Current Affairs 05 April: RBI keeps interest rates steady at 6.5% for the seventh time, President launches first indigenous gene therapy of cancer

Apr 5, 2024 Divya Bharat

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Current Affairs RBI Kept Interest Rates Steady At 6.5% For The Seventh Time, President Launched The First Indigenous Gene Therapy For Cancer

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Sonia Gandhi became Rajya Sabha MP for the first time. 'Agni Prime' missile successfully tested. At the same time, the central government increased the windfall tax on crude oil by 39%.

Let us have a look at such major current affairs of today, which are important for the students preparing for government jobs…

BUSINESS

1. No change in repo rate for the seventh consecutive time: On April 5, Reserve Bank of India (RBI) Governor Shaktikanta Das informed about the decisions taken in the Monetary Policy Committee (MPC) meeting. He said that RBI has not changed the interest rates for the seventh consecutive time.

RBI has kept the interest rates unchanged at 6.5%.
Loans will not be expensive and your EMI will also not increase.
RBI last raised rates by 0.25% to 6.5% in February 2023.
The RBI Governor has estimated inflation to be 4.5% and real GDP growth to be 7% in the financial year 2024-25.
RBI's MPC has six members, including both external and RBI officials.
Along with Governor Das, RBI official Rajeev Ranjan serves as the executive director and Michael Debabrata Patra is the deputy governor.
Shashank Bhide, Ashima Goyal and Jayant R Verma are external members.

2. Government increases 39% windfall tax on crude oil: On April 4, the Central Government increased the windfall tax on domestically produced crude by 39% from Rs 4,900 to Rs 6,800 per tonne. Zero export charge continues on diesel, petrol and aviation fuel.

On March 15 itself, the central government had increased the windfall tax on crude from Rs 4,600 to Rs 4,900 per tonne.

Due to the rise in global crude oil prices again, the government has also increased the windfall tax.
This tax is levied in the form of Special Additional Excise Duty (SAED).
Windfall tax is imposed when an industry makes higher than normal or unexpected profits.
Windfall tax is imposed on domestic crude oil if global benchmark rates exceed $75 per barrel.
If the margin in oil production exceeds $20 per barrel, there is a levy on the export of diesel, petrol and aviation fuel.
Windfall tax was first imposed in July 2022 on rising prices of crude oil.

LAUNCH & EVENT

3. First indigenous gene therapy for cancer treatment launched: On April 4, President Draupadi Murmu attended the launching event of cancer therapy at the Indian Institute of Technology (IIT) Bombay. Here he introduced the first indigenous CAR T-cell therapy for the treatment of cancer.

President Draupadi Murmu said that the new thing about this indigenous therapy is that its cost is 90% less than the therapy available elsewhere.

This gene based therapy will help in curing various types of cancer.
This is India's first Made in India CAR T-Cell therapy.
Compared to other therapies, this is the cheapest CAR T-Cell therapy in the world.
It was developed by IIT Bombay, Tata Memorial Hospital in collaboration with ImmunoAct.
CAR T-cell therapy stimulates the patient's immune system to fight cancer.
India is the second largest country in Asia to struggle with this disease.

NATIONAL

4. Sonia Gandhi becomes Rajya Sabha MP: On April 4, former Congress President Sonia Gandhi took oath as Rajya Sabha MP. She has been elected Rajya Sabha MP from Rajasthan. Rajya Sabha Chairman and Vice President Jagdeep Dhankhar administered the oath to him.

Sonia Gandhi has reached Rajya Sabha for the first time as an MP from Rajasthan.

Sonia Gandhi became the national president of the Congress Party in 1998.
In 1999, she reached the Lok Sabha for the first time by contesting elections from Bellary (Karnataka) and Amethi (Uttar Pradesh).
In 2004, he contested elections from Rae Bareli instead of Amethi and won.
Sonia Gandhi is a five-time Lok Sabha MP.
Apart from Sonia Gandhi, BJP leader and Railway Minister Ashwini Vaishnav also took oath.
Ashwini Vaishnav has been elected Rajya Sabha MP from Odisha.

Defense

5. Successful test of 'Agni Prime' missile: Dr. A.P.J. on 3 April on Odisha coast. Ballistic missile 'Agni Prime' was successfully tested from Abdul Kalam Island. This test has been conducted by Strategic Force Command (SFC) in collaboration with Defense Research and Development Organization (DRDO).

'Agni Prime' missile is an advanced version of Agni category missiles.

The maximum range of 'Agni Prime' is 1,000 to 2,000 kilometers.
The weight of 'Agni Prime' is also less compared to other Agni missiles.
Due to its advanced design, it can be transported through road and rail.
This missile is capable of carrying high intensity explosive, thermobaric or nuclear weapons.
MIRV warhead can be installed on this nuclear ballistic missile.
The first test of the 'Agni Prime' missile was conducted in 2021.

TODAY'S HISTORY

History of 05 April: The Indian Merchant Navy was started on this day in 1919. The first ship of Scindia Steam Navigation Company was launched on this day. This ship had left from Mumbai for London.

Every year 5th April is celebrated as 'National Maritime Day' for the Merchant Navy.

In 2008, Parvathy Omanakuttan became Femina Miss India World.
In 2003, a proposal to cut financial help to Pakistan was presented in the US Parliament.
Viagra was banned in Iraq in 1999.
In 1991, the spacecraft Atlantis 8 was launched.
In 1961, the first Government of India sponsored Indian Drugs and Pharmaceutical Limited Company was established.
The country's first Naval Museum was opened in Mumbai in 1979.
In 1930, Mahatma Gandhi reached Dandi with his supporters to break the salt law.

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