Current Affairs Quiz - May, 2020

Notes:
The Union Defence Ministry has signed a contract with Mumbai based power company Tata Power for infrastructure modernisation of 37 airfields.
The airfields of the Indian Air Force, Coast Guard and the Navy are to be modernised at a cost of around Rs 1,200 crore. This is the second phase of the Modernisation of Airfield Infrastructure (MAFI) programme while during the first phase the airfields of the Indian Air Force were upgraded. This project would facilitate the operations of aircrafts in poor weather conditions.

Notes:
China recently won the inaugural $180,000 FIDE Chess.com Online Nations Cup, whereas India settled in the fifth place.
On the basis of highest points in the round-robin stage, China was declared the winner as it drew 2-2 against USA, which bagged the second position. China won 48,000, USA 36,000 and others received $24,000 each. Representing India, Humpy won Olga Girya and P. Harikrishna drew with Sergey Karjakin.

Notes:
The social security scheme of Government of India ‘Atal Pension Yojana’ (APY) has completed five years of successful implementation. The scheme has witnessed 2.23 Crore enrolments since its launch.
It was launched in the year 2015 by the Indian Prime Minister to deliver a minimum guaranteed pension to workers in unorganised sector. The Pension Fund Regulatory and Development Authority (PFRDA) administers the scheme.

Notes:
The Index of Industrial Production (IIP) is an index published by the Central Statistical Organisation (CSO), MoSPI every month. It shows the growth rate of industry groups in the economy such as manufacturing and electricity.
Recently, the IIP of March recorded a sharp decline of 16.7 per cent to 120.1 in the month of March. The data also showed that the industrial growth during the fiscal year 2019-20 slipped 0.7 per cent, against the 3.8 per cent rise in 2018-19.

Notes:
The FIFA U-17 Women’s World Cup was originally scheduled to be held in India from November 2-21 in 2020 and was subsequently postponed due to the pandemic.
Recently, FIFA announced that the World Cup tournament has been rescheduled to February 17-March 7, 2021. It was originally planned to be held across five host cities of India namely – Navi Mumbai, Guwahati, Ahmedabad, Kolkata and Bhubaneswar. The original eligibility criteria of the players will be followed.

Notes:
The Sports Authority of India (SAI) has formed a six-member committee to prepare a Standard Operating Procedure (SOP) for resuming the training of sportspersons across several disciplines, after the lock-down would be lifted.
The Secretary of Sports Authority of India (SAI) Rohit Bharadwaj will head the panel. It will also include preventive measures to be observed by all stakeholders, including trainees, coaches and staff. The recommendations will be sent to the Sports Ministry for approval.

Notes:
Union Finance Minister Nirmala Sitharaman recently proposed Rs 50,000 crore of liquidity by reducing the TDS and TCS rates for certain payments including interest, dividend, rent payments and other payments by non-individuals.
The rates of Tax Deduction at Source (TDS) for non-salaried payments made to residents and rates of Tax Collection at Source (TCS) for receipts will be reduced by 25 per cent of the existing rates. This reduction in rates will be effective from 14.05.2020 to 31.03.2021.

Notes:
As a part of the economic stimulus package, the Government has revised the definition of Micro, Small and Medium Enterprises (MSMEs). The revised guidelines introduced a new criterion called ‘Annual turnover’.
For micro enterprises, the classification covers up to Rs 1 crore in investment and Rs 5 crore in turnover. Earlier, it was investment of 25 lakh in manufacturing and 10 lakh in services. 10 Crore investment and 50 Crore turnover is the criteria for Small enterprises and 20 Crore investment and 100 Crore turnover is the criteria for Medium enterprises.

Notes:
The Chief Minister of Maharashtra Uddhav Thackeray and eight other candidates were recently declared to be elected unopposed to the State Legislative Council.
Uddhav Thackeray, who was sworn in as the Chief Minister on November 28 last year, required to become a member of either Houses of the state legislature before May 27, 2020. The eight other candidates also include Council Deputy Chairperson Dr Neelam Gorhe among others. They would be officially sworn-in after the official notification is released.

Notes:
Union Defence Minister Rajnath Singh digitally commissioned a ship and two interceptor boats of the Indian Coast Guard (ICG) in Goa.
Indigenously built Indian Coast Guard Ship ‘Sachet’ is the first in the series of five offshore patrol vessels, that has been designed and built by Goa Shipyard Ltd (GSL). The interceptor boats C-450 and C- 451 are indigenously designed and built by L&T Shipyard, Hazira (Gujarat). The Indian Coast Guard has reached a landmark of 150 ships and boats and 62 aircraft.