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CURRENT AFFAIRS : BANKING, FINANCE& BUSINESS

Reserve Bank of India Increases Gold Reserves by 58 Metric Tonnes in FY25  

• The Reserve Bank of India (RBI) added nearly 58 tonnes of gold in the financial year 2024-25 (FY25), bringing its total gold reserves to 879.59 tonnes.
• Increase in Gold Share: The share of gold in India's total foreign exchange reserves increased to 11.70% by the end of March 2025, up from 9.32% at the end of September 2024.
• Foreign Exchange Reserves: As of April 25, 2025, India's foreign exchange reserves stood at $688 billion.

Key Highlights :

• Gold Storage Locations:Of the 58 tonnes added in the second half of FY25, 348.62 tonnes were stored with the Bank of England (BoE) and Bank for International Settlements (BIS).
• 18.98 tonnes were held in the form of gold deposits.
• 511.99 tonnes of gold were held domestically.
• Domestic Gold Holdings: As of March-end 2025, 58.20% of India’s gold reserves were held in local vaults, down slightly from 59.72% in September 2024.
• Domestic Gold Storage Increase: Since March 2023, the RBI has been increasing its gold reserves held domestically, raising the share from 38% to 59% by September 2024.

Recent News :

• A working group of the Reserve Bank of India (RBI), chaired by Radha Shyam Ratho, reviewed trading and settlement timings and recommended extending call money market trading hours.

About RBI :

• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Sanjay Malhotra

India's First Mortgage-Backed Pass-Through Certificates Listed on the National Stock Exchange   

• Shri M. Nagaraju, Secretary of the Department of Financial Services, Ministry of Finance, listed India’s first Mortgage-Backed Pass-Through Certificates (PTC) on the National Stock Exchange (NSE) on 5th May 2025.

What is a pass-through certificate?

• A Pass Through Certificate (PTC) is a form of securitized debt instrument in which investors receive a portion of the cash flows—such as principal and interest payments—generated from a pool of underlying assets like loans.

Key Highlights :

• Structure and Subscription:The PTCs were structured by RMBS Development Company Limited.
• The issue amounted to ₹1,000 crores (comprising 1,00,000 PTCs, each with a face value of ₹1,00,000).
• The issue was fully subscribed.
• Backing and Details:The PTCs are backed by a pool of housing loans originated by LIC Housing Finance Limited.
• The coupon rate is 7.26% per annum.
• The final maturity of the PTC is nearly 20 years.
• Ratings and Tradability:The PTCs have been rated AAA(SO) by CRISIL and CARE Ratings.
• These PTCs are issued in demat form and are transferable.
• As they are listed on the NSE, they can be traded in the secondary market.
• Platform and Discovery:The coupon for this PTC issue was discovered through the Electronic Book Provider (EBP) platform of the NSE.
• Securitization and RMBS:Shri Nagaraju suggested that securitization could integrate the housing finance market and the debt market.
• He reiterated that RMBS (Residential Mortgage-Backed Securities) could act as a catalyst for the growth of the housing finance sector.

About Ministry of Finance:

• Cabinet Minister: Smt. Nirmala Sitharaman
• Minister of State (MoS): Shri Pankaj Chaudhary, Dr. Bhagwat Kishanrao Karad

CURRENT AFFAIRS: NATIONAL NEWS

Centre Launches ₹1.5 Lakh Cashless Treatment Scheme for Road Accident Victims

• The Central Government has launched the Cashless Treatment of Road Accident Victims Scheme, 2025, offering free trauma care up to ₹1.5 lakh for those injured in road accidents across India.
• The scheme, effective from May 5, 2025, aims to ensure timely and affordable emergency treatment during the critical first seven days following an accident.

Key Highlights

• Eligibility: All individuals injured in motor vehicle-related accidents on any Indian road
• Hospital Network: Treatment in designated hospitals; non-designated hospitals may provide initial stabilization only
• Implementing Agency:National Health Authority (NHA), in coordination with police, transport departments, SHAs, and hospitals

Objective:

• To reduce fatalities by ensuring immediate trauma care
• To remove financial barriers to emergency treatment
• To create a standardized emergency healthcare system nationwide

Background:

• India reports over 1.5 lakh road accident deaths annually
• Scheme follows Minister Nitin Gadkari’s push for unified trauma care and aligns with Bharat NCAP and the UN’s Decade of Action for Road Safety goals

Government Approves Greenfield Airports in Kota and Puri for Enhanced Connectivity

• Union Civil Aviation Minister Rammohan Naidu Kinjarapu granted in-principle approval for two new Greenfield airports—one in Kota, Rajasthan, and the other in Puri, Odisha.
• Aligned with the UDAN regional connectivity scheme, these projects will serve as catalysts for improved air links, tourism growth, and economic development in both the educational hub of Kota and the pilgrimage centre of Puri.

Key Highlights

• Approval Details: In-principle clearance granted by Civil Aviation Minister Rammohan Naidu Kinjarapu.
• Kota Airport (Rajasthan): Backed by Lok Sabha Speaker Om Birla; will enhance connectivity for the IIT/medical coaching hub and the broader Hadoti region, supporting industrial demand and potential international flights.
• Puri Airport (Odisha): Aims to improve access to one of India’s Char Dham sites, boosting religious tourism and linking Puri directly to major metros like Delhi, Mumbai, Chennai, and Kolkata.
• Regional Impact: Both airports will facilitate UDAN’s goal of affordable air travel, generate employment, and spur local economic activity.
• Greenfield Definition: These are entirely new airports built from scratch on undeveloped land, as opposed to expanding existing facilities.

CURRENT AFFAIRS: STATE NEWS

India’s First Inter-State Cheetah Corridor to Link Madhya Pradesh and Rajasthan

• In a major step towards wildlife conservation, India’s first inter-state cheetah corridor is set to be developed across Madhya Pradesh and Rajasthan, spanning a total area of 17,000 sq km.
• The initiative will connect Kuno National Park and Gandhi Sagar Sanctuary in Madhya Pradesh with the Mukundara Hills Tiger Reserve in Rajasthan.
• This corridor aims to provide a safe and continuous passage for cheetahs, supporting the broader goals of Project Cheetah, India's mission to reintroduce the species.

Key Highlights

Corridor Coverage:

• Total area: 17,000 sq km
  • Madhya Pradesh: 10,500 sq km
  • Rajasthan: 6,500 sq km

Connected Wildlife Sites:

• Kuno National Park (MP)
• Gandhi Sagar Sanctuary (MP)
• Mukundara Hills Tiger Reserve (Rajasthan)

Rajasthan Districts Involved:Kota, Bundi, Baran, Jhalawar, Sawai Madhopur, Karauli, and Chittorgarh.

Background:

• Cheetahs were declared extinct in India in 1952.
• Project Cheetah began with translocation of cheetahs from Namibia and South Africa to Kuno National Park in 2022.
• The corridor will support the long-term success of this pioneering large carnivore reintroduction project in Asia.

• A Memorandum of Understanding (MoU) between Rajasthan and Madhya Pradesh is currently under process to formalize this landmark initiative.

Navi Mumbai to Host India's First EduCity with Foreign University Campuses

• Maharashtra Chief Minister Devendra Fadnavis has announced the development of India's first EduCity in Navi Mumbai, aimed at hosting offshore campuses of prestigious global universities.
• This initiative, in line with the National Education Policy 2020, seeks to integrate international education institutions into India’s academic infrastructure.

Key Features

• MoUs Signed: CIDCO has signed agreements with the University of York (UK) and University of Western Australia, each valued at ₹1,500 crore, for the establishment of their campuses.
• Boost to Local Economy: The EduCity will create a dynamic educational environment, attracting international talent, fostering research, and contributing to local job creation.
• Strategic Location: Navi Mumbai is set to become a global hub for higher education, aligning with Maharashtra's goal to elevate its international presence.

• AI-Powered Film City: An AI-powered Film City project is also part of the initiative, promising a ₹3,000 crore investment and the creation of over 12,500 jobs (direct and indirect).
• Additional Collaborations: CIDCO is actively negotiating with more universities, with plans for three more universities pending approval from the UGC.
• Global Partnerships: This initiative will establish Navi Mumbai as a key player in global education and research while reducing the need for Indian students to go abroad for top-tier education.

Telangana Hosts Miss World 2025: A Global Showcase for Culture and Tourism

• Telangana will host the 72nd Miss World pageant from May 10 to 31, 2025, in Hyderabad, featuring delegates from 120 countries and live broadcasts in over 150 nations.
• The state government is leveraging this global event to shine a spotlight on Telangana’s tourism potential, cultural heritage, and investment opportunities in hospitality and entertainment.

Key Highlights

• Tourism Promotion: The event aims to boost foreign tourist arrivals (1.55 lakh in 2024) by showcasing UNESCO sites (Ramappa Temple), Nizam-era monuments, and eco-tourism destinations across Telangana.
• Economic Impact: Expected to attract global investments in tourism, culture, and hospitality, while generating employment and media attention.
• Cultural Diplomacy: Provides a platform for Telangana to engage in cultural exchange, highlighting its traditions, arts, and heritage crafts.
• Security & Logistics: Comprehensive protocols have been established by the Telangana DGP to ensure the safety and smooth conduct of the event.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Central Bureau of Investigation Director Praveen Sood Expected to Receive One-Year Extension as Selection Panel Fails to Reach Agreement

• Praveen Sood is set to receive a one-year extension as Central Bureau of Investigation (CBI) Director due to a lack of consensus in the selection committee on appointing a new Director.
• The selection panel is headed by Prime Minister Narendra Modi, with Chief Justice of India (CJI) Sanjiv Khanna and Leader of Opposition (LoP) Rahul Gandhi as members.
• The panel met on May 5, 2025, at the Prime Minister's Office.
• The Department of Personnel and Training (DOPT) will issue the official notification regarding the extension of Praveen Sood’s tenure.
• As per law, a CBI Director can receive an extension of up to one year.
• The meeting was held just days before the end of the current Director’s term on May 25, 2025.
• This is the first time Rahul Gandhi attended the meeting to select the CBI Director since becoming the Leader of Opposition (LoP) in the Lok Sabha.
• The meeting also marked the first closed-door session involving the Prime Minister, CJI, and LoP on the CBI Director's selection.

About Praveen Sood :

• Praveen Sood is a 1986-batch IPS officer of the Karnataka cadre and previously served as the Director General of Police (DGP) in Karnataka before being appointed CBI Director.
• He took over as CBI Director on May 25, 2023.

About CBI :

• Formed : 1963 through Delhi Special Police Establishment Act, 1946
• Headquarters : New Delhi, India
• It operates under the jurisdiction of the Ministry of Personnel, Public Grievances and Pensions.

World Bank Executive Director Parameswaran Iyer Appointed as India’s Representative on International Monetary Fund Board

• Parameswaran Iyer, an executive director at the World Bank, has been temporarily appointed as India’s nominee director on the International Monetary Fund (IMF)
• His appointment is in light of the vacancy left by K.V. Subramanian's termination as India’s executive director at the IMF.
• Reason for Iyer's Nomination:The vacancy occurred when V. Subramanian's term as the IMF executive director was terminated six months early (effective April 30, 2025).
• The IMF Executive Board meeting on May 9, 2025, will discuss critical issues such as a $1.3 billion loan under the climate resilience programme and the first review of a $7 billion bailout package for Pakistan.
• If India had not nominated Iyer, the alternate executive director from Sri Lanka, Harischandra Pahath Kumbure Gedara, would have performed the duties as per IMF rules.
• K.V. Subramanian’s exit was linked to his disagreements with the IMF’s datasets and comments on India’s debt situation.
• Subramanian also faced scrutiny for an “alleged impropriety” related to the promotion of his book, 'India@100: Envisioning Tomorrow’s Economic Powerhouse'.
• India’s decision is significant as it comes amidst efforts to diplomatically corner Pakistan following the Pahalgam terror attack, which killed 26 tourists in April 2025.

About IMF Executive Board Structure:

• The IMF Executive Board consists of 25 executive directors (EDs) elected by member countries or groups of countries.
• India is part of a four-country constituency at the IMF, alongside Bangladesh, Sri Lanka, and Bhutan.

Berkshire Board Appoints Greg Abel as Chief Executive Officer, Warren Buffett to Stay on as Chairman

• Greg Abel has been appointed as the new Chief Executive Officer (CEO) of Berkshire Hathaway Inc., effective January 1.
• The decision was made following Warren Buffett’s recommendation, and it was unanimously approved by Berkshire’s board of directors.
• As CEO, Abel will oversee nearly 400,000 employees across Berkshire’s wide range of businesses, which include manufacturing, retail, finance, and a massive stock portfolio.
• Buffett will remain as Chairman of the Board after stepping down as CEO.

About Greg Abel :

• Greg Abel is a 62-year-old Canadian executive, known for being one of Buffett’s top lieutenants for years.
• Abel has been overseeing various businesses, including BNSF railroad, See’s Candies, Dairy Queen, and other manufacturing and retail businesses owned by Berkshire Hathaway.
• Prior to this, he managed a diverse portfolio of companies under the Berkshire umbrella, making him highly experienced for the role.

About Berkshire Hathaway Inc :

• Founded : 1839
• Headquarters :Nebraska, United States

Shri Prakash Magdum Takes Over as Managing Director of National Film Development Corporation

• Shri Prakash Magdum,1999-batch Officer of the Indian Information Service has assumed charge as the Managing Director (MD) of the National Film Development Corporation (NFDC).

About Shri Prakash Magdum :

• Prior to his appointment as MD of NFDC, Shri Magdum served as the Additional Director General of the Press Information Bureau (PIB) and Central Bureau of Communication (CBC) in Ahmedabad.
• He also served as the Director of the National Film Archive of India (NFAI) in Pune, where he played a key role in preserving, conserving, digitizing, and restoring India's cinematic heritage through the National Film Heritage Mission.
• He has also held the position of Registrar at the Film and Television Institute of India (FTII).
• He served as a spokesperson for the Ministry of Defence in Thiruvananthapuram.

About National Film Development Corporation :

• Founded : 1975
• Headquarters : Mumbai, Maharashtra,India

CURRENT AFFAIRS : DEFENCE NEWS

Defence Research and Development Organisation and Indian Navy Successfully Conduct Combat Firing Trial of Indigenous Multi-Influence Ground Mine with Reduced Explosive

• The Defence Research and Development Organisation (DRDO) and the Indian Navy have successfully conducted combat firing of the Multi-Influence Ground Mine (MIGM) with reduced explosive.
• The MIGM system is an indigenous and advanced underwater naval mine, developed by the Naval Science & Technological Laboratory (NSTL) in Visakhapatnam.
• The development involved collaboration with other DRDO laboratories: High Energy Materials Research Laboratory (HEMRL) in Pune and Terminal Ballistics Research Laboratory (TBRL) in Chandigarh.

Key Highlights :

• Capabilities of MIGM:MIGM is designed to enhance the Indian Navy’s ability to target modern stealth ships and submarines.
• The mine is equipped with multiple sensors to record various influences like acoustic, magnetic, and pressure changes generated by marine vessels.
• Electronic System:The MIGM features a built-in electronics system with data acquisition electronics, ARM processors, and peripheral devices for processing data and initiating actions.
• Production Partners:The production of MIGM involves Bharat Dynamics Limited (BDL) in Visakhapatnam and Apollo Microsystems Limited in Hyderabad.

Recent News :

• The Defence Research and Development Organisation (DRDO) successfully carried out the maiden flight-trials of the Stratospheric Airship Platform on May 03, 2025.

About DRDO:

• Founded: 1958
• Headquarters: New Delhi, India
• Parent Ministry: Ministry of Defence, Government of India
• Chairman: Dr. Samir V. Kamat

About Ministry of Defence:

• Cabinet Minister: Rajnath Singh
• Minister of State (MoS): Ajay Bhatt

INS Sharda Reaches Maafilaafushi, Maldives for Humanitarian Assistance and Disaster Relief (HADR) Exercise

• INS Sharda has arrived at Maafilaafushi Atoll, Maldives, for a Humanitarian Assistance and Disaster Relief (HADR) exercise scheduled from 04 to 10 May 2025.
• This deployment underscores India’s commitment to regional cooperation and strong defense and maritime ties between India and the Maldives.
• The exercise aligns with India's "MAHASAGAR" vision, which stands for Mutual and Holistic Advancement for Security and Growth Across Regions.
• The vision emphasizes collaborative efforts to ensure peace, stability, and prosperity in the Indian Ocean Region.
• Exercise Objective:The HADR exercise aims to improve interoperability between the Indian Navy and the Maldives National Defence Force (MNDF).
• The focus will be on key areas such as:
• Disaster Response Coordination
• Search and Rescue Operations
• Medical Assistance
• Logistical Support
• Joint Drills
• Training Sessions
• Community Engagement following a natural disaster.
• The exercise is part of ongoing efforts to strengthen the partnership between India and the Maldives, particularly in responding to natural disasters and other humanitarian challenges.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Indian Scientists Develop Innovative Metal-Free Catalyst for Hydrogen Fuel Production

• Researchers have developed a cost-effective, metal-free porous organic catalyst for efficient hydrogen (H2) production by harvesting mechanical energy.
• This development aims to reduce global warming and reliance on fossil fuels by promoting sustainable energy solutions, specifically green hydrogen.
• Green hydrogen (H2) is a clean and renewable energy source with no direct carbon emissions, producing only water as a by-product when used in fuel cells.
• The Government of India launched the National Green Hydrogen Mission to drive large-scale production, research, and innovation in the H2 sector, positioning India as a global leader in the H2 economy.

Key Highlights :

• Water Splitting Process:Water splitting is a key method for H2 production, which requires catalysis due to its energetically uphill nature.
• Piezocatalysis is a promising method for H2 production, using piezoelectric materials to harvest mechanical energy and generate charge carriers that catalyze water splitting.
• Covalent Organic Framework (COF):The research, led by Professor Tapas K. Maji from JNCASR, focuses on the development of a Covalent Organic Framework (COF) for piezocatalytic water splitting.
• The COF is made from imide linkages between organic donor molecules (TAPA) and acceptor molecules (PDA), exhibiting ferrielectric (FiE) ordering that significantly enhances piezocatalytic activity.
• Advantages Over Traditional Materials:TheFiE ordering in COFs provides a multifold enhanced number of charges at the pore surfaces, creating large local electric fields, which improve the efficiency of H2 production.
• Unlike traditional ferroelectric (FE) materials that have limited charge confinement, COFs can utilize the charges more effectively, leading to ultra-high H2 production yields.
• Properties of TAPA and PDA:TAPA (tris(4-aminophenyl)amine) and PDA (pyromellitic dianhydride) are the donor and acceptor molecules, respectively, forming the COF.
• TAPA has a propeller-like shape, which helps the structure reach a more stable, lower-energy state, aiding in the creation of dipoles and improving charge transfer properties.
• Collaborators and Contributions:The study involves collaboration between JNCASR and researchers from Indian Institute of Science Education and Research (IISER) Pune, and Wrocław University of Science and Technology, Poland.
• Key contributors include Supriya Sahoo, Prof. Ramamoorthy Boomishankar, and Prof. Jan K. Zaręba.
• Implications for H2 Production:Thismetal-free, cost-effective catalyst opens up a new route for green H2 production based on porous heterogeneous catalysts, with a high rate of hydrogen production using mechanical energy.

Parachutes for Gaganyaan Uncrewed Spaceflight Mission Flagged Off

• A set of parachutes for the first uncrewed mission of India's Gaganyaan spaceflight program was shipped from Agra on May 5, 2025.
• These parachutes were developed by the Aerial Delivery Research and Development Establishment (ADRDE), a DRDO laboratory based in Agra.
• Mission Objective: The parachutes are designed for the safe return of the capsule that will carry astronauts under the Gaganyaan program.
• The system is being tested during an uncrewed mission before crewed missions are carried out.

Key Highlights :

• Parachute Configuration: The system consists of 10 parachutes designed for sequential deployment. The recovery sequence includes:
• Two Apex Cover Separation parachutes (protecting the main parachute compartment).
• Two Drogue parachutes for stabilization and velocity reduction.
• Three Pilot parachutes to extract three Main parachutes.
• Three Main parachutes to slow down the crew module to safe landing speeds.
• Flagging Off: The parachutes were formally flagged off by Dr. Manoj Kumar, Director of ADRDE, and dispatched to the ISRO Satellite Integration and Testing Establishment (ISITE) in Bengaluru.
• Role in Gaganyaan Mission: These parachutes will be used in the first uncrewed mission of Gaganyaan, designated G-1.
• The ADRDE team will assemble the parachutes with the crew module at ISITE for the mission scheduled later in 2025.
• Significance for Gaganyaan Program: The Gaganyaan mission aims to send two to three astronauts into Low Earth Orbit (LEO), with these parachutes playing a crucial role in ensuring the safe return of the crew module.

CURRENT AFFAIRS: MOUS AND AGREEMENT

India-Italy Strategic Action Plan 2025–29 Accelerates at ADB Summit in Milan

• At the 58th Asian Development Bank (ADB) Annual Meeting held in Milan, Indian Finance Minister Nirmala Sitharaman met Italian counterpart Giancarlo Giorgetti to advance the India-Italy Joint Strategic Action Plan 2025–2029.
• The meeting aimed at reinforcing bilateral ties in areas such as green energy, fintech, climate action, and digital infrastructure, aligning both nations’ global and sustainable development goals.

Key Highlights

• Strategic Partnership: The meeting reaffirmed commitment to the India-Italy Joint Strategic Action Plan 2025–2029, originally announced during PM Modi's 2024 meeting with Italian PM Giorgia Meloni.
• Bilateral trade reached $14.56 billion in FY2023–24. Italy was invited to invest through India’s PLI schemes under the Make in India initiative.
• Digital & Green Cooperation: India showcased progress in Digital Public Infrastructure (DPI) like Aadhaar, UPI, and DigiLocker, while both nations agreed to collaborate on green hydrogen, carbon capture, and energy efficiency.
• Multilateral Focus: The ministers emphasized the need for reforms in Multilateral Development Banks (MDBs) to align them better with Sustainable Development Goals (SDGs).
• Extended Engagements: Sitharaman also held bilateral talks with Japan’s Finance Minister to boost the India-Japan Special Strategic and Global Partnership, focusing on Indo-Pacific initiatives and private sector innovation.

CIL Signs MoU with UPRVUNL for 500 MW Solar Power Project in Uttar Pradesh

• Coal India Ltd (CIL) has entered into a Memorandum of Understanding (MoU) with Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd (UPRVUNL) to establish a 500 MW solar power project in Uttar Pradesh.
• This agreement is a key step in Coal India’s transition towards green energy and aims to meet the growing power demand in the state.

Key Highlights

• Project Details: A 500 MW solar power plant in Uttar Pradesh, aimed at addressing the state's increasing energy needs.
• Collaboration Scope: The MoU also includes provisions for future collaboration on additional opportunities in the renewable energy space.
• Previous Developments: In April 2025, CIL signed a pact with Damodar Valley Corporation (DVC) to set up an ultra-supercritical power plant in Jharkhand with a Rs 16,500 crore investment.
• Coal India’s Role: Coal India accounts for over 80% of India’s coal production. Despite a nearly flat production in April 2025, CIL is targeting a coal production of 875 MT and 900 MT offtake for the financial year 2025-26.

CURRENT AFFAIRS: RANKING AND INDEX

India’s Progress in Human Development Index 2025:

• India has made significant strides in the Human Development Index (HDI), climbing to 130th position in 2023, up from 133rd in 2022.
• According to the UNDP Human Development Report 2025, this improvement highlights notable advances in gender equality and health, although challenges persist, especially concerning inequality and gender gaps.

Key Insights:

1. India's HDI Progress:
   • HDI Rank (2023):130th (↑ from 133rd in 2022)
   • HDI Value (2023):0.685 (within the medium human development category)
   • India is inching closer to the high human development threshold of 0.700.
2. Gender Equality Improvements:
   • Gender Inequality Index (GII) Rank (2023):102nd (↑ from 108th in 2022)
   • Gender Development Index (GDI) Score:0.874 (India remains in Group 5 countries with slow gender gap reduction)
3. Health & Life Expectancy:
   • Life Expectancy (2023):72 years (↑ from 71.7 years in 2022)
   • In 1990, it stood at 58.6 years, showcasing recovery from the pandemic.
   • Key health initiatives: Ayushman Bharat, National Rural Health Mission, Poshan Abhiyaan.
4. Education:
   • Mean Years of Schooling:6.9 years (↑ from 6.6 years in 2022)
   • Expected Years of Schooling:13 years (stable).
   • Education progress driven by Right to Education Act and National Education Policy 2020.
5. Economic Growth:
   • Gross National Income (GNI) per Capita (2023):$9,047 (↑ from $8,475 in 2022).
   • GNI has more than quadrupled since 1990 (from $2,167.22).
   • Key economic programs: MGNREGA, Jan Dhan Yojana, Digital Inclusion.

Global HDI Comparison (2023)

Key Challenges:

• Inequality: India’s HDI value is reduced by 30.7% due to inequality, one of the highest losses globally.
• Income & Gender Disparities: Female labor force participation and political representation remain low.
• However, recent constitutional changes, such as one-third legislative seats reserved for women, offer hope for future systemic improvements.

India’s Regional & Global Position:

• India’s HDI Rank (130) is shared with Bangladesh; Nepal ranks 145, and Bhutan ranks 125.
• China ranks 78, while Sri Lanka is at 89 in the high human development category.
• Pakistan dropped from 164 to 168, and Afghanistan improved to 181 (both in the low human development category).

Global Trends & AI’s Role in Human Development:

• Global HDI Growth: The 2025 Human Development Report reveals global HDI growth stalled at a 35-year low. Projections for 2024 indicate no substantial improvements.
• Optimism about AI:60% of people are hopeful that AI will create new job opportunities, especially in low- and medium-HDI countries, where 70% expect AI to improve productivity. Additionally, two-thirds anticipate AI being used in education, health, or work within the next year.
• UNDP’s Concern: Without a surge in development progress, the global target for very high human development by 2030 may be delayed by decades, deepening global inequality.

CURRENT AFFAIRS: SPORTS NEWS

Amanpreet Singh Wins Gold in Centre Fire Pistol at 23rd Kumar Surendra Singh Shooting Championship

• Amanpreet Singh of Punjab secured the gold medal in the 25m Centre Fire Pistol event with a score of 587 at the 23rd Kumar Surendra Singh Shooting Championship, held at the Madhya Pradesh Academy.
• The 22-year-old edged past Mandeep Singh by two points to claim the top spot.
• Sahil Choudhary won the bronze, finishing ahead of seasoned shooters like Olympian Gurpreet Singh, Harpreet Singh, and Olympic silver medallist Vijay Kumar.

Key Highlights

Centre Fire Pistol (Men’s):

• Gold: Amanpreet Singh – 587
• Silver: Mandeep Singh – 585
• Bronze: Sahil Choudhary – 584

Standard Pistol (Men’s & Junior):

• Mukesh Nelavalli of Andhra Pradesh won double gold with a score of 575 in both men’s and junior events.
• Suraj Sharma secured silver in both categories with 574.

• Top shooters like Gurpreet Singh and Vijay Kumar added significance to the event, showcasing the depth of talent in Indian shooting.

CURRENT AFFAIRS : OBITUARIES

Former F1 and Le Mans Champion Jochen Mass Passed Away

• Jochen Mass, former Formula 1 driver, passed away at the age of 78 due to complications from a stroke he suffered in February.

About Jochen Mass :

• Mass won the 1975 Spanish Grand Prix at the Montjuic circuit for McLaren.
• This race was shortened, and half points were awarded due to a crash involving Rolf Stommelen that killed four spectators.
• In the same race, Lella Lombardi, the only female driver to finish in the points in F1, finished sixth and earned half a point.
• Mass was involved in a fatal accident during qualifying for the 1982 Belgian Grand Prix at Zolder.
• His March car collided with Canadian driver Gilles Villeneuve’s Ferrari, leading to Villeneuve's death.
• Mass retired from Formula 1 later in 1982 after the incident.
• Mass participated in 114 Formula 1 Grand Prix races during his career.
• After retiring from F1, Mass transitioned to a successful career as a broadcast commentator.
• In 1989, Mass won the Le Mans 24 Hours race with Sauber, a Swiss-based team.

CURRENT AFFAIRS: IMPORTANT DAYS

World Athletics Day 2025- May 7 

• World Athletics Day 2025 is celebrated on May 7.
• This Day is observed to raise awareness about Athletics.
• This day was launched to honor the sportsperson who has the responsibility to pride the nation.
• The International Amateur Athletic Federation (IAAF) has launched the project "Athletics for a Better World". Athletics is the cumulation of various sports events like running, jumping, marathons, etc.

History   

• This day was first observed in 1996 and it was launched by International Amateur Athletic Federation (IAAF) President Primo Nebiolo.
• The World Athletics Federation and International Amateur Athletic Federation (IAAF) organized sports events in all schools and colleges every year.
• The International Amateur Athletic Federation (IAAF) was founded in 1912 to organize various sports events and athletics.
• In 2001, the name of the International Amateur Athletic Federation (IAAF) was changed to the International Association of Athletics Federations. And in 2019, the name was again changed to World Athletics.

Daily CA One- Liner: May 7

• The Central Government has launched the Cashless Treatment of Road Accident Victims Scheme, 2025, offering free trauma care up to ₹1.5 lakh for those injured in road accidents across India
• Union Civil Aviation Minister Rammohan Naidu Kinjarapu granted in-principle approval for two new Greenfield airports—one in Kota, Rajasthan, and the other in Puri, Odisha
• In a major step towards wildlife conservation, India’s first inter-state cheetah corridor is set to be developed across Madhya Pradesh and Rajasthan, spanning a total area of 17,000 sq km
• Maharashtra Chief Minister Devendra Fadnavis has announced the development of India's first EduCity in Navi Mumbai, aimed at hosting offshore campuses of prestigious global universities
• Telangana will host the 72nd Miss World pageant from May 10 to 31, 2025, in Hyderabad, featuring delegates from 120 countries and live broadcasts in over 150 nations
• At the 58th Asian Development Bank (ADB) Annual Meeting held in Milan, Indian Finance Minister Nirmala Sitharaman met Italian counterpart Giancarlo Giorgetti to advance the India-Italy Joint Strategic Action Plan 2025–2029.
• Coal India Ltd (CIL) has entered into a Memorandum of Understanding (MoU) with Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd (UPRVUNL) to establish a 500 MW solar power project in Uttar Pradesh
• India has made significant strides in the Human Development Index (HDI), climbing to 130th position in 2023, up from 133rd in 2022
• Amanpreet Singh of Punjab secured the gold medal in the 25m Centre Fire Pistol event with a score of 587 at the 23rd Kumar Surendra Singh Shooting Championship, held at the Madhya Pradesh Academy.
• The Reserve Bank of India (RBI) added nearly 58 tonnes of gold in the financial year 2024-25 (FY25), bringing its total gold reserves to 879.59 tonnes.
• Shri M. Nagaraju, Secretary of the Department of Financial Services, Ministry of Finance, listed India’s first Mortgage-Backed Pass-Through Certificates (PTC) on the National Stock Exchange (NSE) on 5th May 2025.
• Praveen Sood is set to receive a one-year extension as Central Bureau of Investigation (CBI) Director due to a lack of consensus in the selection committee on appointing a new Director.
• Parameswaran Iyer, an executive director at the World Bank, has been temporarily appointed as India’s nominee director on the International Monetary Fund (IMF) board.
• Greg Abel has been appointed as the new Chief Executive Officer (CEO) of Berkshire Hathaway Inc., effective January 1.
• Shri Prakash Magdum,1999-batch Officer of the Indian Information Service has assumed charge as the Managing Director (MD) of the National Film Development Corporation (NFDC).
• The Defence Research and Development Organisation (DRDO) and the Indian Navy have successfully conducted combat firing of the Multi-Influence Ground Mine (MIGM) with reduced explosive.
• INS Sharda has arrived at Maafilaafushi Atoll, Maldives, for a Humanitarian Assistance and Disaster Relief (HADR) exercise scheduled from 04 to 10 May 2025.
• Researchers have developed a cost-effective, metal-free porous organic catalyst for efficient hydrogen (H2) production by harvesting mechanical energy.
• A set of parachutes for the first uncrewed mission of India's Gaganyaan spaceflight program was shipped from Agra on May 5, 2025.
• Jochen Mass, former Formula 1 driver, passed away at the age of 78 due to complications from a stroke he suffered in February.
• World Athletics Day 2025 is celebrated on May 7.