National and International News Updates – May 2024

The India Meteorological Department (IMD) has issued a severe heatwave alert for parts of Northern India, including Punjab and Delhi, from May 18-20. With temperatures expected to soar up to 45 degrees Celsius in the national capital, residents are being warned to brace for scorching heat conditions.

In other news, strategic infrastructure development along India’s borders, particularly in Ladakh and Arunachal Pradesh, is set to begin with the construction of the Shinku La tunnel. This project highlights India’s commitment to enhancing connectivity and security along its borders amidst the ongoing military standoff with China.

Internationally, China’s industrial output has seen significant growth, rising by 6.7% year-on-year in April. This uptick from the 4.5% growth in March signals a strengthening recovery in the manufacturing sector, exceeding analysts’ expectations.

Meanwhile, Nepal’s Prime Minister, Prachanda, is seeking his fourth vote of confidence amidst opposition protests, while India’s economic prospects are being compared favorably to China’s by UN experts, with a projected GDP growth close to seven percent in 2024.

On the economic front, the Reserve Bank of India’s bond repurchase faced resistance from banks, resulting in a significantly lower repurchased amount. Additionally, senior advocate Kapil Sibal has been elected as the President of the Supreme Court Bar Association, and senior IPS officers have been appointed as additional directors in the CBI.

The UN has revised India’s economic growth projection for 2024 upwards to nearly 7%, emphasizing the country’s role in bolstering South Asia’s economic performance. Furthermore, India’s internet economy is expected to reach $1 trillion by 2030, driven by the e-commerce sector’s rapid growth.

Finally, in an effort to combat tax evasion, the GST portal has implemented machine registration for pan masala and tobacco manufacturers, while the Federation of Indian Export Organisations forecasts a rebound in India’s export growth for FY25.

With developments across various sectors, from infrastructure and economic projections to international affairs and environmental concerns, India continues to navigate a dynamic landscape with resilience and strategic foresight.