Daily Prelims Notes 21 September 2021

September 21, 2021
Posted by: OptimizeIAS Team
Category: DPN

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Daily Prelims Notes

21 September 2021

Table Of Contents

1. COVAX

Subject – IR

Context – COVID19 vaccine export to resume

Concept –

COVAX stands for COVID19 Vaccines Global Access.
COVAX is co-led by Gavi, the Coalition for Epidemic Preparedness Innovations (CEPI) and the World Health Organization.

Coalition for Epidemic Preparedness Innovations (CEPI)

The Coalition for Epidemic Preparedness Innovations (CEPI) is a foundation that takes donations from public, private, philanthropic, and civil society organisations, to finance independent research projects to develop vaccines against emerging infectious diseases (EID).
CEPI is focused on the World Health Organization’s (WHO) “blueprint priority diseases”, which include: the Middle East respiratory syndrome-related coronavirus (MERS-CoV), the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), the Nipah virus, the Lassa fever virus, and the Rift Valley fever virus, as well as the Chikungunya virus and the hypothetical, unknown pathogen “Disease X”.
CEPI investment also requires “equitable access” to the vaccines during outbreaks, although subsequent CEPI policy changes may have compromised this criterion.
CEPI was conceived in 2015 and formally launched in 2017 at the World Economic Forum (WEF) in Davos, Switzerland.
It was co-founded and co-funded with US$460 million from the Bill and Melinda Gates Foundation, the Wellcome Trust, and a consortium of nations composed of India, Germany, Japan and Norway, which the European Union (2019) and United Kingdom (2020) subsequently joined.
CEPI is headquartered in Oslo, Norway.

GAVI

GAVI, officially Gavi, the Vaccine Alliance is a public–private global health partnership with the goal of increasing access to immunization in poor countries.
It was created in 2000.
GAVI facilitates vaccinations in developing countries by working with donor governments, the World Health Organization, UNICEF, the World Bank, the vaccine industry in both industrialised and developing countries, research and technical agencies, civil society, the Bill & Melinda Gates Foundation and other private philanthropists.
GAVI has observer status at the World Health Assembly.
India is a Gavi beneficiary and will, therefore, receive a certain proportion of the vaccines from the COVAX facility.
In 2019, the Gavi Board approved a new five-year strategy (‘Gavi 5.0’) with a vision to ‘leave no-one behind with immunisation’ and a mission to save lives and protect people’s health by increasing equitable and sustainable use of vaccines.

To know about COVAX, please click here.

To know about Vaccine Maitri, please click here.

2. Dementia

Subject – Science and Tech

Context – Pandemic made access to medical care, support challenging for dementia patients.

Concept –

Dementia is a disease of the brain characterised by progressive deterioration in brain function, including memory, learning, orientation, language, comprehension and judgment.
The irreversible decline in intellectual and physical functioning affects the person with dementia and causes significant distress to their family and carers.
As per the Dementia India report 2020, 5.3 million people above the age of 60 have dementia in our country. The numbers are expected to double in 20 years. In Bengaluru, it is estimated over 46,000 elders are with dementia.
In India, it is estimated that one in 27 people (5.3 million) above the age of 60 had dementia in 2020, according to the Dementia in India 2020 report published by the Alzheimer’s and Related Disorders Society of India (ARDSI). This is projected to rise to 7.6 million by 2030.
People with dementia are at high risk of mortality due to COVID-19 which was evident in care homes in the West which were worst-affected during both waves of the pandemic.
The annual household cost of caring for a person with dementia in India, depending on the severity of the disease, ranges between ₹45,600 to ₹2,02,450 in urban areas and ₹20,300 to ₹66,025 in rural areas.
Mental Health Act, 2017, gives details on advance directives, nominated representatives and minimum standards, though more work needs to be done about financial support.
With NIMHANS, the Centre for Brain Research, and initiatives such as SKAN, there has been active research in the field of dementia diagnosis and treatment.

3. Monsoon Withdrawal

Subject – Geography

Context – Excess September rainfall shrinks monsoon deficit to 3%

Concept –

According to IMD, the monsoon withdrawal from northwest India takes place if there is a cessation of rainfall activity over the area for continuous five days.
An anti-cyclonic wind has to form over the lower troposphere, and there should also be considerable reduction in moisture content.

To know more about Monsoon Withdrawal, please click here.

4. Plant Discoveries 2020

Subject – Environment

Context – Botanical Survey of India says 202 species were discovered across the country in 2020

Concept –

The Botanical Survey of India, in its new publication Plant Discoveries 2020 has added 267 new taxa/ species to the country’s flora.
The 267 new discoveries include 119 angiosperms; 3 pteridophytes; 5 bryophytes, 44 lichens; 57 fungi, 21 algae and 18 microbes.
Among the new discoveries this year, nine new species of balsam (Impatiens) and one species of wild banana (Musa pradhanii) were discovered from Darjeeling and one species each of wild jamun (Syzygiumanamalaianum) from Coimbatore in Tamil Nadu and fern (Selaginellaodishana) were recorded from Kandhamal in Odisha.
22% of the discoveries were made from the Western Ghats followed by the Western Himalayas (15%), the Eastern Himalayas (14%) and the Northeast ranges (12%). The west coast contributed 10% while the east coast contributed (9%) in total discoveries; the Eastern Ghats and south Deccan contribute 4% each while the central highland and north Deccan added 3% each.

5. National Florence Nightingale Award

Subject – Awards

Context – President honours Brig. Saraswati

Concept –

The award is the highest national distinction a nurse can achieve for selfless devotion and exceptional professionalism.
In a virtual ceremony on Monday, President Ram Nath Kovind conferred the National Florence Nightingale Award 2020 on Deputy Director General of Military Nursing Service (MNS) Brig. S.V. Saraswati for her contribution to the MNS as nurse administrator.

6. Vishnuonyx

Subject – Environment

Context – Fossils of these now extinct otters were first discovered in sediments found in the foothills of the Himalayas.Now, a newly found fossil indicates it had travelled as far as Germany.

Concept –

Between 12.5 million and 14 million years ago, members of a genus of otters called Vishnuonyx lived in the major rivers of southern Asia.
Fossils of these now extinct otters were first discovered in sediments found in the foothills of the Himalayas. Now, a newly found fossil indicates it had travelled as far as Germany.
Researchers have discovered the fossil of a previously unknown species, which they have named Vishnuonyxneptuni, meaning ‘Neptune’s Vishnu’.
The species was discovered from a 11.4-million-year-old strata in the area of Hammerschmiede, which is a fossil site in Bavaria, Germany that has been studied for about 50 years

This is the first discovery of any member of the Vishnuonyx genus in Europe; it is also its most northern and western record till date.
Vishnuonyx were mid-sized predators that weighed, on average, 10-15 kg. Before this, the genus was known only in Asia and Africa (recent findings show that Vishnuonyx reached East Africa about 12 million years ago.
Vishnuonyx depended on water and could not travel long distances over land.
Its travels over 6,000 km were probably made possible by the geography of 12 million years ago, when the Alps were recently formed. These Alps and the Iranian Elbrus Mountains were separated by a large ocean basin, which would have made it easier for the otters to cross it.
Researchers believe ‘Neptune’s Vishnu’ first reached southern Germany, followed by Ancient Guenz and eventually, the Hammerschmiede.

7. Pre-Budget Meetings

Subject – Polity

Context – Pre-Budget meetings to start from October 12

Concept –

The Budget is expected to be presented on February 1.
This year’s Budget process will have one new Ministry (Co-operation) and Demands for Grants taking the total number of Central Ministries/Departments to 56 and total number of Demands for Grants to 102.
The Budget Estimates for 2022-23 will be provisionally finalised after Secretary (Expenditure) completes discussions with the Secretaries and Financial Advisors.

Demand for Grants

Demand for Grants is the form in which estimates of expenditure from the Consolidated Fund, included in the annual financial statement and required to be voted upon in the Lok Sabha, are submitted in pursuance of Article 113 of the Constitution.
The demand for grants includes provisions with respect to revenue expenditure, capital expenditure, grants to State and Union Territory governments together with loans and advances.
Generally, one demand for grant is presented in respect of each ministry or department. However, for large ministries and departments, more than one demand is presented.

Union Budget –

Union Budget of India is the country’s comprehensive Annual Financial Statement.
The Union Budget consists of a detailed account of the government’s finances, its revenues from various sources and expenditures to be incurred on different activities that it will incur.
As mentioned in Article 112 of the Indian Constitution, the Union Government lays a statement of its estimated receipts and expenditure for that year, From April 1 to March 31, before both the Houses of Parliament.
The term “budget” is not mentioned in the Constitution.

8. United Nations International Fund for Agricultural Development (IFAD)

Subject – Environment

Context – Dramatic changes needed in global food systems to address nutrition disparity, poverty: IFAD

Concept –

Transforming global food systems to become more inclusive, fair and sustainable may seem an insurmountable challenge, but there are concrete actions policymakers can take, IFAD noted during the release of its Transforming Food Systems for Rural Prosperity report.
Small-scale family farmers are still the foundation of food supply across all low- and middle-income countries, the report highlighted. “They play a critical role in reducing rural poverty and ensuring national food and nutrition security.”
It called for investing in and creating conditions for productive, economically viable and environmentally sustainable small-scale family farming.
A majority of people in rural areas earn their livelihoods from working in small-scale agriculture, which is a vital source of national and global food. In fact, farms of up to two hectares produce 31 per cent of the world’s food on less than 11 per cent of the farmland.
Food systems are responsible for 37 per cent of greenhouse gas emissions and are also highly vulnerable to a changing climate, according to the paper.

About International Fund for Agricultural Development (IFAD) –

It is an international financial institution and a specialised agency of the United Nations that works to address poverty and hunger in rural areas of developing countries.
It is the only multilateral development organization that focuses solely on rural economies and food security.
Headquartered in Rome, Italy, IFAD is involved in over 200 projects across nearly 100 countries.
It funds and sponsors initiatives that improve land and water management, develop rural infrastructure, train and educate farmers in more efficient technologies, build up resilience against climate change, enhancing market accessibility, and more.
IFAD has 177 member states and works in partnership with the Organization of the Petroleum Exporting Countries (OPEC) and members of the Organisation for Economic Co-operation and Development (OECD).

9. Waste-to-Energy

Subject – Environment

Context – Bandhwari landfill: Waste-to-energy plant will pollute environment, residents protest expansion

Concept –

Waste-to-energy or energy-from-waste is the process of generating energy in the form of electricity and/or heat from the primary treatment of non-recyclable waste or the processing of non-recyclable waste into a fuel source.
It is a form of energy recovery.
Search for waste disposal solutions and the desire for alternative energy sources were the forces behind the genesis for this industry in the late 1970s, early 1980s.
The Timarpur Okhla Municipal Solid Waste Management plant, a private-public partnership project of the Jindal ITF Ecoplis and Municipal Corporation of Delhi (MCD) is India’s first waste-to-energy plant.

There are different types of waste-to-energy systems or technologies:

Combustion Technologies
- Mass-burn system: Unprocessed Municipal Solid Waste is burned in a large incinerator with a boiler and a generator for producing electricity.
- Modular Systems
  - Modular Systems burn unprocessed, mixed MSW.
  - They differ from mass-burn facilities in that they are much smaller and are portable.
  - They can be moved from site to site.
- Refuse Derived Fuel Systems – Refuse derived fuel systems use mechanical methods to shred incoming MSW, separate non-combustible materials, and produce a combustible mixture that is suitable as a fuel in a dedicated furnace or as a supplemental fuel in a conventional boiler system.

Gasification
- It is a process that converts any material containing carbon—such as coal, petroleum, or biomass—into synthesis gas (syngas) composed of hydrogen and carbon monoxide.
- The syngas can then be burned to produce electricity or further processed to produce vehicle fuel.

Pyrolysis
- Pyrolysis is defined as a process of temperature decomposition of organic material in the absence of oxygen.
- It involves a change in chemical composition.

Incineration
- Incineration is a thermo-decomposition process where the components present in the waste stream are ionized into harmless elements at a higher temperature in the presence of oxygen.

Anaerobic digestion
- Anaerobic digestion is the process by which organic matter such as animal or food waste is broken down to produce biogas and biofertilizer.

Landfill gas (LFG) recovery
- It is the process by which methane gas is collected from solid waste deposited in a landfill.
- Instead of escaping into the air, LFG can be captured, converted, and used as a renewable energy resource.

Torrefaction
- The torrefaction technology involves heating straw, grass, sawmill residue, and wood biomass to 250 degrees Celsius – 350 degrees Celsius.
- This changes the elements of the biomass into ‘coal-like’ pellets.
- These pellets can be used for combustion along with coal for industrial applications like steel and cement production

Polycrack technology
- It is the world’s first patented heterogeneous catalytic process that converts multiple feedstocks into hydrocarbon liquid fuels, gas, carbon, and water.
- The process is a closed-loop system and does not emit any hazardous pollutants into the atmosphere.
- The combustible, non-condensed gases are re-used for providing energy to the entire system and thus, the only emission comes from the combustion of gaseous fuels.
- This process will produce energy in the form of light diesel oil which is used to light furnaces.

10. Securities Transaction Tax (STT)

Subject – Economy

Context – At ₹11,000 crore, STT mop-up in Apr-Sept closes in on FY22 target

Concept –

Securities transaction tax (STT) is a direct tax levied at the time of purchase and sale of securities listed on stock exchanges in India.
Securities are tradable investment instruments such as shares, bonds, debentures, equity-oriented mutual funds (MFs) and so on and are issued either by companies or by the Indian government.
This tax was introduced in the 2004 Union Budget and came into effect from 1 October 2004.
STT is governed by Securities Transaction Tax Act (STT Act) and STT Act has specifically listed down various taxable securities transaction i.e., transaction on which STT is leviable.
- While the term ‘securities’ is not defined under STT Act, STT Act specifically allows borrowing of definition of such terms not defined in STT Act but defined in Securities Contracts (Regulation) Act, 1956 or Income-tax Act, 1961.
The rate of STT differs based on the type of security traded and whether the transaction is a purchase or a sale.
These rates are decided by the central government.
The initiative behind introducing STT was to curb evading of capital gains tax on profits earned by transecting in securities.
Taxable securities include equity, derivatives, unit of equity oriented mutual fund. It also includes unlisted shares sold under an offer for sale to the public included in IPO and where such shares are subsequently listed in stock exchanges. STT is an amount to be paid over and above transaction value and hence, increases transaction value.
STT is required to be collected by a recognised stock exchange or by the prescribed person in the case of every Mutual Fund or the lead merchant banker in the case of an initial public offer, as the case may be, and subsequently payable to the Government on or before the 7th of the following month.
- In case the above persons fail to collect the taxes, they are still obliged the discharge an equivalent amount of tax to the credit of Central Government within 7th of the following month. Further, failure to collect or, remit whatever has been collected will result in levy of interest and penal consequences too.

11. Equalisation Levy

Subject – Economy

Context – Surge in equalisation levy, too; net direct tax collection up over 73 per cent

Concept –

Equalisation Levy was introduced in India in 2016, with the intention of taxing the digital transactions i.e. the income accruing to foreign e-commerce companies from India. It is aimed at taxing business to business transactions.
The government introduced vide Budget 2016, the equalisation levy to give effect to one of the recommendations of the BEPS (Base Erosion and Profit Shifting) Action Plan.

Applicability of Equalisation Levy –

Equalisation Levy is a direct tax, which is withheld at the time of payment by the service recipient. The two conditions to be met to be liable to equalisation levy:
- The payment should be made to a non-resident service provider;
- The annual payment made to one service provider exceeds Rs. 1,00,000 in one financial year.

Services Covered Under Equalisation Levy –

Currently, not all services are covered under the ambit of equalisation Levy. The following services covered:
- Online advertisement
- Any provision for digital advertising space or facilities/ service for the purpose of online advertisement.

Equalisation Levy at present –

Equalisation levy at 6% has been in force since 2016 on payment exceeding Rs 1 lakh a year to a non-resident service provider for online advertisements.
It is now applicable for e-commerce companies that are sourcing revenue from Indian customers without having tangible presence here in the country.
The amendments to the Finance Act, 2020 had expanded the ambit of the equalisation levy for non-resident e-commerce operators involved in supply of services, including online sale of goods and provision of services, with the levy at the rate of 2% effective April 1, 2020.
The tax applies on e-commerce transactions on websites such as Amazon.com. Google in particular as the tax applies on advertising revenue earned overseas if those ads target customers in India.

12. Coronal Mass Ejections (CMEs)

Subject – Science and Tech

Context – Study probes how ejections from Sun’s corona influence space weather predictions crucial for monitoring satellites

Concept –

A recent study has shown how conditions and events in the solar atmosphere like coronal mass ejections influence the accuracy of space weather prediction, which is crucial for the health of our satellites.
This understanding will aid the interpretation of data from the upcoming Aditya-L1, India’s first solar mission.
Space weather refers to the conditions in the solar wind and near-Earth space, which can adversely affect the performance of space-borne and ground-based technological systems.
The space weather near the Earth is mainly due to Coronal Mass Ejections (CMEs), which are frequent explosive expulsions of huge magnetized plasma from the Sun into its surroundings, which can blow past the Earth.
Example of space weather events is the geomagnetic storm, a perturbation in the Earth’s magnetic field, which can last for few hours to few days.
Plasma properties and Earth arrival times of CMEs from the Sun can vary substantially with longitudinal locations in the interplanetary space.
Sun emits a continuous stream of charged particles called the Solar Wind.
Plasma characteristics and arrival times of a CME-driven shock, propagating in a pre-conditioned inhomogeneous medium, may be different at different longitudinal locations in the heliosphere.
The study highlights the difficulties in connecting the local observations of an ICME from a single in situ spacecraft to its global structures and explains that accurate prediction of large CME structures at any location in the heliosphere is challenging.

To know about solar storm, please click here.

13. Reserve Bank of India

Subject – Economy

Context – Making the banking sector more vibrant

Concept –

The Reserve Bank of India is the central bank of the country.
The Reserve Bank of India was set up on the basis of the recommendations of the Hilton Young Commission.
The Reserve Bank of India Act, 1934 (II of 1934) provides the statutory basis of the functioning of the Bank, which commenced operations on April 1, 1935.
It draws its powers and responsibilities through other legislations also such as theBanking Regulation Act, 1949.
The Bank was constituted to
Regulate the issue of banknotes
Maintain reserves with a view to securing monetary stability and
To operate the credit and currency system of the country to its advantage.
The Bank began its operations by taking over from the Government the functions so far being performed by the Controller of Currency and from the Imperial Bank of India, the management of Government accounts and public debt.
With liberalisation, the Bank’s focus has shifted back to core central banking functions like Monetary Policy, Bank Supervision and Regulation, and Overseeing the Payments System and onto developing the financial markets.

Regulations Review Authority (RRA)

In 1999, the RBI set up a Regulations Review Authority (RRA) for reviewing regulations, circulars and reporting systems, based on feedback from the public, banks and financial institutions.
- This process, besides streamlining and increasing the effectiveness of several procedures and simplifying regulatory prescriptions, paved the way for issuance of Master Circulars (MCs) and reduced reporting burden on regulated entities.
- MCs significantly improved general understanding of central bank rules and procedures, and increased transparency.
- The transition from MCs to Master Directions became effective from January 2016, heralding availability of central bank rules and regulations for each subject matter on real-time basis.
The RBI set up the Second Regulations Review Authority in May 2021 to streamline regulations and reduce the compliance burden on regulated entities.

‘Priority sector’

The year 1972 witnessed crystallisation of a formal definition for‘priority sector’.
The current PSL guidelines require domestic commercial banks (excluding regional rural banks and small finance banks ) to achieve, in a fiscal year, a target of 40 per cent of adjusted net bank credit or credit equivalent of off-balance sheet exposures as on the corresponding date of the preceding year, whichever is higher.
Narasimham Committee-I had recommended reducing the scope of directed credit under the priority sector from 40 per cent to 10 per cent, which couldn’t be accepted, and Narasimham Committee-II had taken note of this.

Contingent Convertible Capital Instruments

CoCos are nontraditional hybrid capital instruments.
Their twin objectives are (a) loss absorption and (b) recapitalisation, when a bank ‘is’ in trouble, or when it is a ‘going concern’.
CoCos can absorb losses either by converting into common equity or writing down the principal, subject to activation of “triggers”.