Daily Prelims Notes 5 January 2021

January 5, 2021
Posted by: OptimizeIAS Team
Category: DPN

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Daily Prelims Notes 5 January 2021

By

Santosh Sir

All 6 Prelims qualified

4 CSE Mains qualified

If I can do it, you can too

Table Of Contents

1. FACELESS TAX SCHEME

Subject : Economy

Context : The government’s faceless tax assessment scheme, an attempt to remove individual tax officials’ discretion and potential harassment for income tax payers, has managed to deliver about 24,000 final orders since its introduction in August 2020.

Concept :

The government has now passed the Taxation and Other laws (Relaxation and Amendment of certain Provisions) Act, 2020 on September 2020 to incorporate the Faceless Assessment Scheme under the provisions of Income Tax Act, 1961.

Key Features

The National Faceless Assessment Centre (NFAC) will serve a notice to the taxpayer under section 143(2) of the Act. The taxpayer should file his/her response to the notice within 15 days of receipt of the notice from the NFAC.
The NFAC will assign the case selected for the purpose of faceless assessment to a specific assessment unit in any one Regional Faceless Assessment Centre (RFAC) through an automated allocation system (AAS).
After considering the material available on record, the assessment unit will prepare draft assessment order either accepting or modifying the returned income of the taxpayer and send it to NFAC along with the details of penalty proceedings to be initiated (if any).
The NFAC will examine the draft assessment order in accordance with the risk management strategy by way of an automated examination tool.
NFAC will then finalise the assessment and serve the order to the tax payer or issue a show cause notice to the taxpayer. NFAC can even assign the draft order to the review unit through AAS if required.

Significance

Taxpayer has to comply with assessment without requirement for physical attendance in the offices of the Income tax Department.
Faceless assessment is expected bring positive changes to the assessment system, thereby saving travel time and cost for the taxpayer.
Being environment friendly as there will not be any submission made physically, review by more than one assessment unit for a single assessment making the entire assessment process more transparent and objective.

2. EXIM BANK

Subject : National Organisations

Context : The Exim Bank is in the international bond market with a more than $1 billion dollar money issue, merchant bankers said.

Concept :

Export-Import Bank of India is a wholly owned Govt. of India entity which was established in 1982.
HQ : New Delhi
Aim : financing, facilitating and promoting foreign trade of India.
The EXIM bank extends Line of Credit (loC) to overseas financial institutions, regional development banks, sovereign governments and other entities abroad.
Thus the EXIM Banks enables buyers in those countries to import developmental and infrastructure, equipment’s, goods and services from India on deferred credit terms.
The bank also facilitates investment by Indian companies abroad for setting up joint ventures, subsidiaries or overseas acquisitions.

Functions of the EXIM Bank

It finances the import and export of goods and services from India and countries other than India.
Provides refinancing services to banks and other financial institutes for their financing of foreign trade
The bank also provides technical and other assistance to importers and exporters. Depending on the country of origin there are a lot of processes and procedures involved in the import-export of goods. The EXIM bank will provide guidance and assistance in administrative matters as well.
Will also underwrite shares/debentures/stocks/bonds of companies engaged in foreign trade.
Will offer short-term loans or lines of credit to foreign banks and governments.
EXIM bank can also provide business advisory services and expert knowledge to Indian exporters in respect of multi-funded projects in foreign countries.

3. CYBER FRAUDS AGAINST EXPORTERS

Subject : Economy

Context : The Ministry of External Affairs (MEA) has warned the Commerce Ministry on the increasing number of phishing cyber frauds taking place against Indian exporters.

Concept :

The MEA has informed that email spoofing/phishing cyber frauds are causing increased bilateral trade disputes.
Though this is registered as a cybercrime in the respective jurisdictions of the country, the authorities cannot do much to reverse the transaction.
The victims end up being the Indian exporters who after supplying the goods, have neither the goods in their possession nor have received payment for it.

Preventive Measures

The Directorate General of Foreign Trade (DGFT), under the Commerce Ministry, has in turn advised export organisations and all traders to implement necessary security protocols for protection.
Such problems can be largely resolved by implementing security protocols such as Sender Policy Framework (SPF), Domain Keys identified Mail (DKIM) and Domain-based Message Authentication Reporting & Conformance (DMARC).
SPF, DKIM, and DMARC are protocols for standard email signatures which meet various safety issues and all three must be implemented in order to ensure the best possible deliverability.
All three prove that the sender is legitimate that their identity has not been compromised and that they’re not sending email on behalf of someone else. They are all based on the Domain Name System (DNS) of the domain.
It was also proposed that exporters could confirm bank details by another channel such as a secure voice line.

Directorate General of Foreign Trade (DGFT):

It is an agency of the Union Ministry of Commerce and Industry and is responsible for implementing the country’s foreign trade policy. It was established in 1991.
It has headquarters in New Delhi with 38 regional offices all over the country.
It is headed by the Director-General of Foreign Trade. The Appointments Committee of Cabinet (ACC) appoints the DGFT.
It is responsible for administering laws regarding foreign trade and foreign investment in India and for the execution of India’s import and export Policy.
It offers facilitation to exporters in connection with developments in international trade such as WTO Agreements, Rules of Origin etc. to aid them in their export and import decisions in an international dynamic environment.

4. JEEVAN PRAMAAN

Subject : Technology

Context : Along with the extension of various tax deadlines recently, the submission of life certificate by pensioners was also extended to February 28, 2021.

Concept :

Life Certificate

A life certificate is a proof of existence produced to an authorised pension distributor or agency such as bank or post office by an individual stating that he/she is alive.
The government and insurance companies insist on this certificate before making pension or annuity payments. The certificate is usually required annually.
The individual drawing the pension is required to be personally present before the pension disbursing agency.
However, with the outbreak of pandemic, digital life certificate (DLC) is sufficient proof for pension payments.

Jeevan Pramaan /DLC’s

Jeevan pramaan is one of the main requisites for the pensioners to avail pension is to provide Life Certificates (LCs).
“Jeevan Pramaan ” – an “Aadhar-based Digital Life Certificate” for pensioners. It is a move that could eventually benefit over a crore pensioners.
The proposed digital certification will do away with the requirement of a pensioner having to submit a physical Life Certificate in November each year, in order to ensure continuity of pension being credited into his account.
It can be operated on a personal computer or a smartphone, along with an inexpensive biometric reading device.
This facility will also be made available at Common Service Centres being operated under the National e-Governance Plan, for the benefit of pensioners residing in remote and inaccessible areas.

5. LA NINA

Subject : Geography

Context : After the pandemic-hit 2020 that saw demand destruction all round, a great weather market is upon us following the onset of La Nina.

Concept :

About La Nina :

It means the large-scale cooling of ocean surface temperatures in the central and eastern equatorial Pacific Ocean, together with changes in the tropical atmospheric circulation, namely winds, pressure and rainfall.
It has the opposite impacts on weather and climate as El Niño, which is the warm phase of the El Niño Southern Oscillation (ENSO).

Weather Changes due to La Nina :

The Horn of Africa and central Asia will see below average rainfall due to La Niña.
East Africa is forecast to see drier-than-usual conditions, which together with the existing impacts of the desert locust invasion, may add to regional food insecurity.
It could also lead to increased rainfall in southern Africa.
It could also affect the South West Indian Ocean Tropical Cyclone season, reducing the intensity.
Southeast Asia, some Pacific Islands and the northern region of South America are expected to receive above-average rainfall.
In India, La Niña means the country will receive more rainfall than normal, leading to floods.

6. APEDA

Subject : National Organisations

Context : Agricultural and Processed Food Products Export Development Authority (APEDA) has removed the word ‘halal’ from its ‘Red Meat Manual’.

Concept :

APEDA clarified that Halal Certification agencies are accredited directly by respective importing countries. No government agency has any role in this.

About APEDA :

The Agricultural and Processed Food Products Export Development Authority (APEDA) was established by the Government of India under the Agricultural and Processed Food Products Export Development Authority Act 1985.
The Authority replaced the Processed Food Export Promotion Council (PFEPC).
APEDA, under the Ministry of Commerce and Industries, promotes export of agricultural and processed food products from India.
APEDA is mandated with the responsibility of export promotion and development of the following scheduled products.

Administrative Structure :

Chairman – Appointed by the Central Government.
Director – Appointed by APEDA.
Secretary – Appointed by the Central Government.
Other Officers and Staff – Appointed by the Authority.

7. AJANTA CAVE PAINTINGS

Subject : Culture

Concept :

Ajanta is a series of rock-cut caves in the Sahyadri ranges (Western Ghats) on Waghora river near Aurangabad in Maharashtra.
Number of Caves: There are a total of 29 caves (all buddhist) of which 25 were used as Viharas or residential caves while 4 were used as Chaitya or prayer halls.

Time of Development

The caves were developed in the period between 200 B.C. to 650 A.D.
The Ajanta caves were inscribed by the Buddhist monks, under the patronage of the Vakataka kings – Harishena being a prominent one.
Reference of the Ajanta caves can be found in the travel accounts of Chinese Buddhist travellers Fa Hien (during the reign of Chandragupta II; 380- 415 CE) and Hieun Tsang (during the reign of emperor Harshavardhana; 606 – 647 CE). .

Painting

The figures in these caves were done using fresco painting.
The outlines of the paintings were done in red colour. One of the striking features is the absence of blue colour in the paintings.
The paintings are generally themed around Buddhism – the life of Buddha and Jataka stories.
UNESCO Site: The caves were designated a UNESCO World Heritage site in 1983.

About Aurangabad :

Aurangabad, city, west-central Maharashtra state, western India. It is situated in a hilly upland region on the Kaum River.
The city, originally known as Khadki, was founded by Malik Ambar in 1610. Its name was changed by the Mughal emperor Aurangzeb, who built the Bibi Ka Maqbara tomb near the city as an imitation of the Taj Mahal in Agra.
Aurangabad remained the headquarters of the independent nizams (rulers), but it declined when the capital was moved to Hyderabad in Hyderabad princely state.
The city is also a popular tourist destination, mainly the result of its proximity to the Ellora and Ajanta cave temples, both of which were designated UNESCO World Heritage sites in 1983.

8. EPIZOOTICS

Subject : Science & tech

Context :Samples of dead migratory water birds found at the Pong Dam Lake in Himachal Pradesh have tested positive for avian influenza or bird flu. It has now become the fifth state to report suspected cases of bird flu after Haryana, Rajasthan, Kerala and Madhya Pradesh .

Concept :

Bird flu is a highly infectious and severe respiratory disease in birds caused by the H5N1 influenza virus, which can occasionally infect humans as well, although human-to-human transmission is unusual, according to the World Health Organisation.

EPIZOOTICS

An epidemic outbreak of disease in an animal population akin to an epidemic in humans, often with the implication that it may extend to humans.
An epizootic may be restricted to a specific locale (an “outbreak”), general (an “epizootic”), or widespread (“panzootic”).
High population density is a major contributing factor to epizootics.
For Example; Kyasanur Forest Disease Virus , avian influenza, Swine flu , Foot and Mouth disease etc.
It generally causes serious economic or public health issues and are of major importance in the international trade of animals and animal products

9. NATIONAL GALLERY OF MODERN ART

Subject : Culture

Context : After Opening its doors on January 5, the National Gallery of Modern Art (NGMA) has planned a series of programmes, including free weekend visits, at the museum.

Concept :

The upcoming calendar year at the national institution includes retrospectives of Nandalal Bose, Ramkinker Baij and Amrita Sher-Gil, and an exhibition of Tantra Art.

Ramkinkar Baij

Ramkinkar Baij (1906-1980), one of the most seminal artists of modern India, was an iconic sculptor, painter and graphic artist.
He was born in Bankura, West Bengal
In 1925, he made his way to Kala Bhavana, the art school at Santiniketan and was under the guidance of Nandalal Bose.
Along with Nandalal Bose and Benodebehari Mukherjee, he played a pivotal role in making Santiniketan one of the most important centres for modern art in pre-Independent India.

Contributions to modern art:

He assimilated the idioms of the European modern visual language and yet was rooted in his own Indian ethos.
He experimented restlessly with forms, moving freely from figurative to abstract and back to figurative.
His themes were steeped in a deep sense of humanism and an instinctive understanding of the symbiotic relationship between man and nature.
Both in his paintings and sculptures, he pushed the limits of experimentation and ventured into the use of new materials

Nandala Bose

Nandalal Bose was a disciple of Abanindranath Tagore. He became the principal of Kala Bhavan, Shanti Niketan in 1922.
Nandalal Bose also originally painted the Indian flag, slightly different from its present form, and it was inspired by the freedom struggle.
He became principal of the Kala Bhavan at Tagore’s International University Santiniketan in 1922.
He was also asked by Jawaharlal Nehru to sketch the emblems for the Government of India’s awards, including the Bharat Ratna and the Padma Shri.
He is also known to have taken up the task of beautifying the original manuscript of the Constitution of India.

Amrita Sher Gil :

Known as India’s Frida Kahlo.
Born in Hungary to a Sikh Aristocrat, mother was a Jewish opera singer from Hungary.
Early paintings display a significant influence of the Western modes of painting with special influence of works of Hungarian painters, especially the Nagybanya School of painting.
The first important painting was “Young Girls“. This painting led to her election as an Associate of the Grand Salon in Paris in 1933, making her the youngest ever to have received this recognition.
She was greatly impressed and influenced by the Mughal and Pahari schools of painting and the cave paintings at Ajanta.
In 1937, she produced famous South Indian trilogy of paintings – “Bride’s Toilet“, “Brahmacharis” and “The South Indian Villagers”.
The Government of India has declared her works as National Art Treasures, and most of them are housed in the National Gallery of Modern Art in New Delhi.

National Gallery of Modern Art :

NGMA was established in 1954, at the Jaipur House, New Delhi.
It is run and administered as a subordinate office to the Ministry of Culture, Government of India.
The NGMA has two branches, one at Mumbai and the other at Bengaluru.
One of its objectives is to acquire and preserve works of modern art from the 1850s onward.