Welcome to Daily Current Affairs for 03 March 2026. In this article, you will get the most important national and international current affairs with short explanations. Additionally, you will find exam-important one-liners and MCQs for UPSC, SSC, Banking, Railways and State government exams.
1. India, Canada Launch CEPA Talks; Target $50 Billion Trade by 2030
India and Canada have formally launched negotiations for a Comprehensive Economic Partnership Agreement (CEPA) in New Delhi. The Terms of Reference (ToR) were signed by Commerce Minis
ter Piyush Goyal and Canada’s Trade Minister Maninder Sidhu in the presence of Prime Ministers Narendra Modi and Mark Carney. The ToR outlines the framework and approach for negotiations. PM Modi set a bilateral trade target of $50 billion by 2030, aiming to deepen economic cooperation. Both sides described the proposed CEPA as ambitious, balanced, and mutually beneficial.
2. Mandaviya Releases “Mahatma: A Great Communicator” at Rajghat 
Union Minister Dr. Mansukh Mandaviya released the book “Mahatma: A Great Communicator” at Gandhi Darshan, Rajghat. Authored by Dr. Dhiraj Kakadia, the book highlights Mahatma Gandhi’s communication skills during the freedom movement and his use of non-violence as a powerful tool against British rule. Dr. Mandaviya said the book will inspire people to follow Gandhian ideals and contribute towards Viksit Bharat. Published in Hindi, English, and Gujarati, the event was attended by senior officials including Avinash Joshi, Bhupendra Kainthola, and Harshad Patel.
3.Department of Fertilisers Reaffirms Seva Sankalp, Emphasises Humility in Governance 
Officers and staff of the Department of Fertilisers, Ministry of Chemicals and Fertilisers, met in New Delhi to reaffirm their Seva Sankalp. The Ministry stated that the workplace should reflect the sanctity of a pilgrimage through duty, service, and dedication. Secretary (Fertilisers) Rajat Kumar Mishra highlighted the 2014 abolition of VVIP culture as a landmark reform promoting humility and equality in governance. He urged officials to adapt to the modern work environment with commitment and uphold the spirit of public service.
4. Mumbai Launches AI-Based ‘Saksham Skill Survey’ to Boost Youth Employability 
Mumbai’s suburban district has launched the ‘Saksham Skill Survey’, an AI-based door-to-door initiative to assess skills of youth aged 18–40 in the H-West ward. Announced by Maharashtra IT Minister Adv. Ashish Shelar, the survey will cover 55,000 households. It will evaluate education, skill interests, and training needs, linking candidates to government-approved courses. Conducted by Sapio Analytics, the initiative aims to train 15,000 youth and enable 5,000 to become self-reliant. The project seeks to create India’s first decentralised AI-driven Workforce Intelligence model for long-term employment planning.
5. India, Japan Renew $75 Billion Bilateral Swap Arrangement 
India has renewed its $75 billion Bilateral Swap Arrangement (BSA) with Japan, effective 28 February 2026, the Reserve Bank of India announced. The size of the agreement remains unchanged. The BSA is a two-way currency swap mechanism that allows both countries to exchange their local currencies for US dollars to address short-term liquidity needs. Both sides expect the arrangement to strengthen financial safety nets, deepen bilateral financial cooperation, and enhance regional and global financial stability.
6. Indian Scientists Revise 50-Year-Old Theory on Bacterial Gene Regulation 
Indian scientists have challenged a 50-year-old biological model explaining how bacteria regulate gene expression. The study re-examines the “sigma cycle,” a process in which the sigma factor binds to RNA polymerase to initiate transcription and then detaches to allow gene elongation. The findings open new avenues for understanding bacterial evolution and gene control. According to the Ministry of Science and Technology, this breakthrough could aid in developing improved antibiotics and regulatory inhibitors, as well as engineering microorganisms to efficiently produce biofuels, biodegradable plastics, and therapeutic compounds.
7. Special ASMITA League Announced to Empower Women Athletes 
Minister of State for Youth Affairs and Sports Raksha Nikhil Khadse has announced a special edition of the ASMITA (Achieving Sports Milestone by Inspiring Women Through Action) League in New Delhi to mark International Women’s Day on March 8. The initiative aims to empower female athletes by providing grassroots-level competitive opportunities. The league aligns with the vision of strengthening sports culture nationwide. Competitions will be held in three age categories—Under 13, 13–18 years, and 18 years and above—with athletics events including 100m, 200m, and 400m races.
8. EPFO Recommends 8.25% Interest Rate for 2025–26, Approves Key Reforms 
Union Labour and Employment Minister Dr. Mansukh Mandaviya chaired the 239th meeting of the Central Board of Trustees (CBT), EPF, in New Delhi. The Board recommended an 8.25% annual interest rate on EPF deposits for 2025–26, to be officially notified by the government. The decision aims to strengthen retirement security for crores of workers. The CBT also approved a one-time Amnesty Scheme for tax-recognised trusts and cleared reforms including a simplified SOP on EPF exemption and alignment of EPF, EPS, and EDLI schemes with the Social Security Code, 2020, to enhance transparency and ease of compliance.
9. Nagaland Leads India in GST Growth at 37%: Strong Revenue Performance in 2025–26 
Nagaland has recorded the highest Goods and Services Tax (GST) growth in the country at 37% during the financial year up to December 2025, significantly higher than the national average of 6.8% growth. Governor Ajay Kumar Bhalla highlighted this achievement during his first address to the Nagaland Assembly, attributing it to systematic, technology-driven, and data-led reforms by the State government. As of 31 January 2026, Nagaland’s GST collections stood at ₹987.38 crore, surpassing its annual target of ₹949 crore, reflecting strong revenue performance and robust economic activity.
10. FM Sitharaman Meets AIIB President, Pushes for Stronger Infrastructure Partnership 
Union Finance Minister Nirmala Sitharaman met the new President of the Asian Infrastructure Investment Bank (AIIB), Zou Jiayi, in New Delhi to strengthen India–AIIB cooperation. They discussed expanding collaboration through early upstream infrastructure support and innovative financing tools, especially for low-income member countries. Sitharaman highlighted India’s continued focus on infrastructure-led growth under Union Budget 2026 and urged AIIB to scale up investments. She also stressed faster project approvals in Uttarakhand and Himachal Pradesh, development of capital markets, and the need to establish a regional AIIB office in India.
11. Varanasi Breaks China’s Record with 2.51 Lakh Saplings in One Hour 
Uttar Pradesh’s Varanasi set a new Guinness World Record during a ‘Mega Plantation Drive’ in the Sujabad Domari area by planting 2,51,446 saplings in just one hour, surpassing China’s 2018 record of 1,53,981 saplings. The certificate was presented by Guinness judge Rishinath after verification using drone cameras and digital counting systems. The urban forest is uniquely divided into 60 sectors named after Kashi’s famous ghats, aiming to create a ‘Mini Kashi’ riverside. With 27 native, fruit-bearing, and medicinal species planted, the drive saw participation from the Indian Army, NDRF, CRPF, government departments, and thousands of students and volunteers.
📌 One-Liner Current Affairs
- India and Canada launched negotiations for a Comprehensive Economic Partnership Agreement (CEPA) targeting $50 billion trade by 2030.
- CEPA Terms of Reference were signed in New Delhi in the presence of PM Narendra Modi and PM Mark Carney.
- Dr. Mansukh Mandaviya released the book “Mahatma: A Great Communicator” at Rajghat.
- The book highlights Mahatma Gandhi’s communication skills and non-violence strategy during India’s freedom movement.
- The Department of Fertilisers reaffirmed “Seva Sankalp” emphasizing humility and duty in governance.
- Mumbai launched an AI-based ‘Saksham Skill Survey’ covering 55,000 households.
- The Saksham Skill Survey aims to create India’s first decentralized AI-driven Workforce Intelligence model.
- India and Japan renewed their $75 billion Bilateral Swap Arrangement (BSA).
- The BSA allows currency swap between local currencies and US dollars for liquidity support.
- Indian scientists revised the 50-year-old “Sigma Cycle” theory of bacterial gene regulation.
- The discovery may help develop better antibiotics and biofuel-producing microorganisms.
- A special ASMITA League was announced to mark International Women’s Day.
- ASMITA League includes competitions for Under-13, 13–18, and 18+ age categories.
- EPFO recommended an 8.25% interest rate for FY 2025–26.
- EPFO approved alignment of EPF, EPS, and EDLI schemes with the Social Security Code, 2020.
- Nagaland recorded the highest GST growth in India at 37%.
- Nagaland’s GST collection crossed ₹987.38 crore, surpassing its annual target.
- FM Nirmala Sitharaman met AIIB President Zou Jiayi in New Delhi.
- AIIB was urged to scale up investments in low-income member countries.
- Varanasi planted 2,51,446 saplings in one hour, breaking China’s world record.
MCQs with Explanation
1. The Bilateral Swap Arrangement (BSA) between India and Japan primarily aims to:
A) Promote cultural exchange
B) Facilitate currency liquidity support
C) Increase tourism
D) Regulate foreign direct investment
✅ Answer: B
Explanation: BSA is a currency swap mechanism to provide short-term liquidity in times of financial stress.
2. The ASMITA League is related to:
A) Startup funding
B) Women entrepreneurship
C) Women’s sports empowerment
D) Rural employment
✅ Answer: C
Explanation: ASMITA stands for Achieving Sports Milestone by Inspiring Women Through Action.
3. The “Sigma Cycle” is associated with:
A) Climate regulation
B) Bacterial gene transcription
C) Crop productivity
D) Space research
✅ Answer: B
Explanation: Sigma factor binds RNA polymerase to initiate transcription in bacteria.
4. EPFO’s recommended interest rate for FY 2025–26 is:
A) 7.8%
B) 8.0%
C) 8.25%
D) 8.5%
✅ Answer: C
Explanation: CBT recommended 8.25% interest for EPF subscribers.
5. Nagaland’s GST growth of 37% indicates:
A) Decrease in tax compliance
B) Strong revenue performance
C) Reduction in industrial output
D) High inflation only
✅ Answer: B
Explanation: Higher GST growth reflects better compliance and economic activity.
🧠 5 UPSC-Style Tricky Questions
Q1. Consider the following statements about EPFO:
EPFO manages EPF, EPS and EDLI schemes.
EPF interest rate is fixed permanently by the Finance Commission.
EPFO aligns its schemes with the Code on Social Security, 2020.
Which statements are correct?
A) 1 and 2 only
B) 1 and 3 only
C) 2 and 3 only
D) All three
✅ Answer: B
Explanation: Interest rate is recommended by CBT and notified by government, not permanently fixed.
Q2. With reference to CEPA negotiations, consider:
CEPA focuses only on goods trade.
It includes framework and negotiation guidelines through ToR.
Correct answer:
A) 1 only
B) 2 only
C) Both
D) Neither
✅ Answer: B
Explanation: CEPA includes goods, services, investments and broader economic cooperation.
Q3. Which of the following best reflects the purpose of AIIB?
A) Military cooperation
B) Infrastructure financing
C) Climate treaty enforcement
D) WTO trade arbitration
✅ Answer: B
Q4. High GST growth in a state usually indicates:
Improved compliance
Strong economic activity
Automatic rise in direct taxes
Correct option:
A) 1 and 2 only
B) 2 and 3 only
C) 1 only
D) All three
✅ Answer: A
Explanation: GST relates to indirect taxes; direct taxes are separate.
Q5. The Bilateral Swap Arrangement strengthens:
A) Fiscal deficit
B) Foreign exchange reserves management
C) Agricultural subsidies
D) Industrial licensing
✅ Answer: B
FAQ – Daily Current Affairs 03 March 2026
Q1. Which exams require daily current affairs preparation?
UPSC, SSC, Banking, Railways, Defence and State PSC exams require daily current affairs preparation.
Q2. How can I revise current affairs quickly?
You should revise one-liners daily and practice MCQs regularly for better retention.
Q3. Is this current affairs useful for UPSC prelims?
Yes, it is useful for UPSC prelims as it includes national, international, economy, schemes and sports updates.
✅ Conclusion
Daily Current Affairs 03 March 2026 provides important news updates with exam-focused revision points and MCQs. Keep visiting our website daily for the latest updates and PDF notes.Images are not actual its AI generated for better informative.