Competitive World

Category: UPSC

  • CBI

    In this article, we will discuss CBI (Definition). So, let’s get started.

    • Central Bureau of Investigation (CBI) is the premier investigating police agency in India.
    • It functions under the superintendence of the Deptt. of Personnel, Ministry of Personnel, Pension & Public Grievances, Government of India – which falls under the prime minister’s office.
    • However for investigations of offences under the Prevention of Corruption Act, its superintendence vests with the Central Vigilance Commission.
    • It is also the nodal police agency in India which coordinates investigation on behalf of Interpol Member countries.
    • Its conviction rate is as high as 65 to 70% and it is comparable to the best investigation agencies in the world.

    Cases Handled by the CBI

    • Anti-Corruption Crimes – for investigation of cases under the Prevention of Corruption Act against Public officials and the employees of Central Government, Public Sector Undertakings, Corporations or Bodies owned or controlled by the Government of India.
    • Economic Crimes – for investigation of major financial scams and serious economic frauds, including crimes relating to Fake Indian Currency Notes, Bank Frauds and Cyber Crime, bank frauds, Import Export & Foreign Exchange violations, large-scale smuggling of narcotics, antiques, cultural property and smuggling of other contraband items etc.
    • Special Crimes – for investigation of serious and organized crime under the Indian Penal Code and other laws on the requests of State Governments or on the orders of the Supreme Court and High Courts – such as cases of terrorism, bomb blasts, kidnapping for ransom and crimes committed by the mafia/the underworld.
    • Suo Moto Cases – CBI can suo-moto take up investigation of offences only in the Union Territories.
    • The Central Government can authorize CBI to investigate a crime in a State but only with the consent of the concerned State Government.
    • The Supreme Court and High Courts, however, can order CBI to investigate a crime anywhere in the country without the consent of the State.

  • IRDA

    In this article, we will discuss IRDA (Brief Introduction). So, let’s get started.

    The Insurance Regulatory and Development Authority is the main organization or supervisory body that regulates the insurance sector in the country. It sets rules and regulations for the functioning of the insurance industry. Its sole purpose is to protect the interest of policyholders and to develop the industry on the whole.

    The IRDA or IRDAI regularly issues advisories to insurance companies in case of changes to the rules and regulations. The regulator guides the insurance industry in promoting the efficiency in the conduct of insurance business all the while controlling the rates and other charges related to insurance. This article dwells on the functioning of the IRDA, features and benefits as well as answers to frequently asked questions at the end of this reading.

    Establishment of IRDA:
    The Government of India was the regulator for the insurance industry until 2000. However, to institute a stand-alone apex body, the IRDA was established in 2000 following the recommendation of the Malhotra Committee report in 1999. In August 2000, the IRDA began accepting applications for registrations through invites and allowed companies from other countries to invest up to 26% in the market.

    The IRDA has outlined several rules and regulations under Section 114A of the Insurance Act, 1938. Regulations range from registration of insurance companies for operating in the country to protecting policyholder’s interests. As of September 2020, there are 31 General Insurance companies and 24 Life Insurance companies who are registered with the IRDA.

    Objective of IRDA:
    The main objective of the Insurance Regulatory and Development Authority of India is to enforce the provisions under the Insurance Act. The mission statement of the IRDA is:

    To protect the interest and fair treatment of the policyholder.

    To regulate the insurance industry in fairness and ensure the financial soundness of the industry.

    To regularly frame regulations to ensure the industry operates without any ambiguity.

  • Consumer Price Index

    In this article, we will discuss Consumer Price Index (Definition). So, let’s get started.

    The Consumer Price Index

    The Consumer Price Index (CPI) is a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care. It is calculated by taking price changes for each item in the predetermined basket of goods and averaging them. Changes in the CPI are used to assess price changes associated with the cost of living.

    The CPI is one of the most frequently used statistics for identifying periods of inflation or deflation. It may be compared with the producer price index (PPI), which instead of considering prices paid by consumers looks at what businesses pay for inputs.

    Inflation is the decline of purchasing power of a given currency over time; or, alternatively, a general rise in prices. A quantitative estimate of the rate at which the decline in purchasing power occurs can be reflected in the increase of an average price level of a basket of selected goods and services in an economy over some period of time. The rise in the general level of prices, often expressed as a percentage, means that a unit of currency effectively buys less than it did in prior periods.

    The CPI is what is used to measure these average changes in prices over time that consumers pay for goods and services. Essentially the index attempts to quantify the aggregate price level in an economy and thus measure the purchasing power of a country’s unit of currency. The weighted average of the prices of goods and services that approximates an individual’s consumption patterns is used to calculate CPI. A trimmed mean may be used as part of this calculation.

    The U.S. Bureau of Labor Statistics (BLS) reports the CPI on a monthly basis and has calculated it as far back as 1913. It is based upon the index average for the period from 1982 through 1984 (inclusive) which was set to 100. So a CPI reading of 100 means that inflation is back to the level that it was in 1984 while readings of 175 and 225 would indicate a rise in the inflation level of 75% and 125% respectively. The quoted inflation rate is actually the change in the index from the prior period, whether it is monthly, quarterly or yearly.

    While it does measure the variation in price for retail goods and other items paid by consumers, the Consumer Price Index does not include things like savings and investments, and can often exclude spending by foreign visitors.

  • Election Commission of India

    In this article, we will discuss the Election Commission of India (General Overview). So, let’s get started.

    • The Election Commission of India is an autonomous constitutional authority
    responsible for administering Union and State election processes in India.

    • The body administers elections to the Lok Sabha, Rajya Sabha, and State Legislative Assemblies in India, and the offices of the President and Vice President in the country.

    Structure of the Commission

    • Originally the commission had only one election commissioner but after the Election Commissioner Amendment Act 1989, it has been made a multi-member body.
    • The commission consists of one Chief Election Commissioner and two Election
    Commissioners.
    • The secretariat of the commission is located in New Delhi.
    • At the state level election commission is helped by Chief Electoral Officer who is an IAS rank Officer.
    • The President appoints Chief Election Commissioner and Election Commissioners.
    • They have a fixed tenure of six years, or up to the age of 65 years, whichever is earlier.
    • They enjoy the same status and receive salary and perks as available to Judges of the Supreme Court of India.
    • The Chief Election Commissioner can be removed from office only through a process of removal similar to that of a Supreme Court judge for by Parliament.

    Procedure of Removal

    • Judges of High Courts and Supreme Court, CEC, Comptroller and Auditor General (CAG) may be Removed from office through a motion adopted by Parliament on grounds of ‘Proven misbehaviour or incapacity’.
    • Removal requires special majority of 2/3rd members present and voting
    supported by more than 50% of the total strength of the house.
    • The Constitution does not use the word ‘impeachment’, for the removal of the judges, CAG, CEC.
    • The term ‘Impeachment’ is only used for removing the President which requires the
    special majority of 2/3rd members of the total strength of both the houses which is
    not used elsewhere.

  • THE ESSENTIAL SERVICES MAINTENANCE ACT 1968

    In this article, we will discuss THE ESSENTIAL SERVICES MAINTENANCE ACT 1968 (Definition). So, let’s get started.

    THE ESSENTIAL SERVICES MAINTENANCE ACT, 1968

    ACT NO. 59 OF 1968 [ 28th December, 1968].

    An Act to provide for the maintenance of certain essential services and the normal life of the community.

    (1) Definitions. In this Act,-
    (a) ” essential service” means-
    (i) any postal, telegraph or telephone service;
    (ii) any railway service or any other transport service for the carriage of passengers or goods by land, water or air with respect to which Parliament has power to make laws;
    (iii) any service connected with the operation or maintenance of aerodromes, or with the operation, repair or maintenance of aircraft;
    (iv) any service connected with the loading, unloading, movement or storage of goods in any port;
    (v) any service connected with the clearance of goods or passengers through the customs or with the prevention of smuggling;
    (vi) any service in any mint or security press;
    (vii) any service in any defence establishment of the Government of India;
    (viii) any service in connection with the affairs of the Union, not being a service specified in any of the foregoing sub- clauses;
    (ix) any other service connected with matters with respect to which Parliament has power to make laws and which the Central Government being of opinion that strikes therein would prejudicially affect the maintenance of any public utility service, the public safety or the maintenance of supplies and services necessary for the life of the community or would result in the infliction of grave hardship on the community, may, by notification in the Official Gazette, declare to be an essential service for the purposes of this Act;

    (b) ” strike” means the cessation of work by a body of persons employed in any essential service acting in combination or a concerted refusal or a refusal under a common understanding of any number of persons who are or have been so employed to continue to work or to accept employment, and includes-
    (i) refusal to work overtime where such work is necessary for the maintenance of any essential service;
    (ii) any other conduct which is likely to, result in, or results in, cessation or substantial retardation of work in any essential service.

    (2) Every notification issued under sub- clause (ix) of clause (a) of sub- section (1) shall be laid before each House of Parliament immediately after it is made if it is in session and on the first day of the commencement of the next session of the House if it is not in session, and shall cease, to operate at the expiration of forty days from the date of its being so laid or from the re- assembly of Parlia- ment, as the case may be, unless before the expiration of that period a resolution approving the issue of the notification is passed by both Houses of Parliament. Explanation- Where the Houses of Parliament are summoned to re- assemble on different dates, the period of forty days shall be reckoned from the later of those dates.

  • SEBI

    In this article, we will discuss SEBI (Creation). So, let’s get started.

    The Securities and Exchange Board of India was established in its current incarnation in April 1992, following the passage of the Securities and Exchange Board of India Act by the nation’s parliament. It was first established with more limited powers in 1988. It supplanted the Controller of Capital Issues, which had regulated the securities markets under the Capital Issues (Control) Act of 1947, passed just months before India gained independence from the British.

    The SEBI headquarters is located in the business district at the Bandra-Kurla Complex in Mumbai. It also has regional offices in the cities of New Delhi, Kolkata, Chennai, and Ahmedabad, and more than a dozen local offices in cities including Bangalore, Jaipur, Guwahati, Patna, Kochi, and Chandigarh.

  • Net Zero Carbon Emissions

    In this article, we will discuss Net Zero Carbon Emissions (Definition). So, let’s get started.

    ‘Net zero emissions’ refers to achieving an overall balance between greenhouse gas emissions produced and greenhouse gas emissions taken out of the atmosphere. Think of it like a set of scales: producing greenhouse gas emissions tips the scales, and we want to get those scales back into balance with no new greenhouse gas being added to the atmosphere in any given year. Eventually, we will probably need to tip them the other way to repair past harm. Once we stop emitting greenhouse gases from fossil fuels, we still need to deal with all the emissions we’ve already pumped into the atmosphere over the years. That’s the difference between zero and net zero.

    Getting to net zero means we can still produce some emissions, as long as they are offset by processes that reduce greenhouse gases already in the atmosphere. For example, these could be things like planting new forests, or or drawdown technologies like direct air capture. The more emissions that are produced, the more carbon dioxide we will eventually need to remove from the atmosphere (this is called sequestration) to reach net zero.

    However, to meet the goal of net zero, new emissions of greenhouse gas must be as low as possible. This means that we need to rapidly phase out fossil fuels – coal, oil and gas – and transition to renewable energy.

  • Rivers of India

    In this article, we will discuss Rivers of India (Origin, Place and Direction). So, let’s get started.

    • Rivers
    • Origin
    • Place
    • Direction
    • 1. Ganga
    • Gangotri
    • Uttarakhand
    • North to East
    • 2. Godavari
    • Nasik hills
    • Maharastra
    • West to East
    • 3. Chambal
    • Vindhyas
    • Madhya Pradesh
    • Central India to North
    • 4. Krishna
    • Mahabaleshwar
    • Maharastra
    • West to East
    • 5. Mahanadhi
    • Sihawa Mountain
    • Chhatisgarh
    • Central India to East
    • 6. Sabarmati
    • Aravalli Range
    • Rajasthan
    • Central India to West
    • 7. Indus
    • Kailash
    • Tibet
    • North to West
    • 8. Luni
    • Pushkar Valley
    • Rajasthan
    • Central India to West
    • 9. Cauvery
    • Kodagu Hills
    • Karnataka
    • West to East
    • 10. Narmada
    • Amarkantak
    • Madhya Pradesh
    • Central India to West
    • 11. Vaigai
    • Periyar Plateau
    • Tamilnadu
    • West to East
    • 12. Thamirabarani
    • Agathiyar Hills
    • Tamilnadu
    • West to East
    • 13. Yamuna
    • Yamunotri
    • Uttarakhand
    • North to East
    • 14. Brahmaputra
    • Mansarover (Himalayas)
    • Tibet
    • North to East
    • 15. Tapti
    • Betul
    • Madhya Pradesh
    • Central India to West
    • 16. Periyar
    • Cardamom Hills
    • Kerela
    • West to East

  • State Bank of India

    In this article, we will discuss State Bank of India (Important Facts). So, let’s get started.

    Important Facts

    • The largest Indian banking & financial service company in India is State Bank of India. It is also shortly known as SBI.
    • Headquarter of SBI is located at Mumbai.
    • It is state owned bank.
    • Bank of Bengal was established in Kolkata in 1806. It was first presidency bank of India.
    • Bank of Bombay was established in 1840.
    • Bank of Madras was established in 1843.
    • These three banks were private shareholder’s bank during British period.
    • According to the Paper Currency Act, 1861, these presidency banks were received rights to issue paper currency.
    • In 27 January 1921, these banks were combined together and renamed as the Imperial Bank of India (IBI).
    • In 1955, Imperial Bank of India was acquired by the Reserve Bank of India.
    • RBI renamed Imperial Bank of India as State Bank of India on 30 April 1955.
    • There were eight associate banks of SBI in 1959. They are: State Bank of Bikaner, State Bank of Jaipur, State Bank of Hyderabad, State Bank of Indore, State Bank of Mysore, State Bank of Saurashtra, State Bank of Patoila, and State Bank of Travancore.
    • State Bank of Bikaner & State Bank of Jaipur were merged to form State Bank of Bikaner and Jaipur (SBBJ) in 1963.
    • In 2008, State Bank of Saurashtra was merged with SBI.
    • In 2010, State Bank of Indore was merged with SBI. After that the total number of Associate Banks of SBI is five.
    • SBI has 190 Foreign office in 36 countries and also more than 15,000 branches in all over India.
    • As of 31st March 2016, SBI has 58,541 ATMs.
    • The first woman to be appointed as the Chairperson of SBI is Arundhati Bhattachrya.
    • It is the first bank to open branch in China.
    • It is the first bank to open ATM at Drass in the Jammu & Kashmir Kargil region.

  • GST (Salient Features)

    In this article, we will discuss GST (Salient Features). So, let’s get started.

    Salient Features of Goods and Services Tax

    1. Levy of Tax:

    The State GST (SGST) and Central GST (CGST) shall be levied on all the transactions of goods and services, concurrently.

    2. Utilization of Levy:

    Levies from State GST (SGST) & Central GST (CGST) shall form part of State and the Centre respectively and no cross-utilization shall be allowed.

    3. Availability of Tax Credit:

    In respect of taxes paid on any supply of goods or services or both used or intended to be used in the course business.

    4. Destination based Tax:

    The GST is a destination based tax on consumption of Goods and Services. Hence the credit of SGST shall be transferred to the Destination State in the form of Integrated GST (IGST). IGST will be imposed on all Inter-State Transactions.

    5. Assessment :

    Registered person will be allowed himself to assess the taxes payable under the GST Laws and furnish a return for each Tax Period.

    6. Threshold Limit:

    There shall be a taxable limit (presently,  `. 10 Lakhs in North Eastern States & `. 20 Lakhs in  rest of the county)

    7. Composition Scheme:

    The GST Laws will provide a composition scheme for small dealers (presently, turnover of `. 75 Lakhs).

    8. GSTIN or GST Identification Number

    Every registrants or dealers ( including Exporters and Importers) shall be given a PAN based TIN number which shall be a common to the both the State GST and Central GST.

    9. Compensation to States:

    The GST Laws provides for payment of compensation to the States for loss of revenue, if any, arising out of implementing of the Goods and Services Tax for a period of 5 years.

    10. The GST Council:

    The Council is a quasi – judicial body of States and the Centre,  represented by the State Finance Ministers  or Taxation Ministers and the Finance Minister of India. The key role of this Council is to make recommendations on various provisions of GST Laws to the State and the Centre.

    11. Anti-Profiteering Measures:

    It is expected the GST Laws will bring down the prices of goods and services once implemented. To ensure the pass of such benefits to end users or the customers, the government has put anti-profiteering measures.

    12. Transition:

    Elaborate ‘Transitions Provisions” for smooth transition of existing tax payers to new Indirect Tax Regime provided. It is expected that the GST Laws or new indirect tax regime, brings benefits to all the stakeholders viz. industry, government and the citizens. Further, lower the cost of goods and services, boost the economy and make our products and services globally competitive.