Daily Prelims Notes 14 February 2022

February 14, 2022
Posted by: OptimizeIAS Team
Category: DPN

Daily Prelims notes

14 February 2022

Table Of Contents

TOPIC: Polity

Context- The Centre has now mandated corporate India to furnish a comprehensive report on their corporate social responsibility (CSR) activities. It is expected to give the government a comprehensive picture of the CSR funds spent and activities carried out.

Concept-

CSR spending:

The Companies Act 2013 requires companies with a net worth of ₹500 crore of more, or turnover of ₹1,000 crore or more or a net profit of ₹5 crore or more during the immediately preceding three years to spend 2 per cent of the average net profit on CSR activities.
- such expenses would not be eligible for deduction under section 37 and section 80G of the Income Tax Act.
- Tax Exemptions under Section 80D clearly prescribes only two instances (i.e. contribution towards the Swachh Bharat Koshand Clean Ganga Fund) in respect of which deduction under section 80G is not permissible if sum spent by the assessee is in pursuance of CSR.
In India, the concept of CSR is governed by clause 135 of the Companies Act,
India is the first country in the world to statutorily mandate CSR spending along with a framework to identify potential CSR activities.
The existing framework under the CSR rules already obligates a company to file a detailed report of its CSR activities, to be annexed to the board report.
The Act requires companies to set up a CSR committee which shall recommend a Corporate Social Responsibility Policy to the Board of Directors and also monitor the same from time to time.

Injeti Srinivas Committee:

A High Level Committee on CSR was formed in 2018 under the Chairmanship of Injeti Srinivas.
The main recommendations included
- making CSR expenditure tax deductible,
- allowing the carry-forward of unspent balance for a period of 3-5 years, and
- aligning Schedule VII of the Companies Act with the United Nations Sustainable Development Goals.

2. PROBIOTICS YOGHURT FOR A LONG & HEALTHY LIFE

TOPIC: Science & Tech

Context- Indian scientists recently identified a next-generation probiotic bacterium, Lactobacillus plantarum JBC5, from a dairy product that showed promise in promoting healthy ageing. The team has also developed a yoghurt using this probiotic bacterium.

Concept-

Lactobacillus plantarum JBC5:

Lactobacillus plantarum JBC5 showed great promise in promoting healthy ageing in a model organism, Caenorhabditiselegans, a worm with genetic characteristics similar to those of humans.
LPJBC5 improved learning and memory.
LPJBC5 conferred resistance against abiotic and biotic stresses such as oxidative, heat, and pathogen.
LPJBC5 reduced the production of reactive oxygen species and improved mitochondrial function, thereby reducing apoptosis in worms.

Probiotics:

Probiotics are foods that are made up of good live bacteria or yeasts that naturally stay in the human body.
Human body is a host to good and bad bacteria. Whenever one gets an infection, there is more bacteria that is bad.
Probiotic supplements add good bacteria to the human body.

What are Probiotics made of:

These are a combination of beneficial bacteria and yeasts that naturally stay in the human body.
Bacteria is not always a negative addition to the body, it is positive too.
Probiotics are part of a larger microbiome. These microbes are a combination of:
- Bacteria:
  - Lactobacillus
  - Bifidobacterium
- Fungi (including yeasts)
  - Saccharomyces boulardii
- Viruses
- Protozoa

Where do Probiotics live in the body?

The most common place where beneficial microbes are is the gut of the human body. This mostly includes large intestines.
They also exist in your:
- Gut
- Mouth
- Vagina
- Urinary tract
- Skin
- Lungs

3. COSMIC SWEET SPOTS

TOPIC: Science & Tech

Context- It is easier and cheaper to launch rockets from cosmic sweet spots.

Concept-

A sweet Spot is an optimum point or combination of factors or qualities.
There are two such sweet spots — the second was discovered only recently.
They are ‘Trojan asteroids’.
- These kinds of asteroids travel alongside a planet in its journey around the sun. A fellow-traveller, a hamsafar!
The second Earth Trojan asteroid, named 2020XL5, was discovered in late 2020, but conﬁrmed only recently.
- 2020XL5 is about 1.2 km across — thrice as big as the ﬁrst Earth Trojan asteroid, named 2010TK7.
Both the Earth Trojan asteroids sit at the Lagrange point 4 (L-4), which is one of the ﬁve spots of equilibrium between the Earth and the sun
- a Lagrange point between two bodies is where an object remains stable, and won’t drift away, because it is pulled with equal force by the two bodies.

Asteroids:

An asteroid is a minor planet of the inner Solar System.
Asteroids are diﬃcult to ﬁnd because they are small and typically don’t reﬂect much light (low albedo).
Larger asteroids are often called planetoids.
Asteroids are somewhat arbitrarily differentiated from comets and meteoroids.
- In the case of comets, the difference is one of composition: while asteroids are mainly composed of mineral and rock, comets are primarily composed of dust and ice. Furthermore, asteroids formed closer to the sun.
- The difference between asteroids and meteoroids is mainly one of size: meteoroids have a diameter of one meter or less, whereas asteroids have a diameter of greater than one meter.

4. EMISSIONS FROM PADDY CULTIVATION

TOPIC: Agriculture

Context- The Budget has announced chemical-free natural farming within a 5-km-wide corridor along the Ganga, support for millets, increased domestic production of oilseeds, kisan drones, etc.

Concept-

Agriculture contributes 73% of country’s total methane emissions. India is not reporting nitrous oxide emissions in its national GHG inventories.
As per the national GHG inventory, agriculture emits 408 million tonnes (mt) of carbon-dioxide equivalent (CO2e), and rice cultivation is the third-largest source (at 17.5%) within Indian agriculture, after enteric fermentation (54.6%) and fertiliser use (19%).

RICE CULTIVATION:

Paddy fields are anthropogenic sources of atmospheric nitrous oxide and methane which are 273 and 80-83 times more powerful than CO2 in driving temperature increase in 20 years, respectively.
There is scientific evidence that intermittent flooding for rice reduces water and methane emissions, but increases nitrous oxide emissions.
Second, there are emissions due to burning of rice residues, application of fertilisers, production of fertilisers for rice, energy operations like harvesting, pumps, processing, transportation, etc, which are not being accounted in GHG emissions by rice production.
Furthermore, rice cultivation requires about 4,000 cubic metres of water per tonne.
Economic Survey 2021-22 points out that India is over-exploiting its groundwater resources, particularly in its northwestern and southern reaches. This is primarily due to paddy cultivation on 44 million hectares.
Paddy helped achieve food security, but now is the time to save groundwater and the environment by revisiting policies on subsidising power and fertilisers, MSP, procurement, switching from carbon-intensive crops such as rice to low carbon crops, or for improving farming practices in rice to lower GHG emissions.

5. ILO CONVENTIONS

TOPIC: Polity

Context- Recently, the CRUSHED Report 2021 released by Safe in India (SII) portrays a dismal picture concerning occupational safety and health in the auto sector.

However, occupational safety and health (OSH) has not received due attention from law- makers and even trade unions in India. OSH is an existential human and labour right.

Concept-

ILO:

Established in 1919 by the Treaty of Versailles as an affiliated agency of the League of Nations.
Became the first affiliated specialized agency of the United Nations in 1946.
Headquarters: Geneva, Switzerland
The ILO sets international labour standards with conventions, which are ratified by member states. These are non-binding.
In ratifying an ILO convention, a member state accepts it as a legally binding Many countries use conventions as a tool to bring national laws in line with international standards.

ILO Conventions:

The eight-core conventions of the ILO are:
- Forced Labour Convention (No. 29)
- Abolition of Forced Labour Convention (No.105)
- Equal Remuneration Convention (No.100)
- Discrimination (Employment Occupation) Convention (No.111)
- Minimum Age Convention (No.138)
- Worst forms of Child Labour Convention (No.182)
- Freedom of Association and Protection of Right to Organised Convention (No.87)
- Right to Organise and Collective Bargaining Convention (No.98)
India has not ratified the two core/fundamental conventions, namely Freedom of Association and Protection of the Right to Organise Convention, 1948 (No. 87) and Right to Organise and Collective Bargaining Convention, 1949 (No. 98).
India has ratiﬁed International Labour Organization (ILO) conventions,
- the Labour Inspection Convention, 1947 (C081) and
- Labour Statistics Convention, 1985 (C160);

6. SRI LANKA DEBT CRISIS

TOPIC: IR

Context- A group of senior parliamentarians in Sri Lanka, including some aligned to the government, have called for an “orderly negotiated postponement” of outstanding foreign debt, and corrective policy measures including a “strong social welfare scheme”, to combat the island nation’s economic crisis.

Concept-

Sri Lanka Economic Crisis:

Sri Lanka’s economic situation steadily deteriorated since the COVID-19 pandemic struck, with its key foreign revenue earning sectors – exports, tourism, and worker remittances – badly hit.
The import-reliant country is facing a severe dollar crunch for months, fanning fears of a sovereign default and a severe food shortage for citizens.
Sri Lanka’s gross foreign reserves dropped in January 2022, down by 24% since December.
Sri Lanka has sought Indian assistance of over $2 billion.
Sri Lanka’s current economic crisis is marked not only by draining foreign reserves, but also by increasing instances frequent food shortages and costs of essentials and food.

7. INTERNATIONAL MONETARY FUND (IMF)

TOPIC: IR

Context- Sri Lankan government is divided on seeking support from the International Monetary Fund (IMF) to address its economic crisis due to its stringent conditions which may further erode social welfare schemes that are crucial to prevent starvation at such a critical time.

Concept-

IMF Lending:

The IMF assists countries hit by crises by providing them financial support to create breathing room as they implement adjustment policies to restore economic stability and growth.
It also provides precautionary financing to help prevent and insure against crises.
The causes of crises are varied and complex, and can be domestic, external, or both.
- Domestic factors include inappropriate fiscal and monetary policies, which can lead to large economic imbalances such as CAD & Fiscal Deficit; an exchange rate fixed at an inappropriate level, a weak financial system, Political instability and/or weak institutions.
- External factors include shocks ranging from natural disasters to large swings in commodity prices, sudden changes in market sentiment. The COVID-19 pandemic is another example of external shock affecting countries across the globe.

IMF:

The International Monetary Fund (IMF) is an organization of 189 member countries, each of which has representation on the IMF’s executive board in proportion to its financial importance, so that the most powerful countries in the global economy have the most voting power.
Membership in the IMF is a prerequisite to membership in the IBRD.
Quota subscription: On joining the IMF, each member country contributes a certain sum of money, called a quota subscription, which is based on the country’s wealth and economic performance (Quota Formula). Quotas are denominated (expressed) in SDRs.
- It is a weighted average of GDP (weight of 50 percent)
- Openness (30 percent),
- Economic variability (15 percent),
- International reserves (5 percent).
Special Drawing Rights (SDRs) is the IMF’s unit of account and not a currency.
- The currency value of the SDR is determined by summing the values in U.S. dollars, based on market exchange rates, of a SDR basket of currencies including the S. dollar, Euro, Japanese yen, pound sterling and the Chinese renminbi (included in 2016).
Members’ voting power is related directly to their quotas.

8. FRENCH SETTLEMENTS IN INDIA

TOPIC: Indian History

Context- The Registry Building, a two storey structure at Chandernagore built in 1875 and a symbol of French settlement of the colonial town, has been awaiting restoration for a long time.

Concept-

French Settlements in India:

The French settlement in India began in 1673.
By the time of Napoleon Bonaparte’s defeat in 1816, the French had the following establishments in its possession:
- Pondicherry
- Chandernagore
- Karaikal
- Mahe
- Yanam
- The lodges at Machilipatnam, Kozhikode and Surat
Chandernagore, or Chandannagar, was the ﬁrst trading post on the eastern bank of the Hooghly, set up by the French in 1696. The French purchased Chandernagore from the Mughal Governor of Bengal.
Next year they acquired Pondicherry from the Sultan of Bijapur.

9. CAPITAL GAINS TAX (CGT)

TOPIC: Economy

Context- In an almost 10-fold increase in tax collections from stock markets, the government is expecting to collect Rs 60,000-80,000 crore this financial year as a tax on capital gains in the stock markets as against Rs 6,000-8,000 crore in the previous fiscal.

Concept-

Capital Gains Tax:

Under the Income Tax Act, gains from the sale of capital assets, both movable and immovable, are subject to ‘capital gains tax’.
Movable personal assets such as cars, apparel, furniture are excluded from this tax.
Equity shares or units of equity-oriented mutual funds held for more than 12 months are considered long-term, while house property held for 24 months is considered a long-term capital asset.
Short-term capital gains are chargeable to tax at normal slab rates applicable to the taxpayer, except where such gain is arising from the sale of equity shares in a company or units of equity-oriented mutual fund or unit of a business trust (where STT has been paid), which attracts a tax of 15 per cent, while long-term capital gains in excess of Rs 1 lakh for equity is taxed at 10 per cent.

10. EOS-04

TOPIC: Science & Tech

Context- The Indian Space Research Organisation (ISRO) successfully launched its earth observation satellite EOS-4 and two co-passenger technology demonstrator and scientific satellites on Monday from the first launch pad at the country’s only spaceport in Sriharikota, Andhra Pradesh

The spacecraft will also carry the INS-2DT technology demonstrator satellite, which has a thermal imaging camera and can help in the assessment of land and water surface temperatures apart from mapping vegetation.

Concept-

PSLV-C52/EOS-04 Mission

India’s Polar Satellite Launch Vehicle PSLV-C52 injected Earth Observation Satellite EOS-04, into an intended sun synchronous polar orbit of 529 km from Satish Dhawan Space Centre, SHAR, Sriharikota.

EOS-04

The 1,700kg EOS-04 is a radar imaging satellite capable of providing high-quality images under all weather conditions.
It can be used to capture images for agriculture, forestry, flood mapping, soil moisture and hydrology.
The satellite has a mission life of 10 years.

Satish Dhawan Space Centre (SDSC) or Sriharikota Range (SHAR):

Satish Dhawan Space Centre (SDSC) or Sriharikota Range (SHAR) is a rocket launch centre (spaceport) operated by Indian Space Research Organisation (ISRO).
Sriharikota is a barrier island off the Bay of Bengal coast located in the Shar Project settlement of Nellore district in Andhra Pradesh, India.

11. INDIA’S FIRST SEMICONDUCTOR FABRICATON UNIT BY 2024

TOPIC: Science & Tech

Context- The Ministry of Electronics and Information Technology (MeitY) is likely to target 2024 for the formal opening of the country’s first semiconductor fabrication unit.

As a part of the plan, the Centre has lined up incentive support for companies engaged in silicon semiconductor fabs, display fabs, compound semiconductors, silicon photonics, sensors fabs, semiconductor packaging and semiconductor design.

Concept-

Semiconductor device fabrication:

Semiconductor device fabrication is the process used to manufacture semiconductor devices, typically the metal–oxide–semiconductor (MOS) devices used in the integrated circuit (IC) chips such as modern computer processors, microcontrollers, and everyday electrical and electronic devices.
It is a multiple-step sequence of photolithographic and chemical processing steps during which electronic circuits are gradually created on a wafer made of pure semiconducting material.
Silicon is almost always used, but various compound semiconductors are used for specialized applications.

Semiconductor Chips:

Semiconductors are materials which have a conductivity between conductors and insulators.
They can be pure elements, silicon or germanium as well as compounds; gallium, arsenide or cadmium selenide.
These chips are now an integral part of contemporary automobiles, household gadgets and essential medical devices such as ECG machines.