22-April-2024-Daily-Current-Affairs

NET DIRECT TAX COLLECTIONS EXCEED 2023-24 TARGET 

TOPIC: (GS3) ECONOMY – SOURCE: THE HINDU 

In 2023-24, India’s net direct tax collections increased by 17.7% to ₹19.58 lakh crore. This growth was mainly driven by a rise in personal income tax, which made up 53.3% of the total tax collected, up from 50.06% in the previous year. 

Factors Driving the Increase: 

• The surge in net tax collections towards the end of the financial year was driven by personal income tax (PIT) and securities transaction tax (STT) collections. 
• PIT and STT receipts grew at nearly double the rate of corporate taxes. 

Trends in Corporate Tax Collections: 

• Gross corporate tax collections increased, but net tax receipts from corporates dropped slightly after adjusting for refunds. 

Overall Growth in Gross Direct Tax Collection: 

• The gross direct tax kitty for 2023-24 stood at ₹23.37 lakh crore, reflecting an 18.5% growth over the previous year. 

DIRECT TAX: 

Definition: Taxes levied directly on individuals and entities by the government. Cannot be shifted to others. 

Examples: 

• Personal Income Tax 
• Corporate Tax 
• Capital Gains Tax 
• Wealth Tax 

Progressive Nature: Tax rates increase with income or wealth. 

Taxation Process: Taxpayers report income directly, with deductions available. 

Revenue Generation: Significant source of government income for public services. 

INDIRECT TAX: 

Definition: Taxes imposed on goods and services, with the burden passed on to consumers. 

Examples: 

• Value Added Tax (VAT) 
• Goods and Services Tax (GST) 
• Excise Duty 
• Customs Duty 

Regressive Nature: Takes a larger proportion of income from low-income individuals. 

Collection Process: Collected by businesses and intermediaries, passed on to government. 

Revenue Generation: Contributes significantly to government revenue for expenditures. 

Predictions and Preparation: 

• India faces hotter summers and longer heat waves, increasing water stress. 
• Response historically focused on disaster relief, not long-term planning. 

Interconnected Risks: 

• Understanding the chronic nature of risks: sudden shocks and slow-onset stresses. 
• Need to address water, energy, food, and climate crises collectively. 

Water Scarcity Statistics: 

• India houses 18% of the world’s population but only 4% of global freshwater resources. 
• Nearly half of its rivers are polluted, and primary reservoirs are at low capacity. 

Climate Impact and Vulnerability: 

• Three-quarters of India’s districts are hotspots for extreme climate events. 
• Climatic changes affect agriculture, the largest employer, and clean energy production. 

Water’s Economic Role: 

• Water is crucial for agriculture, clean energy, and overall economic productivity. 
• Water governance policies need to integrate with food and energy systems. 

SOBERING ASSESSMENT 

TOPIC: (GS2) INTERNATIONAL RELATIONS – SOURCE: THE HINDU 

IMF raises global growth forecast for 2024 to 3.2%, showing resilience despite challenges. 

Advanced economies, led by the U.S., drive growth momentum. 

Growing Disparity: 

• IMF highlights widening gap between low-income developing countries and the rest of the world. 
• These nations experience downward growth revisions and upward inflation. 

SMALL DEVELOPING COUNTRIES 

Small developing countries are nations with relatively small geographic size and population. 

They often have limited resources and face unique challenges in achieving development goals. 

Economic Vulnerability: 

• Small developing countries are susceptible to external economic shocks and fluctuations in global markets. 
• They may rely heavily on a few industries or exports, making them vulnerable to changes in commodity prices. 

Infrastructure and Development Challenges: 

• Many small developing countries struggle with inadequate infrastructure, including transportation, healthcare, and education systems. 
• Limited access to basic services hinders socio-economic development and quality of life for citizens. 

Impact of Pandemic: 

• Poorest countries, particularly in Africa and some parts of Latin America, Asia, and Pacific islands, suffer the most from COVID-19. 
• Output drops relative to pre-pandemic projections, hindering recovery efforts. 

Debt Burden: 

• Mounting debt service burden impairs spending on essential public goods like education, healthcare, and food security. 
• Limits the ability of governments in these countries to address socio-economic challenges. 

Widening Income Gap: 

• World Bank reports a historic reversal of development, with half of the world’s poorest countries experiencing a widening income gap with wealthier economies. 
• These countries are home to a quarter of humanity, with 90% facing hunger or malnutrition. 

Urgent Need for Support: 

• Urgent call for financial support from richer nations to alleviate debt distress and aid development efforts. 
• Examples like South Korea, China, and India demonstrate the potential for transition from borrowers to donors. 

Collective Responsibility: 

• Emphasis on the importance of global solidarity and support to tap into economic potential for universal peace and prosperity. 
• Turning away from the plight of a quarter of the world’s population is not an option. 

CHALLENGES IN RENEWABLE ENERGY DEVELOPMENT 

TOPIC: (GS3) ENVIRONMENT– SOURCE: THE HINDU 

UN Climate Change Executive Secretary highlights the urgency of the next two years in addressing climate change and saving the planet. 

• Linkages between development, sustainability, and climate change mitigation need better understanding. 

India’s Net Zero Goal and Solar Parks: 

• India aims for Net Zero greenhouse gas emissions by 2070, mainly through large-scale renewable energy transition. 
• Large-scale solar parks are a key component of India’s mitigation strategy. 

Local Level Impacts: 

• Farmers near solar parks experience varied outcomes, with some losing land and others benefitting from leasing. 
• Challenges include loss of sacred lands, water security issues, and economic disparity. 

Regional and National Scale Concerns: 

• Solar Park development may compete for essential resources like water and land, impacting agriculture and biodiversity. 
• Current estimates do not account for water availability, raising concerns about sustainability. 

Different Approaches: 

• Community-owned solar parks can promote local economies and energy access while avoiding past injustices. 
• Strengthening legal and regulatory frameworks is essential to mitigate adverse social and environmental impacts. 

Innovative Solutions: 

• Agrivoltaics, combining solar energy with agriculture, can provide sustainable energy and support farming practices. 
• Adequate skilling and training programs are needed to ensure employment opportunities and protect vulnerable populations. 

RENEWABLE ENERGY SECTOR 

India is a major player in the global renewable energy sector. Here’s a breakdown of its current capacity: 

• Total Installed Capacity (excluding Large Hydro): 143.64 GW (Gigawatt) (m.economictimes.com) 
• Total Installed Capacity (including Large Hydro): Over 190 GW (m.economictimes.com) 

Breakdown by Source: 

• Solar Power: 81.81 GW (including rooftop and ground-mounted) (mnre.gov.in) 
• Wind Power: 45.15 GW (investindia.gov.in) 
• Large Hydropower (plants exceeding 25 GW): 47 GW (not included in the 143.64 GW figure) 

Other Renewables: 

• Biomass/Co-generation: 10.2 GW 
• Small Hydro Power: 4.99 GW 
• Waste to Energy: 0.58 GW (investindia.gov.in) 

Key Points: 

• India has set an ambitious target of 500 GW of renewable energy capacity by 2030. (m.economictimes.com) 
• The country has seen significant growth in renewable energy additions in recent years. 
• Solar power is the leading source of renewable energy in India 

THE MPOX VIRUS USES A ‘GENOMIC ACCORDION’ TO EVOLVE AND INFECT HUMANS 

TOPIC: (GS3) SCIENCE AND TECHNOLOGY– SOURCE: THE HINDU 

Second green revolution involving energy presents a chance to align technological, economic, and institutional structures for sustainable development. Maximizing synergies between sustainability, climate change mitigation, and development outcomes is crucial for the future. 

• Smallpox, a notorious poxvirus, caused millions of deaths before its eradication. 
• It prompted global vaccination efforts, showcasing the power of public health initiatives. 

Emergence of Mpox: 

• Mpox, or monkeypox, gained attention due to a global outbreak in 2022-2023. 
• Originating from a spillover event in a research facility in 1958, it has since caused sporadic outbreaks in humans. 

Characteristics and Impact: 

• Mpox is a DNA virus with a genome size of about 197 kilobases. 
• The virus exhibits rhythmic expansions and contractions in its genome, termed genomic accordions. 

Genomic Insights: 

• Recent research has extensively sequenced the mpox genome, shedding light on its evolutionary dynamics. 
• Specific genome sections influence the virus’s transmissibility and evolution, contributing to variations in virulence and transmission routes. 

Outbreak Dynamics: 

• The 2022 outbreak involved a new lineage (clade IIb) with high human-to-human transmission rates. 
• A subsequent outbreak in the Democratic Republic of the Congo (DRC) revealed distinct viral lineages and transmission patterns. 

Genomic Surveillance and Public Health Response: 

• Genome sequencing helps track viral evolution and inform public health interventions. 
• Coordinated efforts between genomic researchers and health authorities are crucial in containing outbreaks and safeguarding global health security. 

Future Considerations: 

• Vigilant monitoring of viral genomes is essential to anticipate and mitigate emerging threats. 
• Continued research and collaboration are vital in addressing the evolving nature of poxviruses and other pathogens. 

CORALS 

TOPIC: (GS3) ENVIRONMENT– SOURCE: DOWN TO EARTH 

The NOAA recently announced that an unprecedented rise in ocean temperatures has prompted the onset of the fourth worldwide mass coral bleaching event. 

Corals: 

• Corals are marine animals that attach themselves to the ocean floor and are unable to move from their location, a characteristic known as being sessile. 
• They form a symbiotic relationship with single-celled algae called zooxanthellae, which provide them with food and nutrients through photosynthesis. 
• Coral reefs, often referred to as “rainforests of the sea,”  

Anatomy and Behavior: 

• Corals have tentacle-like structures that they use to catch food particles from the water and direct them into their mouths. 
• Each individual coral animal is called a polyp, and they live together in colonies consisting of hundreds to thousands of genetically identical polyps. 
• The two main types of corals are hard coral and soft coral, with hard corals being responsible for building coral reefs. 
• Symbiotic relation between zooxanthellae and coral polyps  

Formation of Coral Reefs: 

• Hard corals, with their stony skeletons made of limestone, are the architects of coral reefs, which are complex three-dimensional structures formed over thousands of years. 

• When coral polyps die, their skeletons remain and serve as foundations for new polyps to build upon, gradually expanding the reef. 

Significance of Coral Reefs: 

• They play a crucial role in marine ecosystems, providing habitats for thousands of species and contributing to biodiversity and ecosystem health. 

CHOLERA VACCINE 

TOPIC: (GS3) SCIENCE AND TECHNOLOGY– SOURCE: INDIAN EXPRESS 

The World Health Organization (WHO) recently granted prequalification to a novel oral cholera vaccine known as Euvichol-S. 

Cholera: 

• Cholera is an acute diarrheal disease caused by ingestion of food or water contaminated with the bacterium Vibrio cholerae. 
• It can lead to severe dehydration and even death if untreated. 

Symptoms: 

• Symptoms include severe watery diarrhea, vomiting, and dehydration. 
• Without prompt treatment, cholera can lead to rapid loss of fluids and electrolytes, resulting in shock and death. 

Epidemiology: 

• Cholera remains a significant public health concern in regions with inadequate access to clean water and sanitation facilities. 
• Outbreaks often occur following natural disasters, conflicts, or other emergencies, exacerbating the risk of transmission. 

Treatment: 

• Oral rehydration therapy (ORT) is the cornerstone of cholera treatment, which involves replacing lost fluids and electrolytes. 
• In severe cases, intravenous fluids and antibiotics may be necessary to manage dehydration and shorten the duration of illness. 

Prevention: 

• Improving access to safe drinking water and sanitation infrastructure is essential for cholera prevention. 
• Vaccination with oral cholera vaccines can provide additional protection, particularly during outbreaks or in endemic areas. 

META LLAMA 3 

TOPIC: (GS3) SCIENCE AND TECHNOLOGY– SOURCE: INDIAN EXPRESS 

Meta recently unveiled its latest Large Language Model (LLM), the Meta Llama 3, representing a significant advancement in their language processing capabilities. 

Features: 

• Claimed to be the most advanced model, showing significant progress in performance and AI capabilities. 
• Built upon the Llama 2 architecture, available in 8B and 70B parameter sizes, with base and instruction-tuned versions. 
• Specialized for Chatbots:The instruction-tuned version is tailored for AI chatbots, enhancing their conversational abilities. 
• Extended Context Length:Supports context lengths of up to 8,000 tokens, enabling more interactions and better handling of complex inputs. 

• Wide Compatibility:Usable on various platforms like Facebook, Instagram, WhatsApp, Messenger, and the web. 
• Integrated into the Hugging Face ecosystem for easy developer access. 
• Availability:Currently accessible in English across the US on WhatsApp, hinting at potential expansion to other languages and regions. 

SOIL ACIDIFICATION 

TOPIC: (GS3) ENVIRONMENT– SOURCE: TIMES OF INDIA 

A recent report has highlighted that over 30 percent of cultivable land in India is characterized by acidic soil, negatively impacting plant growth. 

Soil Acidification refers to the gradual decrease in soil pH over time, a process often accelerated by agricultural practices, impacting both surface and subsoil. 

Factors Contributing to Soil Acidification: 

Nitrogen Fertilizers: 

• The application of high levels of ammonium-based nitrogen fertilizers to naturally acidic soils contribute significantly to soil acidification. 
• Nitrate nitrogen, initially applied as ammonium-based fertilizers, can leach into the soil, further exacerbating soil acidity over time. 

Plant Material Harvesting: 

Impact of Soil Acidification: 

• Harvesting plants takes away alkaline elements from soil, making it more acidic than if plants decompose naturally. 

Depletion of Soil Carbon: 

• Acidification creates conditions conducive to the depletion of soil inorganic carbon, crucial for soil health and ecosystem services. 

Reduction in Nutrient Availability: 

• Acidic soils adversely affect crop growth and productivity by reducing the availability of essential plant nutrients, ultimately impacting agricultural yields.