Current Affairs Quiz - January, 2021

Notes:
The Toshali National Crafts Mela is annually organised in the state of Odisha. This year, the Odisha Chief Minister Naveen Patnaik recently inaugurated the event.
Many artisans from across the state and from many parts of the counry showcased their products in the handloom and handicraft fair. State Handicrafts Award and State Kalakruti Award were also presented to exceptional artisans.

Notes:
US President Joe Biden has recently proposed a five-year extension of New START Treaty with Russia.
The treaty limited the United States and Russia to 1,550 nuclear warheads each. It expires on February 5 this year since the former President Donald Trump stopped negotiations and tried to include China in the treaty.

Notes:
Palestinian Prime Minister Mohammed Ishtaye was seen in the news recently as he had a discussion with the new UN envoy on reviving the stalled peace process.
The UN envoy Tor Wennesland, is the Special Coordinator for Middle East Peace Process. He also highlighted the openness of the country on any political process sponsored by the Quartet, comprising of the US, the UN, Russia and the European Union.

Notes:
The report titled “The Inequality Virus” has been released recently by Oxfam International. The report has found that the Covid pandemic has deepened the existing inequalities.
The report has made a comparison that during the national lockdown in India its top 100 billionaires saw their fortunes increase by Rs 12.97 trillion while 70,000 people lost their jobs every hour in the month of April 2020.

Notes:
The Union Agriculture Ministry has proposed a Rs 19,000 crore National mission on edible oil for approval in the upcoming budget.
The mission seeks a five-year plan to achieve self-sufficiency in cooking oil production along with cutting its import. India spends almost Rs 75,000 crore annually in importing edible oil which will also promote local production and cut its cost.

Notes:
A 122-member armed forces contingent of Bangladesh participated in the Rajpath at the Republic Day parade of India.
This comes as a part of celebration of the 50th anniversary of the 1971 Liberation War, by India and Bangladesh. While Bangladesh takes part in the parade for the first time, it is the third foreign country after France (2016) and the UAE (2017) to take part in India’s Republic Day parade.

Notes:
The United Nations Department of Economic and Social Affairs (UN DESA) released the World Economic Situation and Prospects 2021.
As per the report, India’s economy is projected to grow at 7.3 per cent in 2021 while it is estimated to contract by 9.6 per cent in 2020. According to the UN, the reasons for the contraction are the lockdown and the fallen domestic consumption.

Notes:
The United States President Joe Biden signed an executive order, which would impose rules on government procurement practices.
Dubbed as the ‘Buy American’ order, it aims to strengthen domestic manufacturing and ensure better access to small and midsize businesses. This is a part of the ‘Build Back Better recovery plan’ proposed by Joe Biden.

Notes:
Union Bank of India announced that it has raised Rs 1,000 crore by issuing Basel III-compliant bonds on a private placement basis.
The bank issued perpetual bonds in the nature of debentures, which qualify as the Additional Tier 1 Capital of the bank. The public sector bank also announced that it will raise Rs 205 crore by issuing Basel III compliant bonds later this week.

Notes:
The third consignment comprising of three number of France manufactured Rafale fighter jets have arrived at India recently. They would be soon inducted officially into the Indian Air Force. This would move up the Rafael’s fleet to 11 aircrafts in the Indian Air Force.
In September 2016, India had signed an agreement with France for purchase of 36 Rafael fighter jets at a cost of Rs.59,000 crores.