Search

Top 5 Current Affairs: 20 February 2019

Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu on February 19, 2019 cleared proposals to encourage investments in Start-Ups, aiming at simplifying the process of exemptions for Start-ups from the ‘Angel Tax’ under Section 56 (2) (viib) of Income Tax Act, 1961.

Feb 20, 2019 18:03 IST
facebook IconTwitter IconWhatsapp Icon

Government clears proposal to encourage investments in Start-Ups; hikes tax exemption cap

Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu on February 19, 2019 cleared proposals to encourage investments in Start-Ups, aiming at simplifying the process of exemptions for Start-ups from the ‘Angel Tax’ under Section 56 (2) (viib) of Income Tax Act, 1961.

As per the new norms, registered startups will be exempted from tax on funding of up to Rs 25 crore compared with the existing limit of Rs 10 crore. Till date, the startups were availing of the tax concession only on the condition that their total investment, including funding from angel investors, does not exceed Rs 10 crore.

CCEA approves ‘Kisan Urja Suraksha evam Utthaan Mahabhiyan’ Scheme for farmers’ welfare

The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, on February 19, 2019 approved the launch of ‘Kisan Urja Suraksha evam Utthaan Mahabhiyan’ with the objective of providing financial and water security to farmers.

The Scheme will have substantial environmental impact in terms of savings of CO2 emissions. All three components of the Scheme will save about 27 million tonnes of CO2 emission per annum.

Cabinet approves release of an additional instalment of Dearness Allowance and Dearness Relief


The Union Cabinet approved the release of an additional instalment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners with effect from January 1, 2019.

There is an increase of 3 percent over the existing rate of 9 percent of the Basic Pay and Pension to compensate for price rise. This increase is in accordance with the accepted formula, which is based on the recommendations of the 7th Central Pay Commission (CPC).

Setback for chit funds, Cabinet approves Promulgation of Banning of Unregulated Deposit Schemes Ordinance, 2019

The Union Cabinet, chaired by Prime Minister Narendra Modi, on February 19, 2019 approved the Promulgation of Unregulated Deposit Schemes Ordinance, 2019.

The proposed Ordinance will immediately tackle the menace of illicit deposit taking activities in the country which at present are exploiting regulatory gaps and duping poor and gullible people of their hard-earned savings. Earlier, the Lok Sabha on February 13, 2019 passed the Banning of Unregulated Deposit Schemes Bill, 2018.

Cabinet approves National Policy on Electronics 2019; aims to make India global hub in ESDM Sector

The Union Cabinet on February 19, 2019 approved the National Policy on Electronics 2019 (NPE 2019), proposed by the Union Ministry of Electronics and Information Technology (MeitY).

The 2019 Policy on Electronics proposes to propel the growth of Electronics System Design and Manufacturing (ESDM) industry in the country. It replaces the National Policy of Electronics 2012 (NPE 2012).

Download our Current Affairs & GK app For exam preparation

डाउनलोड करें करेंट अफेयर्स ऐप एग्जाम की तैयारी के लिए

AndroidIOS