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Daily Current Affairs 1st May 2023: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 1st May 2023. It includes all Major National, International, Business and Sports related current affairs of 1st May 2023. A brief explanation of every current affair is provided to further enhance your general knowledge. Once you have gone through these current affairs we would recommend to you to try 1st May 2023 Current affairs test.



1. Badminton Asia Championships 2023 sees Indian Victory:

  • The duo of Satwiksairaj Rankireddy and Chirag Shetty from India triumphed in the men’s doubles at the 2023 Badminton Asia Championship, which took place in Dubai, UAE from April 25-30.
  • In the championship match, the pair overcame Malaysia’s Teo Ee Yi and Ong Yew Sin, who were ranked eighth.
  • This achievement marks them as the inaugural Indian men’s doubles team to secure the title at the Badminton Asia Championships.
  • Following Dinesh Khanna’s success in 1965, this victory represents India’s second title at the Badminton Asia Championships.

Banking & Finance

2. Record GST Revenue in April 2023:

  • In April 2023, the total GST revenue saw a surge of 12%, reaching a new peak of Rs 1.87 lakh crore.
  • This collection surpasses any monthly revenue since the initiation of this tax structure in July 2017.
  • Revenue breakdown includes: CGST at Rs 38,440 crore, SGST at Rs 47,412 crore, and IGST at Rs 89,158 crore (inclusive of Rs 34,972 crore from goods imports). A cess of Rs 12,025 crore was also collected.
  • The previous record for GST revenue was set in April 2022, amounting to Rs 1.68 lakh crore.

International News

3. Pakistan Tops the List for ADB Loan Recipients:

  • For the year 2022, Pakistan emerged as the principal beneficiary of loans from the Asian Development Bank (ADB).
  • As per the 2022 ADB Annual Report, of the total USD 31.8 billion distributed across 40 nations, Pakistan was granted loans totaling USD 5.58 billion.
  • Amid its economic challenges, Pakistan was allocated a concessional funding of USD 2.67 billion from the bank that year.
  • The loans, meant to prevent default, were given on the condition that Pakistan also secure loans from the IMF, which had its own set of requirements.

About Asian Development Bank (ADB):

  • Established on: 19 December 1966
  • Located in: Mandaluyong, Metro Manila, Philippines
  • Leadership: President Masatsugu Asakawa, Vice President Ashok Lavasa, Director for India Takeo Konishi, and Executive Director Sameer Kumar Khare.
  • Membership: 68 countries, including Nuie.


4. Collaboration Between NTPC and NPCIL for Nuclear Power:

  • A supplementary agreement has been signed between NTPC and the Nuclear Power Corporation of India Ltd (NPCIL) to collaborate on nuclear power projects.
  • The joint venture aims to develop two specific projects: the Chutka Madhya Pradesh Atomic Power Project (2×700 MW) and the Mahi Banswara Rajasthan Atomic Power Project (4×700 MW).
  • Currently, NTPC boasts a power generation capacity of 71.644 GW, including a renewable segment of 3.01 GW.

Science & Technology

5. Innovative Cancer Detection Tool by IIT Madras:

  • Researchers at the Indian Institute of Technology-Madras have unveiled a computational tool, powered by machine learning, to enhance the detection of tumors in the brain and spinal cord.
  • The online-accessible web server is named ‘GBMDriver’ (short for GlioBlastoma Mutiforme Drivers).
  • The primary purpose of GBMDriver is to distinguish between driver mutations, which cause cancer, and neutral or passenger mutations in Glioblastoma.

Significant Days

6. Celebrating International Labour Day on May 1:

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  • Observed annually on May 1st, International Labour Day or Worker’s Day is dedicated to honoring the significant contributions of workers to societal development.
  • Its roots trace back to the labor union movements in the U.S. during the 19th Century, notably advocating for an eight-hour workday.
  • While New York initially proposed a Labour Day bill, Oregon was the first to legalize it on February 21, 1887. The 1889 International Socialist Congress then resolved to hold a massive global rally to demand a working limit of 8 hours per day and declared May 1st as a holiday.
  • India started commemorating this day on May 1, 1923, in Chennai, using titles like ‘Kamgar Divas’, ‘Kamgar Din’, and ‘Antrarashtriya Shramik Divas’. This observance, introduced by the Labour Kisan Party of Hindustan, is recognized as a national holiday in India.

7. Maharashtra Day and Gujarat Day on May 1:

  • Every year, on May 1st, Maharashtra Day (or Maharashtra Diwas) is celebrated to remember the establishment of the state in 1960.
  • This day marks the linguistic division of the Bombay State into Maharashtra and Gujarat.
  • Maharashtra boasts a diverse history, notably under the Maratha Empire’s rule from the 17th-19th Centuries.
  • After India’s independence in 1947, the Bombay Presidency was formed, comprising present-day Maharashtra, Gujarat, and parts of Madhya Pradesh, Chhattisgarh, and Karnataka.
  • The 1956 States Reorganization Act, in response to demands for states based on language, led to the splitting of the Bombay State into Maharashtra and Gujarat on May 1, 1960.
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