UPSC QUIZ 26.10.2023

Explanation:

• European Union Tax Observatory has released 'Global Tax Evasion Report 2024' highlighting several critical issues related to tax evasion, the Global Minimum Tax (GMT) on billionaires, and measures to combat tax evasion.
• The report investigates the effects of international reforms adopted over the past 10 years, such as the automatic international exchange of bank information, and the international agreement on a global minimum tax for MNCs, among other issues.
• Offshore tax evasion has decreased over the past decade. In 2013, 10% of the world's GDP was stored in global tax havens, but now only 25% of this wealth remains untaxed.
• However, challenges remain, including non-compliance by offshore financial institutions and limitations in the automatic exchange of bank information.

Explanation:

• Principal Scientific Advisor, India will set up a “high powered committee” to explore the development of Large Language Models (LLMs), tools that harness Artificial Intelligence to create applications that can understand and process human language.

Large Language Models

• LLMs : LLMs are a specific class of generative AI models that are trained to understand and generate human-like text.
• These models are built using deep learning techniques, particularly using neural networks.
• They can generate coherent and contextually relevant text given a prompt or input.
• One of the most well-known examples of LLMs is OpenAI's GPT (Generative Pre-trained Transformer).

Explanation:

• People of India will now be able to travel to neighboring country Sri Lanka without visa. The Cabinet of Sri Lanka has approved the proposal to allow travelers from seven countries including India to visit the country without visa. The decision has been taken as part of efforts to revive the debt-ridden island nation's tourism sector.

Key points

• Sri Lanka waived visa fees for tourists on 24 October 2023 to boost tourism and boost foreign exchange reserves in efforts to boost tourist arrivals and help rebuild the economy.
• India is traditionally Sri Lanka's top inbound tourist market.
• More than 2 lakh Indian tourists (which is 20% of total tourist arrivals) have visited Sri Lanka by September 2023.

Explanation:

• Department of telecommunications (DoT) has given an additional two months’ time to telecom operators for complying with the new SIM card sale rules.
• These rules were notified by the government in August 2023. The new rules will now kick in from December 1. Earlier, the deadline to comply with the rules was October 1.
• The new rules required telcos to register SIM card sellers and conduct their proper KYC before onboarding them into the system.The Department of Telecommunications (DoT) had discontinued the provision of bulk connections.Under the KYC reforms, the demographic details of the customer will be captured by scanning the QR code of the printed Aadhaar in case of taking new SIMs or applying for a fresh SIM on an existing number.
• Telcos will be penalised to the tune of Rs 10 lakh if they allow SIM card sellers to operate without registration after November 30.

Explanation:

• A joint bilateral training exercise “Exercise Harimau Shakti 2023” between the Indian and Malaysian Army commenced.
• The 5th Royal Battalion of Malaysian Army troops are participating in the exercise.
• A Battalion of ‘RAJPUT REGIMENT’ is taking part in the bilateral exercise from India.
• Around 120 personnel from both sides are participating in the exercise.
• Its main aim is to enhance military capability for conducting Multi-Domain Operations in a sub-conventional scenario.
• A Joint Command Post and an integrated surveillance grid along with a Joint Surveillance Centre will be also established.
• As part of the exercise, intelligence collection, collation and dissemination drills will be also conducted.