Daily Five Feb 16 2017

Daily Five Feb 16 2017


Date: 16/02/2017
1. Today’s Tips/Tricks
2. Today’s Prelims Questions
3. Today’s QuickBytes
4. Today’s RAG topics
5. Today’s Mains Questions
All the below notes will also be updated in the ARISE IAS RAG List for systematic revision.
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1. Today’s Tips/Tricks

For expert analysis of government bills and acts refer  http://www.prsindia.org/


2. Today’s Prelims Questions

#Prelims_Q
1: Which of the following Fundamental Rights under the Constitution is guaranteed only to the citizens of India and not to foreigners living in India?
A. Free practice of religion
B. Freedom of speech and expression
C. Equality before law
D. Right to elementary education

2. which of the following Indian states have adopted the FISCAL RESPONSIBILITY LEGISLATION before the central government

A) karnataka
B) kerala
C) uttar pradesh
D) all the above
Answers:
1. B
http://www.jagranjosh.com/general-knowledge/fundamental-rights-of-foreigners-in-india-1474282242-1

2. D
Source: Economic Survey



3. Today’s QuickBytes (Use these quotes/figures/facts in your Mains Exam)

Steps taken by government to curb Black Money

    •  *27 MAY 2014 :* First cabinet decision – Formation of SIT to fight black money & corruption (which had been delayed by Congress since 4 years despite Supreme Court’s orders)

 

    • *14 FEB 2015 :* Online auction of coal blocks started by the government after SC cancels all the coal block allocations made by UPA. While the UPA did a scam of Rs 1,86,000 crore in coal block allocation, online auction has yielded more than Rs 5,00,000 crore and the allocation is not yet complete.

 

    •  *11 MAY 2016 :* Mauritius route of black money laundering put to an end. The Mauritius route accounted for 35% of overall black money investment in India. The bilateral treaty signed between India and Mauritius ended this practice.

 

    • *5 SEP 2016 :* PM Modi personally raises the issue of ending safe tax havens in Europe and other countries in the most important G20 meeting. All the major countries of G20 agreed to wage a war on money laundering, black money and terror funding on the call of PM Modi.

 

    • *1 NOV 2016 :* BENAAMI (Transactions) Act amended and notified after 18 years. The previous governments had NOT notified the benaami act, and hence was not under effect (The reasons of not being implemented can well be speculated !)

 

    • *8 NOV 2016 :* Currency notes of Rs 500 and Rs 1000 banned. A historical move which broke the backbone of counterfeit currency, terror funding, naxalism, human trafficking and black money used to fund these.

 

    •  *22 NOV 2016 :* Switzerland signs the treaty to share all real time financial transaction details with India. This means from September 2019, NO ONE can store any illegal money in Swiss banks, as Switzerland will provide real time information of everyone depositing any amount.

 

    • *2 DEC 2016 :* Rs 65,000 crore of unaccounted money by 64,200 people declared under the Voluntary Income Disclosure, from which government of India earned Rs 29,000 crore in form of taxes.

 

    •  *30 DEC 2016 :* Singapore route of black money routing blocked, as India and Singapore sign the double taxation treaty….

 

    • *30 JAN 2017 :* 18 Lakh people who have made deposits of “unaccounted sum” post demonetization identified. Income Tax department sends notice to them, asking them to explain the unaccounted deposits, failing which action will be taken.

 

  •  *1 FEB 2017 :* Political funding to the parties by cash decreased from Rs 20,000 to Rs 2,000.

*So,*

1. Rerouting of black money via Mauritius, Cyprus and Singapore channel – *Blocked*

2. Real time transaction data with Switzerland and other European countries – *Done*

3. Benaami Transaction law – *Started*

4. Political funding clean-up – *Started*


4. Today’s RAG topics

1. Fiscal activism: Link SOURCE
2. Air pollution: Link SOURCE


5. Today’s Mains Questions

1. Is the fiscal activism embraced by advanced economies relevant for India? Discuss
2. What are the causes of alarming air pollution in Indian cities? Suggest measures to mitigate the same.

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