feat(CI/CD):Implement Code cov for local system using makefile

[lsampras]

Context
As any other codebase, unit tests are vital to maintain stability & correctness of code..
Currently while the project has some amount of tests, We still don't have a code coverage tracking in place which robs people of some of the incentives for adding tests.
We should aim to add code coverage checks on PR's to add the necessary incentives in place

Objectives
We need unit test runs + code coverage summaries on PR's to get an idea about the diff in code coverage caused by the PR...

For local development people often have their own ways to run & test code locally...
However we would also like to provide a standardized approach via Makefile that has to be consistent with the report generated via CI...

locally we prefer to have an lcov based diff generated due to integrations with vscode etc..

Any temporary files generated due to code coverage locally shouldn't be tracked & should be auto-ignored via the .gitignore file (you can update the .gitignore file to do so)

Cargo tests supports code coverage via builtin cargo test.
Our objective is to generate reports via lcov.

[Karandeep09]

Hey @lsampras, I would like to pick this?