Highlights |UPSC Exam Current Affairs 03-02-2020

UPSC exam Current Affairs 03-02-2020 The following article contains all the updated events and news for IAS Preparation. Our daily IAS Current Affairs and News cover the most important topics to give precise information to the reader and IAS Aspirants.

• Coronavirus: India temporarily suspends the e-visa facility for Chinese and foreigners residing in China
• Coronavirus: Study on bats and bat hunters in Nagaland 
• Indian Economy

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UPSC Exam Current Affairs and News Analysis (03-02-2020)

Coronavirus: India temporarily suspends the e-visa facility for Chinese and foreigners residing in China

Part of: GS Prelims –Sci & tech and GS-II – Health 

In news:

• India incidentally suspended e-visa office for Chinese voyagers and outsiders living in China in perspective on the coronavirus.

From Prelims Point of View

e-Visa:

• The India e-Visa is an electronic approval to head out to India for business, the travel industry, or therapeutic visits.
• While applying for an e-Visa, it isn’t important to present your identification or other individual archives to the office.
• The e-Visa endorsement will be given ahead of time electronically before your takeoff to India.
• At the migration checkpoint, the genuine visa will be put inside your identification. Day by day Current Affairs IAS | UPSC Prelims and Mains Exam – third February 2020

Money earned in India by NRIs will be taxed

Part of: GS Prelims –Economy  and GS-III – Budget

In news :

The Finance Bill has proposed three significant changes to forestall charge maltreatment by residents that don’t pay assesses anyplace on the planet —

• diminishing the number of days that an Indian resident can be allowed non-inhabitant status for charge purposes from 182 to 120;
• residents who don’t pay charges anyplace will be regarded to be an inhabitant;
• The meaning of ‘not usually occupant’ has been fixed.

Non-Resident Indian

• An Indian resident who is usually living outside India and holds an Indian Passport.
• An individual is considered NRI on the off chance that She isn’t in India for 182 days or more during the money related year Or;
• On the off chance that he/she is in India for under 365 days during the 4 years going before that year and under 60 days in that year.

Coronavirus: Study on bats and bat hunters in Nagaland 

Part of: GS Prelims –Sci & Tech and GS-II – Health 

In news:

• The legislature has requested an investigation into an examination directed in Nagaland by analysts from the U.S., China and India on bats and people conveying antibodies to lethal infections like Ebola.

From Prelims Point of View:

• Filoviruses are a group of non-fragmented negative-stranded RNA infections, with Marburg infection and Ebola infection comprising two distinct species.

In Kerala, 2,130 islands brought under CRZ regime

Part of: GS Prelims –Environment   and GS-III – Conservation

In news:

• 2,130 backwater islands of Kerala, including Maradu, have been brought under the Coastal Regulation Zone (CRZ) system along these lines forcing controls on advancement exercises.
• This is just because the rundown of the Kerala islands is being drawn up.
• The rundown of the islands was set up by the National Center for Earth Science Studies

Coastal Regulation Zones (CRZ)

CRZ Notification 2018 depends on the proposals of Shailesh Nayak panel. committee.

• Beachfront stretches of oceans, narrows, estuaries, rivers, streams, and backwaters were announced as CRZs under seaside zone guideline notice in 1991.
• CRZ has been classified into 4 zones for the purpose of regulation:
  • CRZ-I: incorporates environmentally touchy regions, where no development is permitted aside from exercises for nuclear force plants, guard.
  • CRZ-II: incorporates assigned urban territories that are significantly developed. Development exercises are permitted on the landward side as it were.
  • CRZ-III: incorporates generally undisturbed territories, basically rustic zones. No new development of structures permitted right now fixing of the current ones. Be that as it may, developments of abiding units in the plot region lying between 200-500m of the elevated tide line are permitted.
  • CRZ-IV: incorporates the water region secured between Low Tide Line and 12 nautical miles toward the ocean. Aside from angling and related exercises, all activities censuring on the ocean and tidal water will be controlled right now.

Miscellaneous 

National Centre for Biological Sciences (NCBS) 

• Research focus having some expertise in natural research (Bangalore)
• Under the Department of Atomic Energy
• Essential and interdisciplinary research in the outskirts territories of science.
• The exploration interests of the personnel are in four wide territories running from the investigation of single atoms to frameworks science.

 (MAINS FOCUS)

Indian Economy

Topic: General Studies 3:

• Government Budgeting.
• Indian Economy and issues identifying with arranging, preparation, of assets, development, improvement and work.

Key Highlights of the Economic Survey 2019-20 – Part 2

TARGETING EASE OF DOING BUSINESS IN INDIA

• A bounce of 79 situations to 63 of every 2019 from 142 of every 2014 in World Bank’s Doing Business rankings.
• India despite everything trails in parameters, for example, Ease of Starting Business, Registering Property, Paying Taxes and Enforcing Contracts.
• Hardware fares and imports through Bengaluru air terminal show how Indian strategic procedures can be world-class.
• The turnaround time of boats in India has nearly divided to 2.48 days in 2018-19 from 4.67 days in 2010-11.

Suggestions for further Ease of Doing Business:

• Close coordination between the Logistics division of the Ministry of Commerce and Industry, the Central Board of Indirect Taxes and Customs, Ministry of Shipping and the diverse port specialists.
• Singular divisions, for example, the travel industry or assembling require a more focused on an approach that maps out the administrative and procedure bottlenecks for each section.

2019 GOLDEN JUBILEE OF BANK NATIONALISATION: TAKING STOCK

• Since 1969, India’s financial division has not grown proportionately to the development in the size of the economy.
• India has just one bank in the worldwide top 100 – same as nations that are a small amount of its size: Finland (around 1/eleventh), Denmark (1/eighth), and so on.
• The onus of supporting the economy falls on the PSBs representing 70 % of the piece of the pie in Indian banking:
• In 2019, venture for each rupee in PSBs, all things considered, prompted the loss of 23 paise, while in NPBs (New Private Banks) it prompted the increase of 9.6 paise.

Solutions to make PSBs more efficient:

• Worker Stock Ownership Plan (ESOP) for PSBs’ representatives
• The portrayal of sheets proportionate to the squares held by workers to boost representatives and adjust their inclinations to that of all investors of banks.
• Making of a GSTN type substance that will total information from all PSBs and use advancements like enormous information, man-made reasoning and AI in credit choices for guaranteeing better screening and checking of borrowers, particularly the huge ones.

FINANCIAL FRAGILITY IN THE NBFC SECTOR

• The review explores the key drivers of Rollover Risk of the shadow banking framework in India considering the ebb and flows liquidity smash in the division.
• Key drivers of Rollover Risk:
  • Asset Liability Management (ALM) Risk.
  • Interconnectedness Risk.
  • Financial and Operating Resilience of an NBFC.
  • Over-dependence on short-term wholesale funding.
• Investigation of an analytic (Health Score) by evaluating the Rollover hazard gives an early admonition sign of approaching liquidity issues.
• The Survey endorses to productively apportion liquidity upgrades across firms (with various Health Scores) in the NBFC segment, in this way capturing budgetary delicacy in a capital-effective way.

Privatization and Wealth Creation

• The overview looks at the acknowledged productivity gains from privatization in the Indian setting and supports the case for forceful disinvestment of CPSEs.
• Vital disinvestment of Government’s shareholding of 53.29 percent in HPCL prompted an expansion of around Rs. 33,000 crores in national riches.
• Similarly, an examination of the before-after execution of 11 CPSEs which experienced key disinvestment from 1999-2000 to 2003-04 show Privatized CPSEs have had the option to produce more riches from similar assets.

THALINOMICS: THE ECONOMICS OF A PLATE OF FOOD IN INDIA 

• Endeavour to evaluate what a typical individual pays for a Thali across India.
• A move in the elements of Thali costs since 2015-16.
• Total costs of a veggie lover Thali have diminished fundamentally since 2015-16 across India; however, the cost has expanded during 2019-20.

Post-2015-16:

• Normal family unit increased near Rs. 11, 000 all things considered every year from the balance in costs on account of veggie lover Thali.
• The normal family unit that expends two non-veggie lover Thalis increased near Rs. 12, 000 all things considered every year during a similar period.

From 2006-07 to 2019-20:

• Reasonableness of veggie lover Thalis improved 29 %.
• Reasonableness of non-veggie lover Thalis improved by 18 %.

INDIA’S ECONOMIC PERFORMANCE IN 2019-20

Gross domestic product development pegged at 6-6.5% in the financial year beginning April 1, up from 5% in current monetary

To accomplish GDP of $5 trillion by 2024-25, India needs to spend about $1.4 trillion over these years on framework

Current Account Deficit (CAD) limited to 1.5 % of GDP in H1 of 2019-20 from 2.1 % in 2018-19

India’s BoP position improved from US$ 412.9 bn of forex saves in end-March, 2019 to US$ 461.2 bn as on tenth January 2020.

Net FDI inflows were US$ 24.4 bn in the initial eight months and Net FPI in the initial eight months of 2019-20 remained at US$ 12.6 bn.

Outside Debt Remains low at 20.1% of GDP as toward the finish of September 2019.

The Gross Non-performing Advance Ratio:

• Stayed unaltered for Scheduled Commercial banks at 9.3% among March and September 2019.
• Expanded marginally for the Non-Banking Financial Corporations (NBFCs) from 6.1% in March 2019 to 6.3% in September 2019.

Bank Credit development directed from 12.9% in April 2019 to 7.1% as on December 20, 2019.

About 76.7 % of the families in the provincial and around 96 % in the urban territories had places of the pucca structure

(TEST YOUR KNOWLEDGE)

Model questions: (You can now post your answers in the comment section)

Q.1  When the annual Union Budget is not passed by the Lok Sabha? 

1. The Budget is modified and presented again
2. The Budget is referred to the Rajya Sabha for suggestions
3. The Union Finance Minister is asked to resign
4. The Prime Minister submits the resignation of Council of Ministers

Q 2.  What is the difference between “vote-on-account” and “interim budget” ?

1. The provision of a “vote-on-account’’ is used by a regular Government, while an “interim budget’’ is a provision used by a caretaker Government
2. A “vote-on-account’’ only deals with the expenditure in the Government budget, while an

“interim budget’’ includes both expenditure and receipts

Which of the statements given above is/are correct?

1. 1 only 
2. 2 only
3. Both 1 and 2 
4. Neither 1 nor 2

Q 3. Under which one of the following Constitution Amendment Acts, Bodo language was added to the list of languages under the Eighth Schedule of the Constitution of India, thereby raising their number to 22? 

1. Constitution (Ninetieth Amendment) Act
2. Constitution (Ninety-first Amendment) Act
3. Constitution (Ninety-second Amendment) Act
4. Constitution (Ninety-third Amendment) Act

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