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Current Affairs for IAS Exams - 03 November 2022

::NATIONAL::

The Central Board of Direct Taxes (CBDT) has proposed a single income tax return (ITR) form for all taxpayers. A draft form has been released, to which all stakeholders can provide inputs up to December 15.

About:

There are seven kinds of ITR forms, which are used by different categories of taxpayers. They are as follows:
ITR Form 1, called ‘Sahaj’, is for small and medium taxpayers. Sahaj forms can be filed by individuals who have an income up to Rs 50 lakh, with earnings from salary, one house property/ other sources (interest etc).
ITR-2 is filed by people with income from residential property.
ITR-3 is intended for people who have income as profits from business/ profession
ITR-4 (Sugam) is, like ITR-1 (Sahaj), a simple forms, and can be filed by individuals, Hindu Undivided Families (HUFs) and firms with total income up to Rs 50 lakh from business and profession.
ITR-5 and 6 are for limited liability partnerships (LLPs) and businesses respectively.
ITR-7 is filed by trusts and non-profit organisations.
According to the proposal, all taxpayers, barring trusts and non-profit organisations (ITR-7), will be able to use a common ITR form, which will include a separate head for disclosure of income from virtual digital assets.

About:

It aims to celebrate the gallant action by Indian troops in 'Operation Bison' in 1948 which was launched on the icy heights of Zojila pass, the gateway to Ladakh.
This day marked the Indian Army's historic win over the Pakistani regulars and infiltrators, and helped recapture the strategic Zojila Pass
This battle was also historic for the reason that tanks were used for the first time at such heights.

Zoji La:

Zoji La or sometimes known as Zojila Pass, is a high mountain pass in the Himalayas.
It is in the Indian Union territory of Ladakh, Kargil district, Kashmir.

The United Nations Development Programme (UNDP), and the University of Liverpool, offers a novel approach and a clear methodology to directly engage women in decision-making processes, incorporating their needs, concerns, and ideas across all aspects of urban planning and development.
It also provides actionable recommendations for all urban practitioners, government authorities, and communities alike, with real-world case studies to illustrate how cities can be designed in a gender-inclusive way.

Key findings of the report said:

Safety and security: Unsafe streets and public spaces, reduced mobility due tosafety concerns, disproportionate exposure to climate hazard.
Justice and equity: Limited gender equity in urban governance, limited voicein decision-making and leadership.
Health and wellbeing: Inadequate public spaces, Inadequate healthcare,water, hygiene etc.
Enrichment and fulfilment: Prejudice and obstacles to education andemployment, Inadequate leisure, and Poor sense of belonging.

Recently, the NASA’s Twitter handle shared an image of the sun seemingly ‘smiling’. Captured by the NASA Solar Dynamics Observatory.
The image has dark patches on the sun’s surface resembling eyes and a smile.
NASA explained that the patches are called coronal holes, which can be seen in ultraviolet light but are typically invisible to our eyes.

What are coronal holes?

These are regions on the sun’s surface from where fast solar wind gushes out into space. Because they contain little solar material, they have lower temperatures and thus appear much darker than their surroundings.
Here, the magnetic field is open to interplanetary space, sending solar material out in a high-speed stream of solar wind. Coronal holes can last between a few weeks to months.

The Reserve Bank of India (RBI) will become one of the first major central banks in the world to start a pilot project with its own virtual currency when the wholesale digital rupee is used on a trial basis initially for settlement of transactions in government securities.

Key highlights:

It would make monetary and payment systems more efficient.
It would reduce transaction costs by pre-empting the need for settlement guarantee infrastructure.
Also, first pilot in Digital Rupee - retail segment will be commenced soon in selected locations.
Earlier, launch of a Digital rupee was announced in 2022 Union Budget.
Digital rupee or Central Bank Digital Currency (CBDC) is legal tender issued by RBI in digital form. It will be referred as e₹ (digitalRupee).
It will be same as a sovereign currency and is exchangeable, convertible one-to-one at par (1:1) with the fiat currency.

Benefits of Digital Rupee

The Hyderabad based Centre for DNA Fingerprinting and Diagnostics (CDFD), has initiated an inter-disciplinary approach to decode the genetic mutations that causes Paediatric Rare Genetic Disorders (PRaGeD).

About:

The PRaGeD mission is a PAN-India initiative funded by the Department of Biotechnology (DBT).
The centre will be collaborating with paediatrics departments of medical colleges besides, DBT’s own diagnostic centres set up under the Unique Methods of Management of Inherited Disorders (UMMID) programme and others across India to analyse samples from children with rare genetic disorders and their parents.
CDFD is developing a state of the art facility to study the Pediatric Rare Genetic Diseases.