Only 62% of export credit target met in pandemic year
As export volumes across various sectors declined in the pandemic year, only 62.11% of the export credit targets were met in the pandemic year. The export credit in 2020-21 stood at Rs 1,036 crore against a target of Rs 1,668 crore laid out in the service area credit plan (SACP) according to the latest report by state level bankers’ committee (SLBC).
Interestingly, barely 5% of the targeted accounts under SACP 2020-21 have sought credit, according to the SLBC report. Bankers said that export credit has gone down as exports across major sectors took long to recover in the subsequent quarters.
Tax Inspectors Without Borders – TIWB
Bhutan launched the Tax Inspectors Without Borders (TIWB) programme in collaboration with India.
It is a collaborative effort between the United Nations Development Programme (UNDP) and the Organization for Economic Cooperation and Development (OECD) (OECD).
The programme has been launched in Bhutan, with India serving as the Partner Jurisdiction.
The Tax Expert for this programme has been provided by India.
This programme, which is expected to last about 24 months, aims to assist Bhutan in strengthening its tax administration by transferring technical know-how and skills to its tax auditors and sharing best audit practises in collaboration with the UNDP and the TIWB Secretariat.
The program’s primary focus will be on international taxation and transfer pricing.
The TIWB Initiative aims to facilitate the sharing of tax audit knowledge and skills with developing-country tax administrations through a targeted, real-time “learning by doing” approach.
Selected experts will work directly with local tax officials on current audits and audit-related issues pertaining to international tax matters as well as general audit practises applicable to specific cases.
Results of Ganga Quest 2021 – Ganga Dussehra
Ganga Quest, a national online quiz on Ganga, rivers, and the environment, was first conceived in 2019 as an educational programme to sensitise children and youth towards the River Ganga in order to strengthen the Namami Gange programme of the Ministry of Jal Shakti, Government of India.
Ganga Quest is a competitive knowledge-building platform, an awareness initiative, and a scientific baseline determination exercise designed to assess knowledge gaps and attitude orientation toward the Ganga and Rivers.
Ganga Quest is an international bilingual (Hindi and English) online quiz about Ganga organised by the National Mission for Clean Ganga (NMCG) and the TREE Craze Foundation (TCF), a non-profit organisation dedicated to Ganga, Rivers, and the Environment.
National Population Register – NPR
According to a Union Home Ministry manual, migrants from six non-Muslim minority communities in Afghanistan, Pakistan, and Bangladesh can also produce National Population Register (NPR) enrolment slips as proof of the duration of their stay in India when applying for long-term visas (LTVs).
The NPR number is one of more than ten documents that could be provided to apply for an LTV, which is a prerequisite to acquiring Indian citizenship either by naturalisation or registration under Sections 5 and 6 of the Citizenship Act, 1955, for the six non-Muslim communities.
These communities are: Hindus, Sikhs, Parsis, Christians, Jains, and Buddhists.
For the first time, a special provision for LTVs for Hindus and Sikhs from Pakistan and Afghanistan was made in 2011.
It was also claimed that the awareness campaign has nothing to do with the Citizenship (Amendment) Act, 2019, which is intended to help undocumented migrants from the six groups who entered India before the 2014 cut-off date.
The CAA has not yet been implemented.
Launch of ITAT e-DWAR
Union Law Minister launches ITAT e-DWAR.
ITAT e-DWAR is the Income Tax Appellate Tribunal’s e-filing portal (ITAT). The portal would allow parties to electronically file their Appeals, Miscellaneous Applications, documents, paper books, and so on.
The portal will improve accessibility, accountability, and transparency in the ITAT’s day-to-day operations.
It will not only reduce the use of paper, resulting in cost savings, but it will also rationalise case fixation, resulting in faster case disposition.
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