March 7

1) Indian Council for Social Science Research (ICSSR)

    • Promotes research in social sciences
    • Autonomous body under GoI
    • Its division National Social Science Documentation Centre (NSSDC) is with the primary aim of providing library and information support services
    • Among the BRICS, India is the nation which spends less on social science research

 

  • Members:

 

      • Exofficio nine members
        • Chairman
        • Secretaries of different ministries (HRD, Finance, Social Justice and Empowerment)
        • UGC chairman
        • Director general of ICSSR
        • Among others

 

  • Appointment of Chairman:

 

    • He/She is appointed by Search Committee which comprises of one council member, one social scientist of international eminence nominated by council and one person nominated by the govt
    • Search committee nominates the names for the post from which the govt selects one (note: selection of chairman is the govt’s discretion)
    • Present chairman is S.K.Thorat which is coming to end

 

2) Air Conditioners and Refrigerant Gases: HCFCs

  • Release of these chemicals are prone to ozone layer (ozone depletion)
  • Already the gas called Chlorofluorocarbon has been phased out from using and HCFC is in proposal to phase out
  • Extensive use of Air Conditioners and rising demand of it will make the situation more worse so regulation is needed
    • Proposal: Ministry of Environment and Forest wanted to pre-regulate Air Conditioners temperature in all govt offices with respect to Climate

 

3) Cracking the GDP mystery:

  • GDP growth rate by CSO is 7.1%, this figure brings doubt on demonetisation:
  • Reasons for stable GDP:
    • GDP = GVA + Indirect taxes, due to demonetisation GVA has reduced but the share Indirect rate has increased which led to stable GDP
    • GDP will have more emphasis on formal sector which is not a major affected sector when compared to informal
    • Urban business functions are not affected much due to digital transactions. But affected rural transactions was compensated with good monsoon
    • 7th pay commission has improved public spendings
  • But 1st revised estimates will give us the clear picture of the GDP which takes informal sector also into account

 

4) All those who are out of the tax net:

  • Finance minister say, India is tax avoiding country which he called it as Intelligence tax (smart business for tax avoidance)
  • Remember this Scenario:
    • 24 lakh people earn greater than 10 lakhs, 42,800 earn greater than 1 crore
    • Per capita income in India is 1 lakh per annum, minimal taxable income is 2.5 lakh the difference is very high when compared to most of the emerging economies and this difference should come down and bring most of the people to tax net (only 3% of people are paying tax)
      • Bringing profitable agri business into tax net which is kept out of the tax net

 

5) Last mile concerns:

  • Business concerns wrt GST implementation:
    • Implementation is in the middle of the financial year  i.e., JulY, which will post an accounting challenge with new patterns of adopting
    • Anti Profiteering clause, is to ensure reduction of tax incidence is passed on to the customer (which is punishable)
    • Agenda of GST: One tax, one rate and one country where one tax and one country is getting satisfied but not the tax rate, the uniform tax rate was not possible with four tax slabs and making sin goods to tax with discretion
      • Parliament has put a cap of maximum 40% on GST
      • Need to make provision for fixed tenure of not changing tax rates for at least 5 years
      • Real estate which is kept out of the GST should be integrated into it

 

6) Tawang test:

  • It is a part of Arunachal Pradesh, but China claims it as a part of Tibetan Autonomous Region
  • Mcmahon Line is the demarcation between China and India but China state it as Imperial imposition
  • Dalai Lama visit has been opposed by China and stated it as pressure tactic by India
  • India stated China’s claim is unwarranted where China has not opposed the visit of Dalai Lama earlier
  • Refer China’s recent wall to India’s entry into NSG and stating Azhar as terrorist

 

7) Cost of Internet Shutdowns:

  • Internet shutdowns of social networks by the govt will make lot of economic impact
  • People is need a right to use internet as a source of expression and it should be made as fundamental as some of the developed countries do
  • Proper law should be bring in usage of internet through democratic means

 

8) Reforming funding of polls and parties: Electoral reform

  • Till 1985, the corporate donations were banned and during that licence raj era electoral corruption was prevalent. After that it has been relaxed.
  • Steps needed:
    • Transparency is needed in donations
    • Small donations should be encouraged through tax incentives etc, which will make political parties accountable to larger section of the people

 

9) Start up policy:

  • Conditions:
    • It should not be more than 5 years old, (research for drug take 20-25 years will not be counted under startup after coming to the market)
    • Not more than 25 crore annual growth
    • It should promote innovation, development, deployment, Intellectual Property rights etc. Innovation means the traditional method companies will not come under it
  • Problem: Only finger countable startups are getting the benefits, which should be increased
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