FINDER

FORTUNE IAS NEWS DAILY EXPLAINER 03-08-2023

03 rd

AUGUST
2023

FORTUNE IAS NEWS DAILY EXPLAINER

GST Council sticks to its plan to collect shall be taken by a majority of not less than three-
28% tax on online gaming fourths of the weighted votes of the members present
and voting.
Prelims: General Studies Paper - 1
Indian Polity & Governance – Constitution, Political System, Panchayati Raj, Public • The vote of the Central Government shall have a
Policy, Rights Issues, etc.
weightage of one-third of the total votes cast and the
Mains: General Studies Paper - 2 votes of all the State Governments taken together shall
Mechanisms, laws, institutions and Bodies constituted for the protection and
betterment of these vulnerable sections.
have a weightage of two-thirds of the total votes cast in
that meeting.
GST Council
Taxation on online gaming
• A constitutional body constituted by the President as
per the Article 279A(1) of the amended Constitution. • Regardless of whether they involve skill, chance, or a
• The council is responsible for providing recommendations combination thereof (or neither), bets and wagers made
to both the Union and State governments in matters of on online gaming, casinos, and horse racing activities
GST. will now attract a 28% GST levy.

Antimicrobial resistance panels to be

Harmonization formed in all 191 blocks
of taxes
Prelims: General Studies Paper - 1
Smooth Monitoring Current events of National & International importance

implementation taxation
of GST regime
Mains: General Studies Paper - 3
Awareness in the fields of IT, Space, Computers, robotics, Nano-technology, bio-
technology and issues relating to intellectual property rights.

Objectives
Antimicrobial Resistance (AMR)
• Composition: Chaired by the Union Finance Minister
• Antimicrobial resistance happens when microorganisms
and members include the Union Minister of State, in-
(such as bacteria, fungi, viruses, and parasites) change
charge of Revenue of finance and ministers in charge of
when they are exposed to antimicrobial drugs.
finance or taxation or any other ministers nominated by
• Microorganisms that develop antimicrobial resistance
each state government.
are sometimes referred to as “superbugs”.
Functioning of GST Council • As a result, the medicines become ineffective and
• One-half of the total number of Members of the Goods infections persist in the body, increasing the risk of
and Services Tax Council shall constitute the quorum at spreading to others
its meetings.
• Every decision of the Goods and Services Tax Council

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FORTUNE IAS NEWS DAILY EXPLAINER 03-08-2023

Causes • India has proposed an approach of LiFE(Lifestyles for

Sustainable Development).
G7

• The Group of Seven, the intergovernmental political

forum of world’s largest IMF advanced economies.
• It consists of Canada, France, Germany, Italy, Japan,
the United Kingdom, and the United States. (Russia
removed in 2014 )

Source:https://www.emro.who.int/health-topics/drug-resistance/information-
resources.html

Various efforts adopted

• Global Action Plan on Antimicrobial Resistance (GAP) by

World Health Organisation
• Global Antimicrobial Resistance and Use Surveillance
System (GLASS) by World Health Organisation • First summit held by the Group of 6 in 1975, to address
• India’s Red Line Campaign- Ministry of Health and Family the economic concerns of the industrialized economies.
Welfare, Govt of India
Linear regression
The trajectory of progress must change
Prelims: General Studies Paper - 1
Prelims: General Studies Paper - 1 Economic & Social Development – Sustainable Development, Poverty, Inclusion,
Current events of National & International importance Demographics, Social Sector Initiatives, etc.

Mains: General Studies Paper - 3

Mains: General Studies Paper - 2 Indian Economy and issues relating to planning, mobilization, of resources, growth,
Bilateral, regional and global groupings and agreements involving India and/or development and employment.
affecting India’s interests.

National Family Health Surveys

G20
• It is a multi round survey conducted through
• Premier forum for international economic cooperation
representative samples of households in India. Recent
comprising 19 countries and the European Union
NFHS 5 was held for the 2019-2021 time frame.
founded in 1999.
• The Ministry of Health and Family Welfare (MoHFW)
• India holds the presidency of G20 from 1 December
has entrusted the International Institute for Population
2022 to 30 November 2023.
Sciences(IIPS) Mumbai, as the agency for providing
• India’s emphasis on geographic representation,
coordination and technical guidance for the survey.
engagement of non G20 members and people oriented
approach.

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FORTUNE IAS NEWS DAILY EXPLAINER 03-08-2023

• It emphasizes providing data on health and family Deep Tech Startups

welfare as well as information on important emerging
• Deep technology or hard tech is a category of startups
health issues.
or organizations that provide technologies that require
From state visit to a more robust trade
significant technical or scientific advances
relationship
• Deep tech fields include:
Prelims: General Studies Paper - 1
Current events of National & International importance.
Artificial intelligence

Mains: General Studies Paper - 3 Blockchain technology

Bilateral, regional and global groupings and agreements involving India and/or
affecting India’s interests.
Quantum Computing

India-US Bilateral Relations Biotechnology

Economic: Robotics
• The U.S emerged as India’s biggest trading partner
in 2022-23 on account of increasing economic ties State of India’s Deep Tech Startups
between the two countries. • By the end of 2021, India had 3,000 deep tech startups.
Defence: • The ecosystem has grown by 53%.
• India-US defence cooperation is based on “New • Recently the Government of India released a
Framework for India-US Defence Cooperation”, which draft National Deep Tech Startup Policy for public
was renewed for a period of ten years in 2015. consultation.
The contours of India’s ‘formal jobs’ crisis
• Bilateral exercises include: Yudh Abhyas (Army); Vajra
Prelims: General Studies Paper - 1
Prahar (Special Forces), a tri-services exercise– Tiger Economic and Social Development- Sustainable Development, Poverty, Inclusion,
Demographics, Social Sector Initiatives etc
Triumph (inaugurated in 2019).
Space & Technology: Mains: General Studies Paper - 3
Government policies and interventions for development in various sectors and
• ISRO and NASA are working together to realize a issues arising out of their design and implementation

joint microwave remote sensing satellite for Earth

Employee Provident Fund (EPF) Scheme
observation, named NASA-ISRO Synthetic Aperture
Radar (NISAR). • EPF is a social security scheme under the Employees
• Initiative on Critical and Emerging Technology (iCET) Provident Funds and Miscellaneous Provisions Act
– a new US-India initiative on Critical and Emerging 1952
Technologies in January 2023 for new age technologies • The scheme is managed by Employees Provident Fund
like artificial intelligence Organization (EPFO)

Deep tech startups taking brave risks • Under the scheme, an employee has to pay a 12%
contribution towards the scheme. An equal contribution
Prelims: General Studies Paper - 1
Current events of National & International importance
is paid by the employer
• The employee gets a lump sum amount including self
Mains: General Studies Paper - 3 and employer’s contribution with interest on both on
Awareness in the fields of IT, Space, Computers, robotics, Nano-technology, bio-
technology retirement

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FORTUNE IAS NEWS DAILY EXPLAINER
Employees Provident Fund Organization
(EPFO)
• It is a statutory body under the administrative control of
the Union Ministry of Labour and Employment
• Administered by a tripartite board called the Central
Board of Trustees. The board comprises representatives
of the Government (both central and state), employers
and employees and chaired by the Union Minister of
Labour and Employment
• EPFO is also the nodal agency for implementing Bilateral •
Social Security Agreements with other countries on a
reciprocal basis.
Narco-terror nexus examined case-
wise, Centre informs RS
Prelims: General Studies Paper - 1
Indian Polity and Governance- Constitution, Political System, Panchayati Raj,
Public Policy, Rights issues
Mains: General Studies Paper - 2
Government policies and interventions for development in various sectors and
issues arising out of their design and implementation
Antimicrobial Resistance (AMR)
• Constituted under the Narcotic Drugs and Psychotropic
Substances Act, 1985
• It is the apex coordinating agency under the Ministry of
Home Affairs
• The National Policy on Narcotic Drugs and Psychotropic
Substances is based on Article 47 of the constitution
which directs the state to endeavour to bring about
prohibition of the consumption, except for medicinal
purposes of intoxicating drugs injurious to health.
• Drug abuse control is the responsibility of the central
government
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03-08-2023
President retains power to scrap Article
370: SC
Prelims: General Studies Paper - 1
Indian Polity and Governance- Constitution, Political System, Panchayati Raj,
Public Policy, Rights issues
Mains: General Studies Paper - 2
Indian Constitution- historical underpinnings, evolution, features, amendments,
significant provisions and basic structure
Article 370
Article 370 exempted Jammu and Kashmir from the
Indian Constitution (except Article 1 and Article 370
itself) and permited the state to draft its own constitution
• The J&K constituent assembly was dissolved after it
drafted the state’s constitution.
• Clause (3) of the article 370 gives the President of India
the power to amend its provisions and scope.
• On 5th August 2019, President of India in the exercise
of the powers conferred by clause (1) of Article 370 had
issued the Constitution (Application to Jammu and
Kashmir) Order 2019. Through this, Government of
India has made modifications in Article 370 itself ending
the special status for J&K.
Om Birla skips LS proceedings to convey
displeasure over disruptions
Prelims: General Studies Paper - 1
Indian Polity and Governance- Constitution, Political System, Panchayati Raj,
Public Policy, Rights issues
Mains: General Studies Paper - 2
Functions and responsibilities of Union and States, issues and challenges pertaining to the
federal structure, devolution of powers and finances up to local levels and challenges therein
The Government of National Capital Territory
of Delhi (Amendment) Bill 2023
• The bill establishes the National Capital Civil Services
Authority, which consists of the Chief Minister, Chief
Secretary of Delhi, Principal Home Secretary of Delhi.
• The authority will make recommendations to the
Lieutenant Governor (LG) regarding transfers and
postings of officials and disciplinary matters
FORTUNE IAS NEWS DAILY EXPLAINER
• It empowers the LG to exercise sole discretion on several
matters including the summoning, prorogation and
dissolution of the Delhi Legislative Assembly
• It authorizes department secretaries to bring to the
notice of the LG, the Chief Minister and the Chief
Secretary any matter that may bring Delhi Government
into conflict with the Central Government
RS passes three bills in the absence of
Opposition
Prelims: General Studies Paper - 1
Indian Polity and Governance- Constitution, Political System, Panchayati Raj,
Public Policy, Rights issues
Mains: General Studies Paper - 2
Government policies and interventions for development in various sectors and
issues arising out of their design and implementation
Mines and Minerals (Development &
Regulation) Amendment Bill 2023
• The bill will make amendments to the Mines and
Minerals (Development and Regulation) Act 1957
Details of the Amendments
• Omission of 6 minerals from the list of 12 atomic minerals
specified in Part-B of the First Schedule of the Act
• Empowering central government to exclusively auction
mineral concessions for certain critical minerals
• Introducing exploration licence for deep-seated and
critical minerals
Jan Vishwas (Amendment of Provisions) Bill
2023
• The bill proposes to amend 183 provisions in 42 central
acts administered by 19 ministries/departments
covering various domains such as environment,
agriculture, media, industry, food security etc
• The main objective of the bill is to decriminalize minor
offences that do not involve any harm to public interest
or national security and replace them with civil penalties
or administrative actions
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03-08-2023
• The bill provides for a periodic revision of fines and
penalties every three years, with an increase of 10%
of the minimum amount for various offences in the
specified acts.
Forest Conservation (Amendment) Bill
• The bill was introduced to amend the Forest Conservation
Act, 1980
Forest Conservation Act, 1980
• It was enacted to ensure that India’s forest land is not
willingly usurped for non-forestry purposes
• The act empowers the centre to require that any
forest land diverted for non-forestry purposes be duly
compensated
Proposed amendments
• The bill exempts certain types of land from the provision
of the act, such as forest land along a rail line or a public
road maintained by the government
• Removing the restrictions on creating infrastructure
that would aid national security and create livelihood
opportunities for those living on the periphery of forests
• Under the act, a state government requires prior approval
of the central government to assign forest land to any
entity not owned or controlled by the government. In
the bill, this condition is extended to all entities.
• Bill adds that central government may issue directions
for the implementation of the act to any authority under
or recognized by the centre, state or union territory
One more cheetah dies at Kuno
Park,taking the toll to six
Prelims: General Studies Paper - 1
General issues on Environmental ecology, Bio-diversity & climate change
Mains: General Studies Paper - 3
Conservation, environmental pollution and degradation, environmental impact
assessment.
FORTUNE IAS NEWS DAILY EXPLAINER 03-08-2023

Project Cheetah Fair and remunerative price (FRP)

• African Cheetah IUCN Red LIst: Vulnerable • It is the minimum price at which sugarcane is to be
• WildLife (Protection)Act,1972 - Schedule II purchased by sugar mills from farmers.
• Cheetahs were declared extinct in the country in 1952. • FRP is fixed by the Cabinet Committee on Economic
• 20 radio-collared cheetahs were translocated from Affairs (CCEA) on the basis of recommendations of the
South Africa and Namibia to Kuno National Park in Commission for Agricultural Costs and Prices (CACP).
Madhya Pradesh • FRP is fixed after considering various factors such as the
cost of production, demand-supply situation, domestic
Govt. kicks off contractual dispute & international prices, inter-crop price parity etc.
settlement scheme
Prelims: General Studies Paper - 1 Figuring out the South Korea
Economic & Social Development – Sustainable Development, Poverty, Inclusion,
Demographics, Social Sector Initiatives, etc.
superconductor papers

Mains: General Studies Paper - 3 Prelims: General Studies Paper - 1

Current events of National & International importance
Indian Economy and issues relating to planning, mobilization, of resources, growth,
development and employment.

Mains: General Studies Paper - 3

Vivad Se Vishwas Scheme Awareness in the fields of IT, Space, Computers, robotics, Nano-technology, bio-
technology

• Direct tax scheme introduced by the Government of

Apatite/LK-99
India in 2020, which settles disputes between taxpayers
and income tax department. • A group of scientists observed room temperature and
• It emphasizes minimal tax litigation. An individual ambient pressure superconductivity in a material called
taxpayer can claim full waiver on interest and penalty on apatite.
the full and final settlement of the disputed tax amount. • They started with lead apatite and at 10% copper
Vivad Se Vishwas Scheme II substitution, the wonder material LK-99 arises: copper-
substituted lead apatite.
• Launched as a settlement scheme for domestic
contractual disputes with vendors or suppliers to the Jeddah: Hope for peace in Ukraine?
government and its undertakings.
Prelims: General Studies Paper - 1
Current events of National & International importance

Sugar output to see a slight dip amid

rising ethanol demand Mains: General Studies Paper - 2
Bilateral, regional and global groupings and agreements involving India and/or
affecting India’s interests.
Prelims: General Studies Paper - 1
Economic & Social Development – Sustainable Development, Poverty, Inclusion,
Demographics, Social Sector Initiatives, etc.
Saudi Arabia is set to host Ukraine, U.S,India,
Mains: General Studies Paper - 3 Brazil & other nations for peace talks on the Rus-
Major crops-cropping patterns in various parts of the country, - different types of irrigation and
irrigation systems storage, transport and marketing of agricultural produce and issues and related
sia-Ukraine War
constraints; e-technology in the aid of farmers.
Black Sea Grain Initiative

• It was set up to tackle food price inflation and market

stability hurdles caused due Russia-Ukraine conflict.

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FORTUNE IAS NEWS DAILY EXPLAINER 03-08-2023

• The deal was brokered by United Nations and Turkey

Organization of the Petroleum Exporting

Countries (OPEC)
• Permanent, intergovernmental organization, created at
the Baghdad Conference (1960)
• Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela are the
founding members.
• Objective is to manage the supply and price of oil in the
world market.
• Its membership is open to any oil exporting nation.
• Other member are United Arab Emirates(UAE), Algeria,
Libya, Nigeria, Gabon, Equatorial Guinea, Republic of
Congo, Angola, Ecuador

Key Words

• Discovery of Lithium reserves in Kashmir

• Aadi Perukku, the Tamil cultural festival was held

Places in News Country Why in the News?

Izmail( Port city) Ukraine Russian drone attacks
Niamey Niger Military Coup
Zhuozhou City China Typhoon Doksuri

Note:
Index of Industrial Production (IIP) is compiled and
published monthly by the National Statistical Office
(NSO), under the Ministry of Statistics and Pro-
gramme Implementation.
Index of Eight Core Industries is released by the Office
of the Economic Adviser (OEA), Department of Indus-
trial Policy and Promotion (DIPP) under the Ministry
of Commerce and Industry

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