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Daily Prelims CA Quiz

UPSC Quiz- 2017 : IASbaba's Daily Current Affairs Quiz [Day 61]

UPSC Quiz- 2017 : IASbaba's Daily Current Affairs Quiz [Day 61] Archives Q.1) Consider the following statements about the recently discovered compound called BTSA1 It directly drives cancer cells to commit suicide while sparing healthy cells. It combats cancer by triggering Necrosis Select the correct statements 1 Only 2 Only Both 1 and 2 Neither 1 nor 2 Q.2) Quasi-Zenith is a regional terrestrial positioning network system launched by Russia Japan US Israel Q.3) Which of the following statements is/are correct? India has the fourth largest installed wind power capacity in the world. Maharashtra is the leader in Wind Power in India Both (a) and (b) Neither (a) nor (b) Q.4) Mitra Shakti is a joint military exercise between India and Sri Lanka Nepal France Russia Q.5) Consider the following statements SANKALP is a centrally sponsored scheme, including loan support from World Bank to provide market relevant training to 3.5 crore youth. STRIVE is a Rs 2,200-crore central sector scheme focused on improving the quality and market relevance of vocational training provided in ITIs and strengthen the apprenticeship programmes through industry cluster approach. Select the correct statements 1 Only 2 Only Both 1 and 2 Neither 1 nor 2 To Download the Solution - Click here All The Best  IASbaba

AIR

All India Radio (AIR) : Structural Reforms in Taxation System

Structural Reforms in Taxation System ARCHIVES Search 3rd July 2017 http://www.newsonair.com/Main_Audio_Bulletins_Search.aspx TOPIC: General Studies 2 Government policies and interventions for development in various sectors and issues arising out of their design and implementation. GST is going to be a game changer for India. Given that present taxation structure is such a complex tax system with tax registration, tax reform, and unprecedented in its scope and width and depth, complaints have not been much been able to solve in an easy manner. There were many taxes and due to this, people were not ready to come into the network of indirect tax as well as direct tax. Out of 125 crore people, only 85 lakh people were registered into excise and VAT. But more number of people are doing business. When GST would be subsuming all the tax, then those persons who were hesitant to pay tax will also come in. GST is now a law and all the stakeholders of B2B will have to comply with it. They have to understand that money is not going from their pocket, it is consumer who will be paying for it. And hence, it is necessary to pass on the benefits to the consumer. Three specific areas which saw resistance in GST application are: Entertainment Textile Farm commodities Tamil Nadu is resisting because the state government is charging their own entertainment tax. So the residents are being taxed twice and hence they are opposing GST. The textile merchants and manufacturers were not taxed earlier, hence there is going to be a tax now under GST. The fact is despite higher GST or higher rate of tax on items not previously taxed, these producers and merchants will get input credit which they will can set off against tax they are paying. Regarding the agricultural items- the farmers are not taxed, only when it is converted into saleable items the taxes are being levied. So the tax is now more on branded goods which are packed and sold under a brand name whereas the loose grains are not taxed. Higher level of tax will be in telecom services, mobile bills, internet etc. from 15% to 18%. There will be some tax on financial services including insurance premium and possibly ATM transactions but no one does that many ATM transactions so that’s a negligible issue. The service tax rates have been increased so there will be some impact. But slowly when they’ll get the input for their services and goods, so they would pass on the benefit. This will be reviewed in later stages where the compliance is more. These rates are not final. After certain time, these rates may go down upon compliances, hence professionals request the businessmen to comply more for their benefit as well as their consumers. Taxes for economic development The government is the trustee. It’s the economy which runs from taxpayers’ money. If taxes are paid diligently, the systems in place will become better. If no money is paid, everybody will suffer. It is basic to know that infrastructure, education, health and sanitation, employment creation requires money. The main comprehension with business community and service community is the over compliance. Initially it would seem that there would be lots of compliances, but once they go through it, they would find it easy as most compliances will be done online. The chief economic advisor said that GST might add 2% to the GDP. The number of traders registered is expected to increase twice. So there should be revenue growth. Most of the trait which were not regulated earlier would come into regulation and there would be complete audit trail. If it is implemented with good intent by government, proper checks are done then it would be grand success. The moment the implementation sees weakness regarding the movement of goods, the main thing would be that. Earlier, the goods were moved without paying taxes. So that was link where people were taking maximum benefits of tax evasion. Inspector raj will become less as it will be done online, the tax will not be paid on borders of states, the taxes can be paid beforehand and claim input tax credit and have seamless journey all through India.   Picture credit: http://www.livemint.com/r/LiveMint/Period1/2014/07/04/Photos/w_reforms.jpg Challenges to implementation The infrastructure related to IT, availability of bandwidth should be available throughout the country. There should not be any glitches. But some parts of India are experiencing bandwidth issue and digital connectivity is not present. This would be big challenge of government for which it should work extra hard to bring infrastructure into place ready for all electronics transfer, payment and transaction. Many investors from abroad are eyeing India as a fastest growing market but they have been wary of committing too many funds here because India has strong labour laws which prevent money and investment from exiting from India. It is difficult to wind up industry. No hire and fire laws. If they are, then they are in favour of workers Sometimes tax structures are very inflexible – tax on Vodafone retrospectively. This has been taken care of that there shall be no such similar retrospective penalties. Time being taken to have the registration to start a business is lot. This backfires sometimes. Thus there has to be ease of doing business Direct tax impact GST would have impact on direct tax also as most of the people who are not into indirect tax they don’t have their direct taxes also. As their audit trail, sale purchase is there, there would have to have filing of ITR also. The structural change in direct tax will have a long bearing. Currently the people are hesitant to pay flat rate of 30%. If that is brought down, there is high chance of increase in tax payers. Possibly a relook at the reform of entire income tax structure is what government is trying to do. During demonetisation, a special taxation amendment was brought in. it included opprotunities to people with black money to come clean by paying minimum penalties and revealing their unaccounted wealth. More than 1 lakh companies are outside the purview of tax currently which are being brought into the system. More than 1 lakh companies have been struck off from registrar of companies post demonetisation. Thus, it is beneficial to comply whatever compliance is required by the regulators. Non-compliance will attract relevant penalties. Conclusion Till now, paying taxes voluntarily was not considered a smart thing to do and tax evasion was a normal way of conducting business. Economic greatness of a country cannot be built on such weak moral foundations and unethical business practices. With the indirect tax reforms, the focus will be now on constantly monitoring the implementation of reforms and simultaneously amending when necessary to facilitate ease of taxation. Along with it, there is need to introduce direct tax reforms which will complement the indirect tax reforms. Connecting the dots: Structural reforms in taxation require cautioned approach. Do you agree? Explain the need of reforms with mention of recommendations by few committees.

IASbaba’s Daily Current Affairs 11th Oct, 2017

IASbaba’s Daily Current Affairs – 11th Oct 2017 Archives NATIONAL TOPIC: General Studies 2: Parliament and State Legislatures ‐ structure, functioning, conduct of business, powers & privileges and issues arising out of these. Strengthening departmentally related standing committees(DRSCs) Background: A democracy derives its legitimacy by functioning through its elected institutions. Parliament plays a central role in our democracy by performing several important functions. Both Lok Sabha and the Rajya Sabha scrutinise the work of the Government through several procedures. Both have a role in making laws as well as the the power to amend the Constitution. However, only Lok Sabha needs to approve any expenditure of the Government or a tax proposal. The Houses typically meet for about 70 days a year to conduct their business. Beyond the visible work in the two Houses, a substantial part of the work is carried out by committees. Parliament has recently reconstituted the departmentally related standing committees (DRSCs), which perform three important functions: examine Bills referred to them; select specific topics related to the ministries and examine implementation by the Government; and examine the budgetary outlays of the departments. Their performance affects the overall effectiveness of Parliament as an institution that makes laws, holds the Government accountable, and gives sanction for public spending. Objectives of DRSCs: These committees fulfil several objectives. They help Parliament manage its business better. It is easier to examine a topic in depth by a committee of 30 than by an assembly of 700. They enable input from experts and those who may be directly affected by a policy or legislation. For example, the DRSCs often invite comments from the public and call people to testify. Being outside direct public glare allows members to discuss issues and reach consensus without worrying about constituency pressures. An advantage in the Indian context is that the anti-defection law does not apply to committees — therefore, decisions are not usually made on party lines. These committees allow members to focus on some specific areas and build their expertise, which helps them scrutinise issues more thoroughly. Brief: The DRSCs were formed in 1993; prior to that, there was no systematic process to examine Bills, and select committees were formed from time to time for some important Bills. Other issues and budgetary demands were not examined in committees. Each DRSC focusses on a set of ministries and, therefore, helps its members build sector knowledge. Currently, there are 24 DRSCs such as the Committee on Finance or the Committee on Transport, Tourism and Culture. Each has 21 members from Lok Sabha and ten from Rajya Sabha. Issues with DRSCs: All Bills are not referred to committees. Whereas during the period of the last two parliaments, 60 percent and 71 percent of all Bills were referred to committees, just 27 percent of Bills introduced in the current Parliament have been so referred. Though rules mention that the Speaker of Lok Sabha or Chairman of Rajya Sabha refers the Bill, this is usually done on the recommendation of the relevant minister. The current government is in a minority in that House, and Rajya Sabha has, in a number of instances, formed a select committee to examine a Bill that has been passed by Lok Sabha. Even a Bill as important as the Constitution Amendment to enable the GST was passed by Lok Sabha without reference to the DRSC; Rajya Sabha formed a Select Committee and several of its recommendations were incorporated into the Bill that was passed. The recommendation of committees is not binding. It is for the Government or any other member to move the relevant amendments, which may then be voted upon by the House. The idea is, committees are a small part of Parliament which make recommendations, and the full House has the authority and responsibility to make the final decision. One major weakness of these committees is the lack of standing research support. They are backed by the general support staff of Parliament and do not have a dedicated set of researchers associated with them. While they can (and often do) reach out to outside experts, there is no internal expertise. A related issue is the high churn in parliamentary membership. In each of the last three Lok Sabhas, over 50 per cent of the members elected were first time MPs. As several of the experienced members become ministers, only a small pool of MPs gain subject knowledge by being in a committee for long. The DRSC usually invites experts while scrutinising Bills. However, this is not always the case, even for Bills with wide ramifications. Issue of transparency of the work of committees. All committees meet behind closed doors and only the final report is published, with summary minutes. There have been arguments that the meetings should be televised or at least the full transcripts be published. The counter-argument is committees work as discussion forums and often reach consensus, as there is no pressure on members to posture for their support base. This would be lost if detailed proceedings were made public. A middle path would be to publish the submissions and evidence given by various experts and members of the public so that any advocacy is made more transparent while keeping the members free from constituency pressures. Conclusion: In sum, The DRSC system has been a fairly successful experiment. It is important to further strengthen its ability for detailed scrutiny of issues so that it helps parliament work better in its lawmaking and accountability roles. These would include mandatory examination of all Bills, creating research teams, and improving the transparency of input from advocacy groups. Many MPs call these committees “mini-parliaments” and strengthening their working will improve Parliament’s overall effectiveness. Connecting the dots: The departmentally related standing committees are rightly called as “mini-parliaments”. Strengthening their working will improve Parliament’s overall effectiveness. Analyze. Also discuss ways to strengthen these committees. INTERNATIONAL TOPIC: General Studies 2: India and its neighborhood‐ relations Effect of policies and politics of developed and developing countries on India’s interests Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests. Promoting deep sea fishing in the Palk Bay In news: The government is trying to promote deep sea fishing as an alternative to trawling in the Palk Bay. Proponents of deep sea fishing argue that the lure of better catch in far-off seas and avoiding the risks of cross-border fishing in Sri Lankan waters will ensure its success. Background: Deep sea fishing has always been an integral part of the country’s Blue Revolution vision to exploit fishing resources to the maximum within the 200 nautical mile exclusive economic zone (EEZ). The present plan in the Palk Bay is to extract 2,000 trawlers from the bay and replace them with deep sea vessels that fish in the Bay of Bengal and Gulf of Mannar. The time period for this transition is three years (2017-2020), with 500 boats to be replaced in the first year alone. The Central and Tamil Nadu governments have committed Rs. 800 crore and Rs. 320 crore, respectively, to the plan. Each vessel will be fitted for tuna long-lining and/or gillnetting, and have a unit cost of Rs. 80 lakh. Of this unit cost, trawl owners have to only pay Rs. 8 lakh upfront and Rs. 16 lakh through a loan from the Pandyan Grama Bank. The balance Rs. 56 lakh will be a subsidy shared by the State and Central governments. Solving the Palk Bay fishing conflict: The Sri Lankan government has not only passed a legislation banning trawling but its navy has also been vigilantly patrolling the International Maritime Boundary Line, ‘capturing’ Indian trawl boats and fishers. The plan is to remove as many trawl vessels from the Palk Bay as possible. Prospective beneficiaries of the deep see fishing project should possess a registered, seaworthy trawl vessel of over 12m in length that must be scrapped or disposed of outside the Palk Bay. The disposed vessel should also have been physically verified. The government is now creating a new deep sea fishing harbour at Mookaiyur, located just south of the Palk Bay in the Gulf of Mannar, where many of these vessels are likely to be berthed. Priority is to be given to owners who have had their boats apprehended or damaged in Sri Lanka. Beneficiaries are not allowed to sell their boats within five years of obtaining them. Issues with the plan: There should be sufficient stocks of fish in the adjacent waters of the Bay of Bengal and Gulf of Mannar to make deep sea fishing economically viable for a large and new fleet of vessels. The Indian government report of the Working Group for Revalidating the Potential of Fishery Resources in the Indian EEZ suggests that oceanic regions have a maximum potential yield of 208,000 tonnes. Importantly, however, while the report highlights that oceanic stocks are not fully exploited, it does not state where the remaining oceanic stocks in the Indian Ocean exist nor whether this might be in the Bay of Bengal or the Gulf of Mannar. Moreover, the report warns that oceanic resources are transboundary and hence are targeted by a number of other countries too. Palk Bay trawl fishers, who are used to one-day fishing do not have sufficient skills and an interest for deep sea fishing. In fairness, the authorities have taken note of training needs and are setting up special facilities in collaboration with the TNFU and the Central Institute of Fisheries Nautical and Engineering Training. Applicant trawl owners also expect to employ a few specialised workers from the operational deep sea fishing fleet of Thoothoor, at least for the initial period of operation. The question of what will become of trawl crews remains largely unaddressed, potentially jeopardising the local economy of the region. For trawl fishers, the main concern is whether deep sea fishing is a sound investment or not. Some fishermen have expressed doubts about the high operational costs of deep sea fishing and the loan repayment schedule imposed by the Pandyan Grama Bank. Monitoring is important Whether deep sea fishing will reduce the Palk Bay fishing conflict depends entirely on the downsizing of the existing trawl fleet. On paper, the necessary safeguards are in place. But rules are not always followed. The government will have to ensure that remaining vessels are not upgraded in size or engine horsepower, as many trawl owners in the Palk Bay have been increasing their engine capacities surreptitiously, well beyond legal limits. Equally of concern is the Tamil Nadu Fisheries Department’s capacity to monitor, control and carry out surveillance (MCS) of the process of decommissioning. Regulations have always existed but have rarely been implemented judiciously. Conclusion: The Palk Bay conflict requires a multi-dimensional approach. Various other solutions such as buy-backs, alternative livelihoods and skill development need to be rolled out with a simultaneous focus on a strong MCS system. Only then can the fishing conflict be finally resolved. Connecting the dots: By promoting deep- sea fishing in Palk Bay area, the government has taken a step in right direction. However, there are various challenges like issue of monitoring that the new rules are followed, lack of skills related to deep-sea fishing among farmers, economic vaibility of the plan etc. Discuss. Also read: Banning Bottom Trawling: Will it help? MUST READ Measuring judicial merit The Hindu The citizen's corner Indian Express A new pattern of urban terror Indian Express Fixing healthcare Indian Express The rise and rise of behavioral economics Livemint A new industrial policy for Bharat Livemint Finally working on an industrial policy Business Line

Daily Prelims CA Quiz

UPSC Quiz- 2017 : IASbaba's Daily Current Affairs Quiz [Day 60]

UPSC Quiz- 2017 : IASbaba's Daily Current Affairs Quiz [Day 60] Archives Q.1) Rajiv Kumar Committee is associated with Water management in north-east Inter linking of rivers Foreign Direct Investment Urban Flooding Q.2) Which of the following rivers flows through Myanmar Brahmaputra Irrawaddy Mekong Select the correct code: 1 and 2 2 and 3 1 and 3 All of the above Q.3) Consider the following statements about MIBOR and MIBID They are interest rate benchmarks MIBID is the rate at which banks would like to borrow from other banks MIBOR is the rate at which banks are willing to lend to other banks Select the correct statements 1 Only 1 and 2 1 and 3 All of the above Q.4) Consider the following statements about SECURE Himalaya Project It is launched by Union Ministry of Environment, Forests and Climate Change (MoEFCC) in association with the United Nations Development Programme (UNDP). It aims to ensure conservation of locally and globally significant biodiversity, land and forest resources in high Himalayan ecosystem It also focuses on protection of snow leopard and other endangered species and their habitats Select the correct statements 1 and 2 2 and 3 1 and 3 All of the above Q.5) Bhagoria Haat Festival is celebrated by which of the tribes of India? Bhils Munda Khasi Angami To Download the Solution - Click here All The Best  IASbaba

AIR

All India Radio (AIR) : GST- Integrated Tax Reforms

GST- Integrated Tax Reforms ARCHIVES Search 2nd July 2017 http://www.newsonair.com/Main_Audio_Bulletins_Search.aspx TOPIC: General Studies 2 Government policies and interventions for development in various sectors and issues arising out of their design and implementation. What is GST? GST is a unified taxation system which would end multiple taxation (Central Excise, Service Tax, VAT, Central Sales Tax, Octroi, Entry Tax, Luxury Tax and Entertainment Tax etc.) across the states and create a level playing field for businesses throughout the country. It is a multi-stage destination-based tax which will be collected at every stage, starting from procuring the raw material to selling the final product. The credit of taxes paid at the previous stage(s) will be available for set-off at the next stage of supply. How GST portal works? 3 main functions are done on GST portal Registration of tax payers Payment of taxes Filing of return Registration process started from 8th November 2016 for existing tax payers under central excise, service tax, VAT and other small taxes so that everyone is ready before GST role out. Till now approx. 70 lakh tax payers out of existing 83 lakh have already enrolled. New tax payers are slowly coming into the ambit of tax structure. However, payment has seen no drastic change from previous collection of indirect taxes. Majority of indirect taxes like VAT, service tax are paid electronically. The only difference is now is that government has now allowed NEFT, RTGS as payment form. This means payment can be made from any bank. There is credit card and debit card option too. Hence, more facilities are there for businesses to pay taxes as per their convenience. Working of GST In last 8 years, all the VAT departments have been automated so the tax returns are filed online for states as well as for central government service tax and central excise. The difference is that business to business data entry has to be given. The business has to give the sales data, the system generates the purchase data of everyone based on sales data. So here, based on suppliers’ data, purchasers’ data is created where all the errors which are caught later are taken care of while making the entry into the system. How to ensure that proper record of input tax credits is put up. The GSTN for computing the input benefit ensures that the cascading effect of GST ultimately benefits the consumer. Everyone is a buyer or seller, and this is B2B portal. So when the seller uploads the supply data, the opposite party becomes the purchaser and thus get relevant input tax credit. So there is an option of accept, reject and modify the transactions if forgotten. The business doesn’t have to wait to file the return. As and when the supplier uploads the information, the payment of tax can be seen. For small and medium tax payers, especially those selling to consumers, they don’t have to do B2B. It is not business to consumer invoice but only business to business. For them the return is finalised at according to turnover. Benefits of tax reforms? There will be transparency in record keeping. The government needs finances to take development work like roads, bridges and welfare programmes. So higher buoyancy in the taxes, which means government has more money for undertaking these projects, which will ultimately lead to development. Anti- profiteering laws- the parties shouldn’t take advantage of non-payment of taxes or lower taxes made possible by GST. If there is total reduction in price of the product on account of change of taxes, that should be passed on to customers. This comes under income tax department and not GSTN. It has the role to see that such transactions are processed properly. Inter-state taxation- Indian GST will have a unique Integrated GST mechanism to monitor inter-state trade of goods and services. It will ensure that GST is truly a destination-based consumption tax, and there is seamless flow of input tax credit, even when goods are moving from one state to another. The manufacturing state used to get 2% of CST when exported the product. Now it won’t happen. Buyer pays entire IGST but that is available to him as input tax credit. So the tax gets to the state where it is consumed. So overall the consuming state will benefit from it. Based on the returns filed, the tax adjustments or adjustments of IGST will happen, data will be provided to department of revenue which will ultimately do the adjustment between centre and state. 4 slab tax structure The tax rates are never hardcoded into the design as they can be changed any time. So it is always kept outside as they have to be changed within few hours of announcement. The cess will help compensate states for five years with base period being 2015-16. The luxury items and certain other items will have cess on them. If the supplier is paying after collecting it against the purchase, this cess will be counted separately. This will be used to finance if there is a fall in collection of any state. Cost benefit to the taxpayer One could not earlier calculate the time and cost factor because the system was very diverse and opaque. The GST will be audited by statutory audit and also CAG. Whatever is spent on software development, hardware etc. and also office salary and other expenses will be visible to a common man. IT Infrastructure: The goods and services network, which is responsible for providing IT backbone, is geared up to match more than 3 billion invoices per month. This will not only check fraud and tax evasion in a big way, but also bring in more and more businesses into the formal economy. However, if the number of taxpayers goes up, the system performance should not degrade and continue to get same kind of performance. End note: For addition of 10% new tax payers every year, 3% cancel. But this time it is higher as some of the sectors which were not anticipated before like textile, they will come. So may be in next 5 years, there might be 1.2 crores of taxpayers. Connecting the dots: Why GST is called a beginning of India’s integrated tax reform? Explain

IASbaba’s Daily Current Affairs 10th Oct, 2017

IASbaba’s Daily Current Affairs – 10th Oct 2017 Archives ECONOMY/NATIONAL TOPIC:General Studies 3: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment An argument against Bitcoins Background: Compelling arguments have been made to justify the existence and use of bitcoin. The currency has caught on in a number of countries to the extent that there are indicative exchange rates for bitcoin in almost all currencies in the market. The concept of bitcoin has caught on in the world and there is evidence of its use in India, too. Also, the start of a new currency of a similar variety cannot be ruled out; hence, it is necessary to take a stance on the same. What is cryptocurrency? CC is a currency created from nowhere through intricate software which is foolproof. A certain sum is created independent of any central bank which is then allotted based on demand for a price which is fixed externally. A bitcoin trades at around Rs. 2.5 lakh and would be equal to around $3,800 or €3,200. Advantage of CC: The advantage is that it works on algorithms and is not connected to how central banks and countries function and the ownership is anonymous. The fact that it is accepted by sellers is critical here and hence can be used seamlessly independent of monetary policies being pursued. Defenders claim it is some kind of an alternative asset like land or stocks and is legitimate (can be taxed in some jurisdictions as capital gains). In Indian context: For India, that has launched an outright war against black money, which could also have meant compromising growth in the short run through demonetisation, allowing cryptocurrency (CC) would be a contradictory act. Arguments against CC: Black money can proliferate easily with the use of a CC. People can automatically convert all earnings in dollars outside the country into a CC which can be used within the country or even outside where it is accepted. Drug money would get the biggest boost as it would be impossible to capture these transactions. Terror funding becomes easy once it is accepted as medium of exchange and the entire exercise of demonetisation would be defeated by allowing such parallel currencies to run. If CC is permitted it is similar to the use of counterfeit currency, as transactions would take place in currency which is not recognised by the central bank. From the economic standpoint, CC makes no sense. A currency carries value because it is issued by a central bank on behalf of the government and the latter promises to pay the bearer the sum written on the currency. The moment one moves into the realm of CC there is no guarantor. RBI becomes ineffective: Monetary policy loses meaning once a CC comes into the frame. Economies run on the basis of a currency which serves as a medium of exchange. Hence the rupee is used for making transactions and the RBI through various measures attempts to control the supply of the same. This ensures macroeconomic stability. Hence if there is excess demand due to credit creation, then the RBI’s interest rate or open market operations can influence the overall demand conditions. Once a CC comes in, demand is no more linked with monetary conditions. Hence, it would make monetary policy weak and as a corollary, government policies would become ineffective as CC gains importance. Today, regulation ensures that there are limits to which one has access to foreign exchange and all transactions carried out by the people have an audit trail. Using CC will be destabilising. Further, with the government working towards extracting money from Swiss accounts, creating another window for CC would be self-defeating. Conclusion: On all counts, allowing CC cannot be justified. It should not be considered, and should also be made illegal. If one wants ease of electronic payments, this has been accomplished by the government/RBI. Allowing such a currency will generate black money. And most importantly, the central bank will lose its control over the medium of exchange in the country as well as monetary policy formulation. Connecting the dots: What do you understand by Cryptocurrency. While bitcoins may have certain advantages, the risks associate with it are many. Critically analyse. HEALTH/NATIONAL TOPIC: General Studies 2: Government policies and interventions for development in various sectors and issues arising out of their design and implementation. Issues relating to development and management of Social Sector/Services relating to Health Managing Distress: How essential are social policies? Background: Today, 800,000 persons die by suicide globally and over 1,33,000 in India every year. Among 15-29 year olds, it’s the second leading cause of death. Reasons attributed range from family problems and ill health to mental illness, debt, unemployment, failure in exams and relationships. Why the distress? Multiplicity of material and existential problems results in turmoil, followed by confusion and apathy that invokes feelings of distance, unquietness and feeling trapped. Inability to grapple with the complexity of economic and social pressures of survival and conformity seem to result in a sense of hopelessness. The injustice of relative poverty or the anguish of perpetual and intergenerational distress resulting from intractable structural barriers pose a form of uncategorised violence that result in a lack of optimism and a chronic state of hopelessness. How important are social policies? Essentiality of social policies that support those in distress through periods of economic lows can be judged form following case study- High levels of social suffering prevailed through the Great Depression in the U.S., it was death by suicide that showed significant increase in incidence, in comparison to most other ill health conditions. States that maintained social equilibrium safeguarded essential interests of the disadvantaged through uninterrupted investments in health, education and social sectors. In this context, it may be important to note that 70% of persons who died by suicide in India lived on an annual income of Rs. 1 lakh. As we better understand predictors of suicide, key harm reduction theories emerge. The way forward: The Bhore Committee had stated that every Indian should be able to access health care “without the humiliation of proving their financial status, or the bitterness of accepting charity”. In the case of the ultra-poor living with mental health issues, targeted social interventions such as the disability allowance, an entitlement, that helps mediate struggles of deprivation, and by extension, exclusion, mandated by the Mental Health Care Act and the Rights of Persons with Disability Act, must be better streamlined, adopting an integrated single window health and social care system that will minimise cumbersome bureaucracy. At a societal level, widening gaps linked to power and control may have defeated values of empathy and engaged compassion. Within families and across social groups, a mutual sense of responsibility and affiliation towards each other must be reinforced, through rituals and culture, social training or self-learning. Being kinder helps save lives and even as we celebrate diversity and agency, values of interdependence have to be strengthened. Focus on personal meaning that motivates and goads one forward must be ardently pursued. Caught in web of everyday struggle and social forces, personal aspirations built on the foundation of dominant social norms may secretly appropriate our authentic core, as we realign our values and positions and conform. Responsive health systems have to be pursued, with a sense of commitment and urgency. Connecting the dots: Today, 800,000 persons die by suicide globally and over 1,33,000 in India every year. Discuss the reasons behind high suicide rates in India. And also, how important it is to have a responsive health system in such cases. The Mental Health Care Act and the Rights of Persons with Disability Act passed recently must be streamlined if India is to check rising mental distress among the citizens and also check the suicide rates. Analyze. MUST READ At Bonn, stay the course The Hindu Fixing the steel frame The Hindu Towards transparency The Hindu Bay of Bengal diplomacy The Hindu Pakistan and Trump:  Ready for a bargain? Indian Express A court mandated Diwali Indian Express  

Daily Prelims CA Quiz

UPSC Quiz- 2017 : IASbaba's Daily Current Affairs Quiz [Day 59]

UPSC Quiz- 2017 : IASbaba's Daily Current Affairs Quiz [Day 59] Archives Q.1) Consider the following statements about ‘GST Composition Scheme’ This scheme can be opted by any taxpayer whose turnover is less than Rs. 75 lakh. The taxpayer pays a flat rate of tax regardless of what they manufacture, provide as a service or trade they carry on, under the scheme Select the correct statements 1 Only 2 Only Both 1 and 2 Neither 1 nor 2 Q.2) Sovereign Gold Bond (SGB) was launched to Reduce the demand for physical gold Shift a part of the domestic savings, used for purchase of gold, into financial savings Both (a) and (b) Neither (a) nor (b) Q.3) Consider the following statements about VAJRA Faculty Scheme It is meant to attract top international talent to the country’s research and development ecosystem Scientists visiting Indian institutions under the VAJRA Faculty scheme would be provided with a lump-sum amount of US $15,000 in the first month of residency in a year and US $10,000 per month afterwards It also provides participation of foreign faculty as Distinguished / Adjunct / Visiting faculty / Professors of Practice, etc. in delivering Short or Semester-long Courses in IITs, IIMs, Central Universities, IISc Bangalore, IISERs, NITs and IIITs and subsequently cover good State Universities Select the correct statements 1 and 2 2 and 3 1 and 3 All of the above Q.4) ‘Project Loon’, sometimes seen in the news, is related to waste management technology wireless communication technology solar power production technology water conservation technology Q.5) Snow Leopard is found in which of the following countries? Afghanistan Pakistan Kazakhstan Mongolia Select the correct code: 1, 2 and 3 2, 3 and 4 1, 3 and 4 All of the above To Download the Solution - Click here All The Best  IASbaba

PIB

IASbaba PIB Weekly : Press Information Bureau - 2nd Oct to 7th Oct, 2017

IASbaba PIB Weekly: Press Information Bureau - 2nd Oct to 7th Oct, 2017 ARCHIVES GS-1 Shyamji Krishna Varma (Topic: The Freedom Struggle – its various stages and important contributors /contributions from different parts of the country) An Indian revolutionary fighter, lawyer and journalist, who led India's freedom struggle from London Founded the famous India House in London in 1904 which became the nerve centre and nucleus for India's revolutionaries like Veer Savarkar, Madame Cama, Sardar Singh Rana, V V S Iyer, Lala Hardayal and Virendranath Chattopadhaya and Madhanlal Dhingra – was the political guru of Veer Savarkar, V V S Iyer and many other freedom fighters in this period He started the publication of a monthly journal called 'Indian Sociologist’ which became a vehicle of revolutionary ideas. In February 1905, he established the Indian Home Rule Society to raise his voice against British domination in India. It was Shyamji who first advocated non-violent means of getting rid of the British and using withdrawal of cooperation with the colonial administration as the most effective weapon for this purpose. Gandhiji built on this and evolved Satyagraha as a tool to oust the British much later. Narendra Modi dedicated a memorial 'Kranti Tirth', to Shyamji Krishna Verma at the revolutionary's ancestral town Mandvi in Kutch district GS-2 Pradhanmantri Grameen Digital Saksharata Abhiyan (PMGDISHA) (Topic: Government policies and interventions for development in various sectors and issues arising out of their design and implementation) What: An integral component of Digital India Initiative of the Government; the scheme envisage to make 6 crore citizens digitally literate in rural India. PMGDISHA envisage providing equal opportunity to rural citizens enabling them to actively participate in nation building and access livelihood through Digital Technology, Devices and Services. Citizens trained under PMGDISHA would be skilled in operating digital devices like computers, tablets, smart phones and use Internet in daily life for enhancing their skills and knowledge, access Government to Citizens services, healthcare and financial services as well. Focuses on enabling digital financial transactions among the citizens - by seeding Aadhaar number to bank account of the beneficiary and enabling him to access various online Government services like booking of railway tickets, passport application, etc would enable the citizen to leverage technology and participate actively in governance. Rally for Rivers (Topic: Government policies and interventions for development in various sectors and issues arising out of their design and implementation) What: ‘Rally for Rivers’ is a drive to generate awareness about the need to save the country’s rivers by proposing Policy recommendation to plant trees on either side of our rivers to restore them – development of tree cover up to a depth of 1 kilometre on either side of rivers, with forest trees on government land and fruit trees on farm land, to ensure that the moisture of the air and soil feeds the river throughout the year A gradual shift from ploughing-based agriculture to tree-based agriculture Why ‘Rally for Rivers’ Per capita availability of water in India has declined by 75% since independence and by 2030 we will have only 50% of the water that we need for our survival. Out of 800 streams and tributaries of the Ganga, 470 have become seasonal and flow for only four months a year, which has led to a 44% reduction of water in the river. People have removed 94% green cover in the last 50 years The rally does not address the most serious problems rivers face:  Mining of sand beds and boulders Pollution Deforestation Encroachment on river beds Biodiversity destruction River-linking River conservation policies (or lack of them) Note: Criticisms – Rally for Rivers Must Read: Link 1 + Link 2 + Link 3 + Link 4 Mindmaps: Link 1 + Link 2 + Link 3 Solve: Question 1 + Question 2 + Question 3   Government constitutes a High Level Committee for proper management of water resources in North Eastern Region (Topic: Government policies and interventions for development in various sectors and issues arising out of their design and implementation) The Brahmaputra and Barak river systems which account for one-third of India’s run off, are highly prone to floods.  Brahmaputra is one of the largest river systems in the world and causes considerable distress and costs on the region through frequent flooding and erosion. The Committee would facilitate optimising benefits of appropriate water management in the form of hydro-electric power, agriculture, bio-diversity conservation, reduced flood damage erosion, inland water transport, forestry, fishery and eco-tourism. Why: Optimum management of water resources is a cross-cutting task which requires multi-sectoral interventions and concerted strategy, including management of catchment areas in upper reaches involving concerned Central Ministries and State Governments. The terms of reference of the Committee include: Appraisal of existing mechanism/institutional arrangements for management of water resources of the North Eastern Region. Identification of gaps in the existing mechanism/institutional arrangements for optimal management of water resources of the NER. Suggest policy interventions required for optimally harnessing the water resources for accelerating development in the NER Spelling out of actionable measures required for optimizing the management of water resources in the North-East. Chalking out a Plan of Action for dovetailing of the schemes/programmes of concerned Union Ministries, their attached offices and autonomous bodies as well as the schemes of the respective North-Eastern State Governments. GS-3 Nobel Prize for Physics, 2017 – Indian Connection (Topic: Awareness in the fields of Science and Space) 2017 Nobel Prize for Physics has been conferred to three scientists namely Rainer Weiss, Barry C Barish & Kip S Thorne under the LIGO Project for their discovery of gravitational waves, 100 years after Einstein's General Relativity predicted it. Celebrates the direct detection of Gravitational waves arriving from the merger two large Black holes in a distant galaxy a Billion of light years away Gravitational waves carry information about their dramatic origins and about the nature of gravity that cannot otherwise be obtained – this opens a new window to Astronomy since Gravitational Waves are an entirely new way of observing the most violent events in space. LIGO-India mega-science project LIGO-India brings forth a real possibility of Indian scientists and technologists stepping forward, with strong international cooperation, into the frontier of an emergent area of high visibility and promise presented by the recent GW detections and the high promise of a new window of gravitational-wave astronomy to probe the universe. Inclusion of LIGO-India greatly improves the angular resolution in the location of the gravitational-wave source by the LIGO global network. The LIGO-India proposal: For the construction and operation of an Advanced LIGO Detector in India in collaboration with the LIGO Laboratories, USA. Objective: To set up the Indian node of the three node global Advanced LIGO detector network by 2024 and operate it for 10 years. Task for LIGO-India: Challenge of constructing the very large vaccum infrastructure that would hold a space of volume 10 million litres that can accommodate the entire 4 km scale laser interferometer in ultra-high vacuum environment at nano-torrs. Indian team is also responsible for installation and commissioning the complex instrument and attaining the ultimate design sensitivity. Must Read: Link 1 + Link 2 Must Solve: Question 1 + Question 2 Please Note: Theme for the India Water Week – 2017 is “Water and Energy for Inclusive Growth” India has avoided about 1 million (10 lakh) deaths of children under age five since 2005, owing to the significant reductions in mortality from pneumonia, diarrhoea, neonatal infections and birth asphyxia/trauma, measles and tetanus, according to study published in the latest issue of The Lancet. India is the world's largest producer of milk, pulses and jute, and ranks as the second largest producer of rice, wheat, sugarcane, groundnut, vegetables, fruit and cotton. Increased production and efficient distribution of food grains can move our country forward to achieve the goal of zero hunger and adequate nutrition for all – There is a need to provide an end-to-end (E2E) ecosystem comprising of “4-I s” namely ‘Irrigation’, ‘Infrastructure’, ‘Investment credit’ and ‘Insurance’. The second is Lab-to-Land (L2L) transfer of technology Cabinet approves – Signing and ratification of the Extradition Treaty between India and Lithuania – would provide a legal framework for seeking extradition of terrorists, economic offenders and other criminals from and to Lithuania. It will bring the criminals to justice, with a view to ensure peace and tranquility to public at large. MoU between India and Switzerland on Technical Cooperation in Rail Sector – The   MoU   will   enable technical cooperation in the following areas:- Traction Rolling stock EMU and train sets Traction Propulsion Equipments Freight and Passenger Cars Tilting Trains Railway Electrification Equipments Train scheduling and operation improvement Railway Station modernization Multimodal transport Tunneling technology Turtle Sanctuary to be set up in Allahabad – To protect the rich aquatic biodiversity of river Ganga from escalating anthropogenic pressures along with – Development of River Biodiversity Park at Sangam (confluence of Ganga, Yamuna and mythical Sarasvati) Establishment of a Turtle Rearing Centre (Permanent nursery at Triveni Pushp and makeshift annual hatcheries) Awareness sessions on the importance of river Ganga and imperativeness of its conservation has been approved Gujarat – Around 48% of the cargo entering or exiting the ports of the country is from the ports of Gujarat The State is the largest contributor in the marine fisheries business in India and its share is around 20% of the total trade. States that have reached the milestone of making all cities and towns ‘Open Defecation Free’: Madhya Pradesh Maharashtra Chattisgarh Jharkhand Haryana Djibouti and Ethiopia – In Africa (Locate on the map) Pattiseema Lift Irrigation Scheme – Linked Krishna and Godavari rivers; saved Krishna delta from a drought-like situation arising from water scarcity in river Krishna Project Monitoring Information System (PMIS) Moblie App will facilitate close, in-house monitoring of NHAI projects on a mobile phone – covering all key progress matrics such as design progress, contracting progress, construction progress, land acquisition, compensation disbursement, toll and traffic information and concession / contract information. PMIS is also enabled with Geographical Information System (GIS), which provides a geographical visualization of all NHAI projects on an India map. This is a unique feature of PMIS, which enables geo-visualization of projects rather than searching through a database. Embryo Transfer Technology (ETT) – Has revolutionized the breeding strategies in Bovines as a tool to optimize the genetic improvement in cattle. Department of Animal husbandry, Dairying and Fisheries in co-operation with 12 States has undertaken a Mass Embryo Transfer programme in Indigenous Breeds under the scheme, National Mission on Bovine Productivity. The programme is implemented with the objective of conservation and development of indigenous breeds under Rashtriya Gokul Mission. Through the use of ETT- Farmer can get a 5-6 fold increase in number of offsprings The calves so born will be of high genetic merit The offsprings born will be free from diseases. India – EU Joint Statement during 14th India-EU Summit, New Delhi India EU Joint Statement Clean Energy and Climate Change 6 Oct 2017 India EU Joint Statement on Counter Terrorism 6 Oct 2017 India EU Joint Statement on Urban Partnership 6 Oct 2017 India and Africa: Link 1 + Link 2 + Link 3 + Link 4 + Link 5