CURRENT AFFAIRS

Detailed explanation-1: -The China International Peace Research Centre awarded the Confucius Peace Prize to Putin, citing as reason Putin’s opposition to NATO’s Libya bombing in 2011 while also paying tribute to his decision to go to war in Chechnya in 1999.

Detailed explanation-2: -During Putin’s first two terms as president, he signed into law a series of liberal economic reforms, such as the flat income tax of 13 percent, reduced profits-tax and new land and civil codes. Within this period, poverty in Russia reduced by more than half and real GDP has grown rapidly.

Detailed explanation-3: -First Presidential term (2000–2004) Vladimir Putin was inaugurated president on 7 May 2000. He appointed Minister of Finance Mikhail Kasyanov as his Prime minister.

Detailed explanation-4: -The president is elected directly through a popular vote to a six-year term. Previously, the Constitution established term limit for the presidency restricting the officeholder to serve no more than two terms.