Daily Prelims Notes 29 June 2022

Daily Prelims Notes

29 June 2022

Table OF Contents

1. Oceans Great Dying 2.0: Earth’s climate moderator is warming faster
2. UN Ocean Conference
3. ICAR adopts heat-tolerant crops, timely sowing to protect yield
4. Sodium Ion Battery
5. Back to back Droughts in eastern Africa
6. Govt to set up control rooms to enforce single-use plastic ban
7. Governor’s power to summon, prorogue or dissolve an assembly
8. PM Modi’s gift to G7 leaders
9. GST-Concepts
10. T-Hub 2.0
11. TDS on crypto
12. Nadaprabhu Kempegowda
13. US-led ‘Partners in the Blue Pacific
14. Scotland eyes independence vote
15. Pune-based Gennova Biopharmaceuticals mRNA vaccine
16. Power of Speaker

1. Oceans Great Dying 2.0: Earth’s climate moderator is warming faster

Subject: Geography

Section: Oceanography

Context: Oceans are heating up as they cross their natural capacity to sink carbon and atmospheric heat induced by GHGs emissions

Role of Ocean:

• The oceans modulate the global climate and control the planetary temperature thus the weather events like rains, storms and cyclones, floods and droughts
• About 50-80 per cent of the oxygen produced on Earth can be traced back to the sea
• The most important role the oceans play is that of a carbon sink. Four-fifths of the global carbon cycle is circulated through them
• As the global greenhouse gas (GHG) emissions caused by human activities have been growing exponentially, the oceans have absorbed more than 90 per cent of the global warming created by humans since the 1970s

Impact of Climate Change on Oceans:

• Changes in ocean temperatures and currents will lead to alterations in climate patterns around the world
• With rising warming, the temperature below the surface also goes up, affecting the species.
• More carbon in the atmosphere means also more of the same in the oceans being a sink.
• After certain level, this will increase the levels of dissolved carbon. This will further change the chemistry of the seawater by making it more acidic, thus turning the foundation of the vibrant living world in the oceans toxic
• Acidic water means many species like coral and shellfish would not be able to build their shells or skeletons leading to a collapse of the population
• The most significant warming was in the southern oceans. About 90 per cent of the net global ocean heat gain occurred in the region
• The northern hemisphere has more landmasses and hence a higher concentration of aerosols, which are known to prevent heat from getting sucked into the ocean.
• Natural variability like ENSO, Pacific Decadal Oscillation and Atlantic multi-decadal oscillation created those fluctuations.

Concept:

What is ENSO?

• The El Niño-Southern Oscillation (ENSO) is a recurring climate pattern involving changes in the temperature of waters in the central and eastern tropical Pacific Ocean.
• On periods ranging from about three to seven years, the surface waters across a large swath of the tropical Pacific Ocean warm or cool by anywhere from 1°C to 3°C, compared to normal.
• This oscillating warming and cooling pattern, referred to as the ENSO cycle, directly affects rainfall distribution in the tropics

Pacific decadal oscillation:

• The Pacific Decadal Oscillation (PDO) is often described as a long-lived El Niño-like pattern of Pacific climate variability
• Extremes in the PDO pattern are marked by widespread variations in the Pacific Basin and the North American climate.
• In parallel with the ENSO phenomenon, the extreme phases of the PDO have been classified as being either warm or cool, as defined by ocean temperature anomalies in the northeast and tropical Pacific Ocean

Atlantic multi-decadal oscillation

• The Atlantic Multi-decadal Oscillation (AMO) has been identified as a coherent mode of natural variability occurring in the North Atlantic Ocean with an estimated period of 60-80 years.
• It is based upon the average anomalies of sea surface temperatures (SST) in the North Atlantic basin, typically over 0-80N.

2. UN Ocean Conference

Subject: Geography

Section: Oceanography

Context:

• Leaders from 120 countries are assembling in Lisbon to attempt to reach an agreement to save global oceans as climate change takes a toll.
• The oceans face a severe threat from global warming, pollution, acidification and other problems.
• The Governments of Kenya and Portugal will co-host the Ocean Conference.
• The conference sought to find ways and urge for the implementation of Sustainable Development Goal 14.

Concept :

Threats

• Pollution, overfishing, and the effects of climate change severely damage the health of our oceans.
• For instance as oceans are warming and becoming more acidic, biodiversity is becoming reduced and changing currents will cause more frequent storms and droughts.
• Every year around 8 million metric tons of plastic waste leak into the ocean and make it into the circular ocean currents.
• This causes contamination of sediments at the sea-bottom and causes plastic waste to be embedded in the aquatic food chain.
• It could lead to oceans containing more plastics than fish by 2050 if nothing is done.
• Key habitats such as coral reefs are at risk and noise pollution is a threat to whales, dolphins, and other species.
• Furthermore almost 90 percent of fish stocks are overfished or fully exploited which cost more than $80 billion a year in lost revenues.

Agenda of the Conference

• The Ocean conference will adopt a declaration which would not be binding on its signatories, but could help in implementing and facilitating the conservation and protection of oceans and their resources.
• The declaration is being negotiated within the framework of the United Convention on the Law of the Sea. It is the main international agreement governing human maritime activities.

India at Ocean conference

• From India, the Minister of Earth Sciences, will attend the conference.
• He will speak on the theme– “Scaling up ocean action based on science and innovation for the implementation of goal 14: stocktaking, partnerships and solutions”.
• India will provide science and innovation-based solutions for implementing Goal 14.

3. ICAR adopts heat-tolerant crops, timely sowing to protect yield

Subject: Environment

Section: Climate Change

Context: Selection of varieties based on when exactly a crop is getting sown is one of the key components in protecting the yield during an abnormal increase in temperature as seen during the recent heat wave

Impact of Heat Wave:

The heat wave coincided with the grain filling and development stage of wheat resulting in yellowing and shrivelling of the grain and forced maturity— with average yield losses between 15 and 25 per cent

Ways to solve the problem

• Timely sowing and adoption of heat-tolerant varieties PBW03, DBW187 and DBW222 along with a spraying of Potassium Nitrate at 0.5 per cent at boot leaf and anthesis stages minimized yield loss
• Technologies such as mulching in sugarcane, ridge and furrow conserved the soil moisture and minimised the stress
• Heat tolerant wheat varieties DBW173, Raj4120 and Raj4079 contributed to containing yield loss by 5-6 per cent
• As a part of risk-prone 151 clusters created by ICAR through its National Innovations in Climate Resilient Agriculture (NICRA) programme across the country, where technologies were demonstrated that helped minimize the negative impacts of heat waves.

How potash sprays have helped cap heatwave impact on crops

• Potash helps in osmo-revolution process in plants. Due to osmotic pressure, turgidity in plants is maintained and regulates the opening of
• And when evapotranspiration does not happen due to it, plants retain the moisture level.
• Potash also helps in translocation of nutrient from leaves to grains,

National Innovations in Climate Resilient Agriculture (NICRA):

• It is a network project of the Indian Council of Agricultural Research (ICAR) launched in 2011.
• The project aims to enhance resilience of Indian agriculture to climate change and climate vulnerability through strategic research and technology demonstration
• The research on adaptation and mitigation covers crops, livestock, fisheries and natural resource management.
• The project consists of four components viz. Strategic Research, Technology Demonstration, Capacity Building and Sponsored/Competitive Grants

4. Sodium Ion Battery

Subject: Science

Context: The Indian off-grid energy storage market is expected to expand exponentially as the country aims to fulfil 50 per cent of its energy demands from renewable sources by 2030, resulting in high demand for storage batteries.

Concept:

Background:

• Currently, the two dominant commercial options to fulfil energy storage needs in India are lithium-ion batteries (LIB) and lead-acid batteries (LAB).
• LABs save 13.3% more emissions than nickel-manganese-cobalt (NMC) batteries but have low energy density, explosive potential and can even damage neurons of central nervous system.
• LIBs gained high commercial value due to their high energy density, compact size and enhanced cycle life. They are used in EV manufacturing and also for energy storage in electronics and off-grid power supply. However, material scarcity and higher costs restrain their production up-scaling.
• Therefore, diversification of battery technology is necessary for the rapidly growing Indian energy storage market, considering the issues related to material scarcity, supply vulnerability, production cost, environment and health with LABs and LIBs.

Sodium Ion Batteries (SIB):

• The sodium-ion battery (NIB or SIB) is a type of rechargeable battery analogous to the lithium-ion battery but using sodium ions (Na+) as the charge carriers.
• Its working principle and cell construction are almost identical with those of commercially widespread lithium-ion battery types, but sodium compounds are used instead of lithium compounds.

5. Back to back Droughts in eastern Africa

Subject: Geography

Section: Mapping

The Horn of Africa (HoA), also known as the Somali Peninsula, is a large peninsula in East Africa. Located on the easternmost part of the African mainland, it is the fourth largest peninsula in the world. It is composed of Ethiopia, Eritrea, Somalia, and Djibouti

Causes of recurrent droughts

• Climate change  affecting rainfall levels in the Horn of Africa.
• Human-induced warming raising the temperature of the western Pacific Ocean, leading to concerning rainfall deficits in eastern Kenya, Somalia, and Ethiopia.

6. Govt to set up control rooms to enforce single-use plastic ban

Subject: Environment

Section: Pollution

• With the ban on single-use plastic coming into force on July 1, the government will be setting up control rooms at national and state levels to ensure its effective enforcement.
• The list of banned items include earbuds with plastic sticks, plastic sticks for balloons, plastic flags, candy sticks, ice-cream sticks, polystyrene (thermocol) for decoration, plastic plates, cups, glasses, cutlery such as forks, spoons, knives, straw, trays, wrapping or packaging films around sweet boxes, invitation cards, cigarette packets, plastic or PVC banners less than 100 micron, stirrers.
• These control rooms will be supervised by the Central Pollution Control Board.
• States and Union Territories have been asked to set up border checkpoints to stop inter-state movement of any banned single-use plastic item.
• The items have been chosen on the basis of three criteria – their low utility, high littering potential and availability of alternative materials.
• The use of these items by consumers is also banned.

Statistics

• According to the CPCB, plastic waste generation in 2020-21 was 41,26,997 tonnes, while per capita waste generation was 3 kg per annum.
• There are 683 units manufacturing single-use plastic with a cumulative capacity of 2.44 lakh per annum.
• The percentage of single-use plastic in total plastic waste is between 10% and 35 %.

Efforts taken to eradicate single-use plastics

• The government has over the past year focused on encouraging industry and MSMEs to come up with alternatives to plastic, including biodegradable plastic and compostable plastic.
• The government has awarded works to seven startups developing solutions, including biodegradable packaging material made from crop stubble waste among others.
• The CPCB has already awarded certificates to 194 plants for production of compostable plastic with another 61 applications in process.
• The certified plants have a capacity to produce 3 lakh tonnes of compostable plastic per annum.

7. Governor’s power to summon, prorogue or dissolve an assembly

Subject: Polity

Section: Governor

• There are two provisions in the Constitution that deal with a governor’s power to summon, prorogue and dissolve an assembly.
• Under Article 174, a governor shall summon the House at a time and place, as she or he thinks fit.
• Article 174 (2) (a) says a governor may from “time to time” prorogue the House and,
• Article 174 (2) (b) allows her or him to dissolve the Legislative Assembly.
• Article 163 says the governor shall exercise her or his functions with the aid and advice of the council of ministers. But it also adds that she or he would not need their advice if the Constitution requires her or him to carry out any function at her/his discretion.
• A Madras High Court judgment of 1973 answered the question on the discretion of power over prorogation by reading Article 163 into Article 174 to hold that a governor was bound by the aid and advice of the council of ministers.

Supreme Court on governor’s discretionary powers

• In 2016, SC stated that a “governor can summon, prorogue and dissolve the House, only on the aid and advice of the council of ministers”.
• But the court also clarified that if the governor had reasons to believe that the chief minister and her or his council of ministers have lost the confidence of the House, a floor test could be ordered.

8. PM Modi’s gift to G7 leaders

Subject: History

Section: Art and Culture

Context: Prime Minister Narendra Modi, who was on a visit to Germany to attend G7 Summit, presented its leaders with various gifts displaying India’s rich art and crafts, particularly, those related to Uttar Pradesh’s one district one product scheme.

Concept:

• Metal Marodi carving matka to German Chancellor. This nickel-coated, hand-engraved brass vessel is a masterpiece from District Moradabad.
• Gulabi Meenakari brooch and cufflink set to US President. Gulabi Meenakari is a GI-tagged art form of Varanasi in Uttar Pradesh.
• A platinum-painted, hand-painted tea set from Bulandshahr, UP to UK PM.

• The French President got ltr bottles in a Zardozi box crafted in Lucknow. The zari zardozi box has been hand embroidered on khadi silk and satintissue in colours of the French National Flag. This box included Attar Mitti, Jasmine oil, Attar Shamama, Attar Gulab, Exotic Musk, and Garam Masala.
• Hand-knotted Kashmiri silk carpets to Canadian PM.
• Black Pottery pieces to Japan’s PM. The Black Pottery of Nizamabad in Uttar Pradesh uses a special technique to bring out black colours- while the pottery is inside the oven, it is ensured that there is no scope for oxygen to enter the oven and the heat level remains high.
• A marble inlay tabletop to Italy’s PM. Pietra dura or Marble inlay has its origins in the Opus sectile– a form of pietra dura popularized in the ancient and medieval Roman world where materials were cut and inlaid into walls and floors to make a picture or pattern.
• This marble table top with Inlay work has its origin in Agra of Taj Mahal fame.
• Dokra Art with Ramayana Theme to South Africa’s President. Dokra Art is non-ferrous metal casting art using the lost-wax casting technique.
• Nandi-themed Dokra Art to Argentina’s President.
• Moonj baskets and cotton durries to Senegal’s President.
• Lacquerware Ram Darbar to Indonesia’s President. The GI-tagged lacquerware art-form has its roots in the temple town of Varanasi in Uttar Pradesh.

Meenakari Art

• It is the process of painting and coloring the surfaces of metals and ceramic tiles through enameling originating in Safavid Iran.
• It is practiced as an art form and commercially produced mainly in Iran, Afghanistan, Pakistan and India (the term Kundan is more widely used in India).
• Minakari art usually involves intricate designs (mainly using geometric shapes and designs) and is applied as a decorative feature to serving dishes, containers, vases, frames, display ornaments and jewelry.

Zardozi

• It is an Iranian and Indian-subcontinent embroidery
• Zardozi is a type of heavy and elaborate metal embroidery on a silk, satin, or velvet fabric base.
• Designs are often created using gold and silver threads and can incorporate pearls, beads, and precious stones.
• It is used as decoration for a wide range of applications, including clothes, household textiles, and animal trappings.
• Historically, it was used to adorn the walls of royal tents, scabbards, wall hangings and the paraphernalia of regal elephants and horses.
• Initially, the embroidery was done with pure silver wires and real gold leaves. However, today, craftsmen make use of a combination of copper wire, with a golden or silver polish, and silk thread.

9. GST-Concepts

Subject: Economy

Section: Fiscal Policy

Context:

The GST Council on the first of its two-day meet in Chandigarh saw a general consensus among states on rate rationalisation, which includes correcting inverted duty structures and expanding the tax base.

Concept:

GST Council:

• It is a constitutional body under Article 279A.
• It makes recommendations to the Union and State Government on issues related to Goods and Service Tax and was introduced by the Constitution (One Hundred and First Amendment) Act, 2016.
• As per Article 279A of the amended Constitution, the GST Council which will be a joint forum of the Centre and the States, shall consist of the following members: –
  • Union Finance Minister – Chairperson
  • The Union Minister of State, in-charge of Revenue of finance – Member
  • The Minister In-charge of finance or taxation or any other Minister nominated by each State Government – Members
• As per Article 279A (4), the Council will make recommendations to the Union and the States on important issues related to GST, like the goods and services that may be subjected or exempted from GST, model GST Laws, principles that govern Place of Supply, threshold limits, GST rates including the floor rates with bands, special rates for raising additional resources during natural calamities/disasters, special provisions for certain States, etc.
• Every decision of the Goods and Services Tax Council shall be taken at a meeting by a majority of not less than three-fourths of the weighted votes of the members present and voting, in accordance with the following principles, namely:
  • the vote of the Central Government shall have a weightage of one third of the total votes cast, and
  • the votes of all the State Governments taken together shall have a weightage of two-thirds of the total votes cast, in that meeting.

GST Compensation:

Under GST, as per the Goods and Services Tax (Compensation to States) Act, 2017, the states were guaranteed compensation at the compounded rate of 14 per cent from the base year 2015-16 for losses arising due to implementation of the taxation regime for five years since its rollout. The compensation regime will end in June.

Revenue Neutral rate:

In the context of Goods and Services Tax in India, the Revenue Neutral Rate is a rate of GST at which the amount of taxes currently collected by the government and the amount expected to be collected after GST remains the same.

Inverted Tax Duty

The term ‘Inverted Tax Structure’ refers to a situation where the rate of tax on inputs purchased (i.e.GST rate paid on inputs received) is more than the rate of tax on outward supplies (i.e. GST rate payable on sales).

Thus, IDS refers to higher duty on inputs and lower levy on finished products, which leads to refunds burdening the exchequer.

Refund in case of Inverted Tax Structure under GST:

A registered person may claim a refund of unutilised Input Tax Credit (ITC). The ITC on account of inverted tax structure can be claimed at the end of any tax period where the credit has accumulated on account of the rate of tax on inputs being higher than the rate of tax on output supplies. A tax period is a period for which a return is required to be furnished.

Exceptions where the refund of the unutilised input tax credit cannot be claimed, are as follows:

• Output supplies are nil rated or fully exempt supplies except for supplies of goods or services or both as may be notified by the Government on the recommendations of the GST Council.
• If the goods exported out of India are subject to export duty.
• If supplier claims refund of output tax paid under IGST Act.
• If the supplier avails duty drawback or refund of IGST on such supplies.

E-Way bill system:

E-Way bill system is for GST registered person / enrolled transporter for generating the way bill (a document to be carried by the person in charge of conveyance) electronically on commencement of movement of goods exceeding the value of Rs. 50,000 in relation to supply or for reasons other than supply or due to inward supply from an unregistered person.

E-Way Bill is a compliance mechanism wherein by way of a digital interface the person causing the movement of goods uploads the relevant information prior to the commencement of movement of goods and generates an e-way bill on the GST portal.

An electronic way bill or ‘e-way bill’ system offers the technological framework to track intra-state as well as inter-state movements of goods of value exceeding Rs 50,000, for sales beyond 10 km in the Goods and Services Tax (GST) regime. When an eway bill is generated, a unique E-way Bill Number (EBN) is allocated and is available to the supplier, recipient, and the transporter.

It was launched to:

• Facilitate faster movement of goods.
• Improve the turnaround time of vehicles.
• Help the logistics industry by increasing the average distances travelled and reducing the travel time as well as costs.

E-Way Bill Rules

According to notified e-way bill rules, every supplier requires prior online registration on the e-way bill portal for the movement of goods. Tax officials have the power to scrutinise the e-way bill at any point during transit to check tax evasion.

Validity:

• The rules also specify that the permits for conventional cargo (other than over-dimensional carve) are valid for one day for the movement of goods for 100 km, and in the same proportion for the following days.
• In general, validity of the e-way bill cannot be extended but a commissioner may extend the validity period only through issuing notification for certain categories of goods.

Penalty for goods moved without generating a valid e-way bill:

• A fine of Rs 10,000 or amount of tax sought to be evaded, whichever is higher, may be imposed by tax authorities.
• In such a situation, goods, and the vehicle transporting them, can be detained or seized.
• An e-way bill can be regenerated by the transporter before expiry, but, if the e-way bill has expired, the system won’t allow regeneration linked to the same invoice.

Specific goods that are exempt from e-way bill rules are:

• Liquefied petroleum gas for supply to household and non-domestic exempted category customers
• Kerosene oil sold under Public Distribution System (PDS)
• Postal baggage transported by Department of Posts
• Natural or cultured pearls and precious or semi-precious stones; precious metals and metals clad with precious metal
• Jewellery, goldsmiths’ and silversmiths’ wares and other articles
• Currency
• Used personal and household effects
• Unworked and worked coral
• Goods transported are alcoholic liquor for human consumption, petroleum crude, high-speed diesel, petrol, natural gas or aviation turbine fuel.
• Goods being transported are not treated as supply under Schedule III of the Act. Schedule III consists of activities that would neither be a supply of goods nor service like service of an employee to an employer in his employment, functions performed by MP, MLA etc.
• Goods transported are empty cargo containers

Other transactional cases where e-way bill is not required are:

• e-Way Bill is optional for doods of value less than Rs. 50,000 (except in cases of mandatory e-way bill provisions like the movement of Handicraft goods and movement of goods for Interstate Job work)
• If goods are being transported by a non-motorised conveyance (Ex. Horse carts or manual carts)
• If goods are being transported:
• From the port, airport, air cargo complex and land customs station to an inland container depot (ICD) or a container freight station (CFS) for clearance by Customs
• From ICD or CFS to a customs port, airport, air cargo etc under customs bond
• From one customs port/station to another one under customs bond
• Goods transported under the customs supervision or customs seal
• Goods transported within the notified area
• Goods transported are transit from/ to Nepal/ Bhutan
• If goods are transported to a weighbridge within 20kms and back to the place of business covered under a Delivery Challan (DC)
• Where Government or local authorities transport goods by rail as a consignor
• Goods transported to/from the Ministry of Defence

10. T-Hub 2.0

Subject: Economy

Section: Indian Economy

Why in the news?

Telangana Chief Minister K Chandrashekar Rao has inaugurated T-Hub 2.0, the world’s biggest innovation campus, with an aim “to incubate the next generation of start-ups” that could become strong pillars of the country’s economy.

Concept:

T-Hub:

• The T-Hub (Technology Hub) was established in 2015, at IIT Hyderabad.
• T-Hub (Technology Hub) is an innovation intermediary and business incubator based in Hyderabad, Telangana, India.
• It is based on the triple helix model of innovation
• It is a partnership between the Government of Telangana, three academic institutes in Hyderabad (the International Institute of Information Technology, the Indian School of Business and the National Academy of Legal Studies and Research) and the private sector.
• T-Hub provides Indian and international startups access to technology, talent, mentors, customers, corporates, investors, and government agencies.
• T-Hub also helps state and central government organizations build innovation ecosystems.

The T-Hub 2.0 

• It has been set up at Raidurg in Hitec City. 
• It has been constructed with a total built-up area of more than 5.82 lakh square feet. It is thus the largest innovation campus worldwide. 
• Second largest innovation campus is “start-up incubator Station F” in France.
• T-Hub 2.0 will act as a microcosm of the innovation ecosystem. It will house over 2,000 start-ups, corporates, academia, investors, and national & international ecosystem enablers.
• Telangana government has invested over Rs 276 crore on the facility.
• It will offer various programmes for start-ups as well as forged associations with various companies and likeminded organisations worldwide.

The triple helix model of innovation

• It refers to a set of interactions between academia (the university), industry and government, to foster economic and social development, as described in concepts such as the knowledge economy and knowledge society.
• In innovation helical framework theory, each sector is represented by a circle (helix), with overlapping showing interactions.
• The framework was first theorized by Henry Etzkowitz and LoetLeydesdorff in the 1990s.
• Interactions between universities, industries and governments have given rise to new intermediary institutions, such as technology transfer offices, science parks etc

11. TDS on crypto

Subject :Economy

Section :Fiscal Policy

Context:

Buyer of virtual digital assets (VDA) outside crypto exchanges will now be required to deduct the tax at source (TDS) on the payment made in cash to the seller under section 194S of the Income Tax Act.

Details:

• Transactions taking place outside the exchange are called ‘peer to peer’ (P2P) transactions.
• For P2P transactions, the buyer (person paying the consideration) is required to deduct tax and deposit with the government, in case the consideration is other than in kind.
• In case of exchange of one VDA with another, both buyer and seller are required to deduct the tax.
• In a situation where VDA ‘A’ is being exchanged with another VDA ‘B’, both the persons are buyer and seller. Hence, both would  need to pay tax with respect to transfer of VDA and show the evidence to one another and then report the same in TDS statement.
• The buyer and seller will not be required to apply for TAN for depositing the TDS under 194S, other implications of section 206AA for non-furnishing of PAN to each other would still be required to comply with.
• Rate of TDS under newly-inserted section 194S in the Income Tax Act is 1 percent.

Concept:

Tax Deducted at Source:

• TDS or Tax Deducted at Source is a specific amount that is reduced when a certain payment like salary, commission, rent, interest, professional fees, etc. is made.
• The person who makes the payment deducts tax at the source, while the person who receives a payment/income has the liability to pay tax.
• It lowers tax evasion because the tax will be collected at the time of making a payment.

Example-Let’s assume that a start-up company pays Rs.90,000 as rent every month to whoever owns the property. The TDS applicable to the amount is 10%, so the company must subtract Rs.9,000 and pay Rs.81,000 to the property owner. In this case, the owner of the property will receive Rs.81,000 following TDS. The owner can add the gross amount of Rs.90,000 to his income, thereby allowing him to take credit for the Rs.9,000 that has already been deducted by the company.

Some of the income sources that qualify for TDS:

• Salary
• Amount under LIC
• Bank Interest
• Brokerage or Commission
• Commission payments
• Compensation on acquiring immovable property
• Contractor payments
• Deemed Dividend
• Insurance Commission
• Interest apart from interest on securities
• Interest on securities
• Payment of rent
• Remuneration paid to the director of a company, etc
• Transfer of immovable property
• Winning from games like a crossword puzzle, card, lottery, etc.

Tax Deduction Account Number or Tax Collection Account Number is a 10 -digit alpha-numeric number issued by the Income-tax Department. TAN is to be obtained by all persons who are responsible for deducting tax at source (TDS) or who are required to collect tax at source (TCS).

Section 206AA 

It requires every taxpayer who receives taxable income to furnish their PAN to the payer of such income. This applies to both the resident as well as non-resident recipients. The payments in case of residents would include salary, rent, professional receipts, contractual receipts and so on. In the case of non-resident, these would include all receipts that are taxable in India.A recipient of taxable income should furnish PAN to comply with the provisions of TDS under the Income Tax Act. Upon furnishing the PAN, payments made to the recipient would be taxed at the rate of TDS specified under the various TDS provisions of the Income Tax Act. A recipient who does not furnish PAN would suffer TDS at the higher rates specified in Section 206AA. The recipient is also required to furnish his PAN to the payer and both of them are required to indicate the same in all correspondence, bills, vouchers and other documents which are sent to each other.

12. Nadaprabhu Kempegowda

Subject :History

Section :Personality

Context:

• A bronze statue of Nadaprabhu Kempegowda, credited to be the founder of Bengaluru, will be unveiled soon at the premises of the Kempegowda International Airport (KIA), situated on the outskirts of the city.
• Also, Karnataka Chief Minister Basavaraj Bommai has announced that a Kempegowda statue will be installed inside the Vidhana Soudha premises within a year.

Who was Nadaprabhu Kempegowda?

• Nadaprabhu Kempegowda, a 16th century chieftain of the Vijayanagara empire, is credited as the founder of Bengaluru.
• It is said that he conceived the idea of a new city while hunting with his minister, and later marked its territory by erecting towers in four corners of the proposed city.
• Kempegowda is also known to have developed around 1,000 lakes in the city to cater to drinking and agricultural needs.
• He was from the dominant agricultural Vokkaliga community in south Karnataka.
• His name is everywhere in the city – the Kempegowda International Airport, the Kempegowda Bus Stand, and even the main metro station in the city is called NadaprabhuKempegowda metro station.
• An arterial road in the old city is called the K G Road or the Kempegowda Road.
• Kempegowda is an iconic figure among Karnataka’s second most dominant Vokkaliga community after Lingayats.
• The old Mysore region in south Karnataka consists of areas that were part of the erstwhile Kingdom of Mysore — Mysuru, Mandya, Chamarajanagar, Tumkur, Hassan, Chikmagalur, Kolar, Bengaluru and excludes coastal areas and Kodagu.

Airport statue of Kempegowda

• The 108-ft bronze statue is being constructed in a 23-acre heritage park on the airport premises.
• It has a 4,000 kg sword which arrived at the Bengaluru airport from Delhi last month. The sword was brought in a special truck from Delhi.
• The statue of Kempegowda is in its final stages of completion and it is the tallest statue of Kempegowda.

13. US-led ‘Partners in the Blue Pacific

Subject :IR

Section: Mapping

Context:

• Amid China’s aggressive push to increase its Pacific sphere of influence, the US and its allies — Australia, New Zealand, Japan and the United Kingdom — have launched a new initiative called ‘Partners in the Blue Pacific’ for “effective and efficient cooperation” with the region’s small island nations.

What is Partners in the Blue Pacific (PBP) initiative?

• The PBP is a five-nation “informal mechanism” to support Pacific islands and to boost diplomatic, economic ties in the region.
• Announced on June 24, it speaks of enhancing “prosperity, resilience, and security” in the Pacific through closer cooperation.
• It simply means that through the PBP, these counties — together and individually — will direct more resources here to counter China’s aggressive outreach.
• The initiative members have also declared that they will “elevate Pacific regionalism”, and forge stronger ties with the Pacific Islands Forum.
• In a joint statement released to announce the initiative, the five member nations said that the forum remains open to cooperating with additional partners, adding that “at every stage, These countries will be led and guided by the Pacific Islands.
• The areas where PBP aims to enhance cooperation include “climate crisis, connectivity and transportation, maritime security and protection, health, prosperity, and education”.

How is China trying to transform its ties in the Pacific?

• As China signed a security pact with Solomon Islands in April, the deal flagged serious concerns about the Chinese military getting a base in the southern Pacific, close to the US island territory of Guam, and right next to Australia and New Zealand.
• The deal, which boosted Beijing’s quest to dominate crucial shipping lanes criss-crossing the region, rattled the US and its allies.
• It also triggered urgent moves to counter China’s growing Pacific ambition amid a power vacuum fuelled by apparent lack of US attention.
• Beijing followed up on that win with its Foreign Minister Wang Yi undertaking a multi-nation tour to push 10 Pacific nations to endorse a “game-changing” agreement called the “Common Development Vision”.
• The draft agreement, accessed by the Associated Press, spoke about China wanting to work with “traditional and non-traditional security,” and expand law enforcement cooperation with these countries.
• The diplomatic blitz saw Wang Yi visit the Solomon Islands, Kiribati, Samoa, Fiji, Tonga, Vanuatu, and Papua New Guinea, and hold virtual meetings with the Cook Islands, Niue, and the Federated States of Micronesia.

What is being done by the US and its allies to counter China?

• Before launching the PBP this month, the US and its partners started the Indo-Pacific Economic Framework for Prosperity (IPEF), a trade-boosting play in the region with 13 nations — Australia, Brunei, India, Indonesia, Japan, Malaysia, New Zealand, the Philippines, Singapore, South Korea, Thailand, Fiji and Vietnam — as partners.
• Away from the Pacific, the G7 announced a plan — Partnership for Global Infrastructure and Investment (PGII) — to rival China’s Belt and Road Initiative by promising to raise $600 billion to fund development projects in low and middle-income countries.

Why is the Pacific region strategically important?

• In its 2019 strategy report, the US Department of Defence called the Indo-Pacific the “single most consequential region for America’s future”.
• It said: “Spanning a vast stretch of the globe from the west coast of the United States to the western shores of India, the region is home to the world’s most populous state (China), most populous democracy (India), and largest Muslim-majority state (Indonesia), and includes over half of the earth’s population.
• Among the 10 largest standing armies in the world, 7 reside in the Indo-Pacific; and 6 countries in the region possess nuclear weapons.
• Nine of the world’s 10 busiest seaports are in the region, and 60 percent of global maritime trade transits through Asia, with roughly one-third of global shipping passing through the South China Sea alone.”
• The US has long maintained a balance of power in the region with its hub-and-spoke system where America is the hub and its allies are spokes whose security is guaranteed by the US military power.

14. Scotland eyes independence vote

Subject :Polity

Section : Basic concepts

Context:

• Scotland’s government on Tuesday drew the battle lines for a legal and political tussle with London as it announced plans to hold a second independence referendum on October 19, 2023.

Scotland eyes independence

• Addressing the Edinburgh Parliament, First Minister Ni- cola Sturgeon conceded that her devolved administration may lack the power to call the vote without London’s approval.
• To ensure legal clarity, it will seek an opinion from the U.K. Supreme Court before it asks voters: “Should Scotland be an independent country?”
• Six years ago, Scotland voted to stay in the U.K.
• Current polls suggest Scots remain evenly divided on the question of independence.
• Ms. Sturgeon’s Scottish National Party (SNP) says the U.K.’s exit from the EU has transformed the debate.
• Most Scottish voters were opposed to Brexit, and the SNP-led government said that with a majority of MPs in the Edinburgh Parliament now in favour of independence, Scots should be consulted again.

Types of Direct Democracy

• Direct democracy has 4 devices – Referendum, Initiative, Recall and Plebiscite
  • Referendum – procedure in which a proposed legislation is referred to the electorate for acceptance through direct voting.
  • Initiative – method by means of which the people can propose a bill to the legislature for enactment.
  • Recall – way for voters to remove a representative or an officer before the expiry of his/her term, when he fails to discharge his duties properly.
  • Plebiscite – method of obtaining the opinion of people on any issue of public importance. It is generally used to solve territorial disputes.

15. Pune-based Gennova Biopharmaceuticals mRNA vaccine

Subject :Science and technology

Section :Biotechnology

Context:

• The country’s first homegrown mRNA Covid-19 vaccine developed at Pune’s Gennova Biopharmaceuticals has received emergency use approval by the Drug Controller General of India (DCGI) for the age group 18 and above.

Gennova Biopharmaceuticals’ mRNA vaccine

• It is scientifically sound and the most advanced technology, which has been proven safe and effective.
• The challenge in front of Gennova was to make it stable at 2–8 °C to enable the democratisation of the mRNA-based vaccine globally.
• Gennova already has a license from the Central Drug Standard Control Organisation (CDSCO) to manufacture and sell the vaccine and has produced 70 lakh doses at risk.
• After receiving  EUA, Gennova can ship the material soon after completing all formalities.
• The novel mRNA vaccine candidate, GEMCOVAC-19, is stable at 2-8 degrees makes it amenable for ease of deployment across the nation.
• The vaccine will be available for adults above 18 years of age. The two-dose vaccine will have to be administered intramuscularly, 28 days apart.
• Vaccines based on mRNA require ultra-low temperature conditions for storage and distribution.
• India already has a cold supply-chain infrastructure that can handle refrigeration conditions for deployment of the vaccine.
• Given that early mRNA vaccine developers couldn’t materialise such a product, freeze-drying the large and unstable mRNA molecule with the nanoparticle was a daunting challenge,” an official at the firm said.
• CDSCO approved the vaccine for EUA based on its safety and robust immunogenicity.

mRNA Vaccines

• Messenger RNA (mRNA) is a single-stranded RNA molecule that is complementary to one of the DNA strands of a gene.
• mRNA, like most RNAs, are made in the nucleus and then exported to the cytoplasm where the translation machinery, the machinery that actually makes proteins, binds to these mRNA molecules and reads the code on the mRNA to make a specific protein.
• So in general, one gene, the DNA for one gene, can be transcribed into an mRNA molecule that will end up making one specific protein.

16. Power of Speaker

Subject: Polity

Context: While granting interim relief to rebel MLAs of the ShivSena on Monday, the Supreme Court made a crucial but unusual judicial intervention that raises questions on the powers of the Speaker under the Tenth Schedule of the Constitution.

More about News

• The Tenth Schedule or the anti-defection law, introduced in 1985, gives the Speaker of the House the power to disqualify legislators who ‘defect’ from the party.
• In the landmark case KihotoHollohan versus Zachillhu in 1992, the Supreme Court upheld the power vested in the Speaker and said that only the final order of the Speaker will be subject to judicial review. Courts have refrained from interfering with the process itself.
• In the landmark Nabam Rebia v Bemang Felix case, Supreme Court held that it is “constitutionally impermissible” for a speaker to proceed with disqualification proceedings, if a no-confidence motion against him is pending.

Office of Speaker

• Election: The Speaker is elected from among the Lok Sabha membersby a simple majority of members present and voting in the House.
• Term of Office of the Speaker: The Speaker holds Office from the date of his/her election till immediately before the first meeting of the next Lok Sabha.
• Functions of Speaker
  • He/She is the final interpreter of the provisions of the Constitution of India, the Rules of Procedure and Conduct of Business of Lok Sabha and the parliamentary precedents, within the House.
  • He/She presides over a joint sitting of the two Houses of Parliament.
  • He/She can adjourn the House or suspend the meeting in absence quorum.
  • He/She decides whether a bill is a money bill or not and his/her decision on this question is final.
  • Committees like the Business Advisory Committee, the General Purposes Committee and the Rules Committee work directly under her Chairmanship
• Removal : Under Article 179 of the Constitution, a Speaker can be removed by a resolution of the Assembly passed by a majority of “all the then members of the Assembly”. The process begins with notice of at least 14 days.

Tenth Schedule: https://optimizeias.com/anti-defection-law-4/