CURRENT AFFAIRS
03 March, 2025
1. INDIAN DIGITAL ECONOMY RANKED 28TH ON USER SPENDING: REPORT –
• The Indian Council for Research on International Economic Relations (ICRIER)’s Prosus Centre for Internet and Digital Economy (CIDE) recently released the third edition of the ‘State of India’s Digital Economy 2025 report.
• The Digital Economy refers to economic activities driven by digital technologies, internet connectivity, and data-based services.
• Key Components of the Digital Economy: Digital Infrastructure, E-Commerce & Online Services, Fintech & Digital Payments, Software & IT Services, etc.
2. INS TAMAL-
• INS Tamal commissioning in June 2025 will be a significant milestone in India’s naval self-reliance.
INS Tamal
• INS tamal is a state-of-the-art stealth guided missile frigate equipped with stealth technology to minimize radar detection.
• Krivak-III Class Upgrade : It is an enhanced version of the Russian-designed Krivak-class frigates.
• India-Russia Defense Collaboration: It is part of a $2.5 billion agreement for four stealth frigates; two constructed in Russia, two at Goa Shipyard Limited (GSL).
• Final Imported Warship : After INS Tamal, all future Indian warships will be designed and built domestically.
• INS Tushil Precedent : The first of this class, INS Tushil, was commissioned in December 2024.
• Built at Yantar Shipyard : Constructed in Russia, following the previous Krivak-class models.
3. INDIA’S ECONOMIC GROWTH IN Q3 OF FY 2024-25 –
• India’s economic growth has shown a remarkable improvement in the third quarter (Q3) of FY 2024-25, with the Real GDP increasing to 6.2%, up from an initially reported 5.4% in the previous quarter.
• This positive growth trajectory is reflected in the revised estimates, which project India’s Real GDP growth at 6.5% for the full financial year 2024-25. Furthermore, the Nominal GDP is expected to witness a growth rate of 9.9%, both of which are revised upwards from the First Advance Estimates.
• This article delves into the various aspects of India’s economic performance, sectoral contributions, and projected growth trends for FY 2024-25.
4. U.S.-UKRAINE RELATIONS ERUPT IN ACRIMONY: TRUMP AND VANCE BERATE ZELENSKY IN EXPLOSIVE OVAL OFFICE SHOWDOWN –
• The United States’ relationship with Ukraine reached a boiling point on Friday as President Donald Trump and Vice President JD Vance publicly berated Ukrainian President Volodymyr Zelensky during a highly charged televised meeting in the Oval Office.
• The visit, initially intended to coordinate a plan for peace in Ukraine’s ongoing war with Russia, devolved into an unprecedented public confrontation, marking one of the most acrimonious exchanges between an American president and a foreign leader in modern history.
5. SBI CUTS INDIA’S FY25 GDP GROWTH FORECAST TO 6.3% –
• India’s economic growth is expected to slow down in the fiscal year 2024-25, with the State Bank of India (SBI) revising its GDP growth estimate to 6.3%.
• This is lower than the Reserve Bank of India’s (RBI) projection of 6.6% and a significant drop from last year’s growth rate of 8.2%.
• The downgrade is attributed to weaker manufacturing growth and subdued private investment, both of which have raised concerns about the overall economic trajectory.
MCQ QUIZ
Q1. Which key economic indicator is adjusted for Purchasing Power Parity (PPP) to provide a more accurate comparison of living standards ?
a) Inflation Rate
b) Unemployment Rate
c) GDP Growth Rate
d) GDP per Capita
Q2. Who has been appointed as the 11th President of the Asian Development Bank (ADB) ?
a) Haruhiko Kuroda
b) Masatsugu Asakawa
c) Masato Kanda
d) Taro Aso
Q3. What is the tenure period for which Tuhin Kanta Pandey has been appointed as SEBI Chairman ?
a) Two years
b) Three years
c) Four years
d) Five years
Q4. Consider the following statements regarding the role of the President of India in appointing the Chief Justice of India (CJI):
1. The President can appoint the Chief Justice of India on the advice of the Prime Minister.
2. The President can reject the recommendation of the outgoing CJI for any reason.
3. The President appoints the CJI based on the Memorandum of Procedure, which is a guideline document.
Which of the above statements is/are correct ?
a) 3 only
b) 1 and 3 only
c) 2 and 3 only
d) 1, 2 and 3
Explanation-
• Statement 1 is incorrect because the Prime Minister does not play a role in the appointment of the CJI. The appointment is made based on the recommendation of the outgoing CJI, as specified in the Memorandum of Procedure.
• Statement 2 is incorrect because the President typically follows the recommendation of the outgoing CJI, and rejecting it would be against established conventions unless there are compelling reasons, which have rarely occurred.
• Statement 3 is correct because the Memorandum of Procedure (MoP) serves as the guideline document for the appointment of the CJI, ensuring a systematic and transparent process. The MoP outlines the steps, including the recommendation by the outgoing CJI, which the President adheres to when making the appointment.
Q5. Consider the following statements about the Mekong River:
1. The Mekong River is the longest river in Asia.
2. The Mekong River originates from the Tibetan Plateau and flows into the Bay of Bengal.
3. The entire length of the Mekong River is navigable year-round for large vessels.
How many of the above statements is/are incorrect ?
a) Only one
b) Only two
c) All three
d) None
Explanation-
• Statement 1 is incorrect because the Mekong is Asia’s third-longest river, not the longest (the Yangtze River is the longest in Asia).
• Statement 2 is incorrect because the Mekong River flows into the South China Sea, not the Bay of Bengal.
• Statement 3 is incorrect because the Mekong River is not navigable year-round for large vessels due to its natural barriers and seasonal changes.
Answer Key
1 | 2 | 3 | 4 | 5 |
D | C | B | A | C |