26th July 2024 Daily Current Affairs
1. Which day is observed as ‘National Income Tax Day’ every year?
[B] 24 July
[C] 25 July
[D] 26 July
Correct Answer: B [24 July]
Notes:
Since 2010, India observes National Income Tax Day on July 24, commemorating the first imposition of income tax by Sir James Wilson in 1860. The day highlights the importance of timely tax payments for national development. The first observance marked the 150th anniversary in 2010. The Income Tax Act of 1922 established the framework for direct tax administration, later consolidated by the 1961 Act after Independence.
2. National Mission on Cultural Mapping (NMCM), recently seen in the news, is a scheme administered by which ministry?
[A] Ministry of Finance[B] Ministry of Culture
[C] Ministry of Defence
[D] Ministry of Agriculture
Correct Answer: B [Ministry of Culture]
Notes:
The National Mission on Cultural Mapping (NMCM), overseen by the Ministry of Culture, aims to catalog the cultural heritage of 6.5 lakh villages across India. This initiative includes creating a comprehensive database of artists, art forms, and resources on an IT-enabled platform. Objectives include raising cultural heritage awareness, mapping villages’ cultural profiles, creating national artist registers, and developing a web portal and mobile app for cultural engagement.
3. What is the primary goal of the MSME-TEAM Initiative, recently seen in news?
[B] To onboard five lakh MSMEs onto the ONDC platform
[C] To provide training for MSME employees
[D] To develop new marketing strategies for MSMEs
Correct Answer: B [To onboard five lakh MSMEs onto the ONDC platform]
Notes:
The Ministry of MSME launched the “MSME Trade Enablement and Marketing Initiative” (MSME-TEAM Initiative) under the RAMP scheme. It aims to assist five lakh MSMEs, including two and a half lakh women-owned MSEs, in onboarding the Open Network Digital Commerce (ONDC) platform. The initiative offers financial assistance for catalogue preparation, logistics, and packaging. Awareness workshops will target Tier 2 and Tier 3 cities. The sub-scheme runs until March 2027.
4. Carbon Border Adjustment Mechanism (CBAM), recently seen in the news, is related to which organization?
[A] European Union[B] ASEAN
[C] NATO
[D] World Bank
Correct Answer: A [European Union]
Notes:
The Economic Survey noted the European Union’s Carbon Border Adjustment Mechanism (CBAM) conflicts with the Paris Agreement’s spirit. CBAM is an EU tariff on carbon-intensive products, ensuring imported goods pay for their carbon emissions, aligning their carbon price with domestic products. EU importers must buy carbon certificates based on embedded emissions. This encourages cleaner production globally by pricing carbon emissions fairly. CBAM aims to prevent undermining the EU’s climate objectives.
5. What is the primary objective of the Digital Postal Index Number (DIGIPIN), recently mentioned in news?
[A] To create a new postal code system[B] To replace traditional addresses with QR codes
[C] To implement a new mail sorting system
[D] To establish a standardized, geo-coded addressing system in India
Correct Answer: D [To establish a standardized, geo-coded addressing system in India]
Notes:
The Department of Posts launched the beta version of DIGIPIN, a geo-coded addressing system developed with IIT Hyderabad. DIGIPIN aims to simplify addressing for public and private services by creating and sensing geo-locations of addresses. This system will enhance public service delivery, emergency response, and logistics efficiency. It will serve as a robust pillar of Geospatial Governance and can be used as a base layer for various ecosystems requiring accurate addressing.
