Current Affairs 01 February 2022

CONTENTS

1. Cross border insolvency: UN model UNCITRAL
2. What the Economic Survey says
3. Fortified rice
4. Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) scheme

 Cross border insolvency: UN model UNCITRAL

Context:

The Economic Survey 2021-22 has called for a standardised framework for cross-border insolvency as the Insolvency and Bankruptcy Code (IBC) at present does not have an instrument to restructure firms involving cross-border jurisdictions.

Relevance:

GS-II: International Relations

Dimensions of the Article:

1. What are Cross border insolvency proceedings?
2. About UNCITRAL
3. The UNCITRAL model
4. Indian framework’s difference with the model law

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What the Economic Survey says

Context

Putting the spotlight on the way forward after the pandemic, the Economic Survey of 2021-22  has analysed aspects such as inflation, global liquidity measures, and rising energy prices to detail the risks for the economy going ahead.

• It has also taken stock of growing revenues to indicate the availability of fiscal space, should the government see the need to provide additional support.

Relevance:

GS III- Indian Economy

Dimensions of the article:

1. Fiscal space
2. Vaccine economics
3. Inflation pressures
4. Global uncertainty
5. Energy risks
6. Supply side reforms
7. Industrial growth
8. Public spending
9. Way forward

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Fortified rice

Context:

The Centre has distributed 3.38 lakh metric tonnes of fortified rice till December 2021 through anganwadis and mid-day meal schemes at government schools, according to the Economic Survey.

Relevance:

GS III- Indian Economy, Public distribution system

Dimensions of the article:

1. Key Points
2. About Food Fortification
3. Need for Food Fortification
4. About Fortification of Rice

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Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) scheme

Context:

Demand for work under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) scheme has dropped from the peak of the first lockdown, but is still higher than pre-COVID levels, the Department of Economic Affairs said in its annual Economic Survey.

Relevance:

GS-II: Social Justice and Governance (Health and Poverty related issues, Government Interventions and Policies, Issues arising out of the design and implementation of Government Policies)

Dimensions of the Article:

1. Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA)
2. How MGNREGA came to be?
3. Features of MGNREGA
4. Objectives of MGNREGA

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