Context: India’s Financial Intelligence Unit has issued show-cause notices to nine offshore crypto-currency operators, including Binance, for not complying with the Prevention of Money Laundering Act, 2002 (PMLA).
News:
Virtual Digital Asset Service Providers (VDA SPs)
The Financial Intelligence Unit (FIU)
It is an independent body that directly reports to the Economic Intelligence Council (EIC), chaired by the Finance Minister.
Prevention of Money Laundering Act (PMLA)
The Prevention of Money Laundering Act (PMLA), passed in 2002 in India, establishes a legal framework to prevent money laundering and ensure alignment with international standards for combating financial crimes.
Key Features of PMLA Act 2002:
Context: The Centre has appointed Arvind Panagariya, a renowned trade economist and former Niti Aayog vice chairman, as the chairman of the Sixteenth Finance Commission.
About Finance Commission
Constitutional provisions:
Functions:
Members of Finance Commission
Challenges of 16th Finance Commission:
Context: U.S. Navy helicopters sank three vessels operated by Yemen’s Iran-backed Houthi rebels that had attacked a container ship in the Red Sea, the military said on Sunday.
News:
About:
Maersk Hangzhou, a Singapore-flagged and Denmark-owned and -operated container ship, came under attack for a second time in 24 hours while transiting the Red Sea.
Who is attacking ships in the Red Sea
Since December 15th, four of the most significant container-shipping firms globally—CMA CGM, Hapag-Lloyd, Maersk, and MSC—have halted their operations in the Red Sea due to assaults on commercial vessels by Yemen's Houthi militants, who are backed by Iran.
Reasons of attacks:
The Houthi attacks on ships in the Red Sea have potential implications and impacts:
1. Risk of Military Escalation in the Middle East:
2. Impact on Egypt:
3. Economic Impacts:
4. Short-term Supply-chain Threats:
Context: Recent studies by NITI Aayog show that the levy of 20-30% health tax on food high in sugar, salt, and fat. The study by Niti Aayog, studied the impact of imposing health taxes and warning labels on food products to encourage healthy eating practices.
About NITI Aayog:
Objectives:
Salient Features:
Structure:
Functions and Activities:
NITI Aayog's activities encompass four main areas:
Taxation on High Fat Sugar Salt (HFSS) Foods:
Definition of HFSS Foods:
As per the Ministry of Women and Child Development, High Fat Sugar Salt (HFSS) foods encompass any packaged or non-packaged food or drink. These items are characterized by low levels of proteins, vitamins, phytochemicals, minerals, and dietary fiber, while being high in fat (saturated fatty acids), salt, sugar, and overall energy (calories). Regular or excessive consumption of these foods is known to have adverse effects on health.
Recommendations by WHO and ICRIER:
The World Health Organization (WHO) and the Indian Council for Research on International Economic Relations (ICRIER) advocate that the Food Safety and Standards Authority of India (FSSAI) should clearly delineate High Fat Sugar Salt foods, ensuring transparency. They propose the adoption of a nutrient-based tax model.
Reasons for Taxation on HFSS Foods:
Benefits of Taxing HFSS Foods:
Context: Recently, Small finance bank (SFB) campaigns were launched.The initiative aims to showcase the achievements of Small Finance Banks (SFBs) in terms of their business models to various stakeholders.
About Small Finance Bank (SFB):
Small Finance Banks are financial institutions dedicated to providing financial services in regions that are underserved and unbanked.
Eligibility Criteria:
Functions:
Context: The Supreme Court has struck down the Gujarat government’s remission orders that allowed the early release of 11 men convicted in the Bilkis Bano gangrape case of 2002. A Bench of Justices B V Nagarathna and Ujjal Bhuyan on Monday (January 8) said the Gujarat government’s August 10, 2022 decision to remit the convicts’ sentences was “illegal”.
Background:
The Bilkis Bano case is related to the gang-rape of a 21-year-old Muslim woman, Bilkis Bano, during the communal riots that broke out in Gujarat in 2002.She was five months pregnant at the time of the incident. The case has been marked by several key milestones and controversies, including the conviction of 11 accused, their release on remission, and challenges to the premature release in the Supreme Court
Trial and Conviction:
Premature Release and Challenges:
On what grounds did the Supreme Court strike down the remission given by the Gujarat government in 2022?
Can the convicts apply for remission again? If so, before whom, and under what rules?
After the remission has been quashed, should the convicts be sent back to prison, or given the benefit of liberty?
Despite the careful consideration, the court concluded that the rule of law must take precedence over individual liberty.Consequently, the court decided to set aside the remission orders under scrutiny, leading to the natural consequence of the convicts being directed to report to the relevant jail authorities.
Recently, Prime Minister of India took part in cleaning the Kalaram temple premises under the ‘Swachh Bharat Abhiyan’ campaign.
Panchavati, whose comes from the existence of 5 banyan trees in the area. It was a part of Dandakaranya (dense forest in central India). According to Ramayanam, Lord Ram, Sita, and Lakshman set up a hut here as the presence of 5 banyan trees made this region auspicious.
Bhavarth Ramayana, written in Marathi, by Sant Eknath.
Nashik Satyagraha in 1930
In 1927, Ambedkar had launched Mahad or Chavdar Tale satyagraha to assert the rights of Dalits to use the water in public places.
India is poised to become the world’s largest producer of lentils (masoor) in the 2023-24 crop year due to increased acreage.
Lentils |
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Lentil Production in India has tapered since 2017-18 when the country recorded its highest output of 1.62 million tonne. But Indian government had increased the MSP of lentils to Rs 6,425 per quintal for the Rabi Marketing Season 2024-25 from the Rs 2,950 per quintal in 2014-15.
Recent facts:
Importance of pulse production for India:
The major factors responsible for the stagnation in Pulses are:
Policy factors:
Demand factor:
Infrastructure factors:
Other factors:
Government Initiatives:
Measures that can be taken to improve pulse production:
Short-term Strategies
Medium-term Strategies
Long-term Strategies
Over 10,000 kg of poppy straw, under the cover of cattle feed, has been seized by the Central Bureau of Narcotics in the last 1 year.
India is one of the few countries that legally cultivate opium poppy and is the only country on earth that illicitly produces opium gum.
India is a signatory to the single Convention on Narcotic Drugs 1961, as amended by the 1972 Protocol, the Conventions on Psychotropic Substances, 1971 and the United Nations Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances, 1988.
On 12th August 2011, the NMCG was listed as a society under the Societies Registration Act, 1860. It acted as the implementation arm of the National Ganga River Basin Authority (NGRBA) which was constituted under the provisions of the Environment (Protection) Act (EPA),1986.
NGRBA was dissolved in 2016 and replaced by the National Council for Rejuvenation, Protection, and Management of River Ganga.
Objective: The objective of the NMCG is to reduce pollution and ensure the rejuvenation of the Ganga River.Namami Gange is one of the Coveted Programmes of NMCG to clean Ganga.
This can be achieved by promoting intersectoral coordination for comprehensive planning & management and maintaining minimum ecological flow in the river, with the aim of ensuring water quality and environmentally sustainable development.
Organization Structure: The Act envisages a five-tier structure at the national, state, and district levels to take measures for prevention, control, and abatement of environmental pollution in river Ganga as below:
Vision – To ensure Aviral Dhara (Continuous Flow), Nirmal Dhara (Unpolluted Flow), Geologic and ecological integrity. Operation – The implementation arm of National Ganga Council since 2016.
Key functions – Implement the work programme of National Ganga River Basin Authority (NGRBA) and the World Bank supported National Ganga River Basin Project.
New Provisions – NMCG may now permit the discharge of treated sewage and effluent that conforms to the prescribed “norms” into the river, canal or water bodies. Recent activities of NMCG in 2023 – It has organised the 8th India Water Impact Summit (IWIS) and Driving Holistic Action for Urban Rivers (DHARA) Conference.
Role of EPA, 1986 in protecting River Ganga
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Achievements
In the last seven years, while some progress has been made by India’s National Mission for Clean Ganga (NMCG), there are still significant challenges ahead in achieving the mission's goals.
Initiatives Related to Ganga?
The Pench Tiger Reserve in Maharashtra has been designated as India's first Dark Sky Park and the fifth in Asia, protecting the night sky and preventing light pollution.
India’s First Dark Sky Park
Pench Tiger Reserve (PTR)
Location: The Reserve is located in the southern reaches of the Satpura hills in the Seoni and Chhindwara districts in Madhya Pradesh and continues in Nagpur district in Maharashtra as a separate Sanctuary.
Terrain: It is undulating, with most of the area covered by small hills and steep slopes on the sides.
Vegetation: The undulating topography supports a mosaic of vegetation ranging from a moist sheltered valley to an open, dry deciduous forest.
Flora: The reserve boasts a diverse range of flora, including teak, saag, mahua, and various grasses and shrubs.
Fauna:
It is a full-scale aircraft to demonstrate a new method of flight control that uses no external moving parts.
The star’s powerful gravitational tidal forces altered the planet’s shape, making it more oblong-shaped.
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We provide offline, online and recorded lectures in the same amount.
Every aspirant is unique and the mentoring is customised according to the strengths and weaknesses of the aspirant.
In every Lecture. Director Sir will provide conceptual understanding with around 800 Mindmaps.
We provide you the best and Comprehensive content which comes directly or indirectly in UPSC Exam.