Current Affairs Quiz - February, 2020

Notes:
The four-day National Horticultural Fair, which is the country’s biggest horticultural fair is set to be organised at the Hessarghatta campus of the Indian Institute of Horticultural Research (IIHR), Bengaluru.
Indian Institute of Horticultural Research organises the national-level fair, which is scheduled to be held from February 5 to 8, 2020. The theme of this year’s fair is ‘Making farming an enterprise’. More than 50,000 farmers from various States of the country are expected to take part in the exhibition. Several crop varieties, horticultural technologies and practices are to be showcased in the fair.

Notes:
The Union Finance Minister Nirmala Sitharaman announced a dispute resolution scheme for direct taxes in the recent Union Budget 2020-21.
Under the proposed scheme, the taxpayers whose tax demands are locked in any dispute in any of the forums can pay their due taxes by March 31, 2020. By paying it before the deadline, the taxpayer can get complete waiver of interest and penalty. With an additional 10 per cent, he can pay up to June 30. The Finance Minister recently introduced the ‘Vivad se Vishwas’ bill in the parliament. Last year, a scheme for dispute resolution for indirect taxes called ‘Sabka Vishwas’ was launched.

Notes:
The US Chamber of Commerce Global Innovation Policy Centre (GIPC) recently released the latest edition of International intellectual property index. In the list, India is ranked 40, with a score of 38.46%, higher than the last year’s score.
India was placed at 36th rank in the last year’s list, which ranked 50 countries across the world. This year the Centre included 53 economies. The United States, the United Kingdom, Sweden, France and Germany retained their positions and were placed at the top five spots in the intellectual property index list.

Notes:
In the recent Monetary policy committee statement released by the Reserve Bank of India, it extended the deadline for one-time restructuring of GST-registered MSME borrower account to December 31,2020. The restructuring was to be implemented before March 31, 2020, as per the RBI’s earlier guidelines. It also announced that scheduled commercial banks can deduct the credit disbursed as retail loans for automobiles, housing and MSME loans from their net demand and time liabilities (NDTL) for CRR maintenance.

Notes:
E-Commerce major Flipkart recently shut down its Jabong- lifestyle and fashion e-commerce portal. The users are being redirected to the website of its another fashion company, Myntra.
Flipkart, which is now owned by Walmart, had acquired Jabong for $70 million four years back. As there was a dip in number of app downloads and its business, the portal was closed. Myntra was acquired by Flipkart in the year 2014. After it was bought by Walmart, Flipkart had merged Myntra and Jabong.

Notes:
Indian President Ramnath Govind recently conferred the International Gandhi Awards for Leprosy on Dr N.S. Dharmashaktu under the Indian nomination (individual) category. Dr N.S. Dharmashaktu was the former Principal adviser (Public health), Ministry of Health and family welfare.
The Leprosy Mission Trust was presented the award under the institutional category. The President also announced that India has accomplished the level of leprosy elimination which is defined as less than one case per ten thousand population.

Notes:
The city of Kochi, Kerala hosts the 22nd India International Seafood Show, after a gap of 12 years. The three-day seafood show has been inaugurated by the Governor of Kerala, Arif Mohammed Khan on February 7,2020.
The event will provide a platform for collaboration of the exporters and importers of the country’s marine products and seafood industry. The theme of the programme is ‘Blue Revolution: Beyond production to value addition’. Marine Product Export Development Authority (MPEDA) organises the event in association with Seafood Exporters’ Association of India.

Notes:
India’s leading defence PSU Bharat Electronics Ltd (BEL) has recently signed a Memorandum of Understanding (MoU) with RailTel Corporation of India for mutual co-operation in the fields of Cloud Services, IoT, e-Governance and Networks for Defence projects.
BEL also signed an agreement with a Bengaluru-based start-up, Newspace & Research Technologies Limited (NRT), for co-operation in design, testing and supply of Unmanned Systems. The PSU also partnered with Bharat Heavy Electricals Ltd (BHEL) to develop and market products for defence and non-defence applications. All the agreements were inked during the ongoing defence exhibition-DefExpo 2020, at Lucknow.

Notes:
Lucknow Declaration was adopted by the first ever India-Africa Defence Ministers conclave as a part of the 11TH DefExpo. In this Defexpo, 1024 exhibitors participated, 172 of them being foreign companies. 40 Defence Ministers were part of total 70 foreign delegations that visited Lucknow. The event was also called “Defence Kumbh” by UP’s Chief Minister.

Notes:
India and Nepal recently signed the financial closure of Arun-III, which is the largest hydropower project of Nepal. The 900 MW hydropower project is under construction in Nepal, with an estimated cost of $1.04 million.
The project, which is to be built with the financial assistance from India, is to be completed in 5 years. It is being built by Satluj Jal Vidyut Nigam (SJVN) Arun-III Power Development Company (SAPDC), a joint venture of the Government of India and the Government of Himachal Pradesh.