Highlights|UPSC Exam Current Affairs 21-09-2019
Current Affairs and News (21-09-2019)- The following article contains all the updated events and news for IAS Preparation. Our daily IAS Current Affairs and News cover the most important topics to give precise information to the reader and IAS Aspirants.
- Climate movements
- Pradhan Mantri Matru Vandana Yojana (PMMVY)
- National Recruitment Agency
- Lotus Tower
- Wawe Summit 2019
- Parliamentary Budget Office a need for an hour
- Finance Minister cuts corporate taxes
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UPSC Exam Current Affairs 21-09-2019 are followed in the part below:
UPSC Exam Current Affairs and News Analysis (21-09-2019)
Climate movements
Part of: GS Prelims and GS-III – Environment Conservation
In News
- Understudies in excess of 2,000 urban communities over the world are holding exhibits under the #FridaysforFuture development, fighting inaction towards environmental change.
- Otherwise called the Youth Strike for Climate Movement, it began in August 2018 after Greta Thunberg (16-year-old understudy) sat outside the Swedish parliament for three weeks to challenge inaction towards environmental change and called for solid government activity.
- At that point in September 2018, Thunberg required a strike each Friday until the Swedish parliament reconsidered its approaches towards environmental change.
- The development before long spread to different nations which transformed into a worldwide development upheld by Civil Society activists and Scientists.
- Understudies are fighting since they are the ones who will be enduring the worst part of Climate change in the coming decades and the administrations keep on depending on petroleum derivatives.
- In the present period of the strikes, understudies are requesting “earnest” and “definitive” activity so as to prevent worldwide normal temperatures from transcending 1.5 degree Celsius.
- Additionally, a huge number of grown-ups will go along with them in the Global #ClimateStrike development, which will start similarly as the UN Climate Action Summit 2019 is set to occur in New York on September 23.
Pradhan Mantri Matru Vandana Yojana (PMMVY)
Part of: GS Prelims and Mains GS-I – Women
In News
- PMMVY has accomplished a noteworthy achievement by intersection one crore recipients.
- The aggregate sum dispensed to the recipients under the plan has crossed Rs. 4,000 crores.
- It is an immediate advantage move (DBT) schemeunder which money benefits are given to pregnant ladies in their financial balance legitimately to meet improved nourishing needs and halfway make up for wage misfortune
- Under the ‘Plan’, Pregnant Women and Lactating Mothers (PW&LM) get a money advantage of Rs. 5,000 out of three portions on satisfying the particular restriction, viz. early enlistment of pregnancy, bet natal registration and enrollment of the introduction of the kid and finish of first cycle of immunization for the principal living offspring of the family.
- The plan was propelled in 2017 as Centrally SponsoredScheme and actualized by Ministry of Women and Child Development
- Madhya Pradesh, Andhra Pradesh, Himachal Pradesh, Dadra and Nagar Haveli and Rajasthan are the main five States and UT in the nation in execution of the plan. Odisha and Telangana are yet to begin execution of the plan.
National Recruitment Agency
Part of: GS Prelims and Mains GS-II -Governance
In News
- Money Ministry has endorsed the proposition for formation of a NRA to streamline enrollment procedure of Group-B (non-gazetted), Group-C (non-specialized) and administrative posts in the legislature alongside different proportional enlistment in PSB.
- It will be set up to direct the Common Eligibility Test (CET) for all these focused assessments, where an expected 2.5 crore competitors show up every year.
- NRA will direct starter assessments for all these enlistment, which are at present led by the Staff Selection Commission (SSC) and the Institute of Banking Personnel Selection (IBPS)
- The SSC and IBPS won’t be disbanded for the time being and will direct the mains assessments obviously.
- NRA is hence expected to lessen the weight on SSC and IBPS whereby NRA will fill in as a primer single-window office to waitlist qualifying up-and-comers.
Lotus Tower
Part of: GS Prelims
In News
Sri Lanka uncovers South Asia’s tallest zenith (called Lotus Tower) in Colombo
- It is 350-meter-tall and looking like Lotus
- It involves a lodging, a TV tower, cafés, a shopping center, a media communications exhibition hall, and assembly room.
- The pinnacle, which is relied upon to work as Sri Lanka’s ‘advanced TV tower’, is worked with fiber optic links and is completely furnished with fundamental media transmission hardware.
- The pinnacle costs more than $100 million. The 80% of expenses brought about has been supported by China added to the dubious Repertoire and Road Initiative(BRI).
Wawe Summit 2019
Part of: GS Prelims
In News
- Association Human Resource Development Minister has propelled the Waste Management Accelerator for Aspiring Women Entrepreneurs (WAWE Summit 2019).
- The summit will be the biggest social event of young ladies understudies who will advance business enterprise in squander the board and give choices to single-utilize plastic convey packs
- It is sorted out by the All India Council for Technical Education (AICTE) and Institute of Waste Management(IIWM) at Jaipur.
- Topic of summit: “Make your own pack – engaging ladies to take up pay age movement and enterprise in squander the executives, through making a business out of this record-making idea.”
- AICTE is the statutory body answerable for appropriate arranging and facilitated improvement of the specialized training and the board instruction framework in India.
- AICTE works under Department of Higher Education, Ministry of Human Resource Development.
(MAINS FOCUS)
ECONOMY
TOPIC: General Studies 3:
- Government Budgeting
Parliamentary Budget Office a need for an hour
Parliamentary Budget Office:
- A PBO is a free and unprejudiced body connected legitimately to Parliament.
- It gives specialized and target investigation of Budgets and open account to the House and its boards of trustees.
- It can produce quality open discussion on Budget arrangement and open account, empowering parliamentarians to connect genuinely in the Budget procedure.
- Customarily, autonomous budgetary units are progressively basic in created nations.
Need for PBO:
- Official drove budgetary administration has not been effective in India.
- To do the capacities viably, Parliament requires institutional, expository and specialized skill.
- There is a developing pattern among assemblies, especially inside the OECD nations to build up particular Budget inquire about units.
Function of PBOs across the world:
- Autonomous and objective financial gauge.
- Benchmark gauge review.
- Dissecting the official’s Budget proposition.
- Giving medium-to long haul investigation
What is to be done?
- The body should be designated not founded on political loyalty or convenience, however on its skill in budgetary, financial and monetary issues.
- This body must serve parliamentarians similarly and without bias.
- These bodies must assistance shape the discussion and talk around the condition of the country’s accounts and the financial ramifications of critical recommendations.
Crux:
- What is gravely in peril is proof based talk around significant strategies that influence the direction of our Republic, exchanges which can rapidly obscure the line among reality and fiction.
Model: The Rafale manage Dassault Aviation. Some portion of the debate came about because of vulnerability with respect to the genuine lifecycle expenses of the flying machine purchased. In 2011, the Canadian PBO discharged a cost gauge for Canada’s acquisition of F-35 planes. This gauge far surpassed the one exhibited by the Department of National Defense.
Working of PBOs:
- It is regularly the situation that monetary and financial projections of a PBO and the Ministry of Finance are comparable. This is obvious as information sources and financial philosophies for such projections are settled and uniform.
- without the presence of another information point l created by an autonomous, non-divided office, (PBO)it is hard for parliamentarians to guarantee that these projections and appraisals keep on being dependable enough for them to settle on choices on.
- At the point when these projections come into question, the Cabinet can tap the common assistance for further research and examination.
- Most parliamentarians don’t have this extravagance and may need to depend on low quality outsider information and examination, managed without significant mastery. This is a circumstance that must be stayed away from.
AG vs PBO :
- Reviewer general performs, which is to give review reviews and examination of the money related records and execution of government tasks.
- A PBO gives imminent, forward-looking monetary and financial projections, just as arrangement costings.
International examples:
- Congressional Budget Office in the United States ,Offices in the Netherlands, Korea, Australia and the United Kingdom.
- In a portion of these nations PBOs give free cost evaluations of discretionary stage measures to ideological groups.
Conclusions:
- The measure of data parliamentarians need to investigate in Budget reports has exponentially expanded and a PBO would help parliamentarians in this procedure of examination.
- India’s Parliament and government need to work rapidly and vigorously to set up such an office; it is to everybody’s greatest advantage to do as such.
- As the procedure toward the Union Budget 2020 has just commenced, it would be judicious for parliamentarians to inspect the case for a PBO all the more profoundly.
Connecting the dots:
- Lawmaking bodies over the world have seen an undeniably more grounded official attempt to wrest away its legitimate intensity of the satchel. A PBO would help revive these forces that have fallen into neglect.
ECONOMY
TOPIC: General Studies 3:
- Effects of liberalization on the economy, changes in industrial policy and their effects on industrial growth.
- Infrastructure: Energy, Ports, Roads, Airports, Railways etc.
- Investment models.
Finance Minister cuts corporate taxes
Context:
Account Minister Nirmala Sitharaman cuts corporate expenses for residential, new assembling organizations
How much?
- Corporate expense rate has been sliced to 22% from 30% for organizations that don’t benefit exceptions — this implies the viable assessment rate for such organizations will tumble from 34.94% directly to 25.17%
- organizations settling on 22 percent annual assessment section would not need to make good on least elective duty (MAT).
- The legislature has additionally chosen to not impose improved extra charge presented in Budget on capital increase emerging from the closeout of value partakes in an organization obligated for protections exchange charge (STT).
- Auto firms hoping to make in India should pay an even lower charge pace of 15%, if they start by 31 March 2023.
Why?
- The thought behind this move is clearly to create private speculation which is presently at a low ebb, and furthermore be to pull in remote financial specialists searching for elective locales for their worldwide worth chains upset now by the duty war among China and the U.S. With these cuts, the legislature has conveyed on a long-standing interest of Corporate India.
Positive impacts:
- Assessment concessions will acquire speculations Make in India, help business and monetary action, prompting more income
- The new corporate tax breaks are required to help monetary development, which slipped to a six-year low of 5% in the April-June quarter.
- Vehicle costs may descend essentially following cut in corporate duty.
Negative impacts:
- Income inescapable on decrease in corporate duty and other alleviation estimates will be Rs 1.45 lakh crore yearly.
- This is exceptionally huge, particularly with regards to the over-estimation of incomes in the Budget and the under-execution as far as expense assortments so far this year
- The shortage focus of 3.3% for this financial is unattainable, as things stand.
Minimum alternative tax (MAT):
- Organizations attempt to limit giving duties by exploiting devaluation, reasonings, exclusions, and so on from the administration. So the administration forces a Minimum Alternate Tax or MAT as a development charge on these organizations. This makes the organizations give in any event a base measure of assessment.
- In India MAT is imposed under Section 115JB of the Income Tax Act, 1961.
Conclusion:
- The onus is currently in passing on the advantage of drop assesses down the chain to shoppers and speculators.
- The one course open to the administration is to pull out all the stops on disinvestment where it has just planned Rs 1,05,000 crore during the current year
- The corporate tax reductions are absolutely useful for the economy in the medium term however for the time being, until incomes skip back, the legislature has a monetary issue on its hands.
Connecting the dots:
- Tax breaks have enthused Corporate India, however there is the monetary issue to manage. Clarify.
(TEST YOUR KNOWLEDGE)
Model questions: (You can now post your answers in comment section)
Q.1) Pradhan Mantri Matru Vandana Yojana is being implemented by which Ministry?
- Ministry of Health
- Ministry of Finance
- Ministry of Women and Child Development
- None of the above
Q.2) “Fridays for Future” movement often seen in news is related to which of the following areas?
- Awareness about ill-effects of alcoholism
- Wage parity between men and women employees
- Students protesting for action by government towards Climate change
- None of the above
Q.3) Which of the following are the objectives of setting National Recruitment Agency
- To streamline recruitment process on subordinate-rank posts in the government.
- To reduce the burden of SSC and the IBPS, among others, from holding preliminary recruitment exams, which is an extensive exercise.
Select the correct answer from the codes given below.
- 1 only
- 2 only
- Both 1 and 2
- Neither 1 nor 2
Q.4) Consider the following statements about Lotus Tower
- It is South Asia’s tallest tower located in Thailand
- It has been funded by China under the Belt and Road Initiative (BRI).
Which of the statement(s) given above is/are correct?
- 1 only
- 2 only
- Both 1 and 2
- Neither 1 nor 2
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