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The Current Affairs questions are based on sources like ‘The Hindu’, ‘Indian Express’ and ‘PIB’, which are very important sources for UPSC Prelims Exam. The questions are focused on both the concepts and facts. The topics covered here are generally different from what is being covered under ‘Daily Current Affairs/Daily News Analysis (DNA) and Daily Static Quiz’ to avoid duplication. The questions would be published from Monday to Saturday before 2 PM. One should not spend more than 10 minutes on this initiative.
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Irular and Narikurava communities belong to which of the following Indian state?
Solution (a)
The Narikuravar is an indigenous community from Indian state of Tamil Nadu.
During British rule in India Narikuravar were placed under the Criminal Tribes Act of 1871, and hence stigmatized for a long time, including after Independence. However, they were denotified in 1952, though the stigma continues.
Irula, also known as Iruliga, are a Tamizhian ethnic group inhabiting the Indian states of Tamil Nadu, Kerala and Karnataka. A scheduled tribe, their population in this region is estimated at around 200,000 people. People of Irula ethnicity are called Irular, and speak Irula, which belongs to the Dravidian family.
Article Link:
Solution (a)
The Narikuravar is an indigenous community from Indian state of Tamil Nadu.
During British rule in India Narikuravar were placed under the Criminal Tribes Act of 1871, and hence stigmatized for a long time, including after Independence. However, they were denotified in 1952, though the stigma continues.
Irula, also known as Iruliga, are a Tamizhian ethnic group inhabiting the Indian states of Tamil Nadu, Kerala and Karnataka. A scheduled tribe, their population in this region is estimated at around 200,000 people. People of Irula ethnicity are called Irular, and speak Irula, which belongs to the Dravidian family.
Article Link:
Consider the following statements with respect to The Smart Anti-Airfield Weapon (SAAW)
Which of the statements given above is/are correct?
Solution (c)
The DRDO Smart Anti-Airfield Weapon (SAAW) is a long-range precision-guided anti-airfield weapon developed by India’s Defence Research and Development Organisation (DRDO). It is designed to be capable of engaging ground targets with high precision up to a range of 100 kilometres (62 mi).
In September 2020, SAAW was approved for procurement by the Indian Government for the Navy and the Air Force
The SAAW has been developed by the Research Centre Imarat (RCI), and other DRDO laboratories in collaboration with the Indian Air Force (IAF). It is a lightweight high precision guided bomb designed to destroy ground targets, such as runways, bunkers, aircraft hangars and other reinforced structures
Article Link:
https://www.thehindu.com/todays-paper/tp-national/drdo-iaf-jointly-test-smart-anti-airfield-weapon/article37332817.ece
https://en.wikipedia.org/wiki/DRDO_Smart_Anti-Airfield_Weapon
Solution (c)
The DRDO Smart Anti-Airfield Weapon (SAAW) is a long-range precision-guided anti-airfield weapon developed by India’s Defence Research and Development Organisation (DRDO). It is designed to be capable of engaging ground targets with high precision up to a range of 100 kilometres (62 mi).
In September 2020, SAAW was approved for procurement by the Indian Government for the Navy and the Air Force
The SAAW has been developed by the Research Centre Imarat (RCI), and other DRDO laboratories in collaboration with the Indian Air Force (IAF). It is a lightweight high precision guided bomb designed to destroy ground targets, such as runways, bunkers, aircraft hangars and other reinforced structures
Article Link:
https://www.thehindu.com/todays-paper/tp-national/drdo-iaf-jointly-test-smart-anti-airfield-weapon/article37332817.ece
https://en.wikipedia.org/wiki/DRDO_Smart_Anti-Airfield_Weapon
Consider the following statements with respect to An Infrastructure Investment Trust (InvITs):
Which of the statements given above is/are correct?
Solution (a)
An Infrastructure Investment Trust (InvITs) is like a mutual fund, which enables direct investment of small amounts of money from possible individual/institutional investors in infrastructure to earn a small portion of the income as return.
The InvITs are regulated by the SEBI (Infrastructure Investment Trusts) Regulations, 2014
InvITs can be established as a trust and registered with Sebi. An InvIT consists of four elements: 1) Trustee, 2) Sponsor(s), 3) Investment Manager and 4) Project Manager.
Article Link:
https://economictimes.indiatimes.com/definition/infrastructure-investment-trusts
https://www.thehindu.com/todays-paper/tp-business/canada-funds-to-pick-up-50-in-nhai-invit/article37332577.ece
Solution (a)
An Infrastructure Investment Trust (InvITs) is like a mutual fund, which enables direct investment of small amounts of money from possible individual/institutional investors in infrastructure to earn a small portion of the income as return.
The InvITs are regulated by the SEBI (Infrastructure Investment Trusts) Regulations, 2014
InvITs can be established as a trust and registered with Sebi. An InvIT consists of four elements: 1) Trustee, 2) Sponsor(s), 3) Investment Manager and 4) Project Manager.
Article Link:
https://economictimes.indiatimes.com/definition/infrastructure-investment-trusts
https://www.thehindu.com/todays-paper/tp-business/canada-funds-to-pick-up-50-in-nhai-invit/article37332577.ece
Consider the following statements:
Which of the statements given above is/are correct?
Solution (c)
The Production Linked Incentive (PLI) Scheme on White Goods is designed to create complete component ecosystem for Air Conditioners and LED Lights Industry in India and make India an integral part of the global supply chains.
Only manufacturing of components of ACs and LED Lights will be incentivized under the Scheme.
White goods refer to heavy consumer durables or large home appliances, which were traditionally available only in white.
They include appliances such as washing machines, air conditioners, stoves, refrigerators, etc.
As the name suggests, the scheme provides incentives to companies for enhancing their domestic manufacturing apart from focusing on reducing import bills and improving the cost competitiveness of local goods.
PLI scheme offers incentives on incremental sales for products manufactured in India.
Article Link:
https://economictimes.indiatimes.com/industry/cons-products/durables/42-firms-selected-under-pli-scheme-for-white-goods/articleshow/87511306.cms\
Solution (c)
The Production Linked Incentive (PLI) Scheme on White Goods is designed to create complete component ecosystem for Air Conditioners and LED Lights Industry in India and make India an integral part of the global supply chains.
Only manufacturing of components of ACs and LED Lights will be incentivized under the Scheme.
White goods refer to heavy consumer durables or large home appliances, which were traditionally available only in white.
They include appliances such as washing machines, air conditioners, stoves, refrigerators, etc.
As the name suggests, the scheme provides incentives to companies for enhancing their domestic manufacturing apart from focusing on reducing import bills and improving the cost competitiveness of local goods.
PLI scheme offers incentives on incremental sales for products manufactured in India.
Article Link:
https://economictimes.indiatimes.com/industry/cons-products/durables/42-firms-selected-under-pli-scheme-for-white-goods/articleshow/87511306.cms\
Which of the following statements is/are correct regarding GST compensation?
Select the correct answer using the code given below:
Solution (c)
What is the GST compensation?
The Constitution (One Hundred and First Amendment) Act, 2016, was the law which created the mechanism for levying a nationwide GST.
Written into this law was a provision to compensate the States for loss of revenue arising out of implementation of the GST.
The adoption of the GST was made possible by the States ceding almost all their powers to impose local-level indirect taxes and agreeing to let the prevailing multiplicity of imposts be subsumed under the GST.
While the States would receive the SGST (State GST) component of the GST, and a share of the IGST (Integrated GST), it was agreed that revenue shortfalls arising from the transition to the new indirect taxes regime would be made good from a pooled GST Compensation Fund for a period of five years that is set to end in 2022.
This corpus in turn is funded through a compensation cess that is levied on so-called ‘demerit’ goods. The computation of the shortfall — the mechanism for which is spelt out in Section 7 of the GST (Compensation to States) Act, 2017 — is done annually by projecting a revenue assumption based on 14% compounded growth from the base year’s (2015-2016) revenue and calculating the difference between that figure and the actual GST collections in that year.
For the 2020-21 fiscal year, the revenue shortfall has been anticipated at ₹3 lakh crore, with the Compensation Fund expected to have only about ₹65,000 crore through cess accruals and balance to pay the compensation to the States.
For the purpose of calculating the compensation amount payable in any financial year during the transition period, the financial year ending 31st March, 2016, shall be taken as the base year.
Article Link:
Solution (c)
What is the GST compensation?
The Constitution (One Hundred and First Amendment) Act, 2016, was the law which created the mechanism for levying a nationwide GST.
Written into this law was a provision to compensate the States for loss of revenue arising out of implementation of the GST.
The adoption of the GST was made possible by the States ceding almost all their powers to impose local-level indirect taxes and agreeing to let the prevailing multiplicity of imposts be subsumed under the GST.
While the States would receive the SGST (State GST) component of the GST, and a share of the IGST (Integrated GST), it was agreed that revenue shortfalls arising from the transition to the new indirect taxes regime would be made good from a pooled GST Compensation Fund for a period of five years that is set to end in 2022.
This corpus in turn is funded through a compensation cess that is levied on so-called ‘demerit’ goods. The computation of the shortfall — the mechanism for which is spelt out in Section 7 of the GST (Compensation to States) Act, 2017 — is done annually by projecting a revenue assumption based on 14% compounded growth from the base year’s (2015-2016) revenue and calculating the difference between that figure and the actual GST collections in that year.
For the 2020-21 fiscal year, the revenue shortfall has been anticipated at ₹3 lakh crore, with the Compensation Fund expected to have only about ₹65,000 crore through cess accruals and balance to pay the compensation to the States.
For the purpose of calculating the compensation amount payable in any financial year during the transition period, the financial year ending 31st March, 2016, shall be taken as the base year.
Article Link:
