Current affairs 29 May 2024

China became India's largest trading partner with $118.4 billion.

• China became India's largest trading partner with $118.4 billion in two-way trade, surpassing the US, whose bilateral trade with India stood at $118.28 billion.
• In 2023-24, the trade deficit rose to:
• With China - $85 billion
• With Russia - $57.2 billion
• With Korea - $14.71 billion
• With Hong Kong - $12.2 billion
• The deficit narrowed with UAE, Saudi Arabia, Russia, and Indonesia.

Mukesh Ambani launches affordable 5G Telecom venture in Ghana.

• Reliance is launching a new telecom venture, Next-Gen InfraCo (NGIC), in Ghana.
• NGIC plans to provide 5G broadband services to mobile operators and internet service providers in Ghana by the end of 2024.
• Partners in NGIC include Nokia Oyj, Tech Mahindra, and Microsoft, with Ascend Digital Solutions Ltd. and K-NET holding a combined 55% stake, and the Ghana government owning just under 10%.

Uttar Pradesh leads in Transmission line additions by State Utilities.

• UP has topped the list for adding transmission lines of 1,460 Circuit km by state transmission utilities in FY24, according to statistics released by the Central Electricity Authority (CEA).
• Gujarat Energy Transmission Corporation Ltd - 898 Circuit km.
• UPPTCL also led in FY23 with the addition of 1,447 Circuit km of transmission lines.

Telangana govt bans gutkha and pan masala for one year.

• Telangana has banned the manufacture, storage, distribution, transportation, and sale of gutkha and pan containing tobacco and nicotine for one year, starting May 24, 2024.
• This action, announced by the Commissioner of Food Safety, aims to protect public health and curb the consumption of harmful substances.
• The ban encompasses all packaging forms including sachets, pouches, and containers.

Government to get Rs 3,662 crore from LIC as dividend.

• The Government of India will get Rs 3,662 crore as dividend for being Life Insurance Corporation (LIC) of India’s largest shareholder.
• The government owns 96.5 percent stake in the insurer or 6,10,36,22,781 shares.
• LIC reported a 2.5% year-on-year rise in net profit at Rs 13,762 crore for the March quarter of the financial year 2023-24.
• LIC: Chairperson: Siddhartha Mohanty.