The Year of Faith officially began last October 11, 2012 and will last until November 24, 2014. The Holy Father Benedict XVI had written Porta Fidei a year ago in preparation for this. The Congregation for the Doctrine of the Faith has also released a Note with pastoral recommendations for the Year of Faith.
Just looking around me, I realize that there is a lot more to be done in this world regards with the faith. I have noticed that Catholics where I live are generally pious, but are not actually particular about receiving the sacraments, especially the Sacrament of Confession more frequently. There is a certain compartmentalization of one's life where in the message can be read as: "I am a Catholic inside this parish church", but elsewhere: "Earning as much as I can to the detriment of others remains supreme." Then there are those who say firmly: "I'm a Catholic who is a member of so-and-so organization/movement/charismatic group", and then will declare: "Well... ethics is relative!"
I guess this might be the effect of a lack of firm doctrinal formation, and the ability to live one's life true to the Catholic faith wherever one is. Catechesis seems to be reserved only for children, and the little that a lot of adult Catholics get is what they may-listen-to-if-they-chose-to during Sunday mass homily. There is so much to the Catholic faith that a lot of people are missing out on. As human beings, we can always improve in the knowledge of the faith the same way that we can always delve into another hobby or go into more specialized studies in our respective fields of interest.
I believe that one can only call oneself a faithful Catholic if one has made the effort to at least read through the Catechism of the Catholic Church and the Compendium of the Catechism of the Catholic Church. When better to start doing so than during the Year of  Faith?