Daily Current Affairs 13 February 2020

Current Affairs of Today Are

1) Pakistan Jails Hafiz Saeed for terror financing

• Hafiz Saeed, the alleged mastermind of the 2008 Mumbai terror attacks that killed 166 people and injured hundreds more, has been sentenced to jail in Pakistan for five­and­a­half years on terror finance charges
• Saeed, a UN­designated terrorist and head of the Jamaat­ud­Dawa ( JuD), was found guilty of “being part of a banned terrorist outfit” and for “having the illegal property” by an anti­terrorism court (ATC) in Lahore.
• The ATC sentenced him and his close aide, Zafar Iqbal, to five­-and-­a-­half years each and imposed a fine of ₹15,000 in each case. A total of 11 years sentence will run concurrently.
• The FIR against Saeed and his associates was registered last July on charges of terror financing at the Counter­Terrorism Department (CTD) in Gujranwala. 
• Saeed, Abdul Ghaffar, Hafiz Masood, Ameer Hamza, and Iqbal were indicted in December 2019.
• This is the first time that Saeed, who has a $10 million bounty on his head by the U.S. government, has been formally convicted of an offense.

FATF

• The sentencing comes days ahead of a crucial meeting of the Financial Action Task Force (FATF), an intergovernmental organization combating money laundering and terror financing, that has put Pakistan on its grey list.
• The FATF blacklist, now called the "Call for action" was the common shorthand description for the Financial Action Task Force (FATF) list of "Non-Cooperative Countries or Territories" (NCCTs). The FATF blacklist or OECD blacklist has been issued by the FATF of the Organization for Economic Co-operation and Development (OECD) since 2000, and lists countries which OECD judges to be non-cooperative in the global fight against money laundering and terrorist financing, calling them "Non-Cooperative Countries or Territories" (NCCTs). Although non-appearance on the blacklist was perceived to be a mark of approbation for offshore financial centers (or "tax havens") who are sufficiently well regulated to meet all of the FATF's criteria, in practice, the list included countries that did not operate as offshore financial centers. The FATF updates the blacklist regularly, adding or deleting entries.
• What is referred to as the "FATF grey list" in media is now formally called "Other monitored jurisdictions"

Source: The Hindu

2) Inflation Rate and Industrial Output

• A day after Finance Minister Nirmala Sitharaman listed a recovery in industrial output as one of the “green shoots” in the economy, government data showed industrial production contracted again in December 2019, even as retail inflation surged to an almost six-­year high of 7.59%.
• This is the highest inflation rate since the NDA government came to power at the Centre in May 2014.
• The Index of Industrial Production (IIP) recorded negative growth of 0.3% in December in comparison to the same month the previous year, according to the National Statistical Office (NSO). The IIP had shown a positive growth of 1.8% in November, after three consecutive months of contraction. IIP contraction came largely on the back of a 1.2% slump in the manufacturing
• sector. In fact, 16 out of 23 industry groups in manufacturing saw negative growth. The production of capital goods fell by 18.2% in comparison to the previous year. 
• The electricity sector also contracted marginally. The mining sector, on the other hand, saw a growth of 5.4%.
• NSO’sConsumer Price Index (CPI) data showed retail inflation had surged from 7.35% in December 2019 to 7.59% in January 2020, mostly due to costlier food items.
• The last time the inflation rate was higher than this was in May 2014, when retail inflation stood at 8.33%.

Food inflation lower

• Food inflation for January 2020 was 13.63%, slightly lower than the previous month’s rate of 14.19%. 
• Vegetables remained costly, showing a 50% inflation rate, despite the recovery in onion prices. The high prices of proteins — pulses, meat, fish and eggs — also contributed to the high rate of food inflation. This is the fourth straight month that retail inflation has crossed the Reserve Bank of India’s medium-term target of 4%.

Source: The Hindu

3) The Tripura Tribal Areas Autonomous District Council (TTAADC)

• The Tripura Tribal Areas Autonomous District Council (TTAADC) has passed resolutions to codify the customary laws of three tribal clans. 
• The council introduced separate Bills to adopt the law of the Mizo, Kaipeng, and Malsom communities to address their long­standing demands.
• Several clans have been approaching the TTAADC to codify their respective customary law. 

About TTAADC

The Tripura Tribal Areas Autonomous District Council (TTAADC) is an independent council administering the Tripuri-dominated areas of the state of Tripura, India. Its council and assembly are situated in Khumulwng, a town 26 km away from Agartala, the state capital.

In the 2005 elections to the TTAADC, the Left Front won 24 seats out of the 28 elected seats and the National Socialist Party of Tripura four. The Left Front and NSPT had contested within the framework of an electoral understanding.

Formation

The Tripura Tribal Areas Autonomous District Council (TTAADC) Act 1979 was passed by the Indian parliament after a series of democratic movements launched by the Indigenous people of Tripura, under the provision of the 6th scheduled of the Indian constitution. The principal objective behind setting up the autonomous district council is to empower the Indigenous people to govern themselves and also to bring all-round developments of the backward people to protect and preserve their culture, customs, and traditions. But it actually came into being on 15th January 1982 and elected members were sworn-in on 18th January 1982. Later it was upgraded under the provision of the 6th schedule of the Indian constitution by the 49th constitution (Amendment) Act, 1984; with effect from 1 April 1985.

Power

• Under the Sixth Schedule of the Constitution, the Tripura Tribal Areas Autonomous District Council is vested with two types of Powers. These are 1. legislative powers and 2. executive powers
• The Legislative Department of the district council is headed by the chairman, who summons the meeting of the council from time to time in connection with the approval of the budget, discussion on bills, rules, and regulations submitted by the treasury bench and passing of the same thereof.
• The council consists of 30 members, out of which 28 members are elected by the adult franchise and 2 members are nominated by the governor of Tripura.
• The chairman has his own secretariat headed by the secretary to the district council.
• The executive powers are vested with the executive committee, which is headed by the chief executive member, who is elected from among the Treasury Bench members.
• The Sixth Schedule to the Constitution of India provides ample powers to the district council for self-Governance of the tribal population of the state. The district council has its own powers to appoint its own staff in terms of requirements and appointment rules. The council administration is headed by the chief executive officer and a deputy chief executive officer of TCS Grade-I and 6 executive officers, such as administration, finance, rural development, planning, development, and coordination, etc.

Source: The Hindu

4) Cabinet approves amending the Agreement between India and Sri Lanka for the avoidance of double taxation

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the Signing and Ratification of the Protocol amending the Agreement between India and Sri Lanka for the avoidance of double taxation and the prevention of fiscal evasion concerning taxes on income.

Impact:

Updation of preamble text and inclusion of Principal Purpose Test, a general anti-abuse provision in the Double Taxation Avoidance Agreement (DTAA) will result in the curbing of tax planning strategies that exploit gaps and mismatches in tax rules.

Details:

• The existing DTAA between India and Sri Lanka was signed on 22nd January 2013 and entered into force on 22nd October 2013.
• India and Sri Lanka are members of the Inclusive Framework and as such are required to implement the minimum standards under G-20 OECD BEPS Action Reports in respect of their DTAAs with Inclusive Framework countries. Minimum standards under BEPS Action 6 can be met through the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) or through agreement bilaterally.
• India is a signatory to the MLI. However, Sri Lanka is not a signatory to the MLI as of now. Therefore, amendment of the India-Sri Lanka DTAA bilaterally is required to update the Preamble and also to insert Principal Purpose Test (PPT) provisions to meet the minimum standards on treaty abuse under Action 6 of G-20 OECD Base Erosion & Profit Shifting (BEPS) Project.

Background:

The existing Double Taxation Avoidance Agreement (DTAA) between India and Sri Lanka was signed on 22nd January 2013 and entered into force on 22nd October 2013. India and Sri Lanka are members of the Inclusive Framework and as such are required to implement the minimum standards under G-20 OECD BEPS Action Reports in respect of their DTAAs with Inclusive Framework countries. Minimum standards under BEPS Action 6 can be met through the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) or through agreement bilaterally. India is a signatory to the MLI.

Source: PIB

5) BIMSTEC disaster management exercise -2020

• Minister of State for Home Affairs, Shri Nityanand Rai inaugurated the Field Training Exercise of 2nd BIMSTEC Disaster Management Exercise on flood rescue at the Ramachandi Beach, Puri (Odisha).  Delegates & rescue teams of five-member nations namely- India, Bangladesh, Nepal, Sri Lanka & Myanmar, of BIMSTEC group participated in this exercise with great zeal and enthusiasm.
• Flood disaster was painted due to cyclone followed by heavy rainfall. A large number of people were presumed to be stranded within the simulated villages and also the cyclone adversely affected a cultural heritage site.  Considering the huge impact of the flood disaster, BIMSTEC member countries offered assistance to the Govt. of India for the flood rescue &relief operation. Govt. of India accepted the assistance offered by BIMSTEC member nations and thus participated in this joint field exercise. The rescue teams of various member nations responded professionally as per the situation and demonstrated quick response using the latest flood rescue gadgets/equipment for rescuing the marooned people.
• A Heli-born rescue operation was carried out to demonstrate the coordination among various stakeholders to deal with an emergency situation. Relief activities such as providing medical care to the needy, distribution of food packets, etc. were also simultaneously shown in a very coordinated and professional manner. For this Exercise, a Communication Centre, Emergency Operation Centre (EOC), Base of Operation, Medical Camp, Facilitation Centre, Media Enclave, etc. were established by the NDRF as per the International Search & Rescue Advisory Group (INSARAG) guidelines for familiarization & exercise purpose.
• This exercise will help in sharing best practices and expertise, consolidating the disaster response, coordination and cooperation among BIMSTEC countries during disasters.
• This exercise will provide a platform for member states to evaluate existing capabilities, share best emergency response practices, improve existing emergency preparedness and strengthen regional response mechanism and also to conduct a risk assessment in the context of cultural heritage sites at the time of disaster

Source: PIB

6) Cabinet approves MoU between India and Iceland in the field of Sustainable Fisheries Development

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, was apprised of a Memorandum of Understanding (MoU) signed between India and Iceland in the field of Fisheries.  The MoU was signed on 10th September 2019.

The salient features of the MoU are

• Creation of facilities for exchange of scientists and technical experts and their proper placement, especially in areas of estimating Total Allowable Catches in offshore and deep-sea areas;
• Provision of training to fisheries professionals from key fisheries institutions in the various management aspects on areas of modern fisheries management and fish processing
• Exchange of scientific literature research findings and other information.
• Exchange of experts/expertise to study the prospects of fishing.  Processing and marketing of products from high seas fisheries for entrepreneurship development.

The MoU will strengthen the existing friendly relations between India and Iceland and will enhance consultation and cooperation on Fisheries including consultation on bilateral issues.

7) Pesticides Management Bill, 2020

• The Union Cabinet on Wednesday approved the Pesticides Management Bill, 2020, which, the government claims will regulate the business of pesticides and compensate farmers in case of losses from the use of spurious agrochemicals.
• Today, the pesticide business is regulated by 1968 rules which have become age­old and need immediate rewriting,  said Information and Broadcasting Minister Prakash Javadekar.
• In February 2018, the Centre released a draft of the pesticides Bill that aims to replace the existing Insecticides Act of 1968. 
• A key proposal in the 2018 version was to raise penalties on the sale of prohibited or spurious pesticides to ₹50 lakh and up to five years’ imprisonment, from the current ₹2,000 and up to three years’ imprisonment. It is unclear if these provisions have been retained in the latest version of Bill that was cleared by the Union Cabinet.
• If there is any loss because of the spurious or low quality of pesticides then there is a provision for compensations. If required, the government will form a central fund which will take care of compensation
• The Centre for Science and Environment, in 2018, had criticized the Bill. “The existing draft provides inadequate representation to States ... The States should have a say in final decision making on pesticide, as they have the best understanding on the agro­ecological climate, environment and soil conditions,” it said in a statement

Source: The Hindu

8) Ethnic products a big hit among Amazon shoppers

• Amazon has been witnessing a crowd of online shoppers for ethnic products ever since ‘Gadhika’ products were launched on the e-commerce platform by the Scheduled Castes and Scheduled Tribe Development Department of Kerala in December last year.
• Gadhika products — natural forest produce and eco­friendly handicraft made from bamboo, coconut and coconut shell, and ornaments, food products, clothes, Wayanad turmeric, honey, pickles, puttu kutti, etc. — have been hand­crafted by artisans and others belonging to various tribes and the Scheduled Castes. Though the list of products has been uploaded on Amazon for six months now, it was officially launched only in December and within a month the sale touched over ₹1 lakh, says Renjith Balaji, administrator, hand­holding cell of the department.
• As many as 240 products have been uploaded on the e­commerce platform and people can access them by searching Gadhika products. Products made by about 80 beneficiaries have been uploaded. The products are reasonably priced. The acceptance for the tribal products was also visible at the tribal festival Gadhika held in Kannur recently. The exhibition could attract over 50,000 people and there was a record sale of over ₹45 lakh. 

Source: The Hindu