Current Affairs Quiz - February, 2020

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:
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:
A private Indian firm has recently unveiled the indigenous air to ground missile ‘Khagantak’, during the ongoing DefExpo 2020. The firm has manufactured the air to ground missile with a strike range of 180 km.
The Managing Director of JSR Dynamics Air Marshal SB Deo announced the missile and said that when released from a height of 12 km, the missile is an air-launch weapon. It can be used as a guide weapon, which also has artificial intelligence (AI) to recognise the targets. Such indigenous missiles are expected to be a boost to the ‘Make in India’ initiative and reduce our dependence on foreign defence manufacturers.

Notes:
Batterygate refers to implementation of performance controls on older models of Apple’s iPhone line in order to preserve system stability on degraded batteries.

Notes:
Hollywood actor Muhammad Ali is playing Dr. Kalama’s role in the movie. The movie is a co-production of Suvarna Pappu, Managing Director of a Hollywood Production House, Hollywood Director, Jagadeesh Daneti and Hollywood Producer & Director Johnny Martin.

Notes:
The Nutan International Theatre Festival (NITF) began on Feb 1 in Jammu and has veen a big it. This is first time in history of Jammu & Kashmir that a theatre festival of international repute was organized here.

Notes:
Belum cave system is the largest cave system open to the public on Indian subcontinent extending about 3,229 meters. It is located in Kurnool District of Andhra Pradesh. The recently concluded Belum Caves festival promoted the caves system.

Notes:
The state of Maharashtra recently announced that ‘Bharosa Centre’ would be launched in the state to monitor the impact of social media on youth.
The proposed Centre would comprise a psychologist, woman police officer and counsellor in the Raigad district of the state to monitor the impact of social media on youth. The announcement was made during the closing ceremony of the seventh Aurangabad International Film Festival.

Notes:
The state government of Haryana has launched an initiative called ‘Reading Mission- Haryana’. The initiative was launched to encourage reading habit among the young students of the state.
The scheme is on the lines of the ‘Reading Mission 2022’, launched by the central government. Under the state’s initiative, monthly book review sessions and mass book reading are to be organised by students in educational institutions.

Notes:
The Indian government has recently announced that it has decided to rename the National Institute of Financial Management (NIFM), Faridabad, as ‘Arun Jaitley National Institute of Financial Management’ (AJNIFM).
NIFM, Faridabad was established in 1993 under the Department of Expenditure, Ministry of Finance. The Union Finance Minister serves as the President of NIFM. It trains officers of finance and accounts services recruited by the Union Public Service Commission (UPSC) and Indian Cost Accounts Service (ICoAS) officers.