Current Affairs Quiz - August, 2019

Notes:
On 23rd August 2019, Prime Minister Narendra Modi will embark on a 3-day official visit to the United Arab Emirates (UAE) and Bahrain. During the visit, PM Modi will receive the the UAE’s highest civil honour ‘Order of Zayed”. The honour was conferred to him in April 2019 in recognition of his distinguished leadership that gave a big boost to bilateral relations between the two countries. The award is named after the UAE’s founding father Sheikh Zayed bin Sultan Al Nahyan. It acquires special significance as it was awarded to PM Modi in the year of the birth centenary of Sheikh Zayed. So far, six countries — Russia, South Korea, Saudi Arabia, UAE, Palestine and Afghanistan — have given their highest award to Prime Minister Modi.After that, PM Modi will visit Bahrain that will be the first-ever Prime Ministerial visit from India to Bahrain.

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The task force, headed by CBDT member Akhilesh Ranjan, constituted by the Union government for drafting the new Direct Tax Code (DTC) has recently submitted its report to Union Minister of Finance and Corporate Affairs Nirmala Sitharaman. The task force was constituted to replace the 6-decades-old Income Tax Act 1961. It is believed that the task force has suggested changes in the slab for personal income tax & corporate tax. At present, the personal income tax structure has 3 categories — for people below the age of 60, for people above the age of 60 but less than 80, and the third for people of 80 years and above. Currently, companies with turnover up to Rs 400 crore attract tax at the rate of 25%. This covers 99.3% of all the companies registered. Now, the report is expected to be placed in Parliament as a part of Union Budget 2020-21.

Notes:
By using sugar, sulphuric acid and salt, the researchers of IIT Hyderabad have developed a cheap and efficient nano-carbon catalyst to help in the production of biofuel precursors. The catalyst showed better efficiency and selectivity than the commercially available variants to produce the desired C15 oxygenated hydrocarbon — a precursor to diesel and jet fuel. This development is important as States like Uttar Pradesh and Andhra Pradesh /Telengana produce a large amount of corncob waste in the country. This can be converted into valuable fuel instead of being burnt. The nano-carbon catalyst developed by the institute can enable conversion into biofuel (fuel from biological sources rather than fossil fuels) and provide an additional earning opportunity for the corn farmer, besides being a sustainable energy source.

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On 22nd August 2019, Union Minister of State for AYUSH Shripad Yesso Naik inaugurated the two-day National Conference on Varmam Science in Chennai, Tamil Nadu. ‘Varmam’ is a constituent of the Siddha system of medicine, that also doubles up as a martial art. The national conference is being organized by the National Institute of Siddha in Chennai.

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On 18th August 2019, visitors to the Injambakkam beach in Chennai and Besant Nagar’s Eliot’s Beach noticed a blue shimmer on the waves i.e. Popularly known as ‘Sea Tinkle’. According to marine experts, the Noctiluca algae were behind this blue glow phenomenon. The algae exhibit the phenomenon of bioluminescence (or biologically produce light when disturbed). The light is produced by a chemical reaction in the presence of oxygen involving an enzyme called “luciferase”. Bioluminescence has been observed in fireflies, a few beetles and in marine creatures such as Anglerfish and copepods. Though the sight that algae produce is beautiful, their arrival may not be good news for marine health. Noctiluca are known to be voracious predators of planktonic organisms(diatoms) that leads to disruption of the marine food chain. Such blooms have been reported annually in the Northern Arabian Sea since the early 2000s. Goa, Mumbai and the backwaters of Kerala have witnessed these algal blooms. Recently the magical glow featured in the Malayalam movie Kumbalangi Nights, which gained much attention.

Notes:
The World Bank (WB) has recently released a report titled ‘Quality Unknown: The Invisible Water Crisis’ to address human and environmental harm. The study evaluated how a combination of bacteria, sewage, chemicals and plastics suck oxygen from water supplies and transform water into poison for people and ecosystems. Both rich and poor countries are at risk from poor water quality as a result of pollution. The researchers noted that a key contributor to poor water quality is nitrogen, which, applied as fertiliser in agriculture, eventually enters rivers, lakes and oceans where it transforms into nitrates. Early exposure of children to nitrates affects their growth and brain development, impacting their health and adult earning potential. The report also found that when Biological Oxygen Demand (an indicator of overall water quality) crosses a certain threshold, GDP growth in areas affected by the problem drops by as much as a third because of the impact on health, agriculture and ecosystems.

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The World Senior Citizen’s Day (WSCD) is celebrated every year on 21st of August to raise awareness about the issues that affect older adults. and to support them throughout the aging process. The day also recognizes & acknowledges the contributions of older people to the society. It provides an opportunity to show our appreciation for their dedication, accomplishments, and services they give throughout their lives.

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The Telangana Government has signed a Memorandum of Understanding (MoU) with Google India for ‘Digital Telangana’. The MoU will improve and get more local language content online using Google’s digital publishing tool “Navlekha”. As part of the MoU, Google will work with the state government to help digitize the government’s content in Telugu to make it easier for the common man to get access to all the information and services on government sites in their local languages. Apart from this, Google will also collaborate with the government to support its digital literacy vision and aid in the overall digitization agenda of the state.

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The first-ever International Day for Victims of Acts of Violence based on Religion or Belief is observed on 22nd of August 2019 to honour the victims and survivors of heinous acts who often remain forgotten. This is a great opportunity to raise awareness about religious intolerance, and violence and discrimination against anyone based on their religion or belief.

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The Government of India (GoI) has recently notified the Sabka Vishwas – Legacy Dispute Resolution Scheme 2019 to reduce legacy service tax and central excise cases in the pre-GST era. The scheme will be operationalized from 1st September 2019 & would continue till 31st December 2019. The two main components of the Scheme are dispute resolution and amnesty. The most attractive aspect of the scheme is that it provides substantial relief in tax dues for all categories of cases as well as full waiver of interest, fine and penalty. For all the cases pending in adjudication or appeal – in any forum – this Scheme offers a relief of 70% from the duty demand if it is Rs.50 lakhs or less and 50% if it is more than Rs. 50 lakhs. The same relief is available for cases under investigation and audit where the duty involved is quantified and communicated to the party or admitted by him in a statement on or before June 30, 2019. The scheme is especially tailored to free the large number of small taxpayers of their pending disputes with the tax administration.