🔥 5 September 2025 – Top Current Affairs MCQs | Daily GK for Competitive Exams | #162

Snapshot – 5 September 2025

1. India rolls out GST reform dubbed “GST 2.0”

The government unveiled a broad overhaul of the Goods and Services Tax ahead of the festive season, simplifying the structure to reduce tax slabs—from four to two main rates (5% and 18%), with a new 40% slab for luxury/sin goods. Long-term benefits include tax exemptions for health and life insurance premiums and reduced tax burdens on essentials. This move, set to start from 22 September, aims to fuel growth while incurring an estimated ₹480 billion revenue loss.

2. RBI cancels previously declared bank holiday for September 5

A holiday under the Negotiable Instruments Act was revoked. Instead, the RBI shifted the holiday to September 8, when settlements in government securities, forex, and money markets, as well as SDF/MSF operations, will halt. Meanwhile, banks in numerous cities observe local holidays on September 5 due to Eid-e-Milad and Onam.

3. Schools remain closed across regions

Educational institutions across parts of the country closed today—owing to a mix of monsoon weather hazards, Eid-e-Milad observances, and Teacher’s Day celebrations. Students in Delhi-NCR and other regions are advised to confirm with their schools directly.

4. 14th National Vovinam Martial Arts Championship upcoming

Between 8–11 September at Talkatora Stadium, New Delhi, about 700 athletes from 27 states will compete in the event. Defence Minister Rajnath Singh has been invited as the chief guest, and winners will represent India at the World Championship in Bali this November.

5. Teacher’s Day honoured nationally

India celebrates Teacher’s Day on September 5 in memory of Dr. Sarvepalli Radhakrishnan, whose birthday falls today. The day recognizes his contributions as a philosopher, statesman, and educator.

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Daily Current Affairs MCQs – 5 September 2025

1. What is the key feature of India’s newly announced “GST 2.0” reform?
   A) Four new tax slabs introduced
   B) Simplified to two main tax slabs, plus a new 40% slab for luxury items
   C) GST abolished on all goods
   D) GST increased to a flat 28% for all categories
   Answer: B
   Explanation: The GST regime was streamlined to 5% and 18% slabs, with a new 40% slab for luxury and sin goods.

2. When will India’s GST reform “GST 2.0” take effect?
   A) Immediately, on 5 September
   B) 8 September
   C) 22 September
   D) 1 October
   Answer: C
   Explanation: The reform is set to roll out starting 22 September.

3. Which financial market activity will be affected on 8 September due to RBI’s revised holiday schedule?
   A) Equity trading on stock exchanges
   B) Transactions in government securities, forex, and money markets
   C) Banking operations across all branches nationwide
   D) Commodity trading only
   Answer: B
   Explanation: RBI canceled the holiday for 5 September and rescheduled it to 8 September, affecting transactions and settlements in government securities, foreign exchange, and money markets.

4. Why are schools closed in many parts of India on 5 September?
   A) National Education Day
   B) Earthquake precautions
   C) Monsoon hazards, Eid-e-Milad, and Teacher’s Day observance
   D) New education curriculum rollout
   Answer: C
   Explanation: Closures are due to adverse monsoon conditions, regional festival observances (Eid-e-Milad, Onam), and Teacher’s Day ceremonies.

5. On which date will the National Vovinam Martial Arts Championship be held?
   A) 5–8 September
   B) 8–11 September
   C) 5 September only
   D) 1–4 November
   Answer: B
   Explanation: The championship will take place from 8 to 11 September.

6. Who has been invited as the chief guest for the martial arts championship?
   A) Prime Minister Modi
   B) Defence Minister Rajnath Singh
   C) Governor of Delhi
   D) Sports Minister
   Answer: B
   Explanation: Defence Minister Rajnath Singh has been invited as the chief guest.

7. Why is Teacher’s Day celebrated on 5 September in India?
   A) Birthday of Rabindranath Tagore
   B) To honor Mahatma Gandhi’s teacher
   C) Birth anniversary of Dr. Sarvepalli Radhakrishnan
   D) UNESCO designated it globally
   Answer: C
   Explanation: Teacher’s Day marks the birth anniversary of Dr. Sarvepalli Radhakrishnan.

8. Which of these is false about the day’s events?
   A) GST overhaul announced
   B) School closures due to Teacher’s Day and festivals
   C) RBI enforced the holiday on 5 September across all markets
   D) Martial arts event scheduled for early September
   Answer: C (False)
   Explanation: RBI actually canceled the holiday for 5 September and advised markets to operate; it shifted the holiday to 8 September.

9. What additional benefit does GST reform provide for insurance premiums?
   A) Heavy taxation on life insurance
   B) Health and life insurance premiums made tax-free
   C) Uniform 18% tax on all financial services
   D) Reduced tax only on motor insurance
   Answer: B
   Explanation: Health and life insurance premiums are now exempt from GST.

10. What international opportunity is available to top performers of the Vovinam Championship?
    A) World Vovinam Championship in Bali
    B) Olympic representation
    C) Commonwealth Martial Arts Games
    D) Regional Asian Games
    Answer: A
    Explanation: Winners will represent India at the World Vovinam Championship in Bali in November.