Category: SSC

In this article, we will discuss India’s Current Foreign Policy. So, let’s get started.

India’s Current Foreign Policy

• Sammaan: Respect for every nation’s sovereignty
• Samvaad: Greater engagement with all countries.
• Suraksha: Security; India is a responsible power-neither aggression nor adventurism exists in its DNA
• Samriddhi: Shared prosperity
• Sanskriti and Sabhyata: The persuasive reach of cultural values anchored in a philosophy which believes that the world is a family.

In this article, we will discuss India’s New Multi-Alignment Approach. So, let’s get started.

India’s New Multi-Alignment Approach

• Multi-Alignment: It is a series of parallel relationships that strengthen multilateral partnerships and seek a common approach among the grouping towards security, economic equity and the elimination of existential dangers like terrorism. Below are a few forums where India’s Multi-Alignment Approach is clearly evident:
• International North-South Transport Corridor (INSTC): A 7,200-kilometer multi-modal transport corridor that combines road, rail and maritime routes, connecting Saint Petersburg (Russia) to Mumbai.
• International North-South Transport Corridor offers a platform for India to collaborate with Russia, Iran, and the Central Asian Republics towards fostering a Eurasian Free Trade Area.
• Once fully operational, INSTC is expected to reduce freight costs by 30% and the journey time by 40% compared to the deep-sea route via the Suez Canal.
• BRICS: BRICS is an acronym for the grouping of the world’s leading emerging economies, namely Brazil, Russia, India, China and South Africa, seeks for economic, political and security cooperation including people-to-people exchange through a well-planned mechanism.
• India was instrumental in co-founding the New Development Bank (NDB), a new multilateral initiative expected to rival the World Bank.
• Shanghai Cooperation Organization: SCO is a Eurasian political, economic and military organization aiming to maintain peace, security and stability in the region.
• Membership: Kazakhstan, China, Kyrgyzstan, Russia, Tajikistan, Uzbekistan, India and Pakistan.
• Iran and Belarus are likely to be the two newest additions.
• From SCO, China and Russia are looking to counter the West, especially the expansion of NATO (North Atlantic Treaty Organization).
• Quadrilateral Security Dialogue: QUAD is the informal strategic dialogue between India, USA, Japan and Australia with a shared objective to ensure and support a “free, open and prosperous” Indo-Pacific region and counter China.

In this article, we will discuss History of Non-Alignment in India. So, let’s get started.

History of Non-Alignment in India

• The Non-Aligned Movement (NAM) was created and founded during the collapse of the colonial system and the independence struggles of the peoples of Africa, Asia, Latin America and other regions of the world and at the height of the Cold War.
• In 1960, it was at the fifteenth ordinary session of the United Nations General Assembly that the Movement of Non-Aligned Countries was created, resulting in the admission of 17 new African and Asian members.
• The then Prime Minister Jawahar Lal Nehru also promoted the concept of ‘non-alignment’, or equidistance of the ‘third world’ from the two superpowers of the Cold War. These concepts found their way to the Bandung Conference of 1955.
• The primary objectives of the non-aligned countries focused on the support of self-determination, national independence and the sovereignty and territorial integrity of States, non-adherence to multilateral military pacts.
• By the end of the 1980s, the Movement was facing the great challenge brought about by the collapse of the socialist block. The end of the clash between the two antagonistic blocks that was the reason for its existence, name and essence was seen by some as the beginning of the end for the Movement of Non-Aligned Countries.

In this article, we will discuss Recent Amendments in PMLA. So, let’s get started.

Recent Amendments in PMLA

• Clarification about the Position of Proceeds of Crime: Proceeds of the Crime not only includes the property derived from scheduled offence but would also include any other property derived or obtained indulging into any criminal activity relate-able or similar to the scheduled offence.
• Money Laundering Redefined: Money Laundering was not an independent crime rather depended on another crime, known as the predicate offence or scheduled offence.
• The amendment seeks to treat money laundering as a stand-alone crime.
• Under Section 3 of PMLA, the person shall be accused of money laundering if in any manner that person is directly or indirectly involved in the proceeds of the crime.
• Concealment
• Possession
• Acquisition
• Use or projecting as untainted property
• Claiming as untainted property
• Continuing Nature of Offence: This amendment further mentioned that the person will be considered to be involved in the offence of money laundering till the time that person is getting the fruits of activities related to money laundering as this offence is of a continuing nature.

In this article, we will discuss PMLA 2002. So, let’s get started.

Prevention of Money Laundering Act (PMLA), 2002

• Money Laundering refers to the conversion or misrepresentation of money which has been illegally obtained by unlawful sources and methods.
• It is a criminal offence in India and charges in this instance refer to statutory provisions of the Prevention of Money Laundering Act, 2002.
• The PMLA was enacted in response to India’s global commitment ( Vienna Convention) to combat the menace of money laundering. These include:
• United Nations Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances 1988
• Basle Statement of Principles, 1989
• Forty Recommendations of the Financial Action Task Force on Money Laundering, 1990
• Political Declaration and Global Program of Action adopted by the United Nations General Assembly in 1990
• The PMLA is applicable to all persons which include individuals, companies, firms, partnership firms, associations of persons or incorporations and any agency, office or branch owned or controlled by any of the above-mentioned persons.

In this article, we will discuss IIP. So, let’s get started.

Index of Industrial Production (IIP)

• It is an indicator that measures the changes in the volume of production of industrial products during a given period. Base Year- 2011-2012.
• It is compiled and published monthly by the National Statistical Office, Ministry of Statistics and Programme Implementation.
• It is a composite indicator that measures the growth rate of industry groups classified under:
• Broad sectors: Mining, Manufacturing, and Electricity.
• Use-Based Sectors: Basic Goods, Capital Goods, and Intermediate Goods.
• Index of Eight Core Industries (ICI): This is an index of the eight most fundamental industrial sectors of the Indian economy and comprises 40.27% of the weight in IIP.
• The monthly Index of Eight Core Industries (ICI) measures collective and individual performance of production in eight core industries.
• The eight core sector industries in decreasing order of their weightage:
• Refinery Products> Electricity> Steel> Coal> Crude Oil> Natural Gas> Cement> Fertilizers.

In this article, we will discuss GIFT City. So, let’s get started.

GIFT City

• GIFT (Gujarat International Finance Tec-City) City is located in Gandhinagar, Gujarat.
• It consists of a multi-service Special Economic Zone (SEZ), which houses India’s first International Financial Services Centre (IFSC) and an exclusive Domestic Tariff Area (DTA).
• GIFT city (Gujarat International Finance Tec-City) is envisaged as an integrated hub for financial and technology services not just for India but for the world.
• IFSCA is the unified regulator for the development and regulation of financial products, financial services and financial institutions in International Financial Services Centers (IFSCs) in India.
• The social infrastructure in the city includes a school, medical facilities, a proposed hospital, GIFT City business club with indoor and outdoor sports facilities. It also includes integrated well-planned residential housing projects making GIFT City a truly “Walk to Work” City.

In this article, we will discuss IIBX. So, let’s get started.

IIBX

• India International Bullion Exchange (IIBX) was first announced in the Union Budget 2020 for easing the Gold Import by Jewellers in India.
• It is a platform that not only enrols jewellers to trade on the exchange, but has also set up necessary infrastructure to store physical gold and silver.
• IIBX will facilitate efficient price discovery with the assurance of responsible sourcing and quality, apart from giving impetus to the financialisation of gold in India.
• IFSCA is entrusted with notifying the eligible qualified jewellers in India for directly importing gold through IIBX.

In this article, we will discuss Bullion Exchange. So, let’s get started.

Bullion Exchange

• Bullion
• Bullion refers to physical gold and silver of high purity that is often kept in the form of bars, ingots, or coins.
• Bullion can sometimes be considered legal tender and is often held as reserves by central banks or held by institutional investors.
• The Government had notified in August 2020 about the Bullion Spot Delivery Contract and Bullion Depository Receipt (BDR) with underlying Bullion as Financial Product and related services as Financial Services.
• Bullion Exchange:
• A bullion Exchange is a market through which buyers and sellers trade gold and silver as well as associated derivatives.
• There are various bullion markets around the world with the London Bullion Market known as the primary global market trading platform for gold and silver.

In this article, we will discuss NASP 2022. So, let’s get started.

NASP 2022

• NASP 2022 lays out the vision of making India as one of the top sports nations by 2030, by providing a safe, affordable, accessible, enjoyable and sustainable air sports ecosystem in India.

• Objectives
• Promote an air sports culture in the country.
• Enable adoption of international good practices in safety including but not limited to, air sports infrastructure, equipment, operations, maintenance and training.
• Develop a simple, stakeholder-friendly and effective governance structure.
• Enhance participation and success of Indian sportspersons in global air sports events.
• Promote design, development and manufacturing of air sports equipment in India in line with the Atmanirbhar Bharat Abhiyan.
• Governing Bodies: There will be four-tier governance structure for air sports in India namely:
• Air Sports Federation of India (ASFI) as the apex governing body.
• National associations for individual air sports or a set of air sports, as appropriate
• Regional (e.g. West/ South/ North East etc.) or State and Union Territory level units of the national air sports associations, as appropriate; and
• District-level air sports associations, as appropriate.
• Sports Covered:
• Aerobatics, Aero modeling and model rocketry, Amateur-built and experimental aircraft, Ballooning, Drones, Gliding and powered gliding, Hang gliding and powered hang gliding, Parachuting (including skydiving, BASE jumping and wing suits etc.), Paragliding and para motoring (including powered parachute trikes etc.), Powered aircraft (including ultra light, micro light and light sports aircraft etc.), Rotorcraft (including autogyro).
• Significance:
• India has the potential to be among the leading nations in the world of air sports. It has a large geographical expanse, diverse topography and fair weather conditions.
• It has a large population, especially the youth. It has a growing culture for adventure sports and aviation.
• Other than the direct revenue from air sports activities, the multiplier benefits in terms of growth of travel, tourism, infrastructure and local employment, especially in hilly areas of the country, are several times greater.
• Creation of air sports hubs across the country will also bring in air sports professionals and tourists from across the world.