Current Affairs - March 1, 2025 Current Affairs

Boris Spassky was a Russian chess grandmaster, born in Leningrad (now St. Petersburg), Soviet Union. He became an International Grandmaster in 1955 and went on to become the 10th World Chess Champion in 1969. Although he later moved to France and represented the country in several chess tournaments, his origins and early career were rooted in Russia. Sadly, Spassky passed away at the age of 88, as confirmed by International Chess Federation (FIDE) general director Emil Sutovsky. His demise marks the end of an era in the chess world, where he left an indelible mark with his strategic brilliance, sportsmanship, and deep understanding of the game.

Zero Discrimination Day is observed every year on March 1 to advocate for equal rights and the inclusion of all individuals, free from discrimination. The day, launched by UNAIDS in 2014, emphasizes the importance of dignity, equality, and compassion for marginalized communities. The theme for 2025 is "We Stand Together," highlighting the role of community-led initiatives in supporting the HIV response and broader global health efforts. This day calls for actions to end stigma and discrimination, particularly for those affected by HIV, ensuring equal rights for everyone.

The current share of central tax revenues allocated to states is 41%. However, the Union government is considering reducing this share to at least 40% from the fiscal year 2026-27, aiming to address rising expenditure needs at the Centre. This proposal will be presented to the Finance Commission of India, and if approved, it could increase the Centre's revenue by approximately ₹350 billion. This move is part of the Centre's broader fiscal strategy amidst growing spending demands.

World Seagrass Day is celebrated annually on March 1 to raise awareness about the ecological importance of seagrass and to promote global conservation efforts. Seagrass plays a crucial role in maintaining marine ecosystems by supporting biodiversity, stabilizing coastlines, and acting as a carbon sink. The observance was officially declared by the United Nations General Assembly in 2022, following a resolution proposed by Sri Lanka. The goal is to emphasize the need to preserve seagrass to protect marine life and the environment.

Army Chief Gen Upendra Dwivedi laid a wreath at the Neuve-Chapelle Memorial in France, honouring the sacrifices of Indian soldiers during World War I. The memorial specifically commemorates the Indian troops' contributions to the 1915 Battle of Neuve-Chapelle. In addition to this tribute, Gen Dwivedi visited Airbus' Marignane facility and engaged with the French Army on defence modernization, underscoring the ongoing defence cooperation between India and France.

World Civil Defence Day is observed annually on March 1st to raise awareness about the importance of civil protection, disaster management, and emergency preparedness. It was established by the International Civil Defence Organization (ICDO) and the theme for 2025 is "Civil Defence, Guarantee of Security for the Population." This day was first observed in 1990, and it highlights the vital role of civil defence in ensuring public safety during emergencies.

The Central Board of Trustees (CBT) of the Employees' Provident Fund Organisation (EPFO) decided to retain the interest rate at 8.25% for Provident Fund deposits for the financial year 2024-25. Despite trade union representatives advocating for a higher rate, the government opted to maintain the current rate, emphasizing its stability and competitiveness compared to other fixed-income investment options. This rate continues to offer attractive returns, particularly due to the tax-free nature of the interest, making it a preferred investment for salaried individuals.

The Indian Air Force conducted Exercise Desert Hunt 2025 at Jodhpur from February 24-28, which involved Army Para SF, Navy MARCOS, and Air Force Garud commandos. The exercise was designed to test the combat readiness of the forces through various scenarios such as airborne insertion, precision strikes, counter-terrorism, and urban warfare. Its primary aim was to improve inter-service coordination and enhance national security preparedness by fostering closer cooperation among the different branches of the armed forces.

COP16, the 16th Conference of the Parties to the Convention on Biological Diversity (CBD), was held in Rome, where global leaders committed to securing $200 billion annually to protect biodiversity and implement the Kunming-Montreal Global Biodiversity Framework. The agreement also included the establishment of the Cali Fund to ensure fair benefit-sharing from genetic resource data. Additionally, the Global Environment Facility (GEF) allocated over $3 billion, leveraging a total of $22 billion for biodiversity conservation efforts worldwide.

The Centre has approved the development of a second airport in Telangana at Mamnoor, which is located near Warangal and is less than 150 km from Hyderabad. This decision is part of an initiative to enhance aviation infrastructure in the state, with an allocation of ₹205 crore to acquire 253 acres for the airport's development. A special waiver was also granted to bypass the 150 km restriction under the Hyderabad Greenfield Airport agreement.

NASA is preparing to launch the SPHEREx telescope, which is designed to create the most detailed and colourful map of the universe. The telescope will use infrared spectroscopy to analyze light in 96 bands, far beyond the range of human vision, and will map the entire sky. Unlike other telescopes like the James Webb Space Telescope, which focuses on small regions, SPHEREx will map large-scale areas to help scientists understand the formation of the universe, galaxy evolution, and the distribution of life-forming molecules.