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Daily Current Affairs 5th April 2023: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 5th April 2023. It includes all Major National, International, Business and Sports related current affairs of 5th April 2023. A brief explanation of every current affair is provided to further enhance your general knowledge. Once you have gone through these current affairs we would recommend to you to try 5th April 2023 Current affairs test.

 

Science & Technology:

1. Skyroot Aerospace’s Triumph with 3D-Printed Cryogenic Engine Test

  • Skyroot Aerospace has marked an essential achievement by successfully conducting a 200-second test of the fully 3D-printed ‘Dhawan II’ cryogenic engine.
  • This engine is tailored for the weightier Vikram II rocket and will function as the upper stage for its enhanced version.
  • Opting for a cryogenic upper stage, as opposed to solid fuel, amplifies the rocket’s payload-bearing capacity.
  • Significantly, Skyroot Aerospace emerged as the inaugural Indian private firm to launch a rocket into space in 2022.

National News:

2. India’s Ascent to the Second Topmost Solar Producer Slot by 2026

  • According to a collaborative report from the Institute for Energy Economics and Financial Analysis (IEEFA) and JMK Research and Analytics, India is projected to rise as the world’s runner-up in solar photovoltaic manufacturing by 2026, second only to China.
  • India’s total module manufacturing prowess has escalated from 18GW in March 2022 to a remarkable 38GW by March 2023.
  • Gujarat is spearheading among Indian states in upcoming PV manufacturing installations, contributing to approximately 57% of the forthcoming PV manufacturing capability. Key factors like affordable industrial electricity and proximity to ports have rendered Gujarat a preferred site for PV production facilities.

Banking and Financial:

3. World Bank Forecasts India’s GDP Growth Deceleration to 6.3% in FY24

  • The World Bank projects a downturn in India’s GDP growth to 6.3% for FY24, largely attributed to diminished consumption due to decelerated income expansion.
  • This forecast signifies a downward correction from the earlier 6.6% prediction for the present fiscal.
  • The World Bank’s evaluation for the past fiscal’s growth is 6.9%.
  • Addressing inflation concerns, the Reserve Bank of India has augmented interest rates by 250 basis points since May 2022.

Important Dates:

4. India Observes 60th National Maritime Day on April 5, 2023

  • India celebrated the 60th iteration of the National Maritime Day on April 5, 2023, reminiscing the pioneering journey of the maiden Indian trade ship, SS Loyalty, which navigated from Mumbai to London.
  • This annual commemoration was instituted by the Ministry of Ports, Shipping, and Waterways in 1964.
  • While the 2023 theme remains undisclosed, the National Maritime Week’s theme for the same year is ‘Amrit Kaal in Shipping.’
  • It’s pertinent to note that the global World Maritime Day is marked on September 28.

National & International Organizations:

5. Mukesh Ambani Regains Asia’s Richest Title as Per Forbes 2023

  • Forbes’ Billionaire 2023 list positions Mukesh Ambani as Asia’s wealthiest individual once more, pushing his competitor, Gautam Adani, to the 24th rank with assets worth USD 47.2 billion.
  • At 65, Ambani secured the global 9th slot on this list, boasting a net worth of USD 83.4 billion.
  • The Forbes Billionaires 2023 top rank is claimed by Bernard Arnault, LVMH’s CEO, with an astonishing net worth of USD 211 billion. He is trailed by Elon Musk, Jeff Bezos, and Larry Ellison.

Defence:

6. Indian Government Sanctions Women Officers’ Induction into Artillery

  • The Defence Ministry, represented by the Minister of State for Defence, Ajay Bhatt, has granted consent for the introduction of women officers into the Artillery Regiment.
  • This proposal’s submission occurred in January 2023, and the specific number of inductees will be ascertained upon the next Officers Training Academy (OTA) batch’s commissioning in Chennai.

7. India Finalizes Rs 2400 Crore US Arms Deal for Navy Missiles and Torpedoes

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  • The Indian government is poised to finalize a prominent arms agreement with the US, encompassing Hellfire missiles and Mark 54 anti-submarine torpedoes procurement.
  • This pact’s objective is to fortify the defense hardware collaboration between both nations.
  • These armaments will be integrated into the 24 forthcoming MH-60 helicopters of the Indian Navy.
  • Anticipated to be channeled through the Foreign Military Sales route, this deal will fortify defense ties between the two nations.
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