September 2, 2023 | Your One-Stop Solution for Daily Preparation
Money Bills and Financial Bills | Explained
Explore the critical roles of money bills and financial bills in India's fiscal governance. Learn about their functions, processes, and significance in ensuring transparency and accountability in government finances.
Highlights of the Day
1. Gandhi Darshan at Rajghat Gets a Facelift: New Statue and Enhancements to Ignite Gandhi's Legacy
Gandhi Darshan, a historic site at Rajghat celebrating Mahatma Gandhi's legacy, is undergoing a transformation with the unveiling of a new Gandhi statue on September 4. This initiative aims to educate and engage today's youth in Gandhi's life and teachings. The complex is being beautified, including the creation of a selfie point with multiple Gandhi statues. Additionally, efforts are underway to revitalize the library and upgrade facilities. Gandhi Darshan plans to introduce swings, an art gallery, and host cultural events. It also focuses on community engagement, as seen by underprivileged children participating in educational activities on-site, embodying Gandhi's ideals [1].
2. Unsung Hero of India's Freedom Struggle
A century after her death, the forgotten hero Mangri Orang, an Adivasi tea plantation worker in Assam, is brought to life on stage. The North East Regional Centre of the Indira Gandhi National Centre for the Arts recently staged a multilingual play, "Malati Mem," celebrating her life and revolutionary spirit. Known as Malati Mem by her fellow workers, Mangri Orang was gunned down in 1921 for leading a campaign against foreign liquor and opium during the British colonial era. This production aims to honor her as an unsung hero of India's freedom struggle and shed light on Northeastern icons nationally [2].
3. Moody's Upgrades India's 2023 GDP Growth Forecast to 6.7%
Moody's Investors Service has revised India's 2023 GDP growth forecast upwards from 5.5% to 6.7%, attributing it to the strong growth in the services sector and increased capital expenditures in the April-June quarter. However, they have slightly lowered their 2024 growth projection from 6.5% to 6.1%, citing base effects from the previous quarter's strong performance. Moody's acknowledges the potential for further upside in India's economic growth due to its robust underlying economic momentum [3].
4. Supreme Court Rules Children of Void Marriages Can Claim Ancestral Property Share
The Supreme Court ruled that children born from void or voidable marriages have the right to claim a share in their parent's ancestral property under the Mitakshara Law. However, they cannot claim rights in the ancestral property of anyone else in the Hindu Undivided Family (HUF). The court referenced Section 16(1) and 16(2) of the Hindu Marriage Act (HMA), 1955, which confers legitimacy on such children. The judgment clarified that the legitimacy protected by these sections grants rights only in their parent's share, not in the entire HUF property. It also outlined the process for determining the parental share and urged the prompt disposal of pending cases on this matter in high courts [4].
5. Global Warming to Triple Groundwater Depletion in India by 2080, Posing Food and Water Security Threats
A new report warns that groundwater depletion in India is set to triple between 2041-2080 due to global warming. Rising temperatures will lead to increased groundwater extraction, despite anticipated precipitation increases and reduced irrigation use. This poses a significant threat, given that over 60% of India's irrigated agriculture relies on groundwater, and some regions already face severe depletion. The study reveals that farmers have intensified groundwater withdrawals in response to warming temperatures, accelerating depletion. To address this, the report recommends policies such as rationing power supply, metering electricity usage, groundwater recharge incentives, and efficient irrigation technologies to safeguard India's food and water security [5].
Source: The Hindu | Indian Express | DownToEarth | TOI
Practice Questions for Prelims
Q1: Examine the following statements regarding "Ocean Currents":
I. The Gulf Stream is a warm ocean current in the Atlantic Ocean.
II. The Canary Current flows along the eastern coast of Africa.
III. The Pacific Ocean has no major ocean currents.
Choose the correct combination:
a) I only
b) I and II
c) II and III
d) I, II, and III
Q2: Consider the following statements about "National Parks in India":
I. Jim Corbett National Park is the oldest national park in India.
II. Keoladeo National Park is famous for its population of Bengal tigers.
III. Sundarbans National Park is a UNESCO World Heritage Site.
Choose the correct combination:
a) I and II
b) II and III
c) I and III
d) I, II, and III
Q3: Examine the following statements regarding "Foreign Direct Investment (FDI)":
I. FDI involves an investor from one country making an investment in another country.
II. The "Make in India" initiative aimed to boost FDI in India.
III. FDI is limited to certain sectors in India, with no foreign investment allowed in retail.
Choose the correct combination:
a) I and II
b) II and III
c) I and III
d) I, II, and III
Q4: Examine the following statements regarding "Space Exploration":
I. The Apollo 11 mission in 1969 marked the first successful moon landing by humans.
II. The Hubble Space Telescope has provided valuable insights into distant galaxies.
III. The Mars Rover "Curiosity" is a joint mission of NASA and the European Space Agency.
Choose the correct combination:
a) I and II
b) II and III
c) I and III
d) I, II, and III
Q5: Consider the following statements regarding "Fiscal Policy":
I. Fiscal policy is a tool used by the government to manage its revenue and expenditure.
II. Expansionary fiscal policy aims to stimulate economic growth by increasing government spending and reducing taxes.
III. Contractionary fiscal policy aims to control inflation by reducing government spending and increasing taxes.
Choose the correct combination:
a) I and II
b) II and III
c) I and III
d) I, II, and III
Today’s Question for Mains Answer Writing
Discuss the impact of climate change on agricultural practices in India and suggest policy measures to mitigate its effects. (Word limit: 250 words)
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