As of March 2, 2025, many big events are happening around the world. These events affect different areas like global relations, government policies, money matters, and the environment. They are important for students preparing for exams like UPSC, SSC, Banking, and other government tests in India. This article explains these events in detail. It also adds history and past examples to help you understand better.
International Relations
2025 London Summit on Ukraine
On March 2, 2025, a key meeting happened in London to make a peace plan for Ukraine. UK Prime Minister Keir Starmer led it. Leaders like Ukrainian President Volodymyr Zelenskyy and Canadian Prime Minister Justin Trudeau joined. Starmer said Europe’s security is at a rare and critical point. This summit matters because the Russia-Ukraine war started in 2014 when Russia took Crimea. Fighting grew worse in 2022 after Russia invaded more areas. Many countries, including India, have called for peace since then. This meeting could shape Europe’s future and global safety, which is a big topic for UPSC exams.
U.S. Tariffs and Trade Policies
The U.S., led by President Donald Trump, announced new tariffs on goods from Canada, Mexico, and China. The tariff rates are not final yet. Experts at the Peterson Institute say this could cost American families $1,200 extra each year. But the U.S. government says past tariffs did not raise prices much. Historically, Trump used tariffs in his first term (2017-2021) against China to protect U.S. jobs. This led to a trade war, affecting global markets. India felt it too, as exports like steel faced challenges. For Banking and SSC exams, understanding trade policies is key because they impact India’s economy.
India-European Union Free Trade Agreement
Indian Prime Minister Narendra Modi and European Commission President Ursula von der Leyen agreed to speed up a Free Trade Agreement (FTA) between India and the EU by the end of 2025. The EU is India’s biggest trading partner. Trade between them hit $137.5 billion in 2023-24, up 90% in ten years. Talks for this FTA began in 2007 but stopped in 2013 due to disagreements. They restarted in 2021 as both sides saw benefits. This deal could boost India’s exports, like textiles and medicines, and create jobs. For UPSC aspirants, this shows India’s growing role in world trade.
Domestic Affairs
U.S. Government Shutdown Looms
In the U.S., Congress has until March 14, 2025, to avoid a government shutdown. President Trump is causing delays by ignoring spending rules and stopping foreign aid. Democrats want job protections, but Republicans disagree, saying it limits the President’s power. If no deal happens, many workers could lose jobs, and basic services might stop. This happened before in 2018-19 when a shutdown lasted 35 days over a border wall dispute. India watches this closely because U.S. aid and policies affect global stability, a topic for UPSC and SSC exams.
SEBI Leadership Change in India
Tuhin Pandey, who was India’s Revenue Secretary, is now the new Chairman of the Securities and Exchange Board of India (SEBI). He replaced Ajay Tyagi. SEBI was set up in 1988 and became stronger in 1992 to protect investors and control stock markets. Past leaders like U.K. Sinha (2011-2017) made rules stricter after scams like Satyam in 2009. Pandey’s job is to keep India’s financial system safe and growing. This is important for Banking exam students who study regulators like SEBI.
Economic Developments
Financial Changes in the United Kingdom
In March 2025, the UK is seeing many money-related changes:
- Train Fare Hikes: Train tickets went up by 4.6% on March 2. This affects daily travelers. Historically, UK fares have risen almost yearly since the 1980s.
- Bank of England Base Rate Decision: On March 20, the Bank of England will set the base rate. This affects loans and savings. The rate was cut in 2020 during COVID-19 to help people.
- Spring Budget Announcement: On March 26, Chancellor Rachel Reeves will share the budget. Budgets have shaped UK taxes since the 1700s.
- Household Support Fund Conclusion: This fund, started in 2021 for poor families, ends on March 31.
- Winter Fuel Payment Claims Deadline: March 31 is the last day for this cold-weather aid, begun in 1997.
- Universal Credit Migration: By March 31, old benefits switch to Universal Credit, a system started in 2013.
- Stamp Duty Threshold Changes: House-buying taxes change after March 31. This tax began in 1694.
These changes show how governments handle money, a key topic for Banking exams.
EPFO Interest Rate in India
The Employees’ Provident Fund Organisation (EPFO) kept the interest rate at 8.25% for 2024-25. EPFO, started in 1952, helps workers save for retirement. Its rate was as high as 12% in the 1980s but dropped over time. This decision affects millions of Indian workers. It shows EPFO’s financial strength. For SSC and Banking students, this links to government schemes and economic stability.
Environmental Concerns
Tropical Cyclone Alfred in Australia
Tropical Cyclone Alfred hit Australia in March 2025. It caused big problems:
- Brisbane Ferry Services Suspended: Ferries in Brisbane stopped due to strong winds and rain. The cyclone may hit Queensland and New South Wales.
- Government Warnings: Queensland Premier David Crisafulli said it could flood a large area. People from Bundaberg to the Gold Coast are preparing.
Cyclones are common in Australia. Cyclone Tracy in 1974 destroyed Darwin, showing their power. Climate change is making them worse. For UPSC, this connects to global warming and disaster management.
Olive Ridley Turtle Conservation
The Olive Ridley turtle population is growing due to better protection. Nesting sites are safer, and fishing threats are lower. These turtles come to India’s coasts, like Odisha, every year. The 1990s saw big deaths from fishing nets, but laws since 2000 helped. Global efforts, like the 1973 Endangered Species Act, also matter. This success is a good example of conservation for UPSC environment questions.
Political Developments
Australian Political Nominations
- Gibson Seat Nomination: Ms. Fleming, Deputy Mayor of Brighton ward, is the Liberal candidate for Gibson in the March 2026 election. She focuses on costs and health. Australia’s Liberal Party has been key since 1944.
- Spence Seat Nomination: Daniel Wild, from a think tank, will run for Spence, a Labor area. He targets power prices. Labor has held power often since the 1900s.
Elections shape policies, a topic for UPSC’s international politics section.
Tajikistan Parliamentary Elections
Tajikistan will hold elections on March 2 and 28, 2025, for its Assembly. It uses both direct and party-based voting. Tajikistan became independent in 1991 after the Soviet Union fell. Its elections often favor the ruling party, led by President Emomali Rahmon since 1994. For UPSC, this shows how small nations run their governments.
Legal and Judicial Updates
Supreme Court of India’s Ruling on Arrest Powers
India’s Supreme Court stopped customs and GST officers from making random arrests. It said rules must be followed to protect people. In the past, cases like the 1994 DK Basu judgment set arrest guidelines. This ruling strengthens rights, a big topic for UPSC’s law and governance sections.
NCLAT Decision on Coffee Day Enterprises
The National Company Law Appellate Tribunal (NCLAT) ended bankruptcy cases against Coffee Day Enterprises. This helps the company keep running. Coffee Day faced trouble after its founder’s death in 2019 and debts grew. NCLAT, formed in 2016, handles such
Check out this related article: Daily current affairs quiz questions English 3rd March 2025
business disputes. This is useful for Banking exams on financial laws.current affairs quiz questions
Question 1: Who hosted the pivotal summit in London aimed at formulating a peace plan for Ukraine?
Option 1: Volodymyr Zelenskyy
Option 2: Keir Starmer
Option 3: Justin Trudeau
Option 4: Narendra Modi
Option 5: Ursula von der Leyen
Answer: Option 2
Explanation: UK Prime Minister Keir Starmer convened the summit in London to address the Ukraine conflict, with leaders like Zelenskyy and Trudeau in attendance. Starmer highlighted Europe’s security as a pressing concern. This event underscores the UK’s leadership in mediating international crises, reflecting its strategic position post-Brexit and its influence in NATO.
Question 2: What is the estimated annual cost to American households due to the new U.S. tariffs, as per the Peterson Institute?
Option 1: $800
Option 2: $1,000
Option 3: $1,200
Option 4: $1,500
Option 5: $2,000
Answer: Option 3
Explanation: The Peterson Institute for International Economics estimates that new U.S. tariffs on Canada, Mexico, and China could cost American households $1,200 yearly. This projection highlights the potential ripple effects on global trade, including higher costs for imported goods like electronics and automobiles, which could also indirectly influence India’s export markets.
Question 3: Which two leaders agreed to expedite the India-EU Free Trade Agreement in 2025?
Option 1: Narendra Modi and Keir Starmer
Option 2: Narendra Modi and Ursula von der Leyen
Option 3: Donald Trump and Ursula von der Leyen
Option 4: Volodymyr Zelenskyy and Narendra Modi
Option 5: Justin Trudeau and Keir Starmer
Answer: Option 2
Explanation: Indian PM Narendra Modi and European Commission President Ursula von der Leyen committed to finalizing the India-EU FTA by the end of 2025. With bilateral trade at $137.5 billion in 2023-24, this agreement could reduce tariffs on Indian exports like textiles and pharmaceuticals, enhancing India’s economic integration with Europe and boosting job creation.
Question 4: What is the main reason for the potential U.S. government shutdown looming in March 2025?
Option 1: Disagreement over tax reforms
Option 2: President Trump ignoring spending laws
Option 3: A new healthcare policy
Option 4: Funding for climate change projects
Option 5: Military budget cuts
Answer: Option 2
Explanation: The U.S. Congress faces a deadlock due to President Trump bypassing spending laws and halting foreign aid, risking a shutdown by March 14, 2025. This reflects a recurring tension between executive and legislative powers in the U.S., a situation that could disrupt international aid programs and affect global economic stability, including India’s strategic interests.
Question 5: Who succeeded Ajay Tyagi as the Chairman of SEBI in India?
Option 1: Tuhin Pandey
Option 2: U.K. Sinha
Option 3: Narendra Modi
Option 4: Rachel Reeves
Option 5: David Crisafulli
Answer: Option 1
Explanation: Tuhin Pandey, previously India’s Revenue Secretary, replaced Ajay Tyagi as SEBI Chairman. With his background in fiscal policy, Pandey is expected to strengthen oversight of India’s stock markets, which have grown significantly since SEBI’s inception in 1988, especially after major reforms following the 1992 Harshad Mehta scam.
Question 6: What percentage did UK train fares increase by, effective from March 2, 2025?
Option 1: 3.2%
Option 2: 4.6%
Option 3: 5.1%
Option 4: 6.0%
Option 5: 7.5%
Answer: Option 2
Explanation: Train fares in the UK rose by 4.6% on March 2, 2025, impacting daily commuters. This hike aligns with the UK’s historical trend of annual fare increases, often linked to inflation and infrastructure funding, offering a glimpse into how advanced economies balance public transport costs and economic pressures.
Question 7: What interest rate did EPFO set for the 2024-25 fiscal year?
Option 1: 7.5%
Option 2: 8.0%
Option 3: 8.25%
Option 4: 8.5%
Option 5: 9.0%
Answer: Option 3
Explanation: The Employees’ Provident Fund Organisation (EPFO) maintained the interest rate at 8.25% for 2024-25. This stability benefits millions of Indian workers by ensuring predictable retirement savings, reflecting EPFO’s role as a cornerstone of India’s social security system since its establishment in 1952.
Question 8: Which Australian city suspended all ferry services due to Tropical Cyclone Alfred?
Option 1: Sydney
Option 2: Melbourne
Option 3: Brisbane
Option 4: Perth
Option 5: Canberra
Answer: Option 3
Explanation: Brisbane suspended all CityCat and ferry services due to Tropical Cyclone Alfred’s damaging winds and heavy rainfall. This disruption showcases Australia’s vulnerability to extreme weather, a growing concern as cyclones become more frequent, impacting urban planning and disaster preparedness in coastal regions.
Question 9: What has led to the rise in Olive Ridley turtle population?
Option 1: Advanced fishing technology
Option 2: Protection of nesting sites
Option 3: Increased ocean pollution
Option 4: New trade policies
Option 5: Reduced rainfall
Answer: Option 2
Explanation: Enhanced protection of nesting sites and reduced fishing threats have boosted Olive Ridley turtle numbers. In India, Odisha’s mass nesting events (arribadas) have benefited from conservation measures like fishing bans, demonstrating how targeted efforts can reverse biodiversity decline and support ecological balance.
Question 10: Who is the Liberal candidate for the Gibson seat in Australia’s 2026 election?
Option 1: Daniel Wild
Option 2: Ms. Fleming
Option 3: David Crisafulli
Option 4: Rachel Reeves
Option 5: Tuhin Pandey
Answer: Option 2
Explanation: Ms. Fleming, Deputy Mayor of Brighton ward, is the Liberal candidate for Gibson in the March 2026 election, focusing on rising costs and healthcare. Her nomination reflects the Liberal Party’s strategy to address local issues, a contrast to its broader national policies since its founding in 1944.
Question 11: When are Tajikistan’s parliamentary elections scheduled for 2025?
Option 1: March 1 and 15
Option 2: March 2 and 28
Option 3: March 10 and 20
Option 4: March 15 and 30
Option 5: March 25 and 31
Answer: Option 2
Explanation: Tajikistan’s parliamentary elections are set for March 2 and 28, 2025, to elect its Assembly members. This two-phase process, combining direct and proportional voting, illustrates Tajikistan’s political structure, shaped by its post-Soviet transition and dominated by President Emomali Rahmon since 1994.
Question 12: What did the Supreme Court of India restrict to safeguard citizens from power misuse?
Option 1: Tax collection methods
Option 2: Arbitrary arrest powers of customs officers
Option 3: New trade policies
Option 4: Environmental laws
Option 5: Banking regulations
Answer: Option 2
Explanation: The Supreme Court limited the arbitrary arrest powers of customs and GST officers, emphasizing procedural safeguards. This ruling reinforces India’s judicial commitment to protecting individual rights, building on precedents like the 1994 DK Basu case, which established guidelines for arrests.
Question 13: Which company gained relief from NCLAT dismissing its bankruptcy proceedings?
Option 1: Tata Steel
Option 2: Coffee Day Enterprises
Option 3: Reliance Industries
Option 4: Infosys
Option 5: Adani Group
Answer: Option 2
Explanation: NCLAT dismissed bankruptcy cases against Coffee Day Enterprises, allowing it to continue operations after financial distress following its founder’s death in 2019. This decision underscores the role of India’s insolvency framework in supporting corporate recovery, a critical aspect of economic governance.
Question 14: What is the primary goal of the India-EU FTA being finalized in 2025?
Option 1: Reducing India’s exports
Option 2: Enhancing economic ties
Option 3: Boosting military cooperation
Option 4: Ending all EU trade
Option 5: Benefiting only the EU
Answer: Option 2
Explanation: The India-EU FTA seeks to strengthen economic ties and cooperation, with trade reaching $137.5 billion in 2023-24. This agreement could open European markets further for Indian goods, fostering mutual growth and reducing dependency on other trading blocs like China.
Question 15: Why does India closely monitor the potential U.S. government shutdown?
Option 1: It boosts India’s exports
Option 2: It impacts global stability
Option 3: It halts U.S. imports
Option 4: It only affects Canada
Option 5: It raises India’s taxes
Answer: Option 2
Explanation: India tracks the U.S. shutdown due to its influence on global stability, as U.S. policies shape international markets and geopolitics. A shutdown could disrupt aid flows and trade agreements, potentially affecting India’s economic and diplomatic strategies.
Question 16: Which past U.S. event is similar to the current shutdown threat in 2025?
Option 1: 2008 financial crisis
Option 2: 2018-19 shutdown
Option 3: 2020 COVID-19 lockdown
Option 4: 1991 Gulf War
Option 5: 2013 debt ceiling crisis
Answer: Option 2
Explanation: The 2018-19 U.S. shutdown, lasting 35 days over a border wall dispute, parallels the current threat. Both instances highlight fiscal policy conflicts, offering insights into how political standoffs can disrupt governance and international relations.
Question 17: Which UK policy ending on March 31, 2025, may impact vulnerable households?
Option 1: Spring Budget
Option 2: Household Support Fund
Option 3: Train Fare Hikes
Option 4: Universal Credit
Option 5: Base Rate Decision
Answer: Option 2
Explanation: The Household Support Fund, aiding low-income families since 2021, ends on March 31, 2025. Its closure could strain welfare systems, reflecting broader challenges in balancing economic recovery and social support in post-pandemic economies.
Question 18: What is a major campaign issue for Daniel Wild in the Spence seat election?
Option 1: Improving education
Option 2: Reducing power prices
Option 3: Building hospitals
Option 4: Increasing taxes
Option 5: Enhancing trade
Answer: Option 2
Explanation: Daniel Wild, contesting Spence, targets high power prices in South Australia. This focus addresses a pressing local concern, as energy costs influence economic competitiveness and voter sentiment, offering a window into Australia’s regional political dynamics.
Question 19: How does climate change relate to Tropical Cyclone Alfred’s impact?
Option 1: It weakens cyclones
Option 2: It has no effect
Option 3: It intensifies cyclones
Option 4: It prevents cyclones
Option 5: It only changes rainfall
Answer: Option 3
Explanation: Climate change intensifies cyclones like Alfred, increasing their destructive potential through warmer oceans and higher moisture levels. This trend poses challenges for disaster management and infrastructure resilience, particularly in vulnerable regions like Australia’s southeast.
Question 20: Which global law aided Olive Ridley turtle conservation efforts?
Option 1: 1973 Endangered Species Act
Option 2: 1994 DK Basu Judgment
Option 3: 2000 Fishing Act
Option 4: 1988 SEBI Act
Option 5: 2016 NCLAT Formation
Answer: Option 1
Explanation: The 1973 Endangered Species Act bolstered global conservation efforts for Olive Ridley turtles by protecting endangered species and their habitats. Its impact extends to India, where coordinated measures have reduced threats, showcasing international cooperation in biodiversity preservation.
These questions provide a balanced mix of factual and analytical challenges, enriched with contextual value to aid exam preparation. The explanations offer deeper insights into global and national implications, enhancing understanding for competitive exams.
