Current Affairs Quiz - March, 2020

Notes:
India recently committed to provide a grant of Nepalese Rupees 107 million (equivalent to INR 68 million) to Nepal for the construction of three school buildings.
The Embassy of India and the Ministry of Federal Affairs and General Administration of Nepal signed two Memorandum of Understandings (MoUs) for the construction of two new school buildings. These two school buildings shall be constructed under the India-Nepal Development Partnership programme.

Notes:
Prime Minister Narendra Modi during his public address, announced the setting up of a COVID-19 economic response task force.
The task force is to be headed by Finance Minister Nirmala Sitharaman, to measure the economic impact of the pandemic and take appropriate steps. The Finance Minister is set to meet the Ministers of animal husbandry, dairy and fisheries, civil aviation, tourism and MSME, for getting feedback and assessing the economic impact of COVID-19.

Notes:
The Defence Ministry has recently signed an 880-crore contract with Israel Weapons Industries (IWI) for procurement of 16,479 light machine guns (LMGs).
According to the contract which was signed with the Israel-based arms industry company, it would provide Negev 7.62 x 51 mm light machine guns to the Indian armed forces. This type of LMG is a combat proven weapon and used by several countries around the globe at present.

Notes:
The recent research of the fossil of a fish called Elpistostege watsoni has revealed the evolutionary origin of human hands.
After the research on the fossil of the fish, which was believed to be in today’s Canada about 380 million years ago, scientists have found the evolutionary origins. This research represents a crucial stage in the history of life on Earth especially the transition of fish to land vertebrates.

Notes:
Fitch Ratings has recently cut India growth forecast to 5.1 per cent for FY 2020-21. Fitch had projected India to grow at 5.6 per cent in 2020-21 and 6.5 per cent in the following year, in its previous report released in December 2019.
In its Global Economic Outlook 2020, Fitch also estimated that India will witness increased number of people affected by coronavirus, in the coming weeks. It also announced that the outbreak will remain contained amidst the downside risks to this scenario.

Notes:
Union Defence Minister Rajnath Singh unveiled an updated manual DPP-2020 (Defence Procurement Procedure-2020).
For the last 18 years, this DPP is the procurement manual that has been used for governing the purchase of weapons and equipment from the defence capital budget. The 2020 draft version aims to promote more indigenous content in defence equipment which are manufactured in India. It also introduced ‘leasing’ as another category to make defence equipment affordable.

Notes:
Afghanistan recently pledged $1 million contribution to the SAARC Corona Emergency Fund, which was proposed by the Indian Prime Minister Narendra Modi.
India proposed an initial contribution of 10 million to tackle the outbreak of the deadly coronavirus. After the announcement, Nepal and Bhutan committed nearly 1 million and 100,000 respectively to the SAARC Corona Emergency Fund. Maldives pledged 0.2 million to the fund.

Notes:
The Union Cabinet chaired by the Prime Minister of India has recently approved financial assistance to the Modified Electronics Manufacturing Clusters (EMC2.0) Scheme.
The scheme aims at developing world class infrastructure along with common facilities and amenities through Electronics Manufacturing Clusters (EMCs). The scheme seeks to set up Electronics Manufacturing Clusters (EMCs) and Common Facility Centers (CFCs). The total outlay of the EMC 2.0 Scheme is Rs. 3,762.25 crore.

Notes:
International ratings agency S&P Global Ratings has recently estimated the cost of COVID-19 outbreak for 14 Asia-Pacific countries at $620 billion.
Though a country-wise break-up was not provided for its estimate, it said that the total and permanent income loss will affect the balance-sheets of government, banks, corporates and households. Last week, S&P cut India’s growth rate to 5.2% in 2020-21.

Notes:
The birth anniversary of Dr Ram Manohar Lohia, was recently observed on March 23. The Prime Minister Narendra Modi paid tributes to the leader.
Ram Manohar Lohia was born on 23 March 1910 and was one of the founders of the Congress Socialist Party. He was also the editor of the Congress Socialist journal. He had also as the secretary of the Foreign Department of the All India Congress Committee (A.I.C.C)