Today's Brief 23/09/2024
- Smriti IASxp
- Sep 23, 2024
- 6 min read
Youtube English IE https://youtu.be/Nzi-u4quZjE?si=7ixFed8dIrarj94L
Youtube Hindi JN: https://youtu.be/yxxBBViPvS0?si=JCkXISVtVkX-luIX
World Food India 2024: With the objective of introducing the world to rich Indian food culture as well as promoting investments in the diverse food processing sector of the country, the Ministry of Food Processing Industries launched the first edition of World Food India in 2017.
In view of celebrating 2023 as the International Year of Millets and to bring global food processing industry together, the Ministry of Food Processing Industries organized the second edition World Food India in 2023. This year World Food India 2024 will be organized from 19th to 22nd September 2024.
backward linkages, food processing equipment, processing related R&D, cold chain storage solutions, start-ups, logistic & retail chains, encompassing the entire food processing value chain.
Key Highlights:
Global Food Hub: India's aspiration to become a global food hub was prominently displayed.
Investment Opportunities: The event attracted significant investment from both domestic and international players.
Technology Showcase: Latest food processing technologies and innovations were showcased.
Policy Discussions: Discussions on government policies and initiatives to promote the food processing sector were held.
B2B Networking: Numerous business-to-business meetings and partnerships were formed.
World Food India 2024 played a crucial role in:
Boosting India's Food Processing Sector: The event helped to increase awareness of India's potential in this sector.
Attracting Foreign Investment: It attracted significant foreign investment, contributing to the growth of the Indian economy.
Promoting Technology Adoption: It encouraged the adoption of advanced technologies in the food processing industry.
Strengthening Global Food Trade: It facilitated partnerships and collaborations between Indian and international food companies.
2.Vivaad se Vishwas (DTVSV) Scheme: was a scheme introduced by the Indian government to resolve tax disputes between taxpayers and the tax authorities. The primary objective of the scheme was to reduce the pendency of tax cases in courts and promote voluntary compliance with tax laws.
Key Features of DTVSV:
Concessions: The scheme offered various concessions to taxpayers who voluntarily declared their undisclosed income or wealth.
Reduced Penalties: Taxpayers were eligible for a significant reduction in penalties and interest payable on their tax liabilities.
No Prosecution: The government assured that there would be no prosecution or investigation against taxpayers who participated in the scheme.
Deadline: The DTVSV scheme had a specific deadline, after which the concessions were no longer available.
Benefits of DTVSV:
Reduced Tax Litigation: The scheme helped to reduce the burden of tax litigation on both taxpayers and the government.
Increased Tax Revenue: By encouraging taxpayers to declare their undisclosed income, the government was able to increase its tax revenue.
Improved Tax Compliance: The DTVSV scheme promoted voluntary compliance with tax laws and discouraged tax evasion.
3. Digital payments surge to Rs. 1,669 lakh crore in first five months of FY 2024-25: Finance Ministry: The value of digital payments surged to ₹1,669 lakh crore in the first five months (April-August) of the current financial year 2024-25, according to the Union Finance Ministry.
The ministry reported that the transaction volume of digital payments reached 8,659 crore during the same period. The value of UPI transactions has grown from ₹1 lakh crore to ₹200 lakh crore at a CAGR of 138%. Additionally, in the last five months (April-August FY 2024-25), the total transaction value surged to an impressive ₹101 lakh crore.
In a statement on Friday, the Ministry of Finance highlighted that digital payments in India have witnessed significant growth, with the total number of digital payment transactions increasing from 2,071 crore in FY 2017-18 to 18,737 crore in FY 2023-24, at a compound annual growth rate (CAGR) of 44%.
“During the last five months (April-August) of the current financial year 2024-25, the transaction volume has reached 8,659 crore.
The value of transactions has grown from ₹1,962 lakh crore to ₹3,659 lakh crore at a CAGR of 11%. Additionally, in the last five months (April-August) of the current financial year 2024-25, the total transaction value has surged to an impressive ₹1,669 lakh crore,” the ministry said.
The ministry also emphasized that UPI remains the cornerstone of India’s digital payment ecosystem. UPI transactions have grown from 92 crore in FY 2017-18 to 13,116 crore in FY 2023-24, with a CAGR of 129%
4. India to launch first-ever tri-services ‘Future Warfare’ course on September 23: The Indian Armed Forces will conduct their first-ever tri-services “Future Warfare” course from September 23-27, under the aegis of the Headquarters Integrated Defence Staff. The course, spearheaded by Chief of Defence Staff General Anil Chauhan, aims to prepare officers for the evolving nature of modern warfare.
According to an official release from the Ministry of Defence, the “Future Warfare” course will be rank-agnostic, inviting officers ranging from Major Generals to Majors, and their equivalents from the Navy and Air Force. The course is designed to familiarize participants with both the operational and technological dimensions of modern conflicts.
Key focus areas will include the evolving nature of warfare, encompassing contact and non-contact engagements, kinetic and non-kinetic operations, and psychological and informational warfare. Officers will explore how future conflicts will play out across new domains, such as cyberspace, space, and the electromagnetic spectrum.
The course will also delve into the impact of emerging technologies, including Artificial Intelligence, Machine Learning, robotics, and hypersonic weapons, on future battlefields. These disruptive technologies are expected to redefine the conduct of warfare in the years to come.
Officers must be equipped to navigate this complex landscape, leveraging new technologies, and adapting to innovative tactics.
5.Sukanya Samriddhi Yojana: Under the 'Sukanya Samriddhi Yojana' launched by Hon’ble Prime Minister Shri Narendra Modi under 'Beti Bachao, Beti Padhao', while many accounts of daughters up to age of 10 years have been opened in post offices, in many villages, accounts of all eligible daughters have been opened and declare them as complete Sukanya Samriddhi Gram.
On 'International Daughter's Day' (22 September), Postmaster General of North Gujarat Region, Ahmedabad, Shri Krishna Kumar Yadav said that till now about 500 villages in North Gujarat region have been made complete Sukanya Samriddhi Grams.
Sukanya accounts of all eligible girls up to age of ten years have been opened in these villages in the post office.
Not only this, in these villages, if there is an announcement of the birth of a daughter in any house, the postman immediately reaches there to open her Sukanya account.
6.Compensatory afforestation (CA) refers to the process of planting trees to compensate for the loss of forests due to activities like development projects, infrastructure expansion, or any other land use that requires deforestation. This practice is a key element in forest conservation and environmental management policies, especially in countries like India.
Key Points on Compensatory Afforestation:
Purpose:
CA is intended to mitigate the negative effects of deforestation by restoring forest cover in a different area. It ensures that when forests are cleared, an equal or greater area of land is afforested or reforested elsewhere.
Implementation in India:
Under the Forest (Conservation) Act, 1980, any non-forest land project that involves forest diversion requires compensatory afforestation.
The Compensatory Afforestation Fund Management and Planning Authority (CAMPA) was set up by the Indian government to manage funds collected for afforestation.
CAMPA ensures that the funds collected from entities responsible for deforestation are utilized for afforestation, forest conservation, and wildlife protection activities.
Afforestation Targets:
In some cases, compensatory afforestation involves planting trees on non-forest land, while in other cases, degraded forest land is afforested to bring it back to a healthy state.
The area for afforestation is typically twice the area of forestland diverted for non-forest purposes.
Challenges:
Land Availability: Finding suitable land for afforestation can be difficult, as there may be competing land-use demands.
Monitoring: Ensuring the long-term survival of newly planted trees and forests can be challenging, and it requires effective monitoring and maintenance.
Biodiversity: Afforested areas may not always replicate the biodiversity of the original forests, potentially leading to ecological imbalances.
Benefits:
Carbon Sequestration: Afforestation helps absorb CO₂ from the atmosphere, contributing to climate change mitigation.
Biodiversity Conservation: Well-managed afforestation can support wildlife habitats and improve ecosystem services like water regulation and soil conservation.
Livelihoods: In some cases, afforestation projects can generate employment for local communities and contribute to sustainable livelihoods.
In summary, compensatory afforestation is a critical tool in balancing development with environmental sustainability, especially in countries with rapidly growing economies and infrastructure needs like India. However, its effectiveness depends on proper implementation, monitoring, and alignment with conservation goals.
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