Essential key terms from last week’s news are categorised as per the relevance of the UPSC-CSE syllabus.
Black Money Act
Syllabus-
Preliminary Examination: Current events of national and international importance.
Mains Examination: General Studies III: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.
Why in news?
— Alleging detection of undeclared offshore assets and investments, the Mumbai unit of the Income Tax Investigation Wing passed an order against Anil Ambani, Chairman of the Reliance (ADA) Group, under the Black Money Act, 2015.
What is Black Money Act?
— It is known as Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.
— This Act is applicable to all person resident in India. In the case of Individuals, it applies to an ordinary resident under ITA.
— It penalises the concealment of foreign income. Also it provides for criminal liability for attempting to evade tax in relation to foreign income.
— The concerned person had to pay tax at the rate of 30 per cent and an equal amount by way of penalty if found having undisclosed overseas wealth. In case of non-declaration, the provisions included slapping of tax at the rate of 30% along with a penalty equal to three times the amount of tax evaded or 90% of the undisclosed income or the value of the asset. Only bank account up to total balance of Rs 5 lac exempt.
— The Act provides for punishment of jail for 3-10 years for the willful evasion.
Point to ponder: Define- Offshore trusts, black money, tax havens, shell companies.
(source: prsindia.org)
Ethanol blending
Syllabus-
Prelims: Economic and Social Development – Sustainable Development, Poverty, Inclusion, Demographics, Social Sector initiatives, etc.
Mains: Government policies and interventions aimed at development in various sectors and issues arising out of their design and implementation.
Why in news?
— Speaking on world environment day, Prime Minister Narendra Modi said that India has achieved 10 per cent ethanol blending target in petrol months ahead of schedule.
Why Ethanol and Ethanol Blending?
— Ethanol is one of the principal biofuels, which is naturally produced by the fermentation of sugars by yeasts or via petrochemical processes such as ethylene hydration. The Government of India has advanced the target for 20 per cent ethanol blending in petrol (also called E20) to 2025 from 2030. Currently, 9.99 per cent of ethanol is blended with petrol in India.
— Increased use of ethanol can help reduce the oil import bill. India’s net oil import cost stands at $551 billion in 2020-21. The government’s ethanol-blending programme can save the country Rs 30,000 crore per annum.
— Ethanol blending provides incentives to farmers as the oil companies primarily procure ethanol from sugarcane farmers. The government’s plan is to encourage use of water-saving crops to produce ethanol. Use of ethanol-blended petrol decreases emissions such as carbon monoxide (CO), hydrocarbons (HC) and nitrogen oxides (NOx).
Point to ponder: Recently, the central government has released an expert committee report on the Roadmap for Ethanol Blending in India by 2025. What is the ‘roadmap’or recommendations according to the report?
LiFE
Syllabus:
Preliminary Examination: General issues on Environmental ecology, Bio-diversity and Climate Change – that do not require subject specialisation.
Mains Examination: General Studies III: Conservation, environmental pollution and degradation, environmental impact assessment.
Why in news?
— On the occasion of World Environment Day, Prime Minister Narendra Modi on Friday launched the ‘Lifestyle for the Environment (LiFE) Movement’, a global initiative, via video conferencing. According to a statement released by the Prime Minister’s Office (PMO), the campaign was launched with a “call for papers”, inviting ideas and suggestions from academics, universities, and research institutes for promoting an environmentally conscious lifestyle.
What is LiFE?
— The idea of LiFE promotes an environmentally conscious lifestyle that focuses on ‘mindful and deliberate utilization’ instead of ‘mindless and wasteful consumption. The idea of LiFE was introduced by the Prime Minister during the 26th United Nations Climate Change Conference of the Parties (COP26) in Glasgow last year.
— The LiFE Movement aims to bring positive change in the environment by collective action. It aims to persuade individuals across the world to undertake simple climate-friendly actions in their daily lives or adoption of environment-conscious lifestyle . Global leaders have applauded India for focusing on individual behaviour change towards Climate Change. It also seeks to make the best use of social networks to influence social norms surrounding climate.
— The Mission plans to create and nurture a global network of individuals, namely ‘Pro-Planet People’ (P3). P3 will have a shared commitment to adopt and promote environmentally friendly lifestyles. Through the P3 community, the Mission seeks to create an ecosystem that will reinforce and enable environmentally friendly behaviors to be self-sustainable.
— The Mission envisions replacing the prevalent ‘use-and-dispose’ economy with a circular economy. ‘Use and dispose’ economy is governed by mindless and destructive consumption whereas the circular economy is defined by mindful and deliberate utilization.
Point to ponder: What have been some of the major achievements of India, as highlighted by the Prime Minister on the occasion of World Environment Day?
Gait Test
Syllabus-
General Studies III: Science and Technology
Why in news?
— A Mumbai court relied upon the report of an analysis of a suspect’s gait in its order in the rape and murder of a Dalit woman in Saki Naka in September 2021. Such an analysis has been carried out earlier in the Sachin Waze-Antilia terror scare and the Gauri Lankesh murder investigations.
What is Gait ?
— Gait is defined as a manner of walking or moving on foot. Gait analysis is a technique in podiatry medical care and the treatment of the foot, which is used to evaluate and diagnose conditions that affect walking and posture.
— The analysis can help experts zero in on the source of an injury or pain that determines the way in which an individual stands or walks. It can also be used by physiotherapists for treatment, and in athletics training so that athletes can perform better and in greater comfort.
— Gait analysis techniques have now been borrowed by forensic sciences experts to identify suspects in criminal cases. With footage from CCTV cameras becoming a crucial element in fighting and preventing a range of crimes, especially in the cities, gait analysis has begun to be used as a tool for focusing on or eliminating individuals from a list of suspects.
Point to ponder: What are some popular scientific technologies and inventions which can be used in crime detection?
Gulf Cooperation Council
Syllabus-
Preliminary Examination: Current events of national and international importance.
Mains Examination: General Studies II: Bilateral, regional and global groupings and agreements involving India and/or affecting India’s Interests.
Why in news?
—The recent row over remarks on the prophet has brought this organization in limelight.
What is GCC?
— The GCC was formed in 1981 by an agreement among Saudi Arabia, Bahrain, Oman, Kuwait, Qatar and the United Arab Emirates (UAE), that was concluded in Riyadh, Saudi Arabia.
— It is an economic and political union comprising of all the Arab countries of the Persian Gulf except Iraq.
— Although its current official name is Cooperation Council for the Arab States of the Gulf, it is still popularly and unofficially known as the Gulf Cooperation Council, which is its former official name. The grouping was formed in view of the similar political establishments in the countries based on Islamic principles, their geographical proximity, joint destiny and common objectives.
—The six members of the GCC are Saudi Arabia (absolute monarchy), Qatar (constitutional monarchy), Oman (absolute monarchy), UAE (federal monarchy), Bahrain, and Kuwait (constitutional monarchies). The possible future members of GCC may be Yemen, Jordan, and Morocco. The GCC members are some of the fastest-growing economies of the world. It has a total GDP (nominal) of $1.638 trillion.
—The chief objectives of the GCC are to have integration, coordination, and interconnection between the member countries in all fields. It comprises of strengthening people-to-people ties, and formulating similar regulations in finance, economy, customs, trade, tourism, administration, and legislation. Fostering scientific and technical cooperation in the areas of agriculture, mining, industry, animal resources, and water. Having a unified military etc.
—The GCC aims of having a common market and economic nationality. There are also plans to have a single currency. Such a currency may be known as Khaleeji.
Point to ponder: Why are the Gulf countries important for India?
Jan Samarth Portal
Syllabus-
Preliminary Examination: Indian Polity and Governance
Mains Examination: General Studies II: Welfare schemes for vulnerable sections of the population by the Centre and States and the performance of these schemes.
Why in news?
– The Prime Minister launched Jan Samarth Portal on the ‘Iconic week celebrations’ of the Ministry of Corporate Affairs at Vigyan Bhavan, Delhi.
What is Jan Samarth Portal?
– According to Prime Minister’s Office, Jan Samarth Portal is a one-stop digital portal that links the government credit schemes. Beneficiaries can digitally check eligibility, apply online and receive digital approval. The portal is unique in the sense it is the first of its kind. It connects beneficiaries directly to the lenders. The idea behind launching this portal is to encourage inclusive growth and development of several sectors.This will be achieved by guiding them toward the appropriate government schemes and benefits through simple and easy digital processes.
– 13 schemes under 4 loan categories are linked to this portal. The 4 loan categories are- education, agricultural infrastructure, business activity and livelihood.
Point to ponder: What is the significance of Jan Samarth portal? Who all will be its beneficiaries?
Environmental Performance Index
Syllabus-
Preliminary Examination: Current events of national and international importance.
Mains Examination: General Studies III: Conservation, environmental pollution and degradation, environmental impact assessment
Why in news?
–India has questioned its bottom ranking among 180 nations on the Environmental Performance Index.
What is EPI?
– EPI is a biennial index that is a scorecard that ranks countries on their environmental performance.
– It was first published in 2002. The aim was to supplement the environmental targets of the United Nations Millennium Development Goals. Importantly it also provides guidance for countries that aim to move toward a sustainable environment in the future. Prepared by Yale University and Columbia University in collaboration with the World Economic Forum.
– The 2022 EPI is based on 40 performance indicators grouped into 11 issue categories. The three objectives of these categories are: Environmental Health, Ecosystem Vitality and Climate Change.
– India ranks 180th in the Environment Performance Index (EPI) 2020 (score: 18.9 ). It ranks below Pakistan, Bangladesh, Vietnam, and Myanmar. Importantly, India has also scored low on rule of law, control of corruption, and government effectiveness, according to EPI. India ranked 168th in 2020. Denmark tops the 2022 rankings. The United Kingdom and Finland secured 2nd and 3rd positions.
Point to ponder- What are the major objections of GOI on the Index?
Agneepath scheme
Syllabus-
Preliminary Examination: Current events of national and international importance
Mains Examination: General Studies II: Government policies and interventions for development in various sectors and issues arising out of their design and implementation.
Why in news?
– The government aims to recruit about 45,000-50,000 personnel below officer rank in the three services every year through a biannual exercise with a six-month gap. At the end of their tenure, 25 percent of these recruits will be inducted back into the services, although the modalities for this process are yet to be finalised.
What is Agneepath Scheme?
– Under the new Tour of Duty system, likely to be named “Agneepath”, soldiers or “Agniveer” will be recruited for a period of four years at the end of which they will get over Rs 10 lakh tax-free and certificates or diplomas for their service.
– Sources said that candidates between the ages of 17-and-a-half years and 21 years will be eligible to apply, and recruitment will be conducted under existing qualification criteria. The recruits will undergo training for six months and serve for the remaining period. Currently, a soldier serves for nearly 17-20 years.
– Under the new scheme, the starting salary will be Rs 30,000, which will go up to Rs 40,000 by the end of the fourth year. However, 30 percent of the salary will be held back as savings, and an equal amount contributed by the Government per month, under the Seva Nidhi scheme.
Point to ponder: How does “Agneepath” balances the generation of employment and security of the nation?
Repo rate and Reverse repo rate
Syllabus-
Preliminary Examination: Economic and Social Development
Mains Examination: General Studies III: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.
Why in news?
–The central bank has now raised the Repo rate by 90 basis points to 4.90 per cent in a matter of five weeks, with the hikes set to raise the lending rates in the banking system and impact the demand in the economy.
What are Repo rates and Reverse Repo rates?
–The interest rate that the RBI charges when commercial banks borrow money from it is called the repo rate. The interest rate that the RBI pays commercial banks when they park their excess cash with the central bank is called the reverse repo rate. Since RBI is also a bank and has to earn more than it pays, the repo rate is higher than the reverse repo rate. At present, the repo rate is 4.90%, and the reverse repo rate is 3.35%.
– Using these two rates, the RBI sets the tone for all other interest rates in the banking system, and through that route, in the broader economy. For instance, when the RBI wants to encourage economic activity in the economy, it reduces the repo rates. Doing this enables commercial banks such as the SBI to bring down the interest rates they charge (on their loans) as well as the interest rate they pay on deposits. This, in turn, incentivises people to spend money, because keeping their savings in the bank now pays back a little less, and businesses are incentivised to take new loans for new investments because new loans now cost a little less as well.
–It is for this reason that the repo and reverse repo rates are often referred to as the “benchmark” interest rates in the economy.
Point to ponder: What do you understand by Wholesale Price Index (WPI) and Consumer Price Index? WPI and CPI is published by whom?
Floodplains
Preliminary Examination: Indian and World Geography
Mains Examination: General Studies I: Distribution of key natural resources across the world (including South Asia and the Indian sub-continent); factors responsible for the location of primary, secondary, and tertiary sector industries in various parts of the world (including India).
Why in news?
–Around 15 farmhouses and structures built along the Yamuna floodplains in Noida’s Sector 135 were demolished Wednesday in the ongoing anti-encroachment drive by the Noida Authority.
What is a floodplain?
–A floodplain (or floodplain) is a generally flat area of land next to a river or stream. It stretches from the banks of the river to the outer edges of the valley. A floodplain consists of two parts. The first is the main channel of the river itself, called the floodway. Floodways can sometimes be seasonal, meaning the channel is dry for part of the year.
–The flood fringe extends from the outer banks of the floodway to the bluff lines of a river valley. Bluff lines, also called valley walls, mark the area where the valley floor begins to rise into bluffs.
–There are two major processes involved in the natural development of floodplains: erosion and aggradation. The erosion of a floodplain describes the process in which earth is worn away by the movement of a floodway. Aggradation (or alluviation) of a floodplain describes the process in which earthen material increases as the floodway deposits sediment. A river erodes a floodplain as it meanders, or curves from side to side.
(source: education.nationalgeographic.org)
Point to ponder- Define associated terms like Oxbow lakes, Fluvial terraces etc.
Fast radio burst
Syllabus:
Preliminary Examination: General Science
Mains Examination: General Studies III: Awareness in the fields of IT, Space, Computers, robotics, nano-technology, bio-technology and issues relating to intellectual property rights.
Why in news?
— Astronomers detected a signal from a galaxy believed to be nearly 3 billion light-years away called Fast Radio Burst (FRB).
What is Fast radio burst?
— Fast radio bursts are bright flashes of light that appear for a few milliseconds and then vanish. Since the first FRB was discovered in 2007, 140 more were discovered until June 2021, according to a post on the MIT website.
— The astronomers have suggested that there may be two different mechanisms producing FRBs, or that the objects producing them may act differently at different stages. Among the candidates for the sources of FRBs are the super dense neutron stars left over after a supernova, or magnetars (neutron stars with ultra-strong magnetic fields).
Point to ponder: What is supernova?
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Manas Srivastava<span class="il">Manas</span> writes and works on UPSC-related projec… read more
