Current Affairs Quiz - May, 2019

Notes:
The Indira Gandhi National Open University (IGNOU) has launched an awareness programme on Goods and Services Tax (GST) in collaboration with Bombay Stock Exchange (BSE) Institute Limited to help small scale businesses. The purpose of the GST programme is to impart basic knowledge and skills required to fulfil various requirements under the GST Act. It would be beneficial to people who are engaged in maintaining accounts and filing of various indirect tax returns. The main objective of the programme is to impart skills to book keeping professionals to file various regular GST returns along with the various compliance requirements. Those who have passed Class 12 are eligible for the course, which will be offered in January and July cycle of admissions.

Notes:
According to latest data released by global think-tank Stockholm International Peace Research Institute (SIPRI), the total world military expenditure rose by 2.6% to $1,822 billion in 2018. As per new data, the United States is the world’s largest spender on defence in 2018, with a military expenditure almost equal to the next eight countries combined. China ($250 billion) has acquired 2nd position followed by Saudi Arabia ($67.6 billion), India ($66.5 billion) and France ($63.8 billion). The study found that the United States increased its military expenditure for the first time since 2010. China’s military spending rose for the 24th consecutive year.

Notes:
The Pakistan Air Force (PAF) has decided to observe its retaliatory action on February 27 against the Indian air strikes on the Balakot terror camp as ‘Operation Swift Retort’. The tensions between India and Pakistan had escalated after the 14th February 2019 attack by a Pakistan-based Jaish-e-Mohammed (JeM) suicide bomber in Pulwama that killed 40 CRPF soldiers. 13 days later, the Indian Air Force (IAF) carried out a counter-terror operation, hitting what it said was a JeM training camp in Balakot, deep inside Pakistan on February 26. The next day, the PAF retaliated and downed a MiG-21 in aerial combat and captured IAF Wing Commander Abhinandan Varthaman, who was later released and handed over to the Indian side on March 1.

Notes:
The Dredging Corporation of India Limited (DCIL) has inked a MoU with Water & Power Consultancy Services (India) Limited (WAPCOS) to jointly identify suitable future projects and carry out geotechnical investigation and engineering consultancy.The two firms will work together to explore projects in water resources, power and infrastructure, port and harbour dredging, shallow water dredging, beach nourishment, lake rehabilitation, flood management, erosion control, river morphology and other related sectors. WAPCOS is a mini ratna PSU under the Ministry of Water Resources, River Development and Ganga Rejuvenation. The headquarters of WAPCOS is located at New Delhi.

Notes:
For the second year in a row, Iraq has become India’s top crude oil supplier in 2018-19 fiscal year and meet more than a fifth of the country’s oil needs. According to official data sourced from the Directorate General of Commercial Intelligence and Statistics, Iraq sold 46.61 million tonnes (mt) of crude oil to India during April 2018 and March 2019, which is 2% more than 45.74 mt it had supplied in 2017-18 fiscal. Saudi Arabia also maintained its position as the 2nd-largest crude supplier to India during the year followed by Iran and United Arab Emirates (UAE) which toppled Venezuela to become India’s fourth largest crude supplier. Despite US sanctions on Iran, the country’s crude oil supply to India increased 6.24% to 24 MT in 2018-19. India managed to import a sizeable amount of Iranian crude last year primarily due to waivers and winding down period provided by US.

Notes:
In Meghalaya, the Geological Survey of India (GSI) North Eastern Region (NER) has recently installed two geological display boards at two important geological sites in the State with geo-scientific information which will help in creating awareness among visiting tourists, students and the general public. The boards are unvieled at two important geological sites in the State namely Mawmluh cave and Therriaghat, Sobhar in East Khasi Hill District. The stalagmite in the Mawmluh cave has been tagged a Global Stratotype Section and Point (GSSP). It makes it first formally ratified marker of a geological time period in India. The Um-Sohryngkew (Wahrew) river section at Therriaghat is known for having the most complete records of Cretaceous-Palaeogene (K-Pg) boundary transition in India. There is also a high level of iridium metal from the boundary which marks catastrophic event when a giant meteorite hit earth. The Meghalayan Age period began about 4200 years ago experienced an abrupt mega-drought and cooling around the world.

Notes:
The World Press Freedom Day (WPFD) is observed every year on 3rd May as an opportunity to celebrate the fundamental principles of press freedom, assess the state of press freedom throughout the world, defend the media from attacks on their independence, and pay tribute to journalists who have lost their lives in the line of duty. The 2019 theme “Media for Democracy: Journalism and Elections in Times of Disinformation”, discusses current challenges faced by media in elections and its potential in supporting peace and reconciliation processes. The 26th celebration of World Press Freedom Day (WPED-2019) is jointly organized by UNESCO, African Union Commission and the Government of Ethiopia. The main event is being held at the African Union Headquarters at Addis Ababa.

Notes:
The Generalized System of Preference (GSP) is the largest and oldest US trade preference programme and is designed to promote economic development by allowing duty-free entry for thousands of products from designated beneficiary countries. Recently, it is in news because a group of 25 influential American lawmakers has urged the US Trade Representative – Robert Lighthizer – not to terminate the GSP programme after the expiry of the 60-day notice on 3rd May 2019. They argued that terminating GSP for India would hurt American companies seeking to expand their exports to India. They also urged to continue negotiating a deal that protects and promotes jobs that rely on trade – both imports and exports – with India. President Donald Trump announced on March 4, the US intends to terminate India’s designations as a beneficiary developing country under the GSP programme.

Notes:
On the occasion of World Press Freedom Day (WPFD-2019), Vienna-based International Press Institute (IPI) said in its latest report that as many as 55 journalists have been killed since May 2018. Press freedom globally is under intense and growing pressure, as illiberal-minded governments seek to shut down critical voices and, in many cases, deliberately erode the credibility of independent media. According to a global network of journalists, Governments across the world are increasingly clamping down on press freedom as new laws are being enacted to curtail media independence. around the world. While on the one hand governments are attempting to curtail press freedom, on the other journalists around the world are being killed with impunity.

Notes:
The United Kingdom Parliament has become the first national legislative body in the world to pass national declaration (or motion) of an Environment and climate emergency. The move comes a week after 16-year-old Swedish student Greta Thunberg addressed UK lawmakers to demand more climate action, and in the wake of protests by climate action group Extinction Rebellion, who blocked major landmarks in London. Thus, the symbolic move recognizes the urgency needed to combat the climate crisis. The move will increase pressure on the government and is demanding that the country takes action to help avoid more than 1.5 degrees centigrade of warming, requiring global emissions to be cut by almost half of 2010 levels by 2030. It also calls for the government to work towards carbon neutrality before 2050 and for ministers to draft proposals within the next six months to restore the country’s environment and create a “zero waste economy”.