On May 3, 2025, India and the world witnessed significant developments across various sectors. In India, the Orange Economy—where people earn money through art, music, movies, and other creative work—is growing fast. This could help the country’s culture and economy. India also collected a lot of tax money through GST, which shows that the economy is doing well. In world news, the United States and Ukraine made a deal to work together on important minerals, which helps both countries. At the same time, the Darfur region in Sudan is still facing a serious crisis, and many people there need help. These events show us how different parts of the world are changing and facing new challenges.

Awareness regarding daily UPSC current affairs is crucial for cracking the UPSC Prelims, excelling in UPSC Mains. It helps perform well in the UPSC personality test, thus becoming an informed and effective UPSC civil servant.

Below are the current affairs and headlines of the day taken from The Hindu, Indian Express, Press Information Bureau & All India Radio as required for UPSC preparation:

Orange Economy

Source: The Hindu

Syllabus: GS Paper III (Economy)

In News:

• Prime Minister Narendra Modi inaugurated the World Audio Visual and Entertainment Summit (WAVES) 2025 at Jio Convention Centre, Mumbai from 1st to 4th May 2025. 

• PM Modi promoted India as a global hub for the“orange economy”, urging global companies to “Create in India, Create for the World.”

What is the Orange Economy?

• An evolving concept based on the contribution and potential of creative assets to contribute to economic growth and development.
• It is also referred to as the Creative Economy, the Orange Economy includes economic activities based on culture, creativity, and intellectual property (IP).
• Term popularized by Inter-American Development Bank (IDB) in a 2013 report titled “The Orange Economy: An Infinite Opportunity”.
• Key Components:
  • Media and entertainment (films, TV, radio, music, digital content), Design and fashion.
  • Performing and visual arts, Publishing and literature.
  • Advertising and marketing, Software, gaming, AR/VR, and animation.

Know more about the Intellectual Property Rights (IPR)!

Record GST Collection

Source: The Hindu

Syllabus: GS Paper III (Economy)

In News:

• India’s Goods and Services Tax (GST) collection reached a record high of ₹2.37 lakh crore in April 2025, marking a 12.6% year-on-year increase.

• This is the highest ever monthly GST collection since its rollout in July 2017.

• The record reflects strong domestic economic activity and the impact of March-end financial reconciliation by businesses.

Key Data Points:

• Total Gross GST Collection (April 2025): ₹2.37 lakh crore
• Year-on-Year Growth: 12.6%
• Central GST (CGST): ₹48,634 crore
• State GST (SGST): ₹59,372 crore
• Integrated GST (IGST): ₹69,504 crore
• Cess: ₹12,293 crore

Know more about the Types of GST in India!

US–Ukraine Minerals Deal

Source: The Hindu 

Syllabus: GS Paper II (International Relations)

In News:

• On May 1, 2025, the United States and Ukraine signed a landmark minerals deal.

• The deal shifts the focus of US–Ukraine relations from military aid to economic investment.

• It comes amid concerns about the US reducing global security commitments and Ukraine’s struggle against Russia after three years of invasion.

• The deal was finalized after earlier tensions between Presidents Donald Trump and Volodymyr Zelenskyy.

Details Related to the Deal

• The agreement establishes the US–Ukraine Reinvestment Fund, a joint investment vehicle with equal voting rights for both countries.
• The deal allows US access to Ukraine’s rare earth and critical mineral resources, such as graphite, titanium, manganese, lithium, and rare earth elements.

Know more about the Russia-Ukraine Conflict!

Reasons for the Deal

• Strategic Shift: The US pivots from direct military support to long-term economic engagement.
• Trump Administration’s View: President Trump wanted Ukraine to offer economic returns for past aid and framed this deal as a way to “get more than we gave.”
• Ukraine: 
  • Avoided earlier deal versions that compromised sovereignty and made Ukraine a junior partner.
  • Secured sustainable economic cooperation without debt burdens.
  • Aimed to maintain continued US interest in Ukraine’s recovery and international support.
  • Ensures access to global capital without undermining future EU accession goals.

Know more about the Ukrainian Crisis!

Darfur Region

Source: The Hindu 

Syllabus: Miscellaneous

In News:

• According to the United Nations, at least 542 civilians have been confirmed killed in Sudan ’s North Darfur region in the past three weeks.

• The killings come amid intensifying violence between rival military factions, worsening the ongoing Sudan civil conflict.

Details Related to the Darfur Region

• A conflict-prone region in western Sudan
• It has been the epicenter of ethnic and political violence since 2003, when rebels took up arms against the government, accusing it of discrimination and neglect.
• The Sudanese Armed Forces (SAF) and the Rapid Support Forces (RSF), a paramilitary group, have been engaged in a civil war since April 2023, with Darfur emerging as one of the worst-hit areas.
• Darfur is home to diverse ethnic groups, and the ongoing conflict has deepened ethnic tensions, especially involving Arab and non-Arab communities.

Know more about the Sudan Conflict!