UPSC Prelims
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Prelims Pinpointer
Prelims Pinpointer — August 16, 2026
Today’s 4 must-know Prelims facts: FAST-DS disclosure scheme, India’s lunar future with NASA, the Indonesia earthquake, and PM’s self-reliance roadmap.
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FAST-DS: Voluntary Disclosure Scheme for Foreign Assets
News Context
- The Central Board of Direct Taxes (CBDT) notified the Foreign Assets of Small Taxpayers–Disclosure Scheme (FAST-DS), announced in the Union Budget 2025.
- Online declarations are open until December 31.
Key Facts for Prelims
- Objective: Bring overseas holdings into the tax net and let eligible individuals regularise undisclosed foreign assets/income without further penalty or prosecution.
- Target Beneficiaries: Small taxpayers — students, young professionals, technology employees, and relocated NRIs.
- Tax structure: A 30% tax on the declared value, plus an equal additional amount, taking the effective levy to 60%.
Exam trap: total effective levy is 60% (30% tax + equal additional amount), not a flat 30%.
Source: The Hindu
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India’s Lunar Future & NASA’s Moon Base
News Context
- At the 9th India–US Civil Space Joint Working Group meeting (held at ISRO HQ), NASA invited ISRO to join its ‘Moon Base’ programme under the Artemis Accords partnership.
Moon Base Programme — Key Facts
- To be built near the Moon’s South Pole — chosen for longer sunlight availability and water-ice in permanently shadowed craters.
- Aims to be humankind’s first outpost on another celestial body, around 2030.
Artemis Accords
- A US-led (NASA) set of principles (2020) for peaceful, transparent, and cooperative exploration of the Moon, Mars, and beyond.
- India signed in 2023. It is non-binding; based on the Outer Space Treaty, 1967.
Related Concepts
- ILRS (International Lunar Research Station): A rival China–Russia-led lunar station (announced 2021), also planned near the South Pole, targeted for 2035; involves 17 countries.
- Cislunar Space: The region of space between the Earth and the Moon.
Source: The Hindu
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Indonesia Earthquake
News Context
- A powerful magnitude 7.7 earthquake, followed by dozens of aftershocks, struck off eastern Indonesia (East Nusa Tenggara), killing at least 47 people.
- A separate magnitude 6.4 quake hit North Sumatra the same day. The main quake’s epicenter was near Flores Island/Sikka Regency.
Why Indonesia Is Earthquake-Prone
- Pacific Ring of Fire: Indonesia lies on this horseshoe-shaped belt around the Pacific Ocean with intense seismic and volcanic activity.
- Plate Tectonics: Indonesia sits where the Indo-Australian, Eurasian, and Pacific plates meet; subduction of the Indo-Australian plate under the Eurasian plate causes frequent quakes.
About 90% of the world’s earthquakes occur along the Pacific Ring of Fire — Indonesia and Japan are among the most seismically active nations, both located on this belt.
Source: Indian Express
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Self-Reliance for Viksit Bharat: PM’s Roadmap
News Context
- On Independence Day, the PM placed self-reliance (Atmanirbharta) — especially in energy, semiconductors, and critical minerals — at the centre of the Viksit Bharat @2047 vision.
- Warned against the “weaponisation” of resources by some nations.
Key Facts for Prelims
- Strait of Hormuz: Nearly 40% of India’s oil, 50% of gas, and 90% of LPG imports pass through it.
- Energy Security: Push via nuclear energy and offshore oil & gas — India imports 88%+ of its oil.
- Semiconductors: Three plants already operational (exports begun); 5–8 more planned in the next 7–8 years.
Source: Indian Express