06-02-2024

Table of Contents
Sc: murder of democracy, Services PMI at 6-month
prosecute returning officer 1 high(Live Mint ) 4
(Indian Express)

Using ITR 2 or 3? Be prepared White Paper on economy to

to make more disclosures 2 be tabled this session 5
(Business Standards) (The Hindu)

Quad summit more likely after India’s first private launch

U.S. polls in November: envoy 3 pad readies for takeoff 6
(The Hindu) (Business Standards)

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Indian Express, Pg: 1

Features of Democracy

• Effective people participation.

Democracy
• free, fair, and frequent elections Equality
• Greek word dēmokratia - dēmos (“people”)
in voting
+ kratos (“rule”)

• Democracy is a form of government in which • Informed electorate

the rulers are elected by the people -
narrow definition of democracy. • Independent sources of information

• Citizenry is powerful. • Inclusion

• Fundamental rights

• Freedom of expression

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Practice Question – Mains

GS-II
Q. Democracy in the digital age has new
challenges with the citizenry trapped in
echo chambers. Discuss
(150 Words, 10 Marks)

Business standard, Pg: 2

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Virtual Digital Assets (VDA)

• Finance Act of 2022.

 Virtual digital asset - Information or

code or number or token (Not being
Indian currency or any foreign currency).

 Generated through cryptographic means.

• Digital representations of a value can be

traded, transferred, or stored electronically.

• Example - various types of digital tokens, such

as cryptocurrencies, utility tokens, and non-
fungible tokens (NFTs).

Need for Regulation.

• Bypass the financial system & provide an Government steps:

alternative to regulated currencies.
• From April 2022 - posing a 30% income
 Difficult to be traced or confiscated tax on cryptocurrency earnings.
or frozen by governments.
• July 2022 - rules regarding 1 per cent
 Anonymous in character. tax deducted at source on cryptocurrency

• Lack of consumer awareness, market came into effect.

volatility of various cryptocurrencies, threat • Gifts in crypto and digital assets were
to financial sovereignty etc. also taxed.

• Lead to “Dollarisation" of the Indian

economy.

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Transactions involving crypto assets brought

under Prevention of Money Laundering Act.

 Exchange between virtual digital assets

and fiat currencies.
• VDA service providers - ‘Reporting
 Exchange between one or more forms Entities’ under PMLA Act,
of virtual digital assets.
 Providers notice any suspicious
 Transfer of virtual digital assets. activities - report it to FIU-IND.

 Safekeeping or administration of virtual • RBI launched e-rupee, a central bank

digital assets or instruments enabling digital currency to effectively regulate the
control over virtual digital assets. VDA transactions.

 Participation in and provision of

financial services related to an issuer’s
offer and sale of a virtual digital
asset.

Practice Question – Prelims

Q. With reference to Non-Fungible Tokens (NFTs),
consider the following statements:
1. They enable the digital representation of
physical assets.
2. They are unique cryptographic tokens that
exist on a blockchain.
3. They can be traded or exchanged at
equivalency and therefore can be used as a
medium of commercial transactions.
Which of the statements given above are
correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3

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The Hindu
Pg: 10 – C, B, D, H, T

QUAD

• Quadrilateral Security Dialogue

• Strategic alliance between India, USA, Japan, and

Australia.

• Proposed by Japan's Prime Minister Shinzo Abe in

2007.

• Formal establishment in November 2017.

History

• 2008- Initial withdrawal by Australia due to Chinese

pressure.

• 2012- Reintroduction by Shinzo Abe as "Democratic

Security Diamond.

• Quad Plus- South Korea, New Zealand, and Vietnam.

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Objectives of QUAD

• Establishing a rules based global order. Significance for India

• Ensuring freedom of navigation. • Strategic Importance- Counterbalancing

China's dominance.
• Promoting a liberal trade system.
• Strengthening trade opportunities and
Additional Focus Areas
attracting investments.
• Statement-”The Spirit of the Quad”
• Free ocean-india’s trade increase.
• Combating COVID19 and addressing vaccine
• Helping other countries-pandemic.
shortages.
• India- Stronger, more secure, make
• Tackling climate change challenges.
friends-Peace and prosperity.
• Facilitating investment and technological
innovation in the Indo-Pacific region.

Practice Question – Prelims

Q. Consider the following statements about
Quad:
1. Quad is a Strategic alliance between India,
USA, South Korea, and Australia.
2. It was formally established in November
2017 based on the Proposal of the Japanese
PM.
3. The Spirit of the Quad’ is a statement which
contains the Objectives and vision of Quad
released by Quad leaders.
How many of the above statements is/are NOT
correct?
a) One Only
b) Two only
c) All three
d) None

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Live Mint, Pg: 2

Purchasing Managers' Index (PMI)

A survey based economic indicator showing the

performance of the manufacturing and services sectors.
Scale and interpretation

• Uses a 0 to 100 scale

• above 50 indicates growth,

• below 50 indicates contraction, and

• 50 means no change.

Producers of PMI

• ISM in the US,

• SIPMM in Singapore, and

• S&P Global

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India's Service Sector Performance

• Recent Growth: In January, India's service

sector PMI hit a six month high of 61.8 Practice Question – Prelims
Q. Consider the following statements about PMI:
• Expansion in services- increased business
1. A survey based economic indicator showing
from countries worldwide.
the performance of services sectors only.
• Aids in achieving the fiscal year's growth 2. It uses a scale of 0 to 100.
targets 3. Based on the recent data, In January month
the service sector has seen an all time low.
Significance of PMI in Economic Analysis How many of the above statements is/are
correct?
• Economic Health Indicator: Helps gauge the
a) One Only
overall economic direction and sector specific
b) Two only
performance.
c) All three
• Monthly Insight: Released at the start of each d) None
month, providing timely information on economic
trends

The Hindu
Pg: 1 – C, B, D, H, T

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White paper

• Official government document - detailed

information, analysis, or proposals on any
matter of public concern.

• Britain origin - Churchill White Paper of

1922.

• Published statement of government policy or

strategy.

• Authoritative report - information on

complex issues in a concise form.

• Examples

 White Paper on Data Protection • Important roles

framework for India (2017).
 Presenting government policy preferences
 White paper on Focused Interventions for prior to the introduction of legislation.
Make in India (2020).
 Test the climate of public opinion
 White Paper on Black Money (2012). regarding controversial policy issue.

• Objectives • Enables government to calculate probable

 Stakeholders - understand an issue, impact of particular policy.

identify roadblocks & find solutions. • Generally suggestive in nature.

 Governments - strategies on prevalent

issues and far-sighted decisions.

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Differences b/w white paper & green paper

Practice Question – Prelims
White paper
Q. Consider the following statements:
 Published statement of govt. policy. 1. The 'white paper' refers to government
consultation on policy, which aims to seek
 Contains details of planned legislative change. views from interested parties.
Green paper
2. The 'green paper' refers to a published
statement of government policy, which
 Consultation documents. include the reasons for planned legislative
change.
 Seeking views from interested parties. Which of the statements given above is/are
The role of public
correct?
a) 1 only
 White paper - mere less. b) 2 only
c) Both 1 and 2
 Green paper - open-ended and encourages public d) Neither I nor 2
opinion.

Business standard, Pg: 14

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Agnikul Cosmos

• Incorporated in 2017 in Chennai.

• Incubation support from IIT-Madras & grown

in the niche India’s private space sector.

• 1st Indian firm to sign an agreement of

partnership with ISRO in December 2020.

• IN-SPACe initiative.

 Unprecedented access to ISRO’s expertise

and cutting-edge facilities

• One of the highest funded space startups in

India, raising 42 million.

Achievements of the company.

Significance.
• In 2021 - developed world’s first single-piece
• Controlled & guided mission with a vertical
3-D printed rocket engine called “Agilnet”.
launch.
 Fully designed and manufactured in India.
Agnibaan
 This Engine will be used in its rocket
• Highly customizable.
launches.
• Two-stage launch vehicle developed by Agnikul.
• In 2022 – 1st to get launch pad and mission
control room in Sriharikota. • Capacity - Taking up to 100 kg payload to

• Maiden launch of the satellite “Agnibaan”. orbits around 700 km high (low Earth orbits).

• Enables plug-and-play configuration.

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Practice Question – Mains

GS-III
Q. The growing role of the private sector in
space, demands India to move quickly
towards a new model for India’s space
activity. Explain with illustrations.
(150 Words, 10 Marks)

PRACTICE QUESTIONS
DISCUSSION

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Practice Question – Prelims

Q. Consider the following statements about
Quad:
1. Quad is a Strategic alliance between India,
USA, South Korea, and Australia.
2. It was formally established in November
2017 based on the Proposal of the Japanese
PM.
3. The Spirit of the Quad’ is a statement which
contains the Objectives and vision of Quad
released by Quad leaders.
How many of the above statements is/are NOT
correct?
a) One Only
b) Two only
c) All three
d) None

Practice Question – Prelims

Q. With reference to Non-Fungible Tokens (NFTs),
consider the following statements:
1. They enable the digital representation of
physical assets.
2. They are unique cryptographic tokens that
exist on a blockchain.
3. They can be traded or exchanged at
equivalency and therefore can be used as a
medium of commercial transactions.
Which of the statements given above are
correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3

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 06-02-2024

Practice Question – Prelims

Q. Consider the following statements about PMI:
1. A survey based economic indicator showing
the performance of services sectors only.
2. It uses a scale of 0 to 100.
3. Based on the recent data, In January month
the service sector has seen an all time low.
How many of the above statements is/are
correct?
a) One Only
b) Two only
c) All three
d) None

Practice Question – Prelims

Q. Consider the following statements:
1. The 'white paper' refers to government
consultation on policy, which aims to seek
views from interested parties.
2. The 'green paper' refers to a published
statement of government policy, which
include the reasons for planned legislative
change.
Which of the statements given above is/are
correct?
a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither I nor 2

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Practice Question – Mains

Practice Question – Mains
GS-III
GS-II
Q. The growing role of the private sector in
Q. Democracy in the digital age has new
space, demands India to move quickly
challenges with the citizenry trapped in
towards a new model for India’s space
echo chambers. Discuss
activity. Explain with illustrations.
(150 Words, 10 Marks)
(150 Words, 10 Marks)

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