7 August 2024, The Indian EXPRESS
Rollback after criticism: Indexation benefit on sale of property before Budget brought back
Page no- 1
GS3- Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment; Government Budgeting
- Following outrage and concerns from certain quarters over the Budget proposal to remove indexation benefits on long-term capital gains (LTCG), the government Tuesday decided to offer taxpayers a choice to pay 20 per cent LTCG tax with indexation benefit on sale of property acquired before July 23, 2024.
- The other option introduced in the Budget to pay the tax on LTCG at a reduced rate of 12.5 per cent without indexation will also be available to taxpayers, as per the list of amendments moved by the government in the Finance Bill.
- Taxpayers can pay the lower tax amount of the two options.
Sweeping terms in draft broadcast Bill raise red flags on free speech
Page no- 1
GS2- Government policies and interventions for development in various sectors and issues arising out of their design and implementation
- Expanding its remit from OTT content and digital news to include social media accounts and online video creators; defining a “digital news broadcaster” in sweeping terms; requiring prior registration with the government to prescribing standards for content evaluation, the latest draft of the Broadcasting Services (Regulation) Bill, 2024, raises several questions on the freedom of speech and expression and the government’s powers to regulate it.
- The Bill, which seeks to replace the 1995 Cable Television Networks (Regulation) Act, deals with television broadcasting.
- In November last year, the Ministry of Information and Broadcasting invited comments on a new draft Bill that consolidates the legal framework for the broadcasting sector and extends it to OTT content and digital news and current affairs as well. However, it is learnt that the Ministry has revised the draft Bill, significantly altering its focus.
President in Fiji: ‘India to push for climate justice for ocean states’
Page no- 9
GS2- India and its bilateral relations
- As a voice of the Global South, India will push the developed countries for climate justice for Fiji and other ocean states, said President Droupadi Murmu during her address to the Fijian parliament on Tuesday.
- “As India emerges strongly on the global stage, we stand ready to partner with Fiji, according to your priorities, to build a stronger, resilient, and more prosperous nation,” she said.
Government spent 14% of funds under Ayushman Bharat on those over 70 years
Page no- 14
GS2- Issues relating to development and management of Social Sector
- Beneficiaries aged 70 years and above made up over 12 per cent of all admissions under the government’s flagship Ayushman Bharat health insurance scheme, with their treatment costs accounting for nearly 14 per cent of the total expenditure till January, according to data presented in Parliament by the Union Ministry of Health and Family Welfare.
- The data shows that of the nearly 6.2 crore approved hospital admissions till January 2024, as many as 57.5 lakh were senior citizens aged 70 years and more.
- The government’s expenditure for treatments under the scheme reached a staggering Rs 79,200 crore over the last six years till January 2024, of which Rs 9,878.5 crore was allocated to treat those who are 70 years and over.
A Widening War
Page no- 16
GS2- Effect of policies and politics of developed and developing countries on India’s interests
- The back to back assassinations of three top leaders of Iran’s proxy forces in the Middle East — two of Hamas and one of Hezbollah — are pushing the Middle East into a wider war.
- As Tehran promises to retaliate against Israel, the US is moving additional military forces into the region.
- Oil prices are beginning to rise amid expectations of an imminent military conflict.
- More than nine months after a Hamas terror attack on Israel, and Tel Aviv’s continuing campaign of retribution that has killed thousands in Gaza, there is no sign of a pause, let alone an end to the current round of blood-letting in the Middle East.
- Iran-backed rebels have reportedly attacked a US base in Iraq and American forces are bracing for more such attacks.
- What stands out for observers of the volatile region is the lack of any major political outcomes from renewed conflict.
A fighting chance
Page no- 16
GS2- Effect of policies and politics of developed and developing countries on India’s interests
- The momentous ending of Sheikh Hasina’s rule is both a moment of opportunity and risk.
- In order to understand it, we need to place Bangladesh’s experience in the broader context of democratic institutionalisation.
- But for India it is vital to not view Bangladesh within the frame of our own narcissism.
- This revolution belongs to the people of Bangladesh, and it is a moment in their often fraught quest to make their own destiny on their own terms.
Realpolitik can be green
Page no- 17
GS3- Conservation
- Reflecting on India’s green energy transition, three thoughts come to the fore.
- One, it is not a uniform national transition.
- There are several, varying state-led transitions.
- Two, there is tension between the drivers of this transition and our trade policy.
- Three, there is an imbalance between the realpolitik of governance and the ethical imperative of sustainable development.
- What should be the actions that flow from these thoughts is beyond the scope of this article.
Apparel exporters see global orders partly shifting to India amid crisis in Bangladesh
Page no- 23
GS3- Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment
- Global textile orders could partly shift to India as the political turmoil in Bangladesh has brought economic activity in that country’s key sectors such as the garment industry to a standstill, Indian garment and apparel exporters said Tuesday.
- Given Bangladesh’s prominent position in the global clothing industry, the Indian apparel industry might have to step in, at least temporarily, to fill the gap for global buyers.
- This comes after the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), fearing vandalism, reportedly asked all factory owners to keep their units shut until further notice.
- Violence in Bangladesh has reportedly left at least 300 dead amid countrywide curfews and curbs on mobile internet.
Why an Indian start-up lobby has filed an antitrust complaint against Google
Page no- 23
GS3- Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment
- An Indian start-up lobby group has filed a complaint with the Competition Commission of India (CCI) against Google’s alleged anti-competitive practices in the online advertising market, marking the tense relationship and increasing tussle between the country’s new-age firms and tech giants.
- The Alliance of Digital India Foundation (ADIF), in a statement, said that Google’s dominance over major online platforms and its reliance on advertising for the majority of its revenue hinders competition and negatively impacts Indian businesses.
Veg thali prices rise by 11% in July
Page no- 23
GS3- Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment
- The cost of representative home-cooked vegetarian and non-vegetarian thalis increased by 11 per cent and 6 per cent, respectively, on a month-on-month basis in July 2024, Crisl MI&A Research said.
- Crisil said 7 per cent out of the 11 per cent rise in the cost of the veg thali can be attributed to only tomato prices, which have zoomed 55 per cent on-month from Rs 42 per kg in June to Rs 66 per kg in July.
- This was mainly due to high temperatures impacting the summer crop in key states of Karnataka and Andhra Pradesh.
Bill seeks to expand NDMA role, fails to strengthen its status
Page no- 25
GS3- Disaster and disaster management
- Last week, the government introduced a Bill in Parliament seeking to amend the Disaster Management Act, 2005.
- It proposes to make important changes in the Act, aimed mainly at improving the operational efficiencies in responding to a natural disaster.
- The Bill seeks to significantly expand the role and responsibilities of the National Disaster Management Authority (NDMA), especially in guiding state governments and organs of the Centre in dealing with disasters.
Yen Carry Trade
Page no- 25
Prelims Syllabus- Economy and Current Affairs
- On Monday (August 5), major stock markets across the world experienced their sharpest decline in decades.
- While there was no paucity of reasons for jittery investor sentiment — for instance, the US economy is facing increasing odds of an economic recession or rising geopolitical tensions due to growing turmoil in West Asia — there was a new global trigger: The unwinding of the yen carry trade.
GST on health insurance
Page no- 25
GS3- Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment
- Insurance companies have jacked up premiums on health and life insurance policies this year which, together with the 18% Goods and Services Tax (GST), has made insurance less affordable for many sections of the country’s population.
- Opposition leaders including Leader of Opposition in Lok Sabha Rahul Gandhi protested at Parliament’s Makar Dwar on Tuesday, demanding the withdrawal of GST on life insurance and health insurance premiums.
- Trinamool Congress MP Derek O’Brien had raised the issue in Rajya Sabha on Monday, and his party chief Mamata Banerjee had threatened to “hit the streets” last week to protest against the “anti-people” tax.
In water-starved Punjab, plans for a new irrigation canal raise several concerns
Page no- 25
GS3- Infrastructure
- Almost seven decades after the construction of the Bhakra Main Line (BML), Sirhind Feeder, and the Bist Doab canals in the mid-1950s, Punjab wants to spend Rs 2,300 crore on a new irrigation channel, running roughly 150 km in a north-south direction in the state’s south-western corner.
- The Punjab government faces a serious funds crunch, and some experts have raised questions over the technical viability of the proposed project. What is this canal that Punjab wants to build, and why?
