Today in History (September 7^th, 1940)

On September 7, 1940, Nazi Germany began its eight-month blitz of Britain during World War II with the first air attack on London. On this date: In 1901, the Peace of Beijing ended the Boxer Rebellion in China. In 1943, a fire at the Gulf Hotel, a rooming house in Houston, claimed 55 lives.

Let’s Revise

A) Currently which Finance Commission is going on?

1. 15th
2. 17th
3. 18th
4. 16th

Answer: D)
Rationale: The 16th Finance Commission of India was constituted on December 31, 2023, with Dr. Arvind Panagariya as its Chairman. The President of India appointed the Commission in pursuance of Article 280(1) of the Constitution
B) Who is the chairperson of 16th Finance Commission of India?

1. P. Rajesh Shastri
2. K. Shridharan
3. Rohit Shankaran
4. Dr. Arvind Panagariya

Answer: D)
Rationale: The Sixteenth Finance Commission (FC-XVI) was constituted on December 31 2023 with Dr. Arvind Panagariya as the Chairman. The Terms of Reference of the Commission (ToR) this time are limited to those mandated in Article 280 of the Constitution and, therefore, much shorter than those of the previous Commissions.
C) The President of India appointed the Commission in pursuance of Article ____ of the Constitution.

1. 251
2. 215
3. 212
4. 280

Answer: D)
Rationale: The President of India appointed the Commission in pursuance of Article 280(1) of the Constitution
D) The Personal Income Tax in India is collected by ____

1. State governments
2. State govt. and Union govt.
3. Only Union government
4. It depends upon the recommendation of the Finance Commission

Answer: C)
Rationale: The Central Government of India imposes taxes such as personal income tax, corporate tax, customs duty, central excise duty, income tax, and service tax. The state governments impose income tax on agricultural income, state excise duty, professional tax, land revenue and stamp duty.
E) The Corporate Tax is collected in India by ______

1. Finance Commission
2. District Collector
3. Union government
4. State government

Answer: C)
Rationale: The Central Government of India imposes taxes such as personal income tax, corporate tax, customs duty, central excise duty, income tax, and service tax. The state governments impose income tax on agricultural income, state excise duty, professional tax, land revenue and stamp duty.
F) The financial relations between the Union government and State government have been mentioned in which part of the Indian Constitution?

1. XII
2. X
3. IX
4. XIV

Answer: A)
Rationale: Article 280, Part-XII of the Indian Constitution states that the President shall, within two years from the commencement of this Constitution and thereafter at the expiration of every fifth year or at such earlier time as the President considers necessary, by order constitute a Finance Commission which shall consist of a Chairman and four other members to be appointed by the President.
G) The 15th Finance Commission recommended how much share of tax to states?

1. 45%
2. 50%
3. 56%
4. 41%

Answer: D)
Rationale: The 15th Finance Commission recommended 41% tax distribution to states.
H) Who was the chairman of First Finance Commission in India?

1. Arvind Kumar
2. Om Prakash
3. Rajendra Gupta
4. K.C. Neogy

Answer: D)
Rationale: K.C. Neogy was the chairperson of the First Finance Commission of India. s

Summary of Today’s News

Quad summit in September

• India will not host the Quad Summit this year, as leaders will meet in the U.S., at a special summit ahead of UN meetings later this month.
• According to the sources, Ministry of External Affairs (MEA) officials have confirmed participation in the summit,
• U.S. President Joe Biden, Japanese Prime Minister Fumio Kishida, and Australian Prime Minister Anthony Albanese to be hosted by Prime Minister Narendra Modi on September 21, when he travels to New York ahead of the UN Summit of the Future, the UN General Assembly, and a diaspora event.
• This is the first time India will host the Quad Summit, which was upgraded to the leadership level in 2021.

The International Police Organisation (Interpol)

The Central Bureau of Investigation (CBI) chief sair that Interpol had issued a record number of Red Notices last year, 100, the highest ever, on India’s request.
Key points about Interpol
• The International Criminal Police Organization (INTERPOL), commonly known as Interpol, is an international organization facilitating international police cooperation against cross-border terrorism, trafficking, and other crime.
• It is the world’s largest international police organization, representing 195 member countries.
• It is headquartered in Lyon, France.
• Official Languages: Arabic, English, French, and Spanish.
• Status: It is ‘not’ a unit or part of a united nation system. It is an independent international organization.
• It is often the first point of contact for many countries pursuing an international investigation. It does not actively investigate crimes.
Governance of INTERPOL:
• The General Assembly, consisting of one delegate from each member country, is Interpol’s supreme decision-making body.
• Interpol’s day-to-day operation is managed by a General Secretariat under the direction of a Secretary General, who is appointed for a five-year term by the General Assembly.
• An Executive Committee of 13 members, each representing a different region of the world, is appointed by the General Assembly at its annual meeting.
• The Executive Committee oversees the implementation of decisions made by the General Assembly and supervises the work of the secretary general.
National Central Bureau (NCB):
• It has an NCB in each member country, which is the central point of contact for both the general secretariat and the other NCBs around the world.
• Each NCB is run by police officials of that country and usually sits in the government ministry responsible for policing. (Union Home Ministry in India.)
• The Central Bureau of Investigation (CBI) represents Interpol in India as the country’s NCB.
Types of Notices issued by Interpol:
• It issues 8 types of notices (7 of which are colour-coded) which are in the form of alerts/requests allowing police in member countries to share critical crime-related information.

Red Notice:
To seek the location and arrest of a person wanted by a judicial jurisdiction or an international tribunal with a view to his/her extradition. It is the “closest instrument to an international arrest warrant”.
Blue Notice:
To locate, identify, or obtain information on a person of interest in a criminal investigation.
Green Notice:
To warn about a person’s criminal activities if that person is considered to be a possible threat to public safety.
Yellow Notice:
To locate a missing person or to identify a person unable to identify himself/herself.
Black Notice:
To seek information on unidentified bodies.
Orange Notice:
To warn of an event, a person, an object, or a process representing an imminent threat and danger to persons or property.
Purple Notice:
To provide information on modus operandi, procedures, objects, devices, or hiding places used by criminals.
Interpol-UNSC Special Notice:
To inform Interpol’s members that an individual or an entity is subject to UN sanctions.