GST Compensation
Part of: Prelims and GS III – Cybersecurity
Context The Ministry of Finance has released ₹44,000 crore to the States and UTs with Legislature under the back-to-back loan facility in lieu of GST Compensation.
Key takeaways
- After taking into account earlier release of ₹1,15,000 crore, total amount released in the current financial year as back-to-back loan in-lieu of GST compensation is ₹1,59,000 crore.
- This release is in addition to normal GST compensation being released every 2 months out of actual cess collection.
Background
- Subsequent to the 43rd GST Council Meeting held on 28th May 2021, it was decided that the Central Government would borrow ₹1.59 lakh crore and release it to States and UTs with Legislature on a back-to-back basis to meet the resource gap due to the short release of Compensation.
About GST Compensation
- Before GST, States had the power to levy some indirect taxes on economic activity. Therefore, after GST regime was introduced (in 2017), the Centre promised guaranteed compensation to the States for the first five years, for the revenues they lost after the shift from the earlier system.
- The compensation is calculated at a growth rate of 14% keeping 2015-16 as the base year and by levying a Compensation Cess on Sin and luxury goods.
China to build military base in Tajikistan
Part of: Prelims and GS II – International Relations
Context China will take full control of a military base in Tajikistan near the Afghan border that it has been quietly operating and will also build a new base for the Tajik Government.
Key takeaways
- Tajikistan granted approval for the construction of a new base, following an agreement between Tajikistan and China.
- The agreement was signed by the China’s Public Security Ministry, and not the Chinese military which suggests a focus on counterterrorism amid rising concerns over instability in neighbouring Afghanistan.
- The new base would be owned by Tajikistan’s Rapid Reaction Group and financed by China for a cost of $10 million.
- It will be located in the eastern Gorno-Badakhshan autonomous province near the Pamir mountains, and Chinese troops will not be stationed there.
- Tajikistan Government has also agreed to transfer full control a former Soviet base near the China-Tajikistan-Afghanistan tri-junction and the Wakhan Corridor, where China shares a less than 100 km border with Afghanistan.
- The base, once full control has been transferred, will become only the second known overseas Chinese security facility, after Djibouti near the Horn of Africa .
Do you know?
- Russia and India are among countries that already have a military presence in bases in Tajikistan.
China submits new climate plan to UN
Part of: Prelims and GS III – Cliamte change
Context China, by far the world’s largest polluter, has renewed its emissions cutting plan with a promise to peak carbon pollution before 2030.
Key takeaways
- China’s new submission to the UN also confirmed its goal to achieve carbon neutrality before 2060 and slash its emissions intensity by more than 65%.
- China is responsible for more than a quarter of all man-made emissions. It had previously promised, under a process set in motion by the 2015 Paris climate deal, to reach net-zero by 2060.
- Under the Paris climate deal, nations are required to submit renewed emissions-cutting pledges — known as Nationally Determined Contributions, or NDCs — every five years.
- China had been reluctant in renewing its plans to curb emissions, and it was hoped its new submission could build momentum ahead of the delayed COP26 summit in Glasgow, which begins on Sunday.
China’s renewed Nationally Determined Contributions (NDCs)
- According to its renewed NDC, it will increase its share of non-fossil fuels in primary energy consumption to 25%, up from the 20% previously pledged.
- It also plans to increase its forest stock by six billion cubic metres compared with 2005 levels.
- Bring its total installed capacity of wind and solar power to over 1.2 billion kilowatts by 2030.
Amendments to the Registration of Births and Deaths Act, 1969
Part of: Prelims and GS II – Government policies and related issues
Context The Centre has proposed amendments to the Registration of Births and Deaths Act, 1969 that will enable it to “maintain the database of registered birth and deaths at the national level”.
- As of now, the registration of births and deaths is done by the local registrar appointed by States.
Key takeaways
- The database may be used to update the Population Register and the electoral register, and Aadhaar, ration card, passport and driving licence databases.
Proposed amendments by the Centre
- It is proposed that the Chief Registrar (appointed by the States) would maintain a unified database at the State level and integrate it with the data at the “national level,” maintained by the Registrar General of India (RGI). The amendments will imply that the Centre will be a parallel repository of data.
- “Special Sub-Registrars” shall be appointed, in the event of disaster, with any or all of his powers and duties for on the spot registration of deaths and issuance of extract thereof, as may be prescribed.”
Converting CO2 to Methane
Part of: Prelims and GS III – Environment
Context Recently, Indian Scientists have designed a photochemical method (Photocatalyst) to convert Carbon Dioxide (CO2) to Methane (CH4).
- A photochemical method is a chemical reaction initiated by the absorption of energy in the form of light.
Key Points
- A polymer has been designed to absorb visible light and catalyse the reaction which reduces CO2.
- Most catalysts contain toxic and expensive metal counterparts. Therefore, scientists designed a metal-free porous organic polymer to overcome this drawback.
- The method uses solar light as a renewable source of energy.
- Significance:
- Methane can be one of the value-added products with significant uses as the cleanest burning fossil fuel and can directly be used in fuel cells as a hydrogen carrier.
- It is also the main component of natural gas and has the potential to replace coal for electricity generation and furnishing flexible supply to reinforce intermittent renewable generators.
What is Methane?
- Methane is gas that is found in small quantities in Earth’s atmosphere.
- It is the simplest hydrocarbon, consisting of one carbon atom and four hydrogen atoms (CH4).
- Methane is a powerful greenhouse gas. It is flammable, and is used as a fuel worldwide.
- Methane is produced by the breakdown or decay of organic material and can be introduced into the atmosphere by either natural processes (decay of plant material in wetlands, the seepage of gas from underground deposits or the digestion of food by cattle) or human activities (oil and gas production, rice farming or waste management).
- Methane is called marsh gas because it is found at the surface of marshy places
(News from PIB)
18th India-ASEAN Summit
Part of: Prelims and Mains GS-II: Important International institutions, agencies and fora- their structure, mandate.
Context: Prime Minister Shri Narendra Modi participated in the 18th India-ASEAN Summit at the invitation of His Majesty Sultan Haji Hassanal Bolkiah of Brunei, the current Chair of ASEAN.
India –
- Underlined the centrality of ASEAN in India’s Act East Policy and in India’s Vision for the wider Indo-Pacific Vision.
- On COVID-19, highlighted India’s efforts in the fight against the pandemic in the region and also reiterated support for ASEAN’s initiatives in this regard. India has contributed medical supplies worth USD 200,000 to ASEAN’s humanitarian initiative for Myanmar and USD 1 million for ASEAN’s Covid-19 Response Fund.
- To further strengthen India-ASEAN cultural connectivity: India will support establishing the ASEAN Cultural Heritage List.
- On trade and investment, underlined the importance of diversification and resilience of supply chains for post-COVID economic recovery and in this regard, the need to revamp the India-ASEAN FTA.
India and ASEAN
- Highlighting the milestone of 30th anniversary of India-ASEAN Partnership, the leaders announced the Year 2022 as India-ASEAN Friendship Year.
- Building upon the synergies between the ASEAN Outlook for the Indo-Pacific (AOIP) and India’s Indo-Pacific Oceans Initiative (IPOI), PM and ASEAN leaders welcomed the adoption of the India-ASEAN Joint Statement on cooperation for peace, stability and prosperity in the region.
- Exchanged views on enhancing India-ASEAN connectivity in broadest terms including physical, digital and people to people.
- Appreciated India’s role as a trusted partner in the region especially during the current Covid-19 Pandemic with its supply of vaccine.
- Welcomed India’s support to ASEAN centrality in the Indo-Pacific and looked forward to greater India-ASEAN cooperation in the region through the Joint Statement.
Other discussion points
- Covered regional and international issues of common interest and concern, including South China Sea and terrorism.
- Noted the importance of promoting a rules-based order in the region including through upholding adherence to international law, especially the UNCLOS.
- Affirmed the importance of maintaining and promoting peace, stability, safety and security in the South China Sea, and ensuring freedom of navigation and overflight.
News Source: PIB
India, ADB sign $251 million loan
Part of: Prelims and Mains GS-I: Urbanisation
In News: The Government of India and the Asian Development Bank (ADB) have signed a $251 million loan for climate-resilient, integrated urban flood protection and management in the Chennai-Kosasthalaiyar basin to strengthen resilience of Chennai city to floods.
- Will help reduce the vulnerability of Chennai–Kosasthalaiyar basin residents to frequent floods, which have in recent years destroyed property and livelihoods
- Building disaster-resilient infrastructure would help communities cope with intensifying rainfall, a higher sea level rise, and a storm surge caused by cyclones and protect lives, economy and the environment.
- The innovative designs and interventions for climate-resilient flood management promoted by the project along with integrated urban planning and enhanced municipal resource mobilization can be widely replicated for other Indian cities that are vulnerable to climate and disaster risks.
- Aims to enhance stakeholders’ involvement, including proactive participation of women, in flood preparedness by raising community knowledge and awareness of flood risks and impacts and its relationship with solid waste management, sewerage, and protection of water bodies.
News Source: PIB
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