Current Affairs Quiz - February, 2021

Notes:
The Ministry of Environment Forest and Climate Change (MoEF&CC) has recently released ‘Marine Mega Fauna Stranding Guidelines’ and ‘National Marine Turtle Action Plan’.
The documents contain framework for handling stranded animals on shore, entangled animals in the sea or boat, management actions for reducing threats to marine species and their habitats, rehabilitation of degraded habitats, among others.

Notes:
As per a recent report by Alvarez & Marsal India, as at September 2020, it took an average of 440 days for resolving 277 cases approved by the NCLT under the IBC.
The report stressed on the need for time-bound resolution of stressed assets and enhancing the resolution processes under Insolvency and Bankruptcy code as recovery percentages fell sharply to 15-25 % whenever there is an increase in time taken for resolution.

Notes:
The corruption perception index (CPI) for the year 2020 has been released recently by Transparency International (TI). The index uses a scale of 0 to 100 to rate countries, where 0 is highly corrupt and 100 is very clean.
India slipped six places and has been ranked at 86th position out of 180 countries.

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 13-day long Khelo India Zanskar winter sports and youth festival concluded at Zanskar Valley of the Union Territory of Ladakh.
The festival was organized by the Department of Sports & Youth Services and the Ladakh Tourism Department, under the Khelo India scheme. It aims to promote the economic activities and winter tourism in Ladakh.

Notes:
Serum Institute of India has announced that it would launch a new COVID-19 vaccine under the brand name Covovax.
It would be developed in partnership with American vaccine developer Novavax, by the month of June. The company’s Covishield has been developed in partnership with the Oxford University and British-Swedish firm AstraZeneca.

Notes:
The 15th Finance Commission headed by NK Singh, with 117 core recommendation, has tabled its report in the Parliament recently.
The Finance Commission maintained the vertical devolution of taxes with the states at 41%. The divisible pool of financial resources is recommended at 42%, with 1% adjustment made for change of status. So, the vertical devolution of taxes to the states stands at 41%.

Notes:
The Government of India has decided to add 14 new minor forest produce items under the “mechanism for marketing of minor forest (MFP) produce through a minimum support price (MSP)” scheme.
This is aimed to provide remunerative and fair prices for tribal gatherers. The additional items include bamboo shoot, Tasar cocoon, elephant apple, wind dry mushroom etc.

Notes:
In the Union Budget 2021-22, Finance Minister Nirmala Sitharaman announced a scheme of Mega Investment Textiles Parks (MITRA).
The scheme is to be launched in addition to the Production Linked Incentive (PLI) scheme. It aims to help the industry become competitive, attract investments and boost employment generation. Under the scheme, 7 Textile Parks will be established over 3 years.

Notes:
Kerala Chief Minister Pinarayi Vijayan inaugurated the ‘Kerala Looks Ahead,’ a three-day virtual global conclave.
The conference aims to frame the roadmap for long-term development of the state by reaping opinions from top economists, industry leaders and administrators. Star speakers include Nobel laureate Amartya Sen, WHO Scientist Soumya Swaminathan and top industry leaders.