Current Affairs Quiz - March, 2019

Notes:
The book titled “The Great Disappointment: How Narendra Modi Squandered a Unique Opportunity to Transform the Indian Economy” has been authored by economic and political commentator Salman Anees Soz. The book claims that Demonetisation was a terrible idea and the government’s own economic surveys have indicated that this move contributed to a slowdown in the economy. According to author, demonetisation was a self-goal by the Modi government. The book attempts to answer the overarching question of whether or not the Modi government transformed India’s economy and what the next government’s agenda should look like. The book is also a critical assessment of five years of the brand of economics Modi has championed, often referred to as ‘Modinomics’.

Notes:
The first-ever joint military exercise of Shanghai Cooperation Organization (SCO) titled “Sary Arka Antiterror 2019” is scheduled to be held in grasslands of Kazakhstan in the Sary Arka region. The decision to hold the joint exercise ‘Sary-Arka-Antiterror 2019’ was announced during the 34th meeting of the SCO’s Regional Anti-Terrorist Structure (RATS) council held in Tashkent, Uzbekistan. The SCO, in which China plays an influential role, is also comprised of Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Uzbekistan, India and Pakistan. India and Pakistan were admitted into the bloc in 2017. Delegations of the competent authorities of India, Kazakhstan, China, the Kyrgyz Republic, Pakistan, Russia, Tajikistan, Uzbekistan and the RATS Executive Committee attended the meeting. RATS is a permanent organ of the SCO which serves to promote cooperation of member states against the three evils of terrorism, separatism and extremism. It is headquartered in Tashkent. The next meeting of the Council of the RATS SCO is scheduled to be held in Russia in September 2019.

Notes:
The World Sparrow Day (WSD) is observed every year on 20th of March to protect these little birds and conserve their houses. The house sparrow is on the verge of extinction. The 2019 theme “I Love Sparrows” is inspired by hope that more and more will celebrate the relationship between People and Sparrows. The initiative was started by Nature Forever Society (NFS) of India, founded by Mohammed Dilawar, an Indian conservationist. He started his work helping the house sparrow in Nashik. He was also named one of the “Heroes of the Environment” for 2008 by Time for his efforts. The idea of marking WSD came up during an informal discussion at the NFS’s office. The idea was to earmark a day for the house sparrow to convey the message of conservation of the house sparrow and other common birds and also mark a day of celebration to appreciate the beauty of the common biodiversity which is taken so much for granted. The first WSD was celebrated in 2010 in different parts of the world. To encourage efforts made towards this cause and to selflessly conserve the environment, NFS has instituted the first Sparrow Awards in Ahmedabad, Gujarat, on 20 March 2011.

Notes:
The International Day of Happiness (IDH) is observed every year on 20th of March to recognise the importance of happiness in the lives of people around the world. The day is a good reminder that our world is changing. If we want to understand how we progress, why we sometimes fail & ultimately improve the quality of all our lives, then the pursuit of happiness may offer an answer. The 2019 theme “Happier Together” focuses on what we have in common, rather than what divides us. It is celebrated by all 193 UN Member States.

Notes:
Nursultan Nazarbayev, the longest-serving post-Soviet leader, has unexpectedly resigned as president of Kazakhstan after 29 years in power in a surprise public address on national television. But, he would remain the chairman of the country’s powerful security council, the leader of the Nur Otan party, which dominates parliament, and his official title as “The Leader of the Nation”. The move comes on the back of growing social discontent and an economy still recovering from an oil price plunge in 2014. Western sanctions against Russia, a key trading partner, have also hit the economy. Known as “Papa” to many Kazakhs, Nazarbayev has ruled the vast oil and gas-rich Central Asian nation since 1989, when it was still part of the Soviet Union. He has been Kazakhstan’s President since 1990 and was formally elected in 1991 after the fall of the Soviet Union. Kassym-Jomart Tokayev, speaker of the upper house of parliament, will take over as Kazakhstan’s acting president for the remainder of his term in line with the constitution.

Notes:
The World Water Day (WWD) is observed every year on 22nd March to tackle the global water crisis in households, schools, workplaces and farms. This day is also celebrated as a means of focusing attention on the importance of freshwater and advocating for the sustainable management of freshwater resources. an opportunity to learn more about water related issues, be inspired to tell others and take action to make a difference. Water is an essential building block of life. It is more than just essential to quench thirst or protect health; water is vital for creating jobs and supporting economic, social, and human development. The 2019 theme ‘Leaving no one behind’ is the central promise of the 2030 Agenda for Sustainable Development. The aim of Sustainable Development Goal 6 (SDG 6) is to ensure availability and sustainable management of water for all by 2030. By definition, this means leaving no one behind.

Notes:
In its latest Global Economic Outlook (GEO), Fitch Ratings has recently cut India’s economic growth forecast for the financial year FY20 starting April 1, to 6.8% from its previous estimate of 7%, on weaker than expected momentum in the economy. According to Fitch, the RBI has adopted a more dovish monetary policy stance and cut interest rates by 0.25 percentage at its February 2019 meeting, a move supported by steadily decelerating headline inflation. Fitch Ratings cut India’s FY19 GDP growth forecast to 7.2% from 7.8% on December 6. The rating agency has also cut growth forecasts for FY20 and FY21 to 7% from 7.3% and 7.1% from 7.3%, respectively.

Notes:
The International Day of Forests is observed every year on 21st of March to celebrate and raise awareness of the importance of all types of forests. It also seeks to highlight vital role played by forests in poverty eradication, environmental sustainability and food security. The 2019 theme is “Forests and Education”. This year, the International Day of Forests promotes education to Learn to Love Forests. It underscores the importance of education at all levels in achieving sustainable forest management and biodiversity conservation. Healthy forests mean healthy, resilient communities and prosperous economies.

Notes:
The International Day for the Elimination of Racial Discrimination is observed every year on 21st of March to redouble its efforts to eliminate all forms of racial discrimination. This day commemorates the lives that have been lost to fight for democracy and equal human rights in South Africa during the Apartheid regime (a regime which embraced racial discrimination). The 2019 theme is “Mitigating and countering rising nationalist populism and extreme supremacist ideologies”. The United Nations General Assembly (UNGA) has also reiterated that all human beings are born free and equal in dignity and rights and have the potential to contribute constructively to the development and well-being of their societies.

Notes:
The Financial Technology (Fintech) Conclave has been organized by NITI Aayog in New Delhi and was inaugurated by Reserve Bank of India (RBI) Governor Shaktikanta Das. The objective of the conclave is to shape India’s continued ascendancy in FinTech, build the narrative for future strategy and policy efforts, and to deliberate steps for comprehensive financial inclusion. Nearly 300 Representatives from across the financial space – central ministries, regulators, bankers, startups, service providers and entrepreneurs are participating in the conclave. India is one of the fastest growing FinTech markets globally and industry research has projected that USD 1 Trillion or 60% of retail and SME credit, will be digitally disbursed by 2029. The Indian FinTech ecosystem is the third largest in the globe, attracting nearly USD 6 billion in investments since 2014.