TELANGANA

58% dent in Telangana’s grant-in-aid for 2015-19

Telangana has received the lowest grant-in-aid from the Centre between 2015 and 2019.
Non-profit body PRS Legislative Research’s report ‘State of State Finances’, which is based on Reserve Bank of India (RBI)’s data on budget documents of various states, shows that Telangana had suffered a dent of 58% in grant-in-aid transfers from the Union government. Though this was the highest shortfall among states in terms of grant-in-aid, Telangana, however, topped the list when it comes to total tax revenue as percentage of gross state domestic product (GSDP). The state’s tax was 7.4% of GSDP during the period.

Shortfall is difference between budget estimates of grant-in-aid and what actually came from the Centre. In short, the state had expected higher grant-in-aid and even put it in the budget document as one of the revenue sources, but did not get that much. After Telangana, Assam suffered the maximum dent in grant-in-aid at 42%, followed by Tripura, 41%.
Despite the dip in grant-in-aid, the state tax collection was high followed by Uttar Pradesh (7.2% of GSDP) and Maharashtra (6.8%) of tax revenue between 2015-2019

INTERNATIONAL

India Chairs 3 Key Subsidiary Bodies of the UNSC

India will host the three-key subsidiary bodies of the UNSC (United Nations Security Council).

The groups are the Counter-Terrorism Committee, Taliban Sanctions Committee and Libya Sanctions Committee.

The Chairman of the Counter-Terrorism Committee evoked a special response in India. Not only has India been at the forefront of combating terrorism, especially cross-border terrorism, but it’s also one among India’s biggest victims. Considering India’s strong interest and commitment to peace, security, development and progress in Afghanistan.

The Taliban Sanctions Committee has always a top priority for India. When the international community pays attention to Libya and therefore the social process, India will assume the chairmanship of the Libya sanctions committee at a critical juncture.

NATIONAL

NCAVES India Forum Organized by Union Ministry

NCAVES (Natural Capital Accounting & Valuation of the Ecosystem Services) India Forum for the year 2021 is organized by the Ministry of Statistics and Programme Implementation.

The NCAVES project is funded by the European Union (EU). NCAVES is Jointly implemented by the subsequent agencies: United Nations Statistics Division (UNSD), United Nations Environment Programme -UNEP & Secretariat of the Convention on Biological Diversity – CBD.

In India, it’s implemented by the subsequent agencies: the Ministry of Statistics and Planning and therefore the Ministry of Environment, Forests & global climate change (MoEF&CC) and therefore the National Remote Sensing Center (NRSC) in close cooperation.

India is one of five countries participating in this project. Other participating countries are China, Brazil, South Africa, and Mexico.

Participation in the project will be helpful to compile Environment Accounts as per the UN-SEEA framework and also helps for publishing environmental accounts in its publication “EnviStats India” once a year from 2018.

Under the NCAVES project, the India-EVL tool was developed.

Amendment proposed by govt will bring parity between pvt trade areas & APMCs

A key amendment to the farm laws proposed by the government to maintain parity between private trade and APMC mandis by providing equal fees substantially allays concerns of mandi operators and states over loss of revenues but has still failed to find favour with farm unions opposing the new agriculture laws.

Though the proposals, specifically on trade areas outside APMC ‘mandis’ and private traders, appear to be a “dilution” of the farm law on trade, officials believe the concerns expressed by farmers have, in fact, opened a door for necessary suggestions which may only improve benefits for farmers as well as states.

As far as law on contract farming is concerned, the government’s proposal for amendment will address a key concern of farmers on the issue of dispute resolution which is currently limited to district authorities. The government has now agreed for inserting a provision through amendment, providing an alternative of civil courts for dispute resolution.

NIXI Provides Free Domain in Local Indian Languages

NIXI (National Internet Exchange of India) provides a free IDN (Internationalized Domain Name), which contains any of the 22 official Indian preferred languages, and every IN name reserved by the registrant. Applicants also will receive free local language emails. This offer was created to stimulate the adoption of International (IDN) Domain Names and increase local language content.

According to Section 8 of the businesses Act, 2013, established in 2003, NIXI may be a non-profit organization. NIXI was established to form ISPs (Internet Service Providers) peer-to-peer with one another. the aim is to route domestic domestic traffic, to not bring it all the thanks to the United States/abroad. this protects international bandwidth, thereby improving service quality (reducing latency) and reducing ISP bandwidth costs.

Liberalized Authorised Economic Operator Package for MSMEs

Central Board of Indirect Taxes & Customs – CBIC introduces flagship Liberalised Authorised Economic Operator Package for Micro Small and Medium Enterprises (MSMEs).

The Central Board of Indirect Taxes & Customs – CBIC has adopted a replacement initiative to launch the flagship product “Liberalised MSME AEO Package” for Micro Small and Medium Enterprises (MSMEs) to understand rapid customs clearance.

In order to attract MSMEs to become Authorized Economic Operators (AEOs) and luxuriate in them, CBIC (Central Board of Indirect Taxes & Customs) has relaxed the compliance criteria provided the MSMEs have a legitimate certificate from their line-ministry.

The “Liberalized MSME AEO Package” scheme could even be a voluntary compliance program that gives faster customs clearance service for qualified stakeholders within the worldwide supply chain (namely importers, exporters, logistics service providers, custodians, etc.).

The relaxed requirements, allowing Micro Small and Medium Enterprises (MSMEs) who submit a minimum of 10 customs clearance documents within 1 year and who have clear compliance records within two years to use for the scheme.

TSPSC Notes brings Prelims and Mains programs for TSPSC Prelims and TSPSC Mains Exam preparation. Various Programs initiated by TSPSC Notes are as follows:-

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