Important News Analysis for UPSC 2020
With UPSC 2020 notification getting released in February, candidates have already started rigorous preparation.
One of the most important aspects of the preparation is daily newspaper reading. This forms an essential part of your preparation since most of the questions are asked from current affairs.
The following article contains articles related to economy, agriculture, science, and health.
1. Bill to cut Corporate Tax: Finance Minister Nirmala Sitharaman has introduced the Taxation Laws (Amendment) Bill 2019 to replace the Taxation Laws (Amendment) Ordinance 2019.
This bill will cut the rate of base corporate tax from 30% to 22%.
This has been done to give a boost to the slowing GDP growth. The International Financial Services Centres (IFSCs) Authority Bill was also introduced.
This bill will create a unified financial regulator for IFSCs.
2. 47.85% growth in loans in microfinance sector: Microfinance Institutions Network (MFIN) has seen a growth of 47.85% in the gross loan portfolio (GLP) in the second quarter that ended in September. The total number of microfinance loan accounts rose from 7.43 crore to 9.79 crores and served an estimated 5.46 crore borrowers.
3. MSP for wheat increased by Rs.85, pulses by Rs.325 per quintal: In order to increase the incomes of farmers, the government has hiked the Minimum Support Price (MSP) for Rabi crops for the 2020-21 season. It has been increased by Rs.325 for lentils, Rs.270 for safflower, Rs.255 for gram, rapeseed and mustard and Rs. 85 for wheat and barley.
This has been done keeping in mind the aim of doubling the income of farmers by 2022.
4. High-tech device to forecast earthquake and tsunami: Scientists have successfully tested and developed a high-tech device that can forecast deadly natural hazards like earthquakes, volcanoes and tsunamis by detecting small movements and changes in the seafloor of the earth.
The system will also be able to detect small changes in the stress and strain of the Earth's crust.
The system has been installed off Egmont Key in the Gulf of Mexico last year and according to the researchers from the University of South Florida (USF) in the U.S., it has been producing data on the three-dimensional motion of the seafloor.
5. Increased risk of glaucoma due to air pollution: According to a study, exposure to polluted air increases the risk of glaucoma which is an eye condition that can cause irreversible blindness. This condition affects over 60 million people worldwide. The report has been published in the journal Investigative Ophthalmology & Visual Science. It goes on to show that people in those places where the amounts of fine particulate matter pollution are high were at least 6% more likely to report having glaucoma than those in less polluted areas. The latest study provides evidence of the fact that the people in urban areas are 50% more likely to have glaucoma than those in rural areas. This suggests that air pollution can be a contributor to that pattern.
Read the UPSC 2020 form and instructions carefully before filling it and keep working hard.