Current Affairs Quiz - December, 2020

Notes:
The Gross Domestic Product (GDP) of India has contracted by 7.5 % in the second quarter of the financial year 2020-21. The contraction in GDP is registered for the second consecutive quarter and hence India is said to have entered ‘Technical Recession’.
The real GDP in the first quarter of 2020-21 (April – June) registered a record low of 23.9% contraction.

Notes:
The Asian Development Bank (ADB) and the Government of India has recently signed a USD132.8 million loan to modernize the distribution network and improve the quality of power supplied in Meghalaya.
This project supports the state government’s initiative “24×7 Power for All” initiative. This will also help the state reduce its high technical and commercial losses. Meghalaya has achieved 100 per cent electrification while there were incidents of frequent power interruptions.

Notes:
‘Day of Remembrance for all Victims of Chemical Warfare’ is observed on November 30 every year, across the world.
United Nations observes the day to pay tribute to millions of lives lost round the globe in the wake of chemical warfare. ‘Organisation for the Prohibition of Chemical Weapons’ (OPCW) is the implementing body for Chemical Weapons Convention. It is headquartered at the Hague, Netherlands.

Notes:
Manila-based Asian Development Bank has signed a USD 50-million policy-based loan for the West Bengal Public Finance Management Investment Programme.
The loan aims to improve financial management and operational efficiencies of the state. A centre for fiscal policy and public finance will be established along with a web-based grievance redressal system for transport corporations and urban local bodies.

Notes:
Recently, a NGR (negotiating group on rules) meeting on fisheries subsidies was organized by the World Trade Organization.
Indian Ambassador and Permanent Representative to the WTO has stated that member countries should cut down subsidies on unsustainable fishing which leads to the problem of over fishing. India also asked to reduce the role of dispute panels in fisheries management.

Notes:
One of the two lesser florican birds that was tagged by the Gujarat forest department has flown all the way to the state of Telangana.
The bird was tagged at the Blackbuck National Park (BBNP), Velavadar, in Bhavnagar. This has confirmed a research finding that lesser florican birds migrate to peninsular India from the western part of India after their breeding season.

Notes:
India Empowerment Fund is set to be launched by the IIT Alumni Council for investing a sum of Rs.50,000 crore in India’s research system.
The fund would be invested in a period of 10 years. The fund will be operated as IIT Angel Fund and would be regulated under Angel Investor Funds.

Notes:
The National Green Tribunal (NGT) has directed the Odisha government to prepare an action plan within three months on 14 identified elephant corridors.
The State government had proposed 14 corridors, for providing stress-free migration to elephants from one habitation to another in the state. The 870 sq km-area proposal did not record any progress and so NGT issued directions to the state.

Notes:
Bihar state is set to organise the first ever migratory bird festival this year. This three-day long festival is aimed to enhance the awareness about migratory birds among common public and to check cases of poaching in the region.
The festival would be jointly organised by Bhagalpur forest division, Bombay Natural History Society and Mandar Nature Club of Bihar.

Notes:
In its Global Economic Outlook, the Fitch ratings has raised India’s GDP forecast to -9.4 per cent in the current fiscal year.
Earlier, Fitch had estimated that Indian economy would contract by 10.5 per cent in current fiscal 2020-21. Now, the firm says that the outlook is brighter due to an expected rollout of vaccines in 2021.