© IE Online Media Services Pvt Ltd
Tags:
Journalism of Courage
Important topics and their relevance in UPSC CSE exam for July 11, 2023. If you missed the July 10, 2023 UPSC key from the Indian Express, read it here
Sebi says tightened FPI regulations, but tax havens pose a global challenge
Syllabus:
Preliminary Examination: Economic and Social Development-Sustainable Development, Poverty, Inclusion, Demographics, Social Sector Initiatives, etc.
Mains Examination: General Studies III: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.
Key Points to Ponder:
• What’s the ongoing story- The Securities and Exchange Board of India (Sebi) has said that despite tightening norms to lift the veil around the ‘opaque structure’ of Foreign Portfolio Investors (FPIs), the regulator has faced a wall since entities actually controlling FPIs are in jurisdictions which leave ambiguity around entities that have economic interest in FPIs, but no ostensible control.
• What do you understand by the ‘opaque structure’ of Foreign Portfolio Investors?
• Why the Supreme Court appointed an expert committee?
• What is Hindenburg Report?
• What do you understand by Foreign Portfolio Investors (FPIs)?
• Foreign Portfolio vs. Foreign Direct Investment: What’s the Difference?
• What do you understand by ‘Domestic Institutional Investors (DIIs)?
• Some experts also attribute “outflow of foreign portfolio investment (FPI) for rupee plunging”-What FPIs’ market exit means?
• How does outflow of foreign portfolio investment impacts the markets and the rupee?
• What will be the effect on the economy?
• For Your Information-An expert committee appointed by the Supreme Court had in May had said that the difficulties experienced by Sebi in identifying holders of economic interest were at least partly because of the repeal, in 2019, of the 2014 provisions on “opaque structures”. The expert committee was set up to investigate if there was violation of the minimum public shareholding norms and if there was a failure to disclose transactions with related parties with respect to the allegations raised by the Hindenburg Report. In its affidavit submitted in the Supreme Court Monday, Sebi said that with the regulatory changes governing FPIs in 2018 and 2019, it had tightened the disclosure requirement for beneficial owners (BOs) of FPIs. Further, according to the regulator, in some cases entities having economic interest in an FPI are in jurisdictions where the equivalent PMLA (Prevention of Money Laundering Act, 2002) regulations require BO identification only on the basis of control or ownership.
Other Important Articles Covering the same topic:
📍Foreign Portfolio vs. Foreign Direct Investment: What’s the Difference?
Concern over minors booked under POCSO: Law panel not for lowering consent age
Syllabus:
Preliminary Examination: Indian Polity and Governance-Constitution, Political System, Panchayati Raj, Public Policy, Rights Issues, etc.
Main Examination: General Studies I: Indian Constitution—historical underpinnings, evolution, features, amendments, significant provisions and basic structure.
Key Points to Ponder:
• What’s the ongoing story-While the Supreme Court and several High Courts have underlined concerns over criminalisation of adolescent sex, the 22nd Law Commission of India is not in favour of lowering the age of consent for minors, The Indian Express has learnt. The Commission is set to release its report on the minimum age of consent under the Protection of Children from Sexual Offences (POCSO) Act. Under the 2012 legislation, the minimum age of consent is 18. Sources indicated that the Commission is likely to recommend awareness measures on adolescent health care including making sex education mandatory and teaching the basics of consent under the POCSO Act in schools.
• What is the Protection of Children from Sexual Offences (POCSO) Act?
• Protection of Children from Sexual Offences (POCSO) Act, 2012- Know the Salient features of the Act and its amendment
• Who is regarded as child as per the provisions of POCSO Act, 2012?
• Why Protection of Children from Sexual Offences (POCSO) Act, 2012?
• What are the challenges associated with child sexual abuse?
• What are the Initiatives, legislations and laws taken by the Government of India in this direction?
• What are the Rights of a child in India as per the Indian Constitution?
• What is ‘Age of Consent’?
• For Your Information-Minors aged between 16 and 18 who engage in a consensual act that may come under the definition of sexual activity under the law run the risk of being booked under POCSO. While these cases of adolescent sex may not necessarily result in conviction of a minor boy, the law is such that it could result in denial of bail and prolonged detention.
• According to the Protection of Children from Sexual Offenses (POCSO) Act of 2012, what age is specified as the “age of consent”?
• Previously, Chief Justice of India D.Y. Chandrachud urged Parliament to review the age of consent under the Protection of Children from Sexual Offenses (POCSO) Act, 2012-Why?
• Do You Know-In December 2022, Chief Justice of India D Y Chandrachud asked lawmakers to look into “growing concern” over criminalisation under the POCSO Act of adolescents who engage in consensual sexual activity. In his keynote address at the National Annual Stakeholders Consultation on Child Protection, CJI Chandrachud said, “As you are no doubt aware, the POCSO Act symbolises all sexual activity for those under the age of 18, regardless of whether consent is factually present between the two minors in a particular case. In my time as a judge, I have observed that this category of cases poses difficult questions for judges across the spectrum.” Courts have routinely flagged cases of minors between the age of 16 and 18, who eloped or engaged in consensual sexual activity, being booked under the POCSO law on a complaint from the girl’s parents. While these cases do not necessarily result in conviction of the minor boy, the stringent law results in denial of bail and protracted incarceration. In December last year, a study by Enfold Proactive Health Trust and UNICEF-India found that one in every four cases under the POCSO Act in West Bengal, Assam and Maharashtra constituted “romantic cases” where the victim was found to be in a consensual relationship with the accused.
• What the 22nd Law Commission of India said on POCSO?
• Why the Law Commission is of the view that lowering the age of consent may be counterproductive for women?
Other Important Articles Covering the same topic:
📍‘25% of POCSO cases are romantic relations’
GOVT & POLITICS
At G20 meet, a Guinness effort to shine light on Karnataka’s Lambani craft
Syllabus:
Preliminary Examination: Current events of national and international importance.
Main Examination: General Studies I: Indian culture will cover the salient aspects of Art Forms, literature and Architecture from ancient to modern times.
Key Points to Ponder:
• What’s the ongoing story-As part of the third G20 culture working group (CWG) meeting in Hampi, a Guinness world record was created on Monday evening for the ‘largest display of Lambani items’. Over 450 women artisans and cultural practitioners from Lambani — a nomadic community inhabiting Karnataka — came together to create embroidered patches with GI-tagged Sandur Lambani embroidery, creating 1,755 patchwork pieces.
• What is Lambani craft?
• When was the Sandur Lambani embroidery granted a Geographical Indication (GI) tag?
• For Your Information-The Lambani embroidery is an intricate form of textile embellishment characterised by colourful threads, mirror-work and stitch patterns practised in several villages of Karnataka such as Sandur, Keri Tanda, Mariyammanahalli, Kadirampur, Sitaram Tanda, Bijapur and Kamalapur. The promotion of this craft will not only preserve a living heritage practice of India but will also support the economic independence of women, officials said, adding that the initiative is congruent with the third priority of the CWG, ‘Promotion of Cultural and Creative Industries and Creative Economy’. It spotlights the rich, artistic tradition of Lambani embroidery, thereby promoting the creative economy of Karnataka and of India, they said. The Lambani craft tradition involves stitching together small pieces of discarded fabric to create a beautiful fabric. The sustainable practice of patch-work is seen in many textile traditions of India and around the world. The embroidery traditions of the Lambanis are shared in terms of technique and aesthetics with textile traditions across Eastern Europe, West, and Central Asia.
Other Important Articles Covering the same topic:
📍Lambani artisans set Guinness World Record for making highest number of embroidery patches
EXPRESS NETWORK
L&T signs pact with Spain firm Navantia to build Navy submarines
Syllabus:
Preliminary Examination: Current events of national and international importance.
Mains Examination:
• General Studies II: Bilateral, regional and global groupings and agreements involving India and/or affecting India’s Interest
• General Studies III: Various Security forces and agencies and their mandate.
Key Points to Ponder:
• What’s the ongoing story- LARSEN & TOUBRO (L&T) on Monday said it has signed a Teaming Agreement with Spain-based Navantia to participate in the Navy’s P75 (India) submarine project and will submit a techno-commercial bid for it. For its dwindling submarine fleet, the Navy is looking to procure six advanced diesel-electric submarines under Project 75 (I).
• India and Spain Relations-Know in detail
• For Your Information-According to MEA Website, Relations between India and Spain have been cordial since the establishment of diplomatic relations in 1956 with our High Commissioner in London concurrently accredited since 1958. A Mission headed by a Cd’A was opened in Madrid in 1958. The first resident Ambassador of India was appointed in 1965. Spain is India´s 8th largest trade partner in Europe. Bilateral trade during January – December 2020 stood at US$ 5.015 billion (MINCOTUR, Govt. of Spain), after crossing the US$ 6 billion mark for the first time in 2018. The Indian community forms a small percentage of the immigrant population of Spain. Among the Asian communities, the Indian Diaspora is the third largest group. The earliest Indian settlers were Sindhis who came from the subcontinent at the end of the 19th century and settled in the Canary Islands. Many others travelled to Spain from Africa in the 1950´s and 1960´s, while others came directly from India. According to Spanish National Statistics Institute INE, the resident Indian origin population in Spain has gone up from 9000 in 2001 to 54387 in 2020. There are 969 Indian students (November, 2019). By and large the Indian community is peaceful and well respected. The main centres of Indian diaspora are Madrid (8000), Barcelona (53000), Valencia (5000), Canary Islands (8000) and Malaga (1000). The Indian community is peaceful and well respected.
• What is the Navy’s Project 75 (I)?
• Do You Know-The Navy’s Project 75 (I) requires the Indian bidder to tie up with a foreign collaborator and execute the programme for delivery of six conventional submarines equipped with Air-Independent Propulsion, while achieving targeted Indigenous Content. This would also be followed by a 30-year life-cycle sustenance contract of similar value. Last month, public sector shipyard Mazagon Dock Shipbuilders Limited (MDL) and Germany’s Thyssenkrupp Marine Systems (TKMS) signed an agreement to be able to bid for producing the advanced submarines under Project 75 (I).
• What are the 6 submarines of Project 75?
• How many Scorpene class submarines are there?
• How are submarines classified?
• What is the history of India’s submarine acquisition?
• Why have there been delays in modernisation?
• What are the current projects underway?
• Why are nuclear submarines so coveted?
• How many does India have?
• What do you understand by Stealth technology?
• What is ‘Project-75’?
• Project -75 and Project-75I-difference between the two?
• Project-75I (India)-Key Features
• Project -75 or Project-75I (India)-Significance
• Defence Acquisition Council-About, Role and Functions
• Other Submarines under Project P75-Know in detail
Other Important Articles Covering the same topic:
📍Explained: India’s submarine strength
📍For a stronger navy, India needs to fast-track the submarine project
THE EDITORIAL PAGE
Syllabus:
Preliminary Examination: Indian Polity and Governance-Constitution, Political System, Panchayati Raj, Public Policy, Rights Issues, etc.
Mains Examination:
• General Studies I: Social empowerment
• General Studies II: Welfare schemes for vulnerable sections of the population by the Centre and States and the performance of these schemes; mechanisms, laws, institutions and Bodies constituted for the protection and betterment of these vulnerable sections
Key Points to Ponder:
• What’s the ongoing story-Arundhati Katju writes: Last month, the United States Supreme Court barred universities like Harvard from using affirmative action policies in college admissions. The case, Students for Fair Admissions, Inc v President and Fellows of Harvard College, struck down more than 50 years of affirmative action policies in American higher education. Elite universities play an outsized role in US politics — 10 of 46 American Presidents have attended Harvard, and five went to Yale. Students for Fair Admissions (SFFA) will prove as influential for American society as when, in 2022, the Supreme Court struck down Roe v Wade, withdrawing abortion rights that American women had enjoyed for almost 50 years.
• Why the United States Supreme Court barred universities like Harvard from using affirmative action policies in college admissions?
• What is diversity, equity, and inclusion?
• What do you understand by affirmative action?
• What is reservation under the Indian Constitution?
• How affirmative action under American law starkly different from reservation under the Indian Constitution?
• For Your Information-Diversity is a benefit enjoyed by an employer or a university, whereas reservation is a fundamental right guaranteed to citizens. Bakke rejected the argument that affirmative action is a reparation for historical discrimination. It also prohibited universities from fixing quotas for different races. By contrast, while the Indian Constitution prohibits discrimination on grounds of race, caste, religion and sex, it also allows the state to pass laws benefitting women, children, socially and educationally backward classes, and Scheduled Castes and Scheduled Tribes. It specifically permits reservation, including quotas.
• When did the American Constitution Equality Clause was introduced?
• Do You Know-Issues of equality in education in America are closely connected to the country’s history of segregation between whites and persons of colour. The American Constitution’s Equality Clause was introduced in 1868 after the Civil War ended slavery in the South. Despite the Equality Clause, the Supreme Court upheld segregation in Plessy v Ferguson (1896), holding that racial segregation did not violate the Equality Clause so long as whites and blacks enjoyed equal facilities. This “separate but equal”doctrine continued until 1954, when Brown v Board of Education struck down segregated schooling.
• What is affirmative action policy in India?
• What is affirmative action in Indian Constitution?
Other Important Articles Covering the same topic:
📍US Supreme Court limits affirmative action in college admissions: What this means
EXPLAINED
Syllabus:
Preliminary Examination: Indian Polity and Governance-Constitution, Political System, Panchayati Raj, Public Policy, Rights Issues, etc.
Mains Examination: General Studies II: Indian Constitution—historical underpinnings, evolution, features, amendments, significant provisions and basic structure.
Key Points to Ponder:
• What’s the ongoing story-The Supreme Court on Tuesday (July 11) said it will begin hearing petitions challenging the changes to Article 370 and downgrading of Jammu & Kashmir state into two Union Territories on August 2, and will then proceed on a day-to-day basis.
• Article 370 of the Indian Constitution-What you about this article?
• How was Article 370 enacted?
• For Your Information-Petitions challenging the August 2019 decision of the Union government last came up in the Supreme Court on March 2, 2020, when a five-judge bench presided by Justice N V Ramana rejected the prayer to refer the petitions to a larger Bench. The court, however, made it clear that its order “is confined to the limited preliminary issue of whether the matter should be referred to a larger Bench” and “have not considered any issue on the merits of the dispute”. The other members on the Bench were Justices Sanjay Kishan Kaul, R Subhash Reddy, B R Gavai and Surya Kant. Justice Reddy retired in January last year and Justice Ramana retired as Chief Justice of India in August 2022. There are as many as 23 petitions relating to the issue pending before the court. They challenge the Presidential orders of August 5 and 6, 2019 as well as The Jammu and Kashmir Reorganisation Act, 2019. The petitions challenge the Presidential Orders of August 5–6, 2019, as well as The Jammu and Kashmir Reorganisation Act, 2019. The August 5 order titled Constitution (Application to Jammu and Kashmir) Order, 2019, was passed in exercise of the power under Article 370(1)(d) of the Constitution, superseding the 1954 Presidential Order that introduced Article 35A, which empowered the state of J&K to define who is a permanent resident and make special laws for them.
• Was Article 370 a temporary provision?
• What specific aspect of Article 370 has been contested before the Supreme Court?
• Quick Recall-A FIVE-JUDGE Supreme Court Bench presided by Chief Justice of India D Y Chandrachud will take up on July 11 petitions challenging the changes to Article 370 of the Constitution, which granted special status to Jammu and Kashmir. According to a notification issued by apex court on Monday, the Bench, which also comprises Justices S K Kaul, Sanjiv Khanna, B R Gavai and Surya Kant, will take up the petitions “for directions”. The pleas also challenge the reconstitution of the former state of Jammu and Kashmir into the Union territories of Jammu and Kashmir and Ladakh.
• What exactly Centre has told the Supreme Court in its affidavit?
• For Your Information-Earlier on Monday, the Centre told the SC in its afidavit that they have “brought unprecedented development, progress, security and stability to the region, which was often missing during the old Article 370 regime” and that this is “testament to the fact that Parliamentary wisdom…” was “exercised prudently”. Chief Justice of India DY Chandrachud said that the affidavit on the present status of Jammu and Kashmir would not have any bearing on the constitutional issues raised in the petitions “and shall not be relied upon for that purpose”.
Other Important Articles Covering the same topic:
📍SC to hear pleas against abrogation of Article 370: Here’s what you need to know
📍Explained: What are Articles 370 and 35A?
📍Explained: What’s changed in Jammu and Kashmir?
The unmaking of Vedanta-Foxconn’s chip dream: what went wrong?
Syllabus:
Preliminary Examination: Economic and Social Development-Sustainable Development, Poverty, Inclusion, Demographics, Social Sector Initiatives, etc.
Mains Examination: General Studies III: Infrastructure: Energy, Ports, Roads, Airports, Railways etc.
Key Points to Ponder:
• What’s the ongoing story-In September 2022, the Centre hailed Vedanta and Foxconn’s semiconductor manufacturing plant in Gujarat as a landmark. Chief Minister Bhupendra Patel and IT Minister Ashwini Vaishnaw attended the signing of an MoU with the state government in Gandhinagar. Less than a year later, the partnership between the two companies to set up the $19.5 billion plant has come to an abrupt halt. Foxconn announced on Monday that it was pulling out of the joint venture with Vedanta.
• Why has Foxconn pulled out of the partnership?
• What about the other proposals?
• Why is chipmaking crucial for India?
• Do You Know-India has identified electronics manufacturing as a key sector to boost its growth in the coming years by producing goods not just for the domestic market, but also for exporting to the world. While some manufacturing schemes, such as that for smartphone manufacturing, have taken off in the country with Apple taking a lead, the entire process is largely centred around assembling various components that are imported from elsewhere. Prime Minister Narendra Modi has made chip manufacturing a top priority for India’s economic strategy as he wants to “usher in a new era in electronics manufacturing” by luring global companies. It is, therefore, clear that building semiconductors domestically is crucial for the government’s vision to develop a domestic electronics supply chain and eventually reduce its imports from foreign countries, especially China – which despite its own challenges remains to be the number one destination for such manufacturing.
• What is semiconductor?
• What is the most basic component of a semiconductor chip?
• Semiconductors are the foundation of nearly every modern electronic gadget. Where does India stand in the semiconductor industry?
• The Government of India has undertaken several initiatives to promote electronics manufacturing-Know the important schemes
• What are the current challenges of the semiconductor industry in India?
• “India’s ambition of manufacturing semiconductor chips seem to have run into a wall”-Discuss
Other Important Articles Covering the same topic:
📍Foxconn pulls out of $19.5-billion chip plan with Vedanta, Govt asks it to set up independent unit
China view on SCO summit: Iran welcome, need to ‘save’ group from India
Syllabus:
Preliminary Examination: Current events of national and international importance.
Mains Examination: General Studies II: Bilateral, regional and global groupings and agreements involving India and/or affecting India’s Interests.
Key Points to Ponder:
• What’s the ongoing story-While the membership of the Shanghai Cooperation Organisation (SCO) is growing — with Iran being the newest entrant at the just-concluded 23rd leaders’ summit in New Delhi — debate is also heating up over the role of India in the China-dominated grouping. India’s association with the SCO began in 2005 as an Observer country, and it became a full Member State at the Astana Summit in 2017. Interestingly, in China, despite the government eventually “allowing” India’s accession, the strategic affairs community was opposed to the membership, comparing India’s role and presence within the grouping to that of Turkey in North Atlantic Treaty Organization (NATO).
• India’s role and presence in Shanghai Cooperation Organisation-Analyse
• What is Shanghai Cooperation Organisation?
• What kind of a grouping is the Shanghai Cooperation Organisation?
• Know the members and observer countries in Shanghai Cooperation Organisation
• Map Work-Mark Shanghai Cooperation Organisation member countries with their capital
• What are the key takeaways from PM Modi’s address to SCO members recently?
• During the SCO summit, which country is inducted as a new member?
• For Your Information-During the SCO summit, Iran was inducted as a new member and President Ebrahim Raisi attended the virtual summit. Modi said they can work towards maximising the utilisation of the Chabahar port. “The International North-South Transport Corridor can serve as a secure and efficient route for landlocked countries in Central Asia to access the Indian Ocean. We should strive to realise its full potential,” he said. An in-person summit was scheduled in New Delhi, but the plan was changed early June. The last in-person SCO summit took place in Samarkand, Uzbekistan in September 2022. The theme of India’s SCO presidency, SECURE, was derived from the acronym given by Modi at the 2018 SCO summit in Qingdao. During its presidency, he said India has created five new pillars and focus areas of cooperation in SCO – startups and innovation, traditional medicine, digital inclusion, youth empowerment and shared Buddhist heritage.
Other Important Articles Covering the same topic:
📍Iran in the SCO: The background, context, and relevance
ECONOMY
Net direct tax mop-up for FY24 up 16% to `4.75 lakh crore till July 9
Syllabus:
Preliminary Examination: Economic and Social Development-Sustainable Development, Poverty, Inclusion, Demographics, Social Sector Initiatives, etc.
Main Examination: General Studies III: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.
Key Points to Ponder:
• What’s the ongoing story- Net direct tax collections grew 15.8 per cent to Rs 4.75 lakh crore from April 1-July 9 this year, an indication of economic activity and tax compliance measures, data released by the income tax department on Monday showed. With this, the government has achieved 26.05 per cent of its total budget estimate of Rs 18.23 lakh crore for 2023-24. The revenue growth rate has improved from last month, when net direct taxes had grown 11.2 per cent till June 17. On a gross basis, collection from direct taxes, which includes income and corporate taxes, grew 14.65 per cent to Rs 5.17 lakh crore. “Direct Tax collection, net of refunds, stands at Rs 4.75 lakh crore which is 15.87 per cent higher than the net collections for the corresponding period of last year,” the statement said.
• What is the net direct tax?
• What is Direct Tax?
• What are the types of taxes in India?
• What is the difference between direct and indirect taxes?
• Examples of direct and indirect taxes?
• How does a direct tax work?
• What is net direct tax collection in India?
• Do you Know-As per the Budget 2023-24, direct tax collections are estimated to be Rs 18.23 lakh crore, out of which Rs 9.22 lakh crore is estimated to come from corporate tax and Rs 9.01 lakh crore from income tax. The government had collected Rs 16.67 lakh crore as direct taxes in FY 2022-23.
• Why Direct tax is important?
• What are the Government initiatives to improve direct taxes and indirect taxes?
Other Important Articles Covering the same topic:
📍What to expect on direct tax in Union Budget 2023
For any queries and feedback, contact priya.shukla@indianexpress.com
The Indian Express UPSC Hub is now on Telegram. Click here to join our channel and stay updated with the latest Updates.
