Why in News

• The Russian, Chinese and Iranian navies conduct naval exercises CHIRU-2Q22 in the Gulf of Oman.

About Exercise

• The purpose of this drill is to strengthen security and its foundations in the region, and to expand multilateral cooperation between the three countries to jointly support world peace, maritime security and create a maritime community with a common future
• The maritime drills conducted in the northern parts of the Indian Ocean aimed at deepening practical cooperation among the navies of the three countries.
• The drills will include various tactical exercises such as rescuing a burning vessel, releasing a hijacked vessel, and shooting at air targets at night.

Why In News

• Apple has retained its position as the most valuable brand in 2022 as well, according to the Brand Finance 2022 Global 500 report. Following Apple, Amazon and Google have been named among the top-three most valuable brands in the year.
• The brand valuation of Apple was recorded at $355.1 billion in 2022, which is an increase of 35% from last year.
• This is the highest brand value ever recorded in the Brand Finance Global 500 ranking history.

Other key facts

• The Indian conglomerate Tata Group has emerged as the most valuable brand from India and also in South Asia.
• It is the only brand from the country in the top 100. The Global Rank of Tata Group 78. The brand value of Tata Group is US$23.9 billion.
• TikTok (18th) has been named the world’s fastest-growing brand in the list. Its brand value increased from US$18.7 billion in 2021 to US$59.0 billion in 2022.
• Tata Consultancy Services (TCS) has become the second most valuable brand in the IT services sector globally, While Infosys got third spot, Wipro (7th), HCL (8th), Tech Mahindra (15th) and LTI (22nd).
• Tech remained the most valuable industry in the list in terms of sector. This was followed by Retail, Banking, Media and Telecoms in top 5 respectively.

Why in News

• The Supreme Court asked 6,000-odd NGOs to go back to the government for redressal of their grievances on non-renewal of their Foreign Contribution Regulation Act (FCRA) registration.
• NGO Global Peace Initiative had petitioned the court that the NGOs should be allowed to continue receiving and utilising foreign funds until the pandemic is over.

Background

• The registration of thousands of NGOs was up for renewal in 2020-21. The Ministry had declined to renew the FCRA registration of 179 NGOs, while 5,789 associations did not apply for a renewal before the December 31 deadline.
• After the exercise, the number of active FCRA-registered NGOs is down from 22,762 to 16,907.

Why Registration approval cancelled?

• The government reserves the right to cancel the FCRA registration of any NGO if it finds it to be in violation of the Act.
• Registration can be cancelled if an inquiry finds a false statement in the application.
• It can also be cancelled if “in the opinion of the Central Government, it is necessary in the public interest to cancel the certificate”.
• Registrations are also cancelled when an audit finds irregularities in the finances of an NGO in terms of misutilisation of foreign funds.

How FCRA regulates NGO funding?

• FCRA regulates foreign donations and ensures that such contributions do not adversely affect the internal security of the country.
• The Act, first enacted in 1976 was amended in the year 2010 and then 2020.
• Section 5 of the Foreign Contribution (Regulation) Act, 2010 gives the Union government “unchecked and unbridled powers” to declare an organisation as being one of political nature and deny it access to funds from sources abroad.
• FCRA is implemented by the Ministry of Home Affairs.

Recent changes in FCRA

• Earlier, as per the FCRA 2010, only applicants such as directors who sought permission to receive foreign funds were required to make such a declaration.
• It has been made mandatory for office bearers and key functionaries and members to certify that they have not been “prosecuted or convicted” for “conversion” from one faith to another and for creating “communal tension and disharmony”.
• The Centre has amended in 2020 the Foreign Contribution (Regulation) Act and made Aadhaar a mandatory identification document for all the office-bearers, directors and other key functionaries of an NGO or an association eligible to receive foreign donations.
• The public servant and corporation owned or controlled by the government are among the list of entities who are not eligible to receive foreign donations.
• It also says that not more than 20% of the total foreign funds received could be defrayed for administrative expenses. Earlier the limit was 50%.

Who Cannot Receive Foreign Contribution?

• A host of entities are barred from receiving foreign funds, including election candidates, those connected with a registered newspaper, judges, government servants or employees of any entity controlled or owned by the government and members of any legislature.
• Political parties and their office bearers, too, are prohibited from receiving foreign funds.

About FCRA

• Government of India enacted the Foreign Contribution (Regulation) Act (FCRA) in the year 1976 with an objective of regulating the acceptance and utilisation of foreign contribution.
• The legislation aims to regulate the acceptance and utilisation of foreign contribution or foreign hospitality by certain individuals or associations or companies.
• It aims to prohibit funding for any activities detrimental to the national interest and for matters connected therewith.
• The act was majorly modified in 2010 with several amendments because many NGOs were found using illegal use of foreign funding.

Why In News

• The Air India strategic disinvestment transaction has been completed with Government.
• The Share Purchase Agreement (SPA) was signed on 25 October, 2021. Thereafter, Strategic Partner (Talace Pvt Ltd), Air India and the Government worked towards satisfying a set of conditions precedent defined in the SPA including approvals from anti-trust bodies, regulators, lenders, third parties, etc.

About Air India

• It was founded as Tata Airlines (division of Tata Sons Ltd) in 1932 by J R D Tata.
• In July 1946 it became a Public Ltd Company with the name of Air India.
• 49% of the stake in Air India was acquired by the Government of India in 1948 (with an option to purchase an additional 2%)
• The government nationalized the carrier in 1953 and passed the Air Corporations Act 1953, which provided the monopoly rights to Air India and its associates.
• In 2007 the decision to merge Air India with Indian Airlines to form NACIL (National Aviation Company of India Ltd) was taken.

Why in news?

• January 26 marks the celebration of International Customs Day (ICD) all across the world with the United Nations as the host.
• It is an annual event that is meant to acknowledge and appreciate the role that customs officials and agencies play in ensuring the smooth flow of goods across the world borders.

Theme

• The theme chosen by World Customs Organisation (WCO) for International Customs Day (ICD) is ‘Scaling up Customs Digital Transformation by Embracing a Data Culture and Building a Data Ecosystem’.

Why In News

• Lala Lajpat Rai’s birth anniversary is celebrated on 28th of January every year.

About the Lala Lajpat Rai

• He was born on 28th January, 1865 in a small village named Dhudike in Punjab’s Moga district.
• Lala Lajpat Rai was one of the greatest freedom fighters of India.
• He was also called ‘Punjab Kesari’ and ‘Lion of Punjab’.
• Was influenced by Swami Dayananda Saraswati and joined the Arya Samaj in Lahore.
• Along with Bipin Chandra Pal and Bal Gangadhar Tilak, he formed the Lal-Bal-Pal trio of extremist leaders.
• He was also involved with the Hindu Mahasabha.

Political

• He joined the Indian National Congress (INC) and participated in many political agitations in Punjab.
• For his political agitation, he was deported to Burma without trial in 1907 but returned after a few months because of lack of evidence.
• He founded the Home Rule League of America in 1917 in New York. In the USA, he worked to get moral support for the Indian independence movement from the international community.
• He was also elected President of the All India Trade Union Congress.
• He supported the non-cooperation movement of Gandhi at the Nagpur session of the Congress in 1920.
• He protested against the Rowlatt Act and the Jallianwala Bagh massacre that followed.
• He was elected deputy leader of the Central Legislative Assembly in 1926.
• In 1928, he moved a resolution in the assembly refusing cooperation with the Simon Commission since the Commission had no Indian members.

Social

• He founded Hindu Relief movement in 1897 to provide help to the famine -stricken people and thus preventing them falling into the clutches of the missionaries.
• He founded the Servants of People Society in 1921.

Literary

• His important literary works include Young India, England’s Debt to India, Evolution of Japan, India’s Will to Freedom, Message of the Bhagavad Gita, Political Future of India, Problem of National Education in India, The Depressed Glasses, and the travelogue ‘United States of America’.

Institutional

• He founded several institutions and organizations such as Hisar Bar Council, Hisar Arya Samaj, Hisar Congress, National DAV Managing Committee.
• He was the editor of the Arya Gazette, which he had founded.
• He co-founded the Punjab National Bank in 1894.

Death

• In 1928, he was leading a silent protest against the Simon Commission in Lahore when he was brutally lathi-charged by Superintendent of Police, James Scott. He died of injuries sustained a few weeks later.

Why In News

• Prime Minister Shri Narendra Modi hosted the first India-Central Asia Summit in virtual format on 27 January 2022.
• The virtual summit saw the participation of the five presidents — Kazakhstan’s Kassym-Jomart Tokayev, Uzbekistan’s Shavkat Mirziyoyev, Emomali Rahmon of Tajikistan, Turkmenistan’s Gurbanguly Berdimuhamedow and Sadyr Japarov of Kyrgyz Republic.
• This first India-Central Asia coincided with the 30th anniversary of establishment of diplomatic relations between India and Central Asian countries.

Why it is Important?

• Two days after China held a virtual summit with Central Asian countries, India too stepped in and Prime Minister Narendra Modi pitched for “an integrated approach for regional connectivity and cooperation for the next 30 years.
• The Leaders agreed to institutionalize the Summit mechanism by deciding to hold it every 2 years and also agreed on regular meetings of Foreign Ministers, Trade Ministers, Culture Ministers and Secretaries of the Security Council to prepare the groundwork for the Summit meetings.
• An India-Central Asia Secretariat in New Delhi would be set up to support the new mechanism.
• Prime Minister Modi also discussed the evolving situation in Afghanistan with the Central Asian leaders. The leaders reiterated their strong support for a peaceful, secure and stable Afghanistan with a truly representative and inclusive government.

Why in News

• The Union Budget 2022-23 is to be presented by the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman on 1st February, 2022 in Paperless form.
• To mark the final stage of the Union Budget making process, sweets were provided to the core staff due to undergo “lock-in” at their workplaces, instead of a customary Halwa ceremony every year.
• The Union Budget of 2021-22 was delivered in paperless form for the first time.
• A “Union Budget Mobile App” was also launched for hassle-free access of Budget documents.

Some interesting facts associated with the Union Budget

1947: First Union Budget

• The first Union Budget of independent India was presented by RK Shanmukham Chetty on November 26, 1947, just three months after the end of British rule.

First United-India Budget

• In 1949-50, John Mathai succeeded Shanmukham Chetty as the finance minister and presented the first united-India budget, including the financial statements for former princely states.

Maximum Union Budgets By A Minister

• Former finance minister Morarji Desai presented the Budget a record 10 times, between 1959 and 1969.

First Woman to Present Union Budget

• Indira Gandhi was the first woman finance minister to present the Union Budget in 1970. The then prime minister also held the finance portfolio.

Printing of Budget in Hindi

• Until 1955, the Union Budget was printed in English. The Congress then decided to print the Budget documents both in Hindi and English.

Printing of Budget

• The printing of the budget documents was initially done at the Rashtrapati Bhawan. But after some of the documents were leaked in 1950, the government shifted the printing to a press at Minto Road, New Delhi. In 1980, the printing was moved to a government press in North Block.

Merging of Railway Budget

• The Railway Budget used to be presented separately, a day before the presentation of the Union Budget. In 2017, the Narendra Modi government merged it with the Union Budget.

Longest Budget Speech

• Finance Minister Nirmala Sitharaman’s 2020 Budget speech lasted two hours and 40 minutes, which is considered a record.

Change in Time of Budget Presentation

• Following British tradition, the Union Budget in India used to be presented at 5 pm. The slot was changed to 11 am in 1999 during the tenure of then finance minister Jaswant Singh.

‘Bahi Khata’ Replaces Briefcase

• In 2019, Finance Minister Nirmala Sitharaman carried a ‘bahi khata’ (ledger) with the National Emblem printed on it to Parliament, in a departure from the standard practice of carrying a briefcase. Incidentally, the word Budget comes from French bougette, which means leather briefcase.

Paperless Budget

• In 2020, Finance Minister Nirmala Sitharaman read out her budget speech from a tablet. This was a first for a Union Budget, though Andhra Pradesh and Assam had started the practice in 2018. Many considered it a move by the minister to adapt to changing times and adjust to new technologies.

Change in Date

• Continuing with the colonial-era practice, the Union Budget used to be presented on the last working day of February. It was iIn 2017 when the tradition was changed. Then finance minister Arun Jaitley announced February 1 as the date for presentation of Union Budget thenceforth.

Why in news?

• The centre has been launched by Dronacharya awardee and Head national coach of Indian para-badminton team, Gaurav Khanna, along with Ageas Federal Life Insurance.
• The state-of-the-art, high-performance centre with advanced equipment and facilities in Lucknow aims to improve India’s medal chances at the 2024 Paralympics.

Why in News

• The Union Finance Ministry appointed Vinodanand Jha, a 1983-batch retired IRS officer as the chairperson of the Prevention of Money Laundering Act, 2002 (PMLA) Adjudicating Authority, New Delhi.

About Adjudicating Authority

• The Adjudicating Authority, under the PMLA, 2002 will safeguard the interests of the accused against violence. It functions within the Department of Revenue, Ministry of Finance.
• It is a three-member Authority (one each from the fields of ‘Law’, ‘Administration’ and ‘Finance or accountancy’) that is mandated to adjudicate the cases of attachment of assets orders issued under the PMLA, 2002.
• It can also order for further continuity, seizure or release of assets depending on the investigation.