Current Affairs March 2025: Latest News and Updates
Stay updated with the latest current affairs March 2025 for competitive exams like SSC, UPSC, Banking, Railways, and other government job exams. Here’s a quick glance at the top current affairs of March 2025 that will boost your General Knowledge (GK) preparation.
🔥 Top Headlines:
- India’s GDP Growth Rate 2025 projected at 6.5% by RBI.
- Oscar Awards 2025 Winners List announced.
- G20 Summit 2025 held in Brazil with a focus on climate change and digital economy.
- Ajay Bhadoo appointed as CEO of Government E Marketplace (GEM).
- Government approved PM Awas Yojana 2025 for urban housing development.
📌 Why Stay Updated with Current Affairs?
Current affairs play a crucial role in competitive exams and interviews. Regular updates help in cracking the General Awareness section, which is a game-changer in exams like Banking, Regulatory bodies, IBPS, SSC, UPSC, RRB, and State PCS.
🎯 How to Prepare Current Affairs for Exams?
- Follow Daily Current Affairs updates.
- Attempt Current Affairs Quiz 2025 on Whibuzz.
💪 Boost your exam preparation with Whibuzz – Your Ultimate Exam Preparation Platform.
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Prime Minister Narendra Modi Inaugurated Vantara, Animal Conservation Centre in Jamnagar, Gujarat, India
Vantara is a large-scale animal (wildlife) rescue center, cave, and conservation-and-rehabilitation center established by Reliance Industries with Reliance Foundation. It is located within the Reliance Jamnagar Refinery Complex in Jamnagar, Gujarat, India. This 3,000-acre sanctuary focuses on animal welfare and conservation. It was initiated by Anant Ambani, director on the boards of RIL and Reliance Foundation.
Key Facts About Gujarat
| Category | Details |
|---|---|
| Capital | Gandhinagar |
| Largest City | Ahmedabad |
| Formation Date | 1st May 1960 (Gujarat Day) |
| Governor | Acharya Devvrat |
| Chief Minister | Bhupendra Patel |
| Official Language | Gujarati |
| State Animal | Asiatic Lion |
| State Bird | Greater Flamingo |
| State Tree | Banyan Tree |
| State Dance | Garba |
| Major Rivers | Narmada, Tapi, Sabarmati |
| Famous Festivals | Navratri, Rann Utsav, Kite Festival |
| Important National Parks | Gir National Park, Blackbuck National Park |
| Major Ports | Kandla Port, Mundra Port |
| Popular Tourist Places | Somnath Temple, Rann of Kutch, Dwarka |
| Literacy Rate (2021 Census) | 78.03% |
| Economy Rank in India | 5th Largest State Economy |
| Major Industries | Diamond Polishing, Textiles, Chemicals |
H.E. Mr. Christian Stocker has been sworn in as the Federal Chancellor of Austria
The new government will have to deal with rising unemployment, a recession, and a creaking budget. Its coalition agreement, reached on Thursday after the longest negotiations in post-World War II Austria, foresees strict new asylum rules in the European Union country of 9 million people.
Key Facts About Austria
Capital– Vienna
Currency– Euro
President– Alexander Van Der Bellen
India bears a ₹94,172 crore hit from FTA tariff concessions in FY25
FTA Tariff Concessions and Customs Revenue Impact (FY25)
Overview of FTA Impact
| Category | Details |
|---|---|
| Customs Duties Forgone | ₹94,172 crore in FY25 |
| Major FTAs | ASEAN, Japan, South Korea |
| Top Revenue Loss Contributors | ASEAN (₹37,875 crore ), Japan(₹12,038 crore), South Korea (~₹10,335 crore) |
| Other Agreements | Australia, UAE, Malaysia |
Customs Revenue Projections
| Fiscal Year | Projected Customs Revenue | Growth Rate |
| FY25 | ₹2.4 trillion | 2.1% |
| FY26 | Estimated ₹2.4 trillion | 2.1% |
Ongoing Trade Negotiations
| Country | Negotiation Status | Expected Timeline |
| US | Multi-sector bilateral deal | Next 7-8 months |
| EU | Advanced negotiations | Deadline set for December |
| UK | Speedy discussions | No fixed deadline |
Import Impact
| Region | Current Import Share | Expected Import Share (Post-FTA) |
| FTA Partners | 25% | 60-65% |
| Australia & Japan | 80-90% | No significant change expected |
Policy Shift
| Traditional Role | Evolving Focus |
| Revenue Collection | Market Access |
| Infant Industry Protection | Domestic Industry Protection |
Key Takeaway
| Benefit | Trade-Off |
| Market Access | Reduced Customs Revenue |
| Lower Trade Barriers | Fiscal Sustainability Challenges |
Policymakers need to strategically balance tariff concessions with fiscal sustainability and domestic industry protection to maximize long-term economic benefits.
Shri Ajay Bhadoo Appointed as CEO of Government e Marketplace (GEM)
The Centre has appointed Additional Secretary in the Department of Commerce Ajay Bhadoo as the Chief Executive Officer (CEO) of Government e-Marketplace (GeM) with effect from March 3.
His appointment as CEO of GeM, India’s largest e-marketplace for government procurement, comes at a pivotal time as the platform transitions to a next-generation digital marketplace powered by Tata Consultancy Services (TCS). Currently, GeM has recorded a Gross Merchandise Value (GMV) of ₹4.58 lakh crore, reflecting a 28.65% year-on-year growth.
Key Facts about Government e-Marketplace (GeM)
| Topic | Description |
|---|---|
| Full Form | Government e-Marketplace |
| Launched | August 9, 2016 |
| Ministry | Ministry of Commerce and Industry |
| Purpose | Online platform for procurement of goods and services by Government organizations |
| Objective | Promote transparency, efficiency, and ease of procurement |
| Managed by | GeM SPV (Special Purpose Vehicle) – a 100% Government-owned company |
| Registration | Open to Government Buyers and Verified Sellers |
| Benefits | Paperless, Cashless, and Contactless procurement process |
| Mandatory Use | Mandatory for Central Government Ministries and Departments |
| Key Features | e-Bidding, Reverse Auction, Direct Purchase, Price Comparison |
| Mobile App Availability | Yes (Android & iOS) |
| Website | gem.gov.in |
| Slogan | Transparent, Inclusive, and Efficient |
HIMASHIELD 2024 Grand Challenge
The HIMASHIELD 2024 Grand Challenge, organized by (Centre for Development of Advanced Computing) C-DAC Thiruvananthapuram under Ministry of Electronics and Information Technology research initiatives, successfully concluded on National Science Day (28 February) in Thiruvananthapuram. Aimed at fostering innovation in Glacier Lake Outburst Flood (GLOF), the challenge provided a platform for young researchers and innovators to develop indigenous, sustainable solutions to tackle this critical environmental challenge. Launched on august 24, 2024
| Position | Team Name | Institute | Prize Money | Awards |
|---|---|---|---|---|
| Winner | GlofsenseTeam | Bannari Amman Institute of Technology, Sathyamangalam, Tamil Nadu | ₹5 Lakhs | Trophy & Certificates |
| First Runners-up | CryoWizardsTeam | Birla Institute of Technology, Mesra | ₹3 Lakhs | Trophy & Certificates |
| Second Runners-up | CryoSenseTeam | IIT Bhubaneswar | ₹2 Lakhs | Trophy & Certificates |
Sebi permits all NBFCs, HFCs to invest in security receipts by Asset Reconstruction Companies
SEBI has allowed all Non-Banking Financial Companies (NBFCs), including Housing
Finance Companies (HFCs), to invest in security receipts (SRs) issued by Asset
Reconstruction Companies (ARCs) . To boost investments in the bad loans market and improve liquidity in distressed assets.
AT first, Only non-deposit-taking NBFCs with an asset size of ₹50 crore and above
were allowed to invest in SRs but now all NBFCs and HFCs can invest in SRs, widening the scope of participation.
As of the latest available data, India has a significant number of Non-Banking Financial Companies (NBFCs) and Housing Finance Companies (HFCs).
| Category | Number of Companies |
|---|---|
| NBFCs | Approximately 9,480 |
| HFCs | Over 100 |
Energy Statistics India Report 2025 Released by NSO
The NSO, under the Ministry of Statistics and Programme Implementation, has released Energy Statistics India 2025 on its website (www.mospi.gov.in). This publication provides key data on India’s energy reserves, production, consumption, and trade. It includes energy balance tables, graphs, and sustainable energy indicators. A new chapter on Energy Account, based on the SEEA 2012 framework, presents asset accounts and supply-use tables for FY 2022-23 and FY 2023