Daily Prelims Notes 24 July 2024

Daily Prelims Notes

24 July 2024

Table Of Contents

1. HIGHLIGHTS OF THE UNION BUDGET 2024-25
2. A green wealth tax in Budget 2024
3. Supreme Court delivers split verdict on nod for GM mustard
4. US Arctic Strategy 2024 to prevent Russia, China from exploiting icy northern region
5. Budget provides customs duty exemptions for three cancer treatment drugs
6. Cough syrup samples fail quality tests: central drug regulator’s report
7. Andhra Pradesh to get ₹15,000 crore for capital Amaravati
8. Drug used to treat clots can protect against cobra venom damage

1. HIGHLIGHTS OF THE UNION BUDGET 2024-25

Sub: Eco

Sec: Fiscal Policy

The Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman presented the Union Budget 2024-25 in Parliament today. The highlights of the budget are as follows:

Part-A

Budget Estimates 2024-25:

• • Total receipts other than borrowings: `32.07 lakh crore.
  • Total expenditure: `48.21 lakh crore.
  • Net tax receipt: `25.83 lakh crore.
  • Fiscal deficit: 4.9 per cent of GDP.
• Government aims to reach a deficit below 4.5 per cent next year.
• Inflation continues to be low, stable and moving towards the 4% target; Core inflation (non-food, non-fuel) at 3.1%.

• The focus of budget is on EMPLOYMENT, SKILLING, MSMEs, and the MIDDLE CLASS.

Package of PM’s five schemes for Employment and Skilling

•  Prime Minister’s Package of 5 Schemes and Initiatives for employment, skilling and other opportunities for 4.1 crore youth over a 5-year period.

1. Scheme A – First Timers: One-month salary of up to `15,000 to be provided in 3 installments to first-time employees, as registered in the EPFO.
2. Scheme B – Job Creation in manufacturing: Incentive to be provided at specified scale directly, both employee and employer, with respect to their EPFO contribution in the first 4 years of employment.
3. Scheme C – Support to employers: Government to reimburse up to `3,000 per month for 2 years towards EPFO contribution of employers, for each additional employee.
4. New centrally sponsored scheme for Skilling
   • 20 lakh youth to be skilled over a 5-year period.
   • 1,000 Industrial Training Institutes to be upgraded in hub and spoke arrangements.
5. New Scheme for Internship in 500 Top Companies to 1 crore youth in 5 years

Nine Budget Priorities in pursuit of ‘Viksit Bharat’:

1. Productivity and resilience in Agriculture
2. Employment & Skilling
3. Inclusive Human Resource Development and Social Justice
4. Manufacturing & Services
5. Urban Development
6. Energy Security
7. Infrastructure
8. Innovation, Research & Development and
9. Next Generation Reforms

Priority 1: Productivity and resilience in Agriculture

• Allocation of `1.52 lakh crore for agriculture and allied sectors.
• New 109 high-yielding and climate-resilient varieties of 32 field and horticulture crops to be released for cultivation by farmers.
• 1 crore farmers across the country to be initiated into natural farming, with certification and branding in next 2 years.
• 10,000 need-based bio-input resource centres to be established for natural farming.
• Digital Public Infrastructure (DPI) for Agriculture to be implemented for coverage of farmers and their lands in 3 years.

Priority 2: Employment & Skilling

• As part of the Prime Minister’s package, 3 schemes for ‘Employment Linked Incentive’ to be implemented – Scheme A – First Timers; Scheme B – Job Creation in manufacturing; Scheme C – Support to employers.
• To facilitate higher participation of women in the workforce,
  • working women hostels and crèches to be established with industrial collaboration
  • women-specific skilling programmes to be organized
  • market access for women SHG enterprises to be promoted

Skill Development

• New centrally sponsored scheme for Skilling under Prime Minister’s Package for 20 lakh youth over a 5-year period.
• Model Skill Loan Scheme to be revised to facilitate loans up to
  `7.5 lakh.
• Financial support for loans upto `10 lakh for higher education in domestic institutions to be provided to youth who have not been eligible for any benefit under government schemes and policies.

Priority 3: Inclusive Human Resource Development and Social Justice

Purvodaya

• Industrial node at Gaya to be developed along the Amritsar-Kolkata Industrial Corridor.
• Power projects, including new 2400 MW power plant at Pirpainti, to be taken up at a cost of `21,400 crore.

Andhra Pradesh Reorganization Act

• Special financial support through multilateral development agencies of `15,000 crore in the current financial year.
• Industrial node at Kopparthy along Vishakhapatnam-Chennai Industrial Corridor and at Orvakal along Hyderabad-Bengaluru Industrial Corridor.

Women-led development

• Total allocation of more than `3 lakh crore for schemes benefitting women and girls.

Pradhan Mantri Janjatiya Unnat Gram Abhiyan

• Socio-economic development of tribal families in tribal-majority villages and aspirational districts, covering 63,000 villages benefitting 5 crore tribal people.

Bank branches in North-Eastern Region

• 100 branches of India Post Payment Bank to be set up in the North East region.

Priority 4: Manufacturing & Services

Credit Guarantee Scheme for MSMEs in the Manufacturing Sector

• A credit guarantee scheme without collateral or third-party guarantee in term loans to MSMEs for purchase of machinery and equipment.

Credit Support to MSMEs during Stress Period

• New mechanism to facilitate continuation of bank credit to MSMEs during their stress period.

Mudra Loans

• The limit of Mudra loans under ‘Tarun’ category to be enhanced to `20 lakh from `10 lakh for those who have successfully repaid previous loans.

Enhanced scope for mandatory onboarding in TReDS

•  Turnover threshold of buyers for mandatory onboarding on the TReDS platform to be reduced from `500 crore to `250 crore.

MSME Units for Food Irradiation, Quality & Safety Testing

• Financial support to set up 50 multi-product food irradiation units in the MSME sector.

E-Commerce Export Hubs

• E-Commerce Export Hubs to be set up under public-private-partnership (PPP) mode for MSMEs and traditional artisans to sell their products in international markets.

Critical Mineral Mission

• Critical Mineral Mission to be set up for domestic production, recycling of critical minerals, and overseas acquisition of critical mineral assets.

Offshore mining of minerals

• Auction of the first tranche of offshore blocks for mining, building on the exploration already carried out.

Digital Public Infrastructure (DPI) Applications

• Development of DPI applications in the areas of credit, e-commerce, education, health, law and justice, logistics, MSME, services delivery, and urban governance.

Priority 5: Urban Development

Transit Oriented Development

• Formulation of Transit Oriented Development plans and strategies to implement and finance 14 large cities above 30 lakh population.

Urban Housing

• Investment of  `10 lakh crore, including the central assistance of `2.2 lakh crore in next 5 years,  under PM Awas Yojana Urban 2.0 proposed to address the , housing needs of 1 crore urban poor and middle-class families.

Street Markets

• New scheme to support the development of 100 weekly ‘haats’ or street food hubs every year for the next 5 years in select cities.

Priority 6: Energy Security

Energy Transition

• Policy document on ‘Energy Transition Pathways’ to balance the imperatives of employment, growth and environmental sustainability to be brought out.

Pumped Storage Policy

• Policy for promoting pumped storage projects for electricity storage to be brought out.

Research and development of small and modular nuclear reactors

• Government to partner with private sector for R&D of Bharat Small Modular Reactor and newer technologies for nuclear energy, and to set up Bharat Small Reactors.

Advanced Ultra Super Critical Thermal Power Plants

• Joint venture proposed between NTPC and BHEL to set up a full scale 800 MW commercial plant using Advanced Ultra Super Critical (AUSC) technology.

Roadmap for ‘hard to abate’ industries

• Appropriate regulations for transition of ‘hard to abate’ industries from the current ‘Perform, Achieve and Trade’ mode to ‘Indian Carbon Market’ mode to be put in place.

Priority 7: Infrastructure

Infrastructure investment by Central Government

• `11,11,111 crore (3.4 % of GDP) to be provided for capital expenditure.

Infrastructure investment by state governments

• Provision of `1.5 lakh crore for long-term interest free loans to support states in infrastructure investment.

Pradhan Mantri Gram SadakYojana (PMGSY)

• Launch of phase IV of PMGSY to provide all-weather connectivity to 25,000 rural habitations.

Irrigation and Flood Mitigation

• Financial support of `11,500 crore to projects such as the Kosi-Mechi intra-state link and other schemes in Bihar.
• Government to provide assistance to Assam, Himachal Pradesh, Uttarakhand and Sikkim for floods, landslides and other related projects.

 Tourism

• Comprehensive development of Vishnupad Temple Corridor, Mahabodhi Temple Corridor and Rajgir.
• Assistance for development of temples, monuments, craftsmanship, wildlife sanctuaries, natural landscapes and pristine beaches of Odisha.

Priority 8: Innovation, Research & Development

• Anusandhan National Research Fund for basic research and prototype development to be operationalised.
• Financing pool of `1 lakh crore for spurring private sector-driven research and innovation at commercial scale.

Space Economy

• Venture capital fund of `1,000 crore to be set up for expanding the space economy by 5 times in the next 10 years.

Priority 9: Next Generation Reforms

Rural Land Related Actions

• Unique Land Parcel Identification Number (ULPIN) or Bhu-Aadhaar for all lands
• Digitization of cadastral maps
• Survey of map sub-divisions as per current ownership
• Establishment of land registry
• Linking to the farmers registry

Urban Land Related Actions

• Land records in urban areas to be digitized with GIS mapping.

Services to Labour

• Integration of e-shram portal with other portals to facilitate such one-stop solution.
• Open architecture databases for the rapidly changing labour market, skill requirements and available job roles.
• Mechanism to connect job-aspirants with potential employers and skill providers.

NPS Vatsalya

• NPS-Vatsalya as a plan for contribution by parents and guardians for minors.

PART B

Indirect Taxes

GST

• Buoyed by GST’s success, tax structure to be simplified and rationalised to expand GST to remaining sectors.

Sector specific customs duty proposals

Medicines and Medical Equipment

• Three cancer drugs namely TrastuzumabDeruxtecan, Osimertinib and Durvalumab fully exempted from custom duty.
• Changes in Basic Customs Duty (BCD) on x-ray tubes & flat panel detectors for use in medical x-ray machines under the Phased Manufacturing Programme.

Mobile Phone and Related Parts

• BCD on mobile phone, mobile Printed Circuit Board Assembly (PCBA) and mobile charger reduced to 15 per cent.

Precious Metals

• Customs duties on gold and silver reduced to 6 per cent and that on platinum to 6.4 per cent.

Other Metals

• BCD removed on ferro nickel and blister copper.
• BCD removed on ferrous scrap and nickel cathode.
• Concessional BCD of 2.5 per cent on copper scrap.

Electronics

• BCD removed, subject to conditions, on oxygen free copper for manufacture of resistors.

Chemicals and Petrochemicals

• BCD on ammonium nitrate increased from 7.5 to 10 per cent.

Plastics

• BCD on PVC flex banners increased from 10 to 25 per cent.

Telecommunication Equipment

• BCD increased from 10 to 15 per cent on PCBA of specified telecom equipment.

Trade facilitation

• For promotion of domestic aviation and boat & ship MRO, time period for export of goods imported for repairs extended from six months to one year.
• Time-limit for re-import of goods for repairs under warranty extended from three to five years.

Critical Minerals

• 25 critical minerals fully exempted from customs duties.
• BCD on two critical minerals reduced.

Solar Energy

• Capital goods for use in manufacture of solar cells and panels exempted from customs duty.

Marine products

• BCD on certain broodstock, polychaete worms, shrimp and fish feed reduced to 5 per cent.
• Various inputs for manufacture of shrimp and fish feed exempted from customs duty.

Leather and Textile

• BCD reduced on real down filling material from duck or goose.
• BCD reduced, subject to conditions, on methylene diphenyl diisocyanate (MDI) for manufacture of spandex yarn from 7.5 to 5 per cent.

Direct Taxes

• Efforts to simplify taxes, improve tax payer services, provide tax certainty and reduce litigation to be continued.
• Enhance revenues for funding development and welfare schemes of government.
• 58 per cent of corporate tax from simplified tax regime in FY23, more than two-thirds taxpayers availed simplified tax regime for personal income tax in FY 24.

Simplification for Charities and of TDS

• Two tax exemption regimes for charities to be merged into one.
• 5 per cent TDS rate on many payments merged into 2 per cent TDS rate.
• 20 per cent TDS rate on repurchase of units by mutual funds or UTI withdrawn.
• TDS rate on e-commerce operators reduced from one to 0.1 per cent.
• Delay for payment of TDS up to due date of filing statement decriminalized.

Simplification of Reassessment

• Assessment can be reopened beyond three years upto five years from the end of Assessment Year only if the escaped income is ₹ 50 lakh or more.
• In search cases, time limit reduced from ten to six years before the year of search.

Simplification and Rationalisation of Capital Gains

• Short term gains on certain financial assets to attract a tax rate of 20 per cent.
• Long term gains on all financial and non-financial assets to attract a tax rate of 12.5 per cent.
• Exemption limit of capital gains on certain financial assets increased to ₹ 1.25 lakh per year.

Tax Payer Services

• All remaining services of Customs and Income Tax including rectification and order giving effect to appellate orders to be digitalized over the next two years.

Litigation and Appeals

• ‘Vivad Se Vishwas Scheme, 2024’ for resolution of income tax disputes pending in appeal.
• Monetary limits for filing direct taxes, excise and service tax related appeals in Tax Tribunals, High Courts and Supreme Court increased to ₹60 lakh, ₹2 crore and ₹5 crore respectively.
• Safe harbour rules expanded to reduce litigation and provide certainty in international taxation.

Employment and Investment

• Angel tax for all classes of investors abolished to bolster start-up eco-system,.
• Simpler tax regime for foreign shipping companies operating domestic cruises to promote cruise tourism in India.
• Safe harbour rates for foreign mining companies selling raw diamonds in the country.
• Corporate tax rate on foreign companies reduced from 40 to 35 per cent.

Deepening tax base

• Security Transactions Tax on futures and options of securities increased to 0.02 per cent and 0.1 per cent respectively.
• Income received on buy back of shares in the hands of recipient to be taxed.

Social Security Benefits.

• Deduction of expenditure by employers towards NPS to be increased from 10 to 14 per cent of the employee’s salary.
• Non-reporting of small movable foreign assets up to ₹20 lakh de-penalised.

Other major proposal in Finance Bill

• Equalization levy of 2 per cent withdrawn.

Changes in Personal Income Tax under new tax regime

• Standard deduction for salaried employees increased from ₹50,000 to ₹75,000.
• Deduction on family pension for pensioners enhanced from ₹15,000/- to ₹25,000/-
• Revised tax rate structure:

• Salaried employee in the new tax regime stands to save up to ₹ 17,500/- in income tax.

2. A green wealth tax in Budget 2024

Sub: Env

Sec: Climate change

What is Wealth Tax? 

• Wealth tax is categorised as a direct tax, targeting individual assets like cash, shares, and property.
• India’s Wealth Tax Act, established in 1957, imposed a 1% tax on earnings exceeding Rs 30 lakh per year. However, due to ineffective implementation, the Act was repealed in 2015. 
• India has seen a rise in billionaires, with 94 new additions, reaching a total of 271. A study by Thomas Piketty highlights extreme wealth disparity in India, indicating the richest 1% hold a disproportionately large share of wealth.
• The EU Tax Observatory, a European tax think tank, has proposed a global minimum tax of 2% on billionaires’ wealth, potentially generating approximately $250 billion annually.

Carbon footprint:

• The World Health Organization (WHO) defines a carbon footprint as a measure of the impact of human activities on the production of carbon dioxide (CO2) resulting from the combustion of fossil fuels. It is quantified in terms of the weight of CO2 emissions produced, measured in tonnes.
• This metric is applicable to individuals, organizations, products, events, and other entities.
• The rising emissions by the Indian elite have been led by their conspicuous consumption of carbon-intensive commodities such as housing, industrial goods, transport and clothing.
• The per capita carbon footprint of the top 10% of the Indian population is almost equal to that of a first world citizen.

Source: TH

3. Supreme Court delivers split verdict on nod for GM mustard

Sub: Sci

Sec: Biotech 

Context:

• The Supreme Court issued a split verdict on the Centre’s 2022 decision to grant conditional approval for the environmental release of genetically modified (GM) mustard crops.

Details:

• Justices B.V. Nagarathna and Sanjay Karol called for the Centre to create a national policy on GM crops, covering research, cultivation, trade, and commerce.
• On October 18, 2022, the Genetic Engineering Appraisal Committee (GEAC) recommended the environmental release of transgenic mustard hybrid DMH-11.

What is DMH-11?

• The full form of DMH is Dhara Mustard Hybrid. It is a genetically modified crop, only second after GM cotton, to get approval for being inducted into the environment for seed production and testing. GM cotton is commercially used in India.
• The signature feature of DMH is that it carries a gene for herbicide resistance. i.e. herbicide tolerant. 
• It has been developed by scientists from the Centre for Genetic Manipulation of Crop Plants (CGMCP), Delhi University.
• They developed the hybrid containing two alien genes isolated from a soil bacterium called Bacillus amyloliquefaciens.
• The barnase-barstar GM technology was deployed to develop DMH-11. The researchers took a popular Indian mustard variety ‘Varuna’ (the barnase line) with an East European ‘Early Heera-2’ mutant (barstar).
• It contains 3 important genes Bargene, Barnase and Barstar, all derived from soil bacterium.
• It would be a high-yielding variety of the mustard crop.
• This is significant because it can help India achieve self-sufficiency in oil production and save on forex. Currently, India is the world’s leading importer of edible oils and more than 50% of the domestic demand for edible oils is met through imports.

Genetic Engineering Appraisal Committee (GEAC):

• It functions under the Ministry of Environment, Forest and Climate Change (MoEF&CC).
• It is responsible for the appraisal of activities involving large-scale use of hazardous microorganisms and recombinants in research and industrial production from the environmental angle.
• The committee is also responsible for the appraisal of proposals relating to the release of genetically engineered (GE) organisms and products into the environment including experimental field trials.
• GEAC is chaired by the Special Secretary/Additional Secretary of MoEF&CC and co-chaired by a representative from the Department of Biotechnology (DBT). Presently, it has 24 members and meets every month to review the applications in the areas indicated above.

Source: TH

4. US Arctic Strategy 2024 to prevent Russia, China from exploiting icy northern region

Sub: IR

Sec: Places in news

Context:

• The new Arctic Strategy 2024 of the US aims to enhance surveillance, intelligence capabilities, and cooperation with allies in the Arctic to counter potential threats from Russia and China.

Details:

• Eight nations have a presence in the Arctic, including Canada, Denmark, Finland, Iceland, Norway, Sweden, the United States and Russia.
  The strategy calls for deploying more ground-based sensors, space-based sensors, and long-range radar to monitor adversary activities.
• It also focuses on increasing unmanned aerial reconnaissance and communication capabilities.
• The accession of Sweden and Finland to NATO strengthens the alliance in the Arctic, leaving Russia as the only non-NATO Arctic nation.
• The strategy envisions increased joint exercises and cooperation to counter Russian and Chinese activities.

Russian and Chinese Activities in the Arctic:

• The US is concerned about Russia’s continued infrastructure investments and China’s increased activities, including joint Russian-Chinese naval patrols near Alaska’s Aleutian Islands.
• China has declared itself a “near-Arctic state,” seeking a greater role in Arctic governance and investing in research expeditions, mining, and gas operations.

India’s Arctic Policy:

• India’s Arctic Policy aims to enhance the country’s cooperation with the resource-rich and rapidly transforming Arctic region.
• The policy also seeks to combat climate change and protect the environment in the region, which is warming three times faster than the rest of the world.
• It was released by the Ministry of Earth Sciences.

There are Six Central Pillars of the Arctic policy:

• Science and research.
• Environmental protection.
• Economic and human development.
• Transportation and connectivity.
• Governance and international cooperation.
• National capacity building.

Objectives of Arctic Policy:

• To strengthen national capabilities and competencies in science and exploration, climate and environmental protection, and maritime and economic cooperation with the Arctic region.
• To strengthen institutional and human resource capacities within the government and academic, research and business institutions through inter-ministerial coordination in pursuit of India’s interests in the Arctic.
• To enhance understanding of the impact of climate change in the Arctic region on India’s climate, economic, and energy security.
• To promote better analysis, prediction, and coordinated policymaking on the implications of ice melting in the Arctic on India’s economic, military and strategic interests related to global shipping routes, energy security, and exploitation of mineral wealth.
• To study the linkages between polar regions and the Himalayas and deepen the cooperation between India and the countries of the Arctic region under various Arctic forums, drawing expertise from scientific and traditional knowledge.
• To increase India’s participation in the Arctic Council and improve understanding of the complex governance structures in the Arctic, relevant international laws, and geopolitics of the region.

India and the Arctic Council

5. Budget provides customs duty exemptions for three cancer treatment drugs

Subject: Sci

Sec: Health

Context:

Union government has continued its emphasis on tackling non-communicable diseases, and allocating funds for research in the healthcare sector, with Finance Minister announcing customs duty exemptions on three cancer treatment drugs — Trastuzumab Deruxtecan, Osimertinib, and Durvalumab.

More about News:

• Changes in the BCD (basic customs duty) on X-ray tubes and flat panel detectors for use in medical X-ray machines under the phased manufacturing programme.
• Total outlay for the health sector was ₹89,287 crore, amounting to 85% of the budget expenditure, marginally up from 1.76%.
• The government is also set to operationalise the Anusandhan National Research Fund for basic research and prototype development.

Cancer drugs:

The three cancer drugs namely Trastuzumab Deruxtecan, Osimertinib and Durvalumab are used for different tumor types viz:-

1. Trastuzumab Deruxtecan – Breast Cancer
2. Osimertinib – Lung Cancer

• Durvalumab – Lung Cancer and Biliary Tract Cancer

Trastuzumab Deruxtecan:

• Trastuzumab is a type of targeted cancer drug called a monoclonal antibody.
• Targeted cancer drugs work by ‘targeting’ those differences that help a cancer cell to survive and grow.
• It is a treatment for cancers that have large amounts of a protein called human epidermal growth factor receptor 2 (HER2).

Osimertinib:

• To treat non-small cell lung cancer (NSCLC) in patients who have certain types of abnormal epidermal growth factor (EGFR) genes.

Durvalumab:

• Durvalumab is used alone or with other drugs to treat adults with certain types of
• Biliary tract cancer (including bile duct cancer and gallbladder cancer)
• Endometrial cancer
• Hepatocellular carcinoma (a type of liver cancer)
• Non-small cell lung cancer

6. Cough syrup samples fail quality tests: central drug regulator’s report

Subject: Sci

Sec: Health

Context:

The CDSCO report classified these batches as “not of standard quality” (NSQ) due to issues with diethylene glycol (DEG), ethylene glycol (EG), assay, microbial growth, pH, and volume. Some of these samples contained the same toxins found in cough syrups linked to the deaths of children in Gambia, Uzbekistan, and Cameroon.

CDSCO:

• CDSCO is the Central Drug Authority for discharging functions assigned to the Central Government under the Drugs and Cosmetics Act, 1940.
  • Major functions of CDSCO:
    • Regulatory control over the import of drugs
    • Approval of new drugs and clinical trials
    • Approval of certain licences as Central License Approving Authority.
  • Ministry: Ministry of Health & Family Welfare
  • Statutory body

– CDSCO is a statutory body established under the Drugs and Cosmetics Act, 1940 and is responsible for regulating the manufacture, sale, and distribution of drugs in India.

Ethylene Glycol and Diethylene Glycol:

• Toxic alcohols with a slightly sweet taste.
• Contamination of cough syrups with these glycols can occur, especially in products containing paracetamol.
  • Paracetamol in cough syrups is good and safe for children with infections. It is a pain killer which is good at reducing fever.
• Diethylene glycol and ethylene glycol are adulterants that are sometimes illegally used as solvents in liquid drugs as an alternative to non-toxic solvents such as glycerine or propylene glycol to cut costs.
  • Symptoms of contamination may not appear until large amounts have been consumed.
• Its use in antifreeze, ethylene glycol is used as an ingredient in hydraulic fluids, printing inks, and paint solvents and diethylene glycol is used in the commercial preparation of antifreeze, brake fluid, cigarettes, and some dyes.

What are the Risks Associated with Substandard Cough Syrups?

• Presence of Harmful Substances:
  • Substandard cough syrups may contain high levels of diethylene glycol and ethylene glycol, which can damage the kidneys and pose a serious health risk.
• Unscientific Combinations:
  • Unscientific combinations of chemical components that can interact with each other and potentially cause harm.
• Lack of Therapeutic Relevance:
• Adverse Effects on Children:
  • Certain cough syrups containing codeine can be addictive and even lethal if given to children. Drowsiness, dizziness, blurred vision, nausea, and difficulty in verbalizing can also be experienced, indicating potential harm.

Regulations in India:

Drugs and Cosmetics Act, 1940:

• • The Drugs and Cosmetics Act, 1940 and Rules 1945 have entrusted various responsibilities to central and state regulators for regulation of drugs and cosmetics.
  • It provides the regulatory guidelines for issuing licenses to manufacture Ayurvedic, Siddha, Unani medicines.
  • It is mandatory for the manufacturers to adhere to the prescribed requirements for licensing of manufacturing units & medicines including proof of safety & effectiveness, compliance with the Good Manufacturing Practices (GMP).

7. Andhra Pradesh to get ₹15,000 crore for capital Amaravati

Subject:  GEO

Sec: Eco geo

Context:

Centre has committed to develop A.P.’s capital Amaravati and would develop the multipurpose irrigation project Polavaram which is supposed to be the lifeline of the State.

More on News:

• Centre of the dismal financial situation in the State owing to irregularities of the past government and sought substantial financial support for the Amaravati Capital, Polavaram project and other infrastructural development in the State.
• To develop the multipurpose irrigation project Polavaram which is supposed to be the lifeline of the State.

Industrial Corridor:

• An industrial corridor is basically a corridor comprising of multi-modal transport services that would pass through the states as main artery.
  • Freight cargo from industrial and National Investment and Manufacturing Zones (NIMZs) located upto a distance of 100-150 km on both sides of this main artery are brought to the industrial corridor via rail and road feeder links that provides last mile connectivity.
  • This will lower costs of logistics and enable firms to focus on their areas of core competence.
• Industrial corridors offer effective integration between industry and infrastructure, leading to overall economic and social development.
• Promotion of industrial development, funds for essential infrastructure such as roads, water, power and railways.

Polavaram Project:

• It is an under-construction multi-purpose irrigation project on the Godavari River in the Eluru District and East Godavari District in Andhra Pradesh.
• The project has been accorded National project status by the Union Government of India.
• Objectives:
  • Development of Irrigation, Hydropower and drinking water facilities in East Godavari, Vishakhapatnam, West Godavari and Krishna districts of Andhra Pradesh. 
  • The project envisages the generation of 960 MW of hydropower, drinking water supply to a population of 28.50 lacks in 611 villages
  • The ultimate irrigation potential of the project is 4.368 lakh ha.
  • The project implements the Godavari-Krishna link under the Interlinking of Rivers project.

Chennai-Vizag industrial corridor:

• The Kopparthy Industrial Node, the corridor between Visakhapatnam and Chennai will be developed on priority basis.
• East Coast Economic Corridor (ECEC) covers West Bengal, Odisha, Andhra Pradesh and Tamil Nadu. Vizag to Chennai segment of this Corridor has been taken as phase-1.
  • Vizag-Chennai Industrial Corridor (VCIC) is the first coastal economic corridor in the country.
  • It covers more than 800 km of Andhra Pradesh’s coastline and is aligned with the Golden Quadrilateral. It also plays a critical role in the “Act East Policy” of India.

8. Drug used to treat clots can protect against cobra venom damage

Subject: Sci

Sec: Health

Context:

• Researchers have found that Tinzaparin has significantly reduced damage to human cells due to spitting cobra venom.

What is snake venom and how does it kill cells?

• Snake venom is a complex mixture of proteins, enzymes, peptides, and other bioactive molecules produced by venomous snakes.
• Peptides found in venom include cytotoxins, cardiotoxins, and neurotoxins, which target specific physiological systems in prey.
• Once the toxins are injected, they can work in several ways depending on the type of snake and toxins like hemotoxins, neurotoxins,myotoxins.

How can blood thinners be an antidote?

• Using CRISPR-Cas9 technique researchers conferred that the genes were involved in facilitating the venom’s effects on normal human cells and the resistance to spitting cobra venom had been conferred by the absence of a gene. 
• Investigation revealed that many of these genes were involved in the synthesis of a sugar compound called heparan sulfate, which is known to regulate the formation of blood vessels and clots in the human body.
• The researchers hypothesize that if the venom’s toxicity depended on the biological pathway that synthesized heparan sulfate, artificially stopping this pathway could ameliorate the venom’s toxic effects.
• One way of doing so is to introduce molecules that closely resemble heparan sulfate ex tinzaparin, a drug used to treat serious blood clots.
• As the body senses an excess of these molecules, it shuts down the pathways responsible for heparan sulfate synthesis.
• Researchers introduced tinzaparin immediately after subjecting cells to the snake venom, the cells survived. 
• Tinzaparin could protect these cells even when it was introduced an hour after the cells had been exposed to the venom.
• Further experiments revealed that tinzaparin worked by blocking the interaction between the venom and its receptor in the cell by binding to venom molecules.