Daily News One Liner: 05-May-2025
- The Bihar government allocated ₹15,343 crore in power subsidies for the fiscal year 2024-25 to provide affordable electricity to consumers.
- India’s total exports reached a record $824.9 billion in 2024–25, marking a 6.01% growth over the previous year
- DRDO successfully conducted the maiden flight-trial of the Stratospheric Airship Platform on May 3, 2025, enhancing India’s high-altitude surveillance capabilities.
- Union Finance Minister Smt. Nirmala Sitharaman is attending the 58th Annual Meeting of the Asian Development Bank (ADB) in Milan, Italy, from May 4 to 7, 2025, leading the Indian delegation
- The Open Network for Digital Commerce (ONDC) and the National Restaurant Association of India (NRAI) are collaborating to establish a robust framework that empowers food businesses to thrive in the digital marketplace.
- Tejas Networks has completed the supply of telecom equipment to BSNL under a ₹7,492 crore contract, facilitating the setup of 1 lakh 4G and 5G sites across
- Anil Ambani’s Reliance Power, through its subsidiary Reliance NU Suntech, is set to invest ₹10,000 crore in Asia’s largest solar-plus-battery energy storage system (BESS) project under a 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI).
- TCS and IBM, in collaboration with the Andhra Pradesh government, are establishing India’s largest quantum computer at the Quantum Valley Tech Park in Amaravati, featuring IBM’s 156-qubit Heron processor.
- The Reserve Bank of India’s (RBI) working group recommends extending call money market hours to 7 PM and synchronizing repo market timings, while retaining current hours for government securities and forex markets.
- S&P Global Ratings has reduced India’s FY26 GDP growth forecast to 6.3%, citing global trade uncertainties stemming from US tariff hikes and potential retaliatory measures.
- The Indian rupee briefly appreciated to a seven-month high of 83.76 against the US dollar before retreating, as the Reserve Bank of India intervened by purchasing $3 billion to bolster foreign exchange reserves.
- Jana Small Finance Bank is set to apply for a universal banking licence this month, joining peers like AU Small Finance Bank and Ujjivan Small Finance Bank in seeking Reserve Bank of India approval.
- India and Belgium have engaged in discussions to enhance bilateral trade and investment, focusing on strategic sectors such as semiconductors, clean energy, defence production, and pharmaceutical
- The Odisha government has approved 19 investment projects totaling ₹3,898 crore, expected to generate employment for over 7,400 individuals across various sectors.
- Cloud seeding trials in Delhi may cost Rs 1.5 crore each; IIT Kanpur to handle operations, as per government officials.
- OPEC+ has agreed to accelerate oil production hikes for June 2025 by 411,000 barrels per day, despite concerns over weak global demand and falling oil prices
- Singapore’s ruling People’s Action Party (PAP), led by Prime Minister Lawrence Wong, secured 87 out of 97 parliamentary seats in the 2025 general election, reaffirming its dominance with a two-thirds majority.
- Dr. Poonam Gupta has been appointed as the Deputy Governor of the Reserve Bank of India for a three-year term, effective from April 2, 2025.
- Arvind Shrivastava, a 1994-batch Karnataka-cadre IAS officer, has been appointed as the new Revenue Secretary in the Union Ministry of Finance, succeeding Ajay Seth
- World Press Freedom Day 2025 was observed on May 3, with the theme “Reporting in the Brave New World: The Impact of Artificial Intelligence on Press Freedom and the Media,” highlighting the challenges and opportunities AI presents to journalism
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