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27th April, 2024

CBSE, Drone Use, UNHCR, Outer space, UNCTAD, CS3D, Climate promise, Upgradable ATM, Consumer index fund, SBI Card, agri lending, manufacturing fund, NIPFP, Service export, UNESCO, Shenzhou-18, April 25: World Penguin Day, April 25: International Delegate’s Day, April 26: International Chernobyl Remembrance Day, Marrakesh agreement, 19th April: Climate Technology Centre and Network (CTCN) marks its 10th anniversary, limestone, startup ecosystem, Narsingh, Inheritance Tax, Atacama Desert, Zero Shadow Day

  1. CBSE to conduct two board exams from 2025, govt asks board to work out logistics
  2. The government has prolonged the interim approval granted to plant protection companies for utilizing drones to spray specified pesticides, extending it for an additional year from April 18, 2024.
  3. The United Nations High Commissioner for Refugees (UNHCR) initiated the UNHCR Climate Resilience Fund, targeting to raise USD 100 million by 2025 to safeguard refugees and displaced communities from climate change impacts and enhance their involvement in climate-related initiatives.
  4. Russia vetoed a draft resolution brought forth by the United States and Japan in the U.N. Security Council. This resolution aimed to prevent an arms race, particularly with nuclear weapons, from developing in outer space.
  5. To mark its 60th anniversary, the United Nations Conference on Trade and Development (UNCTAD) has been rebranded as “UN Trade and Development”
  6. The European Parliament approved the Corporate Sustainability Due Diligence Directive, moving it one step closer to formal adoption by the European Union.
  7. The UN Development Programme (UNDP) has introduced Climate Promise 2025, an initiative aimed at aiding developing countries in their climate action endeavors.
  8. Hitachi Payment Services has launched India’s first upgradable ATMs wherein, an ATM unit can be converted to a cash recycling machine (CRM) as and when a bank needs it, eliminating the need for a separate CRM. This can be done at a bank branch, and offsite as well.
  9. Groww Mutual Fund, an asset management company (AMC), has received approval from the SEBI to launch India’s inaugural Nifty Non-Cyclical Consumer Index Fund, scheduled for release in the first week of May 2024.
  10. SBI Cards and Payment Services Limited (SBI Card) introduces ‘SBI Card MILES,’ its inaugural travel-centric credit card series, comprising three variants: SBI Card Miles Elite, SBI Card Miles Prime, and SBI Card Miles.
  11. The National Bank for Agriculture and Rural Development (NABARD) said it has partnered with Reserve Bank’s arm RBIH to put in place a system which will enable faster processing of agricultural loans.
  12. HDFC Mutual Fund has introduced the HDFC Manufacturing Fund, designed to primarily invest in shares of companies involved in manufacturing activities.
  13. The Indian economy is projected to achieve a growth rate of 7.1-7.4% in the current fiscal year (FY25), driven by substantial capital expenditure (capex) and government investment in public goods, as per the National Institute of Public Finance and Policy (NIPFP).
  14. Recently the United Nations Conference on Trade and Development (UNCTAD) released the Quarterly bulletin Q4 2023.
  15. Recently the UNESCO releases 2024 gender report of the Global Education Monitoring Report, titled “Technology on her Terms”.
  16. A team of three Chinese astronauts, onboarded a rocket as part of China’s Shenzhou-18 mission, heading towards the Tiangong space station in low earth orbit.
  17. April 25: World Penguin Day
  18. April 25: International Delegate’s Day
  19. April 26: International Chernobyl Remembrance Day
  20. The Marrakesh Agreement establishing the World Trade Organization was signed by 123 countries on 15 April 1994, leading to the birth of the WTO on 1 January 1995.
  21. 19th April: Climate Technology Centre and Network (CTCN) marks its 10th anniversary
  22. NTPC Limited and Rashtriya Ispat Nigam Limited (RINL) have signed a five-year MoU for supplying 9 lakh metric tonnes of limestone.
  23. The Alliance of Digital India Foundation (ADIF) and the Indian Institutes of Technology Guwahati (IITG) Technology Incubation Centre (TIC) have inked a two-year MOU to bolster entrepreneurship and support technology startups.
  24. Former Commonwealth Games gold medalist Narsingh Pancham Yadav was elected as the chairman of the seven member Athletes’ Commission of the Wrestling Federation of India during the ongoing Federation Cup in Varanasi.
  25. Inheritance Tax
  26. A rich microbial “biosphere” lies buried 13 feet (4 meters) beneath the scorched surface of Chile’s Atacama Desert, according to new research. This hidden world of bacteria is one of the deepest found in Atacama soils and could provide valuable insights for the search for life on Mars.
  27. Zero Shadow Day

Table of Content

National News

  1. CBSE to conduct two board exams from 2025, govt asks board to work out logistics
      • What: The Ministry of Education (MoE) has instructed the Central Board of Secondary Education (CBSE) to prepare for the implementation of biannual board exams starting from the 2025-26 academic session.
      • Why: The decision aims to enhance examination flexibility and reduce academic pressure on students by conducting board exams twice a year.
      • Tell me more:
        • Consultations between the ministry, CBSE, and school principals are scheduled to discuss the logistics of implementing biannual board exams.
          Source: Live Mint
  2. Government Extends Interim Approval for Drone Use in Pesticide Spraying
      • What: The government has prolonged the interim approval granted to plant protection companies for utilizing drones to spray specified pesticides, extending it for an additional year from April 18, 2024.
      • Why: The move aims to enhance the application of agrochemicals through drone technology, which offers benefits such as water savings and contributes to precision agriculture
      • Tell me more:
        • This extension aims to facilitate the continued use of drones for spraying plant protection chemicals, adhering to established protocols and standard operating procedures (SOPs) to ensure safety and efficacy.
        • The SOPs for drone usage encompass various aspects such as statutory provisions, permissions, operational guidelines, safety measures, and emergency protocols.
        • Operators must comply with regulations, including using approved pesticides at specified concentrations and heights, providing adequate facilities, and notify the public about aerial
          application of pesticide not less than 24 hours in advance through competent authorities.
          Source: Business Standard

International News

  1. UNHCR Launches Climate Resilience Fund to Protect Refugees
      • What: The United Nations High Commissioner for Refugees (UNHCR) initiated the UNHCR Climate Resilience Fund, targeting to raise USD 100 million by 2025 to safeguard refugees and displaced communities from climate change impacts and enhance their involvement in climate-related initiatives.
      • Tell me more:
        • Fund contributions will expand UNHCR’s climate action to conflict-displaced countries such as Bangladesh, Chad, Ethiopia, Kenya, and Mozambique, supporting activities aligned with UNHCR’s Focus Area Strategic Plan for Climate Action 2024-2030, focusing on protection, solutions, resilience, and adaptation.
        • The Fund will finance climate-resilient shelters, climate-smart livelihoods, and efforts to reduce the environmental footprint of humanitarian responses.
        • Projects will prioritize local involvement, engaging affected communities in project design and implementation, aligning with national climate strategies and development plans.
        • In 2022, over 70% of refugees fled from highly climate-vulnerable nations, with around 60% residing in fragile and conflict-affected countries, among those most susceptible to climate change and least prepared to adapt.
          Source: UNHCR
Knowledge Nuggets -
About UNHCR
- High Commissioner Filippo Grandi,
- Established in 1950,
- Headquarters in Geneva, Switzerland.
  1. Russia vetoes United Nations Security Council draft resolution on a weapon-free outer space
      • What: Russia vetoed a draft resolution brought forth by the United States and Japan in the U.N. Security Council. This resolution aimed to prevent an arms race, particularly with nuclear weapons, from developing in outer space.
        • Weaponization of Outer Space generally refers to physical placement in orbit of space-based machinery that has destructive capacity.
        • This action by Russia has raised concerns about the potential militarization of space.
          Source: UN
  2. UNCTAD rebranded as UN Trade and Development
      • What: To mark its 60th anniversary, the United Nations Conference on Trade and Development (UNCTAD) has been rebranded as “UN Trade and Development”.
      • Why: This strategic move underscores the organization’s commitment to greater impact with a new, clearer visual identity aiming to better reflect its work and values and to amplify its global voice on behalf of developing countries. The rebranding marks a pivotal moment.
        Source: UNCTAD
  1. European Parliament Approves Corporate Sustainability Due Diligence Law (CSDDD or CS3D)
      • What: The European Parliament approved the Corporate Sustainability Due Diligence Directive, moving it one step closer to formal adoption by the European Union.
      • CS3D aims to foster sustainable and responsible corporate behaviour and to anchor human rights and environmental considerations in companies’ operations and corporate governance.
      • Tell me more (Key Features)
        • Companies will also have to adopt a transition plan to make their business model compatible with the Paris Agreement’s global warming limit of 1.5°C. Coverage:
        • EU companies and parent companies with over 1000 employees, a worldwide turnover higher than 450 million euro.
        • Non-EU companies, parent companies and companies with franchising or licensing agreements in the EU reaching the same turnover thresholds in the EU will also be covered.
        • Penalties for violations: It includes “naming and shaming” and fines of up to 5% of companies’ net worldwide turnover.
          Source: European Parliament
  2. UNDP unveiled Climate Promise 2025, next stage of its Climate Promise Initiative
      • What: The UN Development Programme (UNDP) has introduced Climate Promise 2025, an initiative aimed at aiding developing countries in their climate action endeavors.
      • Why: Climate Promise 2025 aims to support more than 125 developing countries in aligning their next generation of national climate pledges, known as ‘Nationally Determined Contributions’ (NDCs),
      • Tell me more:
        • It is an initiative to support developing countries on their climate action.
        • It is world’s largest offer of support to developing countries on NDC (Nationally Determined Contribution) enhancement and implementation.
          • Each Party to Paris Agreement is required to establish an NDC, which includes targets for mitigating the greenhouse gas emissions and for adapting to climate impacts.
          • Climate Promise 2025 aims to align next generation of developing countries’ NDCs to the goals of 2015 Paris Climate Agreement
            Source UNDP

Banking and Economy

  1. Hitachi Payment Services Unveils India’s First Upgradable ATM
      • What: Hitachi Payment Services has launched India’s first upgradable ATMs wherein, an ATM unit can be converted to a cash recycling machine (CRM) as and when a bank needs it, eliminating the need for a separate CRM. This can be done at a bank branch, and offsite as well.
        • Cash Recycling Machines (CRMs) enable recycling of deposited cash for withdrawals and reduces most of these challenges by reducing the cash movement. CRMs need fewer numbers of cash replenishment, thereby reducing cash-in-transit costs, cash sorting and handling costs.
      • Why: Most banks offer deposit services at branches, and withdrawals can happen at off-branch locations. With a way to upgrade ATMs to CRMs, banks eliminate the need to replace ATMs. These machines will be UPI-enabled for cash deposit and withdrawal.
        Source: Economic Times
  2. Groww Mutual Fund to Launch India’s First Nifty Non-Cyclical Consumer Index Fund
      • What: Groww Mutual Fund, an asset management company (AMC), has received approval from the SEBI to launch India’s inaugural Nifty Non-Cyclical Consumer Index Fund, scheduled for release in the first week of May 2024.
        • The Nifty Non-Cyclical Consumer Index strives to mirror the performance of a selection of stocks that represent industries less affected by economic fluctuations. These industries include Consumer Goods, Consumer Services, Telecom, Services, Media, Entertainment, Publication, Textiles, and others. The index selects the 30 largest stocks from these industries based on their average market value over six months as of the end of January and July each year. The weight of each stock in the index is determined by its market value, with no stock allowed to represent more than 10% of the index’s total value.
      • Tell me more:
        • The fund will be managed by Abhishek Jain.
        • Investment Strategy: Primarily investing 95-100% in equities and equity-related securities of companies linked to or anticipated to benefit from consumption activities, with a minor allocation (0-5%) to debt and money market instruments.
        • Minimum Investment: The minimum investment amount will be Rs 500 and in multiples of Re 1 for purchases and of Re 0.01 for switches. For SIP, the minimum amount is Rs 1,200 (subject to a minimum of 12 SIP instalments of Rs 100 each for monthly instalments and Rs 300 for quarterly instalments).
        • Redemption and Exit Load: The minimum redemption amount is Rs 500, with an exit load of 1% applicable for units redeemed within 30 days of allotment. After this period, no exit load is charged.
          Source: Economic Times
Knowledge Nuggets -
About Groww Mutual Fund
- Co-founder & CEO- Lalit Keshre
- Headquarters- Bengaluru, Karnataka
- Establishment- 2017
  1. SBI Card Unveils First Travel-Focused Credit Card Series: ‘SBI Card MILES’
      • What: SBI Cards and Payment Services Limited (SBI Card) introduces ‘SBI Card MILES,’ its inaugural travel-centric credit card series, comprising three variants: SBI Card Miles Elite, SBI Card Miles Prime, and SBI Card Miles.
      • These cards are accessible on both Mastercard and RuPay networks.
        Source: Economic Times

  2. NABARD partners with RBI Innovation Hub to fast-track digital agri lending
      • What: The National Bank for Agriculture and Rural Development (NABARD) said it has partnered with Reserve Bank’s arm RBIH to put in place a system which will enable faster processing of agricultural loans.
      • Why: The digitisation of agricultural lending will ensure instant doorstep delivery of credit to farmers while improving the efficiency of banks, advancing NABARD’s mission of fostering rural prosperity.
      • Tell me more:
        • NABARD has developed the loan origination system portal to facilitate digital Kisan Credit Card (KCC) loan processing for cooperative banks and Regional Rural Banks (RRBs).
        • Agreement entails integration of NABARD’s electronic Kisan Credit Card (e-KCC) loan origination system portal with RBIH’s Public Tech Platform for Frictionless Credit (PTPFC), launched in 2023.
          • The PTPFC has been created by the Reserve Bank Innovation Hub (RBIH), a wholly-owned subsidiary of the central bank. The aim of the pilot project is to connect borrowers and lenders, which will make credit more accessible to millions of individuals looking for small loans.
        • Through the integration with PTPFC, about 351 district and state cooperative banks and 43 RRBs will gain access to a range of services including digital state land records, satellite data, KYC, credit history and transliteration for more effective credit underwriting.
        • Digitization of agricultural lending ensures instant credit delivery to farmers, reducing loan processing time from 3-4 weeks to 5 minutes for 12 crore farmers in India.
        • The PTPFC has seen the participation of over 10 states in making digital land records available to facilitate the seamless flow of credible information for lenders, NABARD said.
        • The pilot phase of the partnership will see implementation in select RRBs including the Karnataka Gramin Bank and Maharashtra Gramin Bank and cooperative banks in Andhra Pradesh, adding, the goal is to scale the digital lending platform to cover about 5 crore KCC loans across all cooperative banks and RRBs nationwide.
          Source: Business Standard
  3. HDFC MF launches HDFC Manufacturing Fund
      • What: HDFC Mutual Fund has introduced the HDFC Manufacturing Fund, designed to primarily invest in shares of companies involved in manufacturing activities.
      • Why: The primary objective of this fund is to unlock the potential of India’s manufacturing sector by predominantly investing in equity and equity-related securities of companies engaged in manufacturing activities
      • Tell me more:
        • The scheme will adopt a market capitalisation-agnostic approach and allocate at least 80% of its assets to stocks within the manufacturing theme. This launch reflects HDFC Mutual Fund’s strategic response to capitalize on opportunities within the manufacturing sector.
        • Mr. Mr. Rakesh Sethia is the fund manager.
          Source: Business Today

GDP Forecasts

  1. Indian Economy Forecasted to Grow at 7.1-7.4% Amid Government Investments
      • What: The Indian economy is projected to achieve a growth rate of 7.1-7.4% in the current fiscal year (FY25), driven by substantial capital expenditure (capex) and government investment in public goods, as per the National Institute of Public Finance and Policy (NIPFP).
      • The National Institute of Public Finance and Policy (NIPFP) is a centre for research in public economics and policies. Founded in 1976, the institute undertakes research, policy advocacy and capacity building in areas related to public economics.

Report and Indices

  1. UNCTAD Q4 2023 Report Highlights Service Export Trends
      • What: Recently the United Nations Conference on Trade and Development (UNCTAD) released the Quarterly bulletin Q4 2023.
      • For the fourth quarter of 2023, the quarter-on-quarter seasonally adjusted growth rate of services exports was estimated at 0.5%, pointing to a slowdown in global services trade over the last few months of 2023.
      • Tell me more (major findings)
        • India’s service exports surged by 11.4% to USD 345 billion in 2023 amidst global economic uncertainty, while China witnessed a 10.1% decline to USD 381 billion; however, China led among developing nations in service exports, followed by India.
          • Sectors that contribute to India’s services export growth include travel, transport, medical and hospitality.
        • With an 8.9 per cent annual rise in current dollar value terms, the world services exports surpassed $7.9 trillion in 2023.
        • The leading exporters among developing economies include India, China, Singapore, Turkiye, Thailand, Mexico, and Saudi Arabia,
        • Leading in service exports were the USA at USD 999 billion, followed by the UK at USD 584 billion and Germany at USD 440 billion among developed economies.
        • International travel receipts were cited as the primary driver for the year-on-year rise in service exports in Q4 2023, with a global increase of 40% and a 70% growth in Asia during the post-COVID-19 recovery.
        • India specific data
          • India’s services imports, however, dipped marginally by 0.4 per cent to $248 billion last year.
          • The main driver of the YoY (year-on-year) rise of services exports in Q4 2023 was the ample growth of international travel receipts. In the post-Covid-19 recovery, travel receipts increased by 70 per cent in Asia (YoY).
          • India’s service exports have historically been concentrated in North America and Europe, but there is also significant potential for growth in emerging markets, such as Asia, Africa, and Latin America.
            Source: Business Standard
  2. UNESCO releases 2024 gender report of the Global Education Monitoring Report
      • What: Recently the UNESCO releases 2024 gender report of the Global Education Monitoring Report, titled “Technology on her Terms”.
      • The report looks at impact of technology on girls’ education opportunities and outcomes, and role of education in shaping of future technological development.
      • Tell me more:
        • Impact of technology on girls’ education:
          • ICT can overcome barriers to education access for girls in crisis context.
            • For instance, in Kenya, M-shule platform delivers education through text
              message without need for internet connection.
        • Digital divide: Girls and women are less able to access technology with 130 million fewer women than men owning mobile phone and 244 million fewer women having Internet access.
          • Social media negatively affects well-being and reinforces gender norms.
          • Greater interaction on social media at age 10 is associated with worsening socioemotional difficulties with age among girls.
          • Cyberbullying is common and is exacerbated by the danger of deepfakes made using AI.
        • Role of Education in shaping technological development:
          • Average share of STEM is 15% among young female graduates and 35% among young male graduates.
          • Underrepresentation in technological design and deployment: In 2022, women held less than 25% of science, engineering and ICT jobs.
          • Negative gender stereotypes, reinforced by low expectations from parents and teachers, impact girls’ STEM aspirations.
        • Recommendations from the report:
          • Establish bodies to evaluate education technology and algorithms, to assess where they may be amplifying negative gender stereotypes or negatively affecting well-being.
          • Encouraging more girls to study towards scientific careers and promote female leadership in artificial intelligence and technology development.
          • Avoid infrastructure-only approaches and invest in genderresponsive education and training programmes to enhance digital literacy and skills for all.
            Source: UNESCO

Science and Tech

  1. China launches 3-member Shenzhou-18 crew to its Tiangong space station
      • What: A team of three Chinese astronauts, onboarded a rocket as part of China’s Shenzhou-18 mission, heading towards the Tiangong space station in low earth orbit.
        • The Tiangong space station is China’s first space station in orbit.

      • Why: This marks the most recent mission in China’s space programme, which is working towards sending astronauts to the Moon by 2030.
      • Tell me more:
        • The Shenzhou-18 spacecraft, also known as the “Divine vessel”.
        • The spacecraft carries mission commander Ye Guangfu, along with crewmates Li Cong, and Li Guangsu.
          Source: Business Standard

Memorandum of Understanding

  1. NTPC and RINL Ink MoU for 9 Lakh Metric Tonnes of Limestone Supply
      • What: NTPC Limited and Rashtriya Ispat Nigam Limited (RINL) have signed a five-year MoU for supplying 9 lakh metric tonnes of limestone.
      • Limestone, sourced as lime chips, a by-product of RINL, will be utilized for flue-gas desulphurisation systems in NTPC’s coal-based thermal plants, aimed at reducing sulphur dioxide (SO2) emissions.
        Source: The Hindu
  2. ADIF and IIT Guwahati TIC Join Forces to Foster Startup Ecosystem
      • What: The Alliance of Digital India Foundation (ADIF) and the Indian Institutes of Technology Guwahati (IITG) Technology Incubation Centre (TIC) have inked a two-year MOU to bolster entrepreneurship and support technology startups.
      • The MOU seeks to enhance the startup ecosystem by facilitating collaboration between ADIF’s network of startups and entrepreneurs and IIT Guwahati’s pool of innovators, faculty, and incubation facilities.
      • ADIF will extend alliance membership to IITG TIC’s portfolio startup companies, granting them access to ADIF’s startup toolkit featuring discounted services, resources, and mentorship opportunities.
        Source: Economic Times

Important Days

  1. April 25: World Penguin Day
      • What: World Penguin Day is celebrated worldwide on April 25 each year, coinciding with the northern migration of Adélie penguins toward Antarctica in search of food as the winter months approach.
        Source: Business Standard
  2. April 26: International Chernobyl Remembrance Day
      • What: International Chernobyl Disaster Remembrance Day is observed every year on 26 April. The day is dedicated to remember the victims of the Chernobyl nuclear disaster.
      • Background: The Chernobyl Nuclear Power Plant exploded on 26 April 1986, spreading a radioactive cloud over the Soviet territory now comprising Belarus, Ukraine, and Russia
        Source: The Quint
  3. April 25: International Delegate’s Day
      • What: The United Nations (UN)’s International Delegate’s Day is annually observed across the globe on 25th April to raise awareness about the role of the representatives and delegates of the Member States to the UN.
        Source: National Day Today
Knowledge Nuggets -
About United Nations (UN):
- Secretary-General- António Guterres
- Headquarters- New York, USA
- Established in- 1945
  1. 15th April: 30th anniversary of the Marrakesh Agreement
      • The Marrakesh Agreement establishing the World Trade Organization was signed by 123 countries on 15 April 1994, leading to the birth of the WTO on 1 January 1995.
      • This momentous agreement marked the culmination of the 8-year-long Uruguay Round of Multilateral Trade Negotiations and officially gave birth to the WTO.
      • About Marrakesh Agreement:
        • It serves as basic framework for trade relations among all WTO members.
        • It expanded the scope beyond trade in goods to trade in services, intellectual property, and other topics.
        • It established modern multilateral trading system, facilitating negotiations, dispute settlement, and economic cooperation among members.
        • It created WTO’s governance, establishing the Ministerial Conference (highest decision making body), General Council, and specialized councils.
          Source: WTO

  2. 19th April: Climate Technology Centre and Network (CTCN) marks its 10th anniversary
      • What: The Climate Technology Centre and Network (CTCN) celebrates a significant milestone as it reaches its 10-year anniversary.
      • Over this decade, the CTCN has played a pivotal role in advancing technology and innovation for adaptation, mitigation, and resilience.
        Source: UNEP
Knowledge Nuggets -
About CTCN
- Headquarters: Copenhagen, Denmark
- Established in 2014, it is the implementation arm of Technology Mechanism of the United Nations Framework Convention on Climate Change.

Appointment

  1. Narsingh elected as the chairman of WFI’s Athletes’ Commission
      • What: Former Commonwealth Games gold medalist Narsingh Pancham Yadav was elected as the chairman of the seven member Athletes’ Commission of the Wrestling Federation of India during the ongoing Federation Cup in Varanasi.
      • Why: Election of the Athletes’ Commission was one of the conditions laid down by the United World Wrestling while revoking the suspension of the WFI in February this year.
      • Tell me more:
        • A total of eight candidates were in the fray to elect seven members of the commission. The elected members then chose Narsingh as the chairman. The other elected members were Sahil (Delhi), Smitha AS (Kerala), Bharti Bhaghei (UP), Khushboo S Pawar (Gujarat), Nikki (Haryana), and Sweta Dubey (Bengal). Nikki was elected as the convener.
        • The commission members were elected for two years.

      • Background
        • In January 2023, Indian female wrestlers-initiated protests demanding an investigation into allegations of sexual harassment by Brij Bhushan Sharan Singh during his tenure as the president of the Wrestling Federation of India (WFI).
          • Seeing this incident, the United World Wrestling (UWW, the international governing body for the sport of amateur wrestling) suspended the WFI. But in February 2024, the suspension was revoked.
        • The United World Wrestling laid the following rules for the elections “The candidates for this commission shall be active athletes or retired for no longer than four years. The voters shall be exclusively athletes. These elections shall take place during trials or any senior national championships where this operation can take place, but no later than July 1, 2024.
          Source: The new Indian Express

Miscellaneous

  1. Inheritance Tax
      • Inheritance tax is levied on property inherited upon an individual’s death.
        • It differs from estate tax, which is levied on the total value of a deceased person’s estate.
        • It is levied by many countries. E.g. Japan (tax rate is 55%), South Korea (tax rate is 50%) etc.
          In India, currently there is no inheritance tax.
        • Earlier, estate duty was imposed in 1953.
          • The tax rate reached up to 85%, making it highly unpopular. Thus, it was abolished in 1985. Similar to Estate duty, gift tax and wealth tax were imposed in India. These were abolished in 1998 and 2015 respectively. However, gift tax was introduced in 2004.
  2. Atacama Desert
      • What: A rich microbial “biosphere” lies buried 13 feet (4 meters) beneath the scorched surface of Chile’s Atacama Desert, according to new research. This hidden world of bacteria is one of the deepest found in Atacama soils and could provide valuable insights for the search for life on Mars.
      • How it will help to find life in Mars.
        • Researchers often use the Atacama Desert as a stand-in for Mars because they have similar harsh conditions. Even though the surface of Mars seems lifeless, there might be tiny life forms hidden underground.
        • New research is helping scientists understand more about this possibility. The Atacama Desert has gypsum deposits, and Mars does too. Gypsum can hold water, which is crucial for life. So, studying how life survives in the Atacama Desert could give us clues about where to look for life on Mars.
          Source: Live science
  3. Zero Shadow Day
      • What: Zero Shadow Day is a captivating astronomical event that occurs in specific latitudes, including Bengaluru.
      • What Is Zero Shadow Day?
        • It occurs when the sun aligns perfectly overhead, causing vertical objects to cast no shadows.
        • This phenomenon occurs twice a year (once during Summer Solstice and once during Winter Solstice) in regions situated between the Tropic of Cancer and the Tropic of Capricorn.
        • The zero shadow days are different for different places.

  • When Does It Happen in Bengaluru?
    • Bengaluru, located at a latitude of approximately 13.0 degrees north, witnesses this captivating event around April 24/25 and again on August 18 each year.
      Source: Live Mint
CEO of Anujjindal.in

About Anuj Jindal

━━━━━
Anuj Jindal, the founder, is an ex-manager from SBI, with an M.Com from Delhi School of Economics. He also has a JRF in Commerce & Management and NET in HRM, along with more than 5 years of experience in the field of Education.

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