Table of Contents
National News
India to Establish First Privately Managed Strategic Petroleum Reserve by 2029-30
India is embarking on establishing its first privately managed strategic petroleum reserve (SPR) by 2029-30. This initiative aims to allow the operator the liberty to trade all stored oil, aligning with models seen in countries such as Japan and South Korea. India’s current SPR strategy involves partial commercialization, with plans to expand this approach with new SPR projects.
India’s Nuclear Energy Roadmap: Achieving 1 Lakh MW by 2047
In line with its ambitions for a sustainable energy future, India aims to ramp up its nuclear power production significantly, targeting a capacity of 1 lakh MW by 2047. This objective, outlined in a report titled ‘Synchronising Energy Transitions Towards Possible Net Zero for India: Affordable and Clean Energy for All,’ highlights the nation’s commitment to expanding its nuclear energy sector.
Government Approval of Onion Export to Friendly Countries
In response to requests from friendly nations including Bangladesh, the United Arab Emirates, Bahrain, Mauritius, and Bhutan, the Indian government has granted approval for the export of onions. India, a significant global exporter of onions, had enforced a ban on onion exports in December 2023, leading to soaring prices in these nations.
International News
NATO Celebrates 75 Years of Collective Defense
The North Atlantic Treaty Organization (NATO) is marking its 75th anniversary this year. The alliance, founded in 1949, will hold a special event in Brussels, Belgium to commemorate this milestone. NATO was originally founded by 12 countries, including the United States, Canada, and several Western European nations. Over the past seven decades, NATO’s membership has almost tripled, with 30 countries now part of the alliance. Most recently, Finland became the 31st member in April 2023. Sweden has also been accepted as the 32nd member, and Hungary is in the process of ratifying its accession.
Romania Unveils World’s Most Powerful Laser
A research center in Romania has revealed the world’s most potent laser, based on the groundbreaking inventions of Nobel Physics Prize winners Gerard Mourou and Donna Strickland. The laser, operated by the French company Thales, promises revolutionary applications across sectors from healthcare to space exploration.
Zimbabwe Declares State of Disaster Over Devastating Drought
Zimbabwe, along with Zambia and Malawi, has declared a state of disaster due to a severe drought sweeping across southern Africa. President Emmerson Mnangagwa cited an “El Nino-induced drought” causing below-normal rainfall, affecting over 80% of the country. This drought, exacerbated by climate change, has led to dire food shortages and humanitarian crises across the region.
Appointments News
Rakesh Mohan Appointed to World Bank Economic Advisory Panel
The World Bank Group has appointed former Reserve Bank of India (RBI) deputy governor Rakesh Mohan as a member of its Economic Advisory Panel. This panel will be chaired by Lord Nicholas Stern, the IG Patel Professor of Economics and Government at the London School of Economics. World Bank Group Chief Economist Indermit Gill will co-chair the panel.
Banking News
RBI Monetary Policy, Repo Rate To Remain Steady For Seventh Time
RBI Monetary Policy Committee has decided by majority 5:1 to keep policy rates unchanged, Governor Shaktikanta Das announced on April 5. He also that core inflation has declined steadily. It is the first bi-monthly monetary policy of 2024-25. The Reserve Bank of India (RBI) Governor also announced MSF & Bank rates to continue to be at 6.75%. The Reserve Bank of India (RBI) Governor has kept the policy rate unchanged at 6.5 per cent.
UPI Transactions Surge by 56% in India: Worldline Report
In the second half of 2023, UPI transactions in India witnessed a remarkable surge of 56% year-on-year, outpacing the modest growth of 6% in card transactions, according to a report by payment service provider Worldline. The report reveals that the volume of UPI transactions soared to 65.77 billion, marking a substantial increase from 42.09 billion in the same period. Moreover, transaction value saw a significant rise of 44%, reaching Rs 99.68 trillion from Rs 69.36 trillion.
Defence News
DRDO successfully conducted a flight test of the new generation ballistic missile called ‘Agni-Prime
The Defence Research and Development Organisation (DRDO) and India’s Strategic Forces Command (SFC) have successfully conducted a flight test of the new generation ballistic missile called ‘Agni-Prime’. The test occurred at Dr APJ Abdul Kalam Island, off Odisha’s coast. The data was captured by several range sensors placed at different locations, including two downrange ships placed at the terminal point. The launch was witnessed by the Chief of Defence Staff, Chief of Strategic Forces Command, and other senior officials from DRDO and the Indian Army.
DRDO Initiates Project for Test Centre in West Bengal
The Defence Research and Development Organisation (DRDO) has commenced a project in Junput village, West Bengal, to establish a test centre for the country’s weapon systems. This initiative aims to address the saturation of testing activities at Odisha’s Chandipur Integrated Test Range (ITR) by providing an additional operational area.
Sports News
Bindyarani Devi Wins Bronze, Mirabai Chanu Qualifies for Paris Olympics 2024 at IWF World Cup
The IWF World Cup 2024 was held in Phuket, Thailand from March 31 to April 11, 2024. The event was organized by the International Weightlifting Federation (IWF), the world governing body for men’s and women’s weightlifting. 25-year-old Indian weightlifter Bindyarani Devi competed in the women’s 55kg category and won a bronze medal.
Ranks and Reports News
World Economic Forum Announces 2024 Young Global Leaders Community
The World Economic Forum (WEF) has announced the 20th edition of its Young Global Leaders Community: The Class of 2024. The list includes nearly 90 individuals under the age of 40 from diverse fields, including politics, business, civil society, the arts, and academia.
Indians Included in the 2024 List
This year, five Indians have been selected for the Young Global Leaders program. They are:
- Bhumi Pednekar (Art and Culture) – Bollywood actress known for films like “Dum Laga Ke Haisha”, “Toilet: Ek Prem Katha”, and “Badhaai Do”
- Adwaita Nayar (Business) – Chief Executive Officer, Nyka Fashion
- Arjun Bhartia (Business) – Director, Jubilant Group
- Priya Aggarwal Hebbar (Business) – Non-Executive Director, Vedanta Limited
- Sharad Vivek Sagar (Social Entrepreneurs) – Founder and Chief Executive Officer, Dexterity Global
Global Life Expectancy Trends: Lancet Study Insights
A recent Lancet study reveals a significant rise in global life expectancy, with an average increase of 6.2 years between 1990 and 2021. Notably, India has seen an eight-year increase during this period. The study attributes this rise to declines in deaths from various ailments such as diarrhoea, respiratory infections, stroke, and heart disease, although the gains were somewhat offset by the arrival of the Covid-19 pandemic in 2020.
Science and Technology News
Meta Expands Fact-Checking Program with PTI in India
Meta, the parent company of Facebook, WhatsApp, and Instagram, has extended its third-party fact-checking initiative in India by partnering with the Press Trust of India (PTI). This collaboration establishes PTI as a dedicated fact-checking unit within its editorial department, enabling the identification, review, and rating of misinformation across Meta platforms.
Important Days
International Day of Conscience 2024, Date, History and Theme
‘International Conscience Day’ is celebrated every year on 5 April. This day is celebrated to remind people to introspect, follow their conscience and do the right thing. The theme for the International Day of Conscience in 2024 is ‘Promoting a Culture of Peace with Love and Conscience’. This theme emphasizes the importance of cultivating a global mindset focused on peace, compassion, and moral integrity.
National Maritime Day 2024, History, Theme and Significance
National Maritime Day is observed annually on April 5 in India. It is a day dedicated to recognizing the importance of the maritime sector in the country’s international trade and economic growth. The date marks a significant milestone in India’s maritime history. On April 5, 1919, the first Indian commercial ship, SS Loyalty, embarked on a journey to the United Kingdom, breaking the British monopoly on sea routes. This event was a crucial step in the development of India’s shipping industry.
260th Raising Day of Army Medical Corps
The Army Medical Corps (AMC) celebrated its 260th Raising Day on 03rd April 2024. Raised in the year 1764, the Corps has rendered selfless service to the nation over centuries of progress, development, dedication, and sacrifice, both in combat and in peace, living up to the Corps motto of ‘Sarve Santu Niramaya’ meaning ‘let all be free from disease’.
Obituaries News
Tamil Actor Visheshwara Rao Passes Away at 64
Veteran Tamil actor Visheshwara Rao passed away on April 2 at the age of 64. He died due to complications from cancer, which he had been battling for the last few years. Rao was undergoing treatment for the disease at a private hospital in Chennai when he breathed his last.
Miscellaneous News
Manohar International Airport in Goa Launches Digi Yatra System
The Manohar International Airport in Mopa, Goa, has become the 14th airport in India to launch the Digi Yatra system. This biometric-enabled system uses facial recognition technology to automate the entry and verification of passengers at various airport checkpoints, making the travel experience more seamless and convenient. The Digi Yatra system is already operational in 13 other Indian airports, including Delhi, Bengaluru, Varanasi, Hyderabad, Kolkata, and Mumbai, among others.
05th April CURRENT AFFAIRS 2024 | ALL EXAMS IMP. CURRENT AFFAIRS | ASHISH GAUTAM SIR
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