20 May 2023: UPSC Exam Comprehensive News Analysis

CNA 20 May 2023:- Download PDF Here

TABLE OF CONTENTS

A. GS 1 Related
B. GS 2 Related
POLITY
1. Government of National Capital Territory of Delhi Act, 1991
C. GS 3 Related
ENVIRONMENT
1. Gujarat: India’s green hydrogen hub
D. GS 4 Related
E. Editorials
ECONOMY
1. Tracking SDG progress the Bhopal way
F. Prelims Facts
1. Arsenic exposure
G. Tidbits
1. Supreme Court at full strength
2. Golden Globe Race
H. UPSC Prelims Practice Questions
I. UPSC Mains Practice Questions
FIP Magazine

G. Tidbits

1. Supreme Court at full strength

  • Chief Justice of India D.Y. Chandrachud administered the oath of office to Justices Prashant Kumar Mishra and K.V. Viswanathan, bringing the Supreme Court of India back to its full strength of 34 judges.
    • The Supreme Court of India comprises the Chief Justice and 33 other Judges appointed by the President of India.
  • Justices Mishra and Viswanathan replaced retiring Justices Dinesh Maheshwari and M.R. Shah.
  • The swearing-in ceremony took place in the presence of the full court and members of the Bar, following their speedy appointments approved by the government.
  • Justice Viswanathan, who could become the 58th Chief Justice of India in August 2030, is the ninth lawyer directly elevated to the Supreme Court Bench. Justice Mishra previously served as the Chief Justice of the Andhra Pradesh High Court.

2. Golden Globe Race

  • Commander (retd.) Abhilash Tomy returned to India after creating history as the first Indian to complete the Golden Globe race.
    • He finished second in the 2022 edition after South African sailor Kirsten Neuschafer.
  • The Golden Globe Race is a non-stop, solo, unassisted yacht race around the world which was held for the first time in 1968-69.
  • This race prohibits the use of modern technology and restricts boat designs and technology to those prior to 1968.
  • Participants are not allowed to use GPS, satellite communication, or navigational aids, but are provided with a satellite phone for medical emergencies.
  • Satellite phones would be available for extremely restricted use, up to four short messages a day, and use of the GPS chart plotter carried in a sealed box (for emergency) would lead to disqualification from the race.
  • And the sailing would be along a stipulated route, rounding the three great capes, the Cape of Good Hope in South Africa, Cape Leeuwin in Australia and Cape Horn in Chile.
  • In the 1968 race, Sir Robin Knox-Johnston became the first person to complete a non-stop solo circumnavigation.
    • Knox-Johnston used the boat called Suhaili, which was built in Bombay with assistance from the Royal Bombay Yacht Club in 1963.
  • The GGR is the longest sporting event in the world.
  • The 2022 edition commenced on September 4, 2022, from Les Sables-d’Olonne in France.Β 

H. UPSC Prelims Practice Questions

Q1. With respect to Alternative Investment Funds (AIF), which of the following 
statements is/are correct? (Level-Medium)
  1. AIF is any fund established in India which is a privately pooled investment vehicle that collects funds from sophisticated investors, both Indian or foreign, for investing.
  2. AIF includes funds covered under Indian market regulator SEBI’s mutual fund regulations.
  3. Real estate funds, debt funds, private equity funds, funds for distressed assets, etc. are registered as Category III AIFs.

Options:

  1. 1 only
  2. 2 and 3 only
  3. 1 and 3 only
  4. 1, 2 and 3
CHECK ANSWERS:-

Answer: a

Explanation:Β 

  • Statement 01 is correct, Β Alternative Investment Funds (AIF) are any privately pooled investment fund (whether from Indian or foreign sources) in the form of a trust, a company, a body corporate, or a Limited Liability Partnership, as defined by the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012.
  • Statement 02 is incorrect, AIF does not contain funds that are subject to the SEBI’s laws. Family trusts, employee welfare trusts, and gratuity trusts are not counted as AIFs.
  • Statement 03 is incorrect, Β AIFs which do not undertake leverage or borrowing other than to meet day-to-day operational requirements and as permitted in the SEBI (Alternative Investment Funds) Regulations, 2012. Various types of funds such as real estate funds, private equity funds (PE funds), funds for distressed assets, etc. are registered as Category II AIFs.
Q2. Consider the following statements: (Level-Easy)
  1. Angel tax is levied on the capital raised by a listed company by selling shares to investors above the fair market value.
  2. An entity will be considered a startup up to 10 years from the date of its incorporation and registration, and an entity will continue to be recognised as a startup if its turnover for any of the financial years since incorporation and registration does not exceed β‚Ή100 crore.

Which of the statements given above is/are correct?

  1. 1 only
  2. 2 only
  3. Both
  4. None
CHECK ANSWERS:-

Answer: b

Explanation:Β 

  • Statement 01 is incorrect, Angel tax is a term used to refer to the income tax payable on capital raised by unlisted companies via the issue of shares where the share price is seen in excess of the fair market value of the shares sold.Β 
    • The excess realisation is treated as income and taxed accordingly.
  • Statement 02 is correct, Criteria that are considered for DPIIT startup recognition are,
unnamed 2023 05 20T133202.352

Image Source: Startupindia.gov

Q3. Herschel Island, that was seen in the news recently, is a part of which country? 
(Level-Difficult)
  1. Argentina
  2. Australia
  3. Canada
  4. Mexico
CHECK ANSWERS:-

Answer: c

Explanation:Β  Herschel Island is an island in the Beaufort Sea (part of the Arctic Ocean), which lies 5 km off the coast of Yukon in Canada, of which it is administratively a part.

  • It is in news as a study reveals that the thawing permafrost in Herschel Island is likely to destabilise thousands of industrial sites and linked contaminated areas in the Arctic, which could result in the spread of toxic substances across the region.
Q4. Which of the following statements is/are incorrect? (Level-Easy)
  1. The right to protest is recognised as a fundamental right.
  2. The right to peaceful protest is included in the Universal Declaration of Human Rights of the United Nations.

Options:

  1. 1 only
  2. 2 only
  3. Both
  4. None
CHECK ANSWERS:-

Answer: d

Explanation:Β 

  • Statement 01 is incorrect, The right to protest is under article 19(1) (a), article 19(1)(b) and Article 19(1)(c) which gives the citizen the right to freedom of expression and the right to meet peacefully without weapons and the right to form associations or trade unions.
  • Statement 02 is incorrect, The right to peaceful protest is included in the Universal Declaration of Human Rights of the United Nations. The right of peaceful assembly includes the right to hold meetings, sit-ins, strikes, rallies, events or protests, both offline and online.
Q5. Two important rivers - one with its source in Jharkhand (and known by a different
name in Odisha), and another, with its source in Odisha - merge at a place only a 
short distance from the coast of Bay of Bengal before flowing into the sea. This is 
an important site of wildlife and biodiversity and a protected area. Which one of the
following could be this? (Level-Difficult) (PYQ-CSE-2011)
  1. Bhitarkanika
  2. Chandipur-on-sea
  3. Gopalpur-on-sea
  4. Simlipal
CHECK ANSWERS:-

Answer: a

Explanation:Β  Brahmani river originates in Jharkhand and is known by the name of Burhabalang in Odisha. Baitarani river originates in Odisha. Bhitarkanika Wildlife Sanctuary is situated at the delta of Brahmani and Baitarani rivers before they merge into the Bay of Bengal.

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CNA 20 May 2023:- Download PDF Here

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