How to see recently inserted terms in the site? I've many of my people tagging content in my site. I'd like to review all those newly entered terms of any vocabulary. Is there any easy way to do so? I understand there no author/date time entry when a new term is added.

I know one crude method. I can remember the tid from yesterday and display all terms greater than it if I want to see today's entry.
You could add a field to the term which saves the current date when saved. Use the hook_taxonomy_term_insert() for this. 

I think there is no other information on the term itself than the tid.