17th May, 2024 Current Affairs

NATIONAL
Private Sector Will Play A Major Role In Making India Developed Country By 2047

• The Private sector will play a major role in making India a developed country by 2047.
• The country’s development a compelling growth story. Quoting different economic observations, India will contribute 18 per cent to global growth in the next five years. India’s persistent demographic dividend with lowest dependency ratio for next thirty years will result in the increase in consumption.
• Stressing on India’s rising capabilities in manufacturing and service sector, the finance minister said the fastest growing economy will continue to grow fastest in coming years.
• It is also claimed that the country’s steady growth is a result of policy stability and absence of flip flops.

India Offers To Install Green Hydrogen Production Facility As Per Global Demand

• New and Renewable Energy Secretary Bhupinder Singh Bhalla has underscored the country’s determination to play a pivotal role in the global hydrogen economy.
• Addressing the World Hydrogen Summit 2024 in Rotterdam, Netherlands,he assured the delegates of India’s capability to meet any scale of production demand for green hydrogen, provided there is sufficient market demand and support.
• India’s position as a global leader in renewable energy affordability, emphasizing the nation’s low cost of renewable energy.
• India’s integrated grid infrastructure as a key enabler for the seamless integration of renewable energy sources into the national energy mix.
• The Summit audience that this integrated grid not only enhances grid stability and reliability but also enables the strategic placement of renewable energy plants, optimising efficiency and minimizing the need for long-distance transportation and storage of hydrogen.
• India’s abundant pool of skilled engineers serves as a cornerstone for the successful implementation of renewable energy and green hydrogen projects.
• The country’s installed electricity capacity from non-fossil-fuel sources is projected to increase by 50 per cent by 2030 in line with the country’s commitment to transitioning towards sustainable energy sources. He informed that currently around 43 per cent of the country’s installed electricity capacity is from non-fossil-fuel sources.

Govt Slashes Prices Of 41 Commonly Used Medicines, 6 Formulations

• The Government has slashed the prices of 41 commonly used medicines and six formulations used to treat diseases such as diabetes, heart and liver ailments.
• The decision was taken at the meeting of the National Pharmaceutical Pricing Authority NPPA in order to ensure that the cost of essential medicines remains affordable for the public. The pharma companies have been instructed to pass on the information on the reduced price of various medicines to dealers and stockists with immediate effect.

Also Read: May 7th Current Affairs: Top 11 Current Affairs Quiz Questions on Rabindranath Tagore

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INTERNATIONAL
UAE Announces 10 Year Blue Residency Visa To Environment Contributors

• The United Arab Emirates, home to a large Indian population of over 3.8 million, has announced a new visa program offering long-term residency to individuals, who significantly contribute to environmental protection and sustainability efforts.
• The 10-year Blue Residency Visa aims to attract and retain global leaders in environmental research, activism, and technological solutions.
• This visa category extends beyond the UAE’s borders, welcoming those who champion sustainability initiatives worldwide. Successful applicants can include members of international environmental organizations, award-winning researchers, and distinguished activists.
• The Blue Residency Visa stands in contrast to the UAE’s standard two-year residency permits.
• It joins previously established programs like the Golden Visa, offering a decade-long residency to investors, entrepreneurs, and specialists, and the Green Visa, granting five years to skilled professionals and business owners.
• The Blue Residency Visa coincides with the UAE’s ongoing Year of sustainability, a national commitment extending the focus on environmental initiatives and the landmark UAE consensus established during COP28, the UN Climate Change Conference held in Dubai last December.

12th Joint Working Group Meeting Between Defence Ministries Of India And Mongolia Conclude

• The 12th Joint Working Group meeting between the Defence Ministries of India and Mongolia concluded today in Ulaanbaatar, Mongolia.
• Both sides expressed satisfaction at the ongoing defence cooperation between the two countries. As per the Defence Ministry, both sides reviewed the progress on various bilateral defence cooperation initiatives and identified means to further enhance cooperation in the areas. They also exchanged views on the current geopolitical situation.
• India enjoys age-old historical, cultural and civilisation ties with Mongolia. Both countries regard each other as ‘Spiritual Neighbours’

Xi, Putin Sign & Issue Joint Statement On Deepening China-Russia Ties

• China’s President Xi Jinping and his Russian counterpart Vladimir Putin signed and issued a joint statement on deepening China-Russia comprehensive strategic partnership of coordination for a new era in Beijing. Both leaders pledged to deepen their strategic partnership.
• At a joint news briefing, both leaders Xi and Putin praised a strategic relationship between their two countries. The Chinese president said Beijing and Moscow agreed there should be a political solution to the Russia-Ukraine war. This is Putin’s first international visit since the start of his fifth presidential term.

Published date : 18 May 2024 03:03PM