In order to crack the Union Public Service Commission (UPSC) Civil Services exam, one is required to learn a number of subjects. Among them, current affairs form a significant part of the syllabus. So, here is your weekly dose of news of the past week.
Life Insurance Corporation (LIC) gets listed
The state-owned insurance group and investment company has chalked out plans and is set to open its IPO (Initial Public Offering) on May 14. This also marks India’s biggest IPO yet. Through this, the Indian government is aiming to sell its 3.5 percent stake in the company and meet its disinvestment targets for this fiscal. LIC is expected to garner Rs 21,000 crore through its IPO in the upper band. The price band of the IPO is fixed between Rs 902 and Rs 949 per share.
Prime Minister launches India’s first Semicon
Prime Minister Narendra Modi inaugurated the Semcion India Conference 2022 on April 29. The PM highlighted the role of semiconductors in today’s world and aimed to make India a global hub for semiconductors. Electronics and IT Minister Ashwini Vaishnaw announced that the government is planning to grant approvals to electronic chip makers in 6-8 months. With this, the government is aiming to manufacture semiconductors domestically.
Elon Musk acquires Twitter
World’s wealthiest person and founder of SpaceX, Elon Musk struck a deal to acquire the microblogging site Twitter for approximately $44 billion. By taking over the platform, Musk claims that he wants to bring free speech to Twitter and says that he will unlock the extraordinary potential it has.
Heatwave conditions across India
Parts of India witnessed its hottest March in over a century this year. According to the Indian Meteorological Department (IMD), many places are reeling under heatwave conditions and recording the highest temperature. Banda in east Uttar Pradesh witnessed the highest temperature of 47.4 degrees Celsius in April. Several other places breached the 46-degree Celsius mark including Allahabad, Lucknow, and Jhansi. Delhi, meanwhile, saw its hottest April in the past 12 years with the mercury touching 43.5 degrees Celsius on Thursday.
Russia and Ukraine conflict
Russia has continued with its invasion of Ukraine and has destroyed the port city of Mariupol. However, they have been unable to take over the last pocket of resistance which is said to be a huge steel plant housing soldiers and civilians in Mariupol. Meanwhile, the president of the USA has asked Congress to approve $33 billion in aid to Ukraine. German lawmakers, on the other hand, have voted in favor of providing heavy weapons to Ukraine including anti-aircraft systems, and armored vehicles.
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