UPSC Notes EPFO Labour Law

2021-08-03 04:46:54 ECONOMICS NOTES
The word ‘Economics’ was derived from two Greek words oikou (a house) and nomos (to manage).
Adam Smith is known as the father of Economics.
WHAT IS ECONOMICS
There are mainly three definitions of economics:-
A. Classical or wealth definition (Adam Smith)-1776 A.D :-
Adam smith (1723 – 1790), in his book “An Inquiry into Nature and Causes of Wealth of Nations” (1776) defined economics as the science of wealth. He explained how a nation’s wealth is created.

B. Neo-classical or welfare definition (Alfred Marshall )-1890 A.D :-
Alfred Marshall (1842 – 1924) wrote a book “Principles of Economics” (1890) in which he defined “Political Economy” or Economics is a study of mankind in the ordinary business of life;
According to Marshall, economics is a study of mankind in the ordinary business of life, i.e., economic aspect of human life.
Economics studies both individual and social actions aimed at promoting economic welfare of people

C. Modern or scarcity and choice definition (Lionel Robbins)-1932 A.D
Lionel Robbins published a book “An Essay on the Nature and Significance of Economic Science” in 1932. According to him, “economics is a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses”.

BRANCHES OF ECONOMICS
Micro Economics
Macro Economics

Micro Economics
(a) In order to satisfy various wants an individual buys good and services. To buy goods and services the individual has to pay some price from his limited amount of income. So the individual has to make a decision with regard to quantity of the good to be purchased at given price. He/she has to also decide the combination of different goods to buy given his/her income so that he/she can get maximum satisfaction as a buyer.
(b) An individual also sells goods and services as a seller. Here he has to take decision regarding the quantity of good to be supplied at a given price so that he/she can earn some profit.
(c) All of us pay price to buy a good? How does this price get determined in the market? Micro economics provides answer to this question.
(d) In order to produce a good an individual producer has to take decision as to how to combine the various factors

Macro Economics
The word macro means very large. In comparison to an individual, the society or the country or economy as a whole is very large. So the economic decisions taken at the level of the economy as whole are subject matter of macro economics. Take the example of the economic decisions taken by the government. We all know that the government represents the whole country, not just any individual. So the decisions taken by the government are meant for solving the problems of the whole society. For example government makes policies with respect to collection of taxes, expenditure on public goods and welfare activities etc. which affect the whole economy. “How do such policies work” is the subject matter of macro economics.
In micro economics we study the behavior of an individual as a buyer and seller. As buyer the individual spends money on goods and services which is called his/her consumption expenditure. If we add consumption expenditure of all individuals then we get idea of aggregate consumption expenditure of the whole society. Similarly aggregating incomes of individuals becomes total income of the country or national income.
Another example of macroeconomic issue is the study of inflation or price rise.
Inflation or price rise does not affect an individual only, but it affects the whole economy. So knowing its causes and effects as well as controlling it, come under the study of macro economics.
Similarly, problem of unemployment, economic growth and development etc. concern with the whole population of the nation and hence are covered under the study of macro economics. Open / Comment

2021-08-03 04:35:06 Current Affairs - 3 August 2021
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1. Meenakashi Lekhi leads Indian delegation at G20 Culture Ministers’ Meeting.
Meenakashi Lekhi, the Minister of State for Culture of India participated in the G20 Culture Ministers’ Meeting on behalf of the Government of India. The two-day meeting was hosted by Italy on July 29 and 30 July 2021, during their ongoing Presidency of G20 in 2021. At the end of the discussions, the G20 Ministers of Culture adopted the G20 Culture Working Group Terms of Reference.

2. PM Modi to launch e-RUPI digital payment solution.
Prime Minister Narendra Modi will launch e-RUPI, an e-voucher-based digital payment solution, via video conferencing. The e-RUPI initiative will be one of the programmes launched over the years to limit touchpoints between the government and the beneficiary and “ensure that the benefits reach its intended beneficiaries in a targeted and leak-proof manner”.

3. LIC Cards Services, IDBI Bank launch RuPay credit cards Lumine, Eclat.
LIC Cards Services Limited (LIC-CSL) has partnered with IDBI Bank to launch ‘Lumine’ Platinum Credit Card and ‘Eclat’ Select Credit Card on the RuPay platform. The cards will initially be available to LIC policyholders, agents, as well as employees of the corporation and its subsidiaries. The cards will offer a wide range of benefits to users.

4. India takes over UNSC presidency for August 2021.
India took over from France to assume the presidency of the United Nations Security Council (UNSC) for the month of August 2021. This is the first presidency for India during its 2021-22 tenure as a non-permanent member of the UNSC. Prime Minister Narendra Modi will be the first Indian PM to preside over a meeting of the UNSC.

5. Esteban Ocon wins Hungarian GP 2021.
Esteban Ocon, Alpine-Renault / France, has won the Hungarian Grand Prix 2021, held at the Hungaroring in Mogyoród, Hungary. This is the maiden F1 race win for Esteban Ocon. Sebastian Vettel (Aston Martin-Mercedes/Germany) came second. Lewis Hamilton (Mercedes-Great Britain) finished third.

6. Lamont Jacobs wins 100m gold in 9.80 seconds in Tokyo Olympics.
Italy’s Lamont Marcell Jacobs became the world fastest man alive, winning men’s 100m gold with a time of 9.80s.

7. World Masters gold medal winner Man Kaur passes away.
Multiple World Masters Championship gold medallist and multiple Asian Masters Championship medallist athlete 105-year-old, Man Kaur passed away. She started running and won her first medal in Chandigarh Masters Athletics meet in 2007 before she won the gold in 100 m as well 200 m race in the National Masters Athletics meet in 2011. Open / Comment

2021-08-03 04:35:06 करेंट अफेयर्स - 3 अगस्त 2021
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1. मीनाक्षी लेखी ने G20 संस्कृति मंत्रियों की बैठक में भारतीय प्रतिनिधिमंडल का नेतृत्व किया।
भारत की संस्कृति राज्य मंत्री मीनाक्षी लेखी ने भारत सरकार की ओर से G20 संस्कृति मंत्रियों की बैठक में भाग लिया। दो दिवसीय बैठक की मेजबानी इटली ने 29 जुलाई और 30 जुलाई 2021 को 2021 में जी20 की चल रही अध्यक्षता के दौरान की थी। चर्चा के अंत में, G20 संस्कृति मंत्रियों ने G20 संस्कृति कार्य समूह के संदर्भ की शर्तों को अपनाया।

2. पीएम मोदी लॉन्च करेंगे E-RUPI डिजिटल भुगतान समाधान।
प्रधान मंत्री नरेंद्र मोदी वीडियो कॉन्फ्रेंसिंग के माध्यम से ई-आरयूपीआई, एक ई-वाउचर-आधारित (e-voucher-based) डिजिटल भुगतान समाधान लॉन्च करेंगे। ई-आरयूपीआई पहल सरकार और लाभार्थी के बीच टचप्वाइंट को सीमित करने के लिए वर्षों से शुरू किए गए कार्यक्रमों में से एक होगी और "यह सुनिश्चित करेगी कि लाभ लक्षित और लीक-प्रूफ तरीके से अपने इच्छित लाभार्थियों तक पहुंचे"।

3. एलआईसी कार्ड सर्विसेज, आईडीबीआई बैंक ने लॉन्च किया RuPay क्रेडिट कार्ड Lumine, Eclat।
LIC कार्ड्स सर्विसेज लिमिटेड ने RuPay प्लेटफॉर्म पर 'Lumine' प्लेटिनम क्रेडिट कार्ड और 'Eclat' सेलेक्ट क्रेडिट कार्ड लॉन्च करने के लिए IDBI बैंक के साथ साझेदारी की है। कार्ड शुरू में एलआईसी पॉलिसीधारकों, एजेंटों के साथ-साथ निगम और उसकी सहायक कंपनियों के कर्मचारियों के लिए उपलब्ध होंगे। कार्ड उपयोगकर्ताओं को कई प्रकार के लाभ प्रदान करेंगे।

4. भारत ने संभाली अगस्त 2021 UNSC की अध्यक्षता।
भारत ने अगस्त 2021 के महीने के लिए संयुक्त राष्ट्र सुरक्षा परिषद की अध्यक्षता संभालने के लिए फ्रांस से पदभार ग्रहण किया। यूएनएससी के एक गैर-स्थायी सदस्य के रूप में अपने 2021-22 कार्यकाल के दौरान भारत के लिए यह पहला अध्यक्षपद है। प्रधान मंत्री नरेंद्र मोदी UNSC की बैठक की अध्यक्षता करने वाले पहले भारतीय पीएम होंगे।

5. इस्टेबैन ओकॉन ने जीता हंगेरियन ग्रां प्री 2021।
इस्टेबैन ओकॉन, अल्पाइन-रेनॉल्ट / फ्रांस, ने हंगरी के मोग्योरोड में हंगरोरिंग में आयोजित हंगेरियन ग्रांड प्रिक्स 2021 जीता है। इस्टेबैन ओकॉन की यह पहली F1 रेस जीत है। सेबस्तियन वेट्टल (एस्टन मार्टिन-मर्सिडीज/जर्मनी) दूसरे स्थान पर रहे। लुईस हैमिल्टन (मर्सिडीज-ग्रेट ब्रिटेन) तीसरे स्थान पर रहे।

6. लेमोंट जैकब्स ने टोक्यो ओलंपिक में 9.80 सेकंड में 100 मीटर का स्वर्ण जीता।
इटली के लैमोंट मार्सेल जैकब्स 9.80 सेकेंड के समय के साथ पुरुषों की 100 मीटर स्वर्ण पदक जीतकर दुनिया के सबसे तेज जीवित व्यक्ति बन गए।

7. विश्व मास्टर्स स्वर्ण पदक विजेता मान कौर का निधन।
मल्टीपल वर्ल्ड मास्टर्स चैंपियनशिप गोल्ड मेडलिस्ट और मल्टीपल एशियन मास्टर्स चैंपियनशिप मेडलिस्ट एथलीट 105 वर्षीय मान कौर (Man Kaur) का निधन हो गया। उन्होंने दौड़ना शुरू किया और 2007 में चंडीगढ़ मास्टर्स एथलेटिक्स मीट में अपना पहला पदक जीता, इससे पहले उन्होंने 2011 में नेशनल मास्टर्स एथलेटिक्स मीट में 100 मीटर के साथ-साथ 200 मीटर की दौड़ में स्वर्ण पदक जीता था। Open / Comment

2021-08-02 10:45:12 About DigiLocker

DigiLocker is an Indian digitization online service provided by Ministry of Electronics and Information Technology (MeitY), Government of India under its Digital India initiative. DigiLocker provides an account in cloud to every Aadhaar holder to access authentic documents/certificates such as driving license, vehicle registration, academic mark sheet in digital format from the original issuers of these certificates. It also provides 1GB storage space to each account to upload scanned copies of legacy documents.

Users need to possess an Aadhaar number to use DigiLocker. For sign-up, the Aadhaar number and the one-time password sent to the Aadhaar-registered mobile number, need to be entered.
The beta version of the service was rolled out in February 2015, and launched by Prime Minister Narendra Modi on 1 July 2015. The storage space provided was 100 MB initially, and was later increased to 1 GB. The individual file size for upload cannot exceed 10 MB.

There is also an associated facility for e-signing documents. The service is intended to minimise the use of physical documents, reduce administrative expenses, provide authenticity of the e-documents, provide secure access to government-issued documents and to make it easy for the residents to receive services.

➨ Structure of DigiLocker
Each user's digital locker has the following sections.

My Certificates: This section has two subsections:
Digital Documents: This contains the URI's of the documents issued to the user by government departments or other agencies.
Uploaded Documents: This subsection lists all the documents which are uploaded by the user. Each file to be uploaded should not be more than 10MB in size. Only pdf, jpg, jpeg, png, bmp and gif file types can be uploaded.
My Profile: This section displays the complete profile of the user as available in the UIDAI database.
My Issuer: This section displays the issuers' names and the number of documents issued to the user by the issuer.
My Requester: This section displays the requesters' names and the number of documents requested from the user by the requesters.
Directories: This section displays the complete list of registered issuers and requesters along with their URLs.


➨ Amendments to IT Act for Digital Locker
Digital Locker is not merely a technical platform. Ministry of Electronics and IT, Government of India also notified for Digital Locker. Amendments made to these rules in February 2017 state that the issued documents provided and shared through Digital Locker are at par with the corresponding physical certificates.

According to this Rule, – (1) Issuers may start issuing and Requesters may start accepting digitally (or electronically) signed certificates or documents shared from subscribers’ Digital Locker accounts at par with the physical documents in accordance with the provisions of the Act and rules made thereunder. (2) When such certificate or document mentioned in sub-rule (1) has been issued or pushed in the Digital Locker System by an issuer and subsequently accessed or accepted by a requester through the URI, it shall be deemed to have been shared by the issuer directly in electronic form. Open / Comment

2021-08-02 04:29:20 Environment Related Act
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Air (Prevention and Control of Pollution) Act, 1981

Biological Diversity Act, 2002

Environment (Protection) Act, 1986

National Environment Appellate Authority act -1997

Forest Conservation Act, 1980

Indian Forest Act, 1927

The National Environment Tribunal Act, 1995

National Green Tribunal Act, 2010

Noise Pollution rule, 2000

Protection of Plant Varieties and Farmers' Rights Act of 2001

Public Liability Insurance Act, 1991

Wildlife Protection Act of 1972

Water (Prevention and Control of Pollution) Act, 1974 Open / Comment

2021-08-02 04:26:07 Current Affairs - 2 August 2021
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1. World Breastfeeding Week 2021: 01 to 07 August
The World Breastfeeding Week (WBW) is marked every year in the first week of August, between 1 to 7 August, to raise awareness on the importance of breastfeeding for mothers and infants. The theme of the World Breastfeeding Week 2021 is “Protect Breastfeeding:A Shared Responsibility ”.

2. Muslim Women’s Rights Day: 01 August
In India, the “Muslim Women’s Rights Day” is celebrated across the nation on August 01 to celebrate the enactment of the law against Triple Talaq. The first Muslim Women’s Rights Day was observed in 2020. The law is formally called the Muslim Women (Protection of Rights on Marriage) Act, 2019.

3. World Lung Cancer Day: 01 August
Every year, the World Lung Cancer Day is observed on August 1 to raise awareness about the causes and treatment of lung cancer and highlight the issues of lack of sufficient research funding for the ailment.

4. Deepak Das takes charge as new Controller General of Accounts
Deepak Das took charge as the new Controller General of Accounts. Mr Deepak Das is the 25th officer to hold the position of Controller General of Accounts (CGA). He is a 1986-batch Indian Civil Accounts Service (ICAS) officer.

5. Vice Admiral SN Ghormade takes charge as Vice Chief of the Naval Staff
Vice Admiral SN Ghormade (AVSM, NM) assumed charge as the Vice Chief of Naval Staff. He succeeds Vice Admiral G Ashok Kumar who retired on July 31, 2021, after more than 39 years of illustrious service.

6. PV Sindhu secures bronze medal at Tokyo Olympic
Indian star shuttler PV Sindhu has secured a bronze medal at the Tokyo Olympic, defeating China’s He Bing Jiao in straight-game 21-13 and 21-15 in Women’s Singels.

7. Serum Institute Chairman Cyrus Poonawalla wins Lokmanya Tilak National Award
Dr Cyrus Poonawalla, Chairman of the Pune-based vaccine maker Serum Institute of India (SII), has been selected for the prestigious Lokmanya Tilak National Award for 2021. Mr Poonawalla has been named for his work during the COVID-19 pandemic, by manufacturing the Covishield vaccine. Open / Comment

2021-08-02 04:26:06 करेंट अफेयर्स - 2 अगस्त 2021
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1. विश्व स्तनपान सप्ताह 2021: 01 से 07 अगस्त
विश्व स्तनपान सप्ताह (WBW) हर साल अगस्त के पहले सप्ताह में, माताओं और शिशुओं के लिए स्तनपान के महत्व पर जागरूकता बढ़ाने के लिए, 1 से 7 अगस्त के बीच मनाया जाता है। विश्व स्तनपान सप्ताह 2021 का विषय "स्तनपान की रक्षा करें: एक साझा जिम्मेदारी" है।

2. मुस्लिम महिला अधिकार दिवस: 01 अगस्त
भारत में, "मुस्लिम महिला अधिकार दिवस" पूरे देश में 01 अगस्त को ट्रिपल तलाक के खिलाफ कानून के अधिनियमन का जश्न मनाने के लिए मनाया जाता है। पहला मुस्लिम महिला अधिकार दिवस 2020 में मनाया गया था। कानून को औपचारिक रूप से मुस्लिम महिला (विवाह पर अधिकारों का संरक्षण) अधिनियम, 2019 कहा जाता है।

3. विश्व फेफड़े का कैंसर दिवस: 01 अगस्त
फेफड़ों के कैंसर के कारणों और उपचार के बारे में जागरूकता बढ़ाने और बीमारी के लिए पर्याप्त शोध निधि की कमी के मुद्दों को उजागर करने के लिए हर साल 1 अगस्त को विश्व फेफड़े का कैंसर दिवस मनाया जाता है।

4. दीपक दास ने नए लेखा महानियंत्रक के रूप में कार्यभार संभाला
दीपक दास ने नए लेखा महानियंत्रक के रूप में कार्यभार संभाला। श्री दीपक दास लेखा महानियंत्रक (सीजीए) का पद संभालने वाले 25वें अधिकारी हैं। वह 1986 बैच के भारतीय सिविल लेखा सेवा अधिकारी हैं।

5. वाइस एडमिरल एसएन घोरमडे ने नौसेना स्टाफ के उप प्रमुख के रूप में कार्यभार संभाला
वाइस एडमिरल एसएन घोरमडे ने नौसेना स्टाफ के उप प्रमुख के रूप में पदभार ग्रहण किया। वह वाइस एडमिरल जी अशोक कुमार का स्थान लेंगे, जो 39 साल से अधिक की शानदार सेवा के बाद 31 जुलाई, 2021 को सेवानिवृत्त हुए थे।

6. पीवी सिंधु ने टोक्यो ओलंपिक में कांस्य पदक हासिल किया
भारतीय स्टार शटलर पीवी सिंधु ने महिला एकल में चीन की ही बिंग जिओ को सीधे गेम में 21-13 और 21-15 से हराकर टोक्यो ओलंपिक में कांस्य पदक हासिल किया है।

7. सीरम इंस्टीट्यूट के चेयरमैन साइरस पूनावाला ने जीता लोकमान्य तिलक राष्ट्रीय पुरस्कार
पुणे स्थित वैक्सीन निर्माता सीरम इंस्टीट्यूट ऑफ इंडिया के अध्यक्ष डॉ साइरस पूनावाला को 2021 के लिए प्रतिष्ठित लोकमान्य तिलक राष्ट्रीय पुरस्कार के लिए चुना गया है। श्री पूनावाला को COVID-19 महामारी के दौरान उनके काम के लिए नामित किया गया है। Open / Comment

2021-08-01 12:37:13 Insurance Regulatory and Development Authority
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The Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous, statutory body tasked with regulating and promoting the insurance and re-insurance industries in India. It was constituted by the Insurance Regulatory and Development Authority Act, 1999, an Act of Parliament passed by the Government of India. The agency's headquarters are in Hyderabad, Telangana, where it moved from Delhi in 2001.

IRDAI is a 10-member body including the chairman, five full-time and four part-time members appointed by the government of India.

➨Headquarters: Hyderabad
➨Chairman: Subhash Chandra Khuntia
➨Chief General Manager: V Jayanth Kumar


Structure
Section 4 of the IRDAI Act 1999 specifies the authority's composition. It is a ten-member body consisting of a chairman, five full-time and four part-time members appointed by the government of India. At present ( 1 Sept, 2018 ), the authority is chaired by Dr. Subhash C. Khuntia and its full-time members are Mrs T.L.Alamelu, K.Ganesh, Pournima Gupte, Praveen Kutumbe and Sujay Banarji.


The functions of the IRDAI are defined in Section 14 of the IRDAI Act, 1999, and include:

➨Issuing, renewing, modifying, withdrawing, suspending or cancelling registrations
➨Protecting policyholder interests
➨Specifying qualifications, the code of conduct and training for intermediaries and agents
➨Specifying the code of conduct for surveyors and loss assessors
➨Promoting efficiency in the conduct of insurance businesses
➨Promoting and regulating professional organisations connected with the insurance and re-insurance industry
➨Levying fees and other charges
➨Inspecting and investigating insurers, intermediaries and other relevant organisations
➨Regulating rates, advantages, terms and conditions which may be offered by insurers not covered by the Tariff Advisory Committee under section 64U of the Insurance Act, 1938 (4 of 1938)
➨Specifying how books should be kept
➨Regulating company investment of funds
➨Regulating a margin of solvency
➨Adjudicating disputes between insurers and intermediaries or insurance intermediaries
➨Supervising the Tariff Advisory Committee
➨Specifying the percentage of premium income to finance schemes for promoting and regulating professional organisations
➨Specifying the percentage of life- and general insurance business undertaken in the rural or social sector
➨Specifying the form and the manner in which books of accounts shall be maintained, and statement of accounts shall be rendered by insurers and other insurer intermediaries. Open / Comment