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DAILY CURRENT AFFAIRS: 13 April 2024

Doctrine of Harmonious Construction

Why in News: The Supreme Court recently established eight principles by interpreting Sections 3 and 5 of the Limitation Act, 1963, in a manner that doesn’t endorse the delay of 5659 days in filing an appeal.Doctrine of Harmonious Construction

About Doctrine of Harmonious Construction

  • Interpretive Rule: Essential for understanding statutes.
  • Conflict Resolution: Calls for reconciling discrepancies within statutes or between provisions to ensure coherence.
  • Objective: Recognizes the legislative intent behind statutes and aims to maintain their effectiveness.

Key Principles

  • Operational Integrity: Legislature intends all provisions to be operative.
  • Avoidance of Nullification: Strives to prevent one provision from nullifying another.
  • Preservation of Effectiveness: Courts aim to uphold the efficacy of all provisions.
  • Conflict Resolution: Prioritizes interpretations that avoid conflicts and maintain consistency.
  • Judicial Responsibility: When reconciliation is impossible, courts must adjudicate to ensure statutory coherence.
  • Landmark Case: Commissioner of Income Tax v. M/S Hindustan Bulk Carriers (2000)

Guiding Principles:

  • Courts endeavor to harmonize conflicting provisions.
  • Avoidance of nullification unless reconciliation is unattainable.
  • Interpretations should give effect to both provisions as much as possible.
  • Redundancy of provisions is contrary to the essence of harmonious construction.
  • Preservation of statutory effectiveness is paramount.

Source: TH

 

GPT-4 Vision

Why in News: After its inception, OpenAI’s ChatGPT has made significant advancements and has recently unveiled API access to GPT-4, which incorporates vision capabilities.GPT4-Vision and its Alternatives. Introduction | by Nagesh Mashette | Medium

About GPT-4 Vision

  • Introduction to GPT-4V: Also known as GPT-4V, this feature enables users to direct GPT-4 to analyze images.
  • Multimodal Advancement: OpenAI sees this as a stride towards creating a chatbot that can process a mix of image, text, and audio inputs.
  • Visual Question Answering (VQA): Users can input images and inquire about them, a task termed visual question answering.

Features

  • Large Multimodal Model (LMM): GPT-4V is a Large Multimodal Model, capable of processing various input types like text and images or text and audio.
  • Visual Processing Capabilities: GPT-4V can handle diverse visual content such as photos, screenshots, and documents, identifying objects, interpreting data in visualizations, and more.
  • Text Interpretation in Images: It can analyze both handwritten and printed text within images, bridging the gap between visual comprehension and textual analysis.

Potential Application Fields

  • Research and Academia: Beneficial for researchers and academics, particularly in interpreting historical documents and manuscripts.
  • Web Development: Developers can translate visual designs into website code, even from sketches.
  • Data Analysis: Valuable for unlocking insights from visuals and graphics, aiding data interpretation.

Source: IE

 

Coordinated Lunar Time (LTC)

Why in News: In a recent development, the US White House formally instructed NASA to establish a standardized time system for the Moon. This system will serve as a reference point for international organizations and private enterprises to synchronize their operations on the lunar surface.Why the moon needs its own timezone: Scientists call for the creation of a  'Coordinated Lunar Time' as they reveal time moves 58.7 microseconds  quicker on our lunar satellite than on Earth |

About Coordinated Lunar Time (LTC)

  • Precision for Space Missions: LTC ensures accurate timekeeping for lunar spacecraft and satellites, crucial for their precise mission requirements.
  • Communication Coordination: It synchronizes communication between satellites, astronauts, bases, and Earth, facilitating seamless operations.

Need for LTC

  • Time Dilation on the Moon: Due to lower gravity, time on the Moon passes slightly faster relative to Earth, causing discrepancies in time measurements.
  • Potential Issues: These differences can pose challenges for spacecraft docking, data transfer, communication, and navigation.

Earth’s Time Standard Mechanism

  • Coordinated Universal Time (UTC): The world’s clocks and time zones are based on UTC, set by the International Bureau of Weights and Measures in Paris.
  • Atomic Clock Precision: UTC is determined by over 400 atomic clocks worldwide, measuring time based on the resonant frequencies of atoms like cesium-133.
  • Local Time Conversion: Countries adjust their local time by adding or subtracting hours from UTC based on their longitudinal position relative to the Greenwich meridian.

 

Funding Winter

Why in News: In 2023, funding from major international investors such as Accel, Peak XV Partners, Tiger Global, and Softbank experienced a significant decline, averaging around an 80% decrease. This downturn occurred within the Indian startup ecosystem during what was termed as the “funding winter.”How Long Will the Funding Winter Sustain For Indian Startups?

About Funding Winter

Funding winter signifies a period of market correction in capital influx, reducing the likelihood of startups attaining high valuations in the near to medium term.

  • Challenges for Founders: Start-up founders face difficulties in securing funding and achieving overly optimistic valuations.
  • Investor Caution: Investors tend to shy away from firms lacking a clear path to profitability, necessitating adjustments to start-up valuations.
  • Prioritizing Profitability: Start-ups must realign their focus on maximizing profits amidst the funding winter.

Effects of Funding Winter

  • Capital Preservation Measures: Start-ups adopt strategies to conserve working capital due to minimal investor funding expectations.
  • Halting Expansion Plans: Advertising expenses, capital outlays, and expansion initiatives are halted to enhance firm sustainability.
  • Cost Minimization: Only essential expenses vital for firm survival are incurred, with rigorous measures to eliminate unnecessary costs.

Nature of Funding Winter

  • Cyclical Phenomenon: Funding winter is not novel but rather a recurrent effect influenced by various market factors.
  • Factors Influencing: It can arise from broad market conditions like geopolitical unrest, monetary policies, or sector-specific issues.
  • Unpredictable Duration: The duration of a funding winter is uncertain and can persist for an extended period, contingent on multiple influencing factors.

Source: BS



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