NATIONAL:
1. Patanjali Ayurved Products
Why in news: Uttarakhand suspended licences of 14 Patanjali Ayurved Products
Key points:
• The drug regulator of Uttarakhand has suspended the manufacturing licenses of 14 products made by Patanjali Ayurved.
• The action has been taken due to repeatedly publishing misleading advertisements regarding their effectiveness.
• The Indian Medical Association (IMA) has taken legal action against Patanjali Ayurved.
• It has asserted that Ramdev’s claims, particularly regarding the treatment of COVID-19, are misleading and derogatory towards modern medicine.
• The IMA alleges that Ramdev has maligned modern medicine and the COVID-19 vaccination drive through his statements.
INTERNATIONAL:
1. Chang’e-6 Lunar Probe
Why in news: China is to launch Chang’e-6 Lunar Probe
Key points:
• China is to launch the Chang’e-6 lunar probe on a round trip to the Moon.
• The mission aims to gather soil and rock samples from the far side of the Moon, providing crucial insights into its early evolution and the inner solar system.
• Pakistan is set to launch its maiden lunar mission, ICUBE-Q, aboard China’s Chang’e-6 probe.
• ICUBE-Q carries optical cameras to capture images of the lunar surface.
• This historic collaboration between Pakistan and China not only marks a milestone for Pakistan’s space program but also enhances international cooperation in lunar exploration.
2. ZiG (Zimbabwe Gold)
Why in news: Zimbabwe introduced New Currency ZIG
Key points:
• Zimbabwe has launched a new currency called the ZiG (Zimbabwe Gold) in an attempt to address the country’s long-running currency crisis.
• Several government departments and businesses are refusing to accept the new currency, preferring to stick with the U.S. dollar, which remains the most trusted currency among Zimbabweans.
SCIENCE & TECHNOLOGY:
1. 6G Collaboration
Why in news: India and Europe to strengthen 6G collaboration.
Key points:
• India’s Bharat 6G Alliance is to sign a cooperation agreement with Europe’s Industry Alliance 6G.
• This partnership aims to foster collaboration in developing 6G technology.
• India has already signed a similar agreement with the US.
ECONOMY:
1. Windfall Tax
Why in news: India reduced Windfall Tax on Petroleum Crude
Key points:
• India has adjusted its windfall tax on petroleum crude, reducing it to 8,400 Indian rupees ($100.66) per metric ton from 9,600 rupees, Wef May 1.
• This decision comes after a recent increase in the tax from 6,800 rupees to 9,600 rupees per metric ton on April 16.
• A windfall tax is a higher tax rate on profits that ensue from a sudden windfall gain to a particular company or industry.
• India introduced windfall profit taxes in July 2022, aligning with other countries that tax supernormal profits in the energy sector.
2. India's Reliance on Chinese Imports
Why in news: India's reliance on Chinese imports has surged dramatically
Key points:
• A report by the Global Trade Research Initiative (GTRI) highlights India’s escalating dependence on Chinese imports.
• It’s import bill is surging to over $101 billion in 2023-24 from around $70 billion in 2018-19.
• Over the past fifteen years, China’s share of India’s industrial goods imports has risen significantly, reaching 30%.
• In fact, imports from China have outpaced India’s total imports by 2.3 times.
DEFENCE:
1. Supersonic Missile-Assisted Torpedo Delivery System
Why in news: DRDO has conducted the successful flight-test of the Supersonic Missile-Assisted Release of Torpedo (SMART) system
Key points:
• It is a significant milestone in enhancing India’s anti-submarine warfare capabilities.
• This next-generation torpedo delivery system was successfully flight-tested on May 01, 2024 from Dr. APJ Abdul Kalam Island off the coast of Odisha.
• SMART is a missile-based system designed to significantly extend the range of lightweight torpedoes used by the Indian Navy.
SPORTS:
1. Grandmaster Title
Why in news: International Chess Federation awarded Grandmaster Title to Indian Chess Prodigy Vaishali Ramesh Babu
Key points:
• This remarkable achievement makes Vaishali the third Indian female Grandmaster, joining Koneru Humpy and Harika Dronavalli.
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