Addapedia Odisha | Daily Current Affairs | 11 October 2023 | Download PDF

About the scheme:

• Announced in the 2017 Union Budget, electoral bonds are interest-free bearer instruments used to donate money anonymously to political parties. 
• Simply put, anyone can donate money to political parties through them.

Who is eligible to receive electoral bonds?

• Only political parties registered under Section 29A of the Representation of the People Act, 1951 and which secured not less than 1% of votes polled in the last general election to the House of the People or the Legislative Assembly of the State.

• Supreme Court to hear a slew of petitions challenging the electoral bonds scheme.

What are Electoral bonds?

• They are an instrument through which anyone can donate money to political parties.
• It is like a promissory note that can be bought by any Indian citizen or company incorporated in India from select branches of State Bank of India.

Did you know?

• An individual or party will be allowed to purchase these bonds digitally or through cheque.

• The political parties have to disclose the amount to the Election Commission.
• The electoral bonds will not bear the name of the donor.

According to CBDT –

• India’s net direct tax collections grew 21.8% to ₹9.57 lakh crore surpassing over half of the Budget estimates for this year.
• Personal income tax revenues rose 32.5% and corporate taxes increased 12.4%.

Central Board of Direct Taxes (CBDT):

• It is a statutory authority functioning under the Central Board of Revenue Act, 1963.
• The CBDT is a part of the Department of Revenue in the Ministry of Finance. 
• Its functions include formulation of policies, dealing with matters relating to levy and collection of direct taxes, and supervision of the functioning of the entire Income Tax Department. 
• CBDT also proposes legislative changes in direct tax enactments and changes in rates and structure of taxation.

The year 2023 is on course to possibly become the warmest year in recorded history, with temperatures nearing 1.4°C above the pre-industrial era average.

Key facts

• In September 2023, global temperatures reached a record high. 
• The average surface air temperature was 16.38°C, which is 0.93°C higher than the September average between 1991 and 2020. Moreover, it was 0.5°C warmer than the earlier record set in September 2020.

• It is 6.3 in percentage. 
• The International Monetary Fund raised India’s GDP projection marginally by 0.2% from July’s estimates of 6.1% even as it slashed the global growth forecast to 3% for FY24

• security and defence policy, 
• R&D, 
• education in military field, 
• maritime domain awareness, 
• sharing of defence information and 
• industrial cooperation, including co-development, co-production and 
• setting up of joint ventures.”

The Centre launched a standardised national protocol to identify and provide extensive care to malnourished children in the country 

Key points

• This includes fresh initiatives like appetite testing and “buddy mother” concept. 
• The ‘Protocol for Management of Malnutrition in Children’ was launched by Union Minister for Women and Child Development in New Delhi. 
• It provides detailed 10-step guidelines for identification and management of malnourished children at the anganwadi level, including decision-making for referral, nutritional management and follow-up care of after intervention.

• The Tele Manas Seva, has counselled more than 3,50,000 people till date and currently provides counselling to 2,000 people through 44 Tele Manas Cells.
• It was launched last year on the occasion of World Mental Health Day

Key points

• States/UTs were also awarded based on their performance in achieving the highest number of calls in the National Tele Mental Health Programme.
• In the larger States category, Tamil Nadu, Maharashtra, and Uttar Pradesh were awarded ranking from first to third.
• In the smaller States category, Telangana, Jharkhand, and Kerala were awarded.

• The Reserve Bank of India informed that the strict supervisory norms under the Prompt Corrective Action (PCA) Framework will apply to state-owned non-banking financial companies from October 2024.
• Some of the major government non-banking financial companies (NBFCs) include PFC, REC, IRFC and IFCI.

Impact

Being put under the PCA framework means 

• restrictions on dividend distribution/remittance of profit; 
• promoters/ shareholders to infuse equity and reduction in leverage; and 
• restrictions on taking on other contingent liabilities on behalf of group companies.
• The objective is to enable supervisory intervention at the appropriate time.

• It is a framework introduced by the Reserve Bank of India in 2022. 
• The Prompt Corrective Action framework is a structured early-intervention mechanism for banks with weak financial records due to loss of profitability or poor asset quality.
•  Reserve Bank of India uses the PCA framework to keep track of banks that haven’t performed well financially.

• An array of quantum dots can be a TV screen by receiving electric signals and emitting light of different colours. 
• If one of the energy levels an electron jumps between in a quantum-dot atom is the conduction band, the dot can operate like a semiconductor. 
• Also, solar cells made with quantum dots are expected to have a thermodynamic efficiency as high as 66%. 
• A quantum dot can also highlight a tumour that a surgeon needs to remove, hasten chemical reactions that extract hydrogen from water, and 
• as a multiplexer in telecommunications.

• Odisha CM launched the most ambitious ‘Ama Odisha Nabin Odisha’ programme to augment various developmental projects in villages.
• The scheme aims to enhance rural infrastructure and preserve the rich cultural heritage of the state, particularly the Jagannath culture.  

About Programme

• A flagship programme of the state government to promote Jagannath culture and strengthen digital infrastructure in gram panchayats and villages.
• The scheme has been launched through virtual mode in Keonjhar and Bhadrak districts in the first phase. 
• At the grassroots level, the implementation of the scheme will be carried out by the Panchayati Raj Institutions. 
• Under the scheme, Gram Panchayats have been empowered to undertake various works worth up to Rs 10 lakh. 

The Archeological Survey of India (ASI) has found a piece of broken sculpture dating back to the medieval era during excavation at the Barabati fort in Odisha’s Cuttack district.

Barabati Fort 

• It is a 987 CE fort built by Marakata Keshari of Somavanshi (Keshari) dynasty in Cuttack, Odisha.
• The ruins of the fort remain with its moat, gate, and the earthen mound of the nine-storied palace
• This medieval fort is situated  about 8 km away from the center of the Cuttack, at the apex of a delta formed by the river Mahanadi on the north and its distributary, the Kathajodi on the south

The chief minister is set to officially launch the Location Accessible Multimodal Initiative (LAccMI) scheme, a flagship programme of the State Government

Location Accessible Multimodal Initiative (LAccMI) scheme

• The scheme is aiming at providing  a sustainable, affordable, and safe transportation for the rural farmers and SHG entrepreneurs.
• The scheme will establish road transportation link between rural and remote villages to the blocks and district HQs.

Odisha government will showcase the state’s handicraft products, tribal culture and delicacies in its pavilion at India International Trade Fair (IITF) scheduled to start in New Delhi

India International Trade Fair

• It started in 1980.
• It has evolved as a major event for the business community. 
• It is a premier event organized by the India Trade Promotion Organization, the nodal trade promotion agency of the Government of India.

• The training of representatives of 25 urban local bodies (ULBs) on MUKTASoft App has been started in Bhubaneswar.
• It is to implement Odisha government’s Mukhya Mantri Karma Tatpara Abhiyan (MUKTA) scheme

About Scheme

• It is the flagship programme of the government 
• It has community-driven, participatory, and bottom-up approach,
• It focuses on ensuring livelihood opportunities to the vulnerable urban workforce and migrant labourers in 115 urban areas of the state.
• The government has designed and developed the web-based application, MUKTASoft for streamlining the implementation and facilitating quick payment to the stakeholders. 
• The version-1 of the MUKTASoft application was introduced in Dhenkanal and Jatani municipalities on pilot basis.

The aerial ropeway project at Nandankanan Zoological Park could start operations.

Nandankanan Zoological Park (NZP)

• It is located in Bhubaneswar, Odisha. 
• It is home to about 1660 individual animals representing 166 species, including 67 species of mammals, 81 species of birds, and 18 species of reptiles. 
• It has the largest collection of white tigers in India. 

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