08-April-2024-Daily-Current-Affairs

 MSMES PURSUE GST REFORMS WITH CANDIDATES

TOPIC: (GS3) INDIAN ECONOMY – SOURCE: THE HINDU

Over six years have passed since the implementation of the Goods and Services Tax (GST), yet the matter continues to spark disagreement within various MSME (micro, small, and medium enterprises) hubs across the nation, including those in Tamil Nadu.

The reduction of GST rates stands as a central demand voiced by MSME representatives, especially as the country prepares for the Lok Sabha election.

Challenges faced by MSMEs regarding GST

Complexity of GST:

• Many MSMEs lack resources and understanding of GST due to their small-scale operations, leading to compliance issues.
• Single person run units face challenges in navigating the complexities of GST requirements.

Impact on Business:

• MSMEs supplying to larger, GST-registered industries face pressure to meet documentation requirements, affecting their business.
• Units unable to comply with GST regulations risk losing business opportunities.

Demands for Rate Reduction:

• MSME clusters across India demand reduction in GST rates to ease financial burdens.
• Specific demands include reduction of GST on labour charges in engineering sectors and pending refunds for textile units.

Coimbatore Cluster’s Demand:

• Coimbatore’s MSMEs seek reduction of GST on labour charges from 12% to either 5% or nil to enhance competitiveness.
• Despite earlier promises of rate reduction, there’s no indication of such action from the government.

Ludhiana Cluster’s Concerns:

• Auto component units in Ludhiana face 28% tax rates, impacting their competitiveness in the spares market.
• Lack of input tax credit for these units increases costs and liquidity issues, affecting business transparency.

Political Demands and Expectations:

• MSME associations urge political parties to prioritize MSME issues in their election manifestos.
• Calls for political intervention to address GST-related challenges and support MSMEs in sustaining their businesses.

Multiple choice question:

1. Which of the following items are exempted from the Goods and Services Tax (GST)?
2. Only hulled cereal grains.
3. Cooked chicken eggs and processed/canned fish,
4. Hulled cereal grains, cooked chicken eggs, and newspapers containing advertising material.
5. Hulled cereal grains, cooked chicken eggs, processed/canned fish, and newspapers containing advertising material.

SHAPING INDIA’S PATH TO INCLUSIVE HEALTH CARE

TOPIC: (GS3) INDIAN ENCOMY – SOURCE: THE HINDU

World Health Day on April 7 emphasizes health equity, ensuring every person’s equal opportunity to attain optimal health.

• Health equity involves addressing socioeconomic factors impacting health outcomes, going beyond mere access to healthcare.

Challenges in Achieving Health Equity in India:

• India faces persistent obstacles including disparities in healthcare access and outcomes across regions, castes, and genders.
• Urban slums exhibit serious health disparities due to overcrowding, poor sanitation, and limited access to clean water.
• Scheduled Castes and Tribes experience higher child mortality and lower immunization rates, while women in low wealth quintiles suffer from higher rates of anaemia.

Impact of Non-Communicable Diseases (NCDs):

• NCDs account for a significant portion of fatalities in India, posing a major health challenge.
• Economic costs of NCDs are projected to exceed $6 trillion by 2030, highlighting the urgency for equitable treatment access and preventive healthcare.

Healthcare Infrastructure and Human Resources:

• India faces a critical shortage of doctors, particularly in rural areas, with only 0.8 doctors per 1,000 people.
• Initiatives like Ayushman Bharat and the National Health Mission aim to reduce disparities by expanding access and providing essential services to vulnerable populations.

Role of Government and Stakeholders:

• Government policies like Ayushman Bharat demonstrate a commitment to reducing health disparities through free health coverage for economically disadvantaged populations.
• Stakeholders including civil society, NGOs, international organizations, and the private sector collaborate to address regional health concerns and enhance healthcare accessibility.

Importance of Collaboration and Innovation:

• Effective collaboration among policymakers, grassroots organizations, and international institutions is essential for achieving health equity.
• Innovation and technological advancements, particularly in digital health, contribute to improving accessibility and affordability of healthcare services.

Community Empowerment and Education:

• Health literacy initiatives, integrated within healthcare programs, empower individuals to seek equitable care and make informed health decisions.
• NGOs and community-based organizations play a crucial role in direct community outreach and addressing regional health challenges.

Way forward for India’s health sector

• India’s healthcare spending at 3.6% of GDP is comparatively low.
• Need to boost public spending to improve healthcare infrastructure and services.
• Invest in building and upgrading hospitals, clinics, and research facilities.
• Enhanced infrastructure can accommodate increasing healthcare demands.
• Enhance medical education and training initiatives.
• Ensuring a competent workforce is essential for delivering quality healthcare services.

OVER 73,000 APPLICATIONS HAVE BEEN RECEIVED ON THE SUVIDHA PORTAL SINCE THE ANNOUNCEMENT OF GENERAL ELECTIONS 2024.

TOPIC: (GS2) POLITY AND GOVERNANCE– SOURCE: PIB

Suvidha Portal is a technological solution developed by the Election Commission of India (ECI) to ensure fair and transparent elections.

• It streamlines the process of obtaining and acting upon requests for permissions and facilities from political parties and candidates during the election period.

Operational Statistics:

• Within 20 days of the announcement of elections and the enforcement of the Model Code of Conduct (MCC), Suvidha received 73,379 permission requests.
• 60% of these requests (44,626) were approved, with 15% (11,200) rejected and 10,819 cancelled due to invalidity or duplication.

Geographic Distribution of Requests:

• Maximum requests came from Tamil Nadu (23,239), followed by West Bengal (11,976) and Madhya Pradesh (10,636).
• Minimum requests were received from Chandigarh (17), Lakshadweep (18), and Manipur (20).

Functionality of Suvidha Portal:

• Suvidha caters to a range of permission requests transparently, following the First in First Out principle.
• Permissions include organizing rallies, opening temporary party offices, door-to-door canvassing, using video vans and helicopters, obtaining vehicle permits, and distributing pamphlets.

 Access and Tracking:

• Suvidha Portal is accessible online (https://suvidha.eci.gov.in), allowing seamless submission of permission requests.
• Offline submission options ensure inclusivity.
• A companion app enables real-time tracking of request status on IoS and Android platforms.

Transparency and Accountability:

• It provides real-time tracking, status updates, timestamped submissions, and communication via SMS.
• Permission data aids in scrutinizing election expenditures, enhancing accountability and integrity in the electoral process.

The Suvidha Platform reflects ECI’s commitment to facilitating fair, efficient, and transparent elections, ensuring equal access to permissions for all political parties and candidates.

Multiple choice question:

1. Which of the following statements regarding Election Commissioners is/are correct?
2. The Chief Election Commissioner can be dismissed via impeachment proceedings initiated by Parliament.
3. All Election Commissioners have equal say in the decision-making of the Commission.

Select the correct option:

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

WAYWARD ELEPHANT

TOPIC: (GS3) INDIAN ENCOMY – SOURCE: THE HINDU

The RBI’s Monetary Policy Committee (MPC) kept the policy repo rate unchanged at 6.5% to address food price pressures and maintain price stability.

Concerns Over Inflation:

• Headline inflation has exceeded the RBI’s 4% target for 53 consecutive months, posing challenges to economic stability.
• MPC emphasizes the need for inflation to moderate and align with the target consistently.

Economic Growth Outlook:

• Despite inflation concerns, MPC is confident about economic growth, projecting a 7% GDP expansion for the year through March 2025.
• Factors such as normal monsoon, growth in manufacturing and services sectors, and improving consumer confidence contribute to growth expectations.

Importance of Price Stability:

• Price stability ensures economic stability and facilitates sustainable growth.
• Sticky inflation affects discretionary spending and leads to increased personal loans for essential expenditure.
• Maintaining price stability is crucial to prevent inflationary pressures and sustain economic momentum.

CORE INFLATION:

• Tracks changes in costs excluding food and energy prices due to their volatility.
• Represents the long-term price trend by focusing on underlying inflationary pressures.

HEADLINE INFLATION:

• Represents total inflation, including food and energy prices.
• Derived from raw inflation figures reported through indices like CPI, offering a comprehensive view of price movements in the economy.

Multiple choice question:

1. In the context of the Indian economy, which of the following components are associated with Monetary Policy?
   1. Bank rate.
   2. Open Market Operations
   3. Public debt
   4. Public revenue

Select the correct option:

1. A only
2. B, C, and D
3. A and B
4. A, C, and D

NATO

TOPIC: (GS2) INTERNATIONAL RELATIONS– SOURCE: INDIAN EXPRESS

NATO Foreign Ministers recently gathered at NATO Headquarters to commemorate 75 years since the signing of the Washington Treaty, also known as the North Atlantic Treaty.

• The Washington Treaty, signed on April 4, 1949, involved 12 founding members.
• It is the foundation of the North Atlantic Treaty Organization (NATO), a key international security alliance.
• The treaty is based on Article 51 of the United Nations Charter, which upholds the right of independent states to individual or collective defence.
• Article 5 of the treaty emphasizes collective defence, requiring member states to come to each other’s aid if one is attacked, fostering solidarity within the Alliance.
• Despite the evolving security landscape, the original treaty has remained unchanged, demonstrating its adaptability and relevance.
• With only 14 articles, the treaty allows for flexibility in its implementation, tailored to each member’s capabilities and circumstances.

The Washington Treaty has proven to be a resilient and effective framework for maintaining peace and security among its member states.

RBI RETAIL DIRECT SCHEME

TOPIC: (GS3) ECONOMICS – SOURCE: THE HINDU

Launched in November 2021, the RBI Retail Direct Scheme offers individual investors an opportunity to maintain gilt accounts with the Reserve Bank of India (RBI) and invest in government securities.

Key Features of RBI Retail Direct Scheme:

• Access to Government Securities: Investors can participate in primary auctions and trade government securities through the NDS-OM platform.
• NDS-OM Platform: The Negotiated Dealing System – Order Matching system is an electronic platform for trading government securities in the secondary market.
• The scheme provides facilities such as opening and maintaining a ‘Retail Direct Gilt Account,’ accessing primary issuance of government securities, and utilizing the NDS-OM platform.

Eligibility Criteria:

• Eligible investors must have a rupee savings bank account in India.
• Investors need to provide PAN card and any officially valid document for KYC purposes.
• A valid email ID and registered mobile number are required for registration.

Transaction Payments:

Investors can conveniently make payments for transactions using their savings bank account through internet banking or Unified Payments Interface (UPI).
GOVERNMENT SECURITIES IN INDIA

Treasury Bills (T-bills)

• Short-term government securities with maturity periods of 91 days, 182 days, or 364 days.
• Issued at a discount and redeemed at face value without interest payments.
• Auctioned weekly by the Reserve Bank of India (RBI).

Cash Management Bills (CMBs)

• Introduced in 2010 to fulfill short-term cash flow requirements.
• Similar to T-bills but with maturity periods less than 91 days.
• Offered by the government of India and RBI.

Dated Government Securities

• Long-term market instruments with fixed or floating interest rates.
• Offered in tenures ranging from 5 to 40 years.
• Examples include Floating Rate Bonds, Fixed Rate Bonds, and Inflation Indexed Bonds.

State Development Loans (SDLs)

• Issued by state governments to meet budget requirements.
• Auctioned every two weeks with varied interest rates compared to central government securities.
• Support a range of investment tenures.

Zero-Coupon Bonds

• Issued at a discount, redeemed at face value without interest.
• No periodic interest payments.

THE SOUTHERN OCEAN: EARTH’S CLEAN AIR HAVEN

TOPIC: (GS1) GEOGRAPHY– SOURCE: THE HINDU

Formation and Geography:

Formed approximately 34 million years ago due to the separation of Antarctica and South America, creating the Drake Passage.

• Comprises the oceanic area south of the Pacific, Atlantic, and Indian Oceans, encircling Antarctica below 60° S.
• Known for extreme weather conditions including strong winds, intense storms, and cold temperatures.

Ocean Dynamics:

• Dominated by the Antarctic Circumpolar Current (ACC), the longest and strongest current on Earth.
• ACC flows clockwise around Antarctica, carrying a vast amount of water globally.
• Plays a crucial role in regulating global climate and oceanic circulation patterns.

Biodiversity:

• Supports diverse marine life, with rich phytoplankton from the Antarctic Convergence sustaining ecosystems.
• Home to various species including whales, penguins, orcas, and seals.
• Considered a vital habitat for numerous endemic and migratory species, contributing to global biodiversity.

AZAD HIND GOVERNMENT

TOPIC: (GS1) MODERN HISTORY– SOURCE: THE HINDU

Established by Netaji Subhas Chandra Bose on October 21, 1943, in Singapore.

• Bose served as the Head of State, Prime Minister, and Minister of War.

Key Figures:

• Captain Lakshmi led the women’s organization.
• SA Ayer headed the publicity wing.
• Revolutionary leader Ras Behari Bose acted as the supreme adviser.

Support and Significance:

• Backed by Axis powers including Imperial Japan, Nazi Germany, and the Italian Social Republic.
• Proclaimed authority over Indian civilian and military personnel in Southeast Asian British colonial territories.
• Facilitated negotiations with Japan and mobilization of Indians to support the Indian National Army (INA).

Achievements and Initiatives

• Established own bank, currency, civil code, and stamps.
• Formed the Rani Jhansi Regiment, the first women’s regiment of the INA, promoting gender equality in armed forces.
• Operated in Japanese-occupied Andaman and Nicobar Islands, fostering regional governance and resistance against British rule.

Multiple choice question:

1. Which of the following statements regarding the INA trials are correct?
   1. The captured soldiers of INA were treated as POW (prisoners of war) depriving them of many legal benefits.
   2. Cities and towns were the main nerve centers of agitation against INA trials.
   3. The INA trials were held in the Red Fort.
   4. Prem Kumar Sehgal, Shah Nawaz Khan, and Gurubaksh Singh Dhillon were the first INA prisoners to face the trial.

Select the correct option:

1. A only
2. B, C, and D
3. A, C, and D
4. All of the above