DAILY CURRENT AFFAIRS

By admin: July 2, 2022

GST collections up 56% to ₹1.44 lakh crore in June

Tags: Economy/Finance

Goods and Services Tax (GST) revenue rose to ₹1.44 lakh crore in June, a 56 per cent increase over the same month last year.

• The GST collection in June last year was Rs 92,800 crore.

• Revenue from imports of goods grew 55%, while imports of domestic transactions and services were up 56% in June.

• The GST revenue in the month of May was around ₹ 1.41 lakh crore.

• This is the fifth time the monthly GST collection crossed the 1.40 lakh crore rupees mark since the inception of GST. 

• The average monthly gross GST collection for the first quarter of 2022-23 stands at ₹1.51 lakh crore as against ₹1.10 lakh crore in the corresponding quarter last year, showing a growth of 37%.

• Several States record over 50% growth

• Tamil Nadu registered a growth of 83% in June GST collection, followed by Uttarakhand (82%), Haryana (77%), Karnataka (73%), Maharashtra (63%), West Bengal (58%), Rajasthan (56 %), followed by Punjab (51%) and Gujarat (50%).

• Reason for increase in GST collection

• economic recovery, anti-evasion activities, especially action against fake billers have contributed to the enhanced GST.

• What is GST?

• It is a value-added tax levied on most goods and services sold for domestic consumption.

• It is an indirect tax that has replaced many indirect taxes in India such as excise duty, VAT, services tax, etc.

• GST is levied at four rates 5%, 12%, 18% and 28%.

• The Goods and Services Tax Act was passed in the Parliament on 29 March 2017 and came into force on 1 July 2017.

Indian origin T Raja Kumar takes over as President of FATF

Tags: Person in news

Indian-origin T Raja Kumar has taken over as the chairman of the Financial Action Task Force (FATF), the world's anti-terror financing agency.

• He has over 35 years of experience in leadership and operations in Singapore's Ministry of Home Affairs and Police Forces.

• Raja Kumar will replace Dr. Marcus Pleier as head of the FATF and will hold the position for two years.

• Raja Kumar has played a major role in the field of security with strategic partners such as Interpol and the UN.

• Since July 2018, he has also been a member of the Steering Group, which advises the FATF President.

• Since 1992, Singapore has been a member of the FATF.

• Raja has been instrumental in directing Singapore's efforts to combat money laundering and the financing of terrorism.

• Financial Action Task Force (FATF)

• It was formed in the year 1989 at the meeting of G-7 countries held in Paris.

• It works to generate the necessary political will to bring about legislative and regulatory reforms in the world on issues like money laundering, terror funding.

• Headquarters - Located in the headquarters of the Organization for the Development of Economic Co-operation (OECD) in Paris.

• Member Countries - 39 member countries including India and 2 regional organizations (European Commission and Gulf Cooperation Council).

• India became a member of FATF in the year 2010.

• Its sessions are held three times a year.

India's largest floating solar plant commissioned in Telangana

Tags: National News

NTPC announced commercial operation of the last part of 20 MW capacity out of 100 MW Ramagundam Floating Solar PV Project at Ramagundam, Telangana from July 1.

• With the commissioning of the 100 MW Solar PV Project at Ramagundam, the total commercial operation of floating solar capacity in the Southern Region increased to 217 MW.

• Earlier, NTPC had announced commercial operation of 92 MW floating solar at Kayamkulam (Kerala) and 25 MW floating solar at Simhadri (Andhra Pradesh).

• With this, the standalone installed and commercial capacity of NTPC has become 54,769.20 MW.

• About the 100 MW Floating Solar Project 

• The 100 MW Floating Solar Project at Ramagundam is fitted with advanced technology and eco-friendly facilities.

• The project is spread over 500 acres of its reservoir.

• The project has been constructed as an EPC (Engineering, Procurement and Construction) contract by BHEL with the help of Rs 423 crore.

• It is divided into 40 blocks and each having 2.5 MW.

• Each block consists of one floating platform and a formation of 11,200 solar modules.

• The floating platform consists of an inverter, transformer and HT breaker.

• With the presence of floating solar panels, the rate of evaporation from water bodies is reduced, which helps in water conservation.

• About 32.5 lakh cubic meters of water can be saved from evaporation every year.

DRDO carries out maiden flight of unmanned combat aircraft

Tags: Defence Science and Technology

The Defense Research and Development Organization (DRDO) successfully carried out the maiden flight of the Autonomous Flying Wing Technology Demonstrator from the Aeronautical Test Range in Chitradurga, Karnataka on July 1.

• The aircraft performed a complete flight, including take-off, way point navigation and touchdown.

• The flight was conducted in a fully autonomous mode.

• It is designed and developed by the Bengaluru-based Aeronautical Development Establishment (ADE), a premier research laboratory under the DRDO.

• The unmanned fighter aircraft is powered by a small, turbofan engine.

• The vehicle's airframe, as well as its undercarriage, flight control and avionics systems, were indigenously developed.

• The program is associated with the development of India's fifth generation stealth fighter Advanced Medium Combat Aircraft or AMCA.

• Defence Research and Development Organisation (DRDO)

• It is a premier defence research and development agency under the Ministry of Defence, Government of India.

• It aims to make India self-reliant in critical defence technology and systems.

• It was set up in 1958.

• Headquarters - New Delhi 

• Chairman - G. Satheesh Reddy

Indian Army, Air Force join to conduct landmark cycling expedition from Delhi to Drass

Tags: Defence National News

To commemorate 75 years of India's independence, the Indian Army and the Indian Air Force have joined forces to conduct a historic cycling expedition from Delhi to Drass beginning on 22 July. 

• The team of cyclists will be led by Major Srishti Sharma of Corps of Signals.

• The Indian Air Force team is led by Squadron Leader Maneka.

• The team comprises 20 soldiers and air warriors and will be led by two women officers of the Army and Air Force.

• The expedition was flagged off on July 2 at morning from the National War Memorial in New Delhi.

• The cyclists will cover a distance of 1,600 km in 24 days.

• The expedition will culminate on the 26th of this month at the Kargil War Memorial in Drass in memory of the brave martyrs who made the supreme sacrifice during the Kargil War.

• The expedition will proceed through Punjab before entering Himachal Pradesh.

• Aim of the expedition

• Cyclists interact with school children at various stages along the way to raise the energy of young Indians towards nationalism.

• They will act as a beacon to guide the immeasurable enthusiasm and zeal of the future leaders of the country.

NITI Aayog releases compendium of various Ayush-based initiatives

Tags: Popular National News

NITI Aayog has released a compendium of AYUSH based medical interventions from States and Union Territories.

• The name of this compendium is "Mitigation and Management of COVID-19: Compendium of AYUSH-Based Practices from Indian States and Union Territories".

• This compendium gives detailed information on various AYUSH-based initiatives and measures taken by the States and Union Territories in view of the outbreak of COVID-19 pandemic.

• It was released by NITI Aayog Vice-Chairman Suman Beri and Minister of State for AYUSH and Women and Child Development Dr. Munjpara Mahendrabhai Kalubhai.

• In preparing this compendium of AYUSH-based measures, NITI Aayog has contacted all the States and Union Territories and urged them to share the AYUSH measures taken in mitigating and managing the COVID-19 pandemic.

• The report indicated that there is a need to further strengthen the traditional health systems in the country.

• The compendium also includes a summary of the Ministry of AYUSH, guidelines and initiatives of the Government of India.

• The measures mentioned in the collection were divided into five categories:

1. Information about the targets of the measures adopted by the States and Union Territories

2. AYUSH Human Resource and Infrastructure

3. Quick Actions and Initiatives

4. Digital Platforms and Tele-medicine

5. Issues to arise or to be resolved

• About NITI Aayog

• It is the premier policy think tank of the Government of India, it provides directional and policy inputs.

• It designs strategic and long-term policies.

• It also provides relevant technical advice to the Centre, States, and Union Territories.

• The Governing Council of NITI Aayog is chaired by the Prime Minister and includes the Chief Ministers of all the States and Union Territories and the Lieutenant Governors of other Union Territories. 

• It was constituted on January 1, 2015.

• NITI stands for National Institution for Transforming India.

• The Government of India constituted the NITI Aayog to replace the Planning Commission, which was set up in 1950.

• This step was taken to better meet the needs and aspirations of the people.

New Manufacturing Facilities at Bharat Dynamics Limited Dedicated to the Nation

Tags: Defence National News

Defence Minister Rajnath Singh dedicates to the nation new manufacturing facilities at Bharat Dynamics Limited, Bhanur.

• Rajnath Singh visited the Bhanur Unit of Bharat Dynamics Limited (BDL) in Telangana on July 2, 2022.

• During his visit he dedicated to the Nation a number of new manufacturing facilities set up by the Defence Public Sector Undertaking (DPSU).

• These include the Warhead Facility at Bhanur Unit and Radio Frequency (RF) Seeker Facility at Kanchanbagh Unit.

• Rajnath Singh also unveiled a statue of the Father of the Nation Mahatma Gandhi in the BDL campus.

• Bharat Dynamics Limited (BDL)

• It is a Government of India Enterprise under the Ministry of Defence.

• It was established in Hyderabad in the year 1970. 

• It manufactures guided missiles and allied defence equipment for the Indian Armed Forces.

• It has been working in collaboration with DRDO and foreign Original Equipment Manufacturers (OEMs).

Habitat World Cities Report 2022

Tags: Popular International News

Recently the United Nations published its report titled "Habitat World Cities Report 2022".

• The urban population in India is projected to reach 675 million in 2035. This will be the second highest figure after China.

• After the COVID-19 pandemic, the global urban population is on the rise again. This will increase to 2.2 billion by 2050.

• India's urban population is expected to reach 675,456,000 in 2035 as compared to 483,099,000 in 2020.

• The percentage of population in India's urban areas will be 43.2 percent by 2035.

• Global scenario

• The urban population in China is projected to reach 1.05 billion in 2035.

• The urban population in Asia will increase to 2.99 billion in 2035.

• In the past two decades, India and China experienced rapid urbanisation and economic growth. As a result, the number of people living in poverty has decreased.

• Large economies like China and India account for the bulk of the world's population. The growth trajectory in these countries has affected global inequality.

• About United Nations Human Settlement Program (UN-Habitat) -

• It was established in 1978.

• UN-Habitat is the United Nations agency for human settlements assigned by the United Nations General Assembly the task of promoting socially and environmentally sustainable towns and cities towards the goal of providing affordable housing for all.

• Headquarters- Nairobi, Kenya

• Executive Director- Maimunah Mohammad Sharif

Ferdinand Marcos Jr. is sworn in as the Philippines 17th president

Tags: Person in news International News

Ferdinand Marcos Jr. sworn in as the 17th President of the Philippines.

• Ferdinand Marcos Jr took the oath at the National Museum of Fine Arts in Manila.

• Ferdinand Marcos Jr. will serve as president until 2028.

• Ferdinand Marcos Jr. has replaced Rodrigo Duterte, who served as the President of the Philippines from 2016 to 2022.

• Sara Duterte Carpia has been elected Vice President.

• Marcos Jr. won the presidential election in May with 60 percent of the vote over rival Maria Leonor Robredo.

• The President is the head of the executive branch of the Philippine government. The President is directly elected by the people.

• The term of the President in the Philippine Constitution is six years.

• About Philippines 

• The Philippines is a country located in Southeast Asia.

• It got complete independence on 4 July 1946 after the Second World War.

• It is the country with the fifth longest coastline in the world.

• The Philippines is the second largest producer of geothermal energy in the world, after the United States.

• Capital - Manila

• Currency - peso

Ashadhi Bij - The Kutch community's New Year

Tags: Popular National News

Ashadhi Beej is celebrated every year on the second day of the month of Ashadha as Hindu New Year by the Kutch community in the Kutch region of Gujarat.

• Important facts

• In 2022, it was celebrated on 1 July. It is also known as Kutchi New Year.

• Kutchi New Year is a traditional festival and is celebrated in homes.

• This festival marks the beginning of rains in the Kutch region of Gujarat.

• During Ashadhi seed, the humidity in the atmosphere is tested to predict which crop will do better in the coming monsoon.

• Lord Ganesha, Goddess Lakshmi and other regional deities are worshipped on this occasion.

• In other parts of Gujarat, the Hindu New Year is celebrated on Kartik Shukla Paksha after Diwali.

• Rann of Kutch

• The Rann of Kutch in India is located in the Thar Desert biogeographic region in the Indian state of Gujarat. This area is also spread in the Sindh province of Pakistan.

• The Rann of Kutch covers a vast area of about 10,000 square miles and is located between the Gulf of Kutch and the mouth of the Indus River in southern Pakistan.

• In the north-east corner of the Rann of Kutch is the Luni River, which originates from Rajasthan.

• The Rann of Kutch is counted among the wetlands of India.

• The Gulf of Kutch lies to the west of this region and the Gulf of Khambhat is to the east.

• The region is home to a large population of the wild Asian donkey, which is a member of the wild horse family.

• The Indian Wild Ass Sanctuary is famous for the Chote Rann of Kutch.

• The Rann of Kutch is the only region in India that gives refuge to migratory flamingos.

• The region is home to a total of 13 species of lark.

• Some of the other bird species found in the marshlands of Kutch include Ibis, Spoonbill, Common Crane, Pelican etc.

• The Biosphere Reserve of the Rann of Kutch is considered an important area for the conservation of critically endangered vulture species.

International Cooperative Day

Tags: Important Days

International Cooperative Day is celebrated every year on the first Saturday of July. This year the day was observed on 2nd July to highlight the contribution of the cooperative movement.

• Important facts

• The day aims to spread awareness about cooperatives by highlighting how the United Nations shares common goals and objectives of the international cooperative movement.

• This year's #CoopsDay slogan is - "Cooperatives Build a Better World".

• On July 2 this year, cooperatives across the world are celebrating the 100th International Cooperative Day (#CoopsDay).

• This is the 28th International Co-operative Day recognized by the United Nations.

• The United Nations General Assembly (UNGA) passed a resolution on 16 December 1992 to declare the first Saturday of July 1995 as Cooperative Day.

• It was formed to mark the centenary of the founding of the International Co-operative Alliance, formed in 1895.

• About International Cooperative Alliance (IAC) 

• It was founded in 1895 to unite, represent and serve cooperatives around the world.

• The ICA represents 313 cooperative associations and organisations in 109 countries.

• Headquarters - Brussels, Belgium

• President - Ariel Guarco

"Hermit" - A new spyware

Tags: Science and Technology

Lookout, a cloud-based security company, recently discovered a new spyware called "Hermit".

• Important facts

• Hermit spyware is capable of affecting Android and iOS devices.

• As TechCrunch reports, security researchers from Lookout have reported that national governments have used the Android version of Hermit spyware in "targeted attacks" in Kazakhstan and Italy.

• Hermit spyware

• Hermit is a commercial spyware and has been used by governments in northern Syria, Kazakhstan and Italy.

• It was first detected in Kazakhstan in April 2022, when the government violently suppressed protests against its policies.

• It was also deployed in Syria's north-eastern Kurdish region and by Italian authorities for anti-corruption investigations.

• How does Hermit work?

• According to the report, the Hermit Android app is distributed via text message.

• The message seems to be coming from a legitimate source.

• The malware can impersonate telecommunications companies and other apps developed by manufacturers such as Oppo and Samsung.

• Malware Effects on Android and iOS Devices

• The Hermit Android malware is modular because it allows spyware to download additional components that are required for the malware to run.

• Like other spyware, Hermit malware also uses various modules to record audio as well as collect call logs, messages, photos, emails.

• It can redirect phone calls and reveal the exact location of the device.

• Spyware

• Spyware is a type of malware that is installed on a computer and collects information about users in the non-knowledge of them.

• The presence of spyware is usually hidden from users.

• Spyware is secretly installed on users' personal computers.

• Spyware collects a variety of personal information, such as Internet surfing habits and the sites that are visited.

PM Modi launches 'Raising and Accelerating MSME Performance' scheme

Tags: Economy/Finance Government Schemes

Prime Minister Narendra Modi launched the 'Raising and Accelerating MSME Performance' (RAMP) scheme under the Entrepreneur India Program at Vigyan Bhawan, New Delhi.

• RAMP Scheme

• The scheme was announced by the Finance Minister in the Union Budget 2022-23.

• Recommendations for RAMP Scheme KV Kamath Committee, UK Sinha Committee and the Prime Minister's Economic Advisory Council (PMEAC).

• It is a World Bank assisted central sector scheme under which the Ministry of Micro, Small and Medium Enterprises (MoMSME) is providing necessary support to address the challenges related to COVID-19.

• The total financial outlay for the RAMP scheme is Rs 6,062.45 crore ($808 million).

• The World Bank will provide a loan of Rs 3750 crore ($500 million) for this program and the remaining Rs 2312.45 crore ($308 million) is being funded by the central government.

• Program Objective

• The objective of the scheme is to improve access to credit and markets, as well as strengthen institutions and governance in the state and at the Centre.

• It will also look at improving Centre and State partnerships as well as resolving issues related to delayed payments.

• MSME capacity will also be increased through this program and MSME coverage will also be increased in the states and union territories.

• The scheme will promote skill development, capacity building, technology up-gradation, quality enhancement, outreach, digitization, marketing promotion etc.

• Plan implementation and monitoring

• Strategic Investment Plans (SIPs) will be prepared for the implementation of RAMP and all the States and Union Territories of the country will be invited to provide inputs.

• An outreach plan will be made to mobilise and identify MSMEs through SIPs.

• The National MSME Council, which will be chaired by the Minister of MSME and comprising representatives from other ministries as well as a Secretariat, will monitor and evaluate the scheme.

GST (Goods and Services Tax) Day

Tags: Economy/Finance Important Days

To commemorate the anniversary of the implementation of the historic tax reform of the Goods and Services Tax, 1 July is observed as GST (Goods and Services Tax) Day.

• Important facts

• The first GST Day was celebrated on 1st July 2018 to mark the first anniversary of the new indirect tax regime i.e. Goods and Services Tax (GST).

• GST was implemented on the intervening night of 30 June and 1 July 2017 in a function held in the Central Hall of Parliament.

• On 29 March 2017, the Goods and Services Tax Act was passed in the Parliament and the Act came into force on 1 July 2017.

• GST was enacted as the 101st Constitutional Amendment Act, 2016.

• What is GST?

• GST is an indirect tax which has been implemented with the aim of making India a unified common market.

• It is a single tax levied on the supply of goods and services from the producer to the consumer.

• Under GST, on the one hand indirect taxes like Central Excise Duty, Additional Excise Duty, Service Tax, Countervailing Duty are included at the Central level.

• On the other hand, state-levied value addition tax, entertainment tax, octroi and entry tax, luxury tax, etc. are also included.

• It was introduced with the slogan 'One Nation One Tax'.

• Tax Structure under GST

• Central GST (CGST) to cover excise duty, service tax etc.

• State GST (SGST) to cover VAT, luxury tax etc.

• Integrated GST (IGST) to cover inter-state trade.

• IGST itself is not a tax but a tax system to coordinate state and union taxes.

• It has a 4-tier tax structure of 5%, 12%, 18% and 28% for all goods and services under the slab.

India's first National Coalition Forum for Urban Nature-Based Solutions (NbS)

Tags: National News

India's first National Coalition Forum for Urban Nature-Based Solutions (NbS) was launched at the 11th World Urban Forum in Poland.

• Important facts

• The National Alliance Forum was launched by the National Institute of Urban Affairs (NIUA), Climate Centre for Cities (NIUA C-Cube), World Resources Institute India (WRI India-World Resources Institute India) and their partners.

• NIUA focuses on research, knowledge management, policy, advocacy and capacity building on urban development and management to develop sustainable, inclusive and productive urban ecosystems in the country.

• About nature based solutions(NBS)

• NbS is defined by the International Union for Conservation of Nature (IUCN) as the act of protecting, sustaining, managing and restoring natural and modified ecosystems that contribute to human well-being and biodiversity while effectively and adaptively addressing social challenges. associated benefits.

• NbS helps in mitigating the impact of climate change as well as providing benefits to many ecosystems including addressing various social challenges, building disadvantaged and vulnerable urban communities most affected by climate change induced disasters.

• About World Urban Forum

• The World Urban Forum (WUF) is the premier global conference on sustainable urbanism.

• WUF was established in 2001 by the United Nations to investigate rapid urbanisation and its impact on communities, cities, economies, climate change and policies.

• WUF11 is co-organized by UN-Habitat, Poland's Ministry of Development Fund and Regional Policy, and the Municipal Office of Katowice, Poland.