Protecting peatlands can help attain climate goals
Context :
The Food and Agriculture Organization operating under United Nations released a report recently on Peatlands.
The report says that though Peatlands cover only 3% of the earth’s surface, they trigger the carbon that were locked in a few decades.
Key findings :
- Peatlands cover only three per cent of Earth’s surface. However, their degradation due to drainage, fire, agricultural use and forestry can trigger release of the stored carbon in a few decades.
- Peatlands contain 30 per cent of the world’s soil carbon. When drained, these emit greenhouse gases, contributing up to one gigaton of emissions per year through oxidation, according to the report.
What are Peatlands :
Peatlands are formed due to accumulation of decomposed plant remains. These remains stay accumulated over thousands of years due to water-logging. In tropical climate peatlands occur in mangrove forests. They are dominated by mosses in arctic regions.
Mapping peatlands :
Peatlands are formed due to the accumulation of partially decomposed plant remains over thousands of years under conditions of water-logging. To prevent their further degradation, these areas should be urgently mapped and monitored.
“Peatland mapping tells us where the peat is and what condition it is in. Together, with conservation and restoration measures, mapping also helps in maintaining water regulation services (reduction of flood intensities) and biodiversity
Restoration measures :
- Indonesia has 40% of tropical peatlands. The Indonesian Government created Peat Ecosystem Restoration Information System (PRIMS) that provides information about Peatlands and their restoration.
- In the Himalayan region, restoration works of peatlands were conducted in order to increase water security in the region.
- According to an ICIMOD report, the total peat area, excluding China, in the HKH region was 17,106 square kilometres in 2008. The degrading peat area was 8,236 square kilometres.
Peatlands in India :
In India, peatlands occupy 320 square kilo metres to 1,000 square kilo metres area.
Indian Institutes of Information Technology Laws (Amendment) Bill, 2020
Context :
Lok Sabha passed the Indian Institutes of Information Technology Laws (Amendment) Bill, 2020
Key Facts :
- The Bill will encourage IIITs to promote the study of Information Technology in the country through innovative and quality methods
- It will amend the principal acts of 2014 and 2017.
- It will grant statutory status to five Indian Institutes of Information Technology in Public Private Partnership mode at Surat, Bhopal, Bhagalpur, Agartala and Raichur and declare them as Institutions of National Importance along with already existing 15 Indian Institutes of Information Technology under the Indian Institutes of Information Technology (Public-Private Partnership) Act, 2017.
Background :
(i) IIITs are envisaged to promote higher education and research in the field of Information Technology.
(ii) Under the Scheme of Setting up of 20 new IIITs in Public Private Partnership (IIIT PPP) mode as approved by the Union Cabinet on 26.11.2010, 15 IIITs are already covered by the IIIT (PPP) Act, 2017, while remaining 5 IIITs are to be included under the Schedule of the Act.
Implementation Strategy and targets :
The objective of the present proposal is for formalization of IIITs at Surat, Bhopal, Bhagalpur, Agartala and Raichur. After passage of the Act by the Parliament, they will be covered under the IIIT (PPP) Act, 2017, similar to the other 15 IIITs established under the scheme in PPP mode.
No. of beneficiaries :
The emerging needs of the industry and the economy, as a whole for skilled technical manpower is expected to be met from the talent pool of trained personnel of the institutes.
“Most chemical pesticides comsumption” report : (PAN)
Context :
“Most chemical pesticides comsumption” report has been released by the non-profit Pesticide Action Network (PAN).
Key Findings :
- Maharashtra consumed the most chemical pesticides in India in the past five years at 61,138 tonnes, followed by Uttar Pradesh (UP) at 52,747 tonnes and Punjab at 29,394 tonnes.
- Maharashtra increased its pesticide consumption by 35.6 per cent between 2014-15 and 2018-19, while UP reported an increase of 14.17 per cent.
- Pesticide consumption across the country grew by 13.07 per cent between 2014-15 and 2017-18, according to the report by PAN. Biopesticides accounted for only 10 per cent of the total pesticides consumed, on an average.
- The number of active ingredients registered for use also increased by 27 per cent to 292 in 2019 from 230 in 2011.
- The total amount produced by the country was 212,699 tonnes, while 111,176 tonnes was imported. The total amount exported, however, was shown to be 410,070 tonnes, which is a negative gap of 88,378 tonnes.
About PAN :
PAN India is the regional branch of PAN, an international coalition of non-profit organisations working towards reducing dependence on toxic chemicals in agriculture.
National Policy on Skill Development
Context :
On March 20, 2020, Ministry of Skill Development and Entrepreneurship presented the update on National Policy on Skill Development in Rajya Sabha.
Recognizing the need for skill development, National Skill Development Policy was formulated in 2009.
Highlights :
The following initiatives have been taken under the policy by the Ministry since 2015.
- The Pradhan Mantri Kaushal Vikas Yojana was launched under the policy. It provides short term skill training to the youth.
- Notification of common norms for bringing about uniformity and standardization in implementation of various skill development schemes by different Central Ministries/Departments.
- SANKALP-Skills Acquisition and Knowledge Awareness for Livelihood Promotion. It is a project supported by World Bank. It focuses on apprenticeship training and support ITIs.
- Sector Skill Councils were set up under National Occupation Standards. The Councils aim at improving the productivity of workers and reduce their skill gaps.
- STRIVE-The Strengthening for Industrial Value Enhancement scheme was launched under the policy. It aims to improve the skills of workers through industrial training institutes.
National Policy on Skill Development :
The Policy was launched in 2009 and was upgraded in 2015. The Policy aims at providing umbrella framework that will link skills and demand.
World Sparrow Day
Context :
World Sparrow Day is observed on 20th March. It is observed every year. The day aims to raise awareness about the importance of sparrows in the ecosystem. It also conveys the message of conservation of sparrows that are disappearing faster than other common birds.
Theme :
The theme for the 2020 World Sparrow Day is ‘I Love Sparrow.’ The day aims to teach the public about the threat of polluted urban environments and non-caring humans to the house sparrow population and to other common bird species.
History :
The World Sparrow Day was initiated by the founder of The Nature Forever Society, Mohammed Dilawar. He also started many projects, including the BiodiverCity Photo Competition, the annual Sparrow Awards, Project Save Our Sparrows, and the Common Bird Monitoring of India program. The first World Sparrow Day was observed in the year 2010. In 2011, the World Sparrow Awards were instituted. The award recognizes the individuals who have made the biggest contributions toward conserving the environment and protecting common species.
Country-by-Country (CbC) Report
Context :
With Central Board of Direct Taxes(CBDT) notifying rules for furnishing “Country-by-Country Report” (CbC) specifying information pertaining to all large multinational enterprises (MNEs), the Finance Ministry has said that Joint Director of Income-tax (Risk Assessment)-1 has been designated as the Income-tax Authority before whom particulars of the parent entity and alternate reporting entity would be notified.
Background :
The Organisation for Economic Cooperation and Development (OECD) has developed an Action Plan called “Base Erosion and Profit Shifting (BEPS) Action Plan 13” to ensure that a multinational enterprise would report its profit correctly where it is earned.
What is a Country-by-Country (CbC) Report :
The Base Erosion and Profit Shifting (BEPS) Action 13 report (Transfer Pricing Documentation and Country-by-Country Reporting) provides a template for multinational enterprises (MNEs) to report annually and for each tax jurisdiction in which they do business the information set out therein. This report is called the Country-by-Country (CbC) Report.
This information enables an enhanced level of assessment of tax risk by both tax administrations.
What CBC contains :
- Aggregated country-by-country information relating to the global allocation of income, the taxes paid, and certain other indicators of a multi-national company.
- A list of all the constituent entities of the multi-national company operating in a particular jurisdiction and the nature of the main business activity of each constituent entity.
What is BEPS :
Base erosion and profit shifting refers to the phenomenon where companies shift their profits to other tax jurisdictions, which usually have lower rates, thereby eroding the tax base in India.
India in July 2019 ratified the international agreement to curb base erosion and profits shifting (BEPS)– Multilateral Convention to Implement Tax Treaty Related Measures.
About the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting:
The Convention is an outcome of the OECD / G20 BEPS Project to tackle base erosion and profit shifting through tax planning strategies that exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax locations where there is little or no economic activity, resulting in little or no overall corporate tax being paid.
Overview and significance of the convention :
- The Convention implements two minimum standards relating to prevention of treaty abuse and dispute resolution through Mutual Agreement Procedure.
- It will be applied alongside existing tax treaties, modifying their application in order to implement the BEPS measures.
- The Convention ensures consistency and certainty in the implementation of the BEPS Project in a multilateral context. The Convention also provides flexibility to exclude a specific tax treaty and to opt out of provisions or parts of provisions through making of reservations.
Sources: pib