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Current Affairs 20 March 2019 Digest 2: GST Council approves transition plan for new tax rates for real estate sector; SpiceJet joins global airlines grouping IATA

5 hrs ago
The builders will be given a one-time option to continue with the old tax rate of 8 percent or 12 percent with input tax credit (ITC) on ongoing projects where construction and actual booking started before April 1, 2019 and have not been completed by March 31, 2019.

Current Affairs 20 March 2019 Digest 1: Pinaki Chandra Ghose appointed as India's first Lokpal; IBBI, SEBI sign MoU for better implementation of IBC

6 hrs ago
India gets its first Lokpal six years after the passage of Act, former Supreme Court judge, Pinaki Chandra Ghose was on March 19, 2019 appointed as India’s first Lokpal also known as the anti-corruption ombudsman.

Current Affairs 18 March 2019 Digest 4:Government increases incentives of Central Government staff for acquiring higher qualifications; Who is Pinaki Chandra Ghose?

1 day ago
A sum of Rs 20,000 will be given for earning post graduate degree or diploma within one year or less and these qualification having duration of more than one year will hold Rs 25,000 as incentives for the employees.

Current Affairs 16 March 2019 Digest 1: Lok Sabha Election 2019: Registration of political parties; RBI issues Guidelines to prevent market abuse

Mar 16, 2019
The Election Commission of India (ECI) announced the schedule of the Lok Sabha Election 2019 and elections to the State Assemblies of Andhra Pradesh, Orissa, Arunachal Pradesh on March 10, 2019.

RBI categorises IDBI Bank as Private Sector Bank; SBI, ICICI and HDFC remain Systemically Important Banks

Mar 15, 2019
In January 2019, the Life Insurance Corporation of India (LIC) completed the process of picking up a controlling stake of 51 percent in the IDBI Bank. The deal concluded after the approval of the Union Cabinet on August 1, 2018.

Corporate Affairs Ministry releases national guidelines on responsible business conduct

Mar 13, 2019
The Corporate Affairs Ministry has released the National Guidelines on responsible business conduct and revised the National Vountary Guidelines on social, environmental and economic responsibilities of business, 2011.

States’ Budget 2019: Meghalaya CM Conrad Sangma presents Tax-Free Deficit Budget for 2019-20

Mar 13, 2019
Meghalaya Chief Minister Conrad K Sangma, who also holds the finance portfolio of the state, presented the budget 2019-20 on March 12, 2019.

Regional Air Connectivity- UDAN: CCEA approves revival of un-served and under-served air strips

Mar 8, 2019
The revival of these un-served and under-served air strips will be carried out at the total cost of Rs 4500 crore with the budgetary support of the Union Government under the Regional Connectivity Scheme (RCS) - UDAN (Ude Desh ka Aam Naagrik).

NABL launches quality assurance scheme for basic composite medical laboratories

Mar 7, 2019
NABL has launched a new quality assurance scheme for sensitising small laboratories to basic doable quality practices. The scheme will help to bring quality at the grass root level of India’s health system where laboratories follow the imperatives of quality in all their processes.

Cabinet approves new measures to promote Hydro Power Sector

Mar 7, 2019
The Union Cabinet has approved measures to promote the Hydro Power Sector, which include declaring large hydropower projects as a renewable energy source. As per the existing practice, only hydropower projects less than 25MW are categorized as a renewable energy source.

India, World Bank sign $250 million agreement to boost rural income

Mar 6, 2019
The Indian Government has signed a $250 million loan agreement with the World Bank for the National Rural Economic Transformation Project that aims to promote women-owned and women-led farm and non-farm enterprises across value chains.

India, Brunei sign pact on exchange of tax information

Mar 3, 2019
The Union Government and Brunei have signed an agreement for the Exchange of Information and Assistance in Collection with respect to Taxes in New Delhi on February 28. The agreement provides for mutual assistance in collection of tax revenue claims between both countries.

Textiles Minister launches scheme for development of knitwear sector

Mar 2, 2019
The Union Ministry of Textiles has launched a comprehensive scheme for the development of knitting and knitwear sector under PowerTex India in New Delhi. Knitting is a major segment in the entire textile value chain.

Centre, ADB sign 926 million dollar loan agreement to operationalise two lines of Mumbai Metro

Mar 2, 2019
The Union Government has signed a 926 million dollar loan agreement to operationalise two of the Mumbai Metro Rail System. The move will ease the distress of millions of commuters each day and help provide a cleaner and less congested city.

Afghanistan begins export to India through Chabahar port

Feb 26, 2019
Afghanistan has begun exporting goods to India for the first time through Iran’s Chabahar port, bypassing the Pakistan route. Twenty-three trucks carrying 570 tonnes of dried fruits, textiles, carpets and mineral products were dispatched from the western Afghan city of Zaranj to Chabahar in Iran.

GST Council reduces GST Rate on Real Estate projects; approves 5% rate for under-construction houses

Feb 25, 2019
The GST Council undertook such decisions after considering that the Real Estate sector is one of the largest contributors to the national GDP and provides employment opportunity to large numbers of people.

Relief for Angel Investors, Government clears proposal to encourage investments in Start-Ups; hikes tax exemption cap

Feb 20, 2019
The Section 56(2)(viib) of the Income Tax Act provides that the amount raised by a start-up in excess of its fair market value would be deemed as income from other sources like angel investors and would be taxed at 30 percent. This section was introduced in 2012 and the tax was named as the ‘Angel Tax’.

Anoop Satpathy-led Expert Committee submits report; recommends National Minimum Wage at Rs 375 per day

Feb 16, 2019
It recommended the fixation of need based National Minimum Wage for India at Rs 375 per day or Rs 9,750 per month irrespective of sectors, skills, occupations and rural-urban locations for a family comprising of 3.6 consumption units.

RBI penalises seven banks for violating various norms

Feb 13, 2019
Earlier in January 2019, the apex bank had imposed monetary penalty on Axis Bank, Syndicate Bank, and UCO Bank for their non-compliance with directions contained in circulars of the RBI.

NITI Aayog signs agreement to document systemic transformation in education

Feb 13, 2019
The NITI Aayog has signed a Statement of Intent with the Michael & Susan Dell Foundation to codify, document and share best practices to improve learning outcomes in public school education through systemic reforms, based on their collective experiences of working with various state governments in India.

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