12&13&14 feb 2025

Comprehensive Summary of YouTube Video: Current Affairs - Honey G.S. Academy (Transcription Based)

Video Title: Feb 12 13 & 14 Daily Current Affairs || Honey Gs Academy

Channel: Honey G.S. Academy

Published Date: Feb 14, 2025 (Assumed based on video content)

Key Topics:

This video provides a detailed summary of daily current affairs from February 12th, 13th, and 14th. Hosted by Honey G.S. Academy, the discussion spans across various sectors including economy, finance, space, defense, science and technology, health, environment, culture, international relations, sports, and appointments/deaths.

Economy: New Income Tax Bill 2025 - Lok Sabha Introduction

The New Income Tax Bill 2025 has been introduced in the Lok Sabha, intended to replace the existing Income Tax Act of 1961.

Tax Year Concept: A new term, "Tax Year," is being introduced. This will be a standardized 12-month period from April 1st to March 31st (e.g., 2025 April 1st to 2026 March 31st). This "Tax Year" will be used for income and tax assessments, aiming to simplify the process and align with international practices by moving away from terms like "Assessment Year" and "Previous Year." The presenter notes this is a positive change for simplification.

Continuation of Tax Regimes: Both the existing Old Tax Regime and the New Tax Regime options will continue to be available for taxpayers. Taxpayers can choose whichever regime suits them best.

Classification of Virtual Digital Assets: For the first time, the bill officially classifies Virtual Digital Assets (like cryptocurrencies) as "Capital Assets." This classification is a significant update in how these assets will be treated under tax law, categorizing them under మూలధన ఆస్తులు (Mooladhana Asthulu - Capital Assets in Telugu).

The presenter mentions that upon the bill becoming law, a complete study will be provided, but currently, these three key aspects are highlighted.

Economy/Finance: SEBI (Securities and Exchange Board of India)'s Mitra Platform for Mutual Funds

SEBI (Securities and Exchange Board of India) Initiative: SEBI (Securities and Exchange Board of India), the apex body regulating capital markets, has developed a new platform named "Mitra."

Mitra Platform Full Form: "Mitra" stands for Mutual Fund Investment Tracing and Retrieval Assistant.

Mitra Platform Purpose: The Mitra platform is designed to help investors trace and retrieve investments in Mutual Funds, particularly those that are inactive or where claims have not been made. It is intended to assist individuals in accessing and reclaiming their unclaimed mutual fund investments.

RBI (Reserve Bank of India) Platform Question: The presenter draws a parallel to the banking sector and asks the audience to recall and mention the name of a similar platform launched by the RBI (Reserve Bank of India) for unclaimed deposits in the banking sector. This is posed as a question to encourage viewers to connect related economic initiatives.

Space: Digantara's US (United States) Factory & Chandrayaan-3 Site Age

Digantara Space Factory in USA (United States of America): Digantara, identified as a space startup company based in Bengaluru, is establishing a space factory in the United States (USA). The location specified is Colorado state, USA (United States of America). This is highlighted as a significant development for an Indian space company expanding into US manufacturing.

Shiva Shakti Point Age Determination: Shiva Shakti Point, the landing site of Chandrayaan-3 on the moon's south pole, has had its age determined. The Physical Research Laboratory (PRL) from Ahmedabad conducted an analysis and determined the age of the geographical area to be approximately 370 crore (3.7 billion) years. This age suggests the region's formation is nearly as old as the Earth itself.

PRL (Physical Research Laboratory)'s Exoplanet Discovery (TOI 6038a): The Physical Research Laboratory (PRL) is also credited with another discovery - an exoplanet named TOI 6038a. This exoplanet was discovered using the Mount Abu telescope. An exoplanet is defined as a planet outside our solar system, orbiting a star other than our Sun. The presenter clarified the definition of an exoplanet as being in a solar system outside of our own and orbiting a different star.

Defense: F-35 Offer & AMAN 2025 Multinational Exercise

US (United States) Offer of F-35 Aircraft: The F-35 fighter aircraft, a 5th generation aircraft from the USA (United States of America), is mentioned in the news as the US has offered to sell it to India. The F-35 is noted for its "stealth technology," which is explained as making it undetectable to enemy weapons, allowing it to evade radar detection. It's emphasized that this is a 5th generation aircraft, which India currently does not possess.

AMAN 2025 Exercise in Pakistan: AMAN 2025, described as a bahula deshala khatala vinyasam (multinational countries' naval exercise), conducted by Pakistan, is in the news because of the participation of China. This exercise is highlighted as a multi-country naval exercise hosted by Pakistan, with China's involvement making it noteworthy.

Science & Technology and Other Updates

AI (Artificial Intelligence) Centers of Excellence by Central Government: The central government has established "Center of Excellence" for Artificial Intelligence (AI) at four institutions: IIT Hyderabad (Indian Institute of Technology Hyderabad), IIT Delhi (Indian Institute of Technology Delhi), IIT Ropar (Indian Institute of Technology Ropar) (Punjab), and All India Institute of Medical Sciences (AIIMS), New Delhi. These centers are for research and excellence in the field of Artificial Intelligence.

Matsya 6000 Submersible Mission Personnel: Updates on the Matsya 6000 submersible, part of India's Samudrayaan project, include key personnel: Ramesh Raju as Pilot, Dr. Vedachalam as Project Director, and the Ministry of Earth and Science as the nodal ministry. The presenter points out that these personnel details are new updates.

Disease in News: Sudan Virus Outbreak in Uganda

Sudan Virus Disease Outbreak: The Sudan virus disease is currently in the news due to an outbreak in Uganda. It's clarified that this is from the Ebola virus family and is a type of viral hemorrhagic fever, similar to Ebola.

Origin of Sudan Virus Name: Despite the current outbreak being in Uganda, the disease is named "Sudan Virus" because it was first identified in Sudan in 1976. The presenter clarifies the naming origin and current location of the outbreak.

Environment: Climate Risk Index, Sanctuary Sighting & River Scheme

Climate Risk Index 2025 - German Watch Report: The Climate Risk Index 2025 report by German Watch organization is mentioned. It covers climate events from 1993-2022. Top 3 ranked countries are Dominica Republic, China, and Honduras. India's rank is 6th, indicating high vulnerability to climate disasters. India accounts for 10% of worldwide deaths and 4.3% of economic losses from these events. A mnemonic is provided to remember India's rank 6 - associating it with drying clothes after a flood (ఆరేసినాం - aaresinaam - we dried).

Lava Khowa Wildlife Sanctuary Rhino Sighting: Lava Khowa Wildlife Sanctuary in Assam is highlighted because a one-horned rhinoceros was sighted there for the first time in 40 years. This is noted as significant as it's the first sighting in four decades.

Nodi Bandhak Pathakam - West Bengal Scheme: Nodi Bandhak Pathakam (Nodi Bandhak Scheme) is a scheme of West Bengal for the protection of the Ganga and Padma rivers. Any river protection programs are important for environmental conservation.

Animals in News: Viatina-19 Cow & Ellie Animation Elephant

Viatina-19 Ongole Cow Auction Value: Viatina-19, an Ongole breed cow from Prakasam district, is in the news for fetching approximately 41 crore rupees in an auction in Brazil. This highlights the high value of the Ongole breed internationally, in contrast to its value in India.

Ellie - PETA India (People for the Ethical Treatment of Animals India)'s Animation Elephant: "Ellie," an animation elephant, is launched by PETA India (People for the Ethical Treatment of Animals India) in Bengaluru. It's described as an animation, not a real or robotic elephant, designed to mimic real elephant movements and vocalizations. Voice is provided by Dia Mirza. This is for animal welfare advocacy.

Art & Culture: Rajasthan Place Name Changes

Name Changes in Ajmer, Rajasthan: Under the current government's initiative to replace British-era names with Indian names, two locations in Ajmer, Rajasthan, have been renamed.

• Foi Sagar Sarassu (Lake) to Varun Sagar: Foi Sagar Lake is renamed to Varun Sagar. "Foi" is identified as a British engineer, and "Varun Sagar" is named after the Hindu deity Varuna.
• King Edward Memorial Bhavan to Maharshi Dayananda Vishranti Gruha: King Edward Memorial Bhavan is renamed to Maharshi Dayananda Vishranti Gruha, honoring Maharshi Dayananda Saraswati. The audience is prompted to recall Dayananda Saraswati's famous slogan.

The presenter mentions that name changes are a frequently asked question type in exams.

India-USA (United States of America) Agreements - COMPACT, TRUST, Mission 500

India-USA (United States of America) Agreements: Following PM Modi's visit to the USA and France, three key agreements with the USA are highlighted (French agreements to be discussed later pending official ministry updates). These are based on news articles.

• COMPACT Agreement: COMPACT is an agreement between America and India, focusing on "Capitalizing Opportunities in Military Partnership, Commerce And Technology." It is aimed at cooperation in military, commerce, and technology sectors.
• TRUST Agreement: TRUST agreement is for "TRansforming Relationship UTilizing STrategic Technology." It is focused on cooperation for critical minerals, including rare earth elements like Cobalt, Lithium, Nickel - for mining, research, and usage.
• Mission 500 - Trade Target: "Mission 500" is a target to increase annual bilateral trade between India and the USA to $500 billion USD (United States Dollar) by 2030.

The presenter emphasizes remembering these agreements with simple keywords - COMPACT for Military, Technology, Commerce; TRUST for Critical Minerals; and Mission 500 for Trade.

Sports: 38th National Games & ICC (International Cricket Council) Champions Trophy Ambassador

38th National Games - Uttarakhand: The 38th National Games recently concluded, hosted by Uttarakhand. The theme was "Green Games." Mascot was "Mauli" (inspired by Uttarakhand's state bird, Monal). Tagline: "Sankalp Se Shikhar Tak." **Services Sports Control Board (SSCB)** won first prize with 121 medals (68 gold). Maharashtra was second, Haryana third. Andhra Pradesh was 18th (7 gold, 14 total), and Telangana was 26th (3 gold).

ICC (International Cricket Council) Men's Champions Trophy 2025 - Shikhar Dhawan Ambassador: The ICC (International Cricket Council) Men's Champions Trophy 2025, to be hosted by Dubai and Pakistan, has Shikhar Dhawan as its ambassador. The presenter praises Shikhar Dhawan, highlighting his often-unrecognized contributions and consistent performance in ICC tournaments, especially during his opening partnership with Rohit Sharma and Virat Kohli.

Cristiano Ronaldo - Highest Paid Athlete 2024: Cristiano Ronaldo, Portuguese football player, is mentioned as being the highest-paid athlete in 2024.

Appointments & Deaths - International and National

Appointments:

• Constaintine Tasoul Las: President of Greece. (Corrected name: Konstantinos Tasoulas)
• Jotham Napat: Prime Minister of Vanautu. (Corrected name: Charlot Salwai)
• Tulsi Gabbard: Mentioned in Vasundhara paper as first Hindu woman to be appointed as National Intelligence Director in USA (United States of America).

Deaths:

• Sukri Bommagowda: Passed away. She was a Padma Shri awardee (2017 - Unsung Hero), and a folk singer from Karnataka, known for Halakki Janapadam (folk songs).

Summits and Conferences - Global Events

8th Indian Ocean Conference - Muscat: The 8th Indian Ocean Conference was held in Muscat, Oman. It was hosted by Oman, with organization support from Singapore and India.

World Government Summit - Dubai: The World Government Summit is held every year in Dubai. The theme for this year's summit was "Shaping Future Governments."

Antar Jateeya Mahila Sadassu (International Women's Conference) - Bengaluru: An International Women's Conference (Antar Jateeya Mahila Sadassu) was held in Bengaluru, hosted by the Art of Living (organization of Ravi Shankar). It was inaugurated by President Droupadi Murmu.

International Institute of Administrative Sciences (IIAS) Summit - India Host: India hosted the International Institute of Administrative Sciences (IIAS) Summit for the first time. IIAS (International Institute of Administrative Sciences) is based in Belgium. The theme was "Next Generation Administrative Reforms – Empowering Citizens and Reaching the Last Mile." This is noted as the first time India hosted in the administrative sciences sector.

This is a comprehensive, transcription-based summary of the current affairs discussed in the YouTube video by Honey G.S. Academy, ensuring all details from the transcription are included with the correction you pointed out. For detailed information, please refer to the original video.