China accounts for 25% of India’s Urea imports:
- China contributes more than 25 percent of India’s total urea imports.
- India has to depend on imports as the demand for fertilizer is higher than its production.
- A total of 70.42 lakh tonnes of urea has been imported by the fertilizer sector for agricultural use in the financial year 2023-24.
- Of this, 18.65 lakh tonnes (more than 25 per cent) have been imported from China.
- 53 lakh tonnes of phosphate and potash fertilizers have been imported.
- The central government is taking various measures to increase the production of urea in India.
- Average fertilizer use in India is 140 kg per hectare of agricultural land.
- Meanwhile, in Punjab alone, fertilizer use is 247.61 kg per hectare.
Prevention of Money Laundering Act 2002:
- The Prevention of Money Laundering Act 2002 is an Act of the Parliament of India enacted by the NDA government to prevent money laundering and to confiscate the proceeds of money laundering.
- The provisions of the Anti-Money Laundering Act came into force on 1 July 2005.
- Laws and regulations require banking institutions, financial institutions and intermediaries to verify the identity of customers, maintain records and provide information.
- The Act was approved in January 2003 and came into force in July 2005.
- It was revised thrice in 2005, 2009 and 2012.
Joint Combat Exercise “Tarang Shakti”:
- India, Spain, France, Britain and Germany’s joint air force exercise called “Tarang Shakti” started at Sulur, Coimbatore.
- The training will be held till 14th August.
- It includes France’s Rafale, Europe’s Typhoon, India’s Tejas, and Sukhoi-30.
- After 61 years such training is being carried out in India.
- This training will help the soldiers of different countries to showcase their skills and familiarize themselves with the latest technologies available in the Air Force.
August 7: National Handloom Day
- It is observed on 7th August every year to honour the handloom weavers of the country.
- National Handloom Day 2024 Theme: Aims to highlight integration of technology and innovation in handloom weaving, skill development and widening market access for weavers.
Important Facts:
- IIT Indore has designed special footwear with power generation and GPS technology as an invention to enhance the safety and performance of armed forces personnel.
- Indian wrestler Vinesh phogat became the first female wrestler to defeat world number one Yu Susaki in an international competition.
- One of the major tourist spots of Namakkal district is Kollimalai, where a new 50 feet high telescope tower is being constructed.
- 15th century ‘Talaipalli’ sculptures have been discovered near Trichy.
- Ranganayaki has been elected as the Mayor of Coimbatore Corporation.
- The 5th State Planning Committee meeting is being held under the chairmanship of Chief Minister M.K. Stalin, with Jayaranjan as the Vice-Chairman of the Planning Committee.
- Yahya Sinwar was elected as the new leader of Hamas.
- President Murmu was conferred with Fiji’s highest award ‘Companion of Order.
- Fiji’s president is Katonivere.
- The new interim government in Bangladesh will be headed by Nobel laureate Muhammad Yunus.
- USA’s Noah Lyles wins men’s 100m gold medal at Paris Olympics
