Insta–DART (Daily Aptitude and Reasoning Test) 28 November 2020

The world has come around to the view that democracy is essential for full human development. And only education and skill development can make this possible. Democracy cannot be sustained unless the electorate is well informed, chooses its leadership wisely, and this leadership is intellectually empowered by a multi-dimensional intelligence. The world view of economic development has completely changed: it is no longer believed to be driven by human labor, as Karl Marx said, or by capital, as Alfred Marshall stated, but is knowledge-driven. For application of knowledge, innovations are required, and for more original research, we need many more young minds at the frontier. Knowledge is gender neutral, and hence the 21st century offers a great opportunity to level the gender inequity of the last thousand years in India.

The youth require a mental faculty endowed with multi-dimensional intelligence. It is not adequate to foster cognitive intelligence alone — as is being done in India’s educational campuses today — but to also develop the other dimensions of intelligence: emotional, social, moral, spiritual, environmental, and innovational. India’s vast youth population is its demographic potential dividend, but only if equipped and enabled with this seven-dimensional intelligence. The nation must, therefore, structure a national education policy for the youth so that the seven dimensions of intelligence can be manifested in every young man and woman. Only then will the demographic dividend not be wasted. These seven dimensions constitute the ability of a person to live a productive life and for the national good. Hence, a policy for India’s youth has to be structured within the implied parameters of these dimensions.

The first parameter of such a policy is ability empowerment — the development of the seven types of intelligence. The second is a collective mindset about the legacy and future of the nation, which means knowing the correct de-falsified history of India. The third is the commitment to a social contract of rights and obligations such as a fundamental right to quality primary and secondary education, right to work, an obligation to compete for most positions of employment on merit, practice gender equality and place national interests above selfish interests. A national education policy is, therefore, a framework for the comprehensive growth of the nation’s young population, to enable them to be positioned in life for personal advancement as well as contribute to national greatness. India, however, lacks today a properly structured policy for development of its youth. As a result, many young people are led astray by drugs and crime.

According to the passage, democracy cannot be sustained in a country without:

The world has come around to the view that democracy is essential for full human development. And only education and skill development can make this possible. Democracy cannot be sustained unless the electorate is well informed, chooses its leadership wisely, and this leadership is intellectually empowered by a multi-dimensional intelligence. The world view of economic development has completely changed: it is no longer believed to be driven by human labor, as Karl Marx said, or by capital, as Alfred Marshall stated, but is knowledge-driven. For application of knowledge, innovations are required, and for more original research, we need many more young minds at the frontier. Knowledge is gender neutral, and hence the 21st century offers a great opportunity to level the gender inequity of the last thousand years in India.

The youth require a mental faculty endowed with multi-dimensional intelligence. It is not adequate to foster cognitive intelligence alone — as is being done in India’s educational campuses today — but to also develop the other dimensions of intelligence: emotional, social, moral, spiritual, environmental, and innovational. India’s vast youth population is its demographic potential dividend, but only if equipped and enabled with this seven-dimensional intelligence. The nation must, therefore, structure a national education policy for the youth so that the seven dimensions of intelligence can be manifested in every young man and woman. Only then will the demographic dividend not be wasted. These seven dimensions constitute the ability of a person to live a productive life and for the national good. Hence, a policy for India’s youth has to be structured within the implied parameters of these dimensions.

The first parameter of such a policy is ability empowerment — the development of the seven types of intelligence. The second is a collective mindset about the legacy and future of the nation, which means knowing the correct de-falsified history of India. The third is the commitment to a social contract of rights and obligations such as a fundamental right to quality primary and secondary education, right to work, an obligation to compete for most positions of employment on merit, practice gender equality and place national interests above selfish interests. A national education policy is, therefore, a framework for the comprehensive growth of the nation’s young population, to enable them to be positioned in life for personal advancement as well as contribute to national greatness. India, however, lacks today a properly structured policy for development of its youth. As a result, many young people are led astray by drugs and crime.

An empowered intellectual leadership involve:

The world has come around to the view that democracy is essential for full human development. And only education and skill development can make this possible. Democracy cannot be sustained unless the electorate is well informed, chooses its leadership wisely, and this leadership is intellectually empowered by a multi-dimensional intelligence. The world view of economic development has completely changed: it is no longer believed to be driven by human labor, as Karl Marx said, or by capital, as Alfred Marshall stated, but is knowledge-driven. For application of knowledge, innovations are required, and for more original research, we need many more young minds at the frontier. Knowledge is gender neutral, and hence the 21st century offers a great opportunity to level the gender inequity of the last thousand years in India.

The youth require a mental faculty endowed with multi-dimensional intelligence. It is not adequate to foster cognitive intelligence alone — as is being done in India’s educational campuses today — but to also develop the other dimensions of intelligence: emotional, social, moral, spiritual, environmental, and innovational. India’s vast youth population is its demographic potential dividend, but only if equipped and enabled with this seven-dimensional intelligence. The nation must, therefore, structure a national education policy for the youth so that the seven dimensions of intelligence can be manifested in every young man and woman. Only then will the demographic dividend not be wasted. These seven dimensions constitute the ability of a person to live a productive life and for the national good. Hence, a policy for India’s youth has to be structured within the implied parameters of these dimensions.

The first parameter of such a policy is ability empowerment — the development of the seven types of intelligence. The second is a collective mindset about the legacy and future of the nation, which means knowing the correct de-falsified history of India. The third is the commitment to a social contract of rights and obligations such as a fundamental right to quality primary and secondary education, right to work, an obligation to compete for most positions of employment on merit, practice gender equality and place national interests above selfish interests. A national education policy is, therefore, a framework for the comprehensive growth of the nation’s young population, to enable them to be positioned in life for personal advancement as well as contribute to national greatness. India, however, lacks today a properly structured policy for development of its youth. As a result, many young people are led astray by drugs and crime.

According to the passage, in a country economic development is driven by:

The NDA government’s Black Money Act may have so far managed to scoop up just the surface of the potentially retrievable unaccounted income. But the rhythm to unearth more illegal income seems to have been set. The CBI searches in State-run Bank of Baroda branches for `6,100-crore suspected black money transfer is perhaps the first major and concrete action against the ‘black sheep’ in years. Hopefully, the investigating agency and the special investigation team on black money will take this forward. The one-time compliance window for the declaration of foreign assets and income under the Black Money Act, which closed on September 30, saw just 638 declarations aggregating to `3,770 crore. Union Finance Minister Arun Jaitley was quick to warn those who did not declare unaccounted income to face the “consequences.” The CBI raid comes just a few days after Jaitley’s warning and if his categorical statement that bulk of the black money is within India is anything to go by, more such raids can be expected.

The Act is one of the crucial components of economic reforms announced last year and there’s an urgent need to step up efforts to retrieve stashed income, both within the country and abroad. With investor appetite losing sheen, economic growth slowing down and with India moving nowhere as far as its ease of doing business rank is concerned, the government is in a tight spot to act and now. Stringent norms on undisclosed income imply the country is not a ‘safe haven’ and will strengthen the moral fiber of our society. Importantly, income recovered from such sources is crucial for the government to steer its social programmes and fund public expenditure at a time when the country’s direct and indirect tax collections are below target. The Act can also be used to clean up the mess broiling at our public sector banks that are reeling under severe stressed assets and low recoveries.

Traditionally, stock markets too are often used to circulate black money. Be it via Participatory Notes, which allow investors to invest without having to register themselves, or channeling funds through tax havens like Mauritius or Singapore. While continuing to crack the whip on banks to trace the illicit money flow, the government should also focus on the markets.

According to the passage the Black Money Act is for:

The NDA government’s Black Money Act may have so far managed to scoop up just the surface of the potentially retrievable unaccounted income. But the rhythm to unearth more illegal income seems to have been set. The CBI searches in State-run Bank of Baroda branches for `6,100-crore suspected black money transfer is perhaps the first major and concrete action against the ‘black sheep’ in years. Hopefully, the investigating agency and the special investigation team on black money will take this forward. The one-time compliance window for the declaration of foreign assets and income under the Black Money Act, which closed on September 30, saw just 638 declarations aggregating to `3,770 crore. Union Finance Minister Arun Jaitley was quick to warn those who did not declare unaccounted income to face the “consequences.” The CBI raid comes just a few days after Jaitley’s warning and if his categorical statement that bulk of the black money is within India is anything to go by, more such raids can be expected.

The Act is one of the crucial components of economic reforms announced last year and there’s an urgent need to step up efforts to retrieve stashed income, both within the country and abroad. With investor appetite losing sheen, economic growth slowing down and with India moving nowhere as far as its ease of doing business rank is concerned, the government is in a tight spot to act and now. Stringent norms on undisclosed income imply the country is not a ‘safe haven’ and will strengthen the moral fiber of our society. Importantly, income recovered from such sources is crucial for the government to steer its social programmes and fund public expenditure at a time when the country’s direct and indirect tax collections are below target. The Act can also be used to clean up the mess broiling at our public sector banks that are reeling under severe stressed assets and low recoveries.

Traditionally, stock markets too are often used to circulate black money. Be it via Participatory Notes, which allow investors to invest without having to register themselves, or channeling funds through tax havens like Mauritius or Singapore. While continuing to crack the whip on banks to trace the illicit money flow, the government should also focus on the markets.

Which compliance rule helped in unearthing the black money?