9 PM Daily Current Affairs Brief – February 3rd, 2023

Dear Friends,

We have initiated some changes in the 9 PM Brief and other postings related to current affairs. What we sought to do:

  1. Ensure that all relevant facts, data, and arguments from today’s newspaper are readily available to you.
  2. We have widened the sources to provide you with content that is more than enough and adds value not just for GS but also for essay writing. Hence, the 9 PM brief now covers the following newspapers:
    1. The Hindu  
    2. Indian Express  
    3. Livemint  
    4. Business Standard  
    5. Times of India 
    6. Down To Earth
    7. PIB
  3. We have also introduced the relevance part to every article. This ensures that you know why a particular article is important.
  4. Since these changes are new, so initially the number of articles might increase, but they’ll go down over time.
  5. It is our endeavor to provide you with the best content and your feedback is essential for the same. We will be anticipating your feedback and ensure the blog serves as an optimal medium of learning for all the aspirants.
    • For previous editions of 9 PM BriefClick Here
    • For individual articles of 9 PM BriefClick Here

Current Affairs Compilations for UPSC IAS Prelims 2022

Mains Oriented Articles

GS Paper 2

GS Paper 3

Prelims Oriented Articles (Factly)

Mains Oriented Articles

GS Paper 2


Fire and ice – Problem facing Ladakh

Source– The post is based on the article “Fire and ice” published in The Hindu on 3rd February 2023.

Syllabus: GS2- Polity. GS1- Regionalism

Relevance– Regional political issues

News– The people of Ladakh are on agitation for their demands.

What are the demands of agitating people in Ladakh?

They are demanding the inclusion of the region in the Sixth Schedule under Article 244 of the Constitution.

Other demands are restoration of full-fledged Statehood, separate Lok Sabha seats for Leh and Kargil districts and job reservation for locals.

They describe the demands as key to protecting Ladakh’s identity, culture and the fragile environment.

What are the main issues facing Ladakhi people?

Soon after its creation as a UT in August 2019, Ladakh came under a bureaucracy. It has been hostile and unresponsive to the local population.

The constant tussle between locals, elected representatives of two Hill Councils of Kargil and Leh has only widened over the months.

Leh’s political and religious bodies formed the Leh Apex Body in 2020.

In Kargil district, some political parties and Shia Muslim-affiliated seminaries joined hands in November 2020 to form the Kargil Democratic Alliance. It is advocating for re-joining with the erstwhile J&K State and restoration of its special status under Article 370.

What is the response of the centre?

The Centre appears to be in a bind. The two committees appointed by it to reassure the local populations have made little progress in the last two years.

Second committee appointed this year under the Minister of State has only deepened local anger. It has no mandate to address the issues being raised.


Trading more within Asia makes economic sense

Source– The post is based on the article “Trading more within Asia makes economic sense” published in The Hindu on 3rd February 2023.

Syllabus: GS2- Bilateral, Regional and Global Groupings and Agreements

Relevance– Trade and Economic relations across Asia

News– IMF has warned that global trade would slow down from 5.4% in 2022 to 2.4% in 2023. It calls for having a re-look at regional trade across Asia.

What are some facts and statistics about trade South Asia- East Asia Trade?

A recently published paper in an IMF says that a strong base exists for South Asia trading more with dynamic East Asia.

Since the 1990s, South Asia-East Asia trade has gathered pace. It is linked to India’s trade re-aligning towards East Asia through its ‘Look East’ and ‘Act East’ policies, South Asia adopting reforms, and also China offshoring global supply chains to Asia.

The total merchandise trade between South Asia and East Asia grew at about 10% annually between 1990 and 2018 to $332 billion in 2018.

The free trade agreements linking economies in South Asia with East Asia may rise to 30 by 2030.

Regional trade in Asia is recovering after the COVID-19 pandemic. It has opened opportunities for South Asia to participate in global value chains and services trade.

What needs to be done for regional trade integration across Asia?

Reforms in taxation structure– Regional trade integration across Asia can be encouraged by gradually reducing barriers to goods and services trade. Import tariffs and non-tariff measures have risen in several South Asian economies since the 2008 global financial crisis.

Trade opening in South Asia should be calibrated with tax reforms as trade taxes account for much of government revenue in some economies.

Finance for loss making sectors and re-training of workers is also essential to promote gains from trade.

SEZs reforms– There is a need to improve the performance of special economic zones and invest in services SEZs to facilitate exports.

South Asia has over 600 SEZs in operation.These SEZs have a variable record in terms of exports and jobs and fostering domestic linkages.

SEZ reforms in South Asia require macroeconomic and political stability, good regulatory policies towards investors, reliable electricity and 5G broadband cellular technology, and also worker skills.

Comprehensive FTAs– These will eventually lead to the Regional Comprehensive Economic Partnership to provide for a regional rules-based trade.

South Asia is a latecomer to FTAs when compared to East Asia. But, it has made a start with the Japan-India FTA, the Sri Lanka-Singapore FTA and the Pakistan-Indonesia FTA.

South Asian economies need to improve tariff preference use. They need to be better prepared in navigating the complex rules of origin in FTAs and including issues relevant to global supply chains in future FTAs.

Reinvented trade-focused BIMSTEC– It can facilitate stronger trade ties and support the interests of smaller members.

It requires better resourcing its Secretariat, BIMSTEC FTA, trade capacity in smaller economies, and introducing dialogue partner status.

What is the way forward for better integration?

A narrower geographical coverage between South Asia and Southeast Asia may be a building block for trade integration across Asia. The larger economies should facilitate gains from trade to the smaller economies.

There is a need for political will to implement pro-trade policies that can improve the lives of Asians.

India is South Asia’s largest economy and its G-20 presidency can be a good platform to initiate these changes.


System Bails Out – Kappan finally free on bail but many aren’t, in contravention of juridical principles

Source: The post is based on an article “System Bails Out – Kappan finally free on bail but many aren’t, in contravention of juridical principles” published in The Times of India on 3rd February 2023.

Syllabus: GS 2 – Governance

News: The Kerala journalist Siddique Kappan has been freed from jail after 846 days. He was charged with Unlawful Activities (Prevention) Act (UAPA) and the Prevention of Money Laundering Act (PMLA).

This issue highlights the concerns of prisoners who are kept in jails for a long period.

What are the concerns with the Indian laws and prisoners?

SC in recent cases has recalled Justice Krishna Iyer’s 1977 guidance in which he called for “Bail not jail”.

However, many laws like the UAPA discourage bail and even the judiciary goes along with the pre-trial arrest and long hearing, instead of taking the responsibility of preserving the liberty of all citizens.

Furthermore, conviction rates are low in IPC crimes, e.g., 42.4% for murder, 28.6% for rape, and 21.9% for riots. It is the undertrial prisoners which constitute 80% of the country’s prisoners, crowding the jails.

Most victims do not have the legal, financial and emotional resources to fight for themselves and lead out of jail.

However, if courts take action properly, then even these resources wouldn’t be needed by the undertrials.

GS Paper 3


India’s G20 Presidency: LiFE lessons for global markets

Source– The post is based on the article “India’s G20 Presidency: LiFE lessons for global markets” published in The Indian Express on 3rd February 2023.

Syllabus: GS3- Environment

Relevance– Sustainable development

News– The world is facing its first truly global energy crisis, with turbulent markets and sharp price spikes. It is creating difficulties for citizens, businesses and governments.

What is LiFE initiative?

It demonstrates India’s leadership on global issues by promoting sustainable lifestyles and consumption choices worldwide.

LiFE initiative was launched in October 2022 to nudge individual and collective action to protect the environment.

This includes making informed personal choices such as using public transport more, buying electric vehicles, adopting energy-efficient appliances in homes.

What is the importance of LiFE initiative?

LiFE initiative could help lower energy costs, carbon dioxide emissions, air pollution and inequalities in energy consumption. The programme could potentially help put developing and advanced economies alike onto a more sustainable path.

Reducing emissions– IEA analysis shows that if all countries adopt the measures recommended by LiFE, it would reduce global carbon dioxide emissions by more than 2 billion tonnes by 2030.

This will be one-fifth of the emissions reductions needed this decade to put the world on a path to net zero emissions. The measures would also save consumers globally around $440 billion in annual energy bills.

Doesn’t negate the strong policies action– Strong policy actions for expanding clean energy technologies. We need to do many things at once to tackle the world’s environmental challenges while ensuring secure and affordable energy supplies for all.

That is why LiFE’s recommendations become important.

Industries like steel and cement can learn from LiFE by adopting approaches that use resources more efficiently. Increasing the volume of recycled steel can reduce the amount of steel production that needs to be decarbonised.

Combines individual accountability and policy actions– We all need to make the right choices when it comes to the environment and sustainability. These choices should be supported by appropriate infrastructure, incentives or information.

For example, public transport must become more efficient and readily accessible to encourage citizens for its use. Urban planning needs to be optimised so individuals can live closer to work and amenities that reduce commute times and encourage walking and cycling.

Sustainable development– It’s important that the environment should not be prioritised at the expense of India’s broader development agenda. This requires a range of measures. LiFE’s recommendations can help support this.

Global relevance– LiFE shouldn’t be seen as only relevant to India and developing economies. Its lessons are applicable globally. It could make the biggest difference in advanced economies.

The global energy crisis has led to renewed interest in behaviour change and energy efficiency, particularly in advanced economies.

How India’s G20 Presidency represents a unique opportunity to globalise the LiFE initiative?

It provides a knowledge-sharing platform for other leading economies to realise the impact of LiFE’s recommendations on climate change, air pollution and unaffordable energy bills.

G20 makes up nearly 80 per cent of global energy demand. Meaningful changes by its members can make a big difference.


Decluttering the defence budget

Source: The post is based on an article “Decluttering the defence budget” published in Business Standard on 3rd February 2023.

Syllabus: GS 3 – Government Budgeting

Relevance: Budget 2023-24 for the defence

News: The article discusses the shortcomings of the Budget 2023-24 in the defence sector.

What are the shortcomings with the budget in the defence sector?

Decline in budgetary outlay: The defence budget, including pensions to veterans, has for the first time fallen to below two percent of the GDP.

The defence budget showed a rise of 13 percent over the previous year’s budget. However, this rise in the defence budget is only 1.5 percent when compared to the revised estimates for the last year.

Moreover, capital outlay for modernisation and infrastructure development increased to 57 per cent since 2019-20. However, compared to last year’s capital budget allocations, this year’s capex allocation represents a raise of barely 6 percent.

This is inadequate because of prevailing macro-fiscal environment of high inflation and a falling rupee.

Moreover, the defence capital allocations form a part of the capital investment outlay in the Union Budget.

While the capital investment outlay has risen for the third year in a row by 33 percent, the rise in defence capital allocations is not upto the mark.

Inadequate distribution of the budget amongst the three services: The distribution of the capex fund amongst the three services (Airforce, Army, Navy) is not uniform. The allocations would have been made on the basis of roles assigned to each service by National Security Strategy (NSS).

NSS objectives would have made budget allocations more effective because that would determine the kind of warships, equipment, tanks, missiles, etc. needed for the three services.

However, the current budget has allocated non-uniform fund to the three services without keeping in mind these objectives.

Inadequate allocation of the budget to other organization of the defence: The budget allocations for the coast guard, the Jammu & Kashmir Light Infantry and for the Border Roads Organisation is not as expected. These organizations form a part of the defence ministry budget.

Therefore, the budget allocations would have been made according to their role and functions. However, this has not been done.

Hence, it would be better to allow those organizations to have their own demand for grant or to consolidate their allocations along with the consolidation of Defence R&D Organisation budget.


A ‘waterfall’ for insolvency resolution

Source– The post is based on the article “A ‘waterfall’ for insolvency resolution” published in the Business Standard on 3rd February 2023.

Syllabus: GS3- Changes in Industrial Policy and their Effects on Industrial Growth

Relevance– Exit process of the business

News– The Ministry of Corporate Affairs has recently issued a discussion paper inviting comments on the changes it is proposing to further strengthen the IBC.

What is suggested by the discussion paper on strengthening the IBC?

It suggests proceeds up to the liquidation value will be distributed in the order of priority provided in the liquidation waterfall to secured and unsecured creditors.

Any surplus over the liquidation value will be ratably distributed among creditors in the ratio of their unsatisfied claims.

Creditors strike different commercial bargains with the company. All secured creditors have different levels of security interest. Some are undersecured, some are fully secured and some are oversecured.

What are the important provisions in the IBC related to realisation of debt by creditors in the insolvency process?

The insolvency law honours pre-existing contractual relationships between debtors and creditors. Secured creditors have priority claims on their respective security.

In recognition of the amount of security, an undersecured creditor and a fully secured creditor have different entitlements in an insolvency proceeding.

During the rehabilitation stage, the moratorium keeps the security intact. It will be available to the secured creditor during liquidation.

During the liquidation stage, the secured creditor can either take away the security and sell it on its own, or leave it with the liquidator to sell the security and receive the sale proceeds. Insolvency proceedings generally protect the secured claim to the extent of the value of security.

Where the secured creditor’s claim exceeds the value of the security, the excess is treated as an unsecured claim.

Section 52 of the IBC allows a secured creditor to realise the security interest on its own. If realisation exceeds the debts due to the secured creditor, the excess has to be tendered to the liquidator.

When realisation falls short of the debt owed to the secured creditor, the unpaid debt is to be paid by the liquidator in accordance with the waterfall under section 53.

In the waterfall, debts owed to a secured creditor for any amount unpaid following the realisation of security interest ranks lower than the financial debts owed to unsecured creditors.

What are the issues with the liquidation process?

Data shows that the rehabilitation process, on average, realises Rs 177 if the company has assets valued at Rs 100.

Assuming that the creditors have a security interest over all the assets, they would get only Rs 100 if the company is liquidated or they enforce their contracts otherwise.

The surplus of Rs 77 that the rehabilitation process generates is meant to satisfy the unsecured claims of creditors.

The distribution of this excess has been contentious.

In 2019, the legislature and judiciary settled the law that creditors, whether secured or unsecured, should be paid not less than what they would receive in the event of liquidation.

This allows discretion to the Committee of Creditors to distribute the excess. The Committee has not been generous while exercising discretion.

There is a feeling that the excess is being mostly appropriated by members of the Committee.

What is the way forward?

The insolvency law generally reflects public interest choices. The policy of distribution of excess to satisfy unsecured claims should also reflect public interest choice.

Business needs both financial and operational credit, in the interest of availability of credit. Therefore, excess needs to satisfy unsecured claims of financial creditors and operational creditors equitably.

There is even a case for prioritising unsecured claims of operational creditors as they do not sit on the decision-making table.

There is a need to resolve the dispute by distributing liquidation value vertically among financial and operational creditors.

Excess resolution proceeds over the liquidation value can be shared horizontally among all creditors in proportion to their remaining claims.

The National Company Law Appellate Tribunal has urged to consider entitlement for operational creditors, based on the amount realised in the resolution plan over and above the liquidation value.

The discussion paper has essentially proposed a formula on these lines and equates all unsecured claims at par. Implementing this proposal can keep the insolvency proceedings integrated, rather than making it complex.


New income tax regime: A nudge on income tax mustn’t become a shove

Source: The post is based on the article “A nudge on income tax mustn’t become a shove” published in the Livemint on 3rd February 2023.

Syllabus: GS 3 – Government Budgeting.

Relevance: About the new income tax regime.

News: In the Budget 2023-24, the government introduced a new income tax regime.

About the new tax regime on Personal Income Tax

Read here: New tax regime gives spending flexibility

What are the advantages of the new income tax regime?

a) The new tax regime offers no tax-free gaps to park money, b) It suits persons who cannot gather the documents needed to claim deductions, c) Provide greater liberty on what one can do with their salaries, d) Rise in discretionary income could do economy a favour.

What are the concerns associated with the new income tax regime?

-Loss of revenue: The new tweaks are expected to cost the exchequer around ₹37,000 crore in lost revenue next fiscal year.

-The new income tax regime does not phase out India’s old tax regime.

-Few state-run institutions depend on their tax sops for a chunk of their business would protest against the new regime.

Overall, the new regime will offer a case study in behavioural economics of Indians.


The Union budget ticks all the right boxes for India Inc

Source: The post is based on the following articles

“The Union budget ticks all the right boxes for India Inc” published in the Livemint on 3rd February 2023.

“Express View on Budget 2023: Adding it up” published in the Indian Express on 3rd February 2023.

Syllabus: GS 3 – Government Budgeting.

Relevance: Budget 2023-24 is for various sectors.

News: The government has recently presented the Union Budget 2023-24 in Parliament.

What are the major highlights of the Union Budget 2023-24?

Must read: Union Budget 2023-24 Highlights

What are the domestic economic concerns and how does the budget address those?

Read here: Budget 2023 pulls off an artful balance

Why budget 2023-24 is for various sectors?

The budget 2023-24 is a growth-oriented one. For instance, It increases consumption demand by reducing taxes.

Infrastructure is a long-term growth engine. This year’s budget increases infrastructure development by a) Increasing CapEx, b) Continuing the 50-year interest-free loan facility for states, c) Introducing dispute resolution under ‘Vivad se Vishwas’ to settle contractual disputes of government and public sector undertakings, d) Creating an urban infrastructure development fund.

All this will have a multiplier effect on demand and provide an impetus to the private-sector capital expenditure cycle.

For the MSME segment: a) Announced a revamped credit guarantee scheme, b) corporates are incentivized to make timely payments to MSMEs, c) For MSMEs that came up short in executing government contracts during the pandemic, the government has announced a one-time refund of 95% of their forfeited security amounts.

For greener ecosystem: Major thrust planned for green energy

What are some concerns highlighted in budget 2023-24?

-The budget continued scaling down the government’s disinvestment target. For instance, in 2021-22, the budget had pegged proceeds from disinvestment at Rs 1.75 lakh crore. Actual proceeds stood at a mere Rs 13,627 crore. For the coming year, the budget has lowered disinvestment to Rs 51,000 crore.

Not provided a detailed roadmap: The government has chosen not to provide a medium term fiscal roadmap. According to the government, “medium term projections amidst unprecedented global turbulence and headwinds may not be reliable”. But a detailed roadmap would have helped the government to align short-term measures with the goal of achieving medium-term targets.

To sum up, the budget 2023-24 is pro-growth, pro-infrastructure, pro-energy transition and pro-MSMEs as well.


Prelims Oriented Articles (Factly)

Cut in MGNREGS outlay is not a concern: Somanathan

Source: The post is based on the article “Cut in MGNREGS outlay is not a concern: Somanathan” published in The Hindu on 3rd February 2023.

What is the News?

In the Union Budget 2023-24, the Union Government has reduced the allocation for the Mahatma Gandhi National Rural Employment Guarantee Scheme(MGNREGS).

What is the MGNREGA allocation in the Budget 2022-23?

The Finance Minister has allocated Rs 60,000 crore for the scheme, lower than the budgetary estimate of Rs 73,000 crore for 2022-23. 

This is 18% below the current year’s Budget Estimates and almost 33% lower than the Revised Estimates of ₹89,000 crore.

What is the government’s response to the reduction in MGNREGA allocation?

Firstly, government sources have pointed out that expenditure on MGNREGA is need-based, and can always be increased if such a requirement is felt. The Budget allocation, thus, does not mean no more money can be spent on the rural employment scheme.

– However, activists and worker unions claim that by cutting down Budget allocation, the government sends out a notice that it wants to spend less on MGNREGA and hence fewer initiatives are undertaken under the scheme.

Secondly, there have been major increases in allocations this year in the PM Awas Yojana (Grameen) and Jal Jeevan Mission.

– The amount spent on these schemes would obviously have some effect on demand for MGNREGA work as they would be for the same type of people with the similar types of jobs


Health ministry’s fight against sickle cell anaemia to follow Gujarat playbook

Source: The post is based on the article “Health ministry’s fight against sickle cell anaemia to follow Gujarat playbook” published in Economic Times on 2nd February 2023

What is the News?

The Finance Minister has announced that the government will work towards the mission to eliminate sickle-cell anaemia while presenting the Union Budget 2023-24 in Parliament.

What is Sickle Cell Anaemia?

Click Here to read

Sickle Cell Anaemia prevalence in Tribal Population

According to the Ministry of Tribal Affairs, sickle-cell anaemia is widespread among the tribal population in India where about 1 in 86 births among STs have Sickle Cell Anaemia.

There are approximately 200 districts in the country where the disease is prevalent, mostly in Maharashtra. Madhya Pradesh, Chattisgarh, Gujarat, Rajasthan, Jharkhand and Odisha.

In 2020, the Ministry of Tribal Affairs launched the Sickle Cell Disease Support Corner to bridge the gap between patients and health care services in tribal areas. 

How is the Government of India planning to tackle Sickle Cell Anaemia in Tribal population?

The Government of India is planning to launch a mission to eliminate sickle cell disease by 2047. 

The mission will entail awareness, creation and universal screening of seven crore tribal people in the age group of 0 to 40 years in tribal areas and counselling through effective measures of ministries and state government.

The screening programme will be done in approximately 200 districts. The screening will be done through point tests.

Both men and women will be tested and if both are found positive, adequate counselling will be given to them, including the fact that they should not indulge in matrimony with each other as their children could also be seen carrying the same disease. The colour-coded card will help identify this.

The funds for the mission will be disbursed through the National Health Mission, and states will receive 60% of the funds from the central government and 40% from state contributions.


CITES database reveals red sanders smuggling

Source: The post is based on the article “CITES database reveals red sanders smugglingpublished in The Hindu on 3rd February 2023

What is the News?

The CITES trade database has recorded 28 incidents of red sanders confiscation, seizure and specimens from the wild being exported from India.

What is Red Sanders?

Red Sanders(Pterocarpus santalinus) is an Indian endemic tree species with a restricted geographical range in the Eastern Ghats.

Read more: Red Sanders 

Threats: Red sanders is under severe pressure from illegal logging and harvesting. Its heartwood is in demand in both domestic and international markets and is used to make furniture and handicrafts, while the red dye obtained from the wood is used as a colouring agent in textiles and medicines. 

What are the steps taken to tackle Red Sanders smuggling?

Enforcement agencies such as the Forest Department, Customs, Railways, Police, DRI (Directorate of Revenue Intelligence) and Coast Guard must coordinate efforts to curb Red Sanders trafficking by sharing information on hotspots and transit routes and real-time intelligence.

Read more: DRI seizes Red Sanders worth Rs. 11.70 crore under “Operation Rakth Chandan”

No bar on contesting two seats in one poll

Source: The post is based on the article “No bar on contesting two seats in one pollpublished in The Hindu on 3rd February 2023

What is the News?

The Supreme Court has refused to set aside a provision in the election law which allows candidates to contest polls from two constituencies simultaneously.

What was the case about?

A petition was filed in the Supreme Court to declare Section 33(7) of the Representation of People Act invalid and ultra vires.

Note: As per Section 33(7) of the RPA (Representation of the People Act), 1951, one candidate can contest from a maximum of two constituencies.

What is the government’s stand on one candidate contesting from two seats?

The Union Government had argued that law cannot curtail the right of a candidate to contest elections and curtail the polity’s choice of candidates.

The government had further told the Supreme Court that one-candidate-one-constituency restriction would require a legislative amendment.

What are the concerns associated with one candidate contesting from two seats?

When a person contests election from two constituencies and wins from both, then he/she vacates the seat in one of the two constituencies.

The consequence is that a by-election would be required from one constituency involving avoidable expenditure on the conduct of that by-election.

What are the suggestions of the Election commission on one candidate contesting from two seats?

Election Commission has suggested:

The law should be amended to provide that a person cannot contest from more than one constituency at a time or 

The candidate should deposit an amount of ₹5 lakh for contesting in two constituencies in an Assembly election or ₹10 lakh in a general election. The amount would be used to cover the expenses for a by-election in the eventuality that he or she was victorious in both constituencies and had to relinquish one.


Union Budget 2023-24: Push for ELS cotton yield to reduce imports

Source: The post is based on the article “Union Budget 2023-24: Push for ELS cotton yield to reduce imports” published in The Hindu on 3rd February 2023

What is the News?

The Budget has proposed to enhance the productivity of extra-long staple (ELS) cotton through public-private partnerships. This is meant to lower the import dependence on a growing cotton variety that is in demand and can produce high-quality yarn.

What is Extra-long staple(ELS) cotton?

ELS denotes a category of cotton fibre with a staple length of between 32-36 mm.

But in India, of the cotton produced, the ma­j­o­rity is 26-30 mm. Of this almost 80% is 29 mm, which is considered medium-grade.

In India, of the domestic consumption of around 31 milli­on bales, ELS cotton accounts for just around 1 million. But here too the domestic production of ELS cotton, according to industry players, is 350,000-400,000 bales. This means 600,000 bales need to be imported annually.

Egypt, the US, and Australia are the largest producers of ELS cotton. In India ELS cotton is priced 35-40% more than normal cotton because of its high quality.

It is this import of ELS Cotton that the Budget announcement seeks to cut through boosting domestic production.

Note: A cotton bale is defined as being refined cotton, packaged at a particular size, manageable for use by modern production methods.


Budget 2023: 80,000 start-ups exempt from angel tax, says gov

Source: The post is based on the article “Budget 2023: 80,000 start-ups exempt from angel tax, says gov” published in Business Standard on 3rd February 2023

What is the News?

The Finance Minister has made several announcements related to the startup sector in the Union Budget 2023-24.

What are the announcements made in the Budget related to Startups?

Firstly, startups “registered” with the Department of Promotion of Industry and Internal Trade (DPIIT) are exempt from the “angel tax”.

– Note: The “registered” should not be mistaken to be “certified”.The certified ones will have to pay additional taxes.

Secondly, Indian startups raising capital from foreign investors such as SoftBank, Sequoia Capital will also now have to pay angel tax. This means that now non-residents will also come under the purview of angel tax.

– Till now these provisions were applicable only to local resident investors, but the ambit has been expanded as part of the government’s anti-tax avoidance move.

– This move could squeeze funding into the startup sector facing a liquidity crunch and may prompt more startups to shift overseas.

What is Angel Tax?

Angel tax is a term used to refer to the income tax payable on capital raised by unlisted companies via an issue of shares where the share price is seen in excess of the fair market value of the shares sold. The excess realization is treated as income and taxed accordingly. 

The tax was introduced in the 2012 Union Budget by the then finance minister e to arrest the laundering of funds. 

It has come to be called angel tax since it largely impacts angel investments in startups.

Note: An angel investor is usually a high-net-worth individual who funds startups at the early stages, often with their own money.


Tamil Nadu’s proposed Pen Monument to Karunanidhi’s memory — the plan and the criticism

Source: The post is based on the article Tamil Nadu’s proposed Pen Monument to Karunanidhi’s memory — the plan and the criticismpublished in Indian Express on 3rd February 2023.

What is the News?

A public hearing for the proposed ‘Pen Monument’ in memory of late Tamil Nadu chief minister and DMK patriarch M Karunanidhi ran into a controversy.

What is a Pen Monument?

The Pen Monument is a memorial being proposed to be built off Marina beach standing in the Bay of Bengal.

The memorial pays tribute to Karunanidhi, one of the most influential figures in Tamil Nadu and Dravidian politics. Apart from being president of the DMK from 1969 to 2018, he was also the Chief Minister of Tamil Nadu for five terms between 1969 and 2011. He also made significant contributions to Tamil literature as an orator, poet, and writer of non-fiction and fiction, plays, and films.

The memorial is in the shape of a pen representing his many contributions to Iyal (poetry and literature), Isai (music), and Naadagam (theatre), the three fundamental pillars of both ancient and contemporary Thamizh or Tamil.

The design of the monument is based on the Veena, a traditional Carnatic musical instrument that is handmade in Tamil Nadu with extreme precision.

What are the environmental concerns related to the proposed Pen Monument?

An environmental impact assessment done by the Tamil Nadu Pollution Control Board(TNPCB) has said there are no sensitive marine flora and fauna species such as coral reefs, sea grass, or Olive Ridley turtles in the vicinity of the proposed monument.

However, critics of the project are slamming the proposal as a waste of taxpayers’ money and one that can potentially damage marine life close to the proposed site.


Current insight on the mechanisms of Cobra venom cytotoxins can help anti-venom therapy

Source: The post is based on the articleCurrent insight on the mechanisms of Cobra venom cytotoxins can help anti-venom therapypublished in PIB on 3rd February 2023

What is the News?

Scientists have traced the mechanisms of the toxic action of cobra venom paving a path towards developing strategies for application of antivenom which can help mitigate the local toxic effects of cobra venom retained at the bite site.

What is Cobra?

Cobra is a species of highly venomous snake. It is widely distributed over Asia and Africa.

Cobra bites are responsible for large mortality and morbidity on these continents, including the Indian sub-continent. 

Like other elapid venoms, cobra venoms are neurotoxic in nature. However, they also exhibit local cytotoxic effects at the envenomed site and the extent of cytotoxicity may vary from species to species.

What have the scientists developed against cobra venom?

Cytotoxins (CTXs), non-enzymatic three-finger toxin is present in cobra venoms. It is contributing to about 40 to 60% of the cobra venom proteome and plays a significant role in cobra venom-induced toxicity.

Scientists have traced the mechanism of cobra venom CTXs. This will help in developing strategies for application of antivenom or small molecule inhibitors which can help mitigate the local toxic effects of cobra venom retained at the bite site.


Get to know about macrosomia, the condition that creates gigantic babies

Source: The post is based on the article “Get to know about macrosomia, the condition that creates gigantic babies” published in Economic Times on 2nd February 2023

What is the News?

A mother in Brazil recently gave birth to a two-foot-tall baby weighing 7.3kg. This is called as Macrosomia.

Note: A newborn boy typically weighs 3.3kg and girls 3.2kg.

What is Macrosomia?

Macrosomia is a term used to describe giant babies. Any baby that weighs more than 4kg, regardless of its gestational age, is said to have macrosomia.

Babies with macrosomia account for about 12% of births. 

What are the factors that cause Macrosomia?

Mother’s body weight: Obese mothers are more likely to have children with Macrosomia.

Mothers with gestational diabetes: High blood sugar that arises during pregnancy, also increases the risk of Macrosomia.

Being older when pregnant also increases the odds of having a baby with macrosomia.

Overdue pregnancies: Those that run past the typical 40 weeks – also increase the risk of a baby being macrosomic, particularly at 42 weeks or more.

Previous pregnancies increase the risk of macrosomia because, with each successive pregnancy, birth weight increases.

Having a boy increases the likelihood of macrosomia. Boys are three times more likely than girls to be born with macrosomia.

What is the impact of Macrosomia?

Babies with macrosomia are more likely to encounter difficulties moving through the birth canal because of their large size. For example, it is quite common for the baby’s shoulder to get caught behind the mother’s pubic bone. The medical term for this is “shoulder dystocia“.

Mothers are also at increased risk of vaginal tear during delivery, which then increases the risk of postpartum hemorrhage (bleeding). Postpartum hemorrhage is the leading cause of maternal death worldwide, and hence the larger the baby, the greater the risk of damage during normal vaginal delivery.


[Download] New 10 PM Weekly Compilation – March 2024 – 3rd week

Hello, everyone. We are posting a Compilation of the 10 pm current affairs quiz – March 2024 – 3rd week for practice of current affairs. All Questions have been framed based on the format of 2024 UPSC prelims exam. The compilation has been arranged based on the Prelims syllabus. Click on the following link to download… Continue reading [Download] New 10 PM Weekly Compilation – March 2024 – 3rd week

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[UPSC Interview 2023] – Transcript #160: Dinesh Dasa sir Board, Agriculture Optional, Rajasthan Home State

Date of Interview: 29 Feb Board: Dinesh Dasa sir Optional: Agriculture Home State: Rajasthan Keyword- Agriculture, Rajasthan Duration: 30-35 min To view all IAS Interview Transcripts 2023, visit this page Chairman I ll give you one statement reflect on it Gm crops are good but we degrading our genetic biodiversity Tell me why onion inflation is… Continue reading [UPSC Interview 2023] – Transcript #160: Dinesh Dasa sir Board, Agriculture Optional, Rajasthan Home State

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[UPSC Interview 2023] – Transcript #159: Lt, Gen Raj Shukla Board, PSIR Optional, Bihar Home State

Date of Interview: 19th Feb, Bihar Board: Lt, Gen Raj Shukla Optional: PSIR Home State: Bihar Background: IIT Roorkee Key words: IIT Roorkee , Bihar, patent office(DAF) Last to go forenoon session To view all IAS Interview Transcripts 2023, visit this page Chairman Discussion on Electoral bond. Issue with SC decision on bond Alternative to electoral… Continue reading [UPSC Interview 2023] – Transcript #159: Lt, Gen Raj Shukla Board, PSIR Optional, Bihar Home State

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[UPSC Interview 2023] – Transcript #158: Bidyut Behari Swain Board, Commerce & Accountancy Optional, Arunachal Pradesh Home State, JRF, writing Hobbies

Date of Interview: 28-02-24 (forenoon) Board: Bidyut Behari Swain Optional: Commerce & Accountancy Home State: Arunachal Pradesh Hobbies: Writing (others not asked) Daf- JRF, writing Time- around 35 mins To view all IAS Interview Transcripts 2023, visit this page Chairman Tell me about Arunachal Pradesh, Tripura (I am from NE) Tell me about JRF How to boost… Continue reading [UPSC Interview 2023] – Transcript #158: Bidyut Behari Swain Board, Commerce & Accountancy Optional, Arunachal Pradesh Home State, JRF, writing Hobbies

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Must Read Daily Current Affairs Articles 28th March 2024

About Must Read News Articles is an initiative by Team ForumIAS to provide links to the most important news articles of the day. It covers The Hindu newspaper. This saves the time and effort of students in identifying useful and important articles. With newspaper websites requiring a paid subscription beyond a certain number of fixed… Continue reading Must Read Daily Current Affairs Articles 28th March 2024

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Ace CSE 2024 Prelims with ForumIAS All-India Simulator Tests!

Dear CSE 2024 Aspirants,   Prelims 2024 has been postponed by almost a month. While this shift might have disrupted some of your plans, it also presents an invaluable opportunity to further refine your preparation and approach the examination with even greater confidence. Therefore, to capitalize on this opportunity, you need a thorough practice, to… Continue reading Ace CSE 2024 Prelims with ForumIAS All-India Simulator Tests!

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[UPSC Interview 2023] – Transcript #157: Sanjay Verma Board, Sociology Optional, Maharashtra Home State, Teaching Hobby

Date of Interview: 28-02-24 (forenoon) Board: Sanjay Verma Sir Optional: Sociology Home State: Maharashtra Hobby: Teaching DAF- Maharashtra,  Civil engg graduate, solid waste management, teaching, Sociology optional To view all IAS Interview Transcripts 2023, visit this page Chairman It was quite a long wait for you. How was your experience As you are from Maharashtra, have… Continue reading [UPSC Interview 2023] – Transcript #157: Sanjay Verma Board, Sociology Optional, Maharashtra Home State, Teaching Hobby

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Better utilization of fertilizer and food subsidies: Basic subsidies can be climate focused and aimed better

Source: The post better utilization of fertilizer and food subsidies has been created, based on the article “Basic subsidies can be climate focused and aimed better” published in “Live mint” on 27th March 2024. UPSC Syllabus Topic: GS Paper 3-economy- Issues related to direct and indirect farm subsidies and minimum support prices. News: The article… Continue reading Better utilization of fertilizer and food subsidies: Basic subsidies can be climate focused and aimed better

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Unified Metropolitan Transport Authority (UMTA): Indian cities cry out for UMTA

Source: The post Unified Metropolitan Transport Authority (UMTA) has been created, based on the article “Indian cities cry out for UMTA” published in “Business standard” on 27th March 2024. UPSC Syllabus Topic: GS Paper 3- economy- infrastructure News: The article discusses the need for Indian cities to create a Unified Metropolitan Transport Authority (UMTA). This… Continue reading Unified Metropolitan Transport Authority (UMTA): Indian cities cry out for UMTA

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The shift in India’s foreign policy language – How Delhi talks to world

Source: The post India’s foreign policy language has shifted from being defensive to more assertive and confident has been created, based on the article “How Delhi talks to world” published in “Indian express” on 27th March 2024. UPSC Syllabus Topic: GS Paper 2-International Relations-Bilateral, regional and global groupings and agreements involving India and/or affecting India’s… Continue reading The shift in India’s foreign policy language – How Delhi talks to world

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