served as President of the All Bodo Students’ Union (ABSU).
• He led a non-violent movement for a separate Bodoland and the rights of the Bodo people.
• Revered as “Bodofa” or “Father of the Bodos”.

About Bodo:

• Bodoland is an autonomous region within Assam under the Bodoland Territorial Region (BTR).
• The traditional Bodo religion is Bathou, centred around worship of the Sijou plant.
• The 2020 Bodo Accord aimed to bring peace and development to Bodo-inhabited areas.

CURRENT AFFAIRS: STATE NEWS

Madhya Pradesh Launches India’s First AI-Based Real-Time Forest Alert System

• Madhya Pradesh becomes the first Indian state to launch an AI-based real-time forest monitoring system.
• The system uses a combination of satellite data, AI algorithms, and mobile field reports to detect deforestation, land encroachment, and land use changes.
• It is currently being piloted in five forest divisions: Shivpuri, Guna, Vidisha, Burhanpur, and Khandwa.

Key Features and Impact of the Forest Alert System

• Real-Time Alerts: Generated from satellite imagery and sent directly to forest officers for verification and rapid action.
• AI and Machine Learning: Improves accuracy of alerts using ongoing feedback from ground teams.
• Detailed Alerts: Each notification includes GPS-tagged images, voice notes, and mobile app-based survey inputs.
• Conservation Boost: Enables swift detection and prevention of illegal logging and encroachment, strengthening sustainable forest governance.
• Technology Backbone: Powered by Google Earth Engine and customized AI models tailored to forest monitoring.
• The initiative sets a national precedent for integrating tech-driven forest conservation strategies.

Recent news

• In a major step to support the agricultural community in Madhya Pradesh, Chief Minister Mohan Yadav announced on Sunday, March 3, 2025, that farmers across the state will soon receive permanent power connections for a nominal fee of just Rs 5.
• In February 2025, Madhya Pradesh has taken a major step in India’s economic landscape by introducing the country’s first dedicated Global Capability Centers (GCC) Policy 2025. This initiative aims to attract multinational corporations by creating a strong ecosystem for global innovation and collaboration, particularly in Tier-2 cities like Indore, Bhopal, and Jabalpur.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

N Saravana Kumar Appointed as Vice Chairman of Delhi Development Authority

• Senior IAS officer N Saravana Kumar took charge as the Vice Chairman of Delhi Development Authority (DDA) on May 1, 2024.

Key DDA Initiatives:

• He is expected to play a significant role in key DDA projects, including:
  • Rejuvenation of the Yamuna floodplains
  • In-situ Slum Rehabilitation
  • Development of Narela Sub-city
  • Creation of Centres of Excellence in sports
  • Implementation of the PM-UDAY Scheme

About N Saravana Kumar:

• Kumar is a 2000-batch IAS officer from the Bihar cadre.
• Prior to joining DDA, Kumar served as the Principal Secretary in Bihar’s Department of Food and Consumer Protection.
• Kumar's leadership comes at a pivotal time as the Delhi Master Plan 2041 is being finalized, which will guide the capital’s development over the next two decades.

About DDA:

• Headquarters: New Delhi, India
• Chairman: Vinai Kumar Saxena
• It is a statutory body established under the Delhi Development Act, 1957, under the jurisdiction of the Ministry of Housing and Urban Affairs, Government of India, to "promote and secure the development of Delhi".

Rajiv Anand, Deputy MD of Axis Bank, emerges as top contender for IndusInd Bank CEO position

• Rajiv Anand, Deputy MD of Axis Bank and a frontrunner for the CEO role at IndusInd Bank.
• He has a capital market background and is a Chartered Accountant.
• He has managed retail, wholesale, and derivatives segments.
• Anand is set to retire from Axis Bank on August 3, 2025, but will continue as Non-Executive Chairman of Axis Life Insurance.
• Sumant Kathpalia resigned as Managing Director (MD) and CEO of IndusInd Bank on April 29, 2025.
• Reason: He took moral responsibility for discrepancies in the bank's derivatives portfolio.
• The issue is described as an accounting problem, not a fraud.
• The discrepancies could impact the bank’s balance sheet by ₹2,000 crore.
• Other Key Resignations:Arun Khurana: Deputy CEO and Executive Director (ED) of IndusInd Bank also resigned due to his oversight role in the derivatives trades.
• The Reserve Bank of India (RBI) approved a committee of executives to oversee CEO duties temporarily until a new CEO is appointed.
• IndusInd Bank is seeking leadership with expertise in retail banking, particularly in vehicle finance and micro-loans.

Sanjay Khanna Takes Over as Chairman and Managing Director (CMD) of BPCL After G. Krishnakumar's Tenure Ends on April 30, 2025 

• Sanjay Khanna assumed additional charge as the Chairman and Managing Director (CMD) of BPCL, following the end of Krishnakumar’s tenure on April 30, 2025.
• He was serving as Director (Refineries) at BPCL before taking the additional charge.
• Khanna has previously headed BPCL’s Kochi and Mumbai refineries and played a key role in significant refinery projects.

About Sanjay Khanna:

• Khanna anchored several prestigious projects for setting up new process units in refineries at Mumbai, Kochi, and Numaligarh.
• As Executive Director of Kochi Refinery, he played a key role in commissioning BPCL’s first niche petrochemical project—the Propylene Derivative Petrochemical Project.
• Khanna serves on the boards of Bharat PetroResources Ltd and Ratnagiri Refinery and Petrochemicals Ltd.
• He also chairs the Technical Committee for Petroleum Refineries under the Ministry of Petroleum and Natural Gas (MoPNG).
• BPCL currently accounts for 35 million tonnes of India's total refining capacity of 250 million tonnes per annum.

Former IAS Officer Neeraj Kumar Gupta Appointed as Chairman and Public Interest Director of NSE International Exchange   

• Neeraj Kumar Gupta, a former IAS officer, has been appointed as Chairman and Public Interest Director (PID) of NSE International Exchange (NSE IX).
• The International Financial Services Centres Authority (IFSCA) has approved his appointment to the Governing Board of NSE IX, effective from April 1, 2025.
• Neeraj Kumar Gupta retired as Secretary, Ministry of Finance (Department of Investment & Public Asset Management) in 2018.
• He was re-appointed by the President of India as Central Information Commissioner of India and completed his tenure in 2023.

About NSE International Exchange (NSE IX):

• NSE IX is an international stock exchange set up by the National Stock Exchange of India (NSE).
• It is located at the Gujarat International Finance Tec-City (GIFT City) in Gandhinagar, Gujarat.

India Nominates M. Revathi for Director Role at International Telecommunication Union’s Radiocommunication Bureau

• India has nominated M. Revathi, Joint Wireless Advisor at the Department of Telecommunications (DoT), as its candidate for the Director of the Radiocommunication Bureau at the International Telecommunication Union (ITU).
• This is India’s most significant bid in decades to influence global radio spectrum governance.
• If elected, Revathi would become:Thefirst woman to lead the Radiocommunication Bureau.
• The first representative from ITU Regions E (Asia/Australasia) and D (Africa) to hold this position.
• India’s leadership in global telecom was also highlighted by its successful hosting of the World Telecommunication Standardization Assembly (WTSA) in October 2024 in New Delhi.

About the ITU:

• The International Telecommunication Union (ITU) is a specialized UN agency based in Geneva, Switzerland.
• ITU plays a key role in ensuring that the world’s communication systems work together in a manner that is safe, secure, and fair.
• ITU was established in 1865 and is the oldest agency in the UN family, connecting the world since the invention of the telegraph.
• ITU’s Membership:ITU has a membership of 194 Member States and more than 1,000 companies, universities, and international/regional organizations.
• ITU operates regional offices across every continent.

Air Marshal Nagesh Kapoor Assumes Role as Air Officer Commanding-in-Chief of South Western Air Command (SWAC)

• Air Marshal Nagesh Kapoor took charge as Air Officer Commanding-in-Chief (AOC-in-C) of the South Western Air Command (SWAC).
• He succeeded Air Marshal Narmdeshwar Tiwari, who is set to take charge as the Vice Chief of the Air Staff on May 2.
• The South Western Air Command (SWAC) is headquartered in Gandhinagar, Gujarat.
• Prior to taking charge of SWAC, he served as AOC-in-C, Training Command.

About Air Marshal Nagesh Kapoor:

• Graduated from the National Defence Academy (NDA) in December 1985.
• He was commissioned into the Indian Air Force (IAF) on December 6, 1986.
• Flying Experience:A highly experienced fighter pilot with more than 3,400 flying hours.
• Has flown all variants of MiG-21 and MiG-29
• Operational Experience:Commanded a fighter squadron in the central sector.
• Served as station commander of a flying base in the western sector.
• Served as Air Officer Commanding of a premier air base.
• Served as Chief Instructor (Flying) at the Air Force Academy, where he played a key role in the induction and operationalization of PC-7 MK II aircraft in the Indian Air Force.

Senior Staff Appointments:

• Assistant Chief of Air Staff Operations (Strategy) at Air HQ.
• Air Defence Commander at South Western Air Command.
• Senior Air Staff Officer at HQ Central Air Command.
• Air Officer-in-Charge Personnel at Air HQ.

Awards:

• Vayu Sena Medal (2008) for distinguished service.
• Ati Vishisht Seva Medal (2022).
• Param Vishisht Seva Medal (2025).

Lieutenant General Pratik Sharma assumes charge as Commander of Indian Army's Northern Command

• Lieutenant General Pratik Sharma assumed the role of General Officer Commanding-in-Chief (GOC-in-C) of the Indian Army's Northern Command.

About Lieutenant General Pratik Sharma :

• An alumnus of National Defence Academy (NDA), Khadakwasla, Indian Military Academy (IMA), Dehradun, and Defence Services Staff College, Wellington.
• Commissioned into the MADRAS Regiment in December 1987.
• Operational Experience:Commanded an Infantry Battalion, Brigade, and Division along the Line of Control (LoC).
• Commanded a Strike Corps in the Western Sector.
• Staff and Instructional Roles:Held varied staff and instructional roles, including being a staff officer in the UN Mission.
• Appointed in key positions at Military Operations Directorate and Military Secretary Branch at Army Headquarters.
• Served as Director General of Military Operations and Deputy Chief of Army Staff (Strategy).

Shri Arvind Shrivastava Assumes Office as Revenue Secretary in the Ministry of Finance   

• Shri Arvind Shrivastava took charge as the Secretary of the Department of Revenue, Ministry of Finance on 18th April 2025.
• His appointment was approved by the Appointments Committee of the Cabinet.

About Shri Arvind Shrivastava :

• He is a 1994-batch IAS officer of the Karnataka cadre.
• Prior to this role, he served as Joint Secretary and Additional Secretary in the Prime Minister’s Office (PMO).

• Previous Roles:

• Joint Secretary in the Budget Division of the Department of Economic Affairs, Ministry of Finance.
• Development Officer at the Asian Development Bank.
• Secretary in the Finance Department and Urban Development Department in Bengaluru.
• Managing Director at the Urban Infrastructure Development & Finance Corporation in Karnataka.

About Ministry of Finance :

• Cabinet Minister :Nirmala Sitharaman
• Minister of State :Pankaj Choudhary

CURRENT AFFAIRS: MOUS AND AGREEMENT

GAIL and CONCOR Collaborate to Explore LNG as Alternative Fuel for Logistics Sector

• GAIL India and CONCOR signed an MoU to assess the feasibility of using Liquefied Natural Gas (LNG) for CONCOR’s rail-based container transport fleet.
• The partnership aims to leverage LNG’s cleaner combustion and potentially lower fuel costs to reduce emissions and operational expenses.

Key Highlights

• Purpose of the MoU: Evaluate LNG as a cost-effective, lower-emission substitute for diesel in CONCOR’s logistics operations.
• Environmental Benefit: LNG emits fewer particulates and lower CO₂ compared to diesel, supporting India’s sustainability goals.
• Cost Advantage: While initial investment in refueling infrastructure is required, LNG promises long-term savings on fuel expenditure.
• GAIL’s Strength: Holds the largest LNG portfolio in India, with global contracts positioning it as a reliable supplier.
• CONCOR’s Preparedness: Has already established an LNG station at MMLP Khatuwas and procured 130 LNG trailers for its operations.

CURRENT AFFAIRS: RANKING AND INDEX

India Ranked 4th Largest Economy Globally in IMF’s April 2025 Outlook 

• According to the IMF’s World Economic Outlook (April 2025), India has retained its position as the 4th largest economy in the world with a GDP of $4.39 trillion.
  ● Despite a slight downward revision, India is projected to grow at 6.2% in 2025, maintaining its status as the fastest-growing major economy globally.

Key Highlights

• Global Economic Landscape:

• The United States remains the largest economy with a GDP of $30.34 trillion, followed by China ($19.53 trillion) and Germany ($4.92 trillion).
• India ranks 4th, ahead of Japan ($4.27 trillion).

• India’s Growth Outlook:Growth Projection (2025): 6.2% (slightly down from 6.5%).

• Growth is fueled by private consumption, particularly in rural areas.
• India is expected to become the third-largest economy by 2030.

• GDP Per Capita (2025):

• India: $4.19 thousand (comparable to Japan).
• USA: $30.51 thousand (highest among top 10).

Top 10 Economies in 2025 (IMF Estimates)

Maharashtra, Gujarat, Karnataka Top CareEdge Ratings State Ranking 2025

• CareEdge Ratings State Ranking 2025 has ranked Maharashtra, Gujarat, and Karnataka as the top three states in India.
  ● Rankings are based on performance across seven key pillars: economic, fiscal, infrastructure, financial development, social, governance, and environment.
  ● The assessment uses 50 performance indicators to evaluate the comprehensive development and sustainability of each state.

Key highlights

• Maharashtra: Ranked 1st overall due to strong performance in financial, economic, fiscal, and social parameters.
• Gujarat: Noted for its high per capita GSDP, strong FDI inflows, and industrial investments through gross fixed capital formation (GFCF).
• Karnataka: Ranked 3rd; scored well on industrial growth, governance, and environmental sustainability.
• Goa: Topped the list among small states, performing well in fiscal health, financial development, and infrastructure.
• Western dominance: Gujarat and Maharashtra lead in economic and fiscal metrics due to industrial strength.
• Southern strength: Karnataka shows leadership in environmental and governance indicators, showcasing balanced development.
• The report provides valuable insights for policy formulation, investment decisions, and identification of regional disparities.

Recent news

• In April 2025, Maharashtra Governor C.P. Radhakrishnan conferred the 3rd edition of the ‘Yashraj Bharti Samman’ awards to three notable grassroots-level organizations for their exemplary contributions in the fields of healthcare, education for sustainable development, and governance.
• In a significant reform under the National Education Policy (NEP) 2020, the Maharashtra state school education department has announced a phase-wise implementation of a new curriculum framework. Beginning from the academic year 2025–26, Hindi will be made a mandatory third language for students in Classes 1 to 5 in English and Marathi-medium schools.

Tamil Nadu Leads in Textile Exports in 2024-25, Strengthened by Tiruppur Cluster

• Tamil Nadu retained its position as the top exporter of textile goods in India during 2024-25, contributing $7.99 billion (26.81% share) to the country’s total textile exports of $36.61 billion.

This marked a significant increase from the previous year’s share of 20.78%.
● The state's dominance has widened over Gujarat, the second-largest exporter, by more than 700 basis points. Maharashtra ranked third with $3.83 billion (12.84%).

Key Highlights

• Tiruppur Cluster’s Contribution: The Tiruppur knitwear cluster played a crucial role, with exports worth $4.69 billion (₹40,000 crore), benefiting from the Generalised Scheme of Preferences (GSP) ending for Bangladesh in 2027, leading buyers to strengthen sourcing in India.
• Export Breakdown:
  • Readymade garments contributed $15.99 billion.
  • Cotton yarn/fabrics/made-ups and handloom products followed with $12.06 billion.
  • Man-made yarns/fabrics/made-ups contributed $4.87 billion.
• Infrastructure and Logistics: Tamil Nadu's robust value chain in textile manufacturing, including spinning, weaving, garmenting, and strong port infrastructure, underpins its growth.
• Sustainability Focus: Tiruppur's emphasis on eco-friendly manufacturing and social compliance has made it a key sourcing hub for global buyers looking for responsible, ethically sourced products.
• Government Support: The state’s policy framework, improved logistics, and infrastructure, including support for workers' welfare, have driven the textile sector’s resilience and growth.

RECENT NEWS

• In April 2025, Tamil Nadu achieved the highest real economic growth rate in India for the year 2024-25. The state grew at a rate of 9.69%, which is the best in the country and also the highest for Tamil Nadu in the past 10 years
• The Tamil Nadu government’s decision to replace the Indian Rupee symbol (₹) with the Tamil letter ‘ரூ’ in the state budget logo has reignited the language debate in India.

CURRENT AFFAIRS: SPORTS NEWS

Mixed Martial Arts (MMA) Debuts and Cricket Retained at Asian Games 2026 in Japan

• The Olympic Council of Asia approved the inclusion of Mixed Martial Arts (MMA) for the first time and confirmed cricket will return for its fourth appearance at the Asian Games, to be held in Aichi and Nagoya, Japan from September 19 to October 4, 2026.
• MMA will feature six medal events, joining other combat sports like kurash and jujitsu, while cricket will follow the T20 format for both men and women.

Key Highlights

• MMA’s Entry: Marks a milestone for combat sports in Asia, reflecting MMA’s booming popularity in countries such as India.
• Cricket’s Continuation: First introduced in 2010, dropped in 2018, and reinstated in 2023—now secured for 2026 in the T20 format.
• Event Scope: Asian Games 2026 spans 17 days across multiple venues in Aichi and Nagoya prefectures.
• Combat Sports Lineup: MMA joins established disciplines, expanding medal opportunities and audience engagement.
• Legacy and Growth: MMA fighters like Anshul Jubli and Pooja Tomar (UFC competitors) underscore Asia’s rising profile in the sport.
• Cricket’s Global Momentum: With cricket also slated for the Paris 2024 Olympics debut—T20’s inclusion in multi-sport events boosts its international reach.

CURRENT AFFAIRS: OBITUARIES

Veteran Congress leader and former Union Minister Girija Vyas passed away

• Girija Vyas, former Union Minister and veteran Congress leader, passed away on May 2, 2024, at the age of 79.
• She succumbed to burn injuries sustained during a Gangaur Puja at her residence in Udaipur on March 31.

About Girija Vyas :

• Girija Vyas served as a three-time former MP and two-time former MLA from Udaipur.
• She held the position of Minister in both State and Union
• She was the president of the Rajasthan Pradesh Congress Committee.
• She served as chairperson of the National Commission for Women.
• She Contesting from the Udaipur City Assembly constituency in 2018, she lost to BJP’s Gulab Chand Kataria.
• She was a Minister in Rajasthan from 1985 to 1990.
• She served as Minister of State for Information and Broadcasting under P. V. Narasimha Rao.
• Union Minister of Housing and Urban Poverty Alleviation in Manmohan Singh government from 2013 to 2014.

CURRENT AFFAIRS: IMPORTANT DAYS

Maharashtra Day and Gujarat Day - 65th Foundation Anniversary (1 May 2025)

• The 1st of May is celebrated every year as Maharashtra Day and Gujarat Day, and the year 2025 marks the 65th foundation day of both states.
• This day is not only significant for the establishment of these two states but also symbolizes the achievement of the State Reorganization Movement.

History of Maharashtra and Gujarat State Formation

Bombay Presidency (Pre-Independence)

• Before India gained independence in 1947, the regions that are now Maharashtra and Gujarat were part of the Bombay Presidency under British rule.

Post-Independence – Formation of Bombay State

• After independence, the Bombay Presidency was transformed into Bombay State, which was home to various linguistic communities, primarily Marathi and Gujarati speakers.

Demand for States on Linguistic Basis

• Over time, there was growing demand for the creation of states based on linguistic identities.
  • The Marathi-speaking people formed the Samyukta Maharashtra Samiti to push for the formation of a separate state for Marathi speakers.
  • The Gujarati-speaking community also sought the creation of a separate state for Gujarat.

Fazal Ali Commission & State Reorganization Act (1956)

• In 1953, the Fazal Ali Commission was set up by the Central Government to recommend the reorganization of states based on linguistic lines.
• Although the State Reorganization Act, 1956 was passed, it did not initially divide Bombay State along linguistic lines.

Protests and Movements

• After the 1956 Act, discontent between the Marathi and Gujarati groups continued to grow.
• The United Maharashtra Movement gained momentum, and martyrs were made in this struggle for a separate state for Marathi speakers.
• The strength of these movements forced the government to take action.

Creation of Maharashtra and Gujarat (1 May 1960)

• On 1 May 1960, the Bombay Reorganisation Act, 1960 came into effect, dividing the Bombay State into two parts:
  • Maharashtra (for Marathi and Konkani-speaking people)
  • Gujarat (for Gujarati and Kutchi-speaking people)

This historic decision gave constitutional recognition to linguistic identities and led to the creation of Maharashtra and Gujarat as independent states.

Constitutional Context: Article 3

• The creation of these states was made possible under Article 3 of the Indian Constitution, which grants Parliament the power to alter the boundaries of states, change their names, or create new states.
• The Bombay Reorganisation Act, 1960 was passed under this provision, enabling the formation of Maharashtra and Gujarat.

World Press Freedom Day 2025 - May 3

• World Press Freedom Day is observed every year on May 3.
• The United Nations General Assembly(UNGA) has declared May 3 as World Press Freedom Day.
• This day is observed to raise awareness about the freedom of the press and uphold the right to freedom of expression.
• This day is also a remembrance of journalists who lost their lives in the press.

History:

• On the recommendation of the twenty-sixth session of UNESCO’s General Conference, World Press Freedom Day was proclaimed by the UN General Assembly in December 1993.
• May 3 acts as a reminder for the Governments to respect their commitments to press freedom.
• This day is a reflection for media professionals on issues of press freedom and profession.
• World Press Freedom Day is a support day for media persons who are involved in press freedom, Journalists, media, etc.

Daily CA One- Liner: May 3

• India reaffirmed its leadership in environmental governance at the BRS COPs 2025 in Geneva, held from 30th April to 1st May.
• Union Home Minister Amit Shah unveiled a 9-feet statue of Bodofa Upendranath Brahma in New Delhi
• Madhya Pradesh becomes the first Indian state to launch an AI-based real-time forest monitoring system
• GAIL India and CONCOR signed an MoU to assess the feasibility of using Liquefied Natural Gas (LNG) for CONCOR’s rail-based container transport fleet
• According to the IMF’s World Economic Outlook (April 2025), India has retained its position as the 4th largest economy in the world with a GDP of $4.39 trillion
• CareEdge Ratings State Ranking 2025 has ranked Maharashtra, Gujarat, and Karnataka as the top three states in India.
• Tamil Nadu retained its position as the top exporter of textile goods in India during 2024-25, contributing $7.99 billion (26.81% share) to the country’s total textile exports of $36.61 billion.
• The Olympic Council of Asia approved the inclusion of Mixed Martial Arts (MMA) for the first time and confirmed cricket will return for its fourth appearance at the Asian Games, to be held in Aichi and Nagoya, Japan from September 19 to October 4, 2026.
• Securities and Exchange Board of India (SEBI) Chief Tuhin Kanta Pandey ruled out the possibility of introducing an aptitude test for retail traders before they can trade in the Futures & Options (F&O) segment.
• Deloitte has projected India's GDP growth at 6.5-6.7% for the current fiscal year (2025), driven by tax incentives and domestic demand growth, despite an uncertain global trade environment.
• Senior IAS officer N Saravana Kumar took charge as the Vice Chairman of Delhi Development Authority (DDA) on May 1, 2024.
• Rajiv Anand, Deputy MD of Axis Bank and a frontrunner for the CEO role at IndusInd Bank.
• Sanjay Khanna assumed additional charge as the Chairman and Managing Director (CMD) of BPCL, following the end of G.Krishnakumar’s tenure on April 30, 2025.
• Neeraj Kumar Gupta, a former IAS officer, has been appointed as Chairman and Public Interest Director (PID) of NSE International Exchange (NSE IX).
• India has nominated Ms. M. Revathi, Joint Wireless Advisor at the Department of Telecommunications (DoT), as its candidate for the Director of the Radiocommunication Bureau at the International Telecommunication Union (ITU).
• Air Marshal Nagesh Kapoor took charge as Air Officer Commanding-in-Chief (AOC-in-C) of the South Western Air Command (SWAC).
• Lieutenant General Pratik Sharma assumed the role of General Officer Commanding-in-Chief (GOC-in-C) of the Indian Army's Northern Command.
• Shri Arvind Shrivastava took charge as the Secretary of the Department of Revenue, Ministry of Finance on 18th April 2025.
• Girija Vyas, former Union Minister and veteran Congress leader, passed away on May 2, 2024, at the age of 79.
• The 1st of May is celebrated every year as Maharashtra Day and Gujarat Day, and the year 2025 marks the 65th foundation day of both states
• World Press Freedom Day is observed every year on May 3.