Prediction of the primordial abundances of elements in the big-bang nucleosynthesis (BBN) is one of the three strong evidences for the big bang model. Precise knowledge of the baryon-to-photon ratio of the Universe from observations of the anisotropies of cosmic microwave background radiation has made the Standard BBN a parameter-free theory. Although, there is a good agreement over a range of nine orders of magnitude between abundances of light elements deduced from observations and calculated in primordial nucleosynthesis, there remains a yet-unexplained discrepancy of $^7$Li abundance higher by a factor of $\sim 3$ when calculated theoretically. The primordial abundances depend on the astrophysical nuclear reaction rates and on three additional parameters, the number of light neutrino flavours, the neutron lifetime and the baryon-to-photon ratio in the universe. The effect of the modification of thirty-five reaction rates on light element abundance yields in BBN was investigated earlier by us. In the present work we have incorporated the most recent values of neutron lifetime and the baryon-to-photon ratio and further modified $^3$He($^4$He,$\gamma$)$^7$Be reaction rate which is used directly for estimating the formation of $^7$Li as a result of $\beta^+$ decay as well as the reaction rates for t($^4$He,$\gamma$)$^7$Li and d($^4$He,$\gamma$)$^6$Li. We find that these modifications reduce the theoretically calculated abundance of $^7$Li by $\sim 12\%$.
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