Home Daily Updates IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 18 - JUNE - 2016
IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 18 - JUNE - 2016
Saturday, 18 June 2016 04:52

 

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DAILY NEWS UPDATES

18- JUNE - 2016

 

DIA MIRZA NAMED AMBASSADOR FOR SWACHH SAATHI PROGRAMME

Bollywood actress Dia Mirza was named as the ambassador for Swachh Saathi (student internship) programme. It is a youth-based programme of Swachh Bharat Mission.

Dia was selected because she is a youth icon and has been an active campaigner for Swachh Bharat. She would help the programme to reach out to more youngsters as it was aimed to make it a viral youth led movement.

As the ambassador, the actress would interact with school and college students from across the country through awareness sessions, community cleaning activities and motivational videos.

Swachh Saathi Programme

Under this Programme, more than 2000 interns would be enrolled to coordinate around 10000 schools across India.

They will also ensure that all students in the schools take the pledge for Clean India.

About Dia Mirza Sangha

• She was a second runner up at Femina Miss India 2000 and was subsequently sent to Miss Asia Pacific 2000, where she won. She became the first Indian to win this title in 29 years.

• She also won Miss Beautiful Smile, Miss Avon and Miss Close-Up Smile in Miss India.

• Besides being Bollywood actress, she was well-known in media for her social work.

• She won an IIFA 2012 Green Award for her contribution towards green environment.

• She conducted many awareness campaigns on prevention of female foeticide, HIV awareness, the Cancer Patients Aid Association, People for the Ethical Treatment of Animals (PETA), ADAPT, Child Rights and You (CRY).

• She supported the Naramada Bachao Andolan in Public.

• She made her bollywood debut with Rehnaa Hai Terre Dil Meinopposite R. Madhavan.

• She is a member in the board of the Coca Cola foundation which works towards rural development in India.

• She is the Eco Ambassador for Panasonic.

KULMEET BAWA APPOINTED ADOBE MD FOR SOUTH ASIA

Adobe on 6 June 206 announced the appointment of Kulmeet Bawa as Managing Director (MD) for South Asia. He will begin his new role on 24 June 2016.

Bawa will take over the position from Umang Bedi, who is leaving the company after five years of service.

Bawa will report to Paul Robson, President of Adobe Asia Pacific. Bawa will lead Adobe's customer-facing engagements in India.

Bawa currently serves as the Head of Sales for Adobe in India.

About Adobe

Adobe Systems Incorporated is an American multinational computer software company.

The company is headquartered in San Jose, California, United States.

It has historically focused upon the creation of multimedia and creativity software products.

It is best known for PhotoshopAdobe Reader, and Adobe Creative Suite.

It was founded in February 1982 by John Warnock and Charles Geschke.

DRAFT NATIONAL WATER FRAMEWORK BILL, 2016 RELEASED

The Union Ministry of Water Resources released the Draft National Water Framework Bill, 2016 to invite comments and suggestions from public.

The proposed Act provides an overarching national legal framework with principles for protection, conservation, regulation and management of water as a vital and stressed natural resource.

Since ‘water’ is in the State list of the Constitution, the Act will be applicable only after approval of the concerned State legislature.

Highlights of Draft National Water Framework Bill, 2016

Right to Water for Life: Every person has a right to sufficient quantity of safe water for life within easy reach of the household.

• The right shall be provided regardless of, among others, caste, creed, religion, community, class, gender, age, disability, economic status, land ownership and place of residence.

• However, the precise quantity of safe water for life shall be determined by the appropriate government from time to time.

• Water as a Common heritage and Resource, held in public trust:The state at all levels holds water in public trust for the people and is obliged to protect water as a trustee for the benefit of all.

• Water in its primary aspect as a sustainer of human life shall take precedence over other uses of water, such as agricultural, industrial, commercial, and other uses.

• River rejuvenation: The appropriate government shall strive towards rejuvenating river systems with community participation, ensuringAviral Dhara - continuous flow in time and space including maintenance of connectivity of flow in eachriver system, Nirmal Dhara- unpolluted flow so that the quality of river waters is not adversely affected by human activities and Swachh Kinara – clean and aesthetic river banks.

• Sustaining ecosystems dependent on water: There shall be minimum interference in existing natural river flows; in the natural state of water bodies and wetlands and in floodplains and riverbeds, which shall be recognised as integral parts of the rivers themselves.

• The protection, conservation, regulation and management of water shall be carried out by the appropriate Government in a manner that is sustainable, equitable, transparent, accountable and participatory.

• People-centred water management: People-centred decentralised water management, for both surface and ground water, including local rainwater harvesting, watershed development and participatory irrigation management, shall be prioritised, while recognizing, encouraging and empowering local initiatives.

• Appropriate treatment and use of wastewater: The appropriate Government shall evolve and implement economic models that promote sustainability of recycle-reduce-and-reuse of water resources, while ensuring adherence to principles of equity.

• Standards for water quality and water footprints: There shall be binding national water quality standards for every kind of water use. And, there shall be binding national water footprint standards for every activity or product.

• Water use prioritisation: The first priority and charge on water shall be meeting the right to water for life, followed by allocation for achieving food security, supporting sustenance agriculture, sustainable livelihoods and eco-system needs.

• Integrated River Basin Development and Management: A river basin, including associated aquifers, shall be considered as the basic hydrological unit for planning, development and management of water.

• Each State Government shall develop, manage and regulate basins of intra-State rivers through a River Basin Master Plan to be implemented by an appropriate institutional mechanism.

• The Central Government shall provide for establishment of a River Basin Authority for each inter-State river basin, or for a sub-basin of sub inter-sate river basin wherever appropriate, for optimum and sustainable development of the inter-State rivers and river valleys.

• Each River Basin Authority shall prepare a Master Plan for the River Basin, under its jurisdiction. The plan shall be reviewed and updated after every 5 years after due consultation with all other planning agencies and stakeholders.

Preparation of water security plans: The appropriate Government shall prepare and oversee the implementation of a Water Security Plan for (a) attainment of sufficient quantity of safe water for life and sustainable livelihoods by every person; and (b) ensuring water security even in times of emergencies like droughts and floods.

• The plan shall be valid for a period of 5 years from the date on which it becomes binding. It shall be revalidated or amended after every 5 years.

• Groundwater Conservation, Protection, Regulation and Management: Groundwater shall be conserved, protected, regulated and managed through appropriate laws based on the Model Bill for the Conservation, Protection, Regulation and Management of Groundwater, 2016.

• Flood mitigation and management: The Central Government shall develop a Decision Support System (DSS) for flood forecasting and flood inundation under the National Water Informatics Centre (NWIC).

• Each State Government shall also develop their own DSS to address state-specific issues. The NWIC shall ensure that the central DSS and that of each State are provided adequate and effective linkage.

• Drought mitigation and management: Each State Government shall prepare a Drought Mitigation and Management Policy and Action Plan within 6 months of coming into force of this Act.

• The policy and action plan shall include a drought risk and vulnerability assessment for the State, identify programmes and measures for drought mitigation.

• Water pricing and water regulators: The pricing of water shall be based on a differential pricing system in recognition of the right to water for life and its multiple roles, being a part of history, culture and religion.

• Water, as a part of water for life, shall not be denied to anyone on the ground of inability to pay. Water used for commercial agriculture and for industry or commerce may be priced on the basis of full economic pricing, or higher if needed and appropriate in a given case.

Sectoral use of water: Urban water supply shall be metered and priced on a volumetric basis. Water Users Associations (WUAs) shall be accorded statutory powers to collect and retain a portion of Irrigation Service Fees

• Water resources information system: The Central Government shall develop and maintain a publicly available web based Water Resources Information System (IndiaWRIS) on Geographical Information System Platform.

• The IndiaWRIS will be developed by integrating water resources and other related data with satellite imageries through use of state-of-the-art Information Technology.

• Inter-state river water disputes: Appropriate institutional arrangements shall be established at all levels within the State and beyond up to an inter-State river-basin, to obviate and/or resolve emerging inter-State river-water disputes.

• The disputes should be settled through negotiations, conciliation or mediation, or other such means, at the earliest stages before the disputes become acute, so as to avoid recourse to adjudication as far as possible.

• All basin States in a river system are equal in rights and status, and there is no hierarchy of rights among them.

• The upper basin State shall adopt a cautious and minimalist approach to major interventions in inter-State rivers.

• They provide advance information to the lower basin States about plans for intervention, consult them at all stages on possible impacts and take care to avoid significant harm or injury to them.

• Existing water-related conflicts or disputes shall be reviewed and appropriate action taken in the light of the provisions of this Act.

EXERCISE DESERT EAGLE-II CONCLUDED

Exercise Desert Eagle II, which was the second in the series of bilateral exercises between Indian Air Force (IAF) and United Arab Emirates Air Force (UAE AF), was concluded.

This was a ten-day air combat exercise in which the IAF and the UAE Air Force undertook air exercises from Al-Dhafra Air Base, Abu Dhabi starting from 22 May 2016.

About Exercise Desert Eagle II

• Exercise Desert Eagle-II saw the IAF Su 30 MKI participating along with Mirage 2000-9 and F-16 block 60 of the UAE Air Force.

• Mission commanders from both sides participated in the Exercise and availed this opportunity to the maximum to draw valuable operational lessons.

• Despite the predominantly hot and arid conditions with temperatures well beyond 40 deg Celsius, IAF maintenance support staff succeeded in

aintaining high serviceability state of aircraft and equipment.

• The Indian Air Force had participated previously in Desert Eagle I in 2008.

India and United Arab Emirates Relations

• It is pertinent to note that India and United Arab Emirates have strong bilateral relations which date back to more than hundreds of years.

• Both the nations have demonstrated keen resolve to engage each other in multiple facets and take the relationship to the next level.

• Defence Co-operation between the two nations gained momentum after signing of the Agreement of Defence Co-operation during the visit of the Chief of Staff of UAE Armed Forces to India in 2003.

INDIA BECOMES CO-CHAIR OF WORKING GROUP ON MARITIME SITUATIONAL AWARENESS UNDER CGPCS

India became the co-chair of Working Group on Maritime Situational Awareness under Contact Group on Piracy off the Coast of Somalia (CGPCS).

This decision was taken through a consensus during the 19th Plenary Session of the CGPCS that took place in Mahe, Seychelles during 31 May – 3 June 2016.

Steps taken by Indian Navy to ensure safety at Somalian Coast and in the Indian Ocean Region

• The Indian Navy and Coast Guard have played a very important role by enhanced patrolling in the high seas and providing armed naval escorts to ships moving in the area.

• To protect Indian ships and Indian citizens employed in sea-faring duties, Indian Navy commenced anti-piracy patrols in the Gulf of Aden from 23 October 2008.

• In addition to escorting Indian-flagged ships, ships of other countries have also been escorted by the Indian Navy.

• Merchant ships are currently being escorted along the entire length (490 nm long and 20 nm wide) of the Internationally Recommended Transit Corridor (IRTC) which is heavily patrolled by Indian Navy.

• To maintain high degree of alertness in the region, around 19 coastal security operations and exercises have been undertaken over the past year.

About Contact Group on Piracy off the Coast of Somalia (CGPCS)

• It is a coalition of states, international organisations, the private sector and civil society that came together to fight piracy together in a coordinated manner.

• It was established in response to United Nations Security Council Resolution 1851 (2008), later recalled and replaced with United Nations Security Council Resolution 1918 (2010).

• It works on the basis of Contact Group model that facilitates discussion and coordination of actions among states and organizations to suppress Somali piracy.

• Till now, more than 60 countries and international organizations, including India, have become part of this forum.

• Seychelles is the current Chairman of the CGPCS for the biennium 2016-17.

ADB AND UNION GOVERNMENT SIGNED LOAN AGREEMENT TO UPGRADE 176 KM OF ROADS IN JHARKHAND

The Asian Development Bank (ADB) and the Union Government signed the Loan Agreement for 200 million US dollars to upgrade 176 Kilometres of State roads in Jharkhand.

The agreement was signed by Raj Kumar. Joint Secretary (Multilateral Institutions), Department of Economic Affairs, Ministry of Finance and by M. Teresa Kho, Country Director of ADB’s India Resident Mission.

Highlights of the agreement

• It will upgrade existing sections of four State roads to two lane standard and will also support improvements in the design, safety and maintenance of the network.

• Besides upgrading 176 km of roads, the project will help the State develop an international standard road safety master plan for promoting road safety in Jharkhand.

• It will enhance the State’s ability to systematically identify, analyze, develop and prioritize critical road safety measures, which will benefit all road users.

Highlights of the Project to upgrade 176 Km of roads in Jharkhand

• Several safety features included in the project design include over 60 bus stop shelters; 50 km of raised sidewalks in urban areas; 4 km of dedicated bicycle lanes; and solar-powered street lights.

• The project will also generate employment opportunities for residents of the adjoining areas, including for women, who will get a share of a least 20% of jobs for afforestation.

• The total cost of the project, due to be completed by December 2019, is 306.25 million US dollars.

• In addition to ADB’s loan, the State Government of Jharkhand will provide counterpart assistance equivalent to 106.25 million US dollars.

Background
ADB has already been supporting the Jharkhand’s goals of improving its road connectivity by providing an initial loan for upgrading 311 km of State Roads in 2009. Together, the two projects are rehabilitating 487 km of state highways.

ASTROPHYSICISTS DISCOVER CANARIAS EINSTEIN RING IN SPACE

An international team of astrophysicists discovered a new optical Einstein ring called Canarias Einstein Ring. Einstein Ring is a distorted image of a galaxy, the source, which is very distant from the Earth.

The results of the discovery were published in the international journal Monthly Notices of the Royal Astronomical Society on 16 May 2016.

The discovery was made by a team comprising of doctoral student Margherita Bettinelli from the Instituto de Astrofísica de Canarias (IAC) and the University of La Laguna (ULL) of Spain.

Main findings of the Study

• The rare phenomenon was discovered in the Sculptor constellation, IAC J010127-334319, in the vicinity of the Sculptor Dwarf Spheroidal Galaxy.

• The discovered new source of galaxy (Einstein Ring) is an almost complete ring with an angle of 300 degree having a diameter of 4.5 arcsec.

• The discovered optical Einstein Ring shows two perfectly aligned galaxy, namely source galaxy and lens galaxy.

• The source galaxy is 10000 million light years away from Earth and it appears as a blue galaxy populated by young stars began to evolve. The young stars were forming at a high rate.

• The lens galaxy is 6000 million light years away from Earth and is more evolved, however, its stars have almost stopped forming, and its population is old.

How the Einstein Ring presence was confirmed?

Confirmation of the object was obtained by deriving spectroscopic redshifts for lens and source from observations at the 10.4-m Gran Telescopio CANARIAS (GTC) with the spectrograph OSIRIS.

The chance discovery was made while inspecting the data taken through the Dark Energy Camera (DECam) of the 4m Blanco Telescope at the Cerro Tololo Observatory in Chile.

What is an Einstein Ring?

• The phenomena were predicted by Albert Einstein's theory of General Relativity.

• An Einstein ring is a distorted image of a very distant galaxy, which is termed the source.

• The ring is an illusion created by chance alignment of two galaxies.

• The distortion is produced by the bending of the light rays from the source due to a massive galaxy, termed the lens, lying between it and the observer.

• The strong gravitational field produced by the lens galaxy distorts the structure of space-time in its neighbourhood, and it not only attracts objects which have a mass, but also bends the paths of light.

• This change in alignment of two galaxies and the consequent bending of light rays create an illusion in the form of Einstein Ring.

Significance of the Einstein Ring

Studying Einstein Ring gives relevant information about the composition of the source galaxy, and also about the structure of the gravitational field and of the dark matter in the lens galaxy.

WORLD’S SPACE AGENCIES JOIN HANDS TO FACE CLIMATE CHALLENGE

Space agencies of more than 60 countries, under the impetus of the Indian Space Research Organisation (ISRO) and the French Space Agency (CNES), have agreed to come together to combat climate challenge. The announcement was made.

It is for the first time that the space agencies have agreed to engage their satellites to coordinate their methods and their data to monitor human-induced greenhouse gas emissions.

What made world’s space agencies come together?

Without satellites, the reality of global warming would not have been recognised and the subsequent historic agreement at the United Nations headquarters in New York on 22 April 2016 would not have been signed.

Out of the 50 essential climate variables being monitored in the present time, 26, including rising sea level, sea ice extent and greenhouse gas concentrations in all layers of the atmosphere, can be measured only from space.

The key to effectively implementing the Paris Agreement lies in the ability to verify that nations are fulfilling their commitments to curb greenhouse gas emissions.

The world’s space agencies decided to establish an independent, international system to centralise data from their Earth-observing satellites through the New Delhi Declaration that officially came into effect on 16 May 2016.

The agencies will inter-calibrate these satellite data so that they can be combined and compared over time.

FINANCE MINISTER SAYS ALL STATES SUPPORTING THE GST

  • Barring the key producer State of Tamil Nadu, virtually all others have supported the Goods & Services Tax (GST), Union Finance Minister Arun Jaitley said.
  • Virtually all the States have supported the idea of GST today barring Tamil Nadu which has expressed some reservations. Tamil Nadu has offered a few suggestions which have been noted by the committee.
  • Mr. Jaitley also said that the States had rejected the provision for a constitutional cap on the GST rate, one of the three demands of the Congress for supporting, in the Rajya Sabha.
  • As a constitutional body, it would “impinge” on the legislative sovereignty of both Parliament and the State Legislatures and jeopardise the fiscal autonomy of States.
  • Mr. Jaitley also said that there was no deadline for the implementation of the GST.
  • Earlier, after the passage of the Constitutional (122{+n}{+d}) Amendment Bill in May 2015 in the Lok Sabha, the Government had said that it was trying to roll out the single-tax regime from April 1, 2016.
  • Tamil Nadu Chief Minister Jayalalithaa met Prime Minister Narendra Modi and submitted a 29-point memorandum, detailing several demands of the State.
  • Among the demands of Ms. Jayalalithaa were the formation of a Cauvery Management Board and a Cauvery Water Regulation Committee, restoration of water level at Mullaperiyar to 152 feet and interlinking of rivers.

AMID THE SPIRALLING PRICES OF PULSES, THE CENTRE DECIDED TO SELL TURVIA MOBILE VANS

  • Amid the spiralling prices of pulses, the Centre decided to sell pigeon pea (tur) and black gram (urad) at Rs. 120 per kg through the National Cooperative Consumers Federation of India (NCCF) via mobile vans in Delhi.
  • The decision to sell pulses through the NCCF was taken at an inter-ministerial review meeting held here that reviewed the prices of essential commodities and discussed measures to ensure availability of these commodities at reasonable prices.
  • The government said that as on June 13, 2016, the procurement of Rabi pulses had reached 64,000 tonnes.
  • Together with the earlier procurement of 51,000 tonnes of the Kharif season, the total domestic procurement by government agencies had reached 1,15,000 tonnes.
  • The Centre has also ordered further import of 12,500 tonnes of pulses for buffer stocks, which include 10,000 tonnes of masur and 2,500 tonnes of urad.

WHAT CONSTITUTES OFFICE OF PROFIT

  • Delhi is not the only State where the post of Parliamentary Secretary has been challenged.
  • Various High Court judgments in the past have deemed the appointment of Parliamentary Secretaries unconstitutional and have ruled against such appointments.
  • Various petitions in the High Court have challenged the appointment of Parliament Secretary.
  • Petition argue that the post is in contradiction to Article 164 (1A) of the Constitution which provides for limiting the number of Ministers in the State Cabinets to 15 per cent of the total number of members of the State Legislative Assembly.
  • Because a Parliament Secretary often holds the rank of Minister of State, the Calcutta High Court, in June 2015, quashed the appointment of 24 Parliamentary Secretaries in West Bengal dubbing it unconstitutional.
  • Similar action was taken by the Bombay High Court in 2009 for the appointment of two Parliamentary Secretaries in Goa and by the Himachal Pradesh High Court in 2005 for the appointment of eight Chief Parliamentary Secretaries and four Parliamentary Secretaries in the State.
  • The number of Cabinet Ministers in Delhi cannot exceed 10 per cent of the total 70 seats — that is seven — as per Article 239(A) of Constitution. As of now, only one Parliamentary Secretary to the Chief Minister is authorised.
  • ‘Office of profit’ is not defined in the Constitution. However, in past judgments, the Election Commission has noted “what constitutes an office of profit under the Government is now well established by a catena of judgments of the Supreme Court.”
  • Five tests have been laid down: (i) whether the government makes the appointment; (ii) whether the government has the right to remove or dismiss the holder; (iii) whether the government pays remuneration; (iv) what the functions of the holder are; and (v) does the government exercise any control over the performance of these functions.

US APPEALS COURT UPHELD OPEN INTERNET REGULATIONS

  • A U.S. appeals court panel upheld hotly contested “Open Internet” regulations that prohibit broadband carriers from playing favourites or blocking competing online services.
  • The so-called “Net neutrality” rules, which aim to prevent a two-speed Internet, won court approval after two past efforts failed.
  • The U.S. Appeals Court panel in Washington dealt a setback to major broadband firms like Verizon and AT&T, which claimed the rules unfairly restrict providers and discourage investment.
  • Mr. Tatel wrote that “the role of broadband providers is analogous to that of telephone companies: they act as neutral, indiscriminate platforms for transmission of speech of any and all user”.
  • The ruling is a victory for consumer groups and others who argued that a handful of Internet providers, without these rules, could effectively block or hamper big online services or smaller ones that compete with those backed by the broadband provider.
  • The new rule also applies the concept to mobile Internet carriers. The cable and Internet providers, which contend the regulation limits their ability to invest and innovate, could appeal the ruling to the U.S. Supreme Court.

IS LEADER ABU BAKR AL-BAGHDADI HAS BEEN KILLED IN A RAID IN SYRIA SAYS REPORTS

  • The Islamic State (IS) ’s leader Abu Bakr al-Baghdadi has been killed in an air raid in Syria by the U.S.-led coalition, reports said.
  • Baghdadi died in an air strike on IS’s stronghold of Raqqa in northern Syria, Iranian state media and pro-government Turkish daily YenisSafak said, citing IS-affiliated Arabic news agency al-Amaq.
  • The coalition did not immediately comment on the report. Iraqi TV channel ‘Al-Sumaria’ said that Baghadi had been wounded on Sunday in a coalition air strike on a location 65 km west of IS-held Mosul.
  • Baghdadi, who had a $25 million bounty on his head, has moved around within the past six months and had travelled to Mosul.

AUSTRALIAN GREAT BARRIER REEF RODENT, THE FIRST MAMMAL LOST DUE TO CLIMATE CHANGE

  • Climate change appears to have driven to extinction an Australian Great Barrier Reef rodent, according to a new study, which suggests the species may be the first mammal lost to the global phenomenon.
  • Extensive searches for the Bramble Cay melomys, a small rat-like animal, have failed to find a single specimen from its only known habitat on a sandy island in far northern Australia.
  • Researchers said the key factor behind the extinction was “almost certainly” ocean inundation of the low-lying cay, likely on several occasions, over the last decade which resulted in dramatic habitat loss.
  • The Melomysrubicola, considered the Great Barrier Reef’s only endemic (found nowhere else) mammal species, was first discovered on the cay in 1845 by Europeans who shot the "large rats" for sport.
  • But the last known sighting, by a professional fisherman, was in 2009. When a 2014 study found no sign of the species, researchers decided to conduct the most extensive survey possible in the hope of conserving the species.

WPI ROSE TO 0.8 PER CENT IN MAY FROM (-) 2.20 PER CENT

  • Wholesale price inflation rose to 0.8 per cent in May from (-) 2.20 per cent a year ago, driven by higher food prices, making it difficult for the central bank to reduce interest rates in the short-term.
  • This is the second month in succession that the WPI is remaining in positive territory. Last month, inflation as measured by the wholesale price index (WPI) was at 0.34 per cent, its first gain in 18 months, according to data released by the Centre.
  • The acceleration in WPI, coming as it does after a quickening of retail inflation in the same month, makes it even more unlikely that the Reserve Bank of India will cut interest rates shortly, according to economists.
  • The WPI rose due to food inflation which shot up to 7.9 per cent from 4.2 per cent in April. The same trend could be seen in retail inflation as well where only the food category accelerated inflation.
  • Food continued to push the headline print higher while the effect of rising global commodity prices was also larger in the index due to its close correlation with domestic prices.
  • The fuel and power segment in the WPI contracted 6.1 per cent in May compared to a contraction of 4.8 per cent in April.
  • This was led bythe mineral oil segment, which contracted 9.6 per cent in May compared to a contraction of 7.9 per cent in the earlier month.
  • Inflation in manufactured goods rose marginally to 0.9 per cent in May from 0.7 per cent in April.
  • Overall, the view is that rising inflation coupled with poor industrial growth is a worrying trend.

THE MODEL GST LAW BRINGS ALL E-COMMERCE TRANSACTIONS UNDER GST

  • The model Goods and Services Tax (GST) law, made public by the Centre, has clarified that all e-commerce transactions will attract GST and that the tax will be collected by the service operator as soon as the supplier receives payment.
  • While this has cleared the confusion surrounding the levy of the tax on e-commerce transactions spanning different states, it will also make operations more complicated for the e-commerce platform.
  • The model GST law — with 162 clauses and four schedules — will be applicable for all those with an annual turnover of Rs.10 lakh or more. This limit is Rs. five lakh in the north-eastern states.
  • The provisions of the model GST law that prescribes a GST threshold limit which is so low as Rs.10 lakh (Rs.5 lakh for north east), may be a zero sum game as the administrative cost of compliance on both ends would equal the tax collected.
  • The model law also provides for an Authority for Advance Ruling to be located in every state, comprising one Central GST member and one State GST member to be appointed respectively by the Central Government and the State government.
  • In addition, the law provides for the creation of an Appellate Authority in each state.
  • The GST model law also includes a ‘composition levy’, wherein a person with an annual turnover of less than Rs.50 lakh on the sale of goods and services in a single state will have to pay a tax of “not less than one per cent.

GOVT TO REVIEW PRIZE RISE

  • Concerned over food inflation, Finance Minister Arun Jaitley will review the situation and discuss steps to keep prices of essential commoditiesin check.
  • Retail prices of pulses are still ruling high at over Rs.170 per kg even as the government is making efforts to boost supply . Even tomato prices have doubled to Rs.80 a kg due to the crop damage. Potato rates have also been on the rise.
  • As per the WPI data vegetable inflation rose sharply to 12.94 per cent from 2.21 per cent a month ago.
  • The Finance Minister has called tomorrow a meeting with ministers and secretaries concerned to discuss prices of essential commodities.

 

 

 

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Last Updated on Sunday, 19 June 2016 08:52