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Monthly Archives: February 2023

Biodiversity-Act-2002

Biodiversity Act 2002, Salient Features, Objectives, Limitations

Biodiversity Act 2002 The Biodiversity Act of 2002 was enacted by the Indian Parliament to address concerns related to the conservation and sustainable use of India’s rich biodiversity. The Biodiversity Act 2002 came into force on 5th February 2003 and complements the Wildlife Protection Act of 1972. The need for such an Act arose from …

Risk-Proofing Climate Finance

Editorial of the Day: Risk-Proofing Climate Finance (The Hindu Businessline)

RBI’s recent paper on climate risks is an important and timely measure towards achieving awareness regarding climate risk and its systemic implications amongst its regulated entities (REs). Despite the report showing steps taken by various institutions to respond to this challenge, there are other specific areas which the RBI needs to consider: End-use guidance for sustainable …

India’s Defence Budget 2023-24

India’s Defence Budget 2023-24

Context: Finance Minister announced the allocation of Rs 5,935.38 billion to the Ministry of Defence (MoD) in annual budget 2023-24. Highlights of Defence Budget Overall Component of Defence Budget: 2023-24 budget represents a 13-percent increase over the previous year’s allocations. All the three key components of the MoD’s budget—MoD (Civil), Defence Pension, and Defence Services—have …

Black Sea Grain Initiative

Black Sea Grain Initiative

Context: Recently, the Russia said that it would be “inappropriate” to extend the Black Sea grain deal unless sanctions affecting its agricultural exports are lifted and other issues are resolved. What is Black Sea Grain Initiative? Background: Ukraine exports around 45 million tonnes of grain to the global market each year. After the Russian invasion, …

Taxing Windfall Profits

Taxing Windfall Profits

Context: Recently, the Union government hiked the windfall profit tax levied on domestically-produced crude oil as well as on the export of diesel and aviation turbine fuel (ATF). What are Windfall Profits? Windfall profits are sudden and unexpected gains in profit that a company or individual experiences as a result of unforeseen events or circumstances. …

Reform movement in North India

Reform Movement in North India, Dev & Arya Samaj and Objective

Reform Movement in North India Swami Dayanand Saraswati (1824–1833) led the Reform Movement in North India and established the Arya Samaj in 1875. This society worked to eradicate the caste system, rituals, priesthood, idolatry, polytheism, and animal sacrifice. Reform movement in North India is one of the important topics of Modern History; this article has …