In one aspect, an apparatus for use in a drilling assembly is disclosed that in one embodiment includes a flow control device that further includes: a fluid flow path having an inlet and an outlet; an electromagnetic circuit that includes a closing member made from a soft magnetic or magnetic material as a part of the electromagnetic circuit, wherein the closing member moves from a first open position to a second closed position to close the fluid flow path to produce a pressure pulse in a fluid flowing through the fluid flow path when the electromagnetic circuit is formed.