Current Affairs Quiz - February, 2021

Notes:
‘STARS’ stand for Strengthening Teaching-Learning and Results for States. It is a project of the Union Ministry of Education for improving the quality of education in six selected states.
The total project cost of project is Rs 5718 crore with the financial support of World Bank amounting to approximately Rs. 3700 crore. Recently, the agreement for the financial support of the project was signed with World Bank.

Notes:
The Ministry of Corporate Affairs (MCA) has recently introduced several changes to the Corporate Social Responsibility (CSR) Rules.
It includes mandatory “Impact Assessment” for big CSR projects. It also includes mandatory disclosure of all CSR projects and the CSR Committee’s composition on the company’s website.

Notes:
In the Economic Survey 2020-21 tabled in the budget session of the Parliament recently, the Government has pegged in the country’s GDP growth rate for FY 2021-22 at 11%. The GDP growth for the current financial year has been estimated at minus 7.7%.
Economic survey is an annual document prepared by the Ministry of Finance under the guidance of Chief Economic Advisor. Krishnamurthy Subramanian is the present Chief Economic Advisor.

Notes:
The state government of Rajasthan has recently reduced value-added tax (VAT) by two percent on petrol and diesel. This has relaxed the fuel prices in the state. Recently, the price of premium petrol price crossed Rs.100 in the state.
Petrol, Diesel and other fuels in India have been kept outside the ambit of Goods and Services Tax (GST). Presently, the state governments determine the VAT on these fuels.

Notes:
The National Statistical Office (NSO) recently released its revised national account data. As per the data, the economic growth rate for 2019-20 was revised downwards to 4 per cent.
The decrease from the previous estimate of 4.2 per cent was mainly due to contraction in secondary sectors like manufacturing and construction. Real GDP growth of 2018-19 is estimated at 6.5 per cent, against the 6.1 per cent revealed in January estimate.

Notes:
The National Bank for Financing Infrastructure and Development (NaBFID) Bill 2021 is to be introduced in the Budget session.
The government is set up a National Bank for Financing Infrastructure and Development (NaBFID), which will facilitate the infrastructure financing of the country. The developmental financial institution (DFI) will act as a principal financial institution and development bank to support infrastructure projects.

Notes:
Leprosy, also known as Hansen’s disease, is an infectious disease caused by a bacillus Mycobacterium leprae. It is named after the Norwegian physician Gerhard Armauer Hansen, who identified the bacterium.
World Leprosy Day is celebrated on the last Sunday of January every year to increase awareness on the disease. In India, the day is being observed on January 30 this year, on the death anniversary of Mahatma Gandhi.

Notes:
China is the largest producer of silk, in the world. It is followed by India in the second place. India is the only country in the world which produces all four major varieties of silk namely – Mulberry, Eri, Tassar, and Muga.
Recently, the Textiles Minister Smriti Irani inaugurated India’s biggest silk fair, the 8th India International Silk Fair. It is held on the virtual platform of Indian Silk Export Promotion Council.

Notes:
As per the latest Budget presented by the Union Finance Minister, the Fiscal Deficit of our economy is estimated at 9.5% of GDP for the current financial year. The same is expected to be at 6.8% of GDP for FY 2021-22.
The budget estimate of expenditure for next FY (2021-22) is Rs.34.83 lakh crore.

Notes:
The United Kingdom has recently announced that it will formally apply to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
CPTPP is a trans-Pacific trading association which removes most tariffs between 11 countries including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.