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Type: Prelims Only

  • Centre extends Police Modernisation Scheme

    The Union government has approved the continuation of a police modernization scheme for five years up to 2025-26 with a financial outlay of ₹26,275 crores.

    What is the Modernization of Police Forces Scheme?

    • Police’ and ‘law and order’ fall under the category of subjects within the domain of the State as per Entry 2 of List II of the VIIth Schedule in the Constitution of India.
    • Thus, the principal responsibility for managing these subjects lies with the State Governments.
    • However, the States have not been able to fully modernize and equip their police forces up to the desired level due to financial constraints.
    • It is in this context that the Ministry of Home Affairs (MHA) has been supplementing the efforts and resources of the States, from time to time, by implementing the MPF Scheme since 1969-70.

    Objectives:

    • The focus of the scheme is to strengthen police infrastructure at cutting edge level by constructing secure police stations, training centers, police housing (residential), equipping the police stations with the required mobility, modern weaponry, communication equipment, and forensic set-up, etc.

    Components of the scheme

    • The scheme included security-related expenditure in J&K, northeastern States, and Maoist-affected areas, for raising new battalions, developing high-tech forensic laboratories and other investigation tools.
    • Provisions have been made under the scheme for internal security, law and order, and the adoption of modern technology by the police.
    • Assistance will be given to the States for narcotics control and strengthening the criminal justice system by developing a robust forensic setup in the country.

    Funding pattern

    • Under the Scheme, the States are grouped into two categories, namely Category ‘A’ and Category ‘B’ for the purpose of funding both under ‘Non-Plan’ and Plan.
    • Category ‘A’ States, namely, J&K and 8 North Eastern States including Sikkim will be eligible to receive financial assistance on a 90:10 Centre: State sharing basis.
    • The remaining States will be in Category ‘B’ and will be eligible for financial assistance on a 60:40 Centre: State sharing basis.

     

     

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  • Capital Gains Tax

    The capital gains tax structure in India is complicated, and it is time for a relook since the union budget has provisions for 30% tax on cryptocurrency.

    What is Capital Gains Tax?

    • Capital gains tax is levied on the profits made on investments.
    • It covers real estate, gold, stocks, mutual funds, and various other financial and non-financial assets.

    Types

    • It is divided into long-term capital gains tax (LTCG) and short-term capital gains tax (STCG) depending on how long you have held the investment in question.
    • Unlike income tax, the percentage of tax does not change on the basis of your overall tax slab.
    • The LTCG tax, excluding surcharge, on equity is the same for gains of ₹10 lakh or ₹10 crore.
    • There is also a separate set of deductions that apply to LTCG, which do not apply to ordinary income.

    Why is it so complicated?

    Capital gains tax is complicated for a few primary reasons.

    • First, the rate changes from asset to asset. LTCG tax on stocks and equity mutual funds is 10% but on debt mutual funds is 20% with indexation.
    • Second, holding period changes from asset to asset. The holding period for LTCG tax is two years in real estate, one year for stocks, and three years for debt mutual funds and gold.
    • Third, exemptions available against it come with their own complex conditions. For instance, buying a house after selling one can get you an exemption, but the new house must be bought in two years or built in three years of the sale.

    Is cryptocurrency taxed as capital gains?

    • The 2022 budget has proposed a 30% tax on cryptocurrency, which is higher than capital gains tax in many cases.
    • Besides, under capital gains tax, investors can adjust profits and losses on different investments against each other or against profits/losses in the future.
    • However, this cannot be done with cryptocurrency.

    What distortions does it create?

    • As capital gains tax is the same regardless of your overall income it can compound inequality.
    • For instance, a person with a salary of ₹40 lakh will pay 30% tax on it but just 10% LTCG tax on gains from stock trading.
    • A person with a salary of ₹5 lakh will pay a 5% tax on it but the same 10% LTCG tax on stock trading.
    • Second, the smaller one-year qualifying period for LTCG in stocks compared to three years in debt mutual funds may encourage short-term trading in equity.

    What can be done to fix these anomalies?

    • The government can bring about uniformity in rates and holding periods for various assets to ensure that the tax for one asset is not more attractive than another.
    • A uniform and long holding period to qualify for LTCG can also discourage short-term trading and speculative  behavior  in assets  such as  stocks.
    • The exemptions for LTCG such as reinvestment in another house property or capital gains bonds can also be made simpler, with fewer conditions.
    • Small investors can also be given relief by reducing rates of capital gains.

     

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  • What are Earth Observation Satellites (EOS)?

    After a disappointing 2021 which saw just one successful launch, ISRO is getting back to business with the EOS-04, an earth observation satellite.

    What are EOS?

    • An EOS or Earth remote sensing satellite is a satellite used or designed for Earth observation (EO) from orbit.
    • It includes spy satellites and similar ones intended for non-military uses such as environmental monitoring, meteorology, cartography, and others.
    • The most common type is Earth-imaging satellites that take satellite images, analogous to aerial photographs.
    • Some EOS may perform remote sensing without forming pictures, such as in GNSS radio occultation.

    What is EOS-04 all about?

    • The EOS-04 is fourth in a series of earth observation satellites that are being launched under a new generic name.
    • It is designed to provide high-quality images for applications such as agriculture, forestry, and plantations, flood mapping, soil moisture, and hydrology.
    • It will complement the data from Resourcesat, Cartosat and RISAT-2B series of satellites that are already in orbit.

    Why such different nomenclature?

    • Two years ago, ISRO had moved to a new naming system for its earth observation satellites which till then had been named thematically, according to the purpose they were meant for.
    • The Cartosat series of satellites were meant to provide data for land topography and mapping, while the Oceansat satellites were meant for observations overseas.
    • Some INSAT-series, Resourcesat series, GISAT, Scatsat, and a few other earth observation satellites were named differently for the specific jobs they were assigned to do, or the different instruments that they.
    • All these would now become part of the new EOS series of satellites.

    What other satellites are being launched?

    • Besides EOS-04, two other small satellites —INSPIREsat-1 and INS-2TD — will ride on the heaviest version of the PSLV rocket in the early hours from the Sriharikota launch range.
    • The other co-passenger, INS-2TD, is a technology demonstrator for the first India-Bhutan joint satellite that is scheduled to be launched next month.
    • The two countries had signed a space agreement last year, and its first outcome would be the launch of Bhutan-Sat, or INS-2B, on a PSLV rocket.

    How many satellites does India have in space?

    • India currently has 53 operational satellites, of which 21 are earth observation ones and another 21 are communication-based.
    • EOS-4 launch would be the 54th flight of the PSLV rocket, and the 23rd of its most powerful XL-version that has six strap-on boosters.

     

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  • Places in news: Chandernagore

    The Registry Building, a two-storey structure at Chandernagore built in 1875 and a symbol of French settlement of the colonial town, has been awaiting restoration for a long time.

    French in India

    • France was the last of the major European maritime powers of the 17th century to enter the East India trade.
    • The French settlement in India began in 1673 with the purchase of land at Chandernagore from the Mughal Governor of Bengal.
    • The next year they acquired Pondicherry from the Sultan of Bijapur. Both became the centers of maritime commercial activities of the French in India.
    • Joseph Francois Dupleix who was initially appointed as Intendent of Chandernagore in 1731, sowed the seeds of colonization.
    • The village, which hitherto was engaged in maritime commerce along with Pondicherry, got fortified by him.

    Significance of Chandernagore

    • Chandernagore, though a part of French colonies in India, was unique in many ways.
    • It was very active in spearheading the freedom movement against the British. Due to its close proximity to Calcutta, it became a safe haven for freedom fighters of all hues.
    • Even Aurobindo Ghosh who was one of the accused in the Alipore Bomb case of 1909, was acquitted unconditionally and after a short stay at Chandernagore moved to Pondicherry.
    • Since the partition of Bengal in 1905, Chandernagore was in the thick of activities of freedom fighters against the British and produced several martyrs including Kanailal Dutt.

    Merger into India

    • As the British decided to hand over powers to the people of India by August 15, 1947, the people living under French rule in Pondicherry, Chandernagore, Karaikal, Mahe and Yanam were eager to join their homeland.
    • But the French were yet to learn their lessons. They tried all the tricks in the book to avert this.
    • Facing the onslaught from the people under their rule and the British and Indian rulers, the French declared Chandernagore as free city in 1947.
    • In June 1948, they conducted a referendum in which an overwhelming majority of 97 per cent people opted for a merger with India.
    • After so many legal hurdles, it became a part of India on October 2, 1955.

    Back2Basics: European Colonies in India

     

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  • In news: Exercise Milan 2022

    Exercise Milan as well as the Fleet Review by President is scheduled to be held this month for which 46 countries have been invited.

    Exercise Milan

    • Milan began in 1995 and is held biennially and brings together Navies of all the countries in the region.
    • It has so far been held at Port Blair in Andaman and Nicobar but is now being shifted to Visakhapatnam which offers more infrastructure as well as sea space for the exercise.
    • It has several themes such as anti-submarine warfare among others along with deliberations, including by subject matter experts.

    What is Fleet Review?

    • A Fleet Review is usually conducted once during the tenure of the President.
    • The first PFR was held in 1953 for the first President Dr. Rajendra Prasad.
    • Since Independence 11 PFRs have been conducted by the Navy, of which two have been International Fleet Reviews in 2011 and 2016.
    • In terms of significance, the Navy’s Presidential review is second only to the Republic Day Parade.

     

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  • What is Privilege Motion?

    An MP from Telangana submitted a Privilege Motion against PM regarding his remarks over the bifurcation of the erstwhile state of Andhra Pradesh.

    What is Parliamentary Privilege?

    • Parliamentary privilege refers to the right and immunity enjoyed by legislatures.
    • The legislators are granted protection against civil or criminal liability for actions done or statements made in the course of their legislative duties.
    • They are granted so that the MPs/MLAs can effectively discharge their functions.
    • The powers, privileges, and immunities of either House of the Indian Parliament and of its members and committees are laid down in Article 105 of the Constitution.
    • Article 194 deals with the powers, privileges and immunities of the State Legislatures, their members and their committees.

    What is a Privilege Motion?

    • When any of the rights and immunities are disregarded, the offence is called a breach of privilege and is punishable under the law of Parliament.
    • A notice is moved in the form of a motion by any member of either House against those being held guilty of breach of privilege.
    • Each House also claims the right to punish as contempt actions which, while not breach of any specific privilege, are offenses against its authority and dignity.

    What are the rules governing privilege?

    • Rule No 222 in Chapter 20 of the Lok Sabha Rule Book and correspondingly Rule 187 in Chapter 16 of the Rajya Sabha rulebook govern privilege.
    • It says that a member may, with the consent of the Speaker or the Chairperson, raise a question involving a breach of privilege either of a member or of the House or of a committee thereof.
    • The rules however mandate that any notice should be relating to an incident of recent occurrence and should need the intervention of the House.
    • Notices have to be given before 10 am to the Speaker or the Chairperson.

    What is the role of the Speaker/Rajya Sabha Chair?

    • The Speaker/RS chairperson is the first level of scrutiny of a privilege motion.
    • The Speaker/Chair can decide on the privilege motion himself or herself or refer it to the privileges committee of Parliament.
    • If the Speaker/Chair gives consent under Rule 222, the member concerned is given an opportunity to make a short statement.

    What is the Privileges Committee?

    • In the Lok Sabha, the Speaker nominates a committee of privileges consisting of 15 members as per respective party strengths.
    • A report is then presented to the House for its consideration. The Speaker may permit a half-hour debate while considering the report.
    • The Speaker may then pass final orders or direct that the report be tabled before the House.
    • A resolution may then be moved relating to the breach of privilege that has to be unanimously passed.
    • In the Rajya Sabha, the deputy chairperson heads the committee of privileges, which consists of 10 members.

    Answer this PYQ in the comment box:

    Q.With reference to the Parliament of India, which of the following Parliamentary Committees scrutinizes and reports to the House whether the powers to make regulations, rules, sub-rules, by-laws etc. conferred by the constitution of delegated by the Parliament are being properly exercised by the Executive within the scope of such delegation?

    (a) Committee on Government Assurances

    (b) Committee on Subordinate Legislation

    (c) Rules Committee

    (d) Business Advisory Committee

     

    [wpdiscuz-feedback id=”1zmlyzvld5″ question=”Please leave a feedback on this” opened=”1″]Post your answers here.[/wpdiscuz-feedback]

     

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  • Species in news: White-Cheeked Macaque

    In an important discovery, scientists have recorded presence of White-Cheeked Macaque (Macaca leucogenys) from central Arunachal Pradesh.

    White-Cheeked Macaque

    • White- Cheeked Macaques are distinct from other macaques found in the region by displaying white cheeks, long and thick hairs on the neck area, and a longer tail.
    • The species was discovered in 2015 by a group of Chinese scientists from the Modog region in southeastern Tibet.
    • This discovery was considered a significant breakthrough as far as primates are concerned.

    Existence in India

    • From India, the species has not been sighted or reported after a single incidence of photographic capture from Anjaw district, Arunachal Pradesh in 2015.
    • The number of these mammals reported from India stands at 434.
    • The significance of the discovery is that it marks a new addition to mammals of India.

    Protection status

    • It has NOT been yet included in the Wildlife (Protection) Act, 1972 of India.
    • The potential threat to all species of macaques in the landscape is due to hunting by locals for consumption and habitat degradation due to urbanization and infrastructure development.

     

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  • What is SWIFT?

    As tensions peaks over Ukraine the United States could exclude Russia from the Society for Worldwide Interbank Financial Telecommunication (SWIFT).

    What is SWIFT?

    • SWIFT is an international network for banks worldwide to facilitate smooth money transactions globally.
    • It is basically a messaging network used by banks and financial institutions globally for quick and faultless exchange of information pertaining to financial transactions.
    • The Belgium-headquartered SWIFT connects more than 11,000 banking and securities organization in over 200 countries and territories.
    • First used in 1973, it went live in 1977 with 518 institutions from 22 countries, its website states.

    What exactly is it?

    • SWIFT is merely a platform that sends messages and does not hold any securities or money.
    • It facilitates standardized and reliable communication to facilitate the transaction.

    How does it facilitate banking?

    • Each participant on the platform is assigned a unique eight-digit SWIFT code or a bank identification code (BIC).
    • If a person, say, in New York with a Citibank account, wants to send money to someone with an HSBC account in London, the payee would have to submit to his bank the London-based beneficiary’s account number along with the eight-digit SWIFT code of the latter’s bank.
    • Citibank would then send a SWIFT message to HSBC. Once that is received and approved, the money would be credited to the required account.

    How is the organization governed?

    • SWIFT claims to be neutral. Its shareholders, consisting of 3,500 firms across the globe, elect the 25-member board, which is responsible for oversight and management of the company.
    • It is regulated by G-10 central banks from Belgium, Canada, France, Germany, Italy, Japan, The Netherlands, the UK, the US, Switzerland, and Sweden, alongside the European Central Bank.
    • Its lead overseer is the National Bank of Belgium.
    • The SWIFT oversight forum was established in 2012.
    • The G-10 participants were joined by the central banks of India, Australia, Russia, South Korea, Saudi Arabia, Singapore, South Africa, the Republic of Turkey, and the People’s Republic of China.
    • Europe, Middle East, and Africa are highest contributors to SWIFT.

    What happens if one is excluded from SWIFT?

    • US excluding Russia from SWIFT could have serious repercussions on how Russian banks carry out international financial transactions.
    • If a country is excluded from the most participatory financial facilitating platform, its foreign funding would take a hit, making it entirely reliant on domestic investors.
    • This is particularly troublesome when institutional investors are constantly seeking new markets in newer territories.
    • An alternative system would be cumbersome to build and even more difficult to integrate with an already expansive system.

    Are any countries excluded from SWIFT?

    • Iranian banks were ousted from the system in 2018 despite resistance from several countries in Europe.
    • This step, while regrettable, was taken in the interest of the stability and integrity of the wider global financial system, and based on an assessment of the economic situation.

     

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  • Intensified Mission Indradhanush (IMI) 4.0 launched

    The Union Health Minister has launched the Intensified Mission Indradhanush (IMI) 4.0.

    About IMI 4.0

    • The IMI 4.0 will have three rounds and will be conducted in 416 districts (including 75 districts identified for Azadi ka Amrit Mahotsav) across 33 States and UTs, a Health Ministry statement said.
    • It will immensely contribute in filling the gaps and make lasting gains towards universal immunisation.
    • It will ensure that Routine Immunisation (RI) services reach the unvaccinated and partially vaccinated children and pregnant women” he said.

    What is Mission Indradhanush ?

    • With the aim to increase the full immunisation coverage, the PM launched Mission Indradhanush in December 2014.
    • It aimed to cover the partially and unvaccinated pregnant women and children in pockets of low immunisation coverage, high-risk and hard-to-reach areas and protect them from vaccine preventable diseases.
    • The first two phases of the Mission resulted in 6.7% increase in full immunisation coverage in a year.

    Aims and objectives

    • It aims to immunize all children under the age of 2 years, as well as all pregnant women, against eight vaccine-preventable diseases.
    • The diseases being targeted are diphtheria, whooping cough, tetanus, poliomyelitis, tuberculosis, measles, meningitis and Hepatitis B.
    • In 2016, four new additions have been made namely Rubella, Japanese Encephalitis, Injectable Polio Vaccine Bivalent and Rotavirus.
    • In 2017, Pneumonia was added to the Mission by incorporating the Pneumococcal conjugate vaccine under Universal Immunisation Programme

     

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  • What is a Solar Storm?

    Spacex’s newest fleet of satellites is tumbling out of orbit after being struck by a solar storm.

    Solar Storm

    • A solar storm or a Coronal Mass Ejection as astronomers call it is an ejection of highly magnetized particles from the sun.
    • These particles can travel several million km per hour and can take about 13 hours to five days to reach Earth.
    • Earth’s atmosphere protects us, humans, from these particles.
    • But the particles can interact with our Earth’s magnetic field, induce strong electric currents on the surface and affect man-made structures.

    How did they impact SpaceX satellites?

    • The issue came up due to increased drag created by the solar storm in the upper reaches of the Earth’s atmosphere.
    • These storms cause the atmosphere to warm and atmospheric density at our low deployment altitudes to increase.
    • In fact onboard GPS suggests the escalation speed and severity of the storm caused atmospheric drag to increase up to 50 percent higher than during previous launches.

    History of solar storms

    • The first recorded solar storm occurred in 1859 and it reached Earth in about 17 hours.
    • It affected the telegraph network and many operators experienced electric shocks.
    • A solar storm that occurred in 1921 impacted New York telegraph and railroad systems and another small-scale storm collapsed the power grid in Quebec, Canada in 1989.
    • A 2013 report noted that if a solar storm similar to the 1859 one hit the US today, about 20-40 million people could be without power for 1-2 years, and the total economic cost will be $0.6-2.6 trillion.

    Why are they a cause of concern?

    • The Sun goes through an 11-year cycle – cycles of high and low activity.
    • It also has a longer 100-year cycle.
    • During the last three decades, when the internet infrastructure was booming, it was a low period.
    • And very soon, either in this cycle or the next cycle, we are going towards the peaks of the 100-year cycle.
    • So it is highly likely that we might see one powerful solar storm during our lifetime.

     

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