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The lower house of Parliament passed the Competition (Amendment) Bill, 2023 which seeks to amend the Competition Act, 2002. The Bill seeks to amend the Competition Act, 2002, to regulate mergers and acquisitions based on the value of transactions. The Act prohibits any person or enterprise from entering into a combination which may cause an appreciable adverse effect on competition. Deals with transaction …

All drugs and food for special medical purposes, imported for personal use for the treatment of all rare diseases listed under the National Policy for Rare Diseases 2021, have been exempted from basic customs duty by the central government. The new duty exemption The exemption has been granted by the Central Board of …

The Government has approved Vibrant Villages Programme (VVP) recently. It is a Centrally Sponsored Scheme. Comprehensive development of villages of blocks on the northern border to improve the quality of life of people living in identified border villages. Development of essential infrastructure and creation of livelihood opportunities Time period: It is approved for the Financial Years 2022-23 to …

Keeping in view the zero tolerance policy against terrorism, the Central Government regularly reviews administrative and legal requirements of National Investigation Agency (NIA). What is the NIA? The agency came into existence in 2008 in the wake of the 26/11 Mumbai terror attack. It is a central agency mandated to investigate all the offences affecting: the sovereignty, security and integrity …

New India Literacy Programme launched to cover a target of 5.00 crore non-literates in the age group of 15 years and above It is a centrally sponsored scheme. The government plans to implement during five years from 2022-23 to 2026-27. Aim: To provide educational aids to five crore students during the five years under the Foundational Literacy and Numeracy …

The Insurance Regulatory and Development Authority of India (IRDAI) has lifted limits on the payment of commissions to insurance intermediaries. The new rules: IRDAI has asked insurance companies, including life and non-life, to fix an overall cap on commission to agents, brokers and other intermediaries, giving more flexibility to insurers in managing their expenses. This means …

Union Minister of State for Panchayati Raj informed the Lok Sabha about implementation of the SWAMITVA Scheme. It is a Central Sector Scheme. To provide the ‘Record of Rights’ to village household owners possessing houses in inhabited areas (Abadi) in villages. Under the scheme, land parcels in rural inhabited area of all the villages of the country …

The International Monetary Fund (IMF) confirmed a $3 billion bailout plan for Sri Lanka’s struggling economy. What is a bailout? Bailout is a general term for extending financial support to a company or a country facing a potential bankruptcy threat. It can take the form of loans, cash, bonds, or stock purchases. A bailout may or may not …

Recently, the Indian Patent Office rejected an application by pharmaceutical giant Johnson & Johnson (J&J) to extend its patent on the drug bedaquiline.  What is Bedaquiline? Bedaquiline is a drug in tablet form used to treat drug-resistant tuberculosis (TB). What is drug-resistant TB? As of 2017, India accounted for around one-fourth of the world’s burden of multi-drug-resistant …

India is considering translocating some tigers to Cambodia. India signed a memorandum of understanding with Cambodia to assist it with all technical details and knowledge regarding the reintroduction of the tiger in the country. How did tigers go extinct in Cambodia? Due to habitat destruction and poaching. The last tiger spotted on a camera trap in Cambodia was in 2007. …

Five people have died and three others are infected with the Marburg virus  in Tanzania. Marburg virus disease (MVD), earlier known as Marburg hemorrhagic fever, is a severe, often fatal hemorrhagic fever. Marburg, like Ebola, is a filovirus and both diseases are clinically similar. Rousettus fruit bats are considered the natural hosts for the Marburg virus. However, African green …

The British government recently said that it would provide Ukraine with armour-piercing rounds containing depleted uranium. What is depleted uranium? Depleted uranium is a byproduct of the process of creating enriched uranium, which is used in nuclear reactors and nuclear weapons. In comparison to enriched uranium, depleted uranium is much less radioactive and is incapable of generating a nuclear …

The conviction, on Thursday, March 23, 2023, of Congress leader and now former Member of Parliament from Wayanad Rahul Gandhi by a Chief Judicial Magistrate’s court in Surat, Gujarat, and the issuance of a notification the next day by the Lok Sabha Secretariat of Mr. Gandhi’s disqualification raise some important …

Recently, an MP (Member of Parliament) was sentenced to two years in jail in a 2019 Defamation Case over his remarks about another political leader by the Surat Court. The case was filed under Indian Penal Code (IPC) sections 499 and 500, dealing with defamation. What do IPC sections 499 and 500 say? Section 499 of …

More than three years after the pandemic began, newer variants, an uptick in cases, hospitalisations, and even deaths are being reported from across the world, though a far cry from the earlier alarming levels. After Kappa, Delta, BA.2.75, and BA.2.76, the latest variant (first detected in India) is the Omicron …

When India’s Union Law Minister describes retired judges in a rather harsh manner, it is something that cannot be taken lightly. For the Minister to label retired judges who question “state policies” as being “anti-India” elements is not just a case of a flawed understanding of concepts but also a …

Konkan 2023 exercise was held recently. It is an annual bilateral maritime exercise between the Indian Navy and the Royal Navy (United Kingdom. It was held in the Arabian Sea. INS Trishul, a guided missile frigate participated in this edition. The exercises covered  all domains of maritime operations, air, surface and sub-surface. SOURCE: THE HINDU, THE ECONOMIC TIMES, PIB

The Union Finance Ministry’s reiteration in the Rajya Sabha recently, of the legal position, i.e., the absence of any provision to allow the accumulated corpus of members of the National Pension System (NPS) to be “refunded and deposited back” to States, should have a deterrent effect on those States contemplating …

A state-backed Chinese company has won a contract to develop a key port in the Solomon Islands. Key details: Solomon Islands is an island country situated in the south-west Pacific Ocean, to the northeast of Australia. It comprises nine main island groups. Capital – Honiara, is located on Guadalcanal, the largest island. The population of Solomon Islands is predominantly Melanesian (about 95 …

Indian navy to conduct the ‘sam no varunah’ coastal car rally. To awaken the maritime nation and encourage Sea Consciousness. Celebrate Azadi ka Amrit Mahotsav. Conduct awareness drives along the route about various career opportunities that the Navy offers. Showcase ‘Naari Shakti’ by participation of serving women officers and naval wives. Instill a sense of adventure and motivate young generation to join the Indian …