CURRENT-AFFAIRS

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• Totoko and Priya, the esteemed leaders of the Onge tribe in the Andaman Islands, celebrated the birth of their newborn son, expanding the tribe's population to a total of 136.
• The Onge Tribe:
  • Hailing from the Negrito racial lineage, the Onges are among India's most ancient tribes. They call Little Andaman Island their home, nestled in the southern reaches of the Andaman archipelago. Living a semi-nomadic lifestyle, they draw sustenance from the bounties of the ocean and the forest.
  • Unlike adherents of mainstream religions, the Onges don't adhere to rigid worship rituals or sacrificial rites. Instead, they hold unique beliefs, such as regarding pearly white teeth as harbingers of death, staining them red by chewing bark.
  • Their bodies and faces bear adornments of white and ochre clay, with special occasions calling for elaborate body ornamentation. Once the sole inhabitants of Goubalambabey (Little Andaman), their numbers dwindled drastically following encounters with British colonizers and Indian settlers, plummeting from 670 in 1900 to a mere 96 by the early 2000s.
  • In 1976, the Onge were resettled to ensure access to basic amenities and protection from the elements. Presently, they reside in Dugong Creek, a reserve on Little Andaman, though it pales in comparison to their original territory.
  • Sadly, the Onge tribe grapples with infertility issues, affecting over 40% of married couples, making them one of the world's least fertile communities.

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• Once again, the spotlight is on the US SM-6 missiles, as recent images surfaced of a US Navy F/A-18 Super Hornet equipped with an air-launched variant of the SM-6, also known as the RIM-174 missile.
• About Standard Missile 6 (SM-6):
  • The Standard Missile 6 (SM-6) stands out as a versatile weapon capable of fulfilling multiple roles including anti-air warfare, terminal ballistic missile defense, and anti-ship strike missions. Developed by Raytheon Company, a prominent US defense contractor, the SM-6 primarily serves the United States Navy.
• Having entered operational service in December 2014, the SM-6 represents a groundbreaking advancement in missile technology. Notable features include:
  • Unique multi-mission capability encompassing anti-air, anti-surface, and sea-based terminal defense functionalities.
  • Dimensions measuring 6.6 meters in length and 0.5 meters in diameter, with a weight of 1,500 kilograms and carrying a 64-kilogram blast fragmentation warhead.
  • Employing advanced signal processing and guidance technologies akin to the AMRAAM (Advanced Medium-Range Air-to-Air Missile), the SM-6 operates as an extended-range active missile (ERAM).
  • Utilizing both semi-active homing and active homing guidance systems, ensuring precise engagement with designated targets.

Boasting impressive ranges, with a published surface-to-air range of 240 kilometers and estimated ranges surpassing 463 kilometers, making it a formidable asset in naval warfare scenarios.

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• The Central Board of Indirect Taxes and Customs (CBIC) has extended an invitation to stakeholders to provide feedback on the draft 'Central Excise Bill, 2024'.
• About Central Board of Indirect Taxes and Customs (CBIC):
  • Formerly known as the Central Board of Excise and Customs, CBIC operates under the umbrella of the Department of Revenue within the Ministry of Finance, Government of India. It holds jurisdiction over all matters pertaining to indirect taxation in India.
  • CBIC's responsibilities encompass the formulation of policies concerning the imposition and collection of Customs, Central Excise duties, Central Goods & Services Tax (CGST), and Integrated Goods & Services Tax (IGST). Moreover, it actively combats smuggling and oversees the administration of Customs, Central Excise, CGST, IGST, and Narcotics within its purview.
  • As the apex administrative body, CBIC exercises authority over its subordinate entities, including Custom Houses, Central Excise and Central GST Commissionerates, and the Central Revenues Control Laboratory. It ensures the timely deposit of collected taxes into the public exchequer, encompassing taxes on both foreign and domestic travel.
  • CBIC's customs division oversees duty collection at various key locations such as international airports, seaports, custom houses, international air cargo stations, international inland container depots (ICDs), land customs stations, special economic zones (SEZs), and container freight stations (CFSs).

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• The count of high-net-worth individuals (HNWIs) in India surged by 12.2% in 2023 compared to the preceding year, as outlined in the World Wealth Report 2024 by the Capgemini Research Institute.
• About World Wealth Report 2024:
  • Released annually by the Capgemini Research Institute, the World Wealth Report encompasses data from 71 countries, representing over 98% of global gross national income and 99% of world stock market capitalization.
• Key Points:
  • Global HNWI wealth witnessed a growth of 4.7% in 2023, reaching a staggering $86.8 trillion, with the HNWI population soaring by 5.1% to 22.8 million worldwide.
  • HNWIs are defined as individuals possessing investable assets exceeding $1 million, excluding primary residences, collectibles, consumables, and consumer durables.
  • Segmented into three wealth bands—Ultra-HNWIs ($30 million or more), Mid-Tier Millionaires ($5-30M), and Millionaires Next Door ($1-5M)—the report delves into the nuanced aspects of wealth distribution.
  • Noteworthy performances in the APAC region were observed in India and Australia, with HNWI wealth growth recorded at 12.4% and 7.9%, and HNWI population growth at 12.2% and 7.8%, respectively. This growth was underpinned by resilient economies and robust equity market performances.
  • In India specifically, the HNWI count surged by 12.2% in 2023, culminating in a total population of 3.589 million.
  • Financial wealth among India's HNWIs saw a notable uptick of 12.4% in 2023, amounting to $1,445.7 billion compared to $1,286.7 billion in 2022.
  • Other economic indicators painted a positive picture for India, with a decrease in the unemployment rate to 3.1% in 2023 from 7% in 2022, a significant increase in market capitalization by 29.0%, and national savings rising to 33.4% of GDP in 2023 from 29.9% in 2022.