Current Affairs Quiz - June, 2020

Notes:
As per the data from the Controller General of Accounts (CGA), India’s fiscal deficit was 4.59% of gross domestic product (GDP) for the year 2019-20. Fiscal Deficit is the gap between the government’s revenue and expenditure
The government’s revised target for its fiscal deficit was 3.8%, and the real deficit has exceeded it. However, the budget estimate was 3.5% of GDP. The Union Finance Minister invoked the escape clause in the Fiscal Responsibility and Budget Management Act to peg the deficit 0.5% higher than the Budget estimate.

Notes:
The Banks Board Bureau (BBB) has recently recommended the appointment for the top-level position of three public sector banks.
The BBB recommended the appointment of Ashwani Bhatia as the next Managing Director of State Bank of India. Ashwani Bhatia is currently the Deputy Managing Director in SBI. The Board also recommended the appointment of Matam Venkat Rao as the MD & CEO of Central Bank of India and PP Sengupta as the MD & CEO of Indian Overseas Bank.

Notes:
The Union Government has launched a national programme for the youth, called “Responsible AI for Youth”. It has been developed by the Ministry of Electronics and IT in collaboration with Intel India, with support from Department of School Education and Literacy (DoSE&L). It aims to equip young students with new generation technology.
A dedicated portal for Artificial Intelligence, which will be a platform for all AI related developments in India, was also launched to mark the first anniversary of the second tenure of the government. It has been jointly developed by the Ministry of Electronics and IT and NASSCOM.

Notes:
Union Ministry of Chemicals and Fertilizers implements the Pradhan Mantri Bhartiya Janaushadhi Pariyojna (PMBJP) scheme through the network of Pradhan Mantri Bhartiya Janaushadhi Kendras (PMBJKs).
The scheme aims to make quality medicines available at affordable prices to all and reduce out of pocket expenses for healthcare. The scheme was seen in news recently, as it achieved sales of Rs. 100.4 Crores in the first two months of 2020-21. During March, April & May 2020, the Kendras have sold Rs. 144 Crores worth affordable medicines.

Notes:
The Commission for Agricultural Costs & Prices (CACP) is an attached office of the Ministry of Agriculture and Farmers Welfare. Based on the recommendation of CACP, the Union Cabinet fixes the minimum support price (MSP).
Recently, the government raised the minimum support price (MSP) of paddy marginally by Rs 53 per quintal to Rs 1,868 per quintal for the 2020-21 crop year. It also hiked the rates for oilseeds, pulses cereals and commercial crops. This is expected to give 50-83 per cent higher return over the cost of production to farmers.

Notes:
Famous music composer Wajid Khan recently passed away at the age of 42. He was a part of the popular music duo Sajid-Wajid.
The pair started their musical career in the year 1998 for a Hindi movie starring Salman Khan. Sajid-Wajid scored music for many films of the star including his latest single, ‘Bhai Bhai’. The pair has been popular for their composition of IPL 4 theme song.

Notes:
The Expert Committees on Rationalisation/Closure/Merger of Film Media Units and the committee on Review of Autonomous Bodies under the aegis of Ministry of Information and Broadcasting submitted their report to the Union I&B Minister Prakash Javadekar.
The committees were headed by Bimal Julka with an objective of rationalisation and professionalisation of institutes related to film activities. The committee recommended specific roadmaps for the development of institutes including National Film Development Corporation, Films division, Children’s Film Society of India among others.

Notes:
During his first ever virtual bilateral summit with the Australian head, the Prime Minister of India Narendra Modi signed a landmark agreement related to defence.
The agreement named ‘Mutual Logistics Support Agreement (MLSA)’ will allow the militaries of the two countries to use the bases of each other countries, for the purpose of repair and replenishment of supplies. India has already signed similar agreements with the US, France and Singapore. The countries also decided to re-engage on a Comprehensive Economic Cooperation Agreement (CECA).

Notes:
The legislature of Hong Kong has recently approved a bill that makes it illegal to insult the Chinese national anthem.
In Hong Kong, the pro-democracy camp sees the anthem bill as an infringement of freedom of expression whereas the pro-Beijing majority said the law was necessary to show appropriate respect for the anthem. If one intentionally abuses the “March of the Volunteers” anthem, he might face up to three years in prison and a fine of up to 50,000 Hong Kong dollars.

Notes:
The Executive Chairperson of Biocon, Kiran Mazumdar-Shaw has been named EY World Entrepreneur of The Year 2020.
The Bio-tech leader has been selected for her contribution in improving universal access to affordable life-saving medicines. She also became the third Indian to win the prestigious award after Narayana Murthy of Infosys and Uday Kotak of Kotak Mahindra Bank. She is also the second woman to hold the global title in the world.