Prelims Pointers for 25-March-2025

by Vajiram & Ravi

25-03-2025

06:05 AM

Finance Bill Blog Image

Finance Bill Latest News

Finance Bill Debate in Lok Sabha

About the Finance Bill

  • The Finance Bill is a crucial part of the Union Budget and is introduced every year to:
    • Implement the government’s fiscal proposals.
    • Authorise taxation, expenditure, and revenue adjustments for the upcoming financial year.
  • Article 110(a) of the Constitution mandates that the Finance Bill be presented with the Budget.
  • Accompanied by a Memorandum explaining tax provisions.

Types of Financial Bills

Type

Features

Financial Bill (I) -

Article 117(1)

- Contains provisions similar to a Money Bill, but includes other legislative provisions.
- Can only originate in the Lok Sabha on the President’s recommendation.
- Follows the same procedure as an Ordinary Bill in all respects except introduction.

Financial Bill (II) -

Article 117(3)

- Does not contain Money Bill provisions but affects Consolidated Fund of India expenditure

- Can be introduced in either House of Parliament but requires the President's recommendation.

What is a Money Bill?

  • Definition (Article 110): A Bill is a Money Bill if it contains provisions related to:
    • Taxation.
    • Borrowing of money by the government.
    • Expenditure from or receipt to the Consolidated Fund of India.
  • The Speaker of Lok Sabha certifies whether a Bill is a Money Bill.
  • Rajya Sabha cannot amend or reject a Money Bill, only give recommendations, which Lok Sabha may ignore.

Differences Between Money Bill & Finance Bill

Feature

Money Bill

Finance Bill

Definition

Only contains provisions related to taxation, borrowing, and expenditure.

Includes taxation and other financial matters.

Introduction

Only in the Lok Sabha, with the President's recommendation.

Finance Bill (I): Only in Lok Sabha.
Finance Bill (II): Either House.

Rajya Sabha Role

Can only make recommendations, which Lok Sabha may reject.

Can suggest amendments and reject the Bill.

Joint Sitting

Not allowed.

Allowed if there is a deadlock.

Finance Bill FAQs

Q1. What is the Finance Bill?

Ans. The Finance Bill is a crucial piece of legislation introduced in Parliament every year along with the Union Budget. It includes provisions related to taxation, government expenditure, and financial regulations.

Q2. Can the Rajya Sabha reject the Finance Bill?

Ans. No, if the Finance Bill is a Money Bill, Rajya Sabha cannot reject or amend it. It can only recommend changes, which Lok Sabha may accept or reject. However, if it is a Finance Bill Category II, Rajya Sabha has more power.

Q3. What is the constitutional provision for the Finance Bill?

Ans. The Finance Bill is governed by Article 110 (for Money Bills) and Article 117 (for other Finance Bills) of the Indian Constitution.

Q4. What is the significance of the Finance Bill?

Ans. It determines the tax structure, government spending, and economic policies for the financial year. It plays a key role in economic governance and fiscal policy implementation.

Source: TH


Financial Action Task Force (FATF) Blog Image

Financial Action Task Force Latest News

India will host the FATF Private Sector Collaborative Forum 2025 in Mumbai, addressing global priorities such as payment transparency, financial inclusion, and digital financial system transformation.

About Financial Action Task Force

  • FATF is an intergovernmental policy-making and standard-setting body dedicated to combating money laundering and terrorist financing.
  • Objective: To establish international standards and to develop and promote policies, both at national and international levels, to combat money laundering and the financing of terrorism.
  • FATF develops and promotes policies across various countries and jurisdictions.
  • Origin:
    • It was established in 1989 during the G7 Summit in Paris in response to a growing concern about money laundering.
    • In 2001, its mandate expanded to include terrorism financing.
  • Headquarters: Paris, France.
  • Members:
    • To become a member, a country must be considered strategically important (large population, large GDP, developed banking and insurance sector, etc.), must adhere to globally accepted financial standards, and be a participant in other important international organizations.
    • FATF members include 39 countries, including the United States, India, China, Saudi Arabia, Britain, Germany, France, and the EU as such.
    • In addition, more than 180 countries worldwide are affiliated with the FATF through a network of FATF-style regional bodies (FSRBs).
    • India became a member of FATF in 2010. India is also a member of two FATF Style Regional Bodies (FSRBs)-Asia Pacific Group (APG) and Eurasian Group of Combating Money Laundering and Financing of Terrorism (EAG).
  • The FATF researches how money is laundered and terrorism is funded, promotes global standards to mitigate the risks, and assesses whether countries are taking effective action.
  • FATF regularly publishes reports that raise awareness about the latest money laundering, terrorist financing, and proliferation financing techniques so that countries and the private sector can take the necessary steps to mitigate these risks.
  • The FATF Recommendations are recognised as the global anti-money laundering (AML) and counter-terrorist financing (CFT) standard.
  • Once a member, a country or organization must endorse and support the most recent FATF recommendations ,commit to being evaluated by (and evaluating) other members.
  • The FATF holds countries to account that do not comply with the FATF Standards.
  • If a country repeatedly fails to implement FATF Standards, then it can be named a Jurisdiction under Increased Monitoring or a High-Risk Jurisdiction. These are often externally referred to as “the grey and black lists”.
  • What are FATF 'grey list' and 'blacklist'?
    • Black List: Countries known as Non-Cooperative Countries or Territories (NCCTs) are put on the blacklist. These countries support terror funding and money laundering activities. The FATF revises the blacklist regularly, adding or deleting entries.
    • Grey List: Countries that are considered a safe haven for supporting terror funding and money laundering are put on the FATF grey list. This inclusion serves as a warning to the country that it may enter the blacklist.
  • Three countries-North Korea, Iran, and Myanmar, are currently on FATF’s blacklist.
  • Consequences of being on the FATF blacklist:
    • No financial aid is given to them by the International Monetary Fund (IMF), the World Bank, the Asian Development Bank (ADB), and the European Union (EU).
    • They also face a number of international economic and financial restrictions and sanctions.

Financial Action Task Force FAQs

Q1. How many member countries are in FATF?

Ans. FATF members include 39 countries, including the United States, India, China, Saudi Arabia, Britain, Germany, France, and the EU as such.

Q2. Where is the headquarters of the Financial Action Task Force (FATF)?

Ans. Paris, France

Q3. What is the primary objective of the Financial Action Task Force (FATF)?

Ans. To combat money laundering and terrorist financing.

Source:  ET


Hakki Pikki Tribe Blog Image

Hakki Pikki Tribe Latest News

Twenty-two members of the Hakkipikki tribal community from Channagiri taluk in Davangere, Karnataka, have been penalized and instructed to exit Gabon following recent policy changes implemented by the African nation's government.

About Hakki Pikki Tribe

  • Hakki Pikkis (Hakki in Kannada means ‘bird’ and Pikki means ‘catchers’) are a semi-nomadic tribe, traditionally of bird catchers and hunters.
  • Hakki-Pikki’ is one of the major tribal communities in Karnataka. 
  • They also reside in the Western and Southern states of India, mostly near forest areas.
  • According to the 2011 census, the Hakki Pikki population in Karnataka is 11,892, and they live majorly in Davangere, Mysuru, Kolar, Hassan, and Shivmogga districts.
  • They are recognized as a Scheduled Tribe in India.

Hakki Pikki Tribe Language

  • Their mother tongue was designated as 'Vaagri' by scholars.
  • UNESCO has listed 'Vaagri' as one of the endangered languages.
  • Many also speak Kannada, Telugu, Tamil, and Hindi.

Hakki Pikki Tribe Occupation

  • After the implementation of stricter wildlife laws, the tribe changed its occupation from hunting to selling spices, flowers, Ayurveda formulations, and herbal oils.
  • They began doing odd jobs like working in fields and sharpening knives and sickles by riding around towns.
  • They are renowned for their indigenous medicines. The community resided in the dense jungles for a long time and created its own plant- and herb-based medicine systems.
  • They now travel globally to sell these products,especially in the African continent, where there is a demand for cheaper alternatives to Western medicine.

Hakki Pikki Tribe Rituals and Customs

  • The tribe follows Hindu traditions and celebrates Hindu festivals.
  • They follow a clan-based social structure and practice endogamy within their clan.
  • The tribe prefers cross-cousin marriages.
  • The society is matriarchal, where the groom gives dowry to the bride’s family.
  • The eldest son in a family is not supposed to cut his hair so that he can be identified easily.

Hakki Pikki Tribe FAQs

Q1. In which state is Hakki Pikki tribe found?

Ans. The Hakki Pikki tribe is primarily found in the state of Karnataka.

Q2. What language do the Hakki Pikki speak?

Ans. The Hakki Pikki tribe speaks a unique language called Vaagri. 

Q3. What does the name ‘Hakki Pikki’ mean in Kannada?

Ans. Bird Catchers

Source: HT


IOS SAGAR

25-03-2025

06:30 AM

timer
1 min read
IOS SAGAR Blog Image

IOS SAGAR Latest News

India’s Maiden India-Africa Naval Exercise: Indian Ocean Ship (IOS) Sagar & AIKEYME

What is IOS Sagar?

  • Indian Ocean Ship (IOS) Sagar is a maritime security cooperation initiative in the Southwest Indian Ocean Region (IOR).
  • Duration: April 5 to May 8, 2025.
  • Vessel: INS Sunayna, an offshore patrol vessel.
  • Participants: India + 9 African nations: Comoros, Kenya, Madagascar, Maldives, Mauritius, Mozambique, Seychelles, Sri Lanka, and South Africa.
  • Activities:
    • Port calls at Dar-es-Salaam (Tanzania), Nacala (Mozambique), Port Louis (Mauritius), Port Victoria (Seychelles), and Male (Maldives).
    • Joint surveillance of Exclusive Economic Zones (EEZs) of Tanzania, Mozambique, Mauritius, and Seychelles.
    • Training for African personnel at Indian naval institutions in Kochi, covering naval operations, watchkeeping, and security drills.

What is AIKEYME?

  • AIKEYME stands for ‘Africa-India Key Maritime Engagement’, meaning ‘Unity’ in Sanskrit.
  • Co-hosts: Indian Navy & Tanzania People's Defence Force (TPDF).
  • Location: Dar-es-Salaam, Tanzania.
  • Participants: India + 10 African nations – Comoros, Djibouti, Eritrea, Kenya, Madagascar, Mauritius, Mozambique, Seychelles, South Africa, and Tanzania.
  • Duration: Six days in mid-April 2025.
  • Inauguration: By Defence Minister
  • Training & Operational Phases:
    • Harbour phase: Table-top and command post exercises focusing on piracy and maritime information-sharing.
      • Seamanship training & Visit Board Search and Seizure (VBSS) operations.
    • Sea phase: Search and Rescue (SAR), small arms firing, helicopter operations, and maritime security drills.

What is Security and Growth for All in the Region (SAGAR)?

  • Launched in 2015, SAGAR aims for a free, open, inclusive, peaceful, and prosperous Indo-Pacific.
  • Key components:
    • Countering Chinese Influence: Strengthening ties with IOR nations.
    • Maritime Security: Tackling piracy, terrorism, and illegal activities.
    • Capacity Building: Supporting IOR countries in disaster management and infrastructure development.
    • Economic & Connectivity Projects: Expanding regional trade and investment.
  • MAHASAGAR (Advancement for Security Across the Regions): Announced by the PM in Mauritius, focusing on maritime security and regional cooperation.

Key Indian Initiatives Supporting SAGAR

  • South Asia Satellite (SAS): Enhances communication & disaster response among neighbors.
  • Mission SAGAR: Provided COVID-19 medical assistance to Indian Ocean littoral states.
  • Vaccine Maitri: Supplied COVID-19 vaccines to nations like Bhutan & Maldives.
  • Kaladan Multi-Modal Transit Project: Improves connectivity between India, Myanmar, and Southeast Asia.

IOS SAGAR FAQs

Q1. What is the Indian Ocean Strategy (IOS)?

Ans. The Indian Ocean Strategy (IOS) refers to India's maritime policy focused on securing the Indian Ocean region (IOR), enhancing trade, security, and regional cooperation.

Q2. What does SAGAR stand for in India's maritime policy?

Ans. SAGAR stands for "Security and Growth for All in the Region", a vision introduced by PM Narendra Modi in 2015 to ensure a safe, stable, and prosperous Indian Ocean region.

Q3. How is SAGAR different from the Indo-Pacific Strategy?

Ans. While the Indo-Pacific Strategy focuses on a broader geopolitical region (Pacific & Indian Oceans), SAGAR is specifically centered on India’s role in the Indian Ocean Region (IOR).

Source: TH


DNA Polymorphism Blog Image

DNA Polymorphism Latest News

DNA polymorphisms, through STR analysis and PCR, enable forensic breakthroughs in justice (exonerations, crime-solving) and historical revelations via ancient DNA extraction.

What is DNA?

  • DNA (Deoxyribonucleic Acid) is the genetic material present in almost all cells of the human body (skin, blood, bone, teeth, etc.).
  • Humans have 46 DNA molecules (chromosomes):
    • 23 chromosomes inherited from the father (via sperm).
    • 23 chromosomes inherited from the mother (via the egg).
  • Chromosomes contain genes, which carry instructions for traits like eye color, height, and susceptibility to diseases.

What are DNA Polymorphisms?

  • DNA polymorphisms are variations in DNA sequences among individuals.
  • These genetic differences occur at specific locations in DNA and help differentiate one person from another.
  • DNA polymorphisms allow scientists to determine:
    • Parentage (paternal/maternal lineage).
    • Genetic ancestry.
    • Identity verification through DNA fingerprinting.

What are Short Tandem Repeats (STRs)?

  • STRs are short sequences of DNA bases (A, T, C, G) that repeat multiple times.
  • Ex: A repeated sequence like GATCGATCGATC (on the complementary strand, CTAGCTAGCTAG).
  • Each person has a unique STR pattern, making STRs highly useful for:
    • Forensic investigations.
    • Criminal identification.
    • Parent-child relationship testing.
  • STRs are inherited, so they provide valuable insights into ancestry and genetic inheritance.

How is DNA Copied for Analysis? (PCR Method)

  • Polymerase Chain Reaction (PCR) is a technique used to amplify DNA segments, making millions of copies.
  • Steps of PCR:
    • DNA Extraction: Scientists collect DNA from blood, bones, saliva, or skin cells.
    • Denaturation (95°C): DNA strands are heated to separate them.
    • Annealing (60°C): Short DNA primers bind to target sequences.
    • Extension (72°C): DNA polymerase enzyme adds complementary bases, creating new DNA strands.
    • Cycling Process: The steps are repeated, rapidly increasing the DNA copies.
  • PCR is essential for DNA fingerprinting, criminal investigations, and medical research.

What is a DNA Fingerprint?

  • A DNA fingerprint is a unique genetic profile based on STR variations.
  • It is created using Capillary Electrophoresis:
    • DNA fragments move through a capillary under an electric field.
    • Smaller fragments travel faster, separating different STR patterns.
    • The final DNA profile is unique to each person (except identical twins).
  • Sources of DNA for fingerprinting: Teeth, bones, blood, saliva, sweat, semen, skin cells.

DNA Polymorphism FAQs

Q1. What is DNA polymorphism?

Ans. DNA polymorphism refers to variations in DNA sequences among individuals in a population. These variations are heritable and can be used for genetic studies.

Q2. Why is DNA polymorphism important?

Ans. DNA polymorphism is crucial for genetic diversity, disease studies, forensic investigations, and evolutionary biology. It helps in DNA fingerprinting, ancestry tracking, and understanding hereditary diseases.

Q3. How is DNA polymorphism used in forensic science?

Ans. DNA polymorphism, especially STRs and VNTRs, is used in forensic DNA fingerprinting to identify individuals, solve crimes, and establish paternity.

Q4. What is the role of DNA polymorphism in evolution?

Ans. It provides genetic variation, which is essential for natural selection and adaptation. Mutations leading to polymorphism can influence traits and species survival.

Source: TH


Vikramshila University Blog Image

Vikramshila University Latest News

Vikramshila University Set for Revival in Bihar

Why in the News?

  • After Nalanda University, another ancient centre of learning in Bihar—Vikramshila University—is set for revival.
  • The Archaeological Survey of India (ASI) is currently developing the ancient site to boost tourism.
  • The Bihar government has identified 202.14 acres in Antichak village, Bhagalpur, for establishing a Central University at the historic site.
  • The project was approved by the Centre in 2015 with an initial budget of ₹500 crore, but progress was delayed due to land acquisition issues.

About Vikramshila University

  • Location: Vikramshila University was situated in Bhagalpur, Bihar, along the banks of the river Ganges, making it a prominent historical site in eastern India.
  • Founder: The university was established by King Dharmapala of the Pala Dynasty during the late 8th to early 9th century AD, as a response to the perceived decline in educational standards at Nalanda University.
  • Significance:
    • Vikramshila University emerged as a leading hub for Tantric Buddhism and Vajrayana Buddhism, playing a pivotal role in the spread of these traditions.
    • The university distinguished itself by specializing in tantric and occult studies, setting it apart from Nalanda University, which offered a broader curriculum.
    • During King Dharmapala’s reign, Vikramshila exerted influence over Nalanda’s affairs, highlighting its administrative and academic dominance at the time.
    • It drew over 1000 students and 100 teachers from across India and beyond, reflecting its international reputation as a center of learning.
    • The institution produced renowned scholars like Atisa Dipankara, who significantly contributed to establishing Buddhism in Tibet.
  • Features:
    • Vikramshila University boasted a central stupa encircled by 208 cells, designed to house student-monks engaged in study and meditation.
    • It included a library equipped with a unique cooling system, channeling water from a nearby reservoir to preserve delicate manuscripts.
    • The curriculum encompassed a wide range of subjects, such as theology, philosophy, grammar, metaphysics, logic, and tantras, showcasing its academic diversity.
    • The university’s administration was overseen by a Kulpati or Mahasthavir, a distinctive leadership role that ensured its smooth functioning.
  • Decline: Vikramshila University met its end when it was destroyed by Muhammad Bin Bakhtiyar Khalji around 1203 AD, an event that also marked the downfall of Nalanda University.

Vikramshila University FAQs

Q1. What was Vikramshila University?

Ans. Vikramshila University was an ancient Buddhist learning center in Bihar, India, established by King Dharmapala of the Pala dynasty in the 8th–9th century CE. It was a major center for Buddhist studies, particularly for Tantric Buddhism (Vajrayana).

Q2. Where was Vikramshila University located?

Ans. It was situated at Antichak in Bhagalpur district, Bihar, on the banks of the Ganges River.

Q3. Why was Vikramshila University established?

Ans. It was established to revive and strengthen Buddhist learning, which was perceived to be declining at Nalanda University. It became a prominent center for advanced Buddhist education.

Q4. What subjects were taught at Vikramshila University?

Ans. The university specialized in Buddhist philosophy, logic, grammar, metaphysics, and Tantra (Vajrayana Buddhism). It also had studies in Sanskrit, law, and other traditional sciences.

Source: IE


Nagarjunsagar-Srisailam Tiger Reserve (NSTR) Blog Image

Nagarjuna Sagar-Srisailam Tiger Reserve Latest News

The number of big cats in the Nagarjuna Sagar-Srisailam Tiger Reserve (NSTR) in the Nallamala forest area has increased from 74 in 2023 to 76 in 2024, as per the Annual Report on Status of Tigers, Prey and Other Mammals-2024. 

About Nagarjuna Sagar-Srisailam Tiger Reserve 

  • Location: It is located in the Nallamala hill ranges (an offshoot of the Eastern Ghats) of Andhra Pradesh.
  • This is the largest tiger reserve in the country, spreading over an area of 5937 sq. km.
  • It hosts the largest tiger population in the Eastern Ghat landscape.
  • It is named after two major dams in the area, Nagarjuna Sagar Dam and Srisailam Dam.
  • Two wildlife sanctuaries, namely Rajiv Gandhi Wildlife Sanctuary and Gundla Brahmeswaram Wildlife Sanctuary (GBM), constitute the NSTR.
  • The river Krishna traverses through this reserve for a linear distance of around 270 kilometers.
  • Topography: It consists of plateaus, ridges, gorges, and deep valleys.
  • Vegetation: Tropical dry deciduous forests having an undergrowth ofbamboo and grass.
  • Flora: The habitat has several endemics like Andrographis nallamalayana, Eriolaena lushingtonii, Crotalaria madurensis Var, Dicliptera beddomei, and Premna hamiltonii.
  • Fauna:
    • Top faunal species include Tiger, Leopard, Wolf, Wild Dog and Jackal.
    • The prey species are represented by Sambar, Chital, Chowsingha, Chinkara, Mouse Deer, Wild boar, and Porcupine.
    • The river Krishna has Muggers, Otters and Turtles.

Nagarjuna Sagar-Srisailam Tiger Reserve FAQs

Q1. In which state Nagarjunasagar-Srisailam Tiger Reserve is located?

Ans. Andhra Pradesh

Q2. Which river flows through Nagarjunasagar-Srisailam Tiger Reserve?

Ans. Krishna River

Q3. Which is the largest Tiger Reserve in India?

Ans. The largest Tiger Reserve in India is the Nagarjunsagar-Srisailam Tiger Reserve.

Source: ETVB


Permafrost Blog Image

Permafrost Latest News

According to a new study, permafrost covers 64.8% of the total area of J & K and Ladakh. 

About Permafrost

  • Permafrost is any ground that remains completely frozen32°F (0°C) or colder—for at least two years straight. 
  • Where are they found?
    • These permanently frozen grounds are most common in regions with high mountains and in Earth’s higher latitudes—near the North and South Poles.
    • They can be found on land and below the ocean floor.
    • It can extend down beneath the earth’s surface from a few feet to more than a mile, covering entire regions, such as the Arctic tundra, or a single, isolated spot, such as a mountaintop of alpine permafrost.
    • Permafrost coverslarge regions of the Earth. Almost a quarter of the land area in the Northern Hemisphere has permafrost underneath. 
  • What Is Permafrost Made Of?
    • Permafrost is made of a combination of soil, rocks and sand that are held together by ice. 
    • The soil and ice in permafrost stay frozen all year long.
    • Although the ground is frozen, permafrost regions are not always covered in snow.
    • Near the surface, permafrost soils also contain large quantities of organic carbon—a material leftover from dead plants that couldn’t decompose, or rot away, due to the cold.
    • Lower permafrost layers contain soils made mostly of minerals.
    • A layer of soil on top of permafrost does not stay frozen all year. This layer, called the active layer,thaws during the warm summer months and freezes again in the fall. 
    • In colder regions, the ground rarely thaws—even in the summer. There, the active layer is very thin—only 4 to 6 inches (10 to 15 centimeters). In warmer permafrost regions, the active layer can be several meters thick.

Permafrost FAQs

Q1. What country has the most permafrost?

Ans. The country with the most permafrost is Russia.

Q2. What is permafrost primarily made of?

Ans. A combination of soil, rocks, sand, and ice.

Q3. What is a major component found in the upper layers of permafrost?

Ans. Organic carbon from dead plants.

Source: TH


Equalization Levy Blog Image

Equalization Levy Latest News

The central government has proposed to abolish the Equalisation Levy, or digital tax, on online advertisements, aiming to benefit advertisers on platforms like Google and Meta. 

About Equalization Levy

  • The Equalisation Levy was introduced in India in 2016, with the intention of taxing the digital transactions i.e. the income accruing to foreign e-commerce companies from India. 
  • It is aimed at taxing business-to-business transactions. 
  • It is also often referred to as the "Google Tax"
  • It is a direct tax, which is withheld at the time of payment by the service recipient. 
  • The two conditions to be met to be liable to equalisation levy:
    • The payment should be made to a non-resident service provider;
    • The annual payment made to one service provider exceeds Rs.1,00,000 in one financial year.
  • Currently, not all services are covered under the ambit of equalisation Levy. The following services are covered:
    • Online Advertisement Services (Effective from June 1, 2016).
    • Any provision for digital advertising space or facilities/services or selling goods to Indian residents, or users accessing services/goods through Indian IP addresses (Effective from April 1, 2020).
    • It was also mentioned during the introduction of the levy that as and when any other services are notified, these will be included with the aforesaid services.
  • Equalisation Levy Exclusion:
    • The non-resident service provider has a permanent office in India, and the requested service is linked to that permanent office/establishment.
    • The total consideration amount to be paid for the specific service payable or received is less than Rs.1 lakh.
    • The service described is not intended to be used to pursue a profession or work.
    • An exemption under section 10(50) of the Act is provided to avoid double taxation for any income arising from specified services provided on which equalisation levy is chargeable.
    • An income chargeable to tax as fees or royalties for technical services will not be included as income for the equalisation levy purposes.
  • The tax rate under the equalisation levy depends on the type of service or transaction.
    • For specified digital services, such as online advertising, the rate is 6% of the gross consideration.
    • For e-commerce transactions, such as online sale of goods or services, the rate is 2% of the gross consideration.

Equalization Levy FAQs

Q1. What is the main objective of the Equalisation Levy?

Ans. To tax digital transactions and income earned by foreign e-commerce companies from India

Q2. When was the Equalisation Levy introduced in India?

Ans. 2016

Q3. What type of tax is the Equalisation Levy?

Ans. It is a Direct Tax.

Source: TOI


Black Sea

25-03-2025

06:30 AM

timer
1 min read
Black Sea Blog Image

Black Sea Latest News

US-Russia Talks in Saudi Arabia on Ukraine War and Black Sea Ceasefire

Why in the News?

  • US and Russian officials are engaged in diplomatic talks in Saudi Arabia to advance a broader ceasefire in Ukraine and negotiate a Black Sea maritime ceasefire.
  • US President Donald Trump has intensified efforts to broker peace, holding prior discussions with Ukrainian officials in Riyadh.
  • The Black Sea ceasefire agreement aims to restore free navigation for shipping, although it has not been a major military flashpoint in recent months.
  • The talks are taking place amid continued Russian missile strikes on Ukraine, including a recent attack on Sumy that injured 65 people, including 14 children.

About the Black Sea

  • Location: A large inland sea situated at the southeastern extremity of Europe.
  • Type: One of the marginal seas of the Atlantic Ocean.
  • Area: Covers approximately 436,000 square kilometers (168,000 square miles).
  • Bordering regions:
    • West: Balkan Peninsula (Southeastern Europe).
    • East: Caucasus Mountains.
    • North: East European Plains (Russia & Ukraine).
    • South: Anatolia (Turkey, Western Asia).
  • Bordering countries:
    • Russia and Ukraine (North).
    • Turkey (South).
    • Bulgaria (West).
    • Georgia (East).
    • Romania also has access to the Black Sea.
  • Key features:
    • The Crimean Peninsula extends into the Black Sea from the north.
    • Russia has the longest coastline (2,300 km), followed by Turkey (1,329 km) and Ukraine (1,282 km).
    • It connects to the Aegean Sea (Mediterranean) via the Bosporus Strait, the Sea of Marmara, and the Dardanelles Strait.
    • The Kerch Strait links it to the Sea of Azov.
    • The Black Sea has lower salinity than the world’s oceans due to isolation from the Mediterranean.
    • Major rivers flowing into it include the Danube, Dnieper, Southern Bug, Rioni, and Dniester.

Environmental and Strategic Importance of the Black Sea

  • World’s Largest Meromictic Basin: The movement of water between upper and lower layers is rare, leading to unique ecological conditions.
  • Anoxic zones: One of the largest anoxic basins, meaning low dissolved oxygen in deeper layers, affecting marine biodiversity.
  • Strategic Geopolitical Importance:
    • Crucial for global trade, particularly for Russia and Ukraine’s grain and energy exports.
    • NATO and Russia frequently conduct naval operations in the region.
    • Russia’s Black Sea Fleet is stationed in Sevastopol, Crimea, making the region highly militarized.
    • Key Islands: Snake Island (Ukraine); Giresun Island (Turkey); St. Ivan Island (Bulgaria).

Black Sea FAQs

Q1. Where is the Black Sea located?

Ans. The Black Sea is located between Eastern Europe and Western Asia, bordered by six countries: Turkey, Bulgaria, Romania, Ukraine, Russia, and Georgia.

Q2. Why is the Black Sea geopolitically significant?

Ans. The Black Sea is strategically important due to its role as a major trade route, energy transit hub, and military interest zone for regional and global powers like Russia, NATO, and the EU.

Q3. What is the Montreux Convention, and how does it relate to the Black Sea?

Ans. The Montreux Convention (1936) regulates the passage of naval ships through the Bosporus and Dardanelles Straits. It grants Turkey control over the straits and limits the naval presence of non-Black Sea countries.

Source: IE