Daily Current Affairs Quiz 17 April 2022

c) Ukraine

The Russian Black Sea Fleet ‘Moskva’ sank off the coast of Odessa after a missile strike on the ship. Russians claimed that an onboard ammunition fire caused the blasts on the ship, while the Ukrainians stated that it was a planned strike using the Neptune anti-ship cruise missiles.
The Neptune Missile system was inducted into the Ukrainian Forces in 2021, after Russian threat to the coastal areas of Ukraine was growing rapidly since occupation of Crimea in 2014. Neptune is a coastal anti-ship cruise missile which is capable of destruction of naval vessels in a range of 300 km.

c) Approval of new or unlicensed vaccines

Covovax is produced by the Serum Institute of India under license from Novovax, a US based biotechnology company. The vaccine has been approved by the World Health Organization(WHO) under its Emergency Use Listing.

d) Relationship between the changes in government’s tax revenue growth and the changes in GDP.

There is a strong connection between the government’s tax revenue earnings and economic growth. The simple fact is that as the economy achieves faster growth, the tax revenue of the government also goes up.

Tax buoyancy explains this relationship between the changes in government’s tax revenue growth and the changes in GDP. It refers to the responsiveness of tax revenue growth to changes in GDP. When a tax is buoyant, its revenue increases without increasing the tax rate.

d) 1, 2, 3

Using the money bill route to bypass the Rajya Sabha, the government introduced regressive amendments to laws, including the Income Tax Act of 1961, the Companies Act of 2013, and the Representation of the People Act of 1951, to introduce electoral bonds.

c) Russia

Eastern Economic Forum is an international forum held each year in Vladivostok, Russia, for the purpose of encouraging foreign investment in the Russian Far East.