DAILY CURRENT AFFAIRS ANALYSIS

28^th February 2022

. No.	Topic Name	Prelims/Mains
1.	ELECTORAL BONDS	Prelims & Mains
2.	WHO IS A FUGITIVE ECONOMIC OFFENDER	Prelims & Mains
3.	ABOUT  GATI SHAKTI MISSION	Prelims & Mains
4.	ABOUT THE NEBRA SKY DISC	Prelims Specific Topic

 

1. ELECTORAL BONDS: 

GS II

Topic – Election related issues:

• Electoral Bonds are a type of financial instrument that can be used to make payments to political parties.
• The bonds are available in denominations of Rs. 1,000, Rs. 10,000, Rs. 1 lakh, Rs. 10 lakh, and Rs. 1 crore, with no upper limit.
• The State Bank of India is authorized to issue and redeem these bonds, which have a fifteen-day validity period.
• These bonds can be redeemed in a registered political party’s designated account.
• The bonds are available for purchase by any person (who is an Indian citizen or who is incorporated or founded in India) for ten days in each of the months of January, April, July, and October, as determined by the Central Government.
• Individuals can purchase bonds either alone or collectively with other individuals.
• The name of the donor is not mentioned on the bond.

• Source – ECI Website

2. FUGITIVE ECONOMIC OFFENDER:

GS III

Topic – Money Laundering Related Issues

• Who is a Fugitive economic offender:
• A person can be named an offender under the law if there is an arrest warrant against him or her for involvement in economic offences involving at least Rs. 100 crore or more and has fled from India to escape legal action.
• What’s the process of extradition:
• The investigating agencies have to file an application in a Special Court under the Prevention of Money Laundering Act containing details of the properties to be confiscated, and any information about the person’s whereabouts
• Then, the Special Court issue a notice to the person to appear at a specified place and date within six weeks from the issue of notice & proceedings shall be terminated if the person appears.
• If the person does not appear, the person would be declared as a Fugitive Economic Offender based on the evidence filed by the investigating agencie
• According to the Fugitive Economic Offenders Act, 2018, the person who is declared as a Fugitive Economic Offender can challenge the proclamation in the High Court within 30 days of such declaration
• Source – The Hindu

3. ABOUT GATI SHAKTI MISSION:

GS III

Topic – Infrastructure related issues:

• About PM Gati-Shakti:
• It is a digital platform that connects 16 departments – including highways and highways, railways, shipping, petrol and gas, power, telephone, freight and aircraft.
• It aims to ensure the overall planning and implementation of infrastructure projects.
• Initiatives offered:
• The site will provide 200 layers of geographical data, including existing infrastructure such as roads, highways, railways, and toll plazas, as well as geographical information about forests, rivers and regional boundaries to assist in planning and obtaining permits.
• The site will also allow various government departments to track, in real time and in a single location, the progress of various projects, especially those that affect many sectors and regions.
• Significance:
• The aim is to ensure that “each department now has the visibility of each other’s activities to provide sensitive information while planning and performing tasks in a comprehensive manner.
• In this way, the various departments will be able to prioritize their projects through inter-sectoral collaboration”.
• It will also increase last-mile connections and reduce the cost of ordering with integrated planning and reduce startup traffic.
• Need for:
• Poor infrastructure planning includes newly constructed roads dug by the water department to lay pipes. This has adversely affected road infrastructure and national mobility.
• Also, the cost of asset management in India is about 13-14% of GDP as opposed to 7-8% of GDP in the developed economy. Higher management costs property costs within the economy, and makes it more expensive for retailers to ship goods to consumers.
• Source – Indian Express

4. About the Nebra Sky Disc:

Prelims Specific Topic:

• The British Museum in London has recently decided to exhibit an ancient artifact called the Nebra Sky Disc, which is considered to be the world’s oldest concrete exhibition.
• About 3,600 years ago, this disc was traditionally buried with two swords, axes, two horizontal arm rings, and a single copper plate near Nebra in Germany.
• The burial of these objects is thought to have taken place as a dedication to the gods.
• Source – Science Reporter Magazine