Current Affairs 25th January

National Affairs

1. In contrast to agriculture, mangrove cultivation will be subject to 18% GST: AAAR

 

The cultivation of mangroves is distinct from agriculture, according to the Appellate Authority for Advance Rulings (AAAR), and as such, it will not be exempt from the Goods and Services Tax (GST). 18% GST will be levied on it.

 

With this, the West Bengal Authority of Advance Ruling (AAR)’s decision was upheld by AAAR.

 

What took place?

 

The applicant requested a ruling from the West Bengal AAR that his activities be exempt from GST. The applicant cultivates mangrove seeds into seedlings in nurseries with the goal of protecting the environment from cyclones and tidal waves.

 

However, in accordance with AAAR, the applicant’s activities will only be considered “support services to agriculture, forestry, fishing, and animal husbandry” if they are connected to the cultivation of plants and the rearing of all life forms of animals, with the exception of horses, for the purpose of producing food, fiber, fuel, raw material, or other products that are comparable.

 

Therefore, the cultivation of plants for the production of food, fiber, fuel, raw materials, or other similar goods is not the focus of his services. The appellant’s activities will not fall under chapter heading 9986, which covers activities that support agriculture and are therefore subject to GST.

 

2. To digitize India’s universal immunization program, the government of India launches U-WIN.

 

U-WIN, a platform designed to digitize India’s Universal Immunization Program (UIP), has been launched by the Government of India (GoI) in a pilot program in two districts from each State and Union Territory (UT).

 

Due to the effectiveness of the Co-WIN platform, the GoI initiated this move and replicated it by establishing this digital registration for routine vaccinations.

 

Co-WIN, which was launched in January 2021 in 65 districts and serves as the “digital backbone” of India’s COVID-19 immunization program, is modelled after the U-WIN platform.

 

The Ministry of Health and Family Welfare (MoH&FW) first introduced the Universal Immunization Program (UIP) in 1978 as an “Expanded Programme of Immunization” (EPI).

When it was expanded beyond urban areas in 1985, it received the new name “Universal Immunization Programme” (UIP). The GoI provides all of the funding.

 

3. To promote medical value travel in India, the AYUSH Ministry entered into an agreement with ITDC.

 

In order to collaborate on the promotion of Medical Value Travel (MVT) in Ayurveda and other traditional medical systems, the Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha, and Homoeopathy (AYUSH) has signed a Memorandum of Understanding (MoU) with the India Tourism Development Corporation (ITDC), Ministry of Tourism.

 

In the presence of Pramod Kumar Pathak, special secretary of AYUSH, and other senior officials from the Ministry of Ayush and ITDC, Dr. Shashi Ranjan Vidyarthi, Director of the AYUSH, and Piyush Tiwari, Director (Commercial and Marketing) of ITDC, signed the Memorandum of Understanding.

 

A Joint Working Group (JWG) that is co-chaired by ITDC and MoA representatives will keep an eye on the implementation of the MoU and its progress.

Specifics of the MoU:

 

As part of this memorandum of understanding, the Ministry of AYUSH will instruct ITDC employees on the MVT in Ayurveda and other traditional medical systems.

In order to promote MVT in Ayurveda and other traditional medical systems, the Ministry will identify tourist circuits and provide ITDC with all necessary technical expertise.

 

Under the umbrella of “Knowledge Tourism,” ITDC will, at the suggestion of the AYUSH, produce films and literature that tourists will find useful, and it will include historical heritage sites of Indian medical systems in tourist destinations.

It will collaborate on the organization of workshops to raise awareness of Ayurveda and Yoga in ITDC-run hotels.

 

The JWG will determine which of Malaysia, Singapore, Thailand, and so on are the most effective methods. to advertise themselves as an MVT destination of choice.

 

Key Points:

 

At the First Health Working Group meeting held under India’s G20 presidency on January 18, 2023 in Thiruvananthapuram, Kerala, delegates from the G20 discussed the opportunities and challenges associated with promoting MVT in India.

 

The report “The Global Wellness Economy:” published by the Global Wellness Institute (GWI), The Global Wellness economy will expand at a rate of 9.9% annually, “Looking Beyond COVID.”

 

By 2025, it is anticipated that the Ayush-based healthcare and wellness economy will reach USD 70 billion.

 

4. MoYAS establishes an Oversight Committee to investigate allegations against WFI, led by MC Mary Kom.

 

An Oversight Committee has been established by the Ministry of Youth Affairs and Sports (MoYAS) to investigate allegations of sexual misconduct, harassment, and financial irregularities at the Wrestling Federation of India (WFI) made by prominent athletes. It will be led by Khel Ratna Awardee (Boxing) MC Mary Kom, Chairperson of the Athletes Commission of the Indian Olympic Association (IOA).

 

Members: 

 

Khel Ratna winner Yogeshwar Dutt (wrestler), executive council member of the Indian Olympic Association; Dhyan Chand winner Trupti Murgunde (badminton), member of Mission Olympic Cell; Radhica Sreeman, ex-executive director of TEAMS at the Sports Authority of India (SAI); and Crd (Retd) Rajesh Rajagopalan, former CEO of the Target Olympic Podium Scheme. The oversight committee will complete it.

 

International Affairs

1. In 2020, India is one of the top three countries expanding organic farming; Tops: Argentina

The data provided by IFOAM -Organics International, based in Bonn, Germany, place India third globally, with an area under organic agriculture that increased to 3,59,000 hectares (16%) by 2020.

 

Argentina tops this list with 7,81,000 hectares, an increase of 21%, followed by Uruguay with 5,89,000 hectares.

 

In total, there will be an increase of 3 million hectares under organic cultivation worldwide by 2020 (MH).

 

The International Federation of Organic Agriculture Movements is spelt IFOAM.

 

Key Points:

 

Australia has the highest number of MH under organic farming, with 35.7 MH, followed by India with 2.8 MH.

 

India has 16 lakh certified organic farmers out of a total of 34 lakh organic producers worldwide.

 

It is important to note that the proposal made by the Ministry of Agriculture & Farmers Welfare to launch the National Mission on Natural Farming (NMNF) for Rs 2,481 crore has not yet received approval from the Union Cabinet.

 

The goal of the mission is to implement non-chemical natural farming on 7.5 lakh hectares for 7.5 lakh farmers starting in the current fiscal year (FY23).

 

Farmers will receive a maximum of Rs 15,000 per hectare under the plan (through 2025-26), subject to income loss.

 

Banking and Finance

1. By December 31, 2023, the RBI requires banks to complete renewal agreements for existing safe deposit lockers.

 

The Reserve Bank of India (RBI) extended the date by which banks must complete the renewal process for safe deposit locker holders by December 31, 2023, effective January 1, 2023.

 

Banks have been instructed to ensure the availability of stamp papers, among other things, in order to facilitate the execution of the revised agreements.

 

Operations in lockers that have been frozen due to non-compliance with the agreement by January 1, 2023, will be unfrozen immediately.

 

In accordance with RBI’s authority granted by sections 35A and 36(1)(a) of the Banking Regulation (BR) Act, 1949, SBM Bank (India) Ltd. was instructed to immediately halt all LRS transactions until further orders were issued.

 

About India’s Reserve Bank (RBI):

 

In accordance with the Reserve Bank of India Act of 1934, the Reserve Bank of India was established on April 1, 1935.

 

The Reserve Bank’s Central Office was initially established in Calcutta, but in 1937, it was permanently relocated to Mumbai.

 

The Reserve Bank is wholly owned by the Indian government, despite the fact that it was initially owned privately until it was made a national bank in 1949.

 

2. AIF surpasses Rs. Capital Raised of 30,000 Crores for Agriculture Infrastructure Projects

 

The Agriculture Infrastructure Fund (AIF), as reported by the Ministry of Agriculture & Farmers Welfare (MoA&FW), has raised more than Rs. a sanctioned sum of Rs. 30,000 crores in capital for agricultural infrastructure projects of 15,000 crores.

 

First, the Agriculture Infrastructure Fund (AIF). On July 8, 2020, the AIF financing facility was launched in India for the development of post-harvest infrastructure and community farm assets.

 

The Department of Agriculture and Farmers Welfare (DA&FW) of the Ministry of Agriculture and Fisheries designed it as a Central Sector Scheme (CSS).

 

This plan would distribute Rs. 1 lakh crore by the fiscal year 2025-2026, and support for interest subsidy and credit guarantee will continue until 2032-2033.

 

Projects for agricultural infrastructure at the farm gate and at the aggregation points (Primary Agricultural Cooperative Societies, Farmer Producer Organizations, Agriculture Entrepreneurs, Start-Ups, and others) will be paid for with this Rs. financing facility. 1 million crores. It also helps other groups like Joint Liability Groups (JLGs) and Self-Help Groups (SHGs).

 

Borrowers who meet the eligibility requirements for this financing facility would be able to take advantage of credit guarantee coverage for loans totalling up to Rs. 2 crores.

 

All loans made with this financing facility will receive an annual interest subsidy of 3%, up to a maximum of Rs. 2 crores. The duration of this subsidy will not exceed seven years.

 

It makes it possible to integrate all plans of the Union or State governments.

Improved prices for farmers’ produce, modernization of agricultural programs and practices, and fewer losses after harvest are all made possible by infrastructure projects.

 

3. SwipeUp, the Credit Card Offering Platform, Is Now Available at AU Small Finance Bank.

 

The first-of-its-kind SwipeUp platform was launched on January 23, 2023, by AU Small Finance Bank Limited, India’s largest Small Finance Bank (SFB). This platform lets another bank Credit Cardholders upgrade their AU Credit Cards.

 

The cards that are issued by the SwipeUp platform are distinct from the credit cards that are currently offered by AU Small Finance Bank. This new feature for customers of credit cards is comparable to mobile number portability, which permits users to change the service they receive while maintaining the same number. Customers will receive a high-value offer from the new card range. This card is made of biodegradable plastic with the goal of keeping the environment healthy.

 

Highlights of note:

 

Customers can customize the benefits of their credit cards using the SwipeUp platform. Customers who have Credit Cards from any other Bank and are eligible to receive an upgraded Credit Card that better suits their current lifestyle are the primary focus of the bank.

 

Other banks’ credit card holders can quickly and easily verify their eligibility for card upgrades by providing information about their previous cards.

 

These cards will have more credit available, more cash back, more reward points, and a digital application process that is quick and easy from start to finish. There will also be no membership fees on these cards.

 

Note: Earlier in 2023, AU SFB introduced LIT, a fully customizable credit card designed to assist customers in selecting a card tailored to their requirements.

 

4. ICICI Bank and Tata Motors collaborate to provide financing options to their EV dealers.

 

In order to provide financing options to its authorized passenger Electric Vehicle (EV) dealers, Tata Motors has partnered with ICICI Bank. In accordance with this, in addition to funding dealers of diesel and gasoline models, the bank will provide inventory financing to authorized passenger EV dealers.

 

The goal of this partnership is to make electric vehicle purchases easier and more accessible. Flexible repayment terms are also available to EV dealers.

 

Science & Technology

1. The Kalvari-Class Submarine Safely Integrates Indigenous Systems Through an Agreement Between DRDO and Naval Group France

 

The Safeguard Innovative work Association (DRDO) and Maritime

Bunch France has consented to an arrangement that would enormously work on the perseverance of the Indian Naval force’s Scorpene-class traditional submarines.

 

The agreement stipulates that the fuel-cell-based Air Independent Propulsion (AIP) system of the Naval Materials Research Laboratory (NMRL) will soon be installed on the Indian Naval Ship (INS) Kalvari, giving “Aatmanirbhar Bharat” a significant boost. The DRDO’s Indian defence laboratory is called NMRL.

 

Key Points:

 

The design process for incorporating indigenous AIP into Kalvari-class submarines will be enhanced as a result of this agreement.

 

Mazagon Dock Shipbuilders Limited (MDL), based in Mumbai, Maharashtra, has produced submarines of the Kalvari class.

 

As part of the agreement, Naval Group France will approve the AIP design for use in submarines. Naval Group France’s Chairman and Chief Executive Officer are Pierre Eric Pommellet.

 

The system I of Air Independent Propulsion (AIP). Due to the AIP’s multiple-fold increase in submerged endurance, a diesel-electric submarine’s lethality is increased by a force multiplier.

 

It performs better than other technologies and stands out because hydrogen is produced onboard.

 

The prototype on land has been put to the test, and the technology is now ready for industrialization.

 

The Scorpene Class of Submarines: Project 75

 

Six Scorpene submarines are being manufactured by the MDL as part of “Project-75” in accordance with an agreement worth $3.75 billion that was signed in October 2005. Naval Group France is providing the technology for these submarines.

 

In December 2017, the first submarine, “INS Kalvari,” was launched. It was followed in September 2019 by the second submarine, “INS Khanderi,” in March 2021 by the third submarine, “INS Karanj,” and in November 2021 by the fourth submarine, “INS Vela.”

 

The 5th conventional submarine in the Scorpene class, “INS Vagir,” was put into service by the Indian Navy on January 23, 2023.

 

The Indian Navy will receive the sixth and final Scorpène-class submarine, dubbed “Vagsheer,” by the end of 2023. It was launched into the sea in April 2022.

Economy and Business

1. Through Cyber Sangini, OPPO India and Meity’s CSC collaborate to provide 10,000 women with cybersecurity training.

 

The Cyber Sangini program, a 45-day course designed to empower rural and semi-urban women by training them in the fundamentals of cybersecurity and cyber wellness, was developed in collaboration with the Common Service Centre (CSC) Academy, the Education & Corporate Social Responsibility (CSR) wing of Common Service Centres (CSC) under the Ministry of Electronics and Information Technology (MeitY), Government of India (GoI). This initiative aims to equip women with the skills and knowledge necessary to become certified “C

 

After completing the course, participants will receive a certificate from either the Centre for Development of Advanced Computing (C-DAC) or the National Institute of Electronics and Information Technology (NIELIT). They will be able to find jobs as a result of this.

 

Every citizen can use the existing laws and frameworks that Cyber Sanginis will be trained in to protect themselves from such cyber incidents.

 

2. Bharat Dynamics and MSDE collaborate to promote the Apprenticeship Training Framework.

 

An apprenticeship training framework has been developed by the Ministry of Skill Development and Entrepreneurship (MSDE) in collaboration with Bharat Dynamics Limited (BDL), which is part of the Ministry of Defense (MoD). The goal of this partnership is to address the need for a workforce that is skilled and ready for the future in the Central Public Sector Undertaking and industries.

 

The collaboration has resulted in the employment of more than 250 apprentices at the BDL facility in Hyderabad, Telangana, where the cutting-edge air missile known as the “Astra” is manufactured.

 

At this facility, three of the five parts of these missiles are made. On-the-job training in various areas of the facility and exposure to other industries will be provided to the apprentices.