Current Affairs April 2024
April 2024 witnessed several momentous events across diverse sectors including sports, economics, technology, and politics. This month provided significant insights into India’s economic growth, global billionaires rankings, RBI’s monetary policy, and notable achievements in sports. Let’s explore the key events of April 2024 in more detail.
1. Hockey India Awards 2023: Celebrating Indian Hockey
The Hockey India Awards 2023 took place in April 2024, recognizing the outstanding performances of Hardik Singh and Salima Tete, who were awarded the Player of the Year 2023 in the men’s and women’s categories, respectively.
- Hardik Singh, known for his remarkable agility and leadership on the field, played a crucial role in taking Indian hockey to new heights.
- Salima Tete has been a driving force behind India’s women’s team success, showing excellent technique and perseverance throughout the season.
This recognition not only honors their achievements but also encourages the younger generation to pursue excellence in sports. India’s position in global hockey has improved significantly, and these athletes’ performances have been pivotal in India’s overall growth in this sport.
2. Forbes 38th Annual World’s Billionaires List 2024: Mukesh Ambani Shines Again
The Forbes Billionaires List 2024 is a much-anticipated event that showcases the financial elites of the world. This year, Mukesh Ambani, the Chairman of Reliance Industries Limited (RIL), was ranked as the 9th richest person globally. Ambani has maintained his status as India’s wealthiest person, with an estimated net worth of $116 billion.
In addition, Nikhil Kamath, co-founder of Zerodha, earned a spot as the youngest Indian billionaire, further solidifying India’s growing presence on the global stage. Forbes’ 2024 List includes:
Top 3 Global Billionaires:
- Bernard Arnault & Family (France) – Net Worth: $233 billion
- Elon Musk (USA) – Net Worth: $195 billion
- Jeff Bezos (USA) – Net Worth: $194 billion
Top Indian Billionaires:
- Mukesh Ambani: $116 billion
- Gautam Adani: $84 billion
- Shiv Nadar: $36.9 billion
This list provides valuable insights into the economic powerhouses of 2024, with India remaining a strong contender in global wealth accumulation.
3. RBI Monetary Policy: April 2024 – No Change in Key Rates
On April 5, 2024, RBI Governor Shaktikanta Das announced that the RBI Monetary Policy Committee (MPC) would keep key policy rates unchanged at 6.5%. This decision was made despite the central bank observing a reduction in core inflation.
- MSF Rate: Unchanged at 6.75%
- Bank Rate: Stays at 6.75%
This move reflects the central bank’s cautious approach in maintaining economic stability while controlling inflation.
4. Global Unicorn Landscape: India’s Unicorn Slowdown
According to the Hurun Global Unicorn Index 2024, India retained its position as the third-largest country with 67 unicorns, despite experiencing a slowdown in the number of new unicorns. This marks the first decline in unicorn creation since 2017. However, Indian entrepreneurs continue to make significant contributions globally, with 109 unicorns founded outside India.
- Top 3 Countries with Most Unicorns:
- United States: 703 unicorns
- China: 340 unicorns
- India: 67 unicorns
The index also highlights 2024 as the “Year of AI”, with AI-driven startups like OpenAI becoming major players in the global market.
5. India’s GST Collection for March 2024: Record High
India achieved its second-highest ever GST collection in March 2024, amounting to Rs 1.78 lakh crore. This marks a significant 11.5% increase compared to March 2023, reflecting the effectiveness of India’s tax administration system.
6. Kotak Mahindra Bank Faces Regulatory Action
In a notable event in the banking sector, Kotak Mahindra Bank experienced a sharp 10% drop in shares after the Reserve Bank of India (RBI) imposed regulatory restrictions. The bank was penalized for IT deficiencies identified during the 2022 and 2023 periods, leading to an operational freeze on new customer onboarding and issuing credit cards.
7. World Bank’s Revised GDP Forecast for India: Steady Growth
In its latest economic report, the World Bank projected India’s GDP growth at 6.6% for FY 2024-25. Despite facing global economic headwinds, India’s growth trajectory remains strong, driven by robust domestic demand and government reforms.
8. Dubai’s Ambitious Al Maktoum International Airport
Dubai is making headlines with the construction of the world’s largest airport, Al Maktoum International, set to handle 260 million passengers annually. The airport is a testament to Dubai’s vision of becoming a global hub for tourism and commerce.
9. India’s High-Speed Bullet Train Initiative: A Leap into the Future
India is gearing up to launch its first indigenous bullet train, designed to operate at speeds above 250 km/h. This project, part of India’s infrastructure development plans, will revolutionize transportation in the country and is expected to significantly reduce travel times between major cities.
10. Adani Ports Acquires Gopalpur Port
Adani Ports took a major step in expanding its footprint by acquiring a 95% stake in Gopalpur Port, Odisha. The deal, valued at Rs 3,350 crore, highlights Adani’s aggressive push in the ports and logistics sector.
11. Notable Deaths in April 2024
Several eminent personalities passed away in April 2024:
- Juan Vicente Perez Mora, the world’s oldest living man, passed away just shy of his 115th birthday.
- Peter Higgs, the Nobel-winning physicist known for his work on the Higgs-Boson Particle or “God Particle,” died at the age of 94.
Conclusion: Key Takeaways from April 2024
The current affairs of April 2024 provided valuable insights into various sectors, from India’s growing economic power and the development of high-tech infrastructure to notable global achievements in science and sports. These developments reflect not only India’s role on the global stage but also the broader global trends that are shaping our world. By closely analyzing these events, we gain a deeper understanding of the trends, challenges, and opportunities that lie ahead for 2024.
MCQs on Current Affairs – April 2024
Who was named the men’s Player of the Year for 2023 at the Hockey India Awards?
a) Manpreet Singh
b) Hardik Singh
c) Harmanpreet Singh
d) Gurjant Singh
Answer: b) Hardik SinghWhich Indian billionaire ranked 9th on the Forbes Billionaires List 2024?
a) Gautam Adani
b) Nikhil Kamath
c) Mukesh Ambani
d) Cyrus Poonawala
Answer: c) Mukesh AmbaniWhat was the policy rate announced by RBI for April 2024?
a) 7.0%
b) 6.75%
c) 6.5%
d) 5.5%
Answer: c) 6.5%How many unicorns were founded outside India by Indian entrepreneurs according to the Hurun Global Unicorn Index 2024?
a) 67
b) 109
c) 90
d) 45
Answer: b) 109Which country ranked first in the number of billionaires in 2024?
a) China
b) USA
c) India
d) Germany
Answer: b) USAWho was named the women’s Player of the Year at the Hockey India Awards 2023?
a) Rani Rampal
b) Vandana Katariya
c) Salima Tete
d) Deep Grace Ekka
Answer: c) Salima TeteWhich company ranked first in the global unicorn index 2024?
a) USA
b) China
c) India
d) United Kingdom
Answer: a) USAWhat was the GST collection of India for March 2024?
a) Rs 1.50 lakh crore
b) Rs 1.68 lakh crore
c) Rs 1.78 lakh crore
d) Rs 1.88 lakh crore
Answer: c) Rs 1.78 lakh crore
