Current Affairs Quiz - February, 2021

Notes:
Environment Minister Prakash Javadekar launched the Indo-French year of Environment along with his French counterpart.
India and France have environment projects being undertaken in Assam, Rajasthan and a project to be started in Jharkhand. The objective of this event is to strengthen Indo-French cooperation in sustainable development.

Notes:
The second annual World Neglected Tropical Diseases (NTD) Day is observed on January 30, 2021. India is home to the world’s largest absolute burden of 11 of the major NTDs.
To celebrate the day, more than 50 landmarks representing 25 nations across the world will be lit up. India joins the celebration by lighting up the UNESCO world heritage site Qutub Minar, Delhi.

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:
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:
Former chairman of the Telecom Regulatory Authority of India (TRAI), RS Sharma is appointed as the new Chief Executive Officer of National Health Authority (NHA).
He is to replace Indu Bhushan after his three-year term. NHA is responsible for implementing the public health insurance scheme ‘Ayushman Bharat’ or Pradhan Mantri Jan Arogya Yojana. Sharma is also the Chairperson of an empowered committee on Co-WIN platform.

Notes:
India exported 4.45 million tonnes basmati rice (worth USD 4.33 billion) in financial year 2019-20. It has a 65 per cent share in global basmati trade.
Pakistan makes the rest of the global trade. Recently, Pakistan’s basmati rice has received a Geographical Indication (GI) registration within the country. India has applied to the EU for the GI tag for its basmati rice in September 2020. Both countries are exporting basmati to the EU without a GI tag from it.

Notes:
As per a recent research published in the journal “Nature”, the number of shark and ray in Indian ocean have declined by 84.7% and has been falling continuously since 1970.
The research noted that oceanic sharks and rays worldwide has fallen by 71% since the last 50 years. Also, 24 out of 31 oceanic shark and ray species are presently classified as vulnerable, endangered or critically endangered on the IUCN Red List.

Notes:
The Reserve Bank of India has recently announced a framework to strengthen the grievance redress mechanism in Banks. The framework mandates all banks (excluding regional rural banks) to have enhanced disclosures on complaints.
This move of Reserve Bank comes at the back drop of increase in customer complaints in the banking industry in the recent years.

Notes:
The Investment Board Nepal (IBN), chaired by the Prime Minister KP Sharma Oli has awarded the Arun Hydropower Project to India’s Satluj Jal Vidyut Nigam.
The project to develop the 679-megawatt Lower Arun Hydropower Project, is awarded to the SJVN under the build, own, operate and transfer (BOOT) delivery method. The project cost is estimated at over 100 billion Nepalese rupees.

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.