Essential Facts (Prelims): 20 December, 2018

Essential Facts for Prelims - CSE 2019. Daily Compilation of Important Factual Information from Relevant News Sources for Civil Services Prelims Exam (UPSC)

NITI Aayog report

  • ‘Strategy for New India @75’ document has been released by NITI Aayog.
  • In the report NITI Aayog said the target should be 8% growth over the period 2018-23.
  • Present rate of investment (gross fixed capital formation as a share of GDP) is about 29%.
  • India’s tax-GDP ratio of around 17% is half the average of OECD countries (35%) and is low even when compared to other emerging economies like Brazil (34%), South Africa (27%) and China (22%).

Commercial Surrogacy

  • The Lok Sabha passed a Bill banning commercial surrogacy.
  • It provides with penal provisions of jail term of up to 10 years and fine of up to ₹10 lakh.
  • The Bill allows only close Indian relatives to be surrogate mothers and purely for “altruistic” reasons.
  • An Indian infertile couple, married for five years or more, can go in for ‘altruistic surrogacy’ where the surrogate mother will not be paid any compensation except medical expenses and insurance.

GSAT-7A

  • GSLV-F11 rocket carried communication satellite GSAT-7A.
  • GSLV-F11 has indigenous cryogenic stage
  • GSAT-7A meant to enhance the communication infrastructure of the Indian Air Force.
  • GSAT-7A is the heaviest satellite till date. It weighs 2, 250 kg.

Jute

  •  The Centre has mandated the packaging of 100% of foodgrain and 20% of sugar in jute bags for 2018-19.
  • While West Bengal and Andhra Pradesh are the two largest jute goods producers, Punjab is the largest procuring State.

Angel tax

  • The angel tax is a 30.9 % tax levied on investments made by external investors in startups or companies.
  • The entire investment is not taxed – only the amount that is considered above “fair value” valuations of the startup, classified as ‘income from other sources’ in the Income Tax Act of India.
  • This can cause differing interpretations of “fair value” and leave startups vulnerable to unduly high taxes because the taxman feels the investment is too high over their valuation.

AKARI

  • Japanese scientists have detected evidence of water on 17 asteroids for the first time using data from the infrared satellite AKARI.
  • Researchers found that water is retained in asteroids as hydrated minerals, which were produced by chemical reactions of water and anhydrous rocks that occurred inside the asteroids.

Odisha

45% elephant mortality is caused due to unnatural reasons in Odisha.


 

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