2 May 2024, The Hindu
April’s gross GST takings power past ₹2.1 lakh cr.
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GS 3: Indian Economy - Government Budgeting
- India's GST revenues surged to a record ₹2.1 lakh crore in April, a 12.4% increase from the previous high of ₹1.87 lakh crore.
- Net revenues, after refunds, reached ₹1.92 lakh crore, up 15.5% from April 2023. Finance Minister Nirmala Sitharaman credited the surge to robust economic momentum and efficient tax collections, with no pending IGST dues to states.
- Domestic transactions grew by 13.4%, while goods imports saw an 8.3% uptick, helping breach the ₹2 lakh crore milestone.
- This rebound follows a 5% contraction in goods imports in March.
- Typically, April's GST revenues, reflecting March transactions, are the year's highest as taxpayers finalize accounts. Experts predict a revenue moderation in upcoming months, though remaining above the ₹1.68 lakh crore monthly average of 2023-24.
- Additionally, GST compensation cess collections hit a record ₹13,260 crore, including ₹1,008 crore from imported goods, signaling robust revenue streams beyond standard GST rates.
IIA releases video of the moon occulting brightest star Antares
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GS 3: General awareness in the fields of IT, Space, Computers, Robotics, Nanotechnology, bio-technology
- The Indian Institute of Astrophysics (IIA) in Bengaluru recorded a unique celestial event where the moon passed in front of Antares, a prominent red star, on April 27.
- Lasting around 40 minutes, this phenomenon was visible exclusively from southern India.
- Using an eight-inch telescope with a camera, IIA captured the event from its Bengaluru campus.
- Occasional occultations, like this one, occur as the moon orbits Earth, hiding bright stars or planets.
- Antares, the brightest star in Scorpius, experiences such events periodically due to the moon's proximity.
- The last similar event visible from India was on February 5, and the next is expected in June 2027.
- From Bengaluru's perspective, Antares disappeared behind the moon's bright side at around 1.13 a.m. and reappeared on the darker side roughly 40 minutes later at 1.53 a.m.
ISRO finds proof of enhanced possibility of water ice in polar craters of the moon
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GS 3: Achievements of Indians in science & technology.Indigenisation of technology and developing new technology
- Indian space scientists, in collaboration with ISRO's SAC, IIT Kanpur, University of Southern California, JPL, and IIT (ISM) Dhanbad, have discovered increased potential for water ice in the moon's polar craters.
- Sub-surface ice, five to eight times more abundant than surface ice, highlights the necessity of drilling for future missions and lunar habitation.
- The northern polar region contains twice as much ice as the southern counterpart.
- The study validates the theory that sub-surface water ice originates from volcanic out-gassing during the Imbrian period, influenced by mare volcanism and impact cratering.
- Accurate knowledge of ice distribution aids in selecting landing and sampling sites for future missions, supporting ISRO's plans for lunar volatile exploration.
The wrong way to fight inequality
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GS 2: Issues relating to development and management of Social Sector/Services relating to Health, Education, Human Resources
- French economist Thomas Piketty and colleagues recently published findings on India's economic inequality trends, suggesting it's worse now than during British colonial rule.
- In 2022, the top 1% of Indians owned 40.1% of total wealth, while the bottom 50% owned only 6.4%.
- Piketty advocates for a wealth tax, but it's crucial to analyze his data's implications. Income and wealth inequality surged in India post-1980s, coinciding with market adoption.
- Despite the bottom 50%'s declining income share, their real income grew four-fold from 1991 to 2022.
- However, barriers hinder their economic freedom compared to the top earners.
- Wealth inequality is inevitable but exacerbated by government privileges favoring the top 1%.
- Implementing a wealth tax may harm economic growth and lower-income groups. Instead, fostering economic freedom for the poor to compete in the marketplace is vital for reducing inequality and enhancing living standards.
The services story
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GS 3: Indian Economy (international trade)
- Goldman Sachs' research report, "India's Rise as the Emerging Services Factory of the World," highlights India's impressive growth in global services exports, reaching nearly $340 billion in 2023.
- This surge, particularly in intangible exports, has cushioned India's external account balances against shocks like expensive oil imports.
- Despite challenges, Goldman Sachs projects services exports to rise to $800 billion by 2030, driving discretionary consumption and real estate demand.
- However, immediate outlooks remain cautious due to uncertainties in the IT services sector, emphasizing the need for sustained growth.
- India's response should include global market access, professional services opportunities, and a light-touch regulatory approach to foster innovation.
Sea also rises
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Prelims syllabus: General issues on Environmental Ecology, Biodiversity and Climate Change
- India faces increasing heatwaves amid potential relief from a promising monsoon forecast by the India Meteorological Department.
- However, a study led by the Indian Institute of Tropical Meteorology warns of drastic consequences from global carbon emissions, projecting a 1.7°C-3.8°C rise in the Indian Ocean temperature by 2100.
- This warming trend could trigger marine heatwaves, exacerbating cyclone formation and coral bleaching, while impacting fisheries.
- The ocean's thermal capacity is escalating rapidly, with profound implications for mainland India, including more severe cyclones and erratic monsoons.
- Collaboration with Indian Ocean-bordering nations is crucial for comprehensive data gathering and projections to safeguard infrastructure and populations.
- Despite global emission reduction commitments, the oceans' delayed response necessitates nuanced approaches to mitigate climate-induced risks effectively.
The trouble with the SC’s EVM verdict
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GS 3: Science and Technology- Recent developments and their applications and effects in everyday life
- The 2022 Nobel Prize for physics recognized quantum entanglement, affirming its reality within existing physics frameworks.
- In a legal context, the Supreme Court's recent rulings on electronic voting machines (EVMs) highlight a concerning reliance on undisclosed "source code" and blind trust in technical assurances from the Election Commission (EC).
- This approach risks undermining transparency and accountability in the electoral process. Contrary to claims, understanding how software operates doesn't inherently compromise security; open-source platforms like WordPress demonstrate this.
- The refusal to disclose EVM source code undermines public confidence and overlooks established cryptographic methods for independent verification without compromising security.
- Courts must reassess such matters beyond constitutional frameworks, recognizing the importance of open-source transparency and trustless software in safeguarding democratic processes.
Analysing labour on a warming planet
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GS 3: Indian Economy and issues relating to planning, mobilisation of resources, growth, development and employment
- The International Labour Organization (ILO) highlights the urgent need to climate-proof labor and address emerging hazards in the workplace due to climate change.
- These hazards include excessive heat, extreme weather events, workplace air pollution, vector-borne diseases, and agrochemicals, affecting various sectors such as agriculture, construction, and gig employment.
- While India has laws like the Occupational Safety, Health and Working Conditions Code, 2020, addressing workplace safety, gaps remain in regulating heat hazards.
- Existing regulations lack updated standards for thermal comfort and cooling alternatives, necessitating revisions to protect workers' health amid rising temperatures.
- Moreover, amendments are needed to address effluent disposal and silica exposure risks, ensuring comprehensive protection for workers in a changing climate.
- The focus should be on establishing a universally accepted regulatory framework to safeguard workers' health and well-being in the face of climate change.
‘India one of key geographies affected by phishing attacks’
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GS 3: Internal Security- Basics of cyber security
- India faces significant phishing attacks, with employees often falling victim to malicious links or attachments.
- However, there's progress in reporting practices, with 20% of users now identifying and reporting phishing attempts.
- Yet, the region is dominated by espionage attacks, constituting 25% of cyber incidents in APAC, with a 180% growth in vulnerability exploitation.
- On average, organizations take 55 days to patch half of critical vulnerabilities, with non-malicious human error contributing to over two-thirds of breaches.
- The 2024 Data Breach Investigations Report analyzed 30,458 security incidents and 10,626 breaches in APAC, highlighting system intrusion, social engineering, and basic web-application attacks as primary breach methods, totaling 95% of incidents.
Particles called quarks hold the key to the final fate of some stars
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GS 3: Science and Technology- Recent developments and their applications and effects in everyday life
- Quarks, fundamental particles within protons and neutrons, form hadrons and are essential to understanding nuclear fusion and star evolution.
- Recent studies suggest three-quark clumps are prevalent, challenging conventional physics models.
- Additionally, observations indicate heavy-quark clumps exist but are short-lived, complicating study. Understanding quarks is vital for comprehending phenomena like quark stars, hypothesized objects resulting from extreme gravitational collapse.
- Astrophysical observations hint at quark matter within neutron stars, highlighting the need for further study to confirm and understand these exotic states of matter.
- The study of quarks, their behavior, and potential deconfinement in extreme conditions offer insights into the universe's fundamental processes and unresolved questions in physics.
Plastic treaty talks conclude in Ottawa with little progress
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Prelims syllabus: Current events of national and international importance
- The Global Plastics Treaty negotiations in Ottawa were termed "disappointing" by activist groups, as countries failed to agree on halting primary plastic production.
- Despite recognizing plastic pollution's severity, the negotiations faced obstacles due to economic interests, lack of alternatives, and the complexity of plastic use.
- The talks aimed to assess emissions, production, waste management, and finance options, but failed to set a timeline for halting plastic production.
- India opposed restrictions on primary plastic production, citing UNEA resolutions, and emphasized existing regulations on plastic manufacturing chemicals.
- Further discussions are planned for November 2024 in Busan, South Korea, to address unresolved issues.
