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Daily Current Affairs 7th March 2025 Daily GK Update
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National News
Cabinet approves development of Ropeway Project from Sonprayag to Kedarnath in Uttarakhand
- Union Cabinet has approved the development of two major ropeway projects in Uttarakhand under the National Ropeways Development Programme – Parvatmala Pariyojana.
- The 12.9 km ropeway from Sonprayag to Kedarnath and the 12.4 km ropeway from Govindghat to Hemkund Sahib will significantly reduce travel time.
- The project will be developed on Design, Build, Finance, Operate and Transfer (DBFOT) mode at a total capital cost of Rs. 4,081.28 crore.
- The ropeway is planned to be developed in public-private partnership and will be based on the most advanced Tri-cable Detachable Gondola (3S) technology with a design capacity of 1,800 passengers per hour per direction (PPHPD) carrying 18,000 passengers per day.
- The ropeway project will be a boon to the pilgrims visiting Kedarnath as it would provide an environment-friendly, comfortable and fast connectivity and reduce travel time in one direction from about 8 to 9 hours to about 36 minutes.
- Kedarnath is one of the 12 sacred Jyotirlingas situated at an elevation of 3,583 m (11968 ft) in the Rudraprayag district of the State of UK.
Cabinet nod to livestock disease control programme with Rs 3,880 cr outlay
- The Union Cabinet has approved the revision of the Livestock Health and Disease Control Programme (LHDCP), with an outlay of ₹3,880 crore for two years.
- The scheme aims to improve the animal health sector by implementing prophylactic vaccination programmes against various diseases of livestock and poultry, capacity building, disease surveillance, and strengthening the veterinary infrastructure.
- The scheme has three components, namely the National Animal Disease Control Programme (NADCP), LH&DC and Pashu Aushadhi. The Pashu Aushadhi is a new component added to the LHDCP scheme. The total outlay of the scheme is Rs 3,880 crore for two years, i.e., 2024-25 and 2025-26.
- The programme also has three sub-components, namely: Critical Animal Disease Control Programme (CADCP), Establishment and Strengthening of Existing Veterinary Hospitals and Dispensaries – Mobile Veterinary Unit (ESVHD-MVU) and Assistance to States for Control of Animal Diseases (ASCAD).
- The scheme also has a provision of ₹75 crore to provide good quality and affordable generic veterinary medicine and incentive for sale of medicines under Pashu Aushadhi component. This is included in the total outlay of Rs 3,880 crore for the scheme.
CCI approves Shell’s 100% acquisition of Raj Petro Specialitie
- The Competition Commission of India (CCI) has approved the proposed acquisition of 100% equity share capital of Raj Petro Specialities Private Limited by Shell Deutschland GmbH and Shell Overseas Investments B.V.
- The proposed combination envisages acquisition of 100% equity share capital of Raj Petro Specialities Private Limited (Raj Petro Specialities), by Shell Deutschland GmbH and Shell Overseas Investments B.V.
- Shell Plc is the ultimate parent company of the Shell Group of companies. Shell Group is a global group of energy and petrochemical companies, active in oil and gas exploration, production, manufacturing, marketing and shipping of oil products and chemicals, as well as renewable energy products.
Govt launched model women-friendly gram panchayats nationwide
- The Ministry of Panchayati Raj has launched a groundbreaking initiative aimed at fostering gender-sensitive governance at the grassroots level.
- The initiative, which focuses on the development of Model Women-Friendly Gram Panchayats (MWFGP), unveiled at a National Convention, at Vigyan Bhawan, New Delhi.
- This event, a key part of the Ministry’s International Women’s Day 2025 celebrations, seeks to ensure safety, inclusivity, and gender equality for women and girls in Gram Panchayats across the country.
- The initiative aims to establish at least one Model Women-Friendly Gram Panchayat in each district, setting a benchmark for gender-sensitive and girl-friendly governance. These model panchayats will reflect Prime Minister Narendra Modi’s vision of fostering safer and more inclusive rural communities, contributing to the broader goal of Viksit Bharat through Viksit Panchayats.
Cheetah reintroduction plan to be expanded to Gujarat
- After Madhya Pradesh’s Kuno National Park, cheetah introduction will be expanded to Banni Grasslands in Gujarat and Gandhisagar Sanctuary of Madhya Pradesh.
- African cheetahs were reintroduced at Kuno National Park in two batches in September 2022 and February 2023.
- Banni Grasslands is a 2,500 sq km protected forest in the Kutch district of Gujarat that supports numerous animal genetic resources like Banni buffalo, Kankrej cattle, sheep, goats, camels, and horses.
- The grassland is a breeding and nesting ground for more than 250 bird species, including resident and winter migratory birds.
- Gandhisagar Sanctuary in eastern Madhya Pradesh spreads over Mandsaur and Neemuch districts. It is known as Nimar region, with borders touching Rajasthan and is more or less dry.
- The sanctuary is spread over the area surrounding Gandhisagar dam backwater, and is known for some rare wildlife species like wild dogs (dholes), chinkaras, leopards, otters and crocodiles.
- Under the “Action Plan for Reintroduction of Cheetah in India”, around 50 cheetahs are estimated to be brought from African countries to various national parks over five years.
Tata Motors begins India’s first hydrogen truck trials for net-zero goal
- In a landmark development towards India’s vision of achieving net-zero emissions by 2070, Tata Motors, the country’s largest commercial vehicle manufacturer, has launched the first-ever trials of hydrogen-powered heavy-duty trucks.
- The trial phase will span up to 24 months and involves the deployment of 16 advanced hydrogen-powered vehicles with varying configurations and payload capacities.
- These trucks, equipped with new-age hydrogen internal combustion engines (H2-ICE) and fuel cell (H2-FCEV) technologies, will be tested on India’s most prominent freight routes, including those around Mumbai, Pune, Delhi-NCR, Surat, Vadodara, Jamshedpur, and Kalinganagar.
- Tata Motors was awarded the tender for this trial, which is funded by the Ministry of New and Renewable Energy under the National Green Hydrogen Mission. It marks a significant step forward in assessing the real-world commercial viability of using hydrogen-powered vehicles for long-distance haulage as well as setting up the requisite enabling infrastructure for their seamless operation.
- The flagged-off vehicles exemplify Tata Motors’ comprehensive approach to hydrogen mobility, displaying both hydrogen internal combustion engine (H2-ICE) and hydrogen fuel cell electric vehicle (FCEV) technologies. This includes two Tata Prima H.55S prime movers—one powered by H2-ICE and the other by FCEV—alongside the Tata Prima H.28, an advanced H2-ICE truck.
- With an operational range of 300-500 km, these vehicles are engineered for sustainable, cost-efficient, and high-performance transportation
Sahitya Akademi organised “Festival of Letters” 2025
- Sahitya Akademi, India’s premier literary institution working under the Ministry of Culture, Government of India, will be organizing its annual Festival of Letters at Rabindra Bhavan in New Delhi from 7th March 2025 to 12th March 2025.
- Union Minister for Culture and Tourism Gajendra Singh Shekhawat, has inaugurated the festival.
- Sri Mahesh Dattani, eminent English Playwright will be the chief guest of the award ceremony in which the prestigious Sahitya Akademi Awards in 23 languages will be presented and Sri Upamanyu Chatterjee, eminent Writer and Scholar will deliver this year’s Samvatsar Lecture.
- This is Asia’s Largest Literature Festival with about 700 writers from different parts of the country representing more than 50 languages participating in the festival that spans over 100 sessions. The theme of the festival will be Indian Literary Traditions and a National Seminar on the topic featuring eminent thinkers and writers will be organized during the last three days of the festival.
Bhupender Yadav inaugurates World Sustainable Development Summit 2025
- Union Minister for Environment, Forest, and Climate Change, Bhupender Yadav has inaugurated the World Sustainable Development Summit (WSDS) 2025 in New Delhi.
- The summit-themed Partnerships for Accelerating Sustainable Development and Climate Solutions was Organised by The Energy and Resources Institute (TERI).
- The event was attended by distinguished dignitaries, including Prime Minister of Guyana, Brigadier Mark Phillip, and Brazil’s Minister of Environment and Climate Change, Marina Silva, were present at the event.
International News
India ranks 4th globally with 85,698 super rich, behind US, China and Japan
- India has emerged as a leading global wealth hub, with a current population of 85,698 High Net-Worth Individuals (HNWIs), placing it fourth globally, behind only the US, China, and Japan, according to the latest Global Wealth Report by property consulting firm Knight Frank.
- The number of HNWIs—defined as individuals with at least US$1 million in investable assets—rose by 4.4% globally in 2024, reaching over 2.3 million people. Notably, the population of ultra-high-net-worth individuals (UHNWIs), those with assets exceeding US$100 million, surpassed 100,000 for the first time, reflecting a broader trend of growing wealth across the world.
- America continues to dominate as the world’s primary wealth creator, with nearly 40% of global HNWIs residing in the US, a figure far surpassing China, which holds 20%, and Japan, which accounts for just over 5%.
Banking and Financial
SEBI’s total income rises 48% to ₹2,075 crore in 2023-24
- Capital markets regulator SEBI’s total income rose 48% year-on-year to ₹2,075 crore in 2023-24, driven by increased earnings from fees and subscriptions.
- Of the total income, the regulator earned a fee income of ₹1,851.5 crore, which was way higher than ₹1,213.22 crore garnered in the preceding financial year, according to Sebi’s annual statement of accounts 2023-24.
- Additionally, income from investments widened to ₹41 crore from ₹161.42 crore and other income increased to nearly ₹18 crore from close to ₹15 crore.
- Overall, the market watchdog’s total income rose to ₹2,075 crore in the financial year ended March 31, 2024 from ₹1,404.36 crore in the preceding fiscal, indicating a growth of 48%, the annual accounts showed.
- Apart from total income, the total expenditure of the regulator rose to ₹1,006 crore for the year ended March 31, 2024, from ₹33 crore in the previous fiscal.
CredResolve Secures $1.1 Million in Seed Funding Led by UNLEASH Capital to Revolutionize Debt Recovery with AI
- Gurugram-based AI-powered collections platform CredResolve raised $1.1 million in a seed funding round led by Japanese venture capital firm UNLEASH Capital Partners, with additional participation from CDM Capital.
- This funding is set to accelerate CredResolve’s mission of transforming debt recovery in India through artificial intelligence and regulatory-driven automation.
- Founded in August 2023 by Balaji Koustubha, G Prashant Kumar, and Vijay Kumar, CredResolve is redefining the collections ecosystem by integrating AI with borrower engagement strategies.
- Unlike traditional debt collection models, the platform enhances efficiency through automated recovery workflows, improved borrower communication, and compliance with RBI regulations.
Awards
Suborno Bose Receives Lifetime Achievement Award for Hospitality and Education
- Suborno Bose, Chairman of the International Institute of Hotel Management (IIHM), one of India’s foremost hospitality educators and a visionary in integrating technology with hospitality, has been honoured with the ‘Lifetime Achievement in Hospitality and Education Through Technology’ award by Union Tourism Minister Gajendra Shekhawat.
- The award was conferred at the Vibrant Bharat Global Summit 2025, an event organized by Bharat 24, one of the country’s leading language media networks.
- This prestigious recognition marks a significant milestone in Dr. Bose’s relentless efforts to revolutionize hospitality, tourism, and education through technology, particularly artificial intelligence (AI).
Recent Award
- Pritzker Architecture Prize 2025 – Chinese architect and educator Liu Jiakun
- Laureus World Sports Award 2025 (in comeback of the year category) – Rishabh Pant
- Icon of Excellence award at Forbes India Leadership Awards 2025 -ICC Chairman Jay Shah
- Sarvashrestha Suraksha Puraskar (Golden Trophy) – Manohar International Airport, Goa
- Time Magazine’s Women of the Year 2025 – Purnima Devi Barman
PM Modi conferred ‘Honorary Order of Freedom of Barbados’
- Union Minister Pabitra Margherita accepted the ‘Honorary Order of Freedom of Barbados’ on behalf of Prime Minister Narendra Modi.
- The award was given by Barbados President Dame Sandra Mason to recognize PM Modi’s leadership and support during the COVID-19 pandemic.
- The ceremony took place at Government House in Bridgetown and was attended by Barbadian Prime Minister Mia Amor Mottley, Foreign Minister Kerrie Symmonds, and other dignitaries.
- The award was announced on November 20, 2024, at the India-CARICOM Leaders’ Summit in Guyana. At the summit, PM Mottley praised PM Modi for his role in global cooperation and providing crucial support during the crisis.
Sports
Steve Smith retires from ODI cricket
- Australian cricket legend Steve Smith has officially announced his retirement from One-Day Internationals (ODIs), marking the end of an illustrious 14-year career in the 50-over format. He will continue to be available for Test and T20I selection.
- Smith’s decision came just after Australia’s semi-final defeat to India by four wickets in the ICC Champions Trophy, where Smith top-scored with 73 runs in what turned out to be his final ODI innings.
- The 35-year-old batter leaves behind an impressive legacy. Across 170 ODIs, scoring 5800 runs at an average of 43.28 and a strike rate of 86.96, including 12 centuries and 35 half-centuries. He finished his career as the 12th-highest run-getter for Australia in ODIs. Having made his debut as a leg-spinning allrounder, he also picked 28 wickets and took 90 catches.
- He captained Australia in 64 matches, winning 32 and losing 28.
Recently Retired Players
- Sharath Kamal – Table Tennis
- Martin Guptill (New Zealand) – International cricket
- Rishi Dhawan (India) – Cricket
- Moeen Ali (England) – International Cricket
- Shannon Gabriel (West Indies) – International Cricket
- Dawid Malan (England) – International Cricket
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