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All India Radio News Summary: 07 OCTOBER 2017


All India Radio News Summary: 07 OCTOBER 2017


  1. GST Council reduces tax rates on 27 items and allows the filing of returns on quarterly basis.

In a major relief to common man, small traders and exporters, the GST Council has reduced tax rates on 27 items and allowed the filing of returns on a quarterly basis. The decision was taken in the GST Council meeting which was held under the Chairmanship of Finance Minister.

  • The Council approved quarterly filing of returns for businesses with turnover up to 1.5 crore rupees besides raising the threshold for composition scheme from 75 lakh rupees to one crore rupees.            
  • The long-term solution is to create an e-wallet for every exporter in which a notional amount would be credited as advance refund and through this the IGST or GST will be paid.

Prime Minister said that the GST has become even simpler after GST Council’s recommendations and that it is in line with the government’s constant endeavour to safeguard citizens’ interests and ensure that India’s economy grows.

The Indian industry said the decisions will improve compliance and provide the much needed relief to taxpayers. The Small and Medium Enterprises sector compliance will greatly improve as the limit for the composition scheme has been increased to 1 crore rupees.

Federation of Indian Export Organisations (FIEO) also hailed the GST Council’s initiatives, including the introduction of e-wallet. The initiatives will address the problem of the exporters particularly micro and small segments.

  1. Government removes gems and jewellery dealers from the purview of  reporting requirement under the Prevention of Money Laundering Act.

The government has removed gems and jewellery dealers from the purview of the reporting requirement under the Prevention of Money Laundering Act (PMLA).

  • The government rolled back the August 23 notification that notified dealers in precious metals, precious stones and other high value goods as persons carrying on designated business and professions under the PMLA.
  • With this, the Aadhaar will cease to be mandatory for jewellery transactions exceeding 50,000 rupees.
  • The requirement of other identity proof has also been waived off.

Under the PMLA, every reporting entity is required to maintain record of all transactions of value exceeding 10 lakh rupees, all cross border wire transfers of more than 5 lakh rupees and all purchase and sale of immovable property of 50 lakh rupees or more.

 

  1. Biometric identification Aadhaar mandatory for all post office deposits, Public Provident Fund, National Savings Certificate scheme and Kisan Vikas Patra

The Finance Ministry has issued four separate Gazette notifications making Aadhaar mandatory for opening all post office deposit accounts, Public Provident Fund, National Savings Certificate scheme and Kisan Vikas Patra deposits.

The Existing depositors who have not provided the Aadhaar number at the time of application for such deposit “shall submit his/her Aadhaar number to the post office savings bank or deposit office concerned, on or before 31st of December, 2017.

 

  1. There has been an improvement in sex ratio at birth in 104 districts selected for the Beti Bachao, Beti Padhao (BBBP) scheme

The government said, there has been an improvement in sex ratio at birth in 104 districts selected for the Beti Bachao, Beti Padhao (BBBP) scheme, which aims at checking female infanticide and educating the girl child.

  • Out of the total 161 districts where the programme is being implemented, an increasing trend in Sex Ratio at Birth (SRB) is visible in 104 districts.
  • Women and Child Development Ministry will celebrate the Beti Bachao Beti Padhao Week from 09th to 14th of this month to promote empowerment of girls and reinforce gender equality.
  • The theme of the program will be “Beti Bachao Beti Padhao Week- The Daughters of New India”.
  • States, UTs and Districts have undertaken several innovative initiatives to address the issue of declining child sex ratio and promote value of girl child.
  • The collective and coordinated efforts undertaken at national, state and districts level have been successful in establishing a substantial improvement in the number of girls being born in the target districts. 

 

  1. A study group has been setup to examine the problems being faced by the people living near the International Border

The Centre has set up a study group to examine the problems being faced by the people living near the International Border and the Line of Control in Jammu and Kashmir due to ever-present threat of cross-border firing from Pakistan.

The group will meet people living in the border areas of Jammu and Kashmir, security forces deployed there, district administration officials and local public representatives and submit its report within two months.

 

  1. Prime Minister says Government is committed to bridge digital divide in the country as a guarantee for good governance and transparency.  

Prime Minister says the country cannot afford to have a digital divide. PM said work is underway to spread digital literacy to every part of country among all age groups and sections of the society. 

  • The Prime Minister said that digital India is a guarantee for transparency, good governance and effective service delivery.
  • PM also felicitated the trainees under the Pradhan Mantri Gramin Digital Saksharta Abhiyan in Gandhi Nagar.
  • Speaking on education, he said the academic of the country should not be examination driven and the focus should be on innovation.

Earlier in the day, the Prime Minister laid the Foundation Stones for a Greenfield airport in Rajkot, six-laning of Ahmedabad-Rajkot National Highway and four-laning of Rajkot-Morbi State Highway.

The Prime Minister also dedicated to the nation, a fully automatic milk processing and packaging plant of Sursagar dairy and a drinking water distribution pipeline for Joravarnagar and Ratanpur area of Surendranagar district.

  • PM said, the definition of development has now changed. He said, from the days when hand pumps were seen to be a sign of development, today the waters of the Narmada River have been brought for the benefit of citizens. Saying that water has always been important for Gujarat, he added that with the waters of Narmada reaching Saurashtra, large amount of water is being made available for agriculture and dairy sector.
  • The Prime Minister urged people to use water responsibly, and conserve every drop. He also urged farmers to use drip irrigation to conserve more water and increase productivity of agriculture.
  • He said micro irrigation methods will play a big role in doubling farmers’ income by 2022.

 

  1. The Chhattisgarh government has banned the use of chlorinated plastic and Polyvinyl Chloride, PVC

The Chhattisgarh government has banned the use of chlorinated plastic and Polyvinyl Chloride, PVC with an objective to conserve environment.

  • The advertising and promotion materials like PVC banners, flex, and hoardings have also been banned with immediate effect.
  • The state government has also banned the manufacture, storage, import, sale, transport and use of such plastic-borne goods.  
  • Chhattisgarh government has taken the decision to conserve and improve the environment.

 

  1. Tropical Storm Nate gained strength as it barrelled toward popular Mexican beach resorts

Tropical Storm Nate gained strength as it barrelled toward popular Mexican beach resorts and ultimately the US Gulf coast after dumping heavy rains on Central America. The storm has caused at least 28 deaths. Nate, which currently has winds of 95 kilometres per hour, is forecast to reach hurricane strength by the time it makes landfall in the United States late today or early tomorrow, on the north coast of the Gulf of Mexico.

New Orleans, which was ravaged by Hurricane Katrina in2005 and other cities on the US Gulf coast were under hurricane watch.

 

  1. Karnataka is number one state in the country in disbursing highest number of loans to largest number of beneficiaries

Union Minister for Chemicals and Fertilisers appreciated the efforts of banks in making Karnataka number one state in the country by disbursing highest number of loans to largest number of beneficiaries.

  • Inaugurating the Mudra promotion campaign in Bengaluru today, he said that the scheme is an innovative instrument for financial inclusion for poor and marginalized people.
  • The Mudra scheme alone has generated more than 8 crore 50 lakh self-employment.