🇮🇳 National News
On 2 May 2025, NITI Aayog (in collaboration with Institute for Competitiveness, Gurgaon) released ‘Enhancing MSMEs Competitiveness in India’ — a strategic roadmap for reforms in financing, skilling, innovation, and market access for India’s MSMEs.
| Indicator | 2020 | 2024 |
|---|---|---|
| MSEs accessing credit via scheduled banks | 14% | 20% |
| Medium enterprises accessing credit | 4% | 9% |
Only 19% of MSME credit demand was formally met in FY21, leaving an estimated ₹80 lakh crore unmet demand.
Separately, NITI Aayog and Global Alliance for Mass Entrepreneurship (GAME), Bengaluru, announced a collaboration to foster entrepreneurship ecosystems. Pilot projects will launch in Nagpur (Maharashtra), Visakhapatnam (AP), and Uttar Pradesh, focusing on place-based interventions.
On 2 May 2025, President Draupadi Murmu attended the ‘Ageing with Dignity — Initiatives for the Welfare of Senior Citizens’ event at Rashtrapati Bhawan Cultural Centre, organised by the Ministry of Social Justice and Empowerment (MoSJE).
- Senior Citizens Welfare Portal – A digital platform for seamless access to government schemes, healthcare, and welfare services for the elderly
- Five New Senior Citizens Homes – Virtually inaugurated in Tawang (AR), Wokha (Nagaland), Vellore (TN), Anakapalli (AP), and Nainital (Uttarakhand)
- Rashtriya Vayoshri Yojana (RVY) – Aids and assistive devices distributed; a Central Sector Scheme for BPL senior citizens, implemented by ALIMCO (Artificial Limbs Manufacturing Corporation) under MoSJE
- MoU – Signed between DoSJE and Brahmakumaris for inter-generational bonding and inclusive society building
Union Minister: Dr. Virendra Kumar (Tikamgarh, MP) | MoS: Dr. Ramdas Bandu Athawale (RS–Maharashtra) & B.L. Verma (Pratapgarh, UP)
Union Minister Nirmala Sitharaman inaugurated ‘Corporate Bhavan’ in New Town, Kolkata, West Bengal — a seven-storey facility (built-up area: ~13,239 sq m; cost: ₹150.43 crore) consolidating offices of the Ministry of Corporate Affairs (MCA).
- Offices Housed – Regional Directorate (East), ROC, SFIO, NCLT Kolkata Bench, IBBI, and the Official Liquidator
- India’s First PMIS Facilitation Centre – On the 7th floor, established with Confederation of Indian Industry (CII), to connect youth aged 21–24 with internship opportunities under the Prime Minister Internship Scheme (PMIS)
- Purpose – Single-window interface for companies, insolvency professionals, auditors, startups, and investors for timely corporate regulatory services
Union Minister Amit Shah unveiled a 9-feet life-size statue of Bodofa Upendranath Brahma and renamed Lala Lajpat Rai Road in south Delhi to Bodofa Upendranath Brahma Marg (835-metre stretch near Kailash Colony Metro Station) on his 35th death anniversary. Assam CM Himanta Biswa Sarma and Delhi CM Rekha Gupta were present.
‘Bodofa’ meaning ‘father of the Bodos’ — a visionary Assamese leader and social reformer who championed tribal rights, identity, and dignity through his philosophy of ‘Live and Let Live’. He united tribal communities and led peaceful advocacy for their upliftment.
🌐 International News
The USA approved a Foreign Military Sale (FMS) worth USD 131 million (~₹1,090 crore) to India to enhance maritime security in the Indo-Pacific, under the Indo-Pacific Maritime Domain Awareness (IPMDA) programme — a Quad (Australia, India, Japan, USA) joint initiative.
The Defence Security Cooperation Agency (DSCA) notified the U.S. Congress. Key components include:
- SeaVision software (with enhancements)
- Documentation and remote analytical support
- Technical Assistance Field Team (TAFT) training
- Logistical support | Primary contractor: Hawkeye 360 (Herndon, Virginia)
India is designated as a Major Defence Partner by the USA. The sale aims to strengthen India–USA strategic ties and enhance maritime surveillance for regional peace. US President: Donald Trump | Capital: Washington D.C.
Kozhikode, Kerala, officially joined the WHO Global Network for Age-Friendly Cities and Communities (GNAFCC), making it the 2nd Indian city after Kochi (2024) and the 2nd city in WHO South-East Asia Region (SEAR) after Wellawaya, Sri Lanka.
Established: 2010 | Currently includes 1,705 cities and communities across 60 countries. Coordinated by WHO’s Department of Social Determinants of Health (SDH), with support from the International Federation on Ageing (IFA), Toronto.
- Recognition Factors – Daycare centres, safe spaces for elderly, and senior citizen-specific seminars
- Dual Honour – Kozhikode’s second international recognition, after UNESCO City of Literature (2023)
DG: Dr. Tedros Adhanom Ghebreyesus | HQ: Geneva | Established: 7 April 1948
💼 Business & Economy
RBI released ‘Data on Services Trade for March 2025’ showing India’s exports of goods and services reached an all-time high of USD 824.9 billion in FY25 — up 6.01% from USD 778.1 billion in FY24.
| Category | FY24 | FY25 | Growth |
|---|---|---|---|
| Total Exports | USD 778.1 bn | USD 824.9 bn | +6.01% |
| Services Exports | USD 341.1 bn | USD 387.5 bn | +13.6% |
| Non-Petroleum Merchandise | USD 352.9 bn | USD 374.1 bn | +6% |
| Services (March 2025) | — | USD 35.6 bn | +18.6% YoY |
Key growth sectors: telecommunication, computer and information services, transport, travel, and financial services. RBI Governor: Sanjay Malhotra | HQ: Mumbai.
On 2 May 2025, S&P Global Ratings revised its report ‘Global Macro Update: Seismic Shift in US Trade Policy Will Slow World Growth’, cutting India’s FY26 GDP forecast by 20 bps to 6.3% (from 6.5% in March 2025). FY27 forecast cut by 30 bps to 6.5%.
| Agency | India FY26 Forecast | Change |
|---|---|---|
| IMF | 6.2% | –30 bps |
| World Bank | 6.3% | –40 bps |
| S&P Global | 6.3% | –20 bps |
| RBI | 6.5% | –20 bps |
Global growth forecast lowered 30 bps for both 2025 (to 2.2%) and 2026 (to 2.4%) — weakest since the GFC, excluding COVID-19. INR/USD projected to reach 88 by end-2025. S&P: President — Yann Le Pallec | HQ: New York | Founded: 1860.
👔 Appointments
Gyaneshwar Kumar Singh (1992-batch IP&TAFS officer) assumed charge as DG and CEO of IICA — a think tank under the Ministry of Corporate Affairs (MCA). This is his second tenure at IICA (first was 2017–18). He succeeded Dr. Ajay Bhushan Prasad Pandey (retired IAS).
- Joint Secretary, MCA
- CEO of IEPFA (Investor Education and Protection Fund Authority)
- Member, IBBI Governing Body
- Member Secretary, Insolvency Law Committee (2018–21)
- Played key role in developing National CSR Awards and reforming CSR rules
The Election Commission of India (ECI) appointed two senior officers to key roles:
- Rakesh Verma (1993-batch IAS, Punjab cadre) – DG of IIIDEM (India International Institute of Democracy and Election Management), New Delhi. Previously served as Additional Secretary, Department of Water Resources under MoJS, and in MoT.
- Ashish Goyal (1996-batch Indian Information Service – IIS) – DG Media, ECI. Previously DG of the National Museum (MoC) with additional charge as Director, Salar Jung Museum, Hyderabad.
Trains election officials and promotes democratic practices globally.
AIFF Annual Awards 2024–25 were announced at Bhubaneswar, Odisha:
| Award | Winner | Notable |
|---|---|---|
| Men’s Footballer of the Year | Subhasish Bose (Mohun Bagan Super Giant, WB) | First player from WB since Nabi (2012) |
| Women’s Footballer of the Year | Soumya Guguloth (East Bengal FC, Odisha) | First player from Telangana to win |
| Promising Men’s Player | Brison Deuben Fernandes (FC Goa) | 7 goals, 2 assists in ISL |
| Promising Women’s Player | Toijam Thoibisana Chanu | First centre-back ever to win this award |
AIFF President: Kalyan Chaubey | HQ: New Delhi | Founded: 1937
🕊️ Obituaries
Professor Sunny Thomas, former National Rifle Shooting Coach and first shooting coach to receive the Dronacharya Award (2001), passed away at age 83 in Uzhavoor, Kottayam, Kerala. Born: 1941, Kottayam.
He served as India’s national shooting coach for 19 years (1993–2012). Under his tenure, Indian shooters won:
- 4 Olympic medals — including Abhinav Bindra’s historic first individual Olympic gold (10m Air Rifle, Beijing 2008)
- Medals at 6 World Championships, 50+ World Cups, 6 Asian Games, and 5 Commonwealth Games
A five-time Kerala state champion and National Champion (1976), he joined the Kottayam Rifle Club in 1965. He was also an English Professor and took up coaching after retiring from academia in 1993.
Veteran Congress leader and former Union Minister Dr. Girija Vyas passed away at age 79 in Ahmedabad, Gujarat. Born: 1946, Nathdwara, Rajsamand, Rajasthan.
- Served three terms as Lok Sabha MP (1991, 1998, 2009)
- State Minister, I&B (1993–96, Narasimha Rao govt)
- Union Minister of Housing and Urban Poverty Alleviation (2013–14, Manmohan Singh govt)
- Served as Chairperson, National Commission for Women (NCW)
- President, Rajasthan Pradesh Congress Committee (RPCC)
- Political career began in 1977 as Udaipur DCC President
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