From UPSC perspective, the following things are important :
Prelims level: UAPA
Mains level: Read the attached story
Central Idea
Allegations against NewsClick: The FIR against NewsClick alleges illegal funding from China, routed through the United States.
UAPA Provisions: The FIR invokes various sections of the Unlawful Activities (Prevention) Act (UAPA), with a primary focus on Section 16, which deals with punishment for terrorist acts.
Understanding UAPA Provisions
*Section 15 – Definition of “Terrorist Act”
Section 15 of the UAPA defines “terrorist act” and prescribes imprisonment for at least five years to life. In cases where the act results in death, the punishment is either death or imprisonment for life.
This section encompasses serious and violent acts with the potential to threaten India’s unity, integrity, security, economic security, or sovereignty.
It includes actions such as the use of explosives, causing death or damage to property, disruption of essential services, and damaging monetary stability through counterfeiting.
Other UAPA Provisions Invoked
Section 13 – Unlawful Activities: This section deals with unlawful activities and their consequences.
Section 17 – Raising Funds for Terrorist Acts: It addresses raising funds for terrorist activities.
Section 18 – Conspiracy: This section covers conspiracy related to terrorist acts.
Section 22 (C) – Offences by Companies, Trusts: This provision pertains to offenses committed by companies and trusts.
IPC Sections Invoked: Additionally, the FIR includes IPC sections 153 A (promoting enmity between different groups) and 120B (criminal conspiracy).
Understanding the UAPA Framework
Unique Criminal Law Framework: The UAPA provides an alternative criminal law framework that differs from the general principles of criminal law.
Enhanced State Powers: Compared to the Indian Penal Code (IPC), the UAPA grants the state greater powers.
Bail Provisions: The UAPA has stringent conditions for bail and relaxes timelines for the state to file chargesheets.
Denying Bail: To deny bail under the UAPA, the court must establish a “prima facie” case against the accused.
Prima Facie Definition: In 2019, the Supreme Court defined “prima facie” narrowly, meaning that the court must not analyze evidence or circumstances but must consider the “totality of the case” presented by the state.
Section 43D(5): This section specifies that a person accused of an offense under Chapters IV and VI of the UAPA shall not be released on bail or their own bond if the Public Prosecutor hasn’t been heard on the application for release.
Court’s Opinion: The court may deny bail if it finds reasonable grounds to believe that the accusation against the accused is prima facie true.
Conclusion
The FIR against NewsClick under the UAPA underscores the seriousness of the allegations and the complex legal framework surrounding such cases.
From UPSC perspective, the following things are important :
Prelims level: Lal Bahadur Shastri
Mains level: Not Much
Central Idea
October 2 is a day of double celebration as India remembers the birth anniversaries of two iconic leaders: Mahatma Gandhi, the ‘Father of the Nation,’ and Lal Bahadur Shastri, former Prime Minister.
Both leaders made significant contributions to India’s freedom struggle and early years of nation-building.
Lal Bahadur Shastri: A Man of Humble Origins
[A] Rising from Modest Beginnings
Early Struggles: Born in 1904 in Mughalsarai, Uttar Pradesh, Shastri faced adversity early in life, with his father passing away shortly after his birth.
Simplicity: Raised in a lower-middle-class environment, he possessed only two kurtas and dhotis, symbolizing his humble beginnings.
A Change of Name: In a demonstration of his early social consciousness, Shastri dropped his birthname “Varma.” In 1925, he acquired the title of ‘Shastri’ (one who knows the Shastras) from the Kashi Vidyapeeth in Benaras, adding it to his name.
[B] Resignation and Accountability
A Serious Accident: While serving as the Union Minister for Railways and Transport in 1956, a tragic railway accident in Telangana resulted in the loss of 112 lives.
Owning Responsibility: Deeply affected by the tragedy, Shastri took moral responsibility and tendered his resignation to Prime Minister Nehru. Although Nehru initially did not accept it, Shastri resigned again after another railway accident in Tamil Nadu in November 1956, further solidifying his moral stature.
[C] Championing the Slogan ‘Jai Jawan, Jai Kisan’
A Return to Cabinet: Shastri made a comeback to the Union Cabinet, serving in roles such as Home Minister and Commerce and Industry Minister.
Language Assurance: In response to concerns about Hindi domination, he assured the continued use of English as an official language alongside Hindi.
Economic Challenges: In 1965, faced with economic stagnation and growing food demand, Shastri called upon farmers to increase production, traders to maintain fair prices, and consumers to exercise restraint. He coined the famous slogan, ‘Jai Jawan, Jai Kisan (Hail the soldier, hail the farmer!).’
[D] Leadership during the 1965 India-Pakistan War and Tashkent Agreement
Unforeseen Conflict: The 1965 war with Pakistan erupted as Pakistan launched attacks in Jammu and Kashmir, believing India to be vulnerable after the 1962 war with China.
Firm Response: Shastri approved an Indian counterattack, leading to hostilities on both sides.
Tashkent Declaration: Soviet Premier Aleksey Kosygin invited Shastri and Pakistan President General Ayub Khan to Tashkent, Uzbekistan, where they signed the Tashkent Declaration on January 10, 1966, committing to long-term peace.
Sudden Passing: Tragically, Shastri passed away due to a heart attack the following day in Tashkent, leaving behind speculation about the circumstances. However, available evidence suggests it was a natural death, dispelling doubts of external factors.
From UPSC perspective, the following things are important :
Prelims level: mRNA Vaccines, Nobel Prize
Mains level: Vaccine development for COVID
Central Idea
Katalin Kariko and Drew Weissman, the 2023 medicine Nobel laureates, have earned acclaim for their groundbreaking contributions to the field of mRNA technology.
Their work has transformed our understanding of mRNA’s interaction with the immune system, leading to the rapid development of vaccines, particularly during the Covid-19 pandemic.
What is mRNA?
Messenger RNA (mRNA) is a single-stranded RNA (Ribo Nucleic Acid) molecule that is complementary to one of the DNA strands of a gene.
The mRNA is an RNA version of the gene that leaves the cell nucleus and moves to the cytoplasm where proteins are made.
During protein synthesis, an organelle called a ribosome moves along the mRNA, reads its base sequence, and uses the genetic code to translate each three-base triplet, or codon, into its corresponding amino acid.
What are mRNA vaccines?
Such vaccines make use of the messenger RNA molecules that tell the body’s cells what proteins to build.
The mRNA, in this case, is coded to tell the cells to recreate the spike protein of the coronavirus SARS-CoV-2, which causes Covid-19.
It is the spike protein — which appears as spikes on the surface of the coronavirus — that initiates the process of infection; it allows the virus to penetrate cells, after which it goes on to replicate.
A coronavirus vaccine based on mRNA, once injected into the body, will instruct the body’s cells to create copies of the spike protein.
In turn, this is expected to prompt the immune cells to create antibodies to fight it.
These antibodies will remain in the blood and fight the real virus if and when it infects the human body.
What are other types of vaccines?
(1) Vector vaccine:
In this type of vaccine, genetic material from the COVID-19 virus is placed in a modified version of a different virus (viral vector).
When the viral vector gets into your cells, it delivers genetic material from the COVID-19 virus that gives your cells instructions to make copies of the S protein.
Once your cells display the S proteins on their surfaces, your immune system responds by creating antibodies and defensive white blood cells.
If you later become infected with the COVID-19 virus, the antibodies will fight the virus.
(2) Protein subunit vaccine:
Subunit vaccines include only the parts of a virus that best stimulate your immune system.
This type of COVID-19 vaccine contains harmless S proteins.
Once your immune system recognizes the S proteins, it creates antibodies and defensive white blood cells.
If you later become infected with the COVID-19 virus, the antibodies will fight the virus.
Back2Basics: Ribo Nucleic Acid (RNA)
RNA is an important biological macromolecule that is present in all biological cells.
It is principally involved in the synthesis of proteins, carrying the messenger instructions from DNA, which itself contains the genetic instructions required for the development and maintenance of life.
In some viruses, RNA, rather than DNA, carries genetic information.
The type of RNA dictates the function that this molecule will have within the cell.
Aside from the coding region of messenger RNA (mRNA) molecules that will be translated into proteins, other cellular RNA elements are involved in different processes.
From UPSC perspective, the following things are important :
Prelims level: Karman Line
Mains level: Read the attached story
Central Idea
Boundaries serve a crucial purpose in scientific understanding by providing clarity and distinction to elements that might otherwise merge.
One such significant boundary is the Karman Line, which plays a pivotal role in delineating Earth’s atmosphere from outer space.
What is Karman Line?
The Karman Line is an abstract boundary positioned at an altitude of 100 kilometers above sea level.
Its primary function is to establish the separation between Earth’s atmosphere and the vast expanse of space.
Although not universally accepted by all scientists and space explorers, the majority of countries and space organizations acknowledge this demarcation.
It was formally established in 1960s by the Federation Aeronautique Internationale (FAI), a body responsible for record-keeping.
Crossing the Karman Line designates an individual as an astronaut.
Challenges to the Karman Line’s Significance
Nature rarely conforms to human-made boundaries.
Physically crossing the Karman Line does not result in substantial changes.
In the immediate vicinity, there is minimal difference in air pressure or composition.
Earth’s gravitational force remains influential, and the atmosphere persists beyond this line.
Why is the Karman Line relevant?
Airspace Regulation: The Karman Line primarily serves as a regulator of airspace. It represents an approximate altitude beyond which conventional aircraft cannot operate effectively. Aircraft venturing beyond this threshold require propulsion systems to counteract Earth’s gravitational pull.
Legal Reference: Additionally, the Karman Line acts as a legal benchmark that distinguishes airspace, which nations can claim ownership of, from the realm of outer space. Outer space is governed similarly to international waters, emphasizing the importance of this boundary in legal and governance contexts.
From UPSC perspective, the following things are important :
Prelims level: Project Udbhav
Mains level: Not Much
Central Idea
The Indian Army has launched Project Udbhav, an initiative aimed at rediscovering the profound heritage of statecraft and strategic thinking from ancient Indian texts.
Project Udbhav
Project Udbhav is conducted in collaboration by Indian Army and the United Service Institution of India, a defense think-tank.
The primary goal is to comprehend the depths of indigenous military systems, their evolution, enduring strategies, and the strategic thought processes that have shaped the Indian subcontinent for millennia.
It delves into India’s rich historical narratives in the domains of statecraft and strategic thinking.
It encompasses indigenous military systems, historical texts, regional texts, kingdoms, thematic studies, and Kautilya Studies.
Why such move?
The initiative underscores the Indian Army’s recognition of India’s ancient wisdom in statecraft, strategy, diplomacy, and warfare.
It seeks to establish a connection between historical wisdom and contemporary needs.
Scholarly Outcomes and Ongoing Research
A study to compile Indian stratagems based on ancient texts has been ongoing since 2021.
A book listing 75 aphorisms selected from ancient texts has already been published under the initiative.
The first scholarly outcome is the 2022 publication titled “Paramparik Bhartiya Darshan…Ranniti aur Netriyta ke Shashwat Niyam,” which is meant to be read by all ranks of the Indian Army.
A recent panel discussion included a dialogue on the study of ancient texts ranging from the 4th century BCE to the 8th century CE, with a specific focus on Kautilya, Kamandaka, and the Kural.
From UPSC perspective, the following things are important :
Prelims level: Mahatma Gandhi
Mains level: Read the attached story
Central Idea
Mahatma Gandhi seems a natural choice for the face of Indian currency as the Father of the Nation.
This wasn’t until 1996 that his image became a permanent fixture on legal banknotes issued by the RBI, the nation’s central bank and regulatory authority for the Indian banking system.
1946 photograph featuring Gandhi Ji with Frederick William Pethick-Lawrence
Gandhi’s Portrait on Indian Currency
Photographic Source: The portrait of Gandhi on Indian banknotes is not a caricature but a cut-out from a 1946 photograph featuring him alongside British politician Lord Frederick William Pethick-Lawrence.
Expression Matters: This particular photograph was chosen for its ideal depiction of Gandhi’s smiling visage, and the portrait is a mirrored image of the cut-out.
Unknown Photographers: Interestingly, the identities of the photographer of this image and the person who selected it remain unknown.
Currency Design Process
RBI’s Responsibility: The RBI’s Department of Currency Management is tasked with designing rupee notes, subject to approval from the central bank and the Union government.
Regulatory Framework:Section 25 of the RBI Act, 1934, mandates that the design, form, and material of banknotes must be approved by the central government after considering the central board’s recommendations.
Gandhi’s Debut on Indian Currency
1969 Commemoration: Gandhi made his first appearance on Indian currency in 1969 through a special series issued to commemorate his 100th birth anniversary. These notes, featuring Gandhi alongside the Sevagram Ashram, bore the signature of RBI governor LK Jha.
1987 Inclusion: In October 1987, a series of Rs 500 currency notes featuring Gandhi was introduced.
The Transition to Independent India’s Banknotes
Post-Independence Currency: Initially, after India gained independence in August 1947, the RBI continued to issue notes from the colonial era that depicted King George VI.
Symbol Selection: The government of India introduced new 1-rupee notes in 1949, replacing King George with a representation of the Lion Capital of Ashoka Pillar at Sarnath.
Design Continuity: The subsequent release of banknotes in 1950, in denominations of Rs 2, 5, 10, and 100, featured the Lion Capital watermark, maintaining continuity with earlier designs.
Gandhi’s Permanence on Banknotes
Security Concerns in the 1990s: By the 1990s, the RBI recognized the need for enhanced security features on currency notes due to advancements in reprographic techniques. A human face was deemed less susceptible to forgery than inanimate objects.
Gandhi’s Enduring Appeal: Mahatma Gandhi’s national significance made him the ideal choice. In 1996, the RBI introduced a new ‘Mahatma Gandhi Series’ of banknotes, replacing the previous Ashoka Pillar notes and incorporating advanced security features.
Continuity in 2016: The ‘Mahatma Gandhi New Series’ of banknotes, introduced in 2016, continued to feature Gandhi’s portrait, with the addition of the Swachh Bharat Abhiyan logo and enhanced security elements.
Other Suggestions for Currency Faces
Varied Proposals: Over the years, there have been calls to feature different personalities on banknotes apart from Gandhi.
Lord Ganesha and Goddess Lakshmi: In October 2022, Delhi Chief Minister Arvind Kejriwal appealed to the Prime Minister and the Union government to include images of Lord Ganesha and goddess Lakshmi on currency notes.
Previous Proposals: Suggestions in the past included Noble Laureate Rabindranath Tagore and former President APJ Abdul Kalam. However, the RBI and Indian authorities have consistently upheld Gandhi’s representation, considering him the most fitting embodiment of India’s ethos.
Conclusion
Gandhi’s Enduring Legacy: Mahatma Gandhi’s presence on Indian currency notes stands as a testament to his indelible impact on the nation’s history and values.
Challenges to Change: While various proposals have emerged over the years, the symbolism and significance of Gandhi on banknotes remain unwavering, reflective of his towering stature in India’s collective consciousness.
Prelims Only | Economics | Mains Paper 3: Effects Of Liberalization On The Economy, Changes In Industrial Policy and their effects on Industrial Growth
Note4Students
From UPSC perspective, the following things are important :
Prelims level: Purchasing Managers' Index (PMI)
Mains level: NA
Central Idea
Surge in PMI to 31-month high: The S&P Global India Manufacturing PMI soared to 58.7 in May, the highest level in 31 months.
Service Sector
The service sector, also known as the tertiary sector, includes a wide range of economic activities that are focused on providing intangible goods and services to customers.
Some examples of activities that fall under the service sector include:
Hospitality and tourism: This includes activities such as hotels, restaurants, travel agencies, and tour operators.
Retail and wholesale trade: This includes businesses that buy and sell goods, such as supermarkets, department stores, and online retailers.
Financial services: This includes banks, insurance companies, and investment firms.
Professional and business services: This includes activities such as legal services, accounting, consulting, and advertising.
Information and communication technology: This includes activities such as software development, telecommunications, and data processing.
Healthcare and social assistance: This includes activities such as hospitals, clinics, nursing homes, and social services.
Education and training: This includes activities such as schools, colleges, universities, and vocational training.
Transportation and logistics: This includes activities such as shipping, warehousing, and distribution.
Purchasing Managers’ Index (PMI)
PMI is an indicator of business activity — both in the manufacturing and services sectors.
The S&P Global India Services PMI is compiled by S&P Global from responses to questionnaires sent to a panel of around 400 service sector companies.
It is a survey-based measure that asks the respondents about changes in their perception of some key business variables from the month before.
It is calculated separately for the manufacturing and services sectors and then a composite index is constructed.
How is the PMI derived?
The PMI is derived from a series of qualitative questions.
Executives from a reasonably big sample, running into hundreds of firms, are asked whether key indicators such as output, new orders, business expectations and employment were stronger than the month before and are asked to rate them.
How does one read the PMI?
A figure above 50 denotes expansion in business activity. Anything below 50 denotes contraction.
Higher the difference from this mid-point greater the expansion or contraction. The rate of expansion can also be judged by comparing the PMI with that of the previous month data.
If the figure is higher than the previous month’s then the economy is expanding at a faster rate. If it is lower than the previous month then it is growing at a lower rate.
Key insights of recent trend
Fastest factory order growth: Factory orders rose at the fastest pace since January 2021.
Unprecedented accumulation of inputs: Producers accumulated inputs at an unprecedented pace due to lower costs.
Improvement in operating conditions: The index reflects a substantial improvement in operating conditions, with a significant increase from 57.2 in April.
Strong growth in order books and exports: Order books grew for the 23rd consecutive month, supported by a rise in export deals.
Highest output levels in 28 months: Output levels reached the highest point in 28 months.
Increased hiring: Pressure on capacities led firms to increase hiring, reaching a six-month high.
Reasons behind this rise
Rise in selling prices: Producers raised selling prices at a solid and quicker rate in May, the highest in a year.
Mild input costs but adjusted charges: Input costs remained historically mild, but producers adjusted their charges due to sustained cost increases and a supportive demand environment.
Improved business confidence: Business confidence about growth improved, reaching a five-month high.
Public faith in economy: Factors such as publicity and demand resilience contributed to the optimistic outlook.
From UPSC perspective, the following things are important :
Prelims level: SASTRA Ramanujan Prize
Mains level: Not Much
Central Idea
Ruixiang Zhang, an Assistant Professor at the University of California, Berkeley, USA, is set to receive the prestigious 2023 SASTRA Ramanujan Prize for his exceptional contributions to the field of mathematics.
SASTRA Ramanujan Prize
Establishment
Recognizes outstanding contributions to mathematics
Inspiration
Named in honor of mathematician Srinivasa Ramanujan
Awarded by
Shanmugha Arts, Science, Technology & Research Academy (SASTRA), Kumbakonam, India
Objective
Acknowledges and encourages exceptional achievements in mathematics
Recipient Criteria
Awarded to mathematicians under 32 for significant contributions to mathematics
Selection Process
Based on mathematical work, research contributions, and impact
Previous Recipients
Annual recognition of mathematicians in various mathematical branches
International Recognition
Prominent recognition within the mathematics community
Award Presentation
Presented at an award ceremony, includes a cash prize of $10,000
Encouragement for Young Math
Encourages young mathematicians to pursue research
Committee
Composed of eminent mathematicians and experts from various foreign universities
Significance
Promotes mathematical research and honors exceptional achievements
From UPSC perspective, the following things are important :
Prelims level: Passkeys, Password
Mains level: Not Much
Central Idea
In 1961, MIT computer science professor Fernando Corbato introduced the world to digital passwords, an innovation designed for research purposes. Little did he know the profound societal impact his creation would eventually wield.
Why discuss this?
Passwords have become nearly synonymous with cybersecurity in the 21st century, albeit with an unsavory connotation.
Despite efforts to promote robust password practices, “password” and “123456” continue to dominate the list of common passwords, underscoring the pervasive vulnerability of most accounts.
Passkeys: Need for Change
Ineffectiveness of Passwords: The prevailing authentication method, based on passwords, falls short in ensuring adequate security.
Big Tech Solution: In response to this predicament, major tech companies propose a solution – passkeys.
Understanding Passkeys
Web Authentication Standard: Passkeys are a security feature built on the WebAuthentication (WebAuthn) standard.
Public-Key Cryptography: Passkeys employ public-key cryptography, a potent technique employing a public key (server-side) and a private key (user-side).
Authentication Process: When users log in, a challenge is sent to their device, which utilizes the private key to solve it and respond. The server then validates the response with the public key, all without storing any secrets, enhancing security.
Getting Started with Passkeys
Wide Compatibility: Leading tech companies, including Microsoft, Google, and Apple, have collaborated to make passkeys accessible to most recent phones and PCs.
Operating Systems: Passkeys are available on iOS 16+, iPadOS 16+, macOS Ventura, Android 9+, Windows 10, and Windows 11.
Web Browsers: Passkeys are supported on popular browsers like Chrome, Edge, Safari, and Firefox.
Creating and Using Passkeys
Account Requirement: Users need an account with a provider supporting passkeys, such as Microsoft, Google, or Apple.
Activation Process: To enable passkeys, sign in to a compatible app or website, activate the passkey option, and obtain a unique passkey linked to your account and device.
Usage: Passkeys can be used with biometrics (e.g., Touch ID, Face ID), QR codes, or device verification.
Future of Passwords
Inevitable Evolution: While passkeys offer notable advantages over traditional passwords in terms of security and user-friendliness, they still face challenges related to compatibility and user adoption.
Industry Push: Notably, Google, Apple, and Microsoft are driving the passkey agenda strongly, suggesting that passwords may eventually become obsolete.
Conclusion
A Security Evolution: The emergence of passkeys as an alternative to traditional passwords marks a significant shift in the realm of cybersecurity.
Ongoing Transition: As passkeys gain momentum and garner support from tech giants, they may gradually pave the way for a password-free future, promising enhanced security and user convenience in the digital realm.
From UPSC perspective, the following things are important :
Prelims level: Bhagat Singh
Mains level: Read the attached story
Central Idea
Bhagat Singh, born on September 28, 1907, in the village of Banga (now in Faisalabad, Pakistan), is celebrated as a charismatic revolutionary who sacrificed his life for the cause of Indian independence at the young age of 23.
Five Lesser-Known Aspects of Bhagat Singh’s Life
[1] A Family of Progressive Freedom Fighters
Anti-Colonial Roots: Bhagat Singh’s father, Kishan, and uncle, Ajit, were actively involved in anti-British activities. Kishan faced imprisonment in 1910 for disseminating seditious literature, while Ajit was deported to Mandalay in 1907 for his inflammatory speeches against the Punjab Colonisation Bill. Both played significant roles in the freedom struggle, influencing Bhagat Singh’s upbringing in an anti-colonial environment.
Dissent within the Family: Despite the family’s strong anti-British stance, Bhagat Singh publicly criticized his father for submitting a mercy plea to the Viceroy when he and other revolutionaries faced the gallows, revealing his unwavering commitment to the revolutionary cause.
[2] A Scholar and Writer
Prolific Writer: Bhagat Singh contributed to Urdu and Punjabi newspapers in Amritsar during the 1920s and authored pamphlets and ‘seditious’ literature condemning British colonial rule.
Eclectic Reading: His jail notebooks revealed his interests extended beyond politics, encompassing literature from renowned poets and writers, including Rabindranath Tagore, William Wordsworth, Wajid Ali Shah, Mirza Ghalib, and Iqbal.
[3] An Atheist and Marxist with Anarchist Leanings
Religious Critique: Bhagat Singh was an avowed atheist who criticized religion in his essay ‘Why I am an Atheist’ (1930), rejecting the concept of one true religion. He viewed religious beliefs as divisive and demoralizing.
Inspirations: Bhagat Singh drew inspiration from Marxist thinkers such as Marx, Lenin, Trotsky, and Bakunin. In his final testament, ‘To Young Political Workers’ (1931), he advocated for “social reconstruction on new, i.e., Marxist, basis.” However, he did not fully align with orthodox Marxist views, particularly on authoritarianism.
[4] Support from Jinnah
Jinnah’s Defense: While Mahatma Gandhi refrained from intervening in Bhagat Singh’s trial, MA Jinnah ardently defended him. Jinnah vehemently opposed a proposed Bill that would have allowed trials in absentia, delivering a compelling speech in the Central Assembly in 1929.
Successful Opposition: Jinnah’s staunch stance led to the foiling of the attempt to pass the law, but Bhagat Singh’s trial continued under dubious circumstances, resulting in his death sentence in 1930.
[5] Jawaharlal Nehru’s Support
Nehru’s Critique: Jawaharlal Nehru criticized the British legal process and the injustice inflicted on Bhagat Singh. He admired Bhagat Singh’s courage and self-sacrifice.
Historic Visit: Nehru, along with other leaders like Subhash Chandra Bose, visited Bhagat Singh in prison. Despite their differences in methods, Nehru’s respect for Bhagat Singh remained unwavering.
Congress Resolution: After Bhagat Singh’s execution, Nehru moved an official resolution in a Congress session, condemning the execution and demanding commutation, even though the Congress officially rejected violence as a means of achieving independence.
From UPSC perspective, the following things are important :
Prelims level: Cookies and Digital Privacy
Mains level: Read the attached story
Central Idea
In the online world, digital cookies hold a significant role, contributing to personalization and user convenience.
These unobtrusive lines of code, quietly stored on devices during website visits, shape the online experiences we encounter.
Understanding How Cookies Work
Cookies as Digital Keys: Think of cookies as keys to an exclusive club. Just as a club bouncer recognizes regular patrons, cookies remember your login details on websites, eliminating the need for constant re-authentication.
Enhanced Online Shopping: Websites like Amazon leverage cookies to remember your past interactions, offering tailored product recommendations and an intimate shopping experience.
Persistent Shopping Carts: Online shopping carts, fueled by cookies, ensure your selections remain intact even after you leave the site, simplifying the checkout process.
Personalized Advertising: Platforms like Facebook and Google utilize cookies to track online behaviour, serving ads aligned with your preferences.
Types of Cookies
Session Cookies: Temporary, session cookies function as post-it notes for websites, existing only in your computer’s memory during your browsing session.
Persistent Cookies: Comparable to bookmarks, persistent cookies remain on your device after your browsing session, retaining login information and preferences.
Secure Cookies: Sent over encrypted connections, secure cookies are employed for sensitive data like login credentials.
Third-Party Cookies: Originating from domains other than the visited site, third-party cookies serve tracking and advertising functions, offering both benefits and potential intrusiveness.
Multifaceted Uses of Cookies
Digital ID Cards: Cookies facilitate user authentication, allowing websites to recognize and keep you logged in.
Personalization: They remember your preferences, such as language choices and website themes.
Persistent Shopping Carts: Items added online remain accessible upon your return.
Analytics Data: Cookies enable website owners to gather valuable data about user interactions for improvements and customization.
Targeted Advertising: Advertisers employ cookies to display ads aligning with your interests, enhancing online shopping experiences.
Challenges Associated with Cookies
Privacy Concerns: Cookies can track online behaviour, occasionally infringing upon digital privacy.
Security Risks: Inadequately secured cookies may expose personal information to cybercriminals.
User Consent Era: Privacy regulations necessitate websites to seek user consent before deploying specific cookie types, resulting in pop-ups and prompts.
Third-Party Cookie Debates: Concerns about third-party cookies have led web browsers to limit their usage for user privacy protection.
Data Deluge: The multitude of cookies can potentially overwhelm your browser, causing a sluggish web experience.
Conclusion
Complex yet Sweet: Cookies enhance online experiences but also bring privacy and security challenges. As the digital landscape evolves, so will the use and regulation of cookies.
Analogous to Real Cookies: Just like warm, gooey chocolate chip cookies, digital cookies add a personalized touch to your online adventures, even if they occasionally leave behind a few crumbs.
From UPSC perspective, the following things are important :
Prelims level: Dr. M.S. Swaminathan, Green Revolution
Mains level: Read the attached story
Central Idea
Dr. M.S. Swaminathan, the revered agricultural scientist renowned as the “Father of the Green Revolution” in India, passed away at the age of 98.
His legacy is deeply interwoven with India’s journey towards achieving food security.
Who was Dr. M.S. Swaminathan?
Civil Services to Agriculture: Although Dr. Swaminathan initially cleared the civil services examination, his heart was set on agriculture. His fascination with farming led him to pivot his career towards agricultural research.
The Turning Point:Influenced by the Bengal famine of 1942-43, which he viewed as a consequence of British policies, Dr. Swaminathan chose to study agriculture, particularly genetics and breeding. This decision was instrumental in shaping India’s agricultural landscape.
Timeline of Dr. M.S. Swaminathan’s remarkable life and contributions:
Year
Milestones
1925
Born on August 7, 1925, in Kumbakonam, Madras Presidency.
1940s
Pursued higher education in zoology and later completed a Bachelor of Science degree in Agricultural Science.
1949-1954
Conducted research on combating potato crop parasites during a UNESCO fellowship and earned a PhD from the University of Cambridge.
1954
Specialized in the genus Solanum and started researching fertilizers and high-yielding wheat varieties.
1965-70
Collaborated with Dr. Norman Borlaug to develop high-yield semi-dwarf wheat varieties, pioneering the Green Revolution in India.
1979-1982
Appointed as Director-General of the Indian Council of Agricultural Research and served in various government roles.
1982
Became Director General of the International Rice Research Institute in the Philippines.
1987
Awarded the first World Food Prize for his contributions to agriculture.
2002
Elected as President of the Pugwash Conferences on science and world affairs.
2004
Appointed as the chair of the National Commission on Farmers, which recommended significant reforms for Indian agriculture.
2005
Joined the United Nations Millennium Project’s Hunger Task Force and developed targets to combat poverty and hunger.
2007
Nominated to the Rajya Sabha and presented the Women Farmers’ Entitlements Bill.
2013 onwards
Continued involvement in various initiatives focused on nutrition, internet access, and agricultural institutes worldwide.
Green Revolution: A Game-Changer
Revolutionary Change: Dr. Swaminathan’s pioneering work led to the introduction of high-yielding variety seeds, improved irrigation facilities, and fertilizers to farmers in regions like Punjab, Haryana, and western Uttar Pradesh. This transformative period marked the beginning of India’s Green Revolution.
Impact on Wheat Production: The Green Revolution witnessed a remarkable increase in wheat production. In 1947, India produced about 6 million tonnes of wheat annually, which soared to about 17 million tonnes between 1964 and 1968, significantly enhancing the nation’s self-sufficiency in food production.
Swaminathan’s Contribution to the Green Revolution
Semi-Dwarf Wheat Varieties
Aimed to reduce wheat plant height, preventing lodging while maintaining grain yield.
Collaboration with Norman Borlaug
Collaborated with Norman Borlaug to incorporate dwarfing genes into spring wheat varieties suitable for India.
The Wheat Revolution
A collaborative effort starting in 1963, leading to high-yield semi-dwarf wheat varieties.
Role of HYVs
Focused on developing high-yielding varieties of wheat and rice, crucial for combating drought and famine.
Yield Gap Reduction
Targeted increasing productivity on existing farmland through HYVs, mitigating the threat of famine.
Cytogenetics Expertise
Contributions extended to studying chromosomes (cytogenetics), identifying traits like disease resistance.
Challenges and Ethical Commitments
Unintended Consequences: Despite its successes, the Green Revolution faced criticism for benefiting prosperous farmers and causing ecological issues.
Dr. Swaminathan’s Advocacy: As the head of the National Commission on Farmers, he advocated for fair Minimum Support Prices for farmers and highlighted concerns related to soil fertility, pesticide use, and water management.
Legacy and Recognition
International Accolades
– Ramon Magsaysay Award in 1971
– Albert Einstein World Science Award in 1986
– UNEP Sasakawa Environment Prize in 1994
– UNESCO Gandhi Gold Medal in 1999
– Indira Gandhi Prize for Peace, Disarmament, and Development in 1999
– Franklin D. Roosevelt Four Freedoms Award in 2000
– First World Food Prize Laureate in 1987.
National Awards (India)
– Lal Bahadur Shastri National Award
– Indira Gandhi Prize for Peace, Disarmament, and Development
Civilian Awards (India)
– Padma Shri in 1967
– Padma Bhushan in 1972
– Padma Vibhushan in 1989
Honorary Doctorates
– Received over 80 honorary doctorates from universities worldwide
Civilian Awards (Other Nations)
– Honored with civilian awards from nations like the Philippines, France, Cambodia, China
Fellowships in Scientific Academies
– Elected as a fellow in several scientific academies in Russia, Sweden, United States, United Kingdom, Italy, China, Bangladesh
Back2Basics: Key Terms Explained
Hexaploid Wheat: Also known as “bread wheat,” hexaploid wheat contains six sets of chromosomes and is a globally cultivated cereal crop.
Carbon Fixation: The process by which crops capture carbon dioxide from the atmosphere and convert it into organic compounds, primarily through photosynthesis.
C3 and C4 Pathways: Photosynthetic pathways used by plants for carbon fixation, with C4 being more efficient.
C4 Rice Plant: A type of rice that employs the C4 photosynthetic pathway, which Dr. Swaminathan worked on during his tenure at the International Rice Research Institute (IRRI).
From UPSC perspective, the following things are important :
Prelims level: Current Account Deficit (CAD)
Mains level: Read the attached story
Central Idea
Data released by the Reserve Bank of India (RBI) reveals that India’s Current Account Deficit (CAD) expanded significantly to $9.2 billion, equivalent to 1.1% of GDP, during the April-June quarter.
This represents a substantial increase from the preceding three months when it stood at $1.3 billion, or 0.2% of GDP.
Contrasting with the year-earlier quarter of fiscal 2022-23, where the CAD was $17.9 billion (2.1% of GDP), the current scenario reflects evolving economic dynamics.
What is Current Account Deficit (CAD)?
A current account is a key component of balance of payments, which is the account of transactions or exchanges made between entities in a country and the rest of the world.
This includes a nation’s net trade in products and services, its net earnings on cross border investments including interest and dividends, and its net transfer payments such as remittances and foreign aid.
A CAD arises when the value of goods and services imported exceeds the value of exports, while the trade balance refers to the net balance of export and import of goods or merchandise trade.
Components of Current Account
Current Account Deficit (CAD) = Trade Deficit + Net Income + Net Transfers
(1) Trade Deficit
Trade Deficit = Imports – Exports
A Country is said to have a trade deficit when it imports more goods and services than it exports.
Trade deficit is an economic measure of a negative balance of trade in which a country’s imports exceeds its exports.
A trade deficit represents an outflow of domestic currency to foreign markets.
(2) Net Income
Net Income = Income Earned by MNCs from their investments in India.
When foreign investment income exceeds the savings of the country’s residents, then the country has net income deficit.
This foreign investment can help a country’s economy grow. But if foreign investors worry they won’t get a return in a reasonable amount of time, they will cut off funding.
Net income is measured by the following things:
Payments made to foreigners in the form of dividends of domestic stocks.
Interest payments on bonds.
Wages paid to foreigners working in the country.
(3) Net Transfers
In Net Transfers, foreign residents send back money to their home countries. It also includes government grants to foreigners.
It Includes Remittances, Gifts, Donation etc
How does Current Account Transaction takes place?
While understanding the Current Account Deficit in detail, it is important to understand what the current account transactions are.
Current account transactions are transactions that require foreign currency.
Following transactions with from which component these transactions belong to :
Component 2 : Interest on loans to other countries and Net income from investments in other countries
Component 3 : Remittances for living expenses of parents, spouse and children residing abroad, and Expenses in connection with Foreign travel, Education and Medical care of parents, spouse and children
What are the reasons for the current account deficit?
Intensifying geopolitical tensions and supply chain disruptions leading to crude oil and commodity prices soaring globally have been exerting upward pressure on the import bill.
A rise in prices of coal, natural gas, fertilizers, and edible oils have added to the pressure on trade deficit.
However, with global demand picking up, merchandise exports have also been rising.
How will a large CAD affect the economy?
A large CAD will result in the demand for foreign currency rising, thus leading to depreciation of the home currency.
Nations balance CAD by attracting capital inflows and running a surplus in capital accounts through increased foreign direct investments (FDI).
However, worsening CAD will put pressure on the inflow under the capital account.
Nevertheless, if an increase in the import bill is because of imports for technological upgradation it would help in long-term development.
From UPSC perspective, the following things are important :
Prelims level: Brain Cell Death
Mains level: NA
Central Idea
Scientists have long sought medical treatments for Alzheimer’s disease but have faced limited success.
The approval of the drug Lecanemab by the US FDA in 2023 has brought renewed optimism, as it shows promise in slowing the progression of Alzheimer’s in its early stages.
How brain cells die?
Revealing the Connection: Researchers from Belgium and UK have shed light on the connection between abnormal proteins (amyloid and tau) and a process called necroptosis, which leads to cell death.
Cell Death Mechanism: Necroptosis is a form of cell death typically triggered by immune responses to infection or inflammation, serving to eliminate damaged cells.
Inflammatory Response: The study suggests that in Alzheimer’s patients, amyloid protein entering brain neurons triggers inflammation and alters the internal chemistry of the cells. Amyloid forms plaques, while tau forms tangles.
MEG3 Molecule: When amyloid and tau processes occur simultaneously, brain cells produce a molecule called MEG3, which appears to be linked to cell death.
Blocking MEG3: The researchers experimented by blocking the MEG3 molecule and found that brain cells survived when this molecule was inhibited.
Experimental Approach: Human brain cells were transplanted into genetically modified mice that produced significant amyloid, allowing researchers to make these groundbreaking observations.
Hope for Alzheimer’s Treatment
Historic Discovery: Researchers highlighted that this discovery marks the first time, after several decades of speculation, that scientists have found a plausible explanation for cell death in Alzheimer’s patients.
Path to New Medicines: Some are optimistic that their findings will pave the way for new medical treatments targeting Alzheimer’s.
Lecanemab’s Target: Lecanemab, a drug that specifically targets the amyloid protein, aligns with the potential to block the MEG3 molecule, offering the prospect of halting brain cell death in Alzheimer’s disease.
Understanding Brain’s Complex Processes
Brain’s Enigma: The development of Alzheimer’s drugs has been hampered by a lack of understanding of the disease’s mechanisms within the brain.
Amyloid and Tau: Amyloid and tau proteins are known to accumulate in the brain of Alzheimer’s patients, but their precise roles and how they contribute to cell death remained unclear.
Alzheimer’s Global Challenge
Widespread Impact: Approximately 55 million people worldwide are affected by various forms of dementia, with Alzheimer’s being one of the prominent diseases.
Disproportionate Burden: Two-thirds of dementia cases are found in developing countries, and with the aging global population, projections indicate that the number of dementia cases could reach 139 million by 2050, with China, India, Latin America, and Sub-Saharan Africa facing the greatest challenges.
From UPSC perspective, the following things are important :
Prelims level: Norman Borlaug
Mains level: Not Much
Central Idea
Swati Nayak, a scientist at the International Rice Research Institute (IRRI) South Asia Regional Centre (ISARC), has been honoured with the Borlaug Field Award by the World Food Prize.
She is renowned for her groundbreaking research in developing climate-resilient and nutrition-rich rice varieties.
Contributions of Dr. Swati Nayak
Extensive Testing
Organized over 10,000 tests, evaluating 500+ seed varieties.
Climate Resilient Varieties
Developed high-yield, biofortified, and nutritionally enhanced rice varieties.
Small Holder Farmers’ Focus
Innovated inbred rice varieties to benefit smallholders.
Collaborative Efforts
Collaborated with national and international organizations.
Addressing Lifestyle Diseases
Advocates for low glycemic index, micronutrient-enriched rice varieties.
Supporting Better Quality
Empowers farmers to produce high-quality seeds for better market positioning.
Biofortified Foodgrains
Promotes affordable bio-fortified rice as a nutritional solution.
Who was Norman Borlaug (1914-2009)?
Contributions
Developed high-yielding, disease-resistant wheat varieties, “Father of the Green Revolution”
Impact
Saved over a billion people from hunger, significantly increased global wheat production
Awards and Honors
Nobel Peace Prize, Presidential Medal of Freedom, Congressional Gold Medal, Padma Vibhushan, and more
Legacy
Laid the foundation for modern agricultural practices, inspired efforts to address global food security
About Borlaug Field Award
Endowed by
Rockefeller Foundation
Presented by
World Food Prize Foundation
Purpose
Recognize outstanding contributions in international agriculture and food production by individuals under 40.
Award Amount
$10,000
Inspiration
Honors Dr. Norman Borlaug’s dedication to fighting global hunger and poverty during his early career in Mexico.
However, it excludes 19 police stations in seven districts of the Imphal Valley.
Why such move?
Gradual Withdrawal: Since 2022, AFSPA has been progressively withdrawn from the valley districts, primarily inhabited by the Meitei community.
Resurgence of Insurgent Groups: There has been a resurgence of insurgent groups, largely operating from Myanmar, advocating for Manipur’s secession from India.
Ethnic Violence: Ethnic violence between the Meitei and tribal Kuki communities has claimed at least 175 lives since May 3, making it the deadliest conflict in Manipur since 1999.
AFSPA History in Manipur
Decades of AFSPA: AFSPA has been applicable in Manipur since 1981, impacting both the valley and hill districts.
Gradual Withdrawal: The Act’s provisions have been gradually withdrawn from the valley districts over the years, signifying evolving security dynamics.
What is Armed Forces (Special Powers) Act, 1958?
Armed Forces Special Powers Act, to put it simply, gives armed forces the power to maintain public order in “disturbed areas.”
AFSPA gives armed forces the authority use force or even open fire after giving due warning if they feel a person is in contravention of the law.
The Act further provides that if “reasonable suspicion exists”, the armed forces can also arrest a person without a warrant; enter or search premises without a warrant; and ban the possession of firearms.
A Backgrounder
The AFSPA, 1958 came into force in the context of insurgency in the North-eastern States decades ago.
It provides “special power” to the Armed Forces applies to the Army, the Air Force and the Central Paramilitary forces etc.
It has been long contested debate whether the “special powers” granted under AFSPA gives total immunity to the armed forces for any action taken by them.
What are the Special Powers?
Power to use force: including opening fire, even to the extent of causing death if prohibitory orders banning assembly of five or more persons or carrying arms and weapons, etc are in force in the disturbed area;
Power to destroy structures: used as hide-outs, training camps, or as a place from which attacks are or likely to be launched, etc;
Power to arrest: without warrant and to use force for the purpose;
Power to enter and search premises: without a warrant to make arrest or recovery of hostages, arms and ammunition and stolen property etc.
Who can declare/notify such areas?
The Central Government or the Governor of the State or administrator of the Union Territory can declare the whole or part of the State or Union Territory as a disturbed area.
From UPSC perspective, the following things are important :
Prelims level: Government Bonds
Mains level: Not Much
Central Idea
India is set to make history by issuing it’s first-ever 50-year government bonds and 30-year green bonds.
These offerings have piqued the interest of insurance companies and provident funds seeking avenues to invest their long-term funds.
Why such move?
Ambitious Target: India aims to mobilize ₹6.55 trillion ($78.73 billion) through bond sales from October to March. This includes a significant ₹300 billion allocation to the 50-year security, marking the central government’s maiden auction of such bonds.
Natural Demand: Long-term investors, particularly insurers, find the 50-year bonds appealing due to their alignment with asset-liability management requirements.
Government Bonds in India
Government Bonds in India, fall under the broad category of Government Securities (G-Sec) and are primarily long term investment tools issued for periods ranging from 5 to 40 years.
It can be issued by both Central and State governments of India. Government bonds issued by State Governments are also called State Development Loans (SDLs).
The GB interest rates, also called a coupon, can either be fixed or floating and disbursed on a semi-annual basis.
In most cases, GOI issues bonds at a fixed coupon rate in the market.
Types:
Fixed-Rate Bonds
Offer a fixed interest rate throughout the investment tenure, providing clarity with the coupon rate mentioned.
Floating Rate Bonds (FRBs)
Subject to periodic interest rate adjustments, often with a base rate and fixed spread determined through auctions.
Sovereign Gold Bonds (SGBs)
Allow investments in gold without physical possession, with tax-exempt interest and prices linked to gold’s value.
Inflation-Indexed Bonds
Adjust both principal and interest based on inflation, using indices like CPI or WPI, tailored for retail investors.
7.75% GOI Savings Bond
Features a 7.75% interest rate and available to individuals, minors with legal guardians, and Hindu Undivided Families.
Bonds with Call/Put Option
Permit either issuer or investor to buy back or sell bonds, respectively, on specified dates, after 5 years from issuance.
Zero-Coupon Bonds
Generate earnings from the difference between issuance and redemption prices, as they do not provide interest income.
Advantages offered
Sovereign Guarantee: Government bonds are backed by the government’s commitment, offering stability and assured returns.
Inflation-Adjusted: Inflation-indexed bonds protect investors from rising prices, maintaining the real value of their investments.
Regular Income: Government bonds provide semi-annual interest disbursements, offering investors a source of regular income.
Limitations
Lower Income: Apart from 7.75% GOI Savings Bonds, government bonds typically offer lower interest rates.
Lack of Relevance: With maturity tenures ranging from 5 to 40 years, government bonds may lose relevance over time, particularly in the face of inflation.
From UPSC perspective, the following things are important :
Prelims level: Dadasaheb Phalke Award
Mains level: NA
Central Idea
Union Information and Broadcasting Minister announced that veteran actor Waheeda Rehman would be given the Dadasaheb Phalke Lifetime Achievement Award for 2021, honouring her stellar contribution to Indian cinema.
About Dadasaheb Phalke Award
Purpose
Highest honor in Indian cinema for outstanding contributions to its growth and development.
Inception
Instituted by the Indian government in 1969.
Named After
Dhundiraj Govind Phalke, “Father of Indian Cinema.”
By the President of India in the presence of key film industry representatives and officials.
First Recipient
Devika Rani Roerich (1969).
Who was Dadasaheb Phalke?
Early Life: Dhundiraj Govind Phalke, born in 1870 in Trimbak, Maharashtra, had a diverse career. He initially studied engineering and sculpture and later developed a fascination for motion pictures after watching the 1906 silent film ‘The Life of Christ.’
Varied Pursuits: Before entering the world of cinema, Phalke worked as a photographer, owned a printing press, and even collaborated with the renowned painter Raja Ravi Varma.
Filmmaking Pioneer: In 1913, Phalke scripted, produced, and directed India’s inaugural feature film, the silent masterpiece ‘Raja Harishchandra.’ This groundbreaking film’s commercial success marked the beginning of Phalke’s prolific career in which he created 95 more films and 26 short films over the next 19 years.
Father of Indian Cinema: Dhundiraj Govind Phalke is hailed as the “Father of Indian Cinema” for his pioneering contributions to the country’s film industry.
From UPSC perspective, the following things are important :
Prelims level: Balsams
Mains level: NA
Central Idea
The genus Impatiens, locally known as Kasithumba and Onappovu, is currently enchanting tourists with its vibrant pink blooms in Munnar.
What are Balsams?
Distinctive Feature: Balsams are commonly referred to as ‘touch-me-not’ due to the unique behavior of their mature seeds bursting open upon touch and distributing seeds.
Sign of Active Micro-Climate: Botanists suggest that the extensive flowering of balsams in Munnar indicates the continued activity of the microclimate in this hill station.
Indian Balsam Species: India hosts a total of 220 balsam species, with a significant presence of 135 species in the southern Western Ghats.
Balsam Paradise: Idukki, particularly the high ranges around Anamudi, is renowned for its rich diversity of wild balsams. Scientists often term the district as a ‘balsam paradise.’
Conservation Efforts
Balsams in Munnar: Munnar boasts 46 balsam species, extending from Munnar to Chinnar and Bison Valley.
Protection in National Park: The Eravikulam National Park alone is home to over 40 wild balsam species, with the Forest Department ensuring their protection.
Unparalleled Diversity: Prasad G, working plan officer, highlights that Munnar’s altitude has unveiled 46 balsam species, a level of diversity unmatched elsewhere in the world.
Indicator Species: Balsams play a crucial role as indicator species for climate change. Any alterations in the climate of a region are often reflected in the population of these plants.
From UPSC perspective, the following things are important :
Prelims level: Angel Tax
Mains level: Read the attached story
Central Idea
The government has introduced revisions to the angel tax provisions that were initially implemented in this year’s Budget, primarily targeting investments by non-resident investors into startups at a premium over their fair market value.
Key changes introduced
The Central Board of Direct Taxes issued a notification, amending Rule 11UA under the Income Tax Act, incorporating changes to the draft norms released earlier.
Five distinct valuation methods for shares have been introduced, accompanied by a 10% tolerance allowance for deviations from accepted share valuations.
These changes aim to provide some relief to prospective foreign investors interested in Indian startups.
Angel Investment
An angel investor is an individual who provides financial backing to early-stage startups or entrepreneurs, typically in exchange for equity in the company.
Angel investors are typically high-net-worth individuals who invest their own personal funds, rather than investing on behalf of a firm or institution.
Features of Angel Investing:
Early-stage funding
Equity investment
High-risk, high-reward
Active involvement
Personal investment
Flexible terms
Shorter investment horizon
What is Angel Tax?
Referred to as Angel Tax, this rule is described in Section 56(2)(viib) of the Income Tax Act, 1961.
Essentially it’s a tax on capital receipts, unique to India in the global context.
This clause was inserted into the act in 2012 to prevent laundering of black money, round-tripping via investments with a large premium into unlisted companies.
The tax covers investment in any private business entity, but only in 2016 was it applied to startups.
Why was angel tax introduced?
The complicated nature of VC fundraising with offshore entities, multiple limited partners and blind pools is contentious.
There has been some element of money laundering or round-tripping under guise.
Details of its levy
The Angel Tax is being levied on startups at 9% on net investments in excess of the fair market value.
For angel investors, the amount of investment that exceeds the fair market value can be claimed for a 100% tax exemption.
However, the investor must have a net worth of ₹2 crores or an income of more than ₹25 Lakh in the past 3 fiscal years.
