December 25, 2023 | Your One-Stop Solution for Daily Preparation
Wildlife Conservation Initiatives | Explained
Embark on a journey through India's wildlife conservation story—discover challenges overcome, triumphs celebrated, and collaborative efforts shaping the nation's biodiversity preservation. Explore the blend of ancient values and modern policies, highlighting success stories, community involvement, and partnerships driving this ongoing commitment to safeguard India's diverse ecosystems.
Highlights of the Day
1. Government Mulls Tax Benefits Restoration for Sugar Exports Amidst RoDTEP Scheme Review
The government is recalibrating tax benefits for exports, particularly sugar, shifted to the 'restricted' category in 2022. The RoDTEP scheme, designed to exempt exports from domestic taxes, excluded sugar after its reclassification. Efforts are underway to potentially restore these benefits by altering restrictions or creating new export categories. A recent Gujarat High Court ruling advocated for distinguishing between outright and conditionally restricted exports for tax remissions. Meanwhile, the Commerce Ministry reviews proposals, including revising RoDTEP rates for tea exports, responding to industry requests. This dynamic landscape aims to balance trade facilitation while ensuring domestic availability and price stability [1].
2. WHO Urges Heightened Surveillance as COVID-19 Sub-Variant JN.1 Raises Concerns
The WHO urges heightened surveillance in Southeast Asia due to rising respiratory diseases, including COVID-19's new sub-variant JN.1 and influenza. Despite JN.1's global spread, its current public health risk is low. With winter approaching, increased infections are expected. Protective measures during gatherings are crucial. Vaccination remains vital, as all approved COVID-19 vaccines offer protection against severe illness from all variants, including JN.1. Despite COVID-19 no longer being a global emergency, sustained vigilance, strengthened surveillance, and reporting are emphasized to effectively manage respiratory illnesses globally [2].
3. Stable Rupee and Higher Interest Rates Propel NRI Deposits
The stable rupee and increased interest rates have doubled non-resident Indian (NRI) deposits in domestic banks to $6.1 billion in April-October 2023. Factors like higher returns and rupee stability attracted NRIs, particularly in foreign currency non-resident accounts. NRO, NRE, and FCNR(B) accounts saw significant inflows. Indian banks offer 6.5% to 7.5% interest rates on NRE deposits and 3% to 7.1% on NRO deposits. The rupee's stability despite global volatility and the resurgence of Indians seeking jobs overseas post-COVID contributed to this surge in NRI deposits [3].
4. 140 Private Universities Established in India Over Five Years
In the past five years, 140 private universities emerged nationwide, primarily in Gujarat, Maharashtra, and Madhya Pradesh. Private universities gain recognition through state legislature acts and are listed by the University Grants Commission (UGC). They have the authority to confer general degrees but need specific approvals for professional and medical programs from respective regulatory bodies. The UGC ensures compliance with norms, reporting no major violations among these institutions. The peak establishment of 40 private universities occurred in the 2018-19 academic year, with a total of 34 universities established in 2021-22 [4].
5. FPIs Inject Over Rs 57,300 Crore in Indian Equities This Month
Foreign Portfolio Investors (FPIs) poured over Rs 57,300 crore into Indian equities this month, exceeding Rs 1.62 lakh crore in 2023. Factors like political stability, economic growth, and declining US bond yields drove this surge. Analysts predict FPIs to increase investments in 2024 with expected US interest rate declines. Robust GDP growth, stable markets, and strong corporate earnings attract FPIs. The US Fed signaling potential rate cuts favors emerging markets like India. FPIs also showed interest in Indian debt markets, emphasizing sectors like financial services, autos, capital goods, and telecom for investments [5].
Source: The Hindu | Indian Express | Business Insider
Practice Questions for Prelims
Q1: Which among the following is NOT a constitutional body in India?
a) National Human Rights Commission (NHRC)
b) Finance Commission
c) National Commission for Scheduled Castes (NCSC)
d) GST Council
Q2: Consider the following statements regarding the Indian National Congress (INC):
1. The Indian National Congress was formed in 1885 at Bombay.
2. Dadabhai Naoroji was the first President of the Indian National Congress.
3. The Lucknow Session of 1916 marked the reunion between the Moderates and the Extremists within the INC.
4. The demand for complete independence (Purna Swaraj) was made by the INC in its Lahore Session of 1929.
a) Statements 1, 2, and 3 are correct.
b) Statements 2, 3, and 4 are correct.
c) Statements 1, 3, and 4 are correct.
d) All statements are correct.
Q3: Match the following space missions with their respective space agencies:
1. Apollo Program A. NASA
2. Chandrayaan Mission B. CNSA
3. Columbus Mission C. ESA
4. Chang'e Mission D. ISRO
a) 1-A, 2-D, 3-B, 4-C
b) 1-A, 2-C, 3-B, 4-D
c) 1-D, 2-A, 3-B, 4-C
d) 1-A, 2-D, 3-C, 4-B
Q4: The 'Mandal Commission' in India was formed to address issues related to:
a) Women's education
b) Reservation for backward classes
c) Agricultural reforms
d) Labor rights
Q5: The 'Roaring Forties,' 'Furious Fifties,' and 'Screaming Sixties' refer to:
a) Mountain ranges in the Southern Hemisphere
b) Ocean currents in the Pacific Ocean
c) Trade winds in the Southern Hemisphere
d) Strong westerly winds in the Southern Hemisphere
Today’s Question for Mains Answer Writing
Examine the impact of modern technological interventions on wildlife conservation in India. Discuss how innovative tools and methodologies have contributed to habitat protection, biodiversity monitoring, and mitigating human-wildlife conflicts.
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