Current Affairs Quiz: February 04, 2020

Notes:
In the Union Budget 2020-21, the Government has set its disinvestment target at ₹ 1.2 Lakh Crores for the fiscal year 2020-21. The government also expects ₹90,000 crore revenue from disinvestment of government stake in public sector banks and financial institutions, including the LIC and IDBI bank. This is in addition to the 1.2 Lakh Crore target and hence a total of ₹ 2.1 Lakh Crores worth disinvestment is scheduled.
This year, the government has missed the disinvestment target of ₹1.05 lakh crore. So far, ₹18,000 crore has been generated via disinvestment. The revised estimates set ₹65,000 crore as disinvestment target for this fiscal.

Notes:
In the recent Union Budget 2020-21, the government has estimated the fiscal deficit target for 2020-21 at 3.5 per cent of GDP (Budget Estimate).
The fiscal deficit target for 2019-20 was estimated at 3.3% earlier, which has also been revised to 3.8% of GDP, citing revenue shortage as the reason. Under the Fiscal Responsibility and Budget Management (FRBM) Act, the Section 4 (2) permits the government to relax its fiscal deficit target during time of unanticipated stress. This section has been used to increase the previous target to 3.8% in the revised estimates.

Notes:
The Union Finance Minister hiked the maximum insurance provided for bank deposits to ₹ 5 Lakh, per depositor, in her recent Union Budget 20-21.
As per the existing guidelines of the Reserve Bank of India, deposits of the customers with all commercial banks and cooperative banks are insured under the Deposit Insurance and Credit Guarantee Corporation (DICGC). Each depositor is insured up to a maximum of ₹1 lakh on deposits in all types of accounts (current, savings, fixed) in a particular bank. This 1 lakh limit is now increased to 5 lakhs, per depositor.

Notes:
A new scheme was proposed in the budget, which is to be implemented by the Aviation Ministry, for transporting agricultural products of farmers. The scheme was named as ‘Krishi Udan Scheme’.
The scheme is to be launched by the ministry on both international and national routes, which will improve the value realisation on the agricultural products of the farmers. The scheme will assist the farmers with more focus on north-east and tribal districts. The UDAN scheme was launched in 2016, to boost regional connectivity at affordable air-fares. The airlines are provided concessions from the centre, state and airport operators.

Notes:
The Serb Tennis star Novak Djokovic clinched his eighth Australian Open title, second in a row, by defeating Dominic Thiem of Austria 6-4, 4-6, 2-6, 6-3, 6-4, in the Australian open finals.
This is the 17th Grand Slam trophy of Djokovic, in his entire tennis career, and he is only behind the other two stars Roger Federer (20) and Rafael Nadal (19). The 32-year-old ace tennis player had already won 5 Wimbledon, 3 U.S Open and 1 French Open titles. This is also his fifth trophy from the last seven major Grand slams, he had competed.