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The Hindu Newspaper Analysis 10 October 2022

 

The Hindu Newspaper Analysis for UPSC

India’s net direct tax collections
India’s net direct tax collections

The Hindu Newspaper Analysis 7 October 2022

  • India’s net direct tax collections till October 8 in the financial year 2022-23 have risen to ₹7.45 lakh crore, more than half of the Budget targets, the Union Finance Ministry said on Sunday. It is an increase of 16.3% over the tax inflows during the corresponding period a year ago.
  • Based on provisional data, net personal income tax collections grew 17.35%, rising faster than corporate income tax collections that were up 16.29% net of refunds.
  • Securities Transaction Tax (STT) collections combined with personal income tax receipts, grew at a more moderate 16.25%.

The Hindu Editorial Today

Direct tax?

  • A direct tax is a tax that a person or organization pays directly to the entity that imposed it.
  • An individual taxpayer, for example, pays direct taxes to the government for various purposes, including income tax, real property tax, personal property tax, or taxes on assets.
UN Peacekeeping began in 1948
UN Peacekeeping began in 1948

What is UN Peacekeeping?

  • About:
    • UN Peacekeeping began in 1948 when the UN Security Council authorized the deployment of UN military observers to the Middle East.
    • UN Peacekeeping helps countries navigate the difficult path from conflict to peace.
    • It deploys troops and police from around the world, integrating them with civilian peacekeepers to address a range of mandates set by the UN Security Council (UNSC) and the General Assembly.
  • Composition:
    • UN peacekeepers (often referred to as Blue Berets or Blue Helmets because of their light blue berets or helmets) can include soldiers, police officers, and civilian personnel.
    • Peacekeeping forces are contributed by member states on a voluntary basis.
    • Civilian staff of peace operations are international civil servants, recruited and deployed by the UN Secretariat.
Hanuman Leap
Hanuman Leap
  • The reduction, effected in 2019, lowered the rate for existing companies to 22% from 30% and for new manufacturing companies to 15% from 25%.
  • Private investment accounts for close to 75% of total capital formation in the economy; its revival therefore is essential for sustained growth of the economy.
  • Even the fiscally conservative International Monetary Fund has suggested that public investment can play the role of an engine of growth for the developing economies.
A human hair is 50-180 microns whereas the novel coronavirus is 0.1-0.5 microns.
A human hair is 50-180 microns whereas the novel coronavirus is 0.1-0.5 microns.
  • A human hair is 50-180 microns whereas the novel coronavirus is 0.1-0.5 microns. In comparison, today’s most advanced chips are about half the size of the novel coronavirus in diameter and are shrinking rapidly.
  • Today, critical sectors such as defence, telecom, electronics and mobility are hugely impacted by the chip shortage, which won’t end until 2023, as per research studies.
  • If there ever is a natural disaster in South Korea or Taiwan, it could only worsen the crisis.
  • The U.S., European Union, Japan, India and China have poured in about $200 billion into the semiconductors sector, but the impact of that will not be seen now.
  • The U.S. was ready to defend Taiwan should there be aggression from China probably because no country in the world has the capability to produce chips better and faster than Taiwan (and South Korea) does.
Nobel Prize for Peace
Nobel Prize for Peace
  • By choosing a Belarusian human rights campaigner and two civil liberty-focused organisations from Ukraine and Russia for this year’s Nobel Prize for Peace, the Norwegian Committee has once again offered its redoubtable support for voices that are critical of the authoritarianism and militarism of Moscow and its allies.
  • In 2021, Dmitry Muratov, editor-in-chief of the Russian Novaya Gazeta, one of the few independent newspapers in Vladimir Putin’s Russia, was a co-winner of the Prize for his “efforts to safeguard freedom of expression”.
  • This year, Memorial, an organisation that has been documenting alleged state abuses in Russia since 1987, shared the Prize with Ales Bialiatski, the Belarusian activist, and the Center for Civil Liberties (CCL) in Ukraine.
India’s Presidency of the Group of 20
India’s Presidency of the Group of 20
  • India’s Presidency of the Group of 20, UN Security Council (UNSC) in 2022, and the Shanghai Cooperation Organisation (SCO) in 2023 when major powers are not even talking to each other and India alone, now the fifth largest economy, is interacting with each of them, presents a historic opportunity.
  • India’s Presidential statement could introduce ‘vasudhaiva kutumbakam’ in the UNSC in December. The SCO Summit will precede the G20 Summit and acceptance of overarching principles will support acceptance by the wider G20.
Energy-related inflation across Europe started
Energy-related inflation across Europe started
drastic increase in inflation levels in Europe
drastic increase in inflation levels in Europe
  • Energy-related inflation across Europe started to https://www.mediafire.com/file/fng21srk32eeu69/winter-is-coming8.png rise post the Ukraine invasion and accelerated to over 40% in the recent months
  • The impact of rising energy costs was felt across all European nations.
  • Such a drastic increase in inflation levels in Europe is understandable given the very high levels of dependency on Russian oil.
Indian Navy will also participate
Indian Navy will also participate
  • Japan will host the 2022 edition of the Malabar naval exercise consisting of India, Australia, Japan and the U.S. in the second week of November, according to official sources.
  • The Indian Navy will also participate in the International Fleet Review (IFR) being hosted in the first week of November to commemorate the 70th anniversary of the Japanese Maritime Self Defence Force (JMSDF), an official source said.
  • In October-end, the India-U.S. bilateral Army exercise ‘Yudh Abhyas’.
  • India is currently hosting the multilateral anti-terror exercise ‘Manesar Anti-terror 2022’ under the ambit of the Shanghai Cooperation Organisation (SCO) Regional Anti-Terrorism Structure scheduled from October 8 to 13.

Q) Consider the following statements regarding Negotiable Warehouse Receipts.

  1. It allows transfer of ownership of that commodity stored in a warehouse without having to deliver the physical commodity.
  2. They are issued by registered warehouses and enables farmers to seek loans from banks against NWRs.
  3. It is regulated by APEDA.

Which of the above statements is/are correct?

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

परक्राम्य वेयरहाउस प्राप्तियों के संबंध में निम्नलिखित कथनों पर विचार करें।

  1. यह भौतिक वस्तु को वितरित किए बिना एक गोदाम में संग्रहीत उस वस्तु के स्वामित्व के हस्तांतरण की अनुमति देता है।
  2. वे पंजीकृत गोदामों द्वारा जारी किए जाते हैं और किसानों को एनडब्ल्यूआर के खिलाफ बैंकों से ऋण लेने में सक्षम बनाते हैं।
  3. यह एपीडा द्वारा विनियमित है।

उपरोक्त में से कौन सा/से कथन सही है/हैं?

  1. केवल 2
  2. 1, 2
  3. 2, 3
  4. 1, 3
  • Negotiable warehouse receipt, which was launched in 2011, allows transfer of ownership of that commodity stored in a warehouse without having to deliver the physical commodity. These receipts are issued in negotiable form, making them eligible as collateral for loans.
  • Warehouse receipts are made negotiable under the Warehouse (Development and Regulation) Act, 2007, and regulated by the Warehousing Development and Regulatory Authority (WDRA).
  • NWR are issued by registered warehouses enables farmers to seek loans from banks against NWRs
  • The government has rolled out negotiable warehousing receipts in electronic format that farmers can use to avail of bank credit easily and without fear of losing or misusing it.

Q) With reference to the Competition Commission of India, consider the following statements:

  1. It is statutory body established under the provisions of The Competition Act, 2002.
  2. It consists a Chairperson and 16 Members appointed by the Central Government.

Which of the above statements is/are correct?

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

भारतीय प्रतिस्पर्धा आयोग के संदर्भ में निम्नलिखित कथनों पर विचार कीजिएः

  1. यह प्रतिस्पर्धा अधिनियम, 2002 के प्रावधानों के तहत स्थापित वैधानिक निकाय है।
  2. इसमें केंद्र सरकार द्वारा नियुक्त एक अध्यक्ष और 16 सदस्य होते हैं।

उपरोक्त में से कौन सा/से कथन सही है/हैं?

  1. केवल 1
  2. केवल 2
  3. दोनों 1 और 2
  4. न तो 1 और न ही 2

Explanation :

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman inaugurates Competition Commission of India’s Regional Office (West) in Mumbai.

  • A statutory body established under the provisions of The Competition Act, 2002.
  • Established in: 2003.
  • Composition: A Chairperson and 6 Members appointed by the Central Government.
  • Headquarters: New Delhi.
  • Preceding agency: Monopolies and Restrictive Trade Practices Commission.
  • Mandate: To implement provisions of The Competition Act, 2002 which –
    • prohibits anti-competitive agreements and abuse of dominant position by enterprises
    • regulates mergers and acquisition (M&A) which can have an adverse effect on competition within India. Thus, deals beyond a certain threshold are required to get clearance from CCI.

Q) With reference to the UN Human Rights Council, consider the following statements:

  1. It is an inter-governmental body within the UN system.
  2. It was founded in 2006.

Which of the above statements is/are Incorrect?

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

संयुक्त राष्ट्र मानवाधिकार परिषद के संदर्भ में निम्नलिखित कथनों पर विचार कीजिएः

  1. यह संयुक्त राष्ट्र प्रणाली के भीतर एक अंतर-सरकारी निकाय है।
  2. इसकी स्थापना 2006 में हुई थी।

उपरोक्त में से कौन सा/से कथन गलत है/हैं?

  1. केवल 1
  2. केवल 2
  3. दोनों 1 और 2
  4. न तो 1 और न ही 2

Explanation :

  • India abstained on a draft resolution in the UN Human Rights Council in Geneva on promoting reconciliation, accountability and human rights in Sri Lanka which was adopted.

UN Human Rights Council

  • What is it? It is an inter-governmental body within the UN system.
  • Location: It meets at the UN Office at Geneva.
  • Establishment: It was founded in 2006. It replaced the former United Nations Commission on Human Rights (UNCHR).
  • Functions:
    • It investigates allegations of breaches of human rights in UN member states.
    • It addresses important human rights issues such as freedom of expression, women’s rights, LGBT rights, and the rights of racial and ethnic minorities.
    • The UNHRC works closely with the Office of the High Commissioner for Human Rights (OHCHR).

Q) Which of the following forms the part of Capital Receipts?

  1. Recovery of loans
  2. Sale of shares in Public Sector Undertakings (PSUs)
  3. Fresh loans given by Government.

Which of the statements given above are correct?

  1. 1, 2
  2. 2, 3
  3. 1, 3
  4. 1, 2, 3

निम्नलिखित में से कौन पूंजीगत प्राप्तियों का हिस्सा है?

  1. ऋणों की वसूली
  2. सार्वजनिक क्षेत्र के उपक्रमों (पीएसयू) में शेयरों की बिक्री
  3. सरकार द्वारा दिए गए नए ऋण।

ऊपर दिए गए कथनों में से कौन-से सही हैं?

  1. 1, 2
  2. 2, 3
  3. 1, 3
  4. 1, 2, 3
  • Fresh loans given by Government forms the part of Capital expenditure.
  • Capital Receipts: The government also receives money by way of loans or from the sale of its assets. Loans will have to be returned to the agencies from which they have been borrowed. Thus they create liability. Sale of government assets, like sale of shares in Public Sector Undertakings (PSUs) which is referred to as PSU disinvestment, reduce the total amount of financial assets of the government. All those receipts of the government which create liability or reduce financial assets are termed as capital receipts. When government takes fresh loans it will mean that in future these loans will have to be returned and interest will have to be paid on these loans. Similarly, when government sells an asset, then it means that in future its earnings from that asset, will disappear. Thus, these receipts can be debt creating or non-debt creating.

Capital Receipts (a+b+c) 

(a) Recovery of loans

(b) Other receipts (mainly PSU disinvestment)

(c) Borrowings and other liabilities

Q) Consider the following statements.

1.Import cover is the number of months of imports that could be paid for by a country’s Forex reserves.

2.Import substitution is an inward-looking trade strategy aimed at replacing imports with domestic production.

Which of the above statements is/are correct?

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

निम्नलिखित कथनों पर विचार करें।

1.आयात कवर आयात के महीनों की संख्या है जिसका भुगतान किसी देश के विदेशी मुद्रा भंडार द्वारा किया जा सकता है।

2.आयात प्रतिस्थापन एक अंतर्मुखी व्यापार रणनीति है जिसका उद्देश्य आयातों को घरेलू उत्पादन से बदलना है।

उपरोक्त में से कौन सा/से कथन सही है/हैं?

  1. केवल 1
  2. केवल 2
  3. दोनों 1 और 2
  4. न तो 1 और न ही 2
  • Import cover is the number of months of imports that could be covered for by a country’s international reserves. Import cover is an important indicator of the stability of a currency.
  • ‘Import Substitution’ (IS) generally refers to policy that eliminates the importation of the commodity and allows for the production in the domestic market. The objective of this policy is to bring about structural changes in the economy.

Mains Practice Question:

Q) Can we say Increasing Population is one of the reason for Urban Flooding ? Explain. (150 words)

क्या हम कह सकते हैं कि बढ़ती जनसंख्या शहरी बाढ़ का एक कारण है? समझाना। (150 शब्द)

Introduction:

  • Around the world, cities are expanding rapidly, both in terms of population and footprint. Urbanization and economic development have traditionally gone hand in hand as cities foster ideas, skills, and economies of scale.
  • However, on the downside, rapid urban growth can cause congestion effects; for instance, by increasing exposure to natural hazards and pressure on public services and infrastructure.

Body:

  • Population increase, centralization, and industrialization typically push cities to urban growth. This growth can lead to severe environmental, social, and ecological consequences. Among environmental consequences, floods continue to be a big concern.
  • Urban growth implies a reduction of vegetation and bare lands coverage, an expansion of impervious surfaces, and a reduction in pervious surfaces.
  • Such circumstances hinder groundwater recharge, perturb evapotranspiration losses, and accumulate surface runoff, raising the risk of floods.
  • Climate change, particularly precipitation extremes, is another factor that exposes populations and infrastructure to urban flooding, with a significant impact on poor people, children, and critical infrastructure.
  • Therefore, it is necessary to continually look at the nexus between urban growth, climate change, and flood risk.

Conclusion:

  • While urban growth is essential to meeting the population’s needs, there is need of shifting towards a more resilient integrated urban design based on evading the impact of climate change and alleviating flood risk.
  • An integrated urban design must increase spaces that limit floods and enable more precipitation to recharge aquifers.

Mains Practice Question:

Q) Explain how do subsidies affect the cropping pattern, crop diversity and economy of farmers? (150 words)

बताएं कि सब्सिडी फसल पैटर्न, फसल विविधता और किसानों की अर्थव्यवस्था को कैसे प्रभावित करती है? (150 शब्द)

The Hindu Newspaper Analysis 11 October 2022

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