Current Affairs Quiz - August, 2023

Notes:
The Italian parliament has given its approval to a contentious bill that makes it a criminal offense for citizens to travel abroad to pursue surrogacy arrangements.
This law, which has faced significant opposition, is specifically aimed at discouraging Italians from participating in surrogacy arrangements, and it carries the possibility of substantial fines exceeding USD 1 million and potential prison sentences of up to two years for those found guilty.

Notes:
Union Sports Minister Anurag Thakur confirmed that India men’s and women’s football teams will participate in the upcoming Asian Games 2023 in China.
India football teams did not get the nod to participate in the Asian Games 2018 edition. Sports Ministry of India relaxed a rule which stated that only top 8 teams in Asia will get the nod to participate.

Notes:
Finance Minister Nirmala Sitharaman said the government has decided to enable listed and unlisted domestic companies to directly list their equity shares on the International Financial Services Centre (IFSC) at Ahmedabad.
The decision will facilitate access to global capital and result in a better valuation of the Indian companies. The Finance Minister also launched Corporate Debt Market Development Fund (CDMDF) and AMC Repo Clearing Ltd (ARCL).

Notes:
The NASA’s James Webb Space Telescope has recently captured a captivating near-infrared image of the dynamic young stars, Herbig-Haro 46/47.
These are in the Vela constellation, which are about 1,470 light-years away from Planet Earth. These stars are actively forming and orbiting each other in a mesmerizing display. These stats are an  important object to study because it is relatively young — only a few thousand years old.

Notes:
Resource Efficiency Circular Economy Industry Coalition (RECEIC) was launched on the sidelines of the 4th G-20 Environment and Climate Sustainability Working Group (ECSWG) and Environment and Climate Ministers meeting in Chennai.
Union Environment, Forest and Climate Change Minister Bhupender Yadav said that this mission of this coalition is to promote greater company-to-company collaboration, build advanced capabilities across sectors, bring learnings from diverse and global experiences of the coalition members among others.

Notes:
During the G20 EMPOWER summit in Gandhinagar, India introduced TechEquity, a digital inclusion platform aimed at reducing the gender digital gap.
It is one of the key outcomes of India’s G20 presidency and it will be free for women to use. It will have courses on digital and financial literacy, tech skill development and core skill enhancement. The platform – to be funded by India for the next three years – will be maintained by Federation of Indian Chambers of Commerce & Industry (Ficci).

Notes:
The first nuclear reactor in seven years has recently entered service in Georgia in the United States. At its full output of 1,100 megawatts of electricity, Unit 3 can power 500,000 homes and businesses.
The unit which is now in commercial operation, entered seven years late and USD 17 billion over budget. A number of other utilities in Georgia, Florida and Alabama are receiving the electricity, in addition to the 2.7 million customers.

Notes:
The Rocket Force of China’s People’s Liberation Army is responsible for the strategic and tactical missile operations and is tasked with managing the nation’s nuclear arsenal.
Recently, China introduced fresh leadership for its Rocket Force, appointing new officials to replace the two previous generals who were in charge of the country’s missile forces.

Notes:
The country’s per capita income is likely to grow by close to 70 per cent to USD 4,000 by fiscal 2030 from USD 2,450 in fiscal 2023.
This will help the country to become a middle-income economy with USD 6-trillion GDP. Per capita income/GDP has risen from USD 460 in fiscal 2001 to USD 1,413 in fiscal 2011 and to USD 2,150 in fiscal 2021. The biggest growth driver will be external trade, followed by household consumption.

Notes:
In 2018, the Indian government introduced the Fugitive Economic Offenders Act (FEOA) as a measure to take action against individuals accused of committing significant economic frauds and fleeing the country to escape prosecution.
Under this act, 10 people have been declared as fugitive economic offenders by various courts, from 19 people booked by the Enforcement Directorate. These economic offenders were involved in fraud of over Rs 40,000 crores.