SPREADING AWARENESS ABOUT INDIAN CULTURE AND HERITAGE AMONG YOUTHS
GS- PAPER- 1 Initiative taken by Indian Govt. to preserve our culture and heritage:- Note– Also to spread awareness about our culture and heritage among youth of the country, Ministry of Culture organizes Rashtriya Sanskriti Mahotsavs (RSMs) through these ZCCs where a large number of artists from all over India are engaged to showcase their talents during these Mahotsavs. The Ministry administers schemes for the youth viz. Scholarships to Young Artistes in Different Cultural Fields and Award of Fellowship to Outstanding Persons in the field of Culture, the details of which are as under: 1.Scheme for Scholarships to Young Artistes in Different Cultural Fields: Under this scheme, Financial assistance is given to young artistes in the age group of 18-25 years for advanced training within India in the field of Indian Classical Music, Indian Classical Dance, Theatre, Mime, Visual Art, Folk, Traditional and Indigenous Arts and Light Classical Music etc. @ Rs. 5,000/- p.m. for 2 years. The Scholarship is released in four equal six monthly instalments. 2. Scheme forward of Fellowship to Outstanding Persons in the field of Culture: Up to 400 fellowships (200 Junior and 200 Senior) are awarded in a batch year to outstanding persons in the age group of 25 to 40 years (Jr.) Indian Culture and Heritage: – Constitutional and Legislative Provisions Related to Indian Heritage- The following divisions of authority over monuments, pieces of cultural heritage, and archaeological sites are set down in the Indian Constitution: Significance of Preserving Cultural Heritage Gaps in Cultural Heritage Structures in India:- What More Can be Done to Preserve India’s Cultural Heritage? Conclusion–
UNESCO adds Saint Hilarion Monastery to the list of World Heritage in Danger
GS- Paper- 1 Art& Culture Context- About Saint Hilarion Monastery Gaza’s “Tell Umm Amer” as a World Heritage site is significant for several reasons: The List of World Heritage in Danger Criteria for Listing– Entries on the list include World Heritage Sites facing either confirmed imminent threats or potential risks that could negatively impact their preservation, here is some criteria for listing:- The World Heritage Committee used the emergency inscription procedure provided for in the World Heritage Convention. Benefits of Inscription Impact and Criticism Conclusion:- Overall, this development is newsworthy because it underscores the importance of preserving global heritage amidst on-going conflicts and provides a platform for highlighting the cultural and historical significance of the region. Source- Indian Express, The Hindu, UNESCO Heritage Site
Right to be forgotten
GS- PAPER- II/ Governance Context- What is the right to be forgotten? How is the ‘Right to be Forgotten’ Interpreted in India? Position in India The Personal Data Protected Bill (PDP, 2019) The Court things- In the Centric 2017 KS Puttaswamy case vs. union of India, the Supreme Court acknowledged that the right to privacy includes an individual’s control over their online presence. What are judicial precedents in India? R.Rajagopal vs. State ruled on the issue, 1994 – Dharamraj Bhanushankar Dave vs. State of Gujarat (2017) – The Gujarat High Court refused to remove the details of an acquittal from public records. {Name Redacted} vs. The Registrar General, the Karnataka HC 2017– The Karnataka High Court protected the petitioner’s identity in a sensitive annulment case. In 2021, the Delhi High Court permitted the removal of search results related to Jorawar Singh Mundy, an American law student who was acquitted in a drug case. This decision was made to safeguard Mundy’s social life and career. In 2020, the Orissa High Court called for a broader discussion on the right to be forgotten, emphasizing the practical and technological difficulties involved. Significance: – The right to be forgotten holds significant importance for several reasons: Challenges – The right to be forgotten faces several challenges, including: Conclusion- Overall, the right to be forgotten is still in the process of development in India, and there is no specific case that has been solely responsible for its development. Moreover, with the recognition of the right to privacy as a fundamental right and the introduction of the Personal Data Protection Bill, the right to be forgotten is gaining increasing attention from both the courts and the legislature in India. This is also a very important Right in present modern era. Everyone has not good time always sometimes some mistakes happen, and a stain emerged on their character however after sometime when the accused acquitted then no one accept him as earlier. So, there should be ‘Right to be forgotten’ so that in future no one could question upon his dignity. Source- Indian Express
Union Budget 2024-25: India’s Next Generation Reforms and Strategic Policies
Context– The Union Budget 2024-25, presented by Union Finance Minister, sets a visionary path for India’s economic development. The budget focuses on the theme of “Next Generation Reforms,” aiming to boost economic growth, improve productivity, and enhance the efficiency of markets and sectors. Economic Policy Framework and Key Reforms Implementing Next Generation Rural Land Related Actions: These actions will facilitate credit flow and other agricultural service. It will include: Urban Land Related Actions: Land records in urban areas will be digitized with GIS mapping. Taxonomy for Climate Finance: Foreign Direct Investment and Overseas Investment : NPS Vatsalya: It is plan for contribution by parents and guardians for minors. National Pension Scheme (NPS): A solution will be evolved which addresses the relevant issues while maintaining fiscal prudence to protect the common citizens. Financial Sector Vision and Strategy: The government plans to release a strategy document outlining the future vision for the financial sector, addressing its size, capacity, and skills. Use of Technology: The Union Government will step up adoption of technology towards digitalization of the economy. Ease of Doing Business: Data and Statistics: Variable Capital Company Structure: Budget Estimates 2024- 25 1.Total Receipts: ₹32.07 lakh crore (excluding borrowings) 2. Total Expenditure: ₹48.21 lakh crore 3. Net Tax Receipt: ₹25.83 lakh crore 4. Fiscal Deficit: 4.9% of GDP Conclusion: The Union Budget 2024-25 outlines a comprehensive plan for economic growth and development, emphasizing next-generation reforms. By focusing on improving productivity, enhancing market efficiency, and leveraging technology, the government aims to create a robust and inclusive economic framework. The proposed reforms across land, labour, finance, and technology sectors are designed to foster sustainable growth and ensure a prosperous future for all citizens.
India, US signed Cultural Property pact on return of smuggled Antiquities
GS- Paper-1/ Art & Culture Context- It’s great to hear about the new ‘Cultural Property Agreement’ between India and the USA. This agreement represents a significant step towards protecting and preserving India’s rich cultural heritage by combating the illicit trafficking of antiquities. Purpose of the Agreement- About the Cultural Property Agreement- Significance- G20 Presidency- under India’s G20 Presidency, the ‘Protection and Promotion of Cultural Property’ emerged as the main topical priorities reflecting the core concerns of the Culture Sector globally. About Antiquity and its Provenance – The Antiquities and Art Treasures Act of 1972 defines an “antiquity” as: Conclusion- Sources: – Indian Express, PIB, The Bureaucrats, U.S Embassy & Consulates in India.
Ending “Angel Tax” will boost Start-ups and the Start-up ecosystem ,Budget 2024–25.
Why in news? – Finance Minister proposed to abolish the angel tax for all investor classes while presenting the Union Budget 2024-25. The Origin of Angel Tax: – The idea of angel tax was first introduced in the 2012, Union Budget by then Finance Minister Pranab Mukherjee. What is Angel Tax? – Initially every new stablished company needs funds to perform its activity and seeks investment but having no tangible asset as collateral but equity, at this phase an angel investor can invest money in it. Investment greater than FMV (Fair Market Value) is categorised as “income from other sources”, and the tax imposed on it is called angel tax. Angel tax, formally as section 56(2) (vii b) of the income tax Act, is the tax imposed on funds raised by start-ups from angel investors. However, this implies only to fund that exceed the fair market value of the company. The Fair Market Value of a private company’s stock is the predicted value of one share of your company if your stock was available on the open market Why was angel tax introduced? – Angel Tax Exemption Startups made numerous pleas for this tax exemption, Government provide some relaxations in the 2019 Union budget, and stated that if the startup is registered under the DPIIT or Department for Promotion of Industry and Internal Trade, it would not be subject to such tax. There are some other criteria that your startup needs to fulfil to file angel tax exemption. Note- The Angel tax is being levied on startups at 30.9% on net investments in excess of the startup company’ Fair Market Value. Key issues with Angel Tax:- How does Angel Tax affect startup? – New major Government’s Initiatives Related to Start-up- Conclusion- The removal of the Angel Tax for Investors is a significant step that will strengthen the start-up ecosystem, encouraging more investment and fostering innovation. This change will significantly improve start-up funding sentiment while boosting the morale of deep tech and AI start-ups to take bigger bets. By focusing on skilling and employment the budget creates a favourable environment for tech companies to thrive.
Indian Prime Minister met Nobel Laureate, shared his thoughts on future possibilities of Quantum technologies
11 July 2024 The Indian Prime Minister met Nobel Laureate for Physics in 2022, Shri Anton Zeilinger, a renowned Austrian physicist is known for his work on quantum mechanics. He received the Nobel Prize 2022 in Physics, jointly with Alain Aspect and John Clauser for their work involving experiments with entangled photons, establishing the violation of Bell inequalities, and pioneering quantum information science. Their work has proved the extremely strange quantum nature of reality. Their experiments have collectively established the existence quantum entanglement, also known as bizarre quantum phenomenon. What is quantum entanglement? Two widely separated particles appear to share information despite having no conceivable way of communicating called entanglement (several particles behave like a single unit even when they are separated). Zeilinger’s work involved entangled light particles, known as photons. Entanglement is a unique property of quantum mechanics that allows two or more particles to exist in a connected state, where the behaviour of one particle directly influences the other, regardless of the distance between them. These experiments, along with others, have confirmed the accuracy of quantum mechanics and have laid the foundation for the development of quantum computers, quantum networks, and quantum encrypted communication. During his visit to Australia Prime Minister meet and shared his thoughts on India’s National Quantum Mission with the physicist. He and Mr. Zeilinger exchanged views on the role of Quantum Computing and Quantum Tech on contemporary society and the promise it holds for the future possibilities of Quantum Information and Quantum technologies. National Quantum Mission (NQM) The National Quantum Mission (NQM), conceptualized by the Prime Minister Science Technology Advisory Council (PM-STIAC) received Cabinet approval on April 19, 2023 with a total outlay of Rs 6003.65 Crore for a period of eight years (2023-24 to 2030-31), aiming to seed, nurture and scale up scientific and industrial R&D and create a vibrant & innovative ecosystem in Quantum Technology (QT). This will accelerate QT led economic growth, nurture the ecosystem in the country and make India one of the leading nations in the development of Quantum Technologies & Applications (QTA). The Mission objectives include developing intermediate-scale quantum computers with 50-1000 physical qubits in 8 years in various platforms like superconducting and photonic technology. Satellite-based secure quantum communications between ground stations over a range of 2000 km within India, long-distance secure quantum communications with other countries, inter-city quantum key distribution over 2000 km as well as multi-node Quantum networks with quantum memories are also some of the deliverables of the Mission. The National Quantum Mission will focus on developing magnetometers with high sensitivity in atomic systems and Atomic Clocks for precision timing, communications, and navigation. It will also support the design and synthesis of quantum materials such as superconductors, novel semiconductor structures, and topological materials for the fabrication of quantum devices. Single photon sources/detectors, and entangled photon sources will also be developed for quantum communications, sensing, and metrological applications. Mission Implementation includes setting up of four Thematic Hubs (T-Hubs) in top academic and National R&D institutes in the domains. The hubs which will focus on generation of new knowledge through basic and applied research as well as promote R&D in areas that are mandated to them. NQM has the potential to elevate the country’s Technology Development ecosystem to a level of global competitiveness. The Mission would greatly benefit various sectors including communication, health, financial, energy with applications in drug design, space, banking, security etc. The Mission will also provide a huge boost to National priorities like Digital India, Make in India, Skill India and Stand-up India, Start-up India, Self-reliant India and Sustainable Development Goals (SDG).
प्रोजेक्ट नेक्सस (RBI)
प्रोजेक्ट नेक्सस प्रोजेक्ट नेक्सस बैंक फॉर इंटरनेशनल सेटलमेंट्स (BIS) के इनोवेशन हब द्वारा परिकल्पित एक पहल है। इसका उद्देश्य तेज़ और अधिक किफायती क्रॉस-बॉर्डर इंस्टेंट पेमेंट सिस्टम (IPS) के लिए एक वैश्विक नेटवर्क बनाना है। यह भुगतान क्षेत्र में लाइव कार्यान्वयन की ओर बढ़ने वाली पहली BIS इनोवेशन हब परियोजना है। नेक्सस खुदरा क्रॉस-बॉर्डर भुगतान को कुशल, तेज़ और अधिक लागत प्रभावी बनाने में महत्वपूर्ण भूमिका निभाएगा। BIS और संस्थापक देशों के केंद्रीय बैंक- बैंक नेगरा मलेशिया (BNM), बैंक ऑफ़ थाईलैंड (BOT), बैंगको सेंट्रल एनजी फिलीपींस (BSP), मॉनेट्री अथॉरिटी ऑफ़ सिंगापुर (MAS) – और RBI ने बेसल स्विट्जरलैंड में एक समझौते पर हस्ताक्षर किए। इस परियोजना में क्रॉस-बॉर्डर लेनदेन में शामिल प्रक्रियाओं को सुव्यवस्थित और मानकीकृत करने के लिए विभिन्न केंद्रीय बैंकों और वित्तीय संस्थानों के साथ सहयोग शामिल है, जिसका उद्देश्य तेज़ भुगतान प्रणालियों (FPS) को जोड़ना है। संस्थापक सदस्य देश- चार आसियान देश (मलेशिया, फिलीपींस, सिंगापुर और थाईलैंड); और भारत। इंडोनेशिया विशेष पर्यवेक्षक के रूप में है। नेक्सस प्लेटफॉर्म का विस्तार और अधिक देशों में हो रहा है, जिसके 2026 में लाइव होने की उम्मीद है। प्लेटफॉर्म के लाभ- प्रोजेक्ट नेक्सस को तत्काल भुगतान प्रणाली (IPS) के एक-दूसरे से जुड़ने के तरीके को मानकीकृत करने के लिए डिज़ाइन किया गया है। भुगतान प्रणाली ऑपरेटर द्वारा प्रत्येक नए देश के लिए कस्टम कनेक्शन बनाने के बजाय, ऑपरेटर नेक्सस प्लेटफ़ॉर्म पर एक एकल कनेक्शन बना सकता है। यह एकल कनेक्शन एक तेज़ भुगतान प्रणाली को नेटवर्क पर अन्य सभी देशों तक पहुँचने की अनुमति देता है। नेक्सस तत्काल सीमा पार भुगतान के विकास में महत्वपूर्ण रूप से तेज़ी ला सकता है। BIS के अनुसार, IPS को जोड़ने से 60 सेकंड के भीतर (अधिकांश मामलों में) प्रेषक से प्राप्तकर्ता तक सीमा पार भुगतान सक्षम हो सकता है। वर्तमान में भारतीय रिज़र्व बैंक अपने विभिन्न साझेदार देशों के साथ द्विपक्षीय रूप से सहयोग कर रहा है ताकि भारत के FPS – यूनिफाइड पेमेंट्स इंटरफ़ेस (UPI) को सीमा पार व्यक्ति-से-व्यक्ति (P2P) और व्यक्ति-से-व्यापारी (P2M) भुगतानों के लिए उनके संबंधित FPS से जोड़ा जा सके। उदाहरण के लिए, भूटान, UAE, फ्रांस, श्रीलंका, मॉरीशस। बहुपक्षीय दृष्टिकोण भारतीय भुगतान प्रणालियों की अंतर्राष्ट्रीय पहुंच का विस्तार करने में RBI के प्रयासों को और गति प्रदान करेगा। बैंक फॉर इंटरनेशनल सेटलमेंट्स (BIS) 1930 में स्थापित, BIS का स्वामित्व 63 केंद्रीय बैंकों के पास है, जो दुनिया भर के देशों का प्रतिनिधित्व करते हैं, जो कुल मिलाकर विश्व GDP का लगभग 95% हिस्सा हैं। BIS का उद्देश्य अंतर्राष्ट्रीय सहयोग के माध्यम से केंद्रीय बैंकों की मौद्रिक और वित्तीय स्थिरता की खोज का समर्थन करना और केंद्रीय बैंकों के लिए एक बैंक के रूप में कार्य करना है। इसका मुख्यालय बेसल, स्विटज़रलैंड में है और इसके दो प्रतिनिधि कार्यालय (हांगकांग SAR और मेक्सिको सिटी) हैं, साथ ही दुनिया भर में इनोवेशन हब सेंटर भी हैं। इनोवेशन BIS 2025, इसकी मध्यम अवधि की रणनीति है जो तेजी से बदलती दुनिया में केंद्रीय बैंकिंग समुदाय की सेवा के लिए प्रौद्योगिकी और नए सहयोग चैनलों का लाभ उठाती है। बेसल बैंकिंग समझौते, बैंकिंग पर्यवेक्षण पर आधारित बेसल समिति (BCBS) द्वारा निर्धारित वैश्विक नियम हैं, जो बेसल, स्विटज़रलैंड में बैंक फॉर इंटरनेशनल सेटलमेंट्स (BIS) के तहत काम करते हैं, जो बैंकिंग में सर्वोत्तम अभ्यास के लिए दिशानिर्देश प्रदान करते हैं। यह केंद्रीय बैंकों को निम्नलिखित सुविधाएँ प्रदान करता है:
Project Nexus
Project Nexus Project Nexus is an initiative conceptualized by the Innovation Hub of the Bank for International Settlements (BIS). It aims to create a global network for faster and more affordable cross-border instant payment systems (IPS). It is the first BIS Innovation Hub project in the payments area to move towards live implementation. Nexus will play a key role in making retail cross-border payments efficient, faster and more cost-effective. BIS and central banks of founding countries- Bank Negara Malaysia (BNM), Bank of Thailand (BOT), Bangko Sentral ng Philippines (BSP), Monetary Authority of Singapore (MAS) – and the RBI signed an agreement in Basel Switzerland. The project involves collaboration with various central banks and financial institutions to streamline and standardize the processes involved in cross-border transactions, the aim of connecting fast payment systems (FPS). Founding member Countries– four ASEAN countries (Malaysia, Philippines, Singapore and Thailand); and India. Indonesia continues as special observer. Nexus platform expanding to more countries, expected to go live in 2026. Benefits of the platform- Project Nexus is designed to standardize the way instant payment systems (IPS) connect to each other. Instead of a payment system operator creating a custom connection for each new country it connects to, the operator can create a single connection to the Nexus platform. This single connection allows a fast payment system to reach all other countries on the network. Nexus could significantly accelerate the development of instant cross-border payments. According to BIS, connecting IPS can enable cross-border payments from sender to recipient within 60 seconds (in most cases). Presently The Reserve Bank of India has been collaborating bilaterally with its various partner countries to link India’s FPS – Unified Payments Interface (UPI) with their respective FPSs for cross-border person-to-person (P2P) and person-to-merchant (P2M) payments. For example, Bhutan , UAE, France, Sri Lanka, Mauritius. A multilateral approach will provide further impetus to the RBI’s efforts in expanding the international reach of Indian payment systems. Bank for International Settlements (BIS) Established in 1930, the BIS is owned by 63 central banks, representing countries from around the world that together account for about 95% of world GDP. BIS is to support central banks’ pursuit of monetary and financial stability through international[RV1] cooperation, and to act as a bank for central banks. Its head office is in Basel, Switzerland and it has two representative offices (Hong Kong SAR and Mexico City), as well as Innovation Hub Centres around the world. Innovation BIS 2025, is its medium-term strategy that leverages technology and new collaboration channels to serve the central banking community in the fast-changing world. The Basel Banking Accords are global rules set by the Basel Committee on Banking Supervision (BCBS), operating under the Bank for International Settlements (BIS) in Basel, Switzerland, providing guidelines for best practices in banking. It facilitates central banks with: A forum for dialogue and broad international cooperation A platform for responsible innovation and knowledge-sharing In-depth analysis and insights on core policy issues Sound and competitive financial services [RV1]
Hool Diwas – A Reminiscence of the Santhal Rebellion against the British
Hool Diwas is celebrated June 30 every year in India that commemorates the Santhal Hool (rebellion) of 1855. The rebellion was a significant uprising by the Santhal community against British colonial rule and exploitative practices. Hool Diwas is celebrated to honour the bravery and sacrifice of the Santhal people and to remember their struggle for justice and freedom. It has particularly significance in the states of Jharkhand, Bihar, West Bengal and Odisha, where the Santhal community is concentrated. Celebrations usually include cultural programmes, speeches and events highlighting the history and heritage of the Santhal Hool. The Santhal Hool was led by four brothers – Sidhu, Kanhu, Chand and Bhairav – who organized thousands of Santhals to revolt against oppressive British policies and practices, including unfair taxation and exploitation by moneylenders and landlords.June 30 2024 on “Hool Diwas” The Prime Minister paid tribute to tribal heroes. Background of Santhal Rebellion: – The predominantly agrarian Santhal community suffered severe exploitation under the British colonial system. The introduction of the Permanent Settlement Act in 1793, which aimed to streamline revenue collection, led to the rise of the zamindari system. Under this system, zamindars (landlords) collected taxes from farmers and remitted them to British authorities. The Santhals suffered heavy taxation, usury, and exploitation by zamindars and traders. The rebellion is an important chapter in the broader history of India’s struggle against colonialism. It underlines the role of indigenous communities in resisting exploitation and asserting their rights long before mainstream nationalist movements gained momentum. The Santhal Rebellion left a legacy. It highlighted the injustices faced by indigenous communities under colonial rule and inspired subsequent movements for tribal rights and autonomy. The courage and resilience of Santhal leaders, especially Sidhu and Kanhu Murmu, is commemorated every year on Hool Diwas, especially in the states of Jharkhand, Bihar, West Bengal, and Odisha. The Santhal Rebellion of 1855 is evidence of the enduring spirit of resistance among India’s tribal communities. It serves as a reminder of the struggles faced by indigenous people and their contribution to the broader fight for justice and freedom in India. The legacy of the Santhal Hool inspires efforts to address issues of exploitation and marginalisation faced by tribal communities even today.
