Explanation:

• President of India Shri Ram Nath Kovind inaugurated the Dharma Chakra Day also known as Asaadh Poornima, on 4 July 2020 from the Rashtrapati Bhavan. 
• The day is celebrated by the Buddhists all over the world as the day of Dharma Chakra Parvattana or Turning of the Wheel of Dharma.
• The Dharma Chakra Day will be celebrated by the International Buddhist Confederation (IBC), which functions under the aegis of Union Ministry of Culture.  
• The day commemorates Buddha's First Sermon to his first five ascetic disciples at the Deer Park, Rsipatana in the present-day Sarnath near Varanasi, UP.