Current Affairs 02 May 2024

In Current Affairs for 02 May 2024, we will see the latest national and international current affairs news. These important current affairs will be beneficial for your upcoming NDA, CDS,...

Ruby Thakur
May 2, 2024
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In Current Affairs for 02 May 2024, we will see the latest national and international current affairs news. These important current affairs will be beneficial for your upcoming NDA, CDS, CDS OTA, AFCAT, TA, Agniveer Army, Agniveer Navy, Agniveer Air Force, Women Military Police, INET, MNS, ACC exams, SCO, PCSL, CAPF, and SSB interviews, and direct entries for Army, Navy, and Air Force like SSC Tech, TGC, JAG, NCC, TES, 10+2 Cadet. Download a PDF file about current events at the end of this article. Let us now see the Current Affairs.

Current Affairs 02 May 2024

India Reduces Windfall Tax

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, effective 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.

The windfall tax remains unchanged at zero for diesel and aviation turbine fuel . India introduced windfall profit taxes in July 2022, aligning with other countries that tax supernormal profits in the energy sector.
A windfall tax is a higher tax rate on profits that ensue from a sudden windfall gain to a particular company or industry. There have been windfall taxes in various countries across the world, including Australia, Italy, and Mongolia.

90 Million Year Old Herbivore Dinosaur

Paleontologists from Argentina have revealed the unearthing of a novel medium-sized herbivorous dinosaur, Chakisaurus nekul, which thrived approximately 90 million years ago during the Late Cretaceous period in present-day Patagonia.
Studies of Chakisaurus have unveiled an intriguing feature: its tail curved downward, a distinctive characteristic not observed in other dinosaurs.

This peculiar adaptation suggests novel locomotive abilities, aiding the dinosaur in swift maneuvers and balance during its races, crucial for evading predators in its environment.
Chakisaurus nekul was not only distinguished by its tail anatomy but also renowned for its agility and speed.

Living amidst a plethora of predators, its primary defense mechanism was its ability to outpace its adversaries, relying on its robust hind limbs and exceptional running prowess.
The name “Chakisaurus nekul” holds cultural significance, reflecting the indigenous heritage of the region.
“Chaki” derives from the Aonikenk language, referring to an “old guanaco,” a native herbivorous mammal, while “nekul” originates from the Mapudungún language, signifying “fast” or “agile.” This nomenclature honors the rich cultural tapestry intertwined with the discovery.

TIME’s Global Ranking

Emeritus, the Indian edtech startup, has secured the coveted top spot in TIME Magazine’s “World’s Top EdTech Companies of 2024” ranking.
Founded in 2015 by Ashwin Damera and Chaitanya Kalipatnapu, Emeritus offers courses from prestigious global universities, including the University of Cambridge, Harvard Business School, and MIT Sloan, among others. Emeritus is not alone in this prestigious recognition, as the list features 14 more Indian edtech firms, showcasing the country’s prowess in the educational technology sector.

At the 26th position is Miko, which develops AI-powered robots for kids, followed by the competitive exam preparation app Unacademy at the 54th position.
The US-headquartered upGrad, founded in India, secured the 69th rank, while Univariety, offering technology-backed solutions for educational institutes, claimed the 82nd position.

Other Indian edtech companies that made the cut include iNurture Education Solutions (83rd rank), focusing on university-industry partnerships, and Uolo (90th position), empowering schools.
Emeritus’s success story has recently been featured as a case study by the prestigious Harvard Business School, further solidifying its position as a trailblazer in the edtech industry.

Additionally, the company made headlines recently with its plans to shift its headquarters from Singapore to India for a stock market listing.
The TIME ranking comprises 250 edtech companies from around the world, with the United States leading the pack with 91 entries, followed by China with 25 companies, and the United Kingdom with 16 firms.
Other countries represented include Brazil, Australia, Spain, Germany, France, Canada, South Korea, Singapore, and Japan. In addition to the main ranking, two Indian companies, Scaler Academy and Eupheus Learning, found a place in the TIME “World’s Top EdTech Rising Stars of 2024” list, further underscoring the country’s potential in the educational technology sector.

6G Collaboration

India’s Bharat 6G Alliance is set to sign a cooperation agreement with Europe’s Industry Alliance 6G, following a similar agreement with the US.
This partnership aims to foster collaboration in developing 6G technology. The Bharat 6G Alliance and Industry Alliance 6G are poised to sign an agreement soon, with plans to finalize collaboration details in the coming quarter.

Similar to the agreement with the US, the partnership between Bharat 6G and Industry Alliance 6G is likely to take the form of a memorandum of understanding.
Established by India’s Department of Telecommunications, the Bharat 6G Alliance aims to drive 6G technology development in India by bringing together industry players, academia, and research organizations.
India’s collaboration with both the US and Europe underscores a concerted effort to accelerate 6G innovation globally, with a focus on standards development, research, and market access for Indian firms.
The Bharat 6G Alliance’s participation in international organizations such as the International Telecommunication Union (ITU) solidifies India’s voice in setting global standards for 6G technology.

Rapid Warming Of Indian Ocean

The Indian Ocean basin, the world’s fastest warming ocean, is projected to experience accelerated warming at an alarming rate of 1.7°C to 3.8°C per century between 2020 and 2100, according to a recent report led by scientists from the Indian Institute of Tropical Meteorology (IITM), Pune.

This unprecedented warming is expected to have severe consequences for the region. Increase in frequency and intensity of severe weather events.
Prolonged marine heatwaves, rising from current 20 days per year to 220-250 days.
Changes in Indian Ocean Dipole (IOD) events, with 66% increase in extreme events and 52% decrease in moderate events by end of 21st century. Influence on monsoon development and cyclone formation.

Ocean warming not limited to surface; heat content increasing in depths up to 2,000 meters.
Current rate of increase: 4.5 zetta-joules per decade. Projected future rate: 16-22 zetta-joules per decade. Equivalent to energy of one Hiroshima atomic bomb detonation every second for a decade. Northwestern Indian Ocean to experience worst warming. Warming from 1950-2020: 1.2°C & Further warming projected from 2020-2100: 1.7°C to 3.8°C

Red Sea Lead To Surge In Carbon Emissions

Ongoing attacks by Houthi rebels in the Red Sea area have forced hundreds of ships to divert their routes since mid-December 2023, leading to a significant increase in carbon emissions.
Instead of passing through the Suez Canal, vessels are sailing around South Africa’s Cape of Good Hope, adding at least a week to the journey between South Asia and northern Europe.

According to a report by consultancy INVERTO, a subsidiary of Boston Consulting Group Inc., the additional fuel burned due to these diversions has led to: Approximately 13.6 million tonnes of extra CO2 emissions over the past four months. Equivalent to the pollution generated by about 9 million cars over the same period.

A report by Xeneta, an Oslo-based freight-analytics company, focused on container shipping and showed a 63% increase in carbon emissions on the Asia to Mediterranean route in Q1 2024 compared to Q4 2023.

The Xeneta and Marine Benchmark Carbon Emissions Index reached its highest level in the first quarter of 2024 since records began in 2018. Ships are being sailed at higher speeds to make up for the longer distances, resulting in more carbon emissions.
The average speed of the world’s largest container ships increased from under 15 knots to above 16 knots after the Red Sea attacks intensified in mid-December 2023.

China’s Share in India’s Industrial Goods Imports Rises

Over the last 15 years, China’s share in India’s imports of industrial goods has increased from 21% to 30%, according to a report by the Global Trade Research Initiative (GTRI).
This growth in imports from China has outpaced India’s overall import growth, with China’s exports to India growing 2.3 times faster than India’s total imports from other countries. In 2023-24, India’s total merchandise imports amounted to $677.2 billion, of which $101.8 billion came from China, accounting for 15% of India’s total imports. Out of the $101.8 billion imports from China, $100 billion (98.5%) were in major industrial product categories.
China’s contribution to India’s global imports of industrial products ($337 billion) is 30%, up from 21% fifteen years ago.

The key sectors where India’s dependence on Chinese imports is increasing significantly include: Electronics, telecom, and electrical products: $26.1 billion out of $67.8 billion (38.4%).
Machinery: $19 billion out of $47.9 billion (39.6%). Chemicals and pharmaceuticals: $15.8 billion out of $54.1 billion (29.2%). Plastics and related articles: $4.8 billion out of $18.5 billion (25.8%).

Other sectors: Iron and steel products, textiles, automobiles, medical equipment, etc. Composition of Imports from China Capital goods and machinery account for 50% of imports from China, indicating a need for focused R&D in these areas.
Intermediate goods like organic chemicals, APIs, and plastics make up 37% of imports, highlighting the need to upgrade these industries. Consumer goods constitute 12% of imports, while raw materials are less than 1%.

Current Affairs 02 May 2024 Question

Chakisaurus Nekul Seen In News Is Species Of
A. Lizard
B. Dinosaur
C. Rabbit
D. Plant
ANSWER: B
Who Has Been Appointed As President Of The Indian Vaccine Manufacturers
Association
A. Krishna M Ella
B. S.B. Rajan
C. Z. Nahar
D. S. Sivakumar
ANSWER: A
What Is ‘Sierra Madre’, Recently Seen In The News
A. Submarine
B. Landing ship
C. Earth observation satellite
D. Exoplanet
ANSWER: B
Passport Affordability Rankings, Which Country’s Passport Is Most Affordable
A. UAE
B. India
C. Australia
D. USA
ANSWER: A
Which Institution Partnered With C-DOT For AI In 5G Network Management
A. IIT Delhi
B. IIT Kanpur
C. IIT Madras
D. IIT Jodhpur
ANSWER: D
Who Has Been Named Ambassador For Upcoming ICC Men’s T20 World Cup
A. Michael Phelps
B. Usain Bolt
C. Roger Federer
D. Lionel Messi
ANSWER: B
Which Organization Launched Solar Powered Spacecraft Mission Utilizing Solar
Sail Technology
A. SpaceX
B. NASA
C. ESA
D. ISRO
ANSWER: B
According To Report, Which States Lead India’s Clean Energy Transition
A. Maharashtra and Tamil Nadu
B. Kerala and Rajasthan
C. Karnataka and Gujarat
D. Punjab and Haryana
ANSWER: C
What Type Of Virus Is Mpox
A. RNA virus
B. DNA virus
C. Retrovirus
D. Adenovirus
ANSWER: B
In Which Year Did Khongjom Battle Take Place During The Angl-Manipuri War
A. 1891
B. 1900
C. 1875
D. 1910
ANSWER: A
What Provision Of Indian Constitution Allows For Establishment Of An
Autonomous State Within The State Of Assam
A. Article 244
B. Article 244(B)
C. Article 244(A)
D. Article 244(C)
ANSWER: C
Where Were India- South Korea Consultations On Disarmament Held
A. New Delhi
B. Seoul
C. Tokyo
D. Bangkok
ANSWER: B
Which Company Has Developed Phi-3-mini
A. Microsoft
B. Google
C. Apple
D. Amazon
ANSWER: A
In Which Year Indian Historical Records Commission Established
A. 1915
B. 1923
C. 1900
D. 1919
ANSWER: D
With Which Country Did India Sign A Mou On HR Development In Civil Service
A. Cambodia
B. Vietnam
C. Thailand
D. Malaysia
ANSWER: A
Where Did Opening Ceremony Of First Gulf Youth Games Take Place
A. Abu Dhabi
B. Riyadh
C. Doha
D. Dubai
ANSWER: D
Which Country’s Scientists Developed Next Generation Sodium Batteries With
Fast Charging Capabilities
A. Japan
B. South Korea
C. China
D. United States
ANSWER: A
Which Volcano Is Reported To Erupt $6,000 Worth Of Gold Dust Daily
A. Mount Vinson
B. Mount Melbourne
C. Mount Erebus
D. Mount Terror
ANSWER: C
Who Was Appointed As OpenAI’s First Employee In India
A. Arjun Rao
B. Neha Sharma
C. Pragya Misra
D. Rohit Patel
ANSWER: C
Which Country Hosted First International Rainbow Tourism Conference
A. Nepal
B. Bhutan
C. Myanmar
D. Bangladesh
ANSWER: A