Daily Current Affairs and News Analysis 14-02-2025

US Threatens Tariffs: Former US President Donald Trump has warned BRICS nations of a 100% tariff on all imports to the US if they proceed with launching a common currency.

Trump’s Stance: Trump declared “BRICS is dead,” dismissing its relevance and highlighting US leverage over the bloc. He views the group’s potential currency as a threat to the US dollar.

BRICS Background: BRICS (Brazil, Russia, India, China, South Africa, and now including Saudi Arabia, Iran, UAE, Egypt and Indonesia) aims to challenge the dominance of Western-led global institutions. It seeks greater economic cooperation and influence.

De-Dollarization Efforts: BRICS countries are actively discussing reducing dependence on the US dollar, promoting the use of local currencies for trade.

Trump’s Trade Strategy: Trump advocates for strict reciprocal tariffs, asserting that the US will impose equal tariffs on countries that tax US exports.

Global Tensions: Trump’s remarks exacerbate trade tensions, especially with major BRICS economies like China, India, and Russia.

• Why: The government was “satisfied that a situation had arisen that the “government of that State cannot be carried on in accordance with the provisions of the Constitution of India.” This comes after two years of ethnic violence.

Record-Breaking Sale: A cow of the Ongole breed named Viatina-19, sold for a record $4.82 million (approximately Rs 41 crore) at an auction in Brazil, making it the most expensive cow in the world.

Breed Origin and Characteristics: Ongole cattle are indigenous to the Prakasam district of Andhra Pradesh, India. They are known for their hardiness, disease resistance, and ability to thrive in harsh conditions. They are triple-purpose cattle, used for draught, milk, and meat.

Viatina-19’s Traits: Viatina-19 weighs 1,101 kg and exhibits superior genetics, strength, heat resistance, and a muscular build. She also won the “Miss South America” title at the

International Demand: Ongole cattle are highly valued internationally, particularly in Brazil, for dairy and breeding purposes, because of their unique traits.

Lack of Recognition in India: Despite the breed’s global success, it lacks recognition and support in India due to insufficient breeding programs and government initiatives. Indian farmers face challenges, and the breed’s potential is not being fully utilized domestically.

Expert Opinion: Manne Anjaneyulu, a cattle breeder, stated that India could regain its indigenous cattle breeds’ status through conservation efforts and genetic improvement programs.

New Concept Introduced: The Income Tax Bill 2025 introduces a new “Tax Year” concept.

Replacing the Assessment Year: The “Tax Year” will replace the current “Assessment Year” which is confusing for taxpayers.

Unified Financial Year: The Tax Year will align with the financial year (April 1 – March 31), the same period in which income is earned.

Eliminates Confusion: This change aims to remove confusion between the “Previous Year”

Simplified Tax Filing: Taxpayers can simply refer to the Tax Year, streamlining tax computation and filing processes.

International Alignment: The move brings India in line with international standards as many countries use a single tax year.

Easier Advance Tax Computation: Simplified advance tax calculations by using just the Tax Year, instead of navigating between the Previous Year and Assessment Year.

Example: Under current rules, income earned from April 1, 2024, to March 31, 2025, is the “Previous Year,” and the tax assessment in 2025-26 is based on income. The new bill simplifies this; for income earned from April 1, 2025, to March 31, 2026, it will simply be called the “Tax Year 2025-26”.

Rare Sighting: Researchers recorded the first-ever sighting of an adult black seadevil fish (Melanocetus johnsonii) in broad daylight, off the coast of Tenerife, Spain.

Deep-Sea Dweller: The black seadevil fish typically lives in the deep ocean, between 200 and 2000 meters deep, in areas of total darkness.

Appearance and Hunting: Known for its terrifying appearance, it has sharp teeth and a “fishing rod” (a bioluminescent lure) to attract prey.

“True-Blue Predator”: The black seadevil fish is a carnivorous predator that primarily feeds on small fish and invertebrates.

Unusual Location: The sighting near the coast was surprising, as previous encounters were limited to submarine footage, larvae, or dead specimens.

Why Near Surface: The reason for being near the surface is unknown, possibly due to illness, currents, or fleeing predators. The fish was injured and died a few hours after discovery.

Conservation Status: Classified as “Least Concern” on the IUCN Red List.

Discovery of Exoplanet: Scientists used the PARAS-2 Spectrograph to discover a new “sub-Saturn” exoplanet named TOI-6038A b.

• Why: This discovery expands our understanding of exoplanets and provides an opportunity to study planetary formation.

• PARAS-2 Spectrograph: It’s a state-of-the-art, high-resolution spectrograph located at the Mt Abu Telescope.

• Why: The PARAS-2 is a cutting-edge instrument, improving the capabilities of its predecessor.

• Capabilities: It operates in the 380-690 nm waveband and aims to detect super-Earth-like worlds. It has sub-m/s precision in radial velocity (RV).

• Why: These capabilities are crucial for detecting and characterizing exoplanets orbiting G and K dwarf stars.

• Significance: PARAS-2 is the highest-resolution spectrograph in Asia.

• Why: This makes it a valuable tool for astronomical research.

• “Sub-Saturn” Exoplanet: TOI-6038A b is in a transition region, unlike any planet in our solar system.

• Why: Studying this unique exoplanet offers insight into planetary formation and evolution, offering a rare opportunity for deeper understanding.

BrahMos NG Development: The next-generation BrahMos NG missile is nearing its first flight test in 2026, with production slated to start in 2027-28. This signifies a significant advancement in India’s defense capabilities.

Joint Development: It’s a joint project between India and Russia. This collaborative approach leverages expertise from both nations, streamlining technology and efficiency.

Enhanced Features:

• Smaller, lighter, and more compact than its predecessor, allowing it to fit on a wider range of platforms, including the Sukhoi-30MKI and LCA Tejas.
• Weighs 1.6 tonnes (vs. 3 tonnes of the older version) and is 6 meters long (vs. 9 meters).
• Maintains a range of 290 km and a speed of up to 3.5 Mach, offering potent offensive capabilities.
• Features a reduced radar cross-section for enhanced stealth, making it harder to detect.
• Equipped with a domestically-produced seeker and AESA radar for improved precision.

Export Potential: India is actively pursuing export deals for the BrahMos missile system. A deal with Indonesia is in advanced stages and could be worth around $450 million. This signals India’s growing influence in the global defense market.

Platform Compatibility: It is compatible with various platforms (air, sea, and land), increasing its utility.

Other countries interest: Several African and West Asian countries have shown interest in the missile system.

India’s Rank: India ranks sixth among the top 10 countries most affected by extreme weather events from 1993-2023, according to the Climate Risk Index (CRI). This indicates a high vulnerability to climate-related disasters.

What the CRI is: The CRI, published by Germanwatch, assesses the impacts of climate-related extreme weather events. It’s a backward-looking index measuring economic and human impacts, including fatalities, injuries, and homelessness. It considers the impact of events on the countries.

Methodology: The CRI uses data from the International Disaster Database (EM-DAT) and socio-economic data from the International Monetary Fund (IMF) to rank countries based on the degree of impact.

India’s Impacts: Since 1993, India has faced over 400 extreme weather events, resulting in $180 billion in losses and at least 80,000 fatalities. Floods, heatwaves, and cyclones have been major contributors to these impacts.

Notable Events: Devastating floods (1993, 1998, 2013), and severe heatwaves (2002, 2003, 2015) have significantly impacted India. The Gujarat and Odisha cyclones and cyclones Hudhud and Amphan caused fatalities and economic losses.

Global Context: Globally, climate-related events have caused over 765,000 fatalities and $4.2 trillion in economic losses. The CRI also provides insights into which countries have been affected the most by extreme events in the past year.