Current Affairs Quiz - July 2022

Notes:
Food Safety and Standards Authority of India (FSSAI) has unveiled regulations by defining what constitutes vegan foods.
‘Food Safety and Standards (Vegan Foods) Regulations, 2022’ listed out various specifications to be followed for manufacture, sale and import of such food items. The new regulations were released after considering objections and suggestions from the public

Notes:
GST Day is celebrated on July 1 to mark completion of five years of Goods & Services Tax. It was introduced in 2017, with the idea of “One Nation- One Market- One Tax”.
GST is a multi-stage, indirect consumption-based tax system that subsumed a set of domestic indirect taxes such as service tax, value-added tax, purchase tax, excise duty among others.

Notes:
Finance Minister Nirmala Sitharaman released the ‘Business Reforms Action Plan (BRAP), 2020’. Andhra Pradesh has topped the Business Reform Action Plan 2020 Rankings in the Ease of Doing Business.
It is followed by Gujarat, Haryana, Karnataka, Punjab, Telangana and Tamil Nadu. The BRAP 2020 includes 301 reform points covering 15 business regulatory areas such as Access to Information, Single Window System, Labour, Environment, Land Administration etc.

Notes:
The Advertising Standards Council of India (ASCI) is the voluntary self-regulatory body in advertising sector in India.
As per the annual complaints report, Education, healthcare and personal care are the most violative categories of advertisements. It processed 7,631 complaints at an increase of 25 per cent from last year.

Notes:
T Raja Kumar of Singapore has been appointed as the president of Financial Action Task Force (FATF), the anti-money laundering watchdog.
He has replaced Marcus Pleyer and will discharge his service for next two years. As per FATF, the President will focus on enhancing the effectiveness of global anti-money laundering  and counter-terrorist financing measures, improving asset recovery and other initiatives.

Notes:
IRDAI and National Health Authority (NHA) are set to develop a National Health Claims Exchange as a digital platform to settle health claims.
Based on a presentation from NHA, Chairman of IRDAI Debasish Panda, has proposed to create a working group with representation from the industry. It will decide how to make the largest segment of general insurance in India attract more people to buy health insurance.

Notes:
International Day of Cooperatives is celebrated on the first Saturday of July every year. The day was designated by the United Nations.
International Day of Cooperatives was observed around the world on July 2 this year. This year will mark the 100th International Day of Cooperatives, also known as Coops Day. This year’s theme for International Day of Cooperatives is – “Cooperatives Build a Better World.”

Notes:
NTPC signed a Memorandum of understanding (MOU) with the Government of Rajasthan to develop 10 GW Ultra Mega Renewable Energy Power Park in Rajasthan.
It aims to achieve the target of 60 GW of renewable energy capacity by 2032. NTPC REL is also developing one UMREPP of 4.75 GW capacity in Rann of Kutch, Gujarat.

Notes:
Prime Minister Narendra Modi launched the Pradhan Mantri Formalisation of Micro food Processing Enterprises (PMFME) Scheme in 2020.
The scheme was launched under the ‘Aatmanirbhar Bharat Abhiyan’ and ‘Vocal for Local’ campaigns, to provide technical, financial and business support to micro food processing units in the country. The government intends to provide direct financial and technical assistance to about 200,000 micro food processing units under this scheme.

Notes:
According to the Hurun India Future Unicorn Index 2022, Bengaluru continues to be the start-up capital of India, with 46 probable Unicorns.
It is followed by Delhi NCR (25) and Mumbai (16). As per the index, India will have 122 new unicorns in the next two to four years.