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UPSC Key—22nd January, 2024: Rare earth metals, Interim Budget, Ram Rajya and ideal societyPremium Story

UPSC Key—22nd January, 2024: Rare earth metals, Interim Budget, Ram Rajya and ideal societyPremium Story

UPSC Key—22nd January, 2024: Rare earth metals, Interim Budget, Ram Rajya and ideal societyPremium Story

Important topics and their relevance in UPSC CSE exam for January 22, 2024. If you missed the January 19, 2024 UPSC CSE exam key from the Indian Express, read it here

THE WORLD

Your junk drawer could be a large source of rare earth minerals

Syllabus:

Preliminary Examination: Current events of national and international importance and General Science

Mains Examination: General Studies III: Science and Technology- developments and their applications and effects in everyday life.

Key Points to Ponder:

• What’s the ongoing story-A vast and largely overlooked source of rare earth metals, materials critical for clean energy, could be in our homes, sitting in the back of our cabinets and junk drawers.

• What exactly new study from researchers in China and the Netherland said?

• Do You Know-A new study from researchers in China and the Netherlands estimates that reusing or recycling rare earth metals from old cell phones, hard drives, electric motors and turbines could meet as much as 40 percent of the demand for the metals in the United States, China and Europe by 2050. Rare earths are essential for green technology, like electric vehicles and wind turbines, which have a critical role in moving the world away from burning fossil fuels. They’re also used in industries like aircraft, missile and satellite manufacturing.

• Why Rare earth metals matter?

• First of all, what are Rare earth metals?

• Do You Know-The 17 rare earth elements (REE) include the 15 Lanthanides (atomic numbers 57 — which is Lanthanum — to 71 in the periodic table) plus Scandium (atomic number 21) and Yttrium (39). REEs are classified as light RE elements (LREE) and heavy RE elements (HREE).

Some REEs are available in India — such as Lanthanum, Cerium, Neodymium, Praseodymium and Samarium, etc. Others such as Dysprosium, Terbium, and Europium, which are classified as HREEs, are not available in Indian deposits in extractable quantities. Hence, there is a dependence on countries such as China for HREEs, which is one of the leading producers of REEs, with an estimated 70 per cent share of the global production.

According to the US Geological Survey, supplies from China had started to become erratic as early as 1990, as Beijing kept changing the amounts that it would allow to be produced and exported. Also, according to the USGS, the Chinese government began to limit the number of companies, both Chinese and Sino-foreign joint ventures, that could export REEs from China.

Minerals like Cobalt, Nickel, and Lithium are required for batteries used in electric vehicles. REEs are an essential — although often tiny — component of more than 200 consumer products, including mobile phones, computer hard drives, electric and hybrid vehicles, semiconductors, flatscreen TVs and monitors, and high-end electronics. India is seen as a late mover in attempts to enter the lithium value chain, coming at a time when EVs are predicted to be a sector ripe for disruption.

The year 2022 is likely to be an inflection point for battery technology — with several potential improvements to the Li-ion technology, with alternatives to this tried-and-tested formulation being in advanced stages of commercialisation. India has an ambitious plan to convert a large percentage of its transport to electric, and would require these minerals. According to the plan, 80 per cent of the country’s two- and three-wheeler fleet, 40 per cent of buses, and 30 to 70 per cent of cars will be EVs by 2030.

• What is India’s position on rare earth elements?

• What is the Minerals Security Partnership (MSP)?

Other Important Articles Covering the same topic:

????Explained: What are rare earth elements, and why is India keen to join a global alliance to ensure their supply?

FRONT PAGE

Tax sops for low-income slabs, higher capex likely in Budget

Syllabus:

Preliminary Examination: Economic and Social Development

Main Examination: General Studies III: Government Budgeting

Key Points to Ponder:

• What’s the ongoing story-UNION Finance Minister Nirmala Sitharaman said the upcoming Interim Budget is unlikely to have any “spectacular announcement”, but small tax relief measures and a fillip to welfare spending is likely, according to officials.

• What is interim budget?

• What is the difference between interim budget and Union Budget?

• What is the difference between interim budget and vote on account?

• Who presented the first interim budget in India?

• But why interim budget this year?

• What is the current income tax slab?

• For Your Information-Tweaks in certain income tax rates, especially for those at the bottom of the taxpayer pyramid, are expected in the Interim Budget for 2024-25 to be announced on February 1. A hike in standard deduction along with a higher exemption limit to incentivise taxpayers to shift to the new income tax regime are likely.

Officials said the tax department is also looking at increasing the efficiency of revenue collection through additional transactions under the ambit of Tax Deducted at Source (TDS) and 360-degree profiling of taxpayers — measures that have yielded good results in the initial phase over the last few years.

In the past too, interim budgets, also called a vote-on-account, did not entail any major changes. Ahead of the Lok Sabha elections in 2019, then Finance Minister Piyush Goyal had proposed a hike in standard deduction and the threshold for tax deducted at source (TDS), along with sops to farmers and pension cover for unorganised sector workers. Five years earlier in 2014, the Interim Budget by then Finance Minister P Chidambaram had announced a cut in excise duties for small cars, motorcycles, scooters and SUVs besides large and mid-segment cars, and tax relief for mobile handsets.

And in the Interim Budget for 2009-10, towards the end of the first term of the United Progressive Alliance (UPA) government, then Finance Minister Pranab Mukherjee announced easing of fiscal targets. This was preceded by a fiscal stimulus marked by Rs 40,000-crore of tax cuts in December 2008, which was later criticised for posing a challenge to fiscal consolidation.

Before that, in the final year of the AB Vajpayee-led NDA government, marked by the Interim Budget of 2004-05, saw late Jaswant Singh announcing changes in the stamp duty structure, revival packages for the tea and sugar industries, and merging of dearness allowance with basic pay. These weren’t the only measures taken as Singh had already announced major changes in both direct and indirect taxes in January 2004 including a cut in the peak rate of customs duty on non-farm goods to 20 per cent from 25 per cent, lower customs duty on project imports, coal and the power sector, and abolishment of the special additional duty on customs duty of 4 per cent.

The Budget session of Parliament, the last of the 17th Lok Sabha, will be held between January 31 and February 9. The Interim Budget will be presented by Sitharaman on February 1. The Lok Sabha elections are expected to be held around April-May, following which the elected government is likely to present the full Budget in July.

The government presents a vote-on-account in Parliament to seek approval for meeting expenditure for the first four-five months of the financial year beginning April to pay salaries and meet expenses for ongoing programmes in various sectors with no changes in the taxation structure, until a new government takes over and presents a full Budget that is revised for the full financial year. Over the years, some governments have made policy measures or tweaked tax rates and turned it into an Interim Budget before elections.

Other Important Articles Covering the same topic:

????Union Budget 2023 income tax slabs: New tax regime is default, rebate increased from Rs 5 lakh to Rs 7 lakh

THE IDEAS PAGE

Viksit Bharat, litmus test

Syllabus:

Preliminary Examination: Current events of national and international importance.

Main Examination: General Studies IV: Philosophical basis of governance and probity

Key Points to Ponder:

• What’s the ongoing story-Ashok Gulati and Shyma Jose Writes: As this article appears, Prime Minister Narendra Modi and many in his government, along with the Chief Minister of Uttar Pradesh, would be busy in pran pratishta at the Ram temple in Ayodhya. One hopes that with the consecration, the country will also see the beginnings of Ram Rajya in the true sense, where communal harmony and safety of all people, especially women, is secured, and poverty is abolished.

• What is Ram Rajya?

• What is ideal society?

• How Ram Rajya and ideal society is similar?

• What did Gandhi say about Ram Rajya?

• Ram Rajya as equality and non-violence-Connect the dots

• Is Ram Rajya a religious, political or secular concept?

• Does Indian Constitution reflect the spirit of Ram Rajya?

• Why Ram Rajya is relevant today?

• “With the consecration, the country will also see the beginnings of Ram Rajya in the true sense, where communal harmony and safety of all people, especially women, is secured, and poverty is abolished”-Comment

• What is ‘Viksit Bharat by 2047’?

• “The NITI Aayog has recently come up with a report estimating that 248.2 million Indians have been lifted out of poverty”-Discuss

• What is National Multidimensional Poverty Index?

• How National Multidimensional Poverty Index is different from UNDP’s methodology of MPI?

• “NITI Aayog argues that NMPI is a better measure to estimate poverty than the traditional estimates based on income/consumption”-How far you agree?

• What raises questions about the sustainability of a development model?

Other Important Articles Covering the same topic:

????This Quote Means: With Ram Temple consecration in Ayodhya, recalling what Gandhi said about Ram Rajya

GOVT & POLITICS

Govt: 81% responses to Kovind-led panel in favour of simultaneous polls

Syllabus:

Preliminary Examination: Indian Polity and Governance-Constitution, Political System, Panchayati Raj, Public Policy, Rights Issues, etc.

Mains Examination: General Studies II: Functions and responsibilities of the Union and the States, issues and challenges pertaining to the federal structure, devolution of powers and finances up to local levels and challenges therein

Key Points to Ponder:

• What’s the ongoing story-The majority of the over 20,000 responses received by the high-level committee on ‘One Nation, One Election’ favoured the idea of holding simultaneous elections, the Union Law Ministry said in a statement on Sunday.

• What exactly high level committee said?

• What is “one nation, one election”?

• What are the arguments around holding simultaneous elections?

• But when elections were first held in independent India, where they not simultaneous to begin with?

• Has the idea of simultaneous polls been explored before?

• When and how did the idea of simultaneous Lok Sabha, Assembly and local body polls come up?

• How exactly will holding Lok Sabha and Assembly polls together help?

• What have political parties said? What is the system in other countries?

• What will happen if India does decide on simultaneous elections?

• For Your Information-The majority of the over 20,000 responses received by the high-level committee on ‘One Nation, One Election’ favoured the idea of holding simultaneous elections, the Union Law Ministry said in a statement on Sunday.

The committee chaired by former President Ram Nath Kovind held its third meeting on Sunday, the ministry said. The committee had invited suggestions from the public through a public notice published on January 5, seeking responses till January 15. The committee also received feedback through its website. “Altogether 20,972 responses were received out of which 81% affirmed the idea of simultaneous election. Besides, suggestions were also invited from 46 political parties. Till date, suggestions have been received from 17 political parties. Suggestions by the Election Commission of India were also noted by the Committee,” the ministry said.

Last week, Kovind held meetings with former chief election commissioners Sushil Chandra and O P Rawat, and former Chief Justice of Madras High Court Justice Munishwar Nath Bhandari, and former Chief Justice of Delhi High Court Justice G Rohini. This, the Ministry said, was a part of the consultations with eminent jurists, former Chief Justices of the Supreme Court and High Courts, former CECs, the heads of the Bar Council of India and industry bodies FICCI, ASSOCHAM and CII.

The next meeting of the committee would be on January 27, it said. The committee was set up in September by the Law Ministry and held its first meeting that month, followed by the second one in October. As per its terms of reference, the committee was asked to “examine and make recommendations for holding simultaneous elections to the House of the People (Lok Sabha), state legislative assemblies, municipalities and panchayats.”

Other Important Articles Covering the same topic:

????One Election will mean less democracy

????The 360° UPSC Debate | Does India Need Simultaneous Elections?

ECONOMY

India to send industry delegation for copper mining opportunities in Zambia

Syllabus:

Preliminary Examination: Current events of national and international importance.

Main Examination: General Studies I: Distribution of key natural resources across the world (including South Asia and the Indian sub-continent); factors responsible for the location of primary, secondary, and tertiary sector industries in various parts of the world (including India).

Key Points to Ponder:

• What’s the ongoing story-The Mines Ministry has proposed sending an Indian industry delegation to copper-rich Zambia to discuss potential copper exploration and mining projects in the southern African country.

• Map Work- Zambia

• Copper-Know in detail

• Why the Mines Ministry has proposed sending an Indian industry delegation to copper-rich Zambia?

• Do You Know-Zambia has about 6 per cent of the world’s copper reserves and was the eighth-largest producer of copper in 2022. Copper is widely used in sectors like construction, consumer durables, transportation, and industrial manufacturing. It is also used in clean energy technologies including solar panels, EVs, and energy efficient motors. China Nonferrous Mining Corporation (CNMC) is among the largest producers of copper in Zambia.

As per International Copper Association India, domestic copper demand grew by 16 per cent in FY2022-2023 (FY23), while demand for copper in clean energy technologies grew by 32 per cent. At the same time, net imports of copper cathode, which is the basic product of copper production, grew by 180 per cent in the same financial year as India is not self-sufficient in copper due to low domestic reserves. The current scenario of increasing demand for copper coupled with limited domestic supply makes the acquisition of copper mining blocks overseas an attractive proposition for Indian mining companies.

Currently, India has a limited presence in Zambia’s copper mining sector. In September last year, Vedanta regained control of Konkola Copper Mines (KCM) after it was seized by Zambian authorities in 2019. The Zambian government owns a 20 per cent stake in KCM. In 2023, Vedanta also pledged to invest over $1.2 billion in Zambia to increase output of mined copper and pay outstanding debt. KCM holds about 250 million tonne of copper ore reserves. According to the meeting minutes, Kantha Rao advised Vedanta “to share with the industry the logistics and other information required for doing business in Zambia as they have good experience”.

India is not alone in investing in Zambia for its copper reserves. Canada-based First Quantum Minerals and China’s CNMC are among the largest producers of copper in Zambia. In December, Sokwani Chilembo, chief executive officer of Zambia Chamber of Mines, had revealed that CNMC plans investments worth $1.3 billion in developing its existing mines to increase output.

Among the interested companies to explore mining opportunities in Zambia is Vedanta-owned Hindustan Zinc, in which the Indian government also owns a 35 per cent stake. Vedanta did not respond to a query on whether it plans to acquire more copper blocks in Zambia. Ola Electric, a major maker of electric two-wheelers, also did not elaborate on its interest in copper mining in Zambia.

• Indian Copper scenario-Know in detail

• Which state is the largest producer of copper in India?

• Where is the largest copper mine in India?

Other Important Articles Covering the same topic:

????Copper 

EXPLAINED

1822-2024: The Ram Mandir journey

Syllabus:

Preliminary Examination: History of India

Mains Examination: 

• General Studies I: Indian culture will cover the salient aspects of Art Forms, literature and Architecture from ancient to modern times

• General Studies II: Structure, organization and functioning of the Executive and the Judiciary

Key Points to Ponder:

• What’s the ongoing story-The Ram Janmabhoomi movement for a grand temple at Ayodhya has a timeline running over more than two centuries, with several milestones amid the spilling of blood. Here is a brief history of the movement that ended up changing the course of Indian politics over the last three decades.

• Who are the architects for the temple?

• Ram Mandir is one of the important Hindu temple-why?

• Know more about Architectural features of Ram Mandir

• What is the Nagara style of architecture?

• What are the features of Nagara style of temple architecture?

• What is the Dravidian architecture style?

• Nagara style of architecture and Dravidian architecture style-Compare and Contrast

• Nagara style of architecture is further divided into different schools of architecture based on region and geography-what are those different schools of architecture?

• What Supreme Court of India said on Ram Mandir Construction?

• Under what circumstances was the Places of Worship Act, 1991 law enacted, and how did the government justify it?

• The Places of Worship Act, 1991-Know the Key Provisions

• What Section 3 of the Places of Worship Act, 1991 is all about?

• Section 4(1) and Section 4(2) of the Places of worship act, 1991-Know the provisions

• Ayodhya Ram Janmabhoomi Verdict and Section 5 of the Places of Worship Act, 1991-Connect the Dot

• What did the Supreme Court say about the Places of Worship Act, 1991 in its Ayodhya judgment?

Other Important Articles Covering the same topic:

????Ramayana outside India, from east Asia to the Caribbean

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