{"id":155329,"date":"2025-02-13T19:31:29","date_gmt":"2025-02-13T14:01:29","guid":{"rendered":"https:\/\/pwonlyias.com\/stage\/?post_type=current-affairs&#038;p=155329"},"modified":"2025-02-13T19:31:29","modified_gmt":"2025-02-13T14:01:29","slug":"news-in-shorts-13-february-2025","status":"publish","type":"current-affairs","link":"https:\/\/pwonlyias.com\/stage\/current-affairs\/news-in-shorts-13-february-2025","title":{"rendered":"News in Shorts: 13 February 2025"},"content":{"rendered":"<h2 style=\"text-align: center;\"><span style=\"font-size: 18pt;\"><strong>S\u1e5bjanam Rig<\/strong><\/span><\/h2>\n<p><span style=\"font-weight: 400;\"><b>Context: <\/b>Union Minister for Science &#038; Technology launched<\/span><b> India\u2019s first indigenous Automated Biomedical Waste Treatment Plant<\/b><span style=\"font-weight: 400;\">, named <\/span><b>S\u1e5bjanam, at AIIMS, New Delhi.<\/b><\/p>\n<h3><span style=\"font-size: 16pt;\"><b>About S\u1e5bjanam<\/b><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">S\u1e5bjanam is an automated, eco-friendly biomedical waste treatment rig designed to disinfect pathogenic medical waste without incineration.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Developed by: <\/b><span style=\"font-weight: 400;\">CSIR-NIIST <\/span><b>(National Institute for Interdisciplinary Science and Technology), <\/b><span style=\"font-weight: 400;\">Thiruvananthapuram.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Ministry<\/b><span style=\"font-weight: 400;\">: Under <\/span><b>Ministry of Science &#038; Technology<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Implemented by:<\/b><span style=\"font-weight: 400;\"> AIIMS in collaboration with CSIR.<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-size: 16pt;\"><b>Working of S\u1e5bjanam Rig<\/b><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Uses non-incineration technology<\/b><span style=\"font-weight: 400;\"> to disinfect biomedical waste such as <\/span><b>blood, urine, and lab disposables.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Employs a <\/span><b>specialized antimicrobial process to neutralize pathogens.<\/b><\/li>\n<li><span style=\"font-weight: 400;\">Converts <\/span><b>treated waste into safe organic material<\/b><span style=\"font-weight: 400;\">, reducing hazardous emissions and environmental impact.<\/span><\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 18pt;\"><strong>Tobin Tax<\/strong><\/span><\/h2>\n<p><b>Context: <\/b><span style=\"font-weight: 400;\">Trump&#8217;s administration is reassessing U.S. capital investment policy to address the U.S. trade deficit and alleged currency manipulation, with some economists proposing a Tobin-style tax as a potential solution.<\/span><\/p>\n<h3><span style=\"font-size: 16pt;\"><b>About Tobin Tax<\/b><\/span><\/h3>\n<ul>\n<li><span style=\"font-weight: 400;\">It is a<\/span><b> small tax on international currency transactions <\/b><span style=\"font-weight: 400;\">to enhance currency stability.<\/span><\/li>\n<li><b>Proposed by: <\/b><span style=\"font-weight: 400;\">James Tobin (1972), a Nobel Laureate economist.<\/span><\/li>\n<li><b>Also known as:<\/b><\/li>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Financial Transactions Tax (FTT)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Robin Hood tax (informal name)<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Purpose<\/b><span style=\"font-weight: 400;\">: To reduce excessive speculation and stabilize global financial markets.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Application: <\/b><span style=\"font-weight: 400;\">Imposed on spot currency trades to:<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Penalize short-term currency trading.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Stabilize markets by discouraging rapid, speculative trades.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Reduce volatility in cross-border financial flows.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Often described as:<\/b><span style=\"font-weight: 400;\">\u00a0 A mechanism to<\/span><b> \u201cthrow sand in the wheels\u201d <\/b><span style=\"font-weight: 400;\">of currency flows, slowing volatility.<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-size: 16pt;\"><b>How Would a Tobin Tax Work?<\/b><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Example: <\/b><span style=\"font-weight: 400;\">Suppose a 0.005% tax is imposed on currency exchange transactions.<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">If a company exchanges $1 million from Indian Rupees to U.S. Dollars, it would pay a $50 tax.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>Impact<\/b><span style=\"font-weight: 400;\">: Since global currency <\/span><b>transactions occur at a massive scale<\/b><span style=\"font-weight: 400;\">, even a <\/span><b>small tax could generate trillions in revenue <\/b><span style=\"font-weight: 400;\">for the U.S. government.<\/span><\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 18pt;\"><strong>Einstein Ring<\/strong><\/span><\/h2>\n<p><b>Context: <\/b><span style=\"font-weight: 400;\">The<\/span><b> European Space Agency\u2019s (ESA<\/b><span style=\"font-weight: 400;\">) Euclid Space Telescope discovered an<\/span><b> Einstein ring <\/b><span style=\"font-weight: 400;\">around the galaxy<\/span><b> NGC 6505, <\/b><span style=\"font-weight: 400;\">\u00a0located 590 million light-years from Earth.<\/span><\/p>\n<h3><span style=\"font-size: 16pt;\"><b>About Einstein Ring<\/b><\/span><\/h3>\n<ul>\n<li><b>Naming: <\/b><span style=\"font-weight: 400;\">An Einstein ring is a<\/span><b> circular formation of light <\/b><span style=\"font-weight: 400;\">around a <\/span><b>massive celestial body.<\/b>\n<ul>\n<li><span style=\"font-weight: 400;\">The<\/span><b> first Einstein ring<\/b><span style=\"font-weight: 400;\"> was discovered in<\/span><b> 1987,<\/b><span style=\"font-weight: 400;\"> and since then, several more have been discovered.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>Formation<\/b><span style=\"font-weight: 400;\">: It occurs due to<\/span><b> gravitational lensing<\/b><span style=\"font-weight: 400;\">, a phenomenon where <\/span><b>light from a distant object bends under the gravitational pull<\/b><span style=\"font-weight: 400;\"> of a massive object lying between the source and the observer.<\/span>\n<ul>\n<li><span style=\"font-weight: 400;\">This effect magnifies, distorts, and sometimes multiplies the background object\u2019s appearance.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">In this case, th<\/span><b>e gravitational lens is NGC 6505<\/b><span style=\"font-weight: 400;\">, which bent and amplified light from a distant unnamed galaxy located <\/span><b>4.42 billion light-years away.<\/b>\n<ul>\n<li><span style=\"font-weight: 400;\">A<\/span><b> light-year<\/b><span style=\"font-weight: 400;\"> is approximately 9.46 trillion km, the<\/span><b> distance light travels in one year.<\/b><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li><b>Nomenclature: <\/b><span style=\"font-weight: 400;\">Einstein rings are named after <\/span><b>Albert Einstein<\/b><span style=\"font-weight: 400;\">, whose <\/span><b>general theory of relativity <\/b><span style=\"font-weight: 400;\">predicted that <\/span><b>light could bend and brighten around objects across the cosmos.<\/b><\/li>\n<\/ul>\n<h3><span style=\"font-size: 16pt;\"><b>Significance of Studying Einstein Rings<\/b><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Helps Study Dark Matter<\/b><span style=\"font-weight: 400;\">: Dark matter<\/span><b> constitutes 85% of the universe <\/b><span style=\"font-weight: 400;\">but is invisible as it does not interact with light.<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Since dark matter affects gravity, gravitational lensing provides indirect evidence of its existence.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Provides Insights on Distant Galaxies<\/b><span style=\"font-weight: 400;\">: Many galaxies are too faint or distant to observe directly.<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Einstein rings act as<\/span><b> natural magnifying glasses<\/b><span style=\"font-weight: 400;\">, making these galaxies visible.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>Helps Understand Universe Expansion:<\/b><span style=\"font-weight: 400;\"> By studying Einstein rings, scientists can analyze the stretching of space between galaxies, contributing to research on cosmic expansion.<\/span><\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 18pt;\"><b>Sole lottery distributor not liable to pay service tax: Supreme Court<\/b><\/span><\/h2>\n<p><b>Context: <\/b><span style=\"font-weight: 400;\">The <\/span><b>Supreme Court<\/b><span style=\"font-weight: 400;\"> in a recent judgement has held that a<\/span><b> sole distributor who purchases lottery tickets from a State government for onward sale<\/b><span style=\"font-weight: 400;\">s is not liable to pay service tax.<\/span><\/p>\n<h3><span style=\"font-size: 16pt;\"><b>About The Verdict<\/b><\/span><\/h3>\n<ul>\n<li><span style=\"font-weight: 400;\">The verdict <\/span><b>dismissed the appeals filed by the Union government against a Sikkim High Court decision,<\/b>\n<ul>\n<li><b>It <\/b><span style=\"font-weight: 400;\">declared the<\/span><b> clause (zzzzn) of the Section 65(105) of the Finance Act, 1994<\/b><span style=\"font-weight: 400;\"> as inserted by the Finance Act, 2010 as unconstitutional.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>Clause (zzzzn) of the Section 65(105) of the Finance Act, 1994<\/b><span style=\"font-weight: 400;\">: It introduced the activity <\/span><b>of \u201cpromotion, marketing, organising or in any other manner assisting in organising game of chance, including lottery\u201d as a taxable s<\/b><span style=\"font-weight: 400;\">ervice.<\/span><\/li>\n<li><b>Respondents: Future Gaming Solutions<\/b><span style=\"font-weight: 400;\"> and other lottery distributors were the respondents in this case.<\/span><\/li>\n<li><b>Argument:<\/b><span style=\"font-weight: 400;\"> The respondents argued that <\/span><b>lottery was an act of betting and gambling which came under the State Lis<\/b><span style=\"font-weight: 400;\">t therefore the centre had no jurisdiction to levy tax through a Central law.<\/span><\/li>\n<li><b>The Verdict:<\/b>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>Principal-Principal Relation:<\/b><span style=\"font-weight: 400;\"> A sole <\/span><b>purchaser\/distributor\/promoter <\/b><span style=\"font-weight: 400;\">when buys lottery tickets from the State government for onward sales a<\/span><b>cts on its own right as a principa<\/b><span style=\"font-weight: 400;\">l and<\/span><b> not as an agent of the State.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">The relationship between the State and the distributor is not that of a principal-agent,<\/span><b> but that of principal-principal.<\/b><\/li>\n<li><b>Service Tax: <\/b><span style=\"font-weight: 400;\">Since there is<\/span><b> no service rendered by the lottery distributor to the State,<\/b><span style=\"font-weight: 400;\"> no service tax will be\u00a0 leviable between the distributor and the State.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<div class=\"vc_table_green\"><\/p>\n<table style=\"width: 99.6375%;\">\n<tbody>\n<tr>\n<td style=\"width: 111.19%; text-align: center;\" colspan=\"2\"><span style=\"font-size: 18pt;\"><b>Also Read<\/b><\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 49.797%; text-align: center;\"><a href=\"https:\/\/pwonlyias.com\/stage\/editorial-analysis\/\" target=\"_blank\" rel=\"noopener\"><b>UPSC Daily Editorials<\/b><\/a><\/td>\n<td style=\"width: 61.393%; text-align: center;\"><a href=\"https:\/\/pwonlyias.com\/stage\/daily-current-affairs\/\" target=\"_blank\" rel=\"noopener\"><b>UPSC Daily Current Affairs<\/b><\/a><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 49.797%; 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About S\u1e5bjanam S\u1e5bjanam is an automated, eco-friendly biomedical waste treatment rig designed to disinfect pathogenic medical waste without incineration. Developed by: CSIR-NIIST (National Institute for Interdisciplinary Science and Technology), Thiruvananthapuram. Ministry:&hellip; <a class=\"more-link\" href=\"https:\/\/pwonlyias.com\/stage\/current-affairs\/news-in-shorts-13-february-2025\">Continue reading <span class=\"screen-reader-text\">News in Shorts: 13 February 2025<\/span><\/a><\/p>\n","protected":false},"author":11,"featured_media":155337,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"tags":[],"paper-wise":[],"subject":[],"acf":[],"_links":{"self":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/current-affairs\/155329"}],"collection":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/current-affairs"}],"about":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/types\/current-affairs"}],"author":[{"embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/comments?post=155329"}],"version-history":[{"count":2,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/current-affairs\/155329\/revisions"}],"predecessor-version":[{"id":155341,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/current-affairs\/155329\/revisions\/155341"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/media\/155337"}],"wp:attachment":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/media?parent=155329"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/tags?post=155329"},{"taxonomy":"paper-wise","embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/paper-wise?post=155329"},{"taxonomy":"subject","embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/subject?post=155329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}