Monthly Current Affairs May 2024
Kolkata Knight Riders Clinch Third IPL Title
Kolkata Knight Riders (KKR) secured their third IPL title with a dominant eight-wicket victory over Sunrisers Hyderabad (SRH) in the IPL 2024 final at the MA Chidambaram Stadium, Chennai. Under the astute leadership of Shreyas Iyer, KKR demonstrated consistent performance throughout the tournament, culminating in a decisive win in the final.
India Ranks 159th in World Press Freedom Index 2024
India has moved up to 159th position in the World Press Freedom Index 2024, published by Reporters Without Borders (RSF). Although it marks an improvement from the 161st rank last year, India still trails its neighbors, Pakistan (152nd) and Sri Lanka (150th). Norway retained the top spot, followed by Denmark and Sweden.
Pulitzer Prizes 2024 Announced
Columbia University announced the Pulitzer Prizes 2024, honoring excellence in journalism and the arts. The winners were selected by the Pulitzer Prize Board, and a formal ceremony will be held later this year to celebrate their achievements.
Mukesh Ambani and Gautam Adani in Top 15 of Bloomberg Billionaires Index
Mukesh Ambani and Gautam Adani have secured spots in the top 15 of the Bloomberg Billionaires Index. For the first time, all individuals in the top 15 have net worths exceeding $100 billion. Bettencourt Meyers, owner of L’Oreal, became the first woman in this elite group with a net worth of $101 billion.
Bernard Arnault Remains the World’s Richest Person
Bernard Arnault, founder and CEO of LVMH, continues to lead the list of the world’s wealthiest with a net worth of $222 billion. Jeff Bezos and Elon Musk occupy the second and third positions with net worths of $208 billion and $187 billion, respectively.
Deloitte India Revises GDP Growth Forecasts
Deloitte India revised its GDP growth projections for FY24 to 7.6%-7.8%, up from an earlier estimate of 6.9%-7.2%. The forecast for FY25 has also been revised to 6.6%, reflecting optimism about rising consumption and robust economic activity.
India Achieves Record GST Collection in April 2024
India recorded its highest-ever GST revenue of ₹2.10 lakh crore in April 2024, marking a 12.4% year-on-year growth. Domestic transactions grew by 13.4%, while imports increased by 8.3%, driving the surge in collections.
Concerns Over India’s Dependence on Chinese Goods
India’s reliance on Chinese industrial goods has grown, with China’s share of Indian imports rising from 21% to 30% over 15 years. The situation calls for strategic diversification to mitigate economic and security risks.
Cred Launches UPI-Based ‘Scan and Pay’ Service
Cred has entered the offline payments market with its UPI-based ‘Scan and Pay’ service. This feature enables users to pay via any QR code, targeting high-footfall venues such as supermarkets, salons, and fashion boutiques.
Disney Sells Minority Stake in Tata Play to Tata Group
Walt Disney has sold its 30% minority stake in Tata Play to Tata Group for approximately $1 billion. This move aligns with Disney’s plans to merge its Indian unit with Mukesh Ambani’s Viacom18, forming a $8.5 billion media powerhouse.
Iraq Criminalizes Same-Sex Relationships
Iraq has passed legislation imposing a maximum sentence of 15 years for same-sex relationships. The Law on Combating Prostitution and Homosexuality reflects growing concerns over human rights in the region.
Sri Lanka Partially Lifts Import Restrictions Amid Crisis
Sri Lanka, grappling with a financial crisis, has eased import restrictions in an attempt to revitalize its economy. The nation has been facing economic challenges since March 2020 due to a severe dollar shortage.
Nepal Reports Lowest Population Growth in 80 Years
Nepal’s population growth has slowed to 0.92% annually, the lowest in eight decades. As of 2021, the country’s population stands at approximately 29.2 million, reflecting a 2.7 million increase since 2011.
Vladimir Putin Begins Fifth Presidential Term
Vladimir Putin has embarked on his fifth term as Russia’s President, a critical period marked by global scrutiny of Russia’s political trajectory and international influence.
Iran Mourns Leaders Killed in Helicopter Crash
Iran’s President Ebrahim Raisi and Foreign Minister Hossein Amir-Abdollahian were among those killed in a helicopter crash in northwest Iran. The tragedy comes amid heightened geopolitical tensions in West Asia.
India’s E-Commerce Market Projected to Reach $325 Billion by 2030
Invest India projects India’s e-commerce market will reach $325 billion by 2030, driven by 500 million consumers and increasing internet access. In 2022, the e-commerce sector was valued at $70 billion, accounting for 7% of the retail market.
MCQs on Current Affairs May 2024
Who led Kolkata Knight Riders to their third IPL title in 2024?
a) Rohit Sharma
b) MS Dhoni
c) Shreyas Iyer
d) Rishabh Pant
Answer: c) Shreyas IyerAgainst which team did KKR win the IPL 2024 final?
a) Mumbai Indians
b) Sunrisers Hyderabad
c) Chennai Super Kings
d) Royal Challengers Bangalore
Answer: b) Sunrisers HyderabadWhat is India’s rank in the World Press Freedom Index 2024?
a) 159
b) 161
c) 152
d) 150
Answer: a) 159Which country topped the World Press Freedom Index 2024?
a) Denmark
b) Sweden
c) Norway
d) Finland
Answer: c) NorwayWho announced the Pulitzer Prizes for 2024?
a) The White House
b) Columbia University
c) New York Times
d) Washington Post
Answer: b) Columbia UniversityWhat was Deloitte India’s revised GDP growth forecast for FY24?
a) 6.5%-6.7%
b) 7.0%-7.3%
c) 7.6%-7.8%
d) 6.9%-7.2%
Answer: c) 7.6%-7.8%India’s GST revenue collection in April 2024 increased by what percentage compared to the previous year?
a) 10.2%
b) 12.4%
c) 8.3%
d) 15.5%
Answer: b) 12.4%Who became the first woman to achieve a net worth of $100 billion?
a) Melinda Gates
b) Mackenzie Scott
c) Bettencourt Meyers
d) Oprah Winfrey
Answer: c) Bettencourt MeyersWhich industrial goods’ import has raised economic concerns in India?
a) American goods
b) Chinese goods
c) European goods
d) Japanese goods
Answer: b) Chinese goodsWhat is the estimated size of India’s e-commerce market by 2030 as projected by Invest India?
a) $250 billion
b) $300 billion
c) $325 billion
d) $400 billion
Answer: c) $325 billionWhich company introduced a UPI-based ‘Scan and Pay’ service in May 2024?
a) PhonePe
b) Google Pay
c) Paytm
d) Cred
Answer: d) CredWho remains the world’s richest person in 2024?
a) Elon Musk
b) Jeff Bezos
c) Bernard Arnault
d) Gautam Adani
Answer: c) Bernard ArnaultWhat growth rate did Nepal report for its population over the past decade?
a) 1.2%
b) 0.92%
c) 1.5%
d) 0.75%
Answer: b) 0.92%How much is Walt Disney’s minority stake in Tata Play valued at?
a) $500 million
b) $750 million
c) $1 billion
d) $1.5 billion
Answer: c) $1 billionWhat is the maximum penalty under Iraq’s new law criminalizing same-sex relationships?
a) 10 years
b) 12 years
c) 15 years
d) 20 years
Answer: c) 15 years
