geography

Arctic Region and Arctic Council

The Arctic is a polar region located at the northernmost part of Earth.

8 Jul, 2020

BRAHMAPUTRA AND ITS TRIBUTARIES

About Brahmaputra River: The Brahmaputra called Yarlung

3 Jul, 2020
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    Current Affairs – 2nd February 2022

    1.    BUDGET TERMINOLOGIES

    • News: Finance Minister Nirmala Sitharaman on Tuesday proposed a 30% tax on income from virtual digital assets, such as cryptocurrencies and non-fungible tokens (NFTs).
    • About Non – Fungible Tokens:
      • A non-fungible token (NFT) is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger.
      • Types of NFT data units may be associated with digital files such as photos, videos, and audio. Because each token is uniquely identifiable, NFTs differ from blockchain cryptocurrencies, such as Bitcoin.
      • NFT ledgers claim to provide a public certificate of authenticity or proof of ownership, but the legal rights conveyed by an NFT can be uncertain.
      • NFTs do not restrict the sharing or copying of the underlying digital files, do not necessarily convey the copyright of the digital files, and do not prevent the creation of NFTs with identical associated files.
      • An NFT is a unit of data stored on a digital ledger, called a blockchain, which can be sold and traded.
      • The NFT can be associated with a particular digital or physical asset (such as a file or a physical object) and a license to use the asset for a specified purpose.
      • An NFT (and, if applicable, the associated license to use, copy or display the underlying asset) can be traded and sold on digital markets.
      • The extralegal nature of NFT trading usually results in an informal exchange of ownership over the asset that has no legal basis for enforcement, often conferring little more than use as a status symbol.
      • Ownership of an NFT does not inherently grant copyright or intellectual property rights to the digital asset a token represents.
      • While someone may sell an NFT representing their work, the buyer will not necessarily receive copyright privileges when ownership of the NFT is changed and so the original owner is allowed to create more NFTs of the same work.
      • About Central Bank Digital Currency (CBDC):
        The term central bank digital currency (CBDC) refers to the virtual form of a fiat currency.
      • A CBDC is an electronic record or digital token of a country’s official currency.
      • As such, it is issued and regulated by the nation’s monetary authority or central bank. As such, they are backed by the full faith and credit of the issuing government.
      • CBDCs can simplify the implementation of monetary and fiscal policy and promote financial inclusion in an economy by bringing the unbanked into the financial system. Because they are a centralized form of currency, they may erode the privacy of citizens.
    • Technical Terms: Most commonly used cryptocurrency tax calculation methods include highest in, first out (HIFO); last in, first out; and highest in, first out.
    • About Green Bonds:
      • A green bond is a fixed-income instrument designed specifically to support specific climate-related or environmental projects.
      • Green bonds may come with tax incentives to enhance their attractiveness to investors.
      • The World Bank is a major issuer of green bonds. It has issued 164 such bonds since 2008, worth a combined $14.4 billion.
    • About Natural Farming:
      • Natural farming also referred to as “the Fukuoka Method”, “the natural way of farming” or “do-nothing farming”, is an ecological farming approach established by Masanobu Fukuoka (1913–2008).
      • Fukuoka, a Japanese farmer and philosopher, introduced the term in his 1975 book The One-Straw Revolution. The title refers not to lack of effort, but to the avoidance of manufactured inputs and equipment.
      • Natural farming is related to fertility farming, organic farming, sustainable agriculture, agroecology, agroforestry, ecoagriculture and permaculture, but should be distinguished from biodynamic agriculture.
      • The system works along with the natural biodiversity of each farmed area, encouraging the complexity of living organisms—both plant and animal—that shape each particular ecosystem to thrive along with food plants.
    • About River Inter – linking Project:
      • The Indian Rivers Inter-link is a proposed large-scale civil engineering project that aims to effectively manage water resources in India by linking Indian rivers by a network of reservoirs and canals to enhance irrigation and groundwater recharge, reduce persistent floods in some parts and water shortages in other parts of India.
      • India accounts for 18% of the world population and about 4% of the world’s water resources. One of the solutions to solve the country’s water woes is to link rivers and lakes.
      • The Inter-link project has been split into three parts: a northern Himalayan rivers inter-link component, a southern Peninsular component and starting 2005, an intrastate rivers linking component.
      • The project is being managed by India’s National Water Development Agency Ministry of Jal Shakti.
      • NWDA has studied and prepared reports on 14 inter-link projects for Himalayan component, 16 inter-link projects for Peninsular component and 37 intrastate river linking projects.