Government Job Preparation

Born:  15 th  October 1931 at Rameswaram, Tamil Nadu. His birth anniversary is celebrated as the  National Innovation Day. He was an  Indian scientist and politician  who played a leading role in the development of  India’s missile and nuclear weapons programmes  like  Integrated Guided Missile Development Programme  (IGMDP). He planned programmes to produce a number of successful missiles, which helped earned him the nickname  “Missile Man”. In  Indian Space Research Organization  (ISRO), he was the project director of the  SLV-III, India’s first indigenously designed and produced satellite launch vehicle. In 1998, he put forward a countrywide plan called  Technology Vision 2020 , which he described as a  road map for transforming India  from a less-developed to a developed society in 20 years. The plan called for, among other measures,  increasing agricultural productivity, emphasizing technology as a...

  Why in News? Recently, the Union Education Minister has launched the  Kalam Program for Intellectual Property Literacy and Awareness Campaign  (KAPILA) on the occasion of the 89 th  birth anniversary of Dr APJ Abdul Kalam . He was  born on 15 th  October 1931. Points to Remember:-  KAPILA: Under this campaign, students pursuing education in higher educational institutions will get  information about the correct system of application process for patenting their invention. Students in higher education institutions of the country are innovating constantly under the guidance of their teachers but they are not aware of the system of filing its patent. Through this campaign,  students will be able to get benefits from their inventions  by patenting them. For India to become a  USD 5 trillion economy by 2024-25,  students and scientists have to be  more aware of protecting intellectual property  (IP). The program will...

Formation:  The Financial Action Task Force (FATF) is an  inter-governmental body  established in  1989  during the  G7   Summit  in Paris. Objectives:  To set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system. Secretariat:  Its Secretariat is located at the  Organization for Economic Cooperation and Development (OECD)   headquarters  in  Paris. Member Countries:  The FATF currently has  39 members  including two regional organizations — the  European Commission  and  Gulf Cooperation Council. India  is a member of the FATF. Decision Making Body:  The  FATF Plenary  is the decision making body of the FATF. It  meets three times per year. Lists under FATF: Grey List:  Countries that...

  Why in News? The   Financial Action Task Force (FATF)  has  decided to keep Pakistan on the “greylist”  till the next review of its compliance to the recommendations in February 2021. The decision was taken after a  three-day virtual plenary session. Points to Remember:- Pakistan Remains on Grey List: The FATF had issued the  27-point action plan  after placing  Pakistan on the ‘Grey List’ in June 2018.  The action plan  pertains to curbing money laundering and terror financing. Recently, the task force’s  International Cooperation Review Group (ICRG)  noted that Pakistan had complied with 21 points. Since 2007,  the ICRG has analyzed high-risk jurisdictions and recommended specific action to address the money laundering/terror financing risks emanating from them. At the  recent plenary session,  the FATF observed that Pakistan has made progress across all action plan items and has  largely...

  The Global Bio-India summit is to be held for the first time in India between November 21 and November 23, 2019. It is being organized by BIRAC and DBT of Ministry of Science and Technology. The purpose of the summit is to attract investments, showcase the country’s indigenous strengths and aspirations. Significance Biotech is identified as one of the key sectors in Make in India 2.0. The event is planned to bring in stakeholders of 30 countries together. It will include 200 exhibitors and 250 startups. The Central and state regulatory bodies are also participating in the summit. On the whole, around 3500 participators are expected Biotechnology and its contributions are important for India in achieving its 5 trillion USD target. Biotechnology is also one of the thrust areas for driving GDP growth of the country. Key Objectives of the Summit To identify funding and collaboration opportunities for research and Development To attract major projects from international companies To d...

  Why in News? According to the  Reserve Bank of India (RBI)  data, the country’s  foreign exchange (forex) reserves touched a lifetime high of USD 555.12 billion  after it surged by USD 3.615 billion in the week ended 16 th  October 2020. Points to Remember:- Reason Behind the Increase: The rise in total reserves was  due to a sharp rise in Foreign Currency Assets (FCAs),  a major component of the overall reserves. FCA  jumped by USD 3.539 billion  to USD 512.322 billion. Foreign Exchange Reserves: Foreign exchange reserves are  assets held on reserve by a central bank  in foreign currencies, which can include bonds, treasury bills and other government securities. It needs to be noted that  most foreign exchange reserves are held in U.S. dollars. These assets  serve many purposes  but are most significantly held to ensure that the central bank  has backup funds  if the national currency rapidly devalue...

  It is  used to estimate the increase in the prices of goods and assets year-by-year due to inflation. It is  calculated to match the prices to the inflation rate.  In simple words, an increase in the inflation rate over time will lead to a rise in the prices. Cost Inflation Index =  75% of the average rise in the Consumer Price Index  (urban) for the immediately preceding year. Consumer Price Index  compares the current price of a basket of goods and services (which represent the economy) with the cost of the same basket of goods and services in the previous year to calculate the increase in prices. The  Central Government specifies CII by notifying in the official gazette. Source:-  https://www.incometaxindia.gov.in/