“I didn’t fail the test. I just found 100 ways to do it wrong.” – Benjamin Franklin
ORANGE COLOUR: Important for Prelims.
RED COLOUR: Important for Mains.
BLACK COLOUR: Must Read !
BLUE COLOUR : Important Links/Survey.
PINK COLOUR: Reports/Themes/Summits.
Page Contents:
28th Oct Current Affairs News Analysis | Prelims & Mains 2021
Today's Must Read Articles :How Bangladesh has reduced gap ?
HEADLINES:
How Bangladesh has reduced gap — and is now projected to go past India
WHY IN NEWS:
Taking a long view, it is evident that the economic growth of Bangladesh has been steady over the past four decades. Following some turbulence in the years after independence due to famine and natural disasters, overall progress since the 1990s has been good.
SYLLABUS COVERED: GS 2 : IR
ISSUE:
TERMITE FACTORY
- About two years ago, India’s Home Minister spoke of “infiltrators” who were hollowing out the country “like termites”.
- Bangladesh has been doing better than both India and Pakistan on social and human development indicators for several years now, is also beginning to march ahead on the economic front.
LIFE EXPECTANCY
- Bangladesh had been outshining its larger neighbours on indicators such as infant mortality, child immunisation, female literacy and total fertility rate.
- When the nation was born in 1971, the average Bangladeshi could expect to live for only 46.5 years, two years less than the average Indian.
- Bangladesh lagged behind India in only one major economic dimension — income per capita, which in 2015 was approximately 25% less than India’s.
- But if the IMF’s latest projections are accurate, the gap is set to disappear, and Bangladesh and India are expected to be neck and neck until 2025.
HOW BANGLADESH IS TURNING THE CORNERS?
- The economic story of Bangladesh has not always been optimistic.
- These prophesies obviously did not account for incremental improvements in social and economic indicators over time.
Source: Bangladesh Bank
- POLITICAL WILL : From 2009 onward, the government of Prime Minister Sheikh Hasina has demonstrated a strong political will to uproot Islamic terrorism and establish peace.
- MACROECONOMIC STABILITY : Along with a sustained policy commitment to macroeconomic stability through prudent fiscal and international debt management.
- MANUFACTURING BOOM : Expansion of the social security net and execution of mega infrastructure projects have boosted the economy.
- BALANCING ACT : One of the Prime Minister’s most significant achievements has been to successfully balance the competing interests of India, China, Japan, Russia and the US.
IASbhai WINDUP:
This has allowed Bangladesh to protect its national interest and develop a win-win political and economic rapport with major global powers.
SOURCES:THE IE | 28th Oct Current Affairs News Analysis
Why MNCs want natural gas under GST ?
HEADLINES:
Why energy MNCs want natural gas to come under GST
WHY IN NEWS:
Experts have argued that bringing natural gas under the GST would lead to a reduction in the cascading impact of taxes on industries such as power and steel, which used natural gas as an input.
SYLLABUS COVERED: GS 3: Energy : Natural Gas
ISSUE:
- Currently petrol, diesel, aviation turbine fuel, natural gas and crude oil fall outside India’s Goods and Services Tax (GST) regime.
- Government officials have also indicated that the government is considering bringing natural gas under the ambit of the GST regime.
NATURAL GAS UNDER THE GST REGIME?
- Natural gas under the GST would lead to a reduction in the cascading impact of taxes on industries such as power and steel, which used natural gas as an input.
- This would lead to an increase in the adoption of natural gas in line with the government’s stated goal to increase the share of natural gas in the country from 6.3% to 15%.
DIFFERENCE BETWEEN EXCISE DUTY AND CUSTOM DUTY
- Custom duty applies to the goods that are sold in India but were produced in a different country.
- Custom duty is to be paid by the importer of the goods.
- A number of provisions are common for excise duty and custom duty with the major difference being the place of production of the goods in question.
- Non-payment of your excise duty on time can lead to huge financial repercussions.
- According to the laws related to excise duty, the amount of penalty can be anywhere between 25 to 50 percent of the amount of tax evaded.
- Usually, the excise duty itself is a big amount and when the penalty is calculated as a percentage of it, it can be of substantial value.
IASbhai WINDUP:
The energy consumption per capita in India is just 30 per cent of the world average.
SOURCES:THE IE | 28th Oct Current Affairs News Analysis
National Conference on Vigilance and Anti Corruption
HEADLINES:
PM inaugurates National Conference on Vigilance and Anti Corruption
WHY IN NEWS:
- India has Zero Tolerance Approach to Corruption: PM
- Administration should be transparent, responsible, accountable, answerable to the public inorder to fight corruption: PM
SYLLABUS COVERED: GS 2 : 4 : Governance : Integrity
ISSUE:
NATIONAL CONFERENCE ON VIGILANCE AND ANTI CORRUPTION
- Corruption across generations a major hurdle in the progress of the country.
ORGANISERS
THEME
- This theme was finalized after putting the suggestive themes on the website and obtaining the opinion of Chief Vigilance Officers.
FOCUS
The three day conference would discuss the Challenges
- In investigation in foreign jurisdictions
- Preventive Vigilance as a Systemic Check against Corruption
- Systemic improvements for financial inclusion and prevention of bank frauds
- Effective Audit as an Engine of Growth
- Capacity Building and Training;
- Multi Agency Coordination-an enabler for faster and more effective Investigation;
- Emerging Trends in Economic Offences
- Cyber Crimes and Transnational Organized Crime-measures to Control
- Exchange of Best Practices among Criminal Investigative Agencies.
SIGNIFICANCE
- The Commission believes that corruption is a major hindrance to the progress of the nation.
- All sections of society need to be vigilant in order to uphold integrity in all aspects of our national life.
- The Commission desires that all organisations focus on internal (housekeeping) activities.
- This includes improvement of internal processes, time bound disposal of work and systemic improvements leveraging technology.
IASbhai WINDUP:
- The Conference shall bring policy makers and practitioners on a common platform and will act as an enabler to combat corruption through systemic improvements .
- It will also take preventive vigilance measures, thereby ushering in good governance and accountable administration.
SOURCES: PIB | 28th Oct Current Affairs News Analysis
Electronic Exchange of Customs Data Agreement
HEADLINES:
India Post and United States Postal Service (USPS) signs Agreement for Electronic Exchange of Customs Data related to postal shipments exchanged between the two countries
WHY IN NEWS:
Hot from PIB !
SYLLABUS COVERED: GS 3: Communication : Postal Services
ISSUE:
ELECTRONIC EXCHANGE OF CUSTOMS DATA: POSTAL SHIPMENTS
AIM
- The agreement aims to facilitate ‘ease of exports’ for small and large exporters through postal channels
- This would enable customs clearance of postal items in advance in line with the evolving global postal framework.
SIGNIFICANCE
- This will also improve the performance of postal services in terms of reliability, visibility and security.
- USA is the top export destination for India (~17%) which is also reflected in exchange of goods through postal channel.
- In 2019, around 20% of outbound EMS and 30% of Letters & Small Packets transmitted by India Post were destined to USA whereas 60% of the Parcels received by India Post were originated from USA.
BENEFICIARIES
- Exchange of Electronic Advance Data (EAD) as per the Agreement will be a key driver towards promoting mutual trade with emphasis on the exports from different parts of India to USA .
IASbhai WINDUP:
- This will contribute towards making India an Export Hub for the world.
- This will fulfill a major demand of export industry to expedite customs clearances of export items.
SOURCES:THE HINDU & PIB | 28th Oct Current Affairs News Analysis
‘2+2’ talks
HEADLINES:
U.S. to support India’s defence of territory
WHY IN NEWS:
The United States will support India to defend its territorial sovereignty and liberty, U.S. Secretary of State Michael Pompeo said on Tuesday.
SYLLABUS COVERED: GS 2 : IR
ISSUE:
THIRD INDIA-U.S. ‘2+2’ DIALOGUE
KEY POINTS
- Mr. Pompeo said that the Chinese Communist Party (CCP) is “no friend to democracy”.
- USA also referred to the greater threats posed by China in the Asia-Pacific region and the COVID-19 pandemic.
AGREEMENTS SIGNED
- Apart from BECA, India and the U.S. also sealed an MoU on Technical Cooperation in Earth Observations and Earth Sciences.
- The two sides also signed an agreement on electronic exchange of customs data and a letter of intent regarding cooperation in traditional Indian medicines.
IASbhai WINDUP:
U.S. and India are taking steps to strengthen cooperation against all manner of threats and not just those posed by the Chinese Communist Party.
SOURCES:THE HINDU & PIB | 28th Oct Current Affairs News Analysis
Now, outsiders can buy land in J&K
HEADLINES:
Now, outsiders can buy land in J&K
WHY IN NEWS:
Centre notifies new land laws
SYLLABUS COVERED: GS 2 : Governance
ISSUE:
HIGHLIGHTS
- People, including investors, outside Jammu and Kashmir can now purchase land in the Union Territory .
- Under the new J&K Development Act, the Centre has omitted the term “permanent resident of the State”.
- This will pave the way for investors outside J&K to invest in the Union Territory.
JAMMU & KASHMIR LAND REVENUE ACT
- The Act enables transfer of land “in favour of a person or an institution for the purpose of promotion of healthcare or senior secondary or higher or specialised education in J&K”.
- “No sale, gift, exchange, or mortgage of the land shall be valid in favour of a person who is not an agriculturist,”.
- “No land used for agriculture purposes shall be used for any non-agricultural purposes except with the permission of the district collector.”
- Strategic Area will be only for direct operational and training requirements of the armed forces.
IASbhai WINDUP:
MOVE OPPOSED
- The People’s Alliance for Gupkar Declaration (PAGD) condemned the amendments.
- We strongly condemn the repealing of the J&K land laws and stripping permanent residents of exclusive right to acquire and hold immovable property.
SOURCES:THE HINDU & PIB | 28th Oct Current Affairs News Analysis
Thiruvayamkudy temple
HEADLINES:
Thiruvayamkudy temple authorities unearth many objects
WHY IN NEWS:
Elephant skeleton, Chinese pots found at temple cellar
SYLLABUS COVERED: GS 1 : Art and Culture
ISSUE:
RECENT FINDINGS
- A recent attempt to restore the Thiruvayamkudy Mahadeva temple, near Kaduthuruthy, Kottayam, appears to have brought to light an interesting facet of history associated with the centuries-old structure.
- The temple authorities have unearthed several objects, including the skeleton of an elephant, its chain and other wooden articles from a basement in the temple complex here.
- Several wooden articles, Chinese pots of different sizes and lamps made of bell metal too have been recovered from the vault.
- A team of forest officials visited the location and commenced efforts to conduct radiocarbon dating of the animal’s remnants.
IASbhai WINDUP:
We will cover this issue once again. Right now we have little information about this .
SOURCES:THE HINDU | 28th Oct Current Affairs News Analysis
DISCOVER MORE : Important Daily Current Affairs for UPSC PRELIMS 2021
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