Known in Hebrew as Yom Ha'Atzmaut, it is celebrated on the 5th day of the Jewish calendar’s month of Iyar, and marks the date that Israel declared itself an independent state on May 14, 1948. Many Israelis and Jews worldwide celebrate it as a day marking the beginning of national Jewish liberation and of ending centuries, if not millennia, of Jewish persecution. Palestinians view this day as part of Al-Nakba (Arabic for “the catastrophe”), which encompasses fighting previous to Israel’s declaration of independence as well as the subsequent War of 1948 between Israel and surrounding Arab states. During Al-Nakba, 700,000-800,000 Palestinians either fled or were expelled from their homes, most of whom were never allowed or able to return.  See also War of 1948, 1948 and Al-Nakba.  http://www.justvision.org/glossary/israeli-independence-day