Current Affairs Quiz - May, 2020

Notes:
Mumbai based think tank, the Centre for Monitoring Indian Economy (CMIE) has recently released its report on unemployment rates of the country in various parts.
As per the report, unemployment rate of India has risen to 27.11% for the week ended May 3, against 7% in the month of March. The monthly unemployment rate is 23.52% in April. It also highlighted that the unemployment rate was the highest in urban areas and the lowest in hilly areas.

Notes:
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002, allow banks and financial institutions to auction properties, when borrowers fail to repay their loans.
Recently as per the judgement of the Supreme Court, the cooperative banks that are involved in the banking activities are considered as a ‘banking company’. Hence the SARFAESI act may be modified to include the procedure of loan recovery by cooperative banks.

Notes:
‘Long March 5B’ is the flagship launch vehicle of China and it is a variant of the standard Long March 5 rocket, which had its inaugural flight in 2016.
It was seen in news recently, as the rocket launched a prototype crewed spacecraft from the Hainan island. This new-generation spacecraft entered its predetermined orbit 488 seconds after the launch. This success is expected to let China proceed with a mission to send an orbiter and rover to Mars.

Notes:
In a recent move, the Centre hiked the duties on petrol and diesel steeply and raised it to Rs 10 and Rs 13 per litre, respectively. It was also announced that there will be no change in the retail prices as the hike will be absorbed by the Oil Marketing companies.
Among the total hike, the Road and infrastructure cess will go the revenue of the Centre only whereas the special additional excise duty will be passed on to all states through devolution at 42%. This decision has been taken at the backdrop of falling crude oil prices in the global market and lower demand during the lock-down.

Notes:
The new Prime Minister of Iraq, Mustafa al-Kadhimi assumed office after the country’s parliament approved a new government. The parliament also approved 15 ministers in a vote of confidence and seven ministries including Foreign affairs and Oil were left empty.
There has been political crisis for more than six months in the country. The two previous nominees for the role of prime minister, Mohammed Tawfiq Allawi and Adnan al-Zurfi failed to secure the required support from cabinet ministers.

Notes:
United States Special envoy and Special Representative for Afghanistan reconciliation Zalmay Khalilzad recently visited India as a part of his three-nation tour including Qatar and Pakistan.
This is the first high-level foreign dignitary to travel to New Delhi since Covid-19-related travel restrictions came into effect. He met with External Affairs Minister S. Jaishankar and National Security Adviser Ajit Doval. While providing details of peace & reconciliation efforts of the U.S. in Afghanistan, he also said that US recognises India’s contribution to Afghanistan.

Notes:
The richest online chess tournament in history held so far was recently organised by the World Chess champion Magnus Carlsen after live tournaments could not be held amidst the Covid-19 crisis.
Named the Magnus Carlsen Invitational, the 16-day contest comprised of a total prize fund of $250,000. Magnus Carlsen won the final match and bagged the winner prize of $70,000 after defeating his American counterpart Hikaru Nakamura 2.5:1.5. Live feeds were offered during the matches with live commentary from chess grandmasters.

Notes:
Union Defence Minister Rajnath Singh recently inaugurated the strategically important Ghatiabagar-Lipulekh motor road.
The road connects the last Indian post on the Indo-China border in Uttarakhand’s Vyas valley. The construction of the road commenced in 2008 and was scheduled to be completed in 2013, but it was delayed due to the tough terrain. The Kailash-Mansarovar Yatra from Lipulekh pass is more convenient for pilgrims, after the road has been commissioned.

Notes:
The government has recently raised its gross market borrowing target for the current financial year to Rs 12 lakh crore.
As per the latest budget estimate, the target was Rs 7.8 lakh crore for the current fiscal year. The increase in the target accounts for more than 50% increase from the estimate. The decision has been taken at the backdrop of the Covid-19 outbreak that has crippled the economy. Lower tax collections and the fiscal stimulus required are the reasons for the increased borrowing.

Notes:
According to the data released by the Registrar General of India in its Sample Registration System (SRS) bulletin based on data collected for 2018, the infant mortality rate was found to be 32 per thousand of the population. The national birth rate and death rate stood at 20 and 6.2 respectively.
Madhya Pradesh has worst infant mortality rate in the country with 48 per thousand while Nagaland has the best IMR (4). Bihar continues to top the birth rate list with Andaman and Nicobar Islands at the bottom. Chhattisgarh has the highest death rate, while Delhi has the lowest.