Current Affairs Today 5th February 2025 Daily GK Update

Daily Current Affairs 5th February 2025 Daily GK Update

Current Affairs Quiz 2025, Daily gk updates and Current affairs play a major role in any competitive exam. so here we are providing the current affairs quiz daily for Bank, SSC, Railway and Other Government Competitive Examinations.

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Budget 2025-26: At a Glance

Budget 2025-26: Credit guarantee cover for MSMEs, startups enhanced

• Finance Minister Nirmala Sitharaman, in her budget speech, announced an increase in the credit guarantee cover under the CGTMSE scheme for MSMEs and startups to facilitate easier access to formal credit.
• For micro and small enterprises, the cover has been enhanced from the current Rs 5 crore to Rs 10 crore leading to an additional credit of Rs 1.5 lakh crore in the next five years.
• For startups, the cover has been increased from the current Rs 10 crore to Rs 20 crore while reducing the guarantee fee to 1 per cent for loans in 27 focus sectors. Also, for well-run exporter MSMEs, the cover will be provided for term loans up to Rs 20 crore.
• FM Sitharaman also announced that customised credit cards for micro enterprises registered on the Udyam portal will be introduced with Rs 5 lakh limit. 10 lakh cards will be issued in the first year.
• The CGTMSE scheme, which provides guarantees to banks for collateral-free loans to micro and small enterprises (MSEs), had achieved the 1 crore guarantee mark in December last year.
• The fund, launched in 2000, currently enables collateral-free loans up to a limit of Rs 5 crore to MSEs with guarantee coverage up to 85 per cent for various categories of loans under the credit guarantee scheme.
• Sitharaman, had also revised the MSME definition to bring enterprises with turnover up to Rs 500 crore under the MSME ambit from the current Rs 250 crore. The investment limit for MSME classification will be made 2.5 times while turnover limits for MSME classification will be doubled.
• Revision in classification criteria for MSMEs

Union Budget 2025-26: AI, medical, and technical education get a major boost

• The Union Budget for 2025 has announced allocation of Rs 500 crore to create a Centre of Excellence in Artificial Intelligence (AI) dedicated to education. This initiative is set to significantly improve AI education and research at the university level, in line with India’s vision of ‘Industry 4.0’ and ‘Make in India, Make for the World.’
• The budget lays out plans for expanding infrastructure in five new Indian Institutes of Technology (IITs), aiming to welcome an additional 6,500 students over the next five years. These new IITs, situated in Jammu, Bhilai, Dharwad, Palakkad, and Tirupati, will receive upgrades to their facilities to support the growing student population. Moreover, IIT Patna is set for enhancements in its hostel and other facilities.
• Over the last decade, the total student enrollment across all 23 IITs has surged from 65,000 to 1.35 lakh, demonstrating the government’s dedication to developing educational infrastructure.
• The Union Budget also emphasises the expansion of medical education, planning to introduce 10,000 additional medical seats in the upcoming year. This effort is part of a larger ambition to increase the total number of medical seats by 75,000 within the next five years. In the past decade, around 1.1 lakh undergraduate and postgraduate medical education seats have been added, representing a remarkable 130 percent rise.
• Skill development is a key priority in the 2025 budget, with plans to establish five National Institutes of Excellence dedicated to skill enhancement. These institutes will offer global expertise and create partnerships aimed at improving job prospects for youth by equipping them with industry-relevant skills.
• Additionally, the government intends to set up 50,000 Atal Tinkering Labs in government schools over the next five years, promoting a scientific mindset among the younger generation.
• With an allocation of over Rs. 1.28 lakh crore for education, this year’s budget surpasses last year’s revised estimates. Rs. 50,067 crore is dedicated to higher education, while Rs. 78,572 crore is set aside for school education.
• Additionally, the Bharatiya Bhasha Pushtak initiative will introduce digital Indian language textbooks in schools and colleges, promoting linguistic diversity and accessibility in education.

Union Budget 2025-26: Jal Jeevan Mission extended till 2028

• Union Finance Minister Nirmala Sitharaman has announced an extension of the Jal Jeevan Mission (JJM) till 2028 (100% coverage), with an outlay of Rs 67,000 crore in the Union Budget 2025-26.
• However, the scheme saw a massive cut in allocation at the revised estimate (RE) stage during the current fiscal year 2024-25.
• Launched in August 2019, the JJM was aimed at providing functional household tap connections (FHTC) to provide 55 lpcd (litre per capita per day) drinking water to all rural households in the country by 2024.
• Since 2019, 15 crore households representing 80 per cent of India’s rural population have been provided access to potable tap water connections
• An amount of Rs 3,400 crore has been allocated for Namami Gange-II for 2025-26, which is a little higher as compared to the outlay of Rs 3,345.70 crore earmarked in the budget last year. No change has been made to the allocation of Swachh Bharat Mission (Gramin). It has been kept at Rs 7,192 crore for 2025-26.
• Among the other schemes of the Jal Shakti Ministry, the interlinking of rivers saw a cut at the RE stage as its allocation was revised to Rs 2,000 crore from Rs 4,000 crore in the budgetary estimate of 2024-25. For 2025-26, an allocation of Rs 2,400 crore has been kept for the interlinking of rivers programme.

Union Budget 2025-26: Centre Launches ₹16,021 Crore Power Reform Scheme to Boost State Infrastructure and Attract Private Investment

• The Central Government has introduced a scheme to incentivize states for improving their power infrastructure and opening it to private investment.
• The scheme allows additional borrowing of 0.5% of GSDP for states that implement power transmission and distribution reforms. A “Reforms Linked Distribution Scheme” with an allocation of ₹16,021 crore aims to attract private investment in the power transmission and distribution sector.
• The scheme promotes 24×7 sustainable power supply and a financially viable distribution sector by supporting reforms at the state level.
• Discoms adopting reforms like Public-Private Partnership (PPP) ownership and various franchise models at the distribution level will receive financial assistance.

Union Budget 2025-26: Centre unveils second asset monetization plan worth Rs 10 lakh crore for 2025-30

• Finance Minister Nirmala Sitharaman in the Union Budget 2025, has announced the launch of the second Asset Monetization Plan for the period 2025-30.
• This plan aims to generate Rs 10 lakh crore by monetizing government-owned assets and reinvesting the proceeds into new infrastructure projects.
• Launching the plan FM said “Building on the success of the first Asset Monetization Plan announced in 2021, the second Plan for 2025-30 will be launched to plough back capital of ` 10 lakh crore in new projects”.
• Apart from the Asset Monetization Plan, the government has also proposed a financial outlay of Rs 1.5 lakh crore for interest-free loans to states. These loans, with a tenure of 50 years, are aimed at boosting capital expenditure and incentivizing state-level infrastructure reforms.
• The initiative builds upon the first Asset Monetization Plan, which was introduced in the Union Budget 2021-22. Under that plan, the National Monetisation Pipeline (NMP) was formulated to list potential core assets of Central Government Ministries and Public Sector Enterprises (PSEs) for monetization between 2021-22 and 2024-25.

National News

Maharashtra makes Marathi mandatory for all official communication

• The Maharashtra government has made it mandatory for all officials in government and semi-government offices to speak only in Marathi.
• The planning department issued the notification, warning that employees who do not follow the directive will face disciplinary action. The decision applies to all communication, official signage, and documentation across the state.
• The rule applies to all government offices, semi-government offices, local self-government bodies, government corporations, and government-aided establishments.

About Maharashtra

• Capital – Mumbai
• Chief Minister – Devendra Fadnavis (3^rd time)
• Deputy Chief Minister – Eknath Sindhe & Ajit Pawar
• Governor – C P Radhakrishnan
• Legislative Assembly Speaker – Rahul Narwekar
• Legislative Assembly Seats – 288

Government introduces ‘Haj Suvidha App’ and strengthens healthcare support for Indian pilgrims

• The Government of India has taken significant steps to improve the Haj pilgrimage experience by introducing the ‘Haj Suvidha App’ and providing comprehensive healthcare services to Indian pilgrims, with a special focus on the elderly.
• Pilgrims can access important information such as training materials, accommodation details, flight schedules, baggage tracking, an emergency helpline (SOS), grievance redressal, and feedback.
• The app also offers language translation services and other essential information to enhance the pilgrim’s experience. For government officials overseeing Haj operations, the app provides real-time monitoring and emergency response tools, ensuring better coordination and accountability.

International News

International Big Cat Alliance officially comes into force as fully functional international legal entity

• The International Big Cat Alliance (IBCA) has officially come into force as a treaty-based, inter-governmental organisation, becoming a fully functional international legal entity on January 23.
• The Ministry of External Affairs (MEA), acting as the Depository for the Framework Agreement, confirmed that five countries – the Republic of Nicaragua, the Kingdom of Eswatini, the Republic of India, the Federal Republic of Somalia, and the Republic of Liberia – have deposited their instruments of ratification, acceptance, or approval, making them the founding members of the IBCA.
• What is the Big Cat Alliance?
• The IBCA was launched by Prime Minister Narendra Modi on April 9, 2023, during an event commemorating the 50th anniversary of Project Tiger. The initiative’s main objective is the conservation of seven major big cat species: the Tiger, Lion, Leopard, Snow Leopard, Cheetah, Jaguar, and Puma.
• In a cabinet meeting on February 29 last year, the government officially approved the establishment of the IBCA, with its headquarters based in India. The establishment of the IBCA was spearheaded by the National Tiger Conservation Authority (NTCA), a nodal organization under the Ministry of Environment, Forest & Climate Change (MoEFCC).
• As of now, 27 countries, including India, have agreed to join the IBCA, along with several international and national organizations dedicated to wildlife conservation.

Banking and Financial

TVS Holdings completes acquisition of Home Credit India for ₹554 crore

• TVS Holdings Ltd. has completed the acquisition of 80.74% equity stake in Home Credit India Finance Private Ltd. for ₹554 crore. The balance 19.26% of the equity stake has been purchased by Premji Invest and associates of TVS Holdings.
• This acquisition aligns seamlessly with TVS Holdings’ mission to strengthen its presence in the financial services sector.
• The acquisition of Home Credit was funded through a combination of proceeds from the recent sale of the company’s real estate assets and borrowings from capital markets.
• MD of TVS Holdings – Sudarshan Venu

CreditAccess Grameen secures USD 50 million commitment from IFC

• CreditAccess Grameen has secured approval for a USD 50 million commitment from the International Finance Corporation (IFC).
• This transaction is a testament to CA Grameen’s ongoing efforts to strengthen its asset liability management (ALM) position given flexible repayment structures and maintaining geographical diversification to hedge against market volatility.
• IFC’s investment will help enhance access to finance for microentrepreneurs with a particular focus on women borrowers engaged in agriculture and agri-related activities. The funding will help CA Grameen reach 3-4 million additional women borrowers over the lifecycle of the project.

Appointment

Bart De Wever sworn in as Belgium’s new Prime Minister

• In Belgium, Bart De Wever has been sworn in as the country’s new prime minister. The oath-taking ceremony took place before King Philippe of Belgium at the Royal Palace.
• De Wever’s coalition, consisting of five parties, includes seven francophone ministers and seven Flemish ministers in the new government.

Newly Appointed Prime Minister & President

• President of Belarus -Alexander Lukashenko
• PM of Ireland – Micheal Martin
• President of the United States – Donald Trump (47th)
• President of Venezuela -Nicolás Maduro
• President oof Lebanon – Joseph Aoun

Airtel’s Gopal Vittal named as acting chair of GSMA board

• Gopal Vittal, Vice Chairman and MD of telecom firm Bharti Airtel and Deputy Chair of GSMA, has been appointed as the acting chair of the GSMA (Groupe Spécial Mobile Association) board.
• The appointment came following the resignation of Jose Maria Alvares-Pallete, Chairman and CEO of Telefonica, from the company.
• The headquarters of the “Groupe Spécial Mobile Association” (GSMA) is located in London, England, UK

Recent Appointments

• DG of the Bureau of Civil Aviation Security (BCAS) – Rajesh Nirwan
• CEO of Vedanta Resources Ltd. – Deshnee Naidoo
• CEO of Reliance Power – Neeraj Parakh
• President of Institute of Company Secretaries of India (ICSI) for 2025 – Dhananjay Shukla as the
• Chairperson of the Executive Council of the Prime Ministers Museum and Library Society – Nripendra Mishra

Science and Techs

OpenAI launches ‘deep research’ tool after China’s DeepSeek shakes AI world

• OpenAI has launched a new “deep research” tool in ChatGPT to provide detailed, customized reports, raising the bar in the AI competition.
• The move comes in response to China’s DeepSeek chatbot, which has disrupted the AI landscape with advanced research capabilities.
• Users can access “deep research” by selecting the feature in the ChatGPT message composer and entering their query for comprehensive insights.
• The tool supports file and spreadsheet attachments, offering context for better responses, with a sidebar that tracks steps and sources used in generating the report.

Important day

4 February – World Cancer Day

• World Cancer Day is celebrated on February 4 every year to spread awareness and educate people about the prevention, detection, and treatment of this life-threatening disease.
• Theme 2024 – United by Unique
• This theme is part of a three-year campaign running from 2025 to 2027, focusing on the personal journeys of cancer patients, survivors, and caregivers. World Cancer Day was first introduced on February 4, 1999.
• The day is led by UICC and was established in the year 2000.

4 February – International Day of Human Fraternity

• The International Day of Human Fraternity is observed on February 4 every year to promote peace, tolerance, and mutual understanding among different cultures and religions.
• Theme 2025 – Human fraternity for world peace and living together
• International Day of Human Fraternity was established by the United Nations General Assembly in December 2020 to promote greater cultural and religious tolerance.
• The International Day of Human Fraternity was first celebrated by the United Nations on February 4, 2021.

1-7 February – World Interfaith Harmony Week

• World Interfaith Harmony Week has been observed on 1-7 February by the United Nations General Assembly (UNGA), and serves as a global initiative to promote mutual understanding, interfaith dialogue, and cooperation among different religious communities.
• It was launched in February 2011 to promote harmony among people of different faiths at a time when interreligious conflict is claiming lives and livelihoods all over the world.
• Theme 2025 – Uniting for Peace

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