Syllabus

• Prelims – current events of national importance

Context: Conferring of Bharat Ratna, the highest civilian honour of the country on late agricultural scientist, Dr M S Swaminathan.

Background:-

• This year’s tally of five Bharat Ratna awards is the highest that has ever been announced in a single year, one more than the four announced in 1999. The winners of the award are L.K Advani, Karpoori Thakur, M S Swaminathan, Narasimha Rao, Chaudhary Charan Singh.

About M.S.Swaminathan:-  

• Born on August 7, 1925 in Kumbakonam, Tamil Nadu, Dr Mankombu Sambasivan Swaminathan is hailed as the father of India’s green revolution.
• Witnessing the Bengal famine of 1942-43 deeply impacted Dr Swaminathan.
• He served as an Independent Chairman of the Food and Agricultural Organisation Council (1981-85)
• He was the President of the International Union for the Conservation of Nature and Natural Resources (1984-90)
• He was also the President of the World Wide Fund for Nature (India) from 1989-96
• He served as the Director General of Indian Council of Agricultural Research (ICAR), among others.

Contribution to green revolution:

• The Basic strategic vision underpinning the Green Revolution in India — introducing a new genetic strain or ‘plant type’ responsive to increased fertiliser and water application — came from Swaminathan.
• The problem with the traditional wheat and rice varieties was that they were tall and slender. These ‘lodged’ – fell flat on the ground — when they grew and their earheads were heavy with well-filled grains produced in response to high fertiliser doses
• Swaminathan approached Norman Borlaug, who had incorporated dwarfing genes into wheat varieties in Mexico.
• India started working seriously on dwarf wheat breeding programme in 1963.
• His efforts transformed India from a food deficient nation to one with increased wheat production – from 6 million tonnes a year in 1947 to 17 million tonnes a year between 1964 and 1968.

MUST READ: https://indianexpress.com/article/explained/bharat-ratna-ms-swaminathan-significance-profile-9152692/

SOURCE: Indian Express

Syllabus

• Prelims-Economy

 Context: Sovereign gold bone scheme, 2023-24 will open for subscription from 12 to 16 February 2024

Background:

• Floated by the Indian Government in 2015, Sovereign Gold Bonds or SGBs emerged as an innovative investment strategy involving gold for interested investors.

About SGBs:

• SGBs are provided as a substitute for physical gold to investors.
• The main objective of the scheme is to reduce the demand for physical gold and shift a part of the money spent for gold, which usually amounts to huge import bill into financial savings through Gold Bonds.
• SGBs are issued by RBI on behalf of the Government of India on payment of the required amount in rupees and are denominated in grams of gold.
• The Bonds are restricted for sale to resident Indian entities including individuals, HUFs, trusts, Universities, charitable institutions.
• Investors ineligible to participate in the SGB scheme include – Non-Resident Indians:Direct investment in SGB is not permitted for them, Foreign institutional investors (FII): investing in SGB is restricted for FIIs, minors: investment in SGB is only permissible through their guardians.
• The bonds are available in both in Demat and paper form. The rate for the Bonds is fixed on the basis of simple average of closing price for gold of 999 purity of the previous week published by the India Bullion and Jewellers Association (IBJA).
• The tenor of the Bond is for a period of 8 years with exit option from 5th year onwards to be exercised on the interest payment dates.
• Participants in the SGB scheme are entitled to a stable interest rate of 2.50 per cent per annum, disbursed semi-annually based on the nominal value of their investment.
• On maturity, the investor will get the equivalent rupee value of the quantum of gold invested at the then prevailing price of gold as calculated using the simple average of the closing price of 999 purity gold over the three preceding working days.

SOURCE: Livemint

Previous Year Questions

Q.1) What is/are the purpose/purposes of the Government’s ‘Sovereign Gold Bond Scheme’ and ‘Gold Monetization Scheme’? (2016)

1. To bring the idle gold lying with Indian households into the economy
2. To promote FDI in the gold and jewellery sector
3. To reduce India’s dependence on gold imports

Select the correct answer using the code given below.

1. 1 only
2. 2 and 3 only
3. 1 and 3 only
4. 1, 2 and 3

Syllabus

• Prelims – General Science

Context: Since January 1 this year, two people have died due to Kyasanur Forest Disease (KFD), a viral infection, in Karnataka.

Background:

• According to the health department, the first fatality due to monkey fever was reported in Shivamogga district on 8 January wherein an 18-year-old succumbed to the virus. The second fatality was reported at Manipal in Udupi district when a 79-year-old man died in a private hospital.

About Kyasanur Forest Disease (KFD)

• Kyasanur Forest Disease (KFD), also known as monkey fever, is a tick-borne viral haemorrhagic fever endemic to the southwestern part of India.
• KFD is caused by the Kyasanur Forest disease virus (KFDV), a member of the Flaviviridae virus family.
• Reservoir: Hard ticks (Haemaphysalis spinigera) serve as the reservoir for KFDV. Once infected, ticks remain carriers for life.
• Hosts: Rodents, shrews, and monkeys become common hosts for KFDV after being bitten by an infected tick.
• Human Transmission: Humans can contract KFD through tick bites or contact with infected animals.
• Historically, KFD has been limited to the western and central districts of Karnataka State, India.
• According to the US Centers for Disease Control and Prevention (CDC), the disease was first identified in 1957 when it was isolated from a sick monkey from the Kyasanur Forest in Karnataka (formerly Mysore).
• There is no specific treatment for KFD, but early hospitalization and supportive therapy is important.
• A vaccine exists for KFD and is used in endemic areas of India

MUST READ: https://www.cdc.gov/vhf/kyasanur/pdf/factsheet.pdf

SOURCE: Center for Disease Control and Prevention

Syllabus

• Prelim – Science

Context: THE NATIONAL Aerospace Laboratories (NAL) in Bengaluru has successfully completed the first test of a solar-powered “pseudo satellite”, a new age unmanned aerial vehicle (UAV)

Background:

• HAPS is a still-developing technology, and the successful test flight last week puts India among a very small group of countries currently experimenting with this technology.

About HAPS:

• The high-altitude pseudo satellite vehicle, or HAPS, can fly at altitudes of 18-20 km from the ground, almost double the heights attained by commercial airplanes.
• Due to its ability to generate solar power, it can remain in air for months, evenyears, offering it advantages of a satellite.
• It does not require a rocket to get into space, the cost of operating HAPS is several times lower than that of a satellite that is usually placed at least 200 km from the earth.

Need of HAPS

• Need for development of high-endurance, high-altitude flying instruments arose from the desire to have continuous surveillance of border areas, particularly in the wake of the Doklam standoff.
• Satellites placed in low-earth orbits and meant to observe the Earth usually move in their orbits and are not watching constantly.
• Solar-powered unmanned aircraft is considered a better solution.

Current State of Indias HAPS

• The test flight saw the scaled-down 23-kg prototype with a wing-span of about 12 metres, remain in air for about eight and a half hours, achieving an altitude of about 3 km.
• The next step is to make this vehicle fly for at least 24 hours.
• NAL will only develop the technology and a prototype. The manufacturing of the actual thing would happen with industry linkages.

Source: Indian Express

Syllabus

• Mains-GS 3

Context: Oxfam report says that 70% of countries dont have any form of inheritance tax on wealth.

Background:

• The report comes on the backdrop of increased inequalities in income, wealth and possession of resources.

About Inheritance tax:

• It was a tax that was levied against a particular asset during the time of its inheritance.
• It comes under direct tax and a person can receive inheritance either under a will or under the personal law of the deceased.

Status of inheritance tax in India:

• The Inheritance or Estate Tax was abolished with effect from 1985. In India, the concept of levying tax on inheritance does not exist now.
• In the event of the death of an individual, properties belonging to the deceased would pass on to his legal heirs, a transfer without any consideration in return. Hence, it could qualify as a gift for income tax.
• The Income Tax Act, of 1961, specifically excludes the transfer of assets under will or inheritance from the purview of gift tax.

When should the person receiving the inheritance pay tax ?

• The person receiving the inheritance has to pay tax on the income earned (rent, interest, etc.) in respect of the assets inherited by him once he becomes the owner of the same.
• The person has to pay capital gains tax when he sells the inherited asset.

Need for an inheritance tax in India

• It will allow for a more efficient dispersion of wealth.
• It will create a meritocratic society by chipping away the advantages the children of the wealthiest families enjoy by an accident of birth.
• Most of India’s tax revenues accrue from indirect taxes, intensifying the hardship of economically weaker
• Inheritance tax can raise a significant quantum of revenue for the exchequer.
• Countries such as England, France, Germany, the USA, and Greece have been taxing inherited wealth at as high as 40%.

Source: The Hindu

Syllabus

• Mains– GS 3

Context: A divided American polity combined with a perception of its declining power is creating ripples among diplomatic circles.

Background: Post the collapse of USSR, American hegemony was firmly established. But with recent geopolitical and geoeconomic changes, global order is undergoing major changes shifting power balance from the west.

US as a superpower and its decline

• The traditional strength of US are its values platform, emphasising democracy and human rights, its military power, position in the global financial system and possessing formidable economic resource and technology.
• After Second World War, US shaped the rule based international system. In reality, it was a power based system, where US considered itself exempt from the common standards of international conduct.
• America’s refusal to honour its own international obligations has dented its credibility.
• Domestic polarisation combined with sharp ideological divide has rendered cooperation in its two party system non-existent questioning its democratic soft power.
• The legitimacy of US dominated institutions has been continuously questioned.

Potential negative repercussions for India:

• India will have to carefully craft its relationship with US and Russia, keeping in mind the declining role of US.
• A decline in American power might create a power vacuum. Other major powers, such as China or Russia, may seek to fill this vacuum, potentially impacting India’s strategic position.
• A weakened US presence in Asia could embolden China to assert its dominance more aggressively in the region. This could lead to increased tensions and the possibility of conflict
• Weekend US economy combined with loss of leadership in technology space could lead to declining trade and technology access for India.
• India has benefited from its strategic partnership with the US on issues like counter-terrorism and maritime security. A decline in US power could weaken these partnerships, leaving India to face these challenges alone or seek new partners.

Potential positive repercussions:

• Greater strategic autonomy: A less dominant US could provide India with more space to pursue its own interests and forge new partnerships, diversifying its foreign policy.
• Opportunity for leadership: As the US steps back, India could emerge as a leading power in Asia, playing a more significant role in regional affairs and shaping the global order.
• Increased self-reliance: A decline in US dependence could motivate India to accelerate its own economic and military development, fostering greater self-reliance.

Source:The Hindu

Q1)  Consider the following statements:

1. Kyasanur Forest Disease (KFD), is a tick-borne haemorrhagic fever endemic to the southwestern part of Africa.
2. KFD is caused by the Kyasanur Forest disease virus.

Which of the statements given above is/are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Q2) consider the following individuals:

1. K.Advani
2. Sachin Tendulkar
3. N.R.Rao
4. Lata Mangeshkar
5. Amartya Sen

Who among the above are recipients of Bharat Ratna?

1. 1 and 2
2. 2,3 and 4
3. 1, 2 and 4
4. All of the above

Q3) consider the following statements about high altitude pseudo satellite vehicles (HAPS)

1. India is the only country to have a full fledged working model of HAPS.
2. HAPS relay on solar energy.
3. The cost of operating HAPS is several times lower than that of a satellite.

Which of the above statements is/are incorrect?

1. 1 and 2
2. 2 and 3
3. 1 only
4. 3 only

Comment the answers to the above questions in the comment section below!!

ANSWERS FOR ’  10th February  2024 – Daily Practice MCQs’ will be updated along with tomorrow’s Daily Current Affairs.st

Q.1) – d

Q.2) – c

Q.3) – a