Stamp duty increases 148% during April to July this year in Gujarat
Even as Covid-19 cases in the state are hovering at a bare minimum for the past few weeks, economic activity is registering an impressive growth. The state government’s income from various sources has increased by 36% in the period from April to July this year, as compared to the same period last year.
Significantly, compared to the corresponding period last year (2020), the revenue from stamp duty and property registration has spiked 148% in the period from April to July this year, reflecting a huge spurt in real estate transactions since April this year.
In the month of July, 2020 which was just after the lockdown, the income from stamp duty & registration fees was Rs 588 crore. In July this year, the income from stamp duty and registration touched the Rs 968 crore mark. Considering the April to July period, the revenue from stamp duty and registration in 2020 was Rs 1,234 crore. This year, the income from stamp duty and registration between April and July stands at Rs 3,061 crore.
Such impressive has been the stamp duty and registration revenue that the state government has earned 34% of its annual budgetary target of Rs 8,700 crore in the first four months of the financial year.
According to official figures of the state government, the number of property documents registered in the first four months of 2020-21 were 1.94 lakh, which increased to 4.07 lakh in the first four months of 2021-22, reflecting a whopping 110 % jump in total number of registered sale deeds in the state.
However, the state’s major source of income – Goods & Service Tax (GST) income has grown by only 6% in the first four months of the ongoing fiscal year as compared to the same period last year. Revenue from stamp duty and registration grew by 148% in the first four months of the present fiscal year as compared to the same period last year. Motor vehicles tax has registered a growth of 110% in the first four months of the financial year as compared to the corresponding period last year.
VAT (value added tax) on petroleum products showed a 81% jump in revenue in the first four months of the ongoing financial year as compared to the corresponding period last year. Government revenue from sale of liquor (prohibition & excise tax) has registered a 61% hike in the April-July period this year as compared to the same period last year.
Although the overall income of the government from all sources showed a marginal drop in the year 2020-21 (Rs 79,793 crore) as compared to the previous financial year 2019-20 (Rs 86,534 crore), the government is upbeat that it will be able to cross the Rs 1,08,035 crore revenue target this year.
UNSC adopts resolution on Afghanistan
The resolution demanded that the war-torn country, Afghanistan, not be used to threaten or attack any nation or shelter terrorists.
Resolution was put forward by the US, UK and France.
It was adopted with the votes of 13 Council members in favour.
Permanent members Russia and China abstained from the voting.
Taliban in Afghanistan
The Taliban seized power in Afghanistan on August 15, 2021. They captured the country two weeks before the United States was set to complete its troop withdrawal, ending the longest war in US history. This seizing also forced Afghan President Ashraf Ghani to flee to the United Arab Emirates.
United Nations Security Council (UNSC)
UNSC is one among the six principal organs of the United Nations. It is charged with ensuring international peace and security. It also recommends on the admission of new UN members to general assembly and approves any changes in the UN Charter. Some of its power include- establishment of peacekeeping operations, enactment of international sanctions, and authorization of military action. UNSC is the only UN body that can issue binding resolutions on member states.
Union Minister Participated in UNESCAP Regional Conversation Series
he Union Minister attended the UNESCAP Regional Conversation Series 2021.
♦ In commemoration of the seventy – fifth year of the United Nations, ESCAP equipped the Regional Conversation Series on Building Back Better with the goal to carry collectively member State representatives and numerous agencies of eminent personalities to share their insights & experiences, encourage actions and suggest solutions on how the Asia-Pacific region should build back higher from the COVID-19 pandemic through regional cooperation.
♦ The Union Minister shared India’s instructions and experiences that might also assist build a resilient future in the Asia-Pacific region.
♦ The minister was once attending the Ministerial Panel on Disaster, Climate and Health Resilience via video conferencing.
Ease 4.0 by Finance Ministry
FM unveiled the 4th version of Public Sector Bank (PSB) Reforms Agenda – EASE 4.0.
PSB reforms agenda – EASE (Enhanced Access and Service Excellence) was launched primarily based on the pointers made by PSB Whole Time Directors (WTDs) and senior executives in PSB Manthan in November 2017.
It encapsulates a synergistic method to make certain prudent and smooth lending, better purchaser service, simplified and superior credit, and robust governance and HR practices.
The Reforms Agenda is pursued thru a unique Reforms Index that enabled objective evaluation of growth on all key areas in PSBs — viz., governance, prudential lending, hazard management, technology- and data-driven banking, and outcome-centric HR — as properly as more advantageous transparency and accountability in the wider financial ecosystem.
EASE 1.0 was launched for FY 2019 and the 2d version for FY 2020.
The fourth edition EASE four objectives similar to the agenda of customer-centric digital transformation and deeply embed digital and statistics into PSBs’ approaches of working.
Survey on India Dimension – INDIAsize
The Ministry of Textile and National Institute of Fashion Technology (NIFT) launched an India dimension survey, to do away with the size confusion. It has been titled as INDIAsize. The survey used to be formally launched on August 26, 2021.
This initiative was once launched with the intention of introducing a new standardised dimension chart in ready-to-wear garb zones in India.
This project used to be introduced in February 2019. However, it was delayed because of covid-19 pandemic.
New sizing chart will include a measurement identification number. It will be created by mapping, categorising and defining the physique measurement and type.
New Initiative by Election Commission
The Commission launched a new initiative on August 26, 2021 in order to reach out to new voters through sending them a customized letter alongside a voter identification card.
Initiative was launched by Chief Election Commissioner Sushil Chandra and Election Commissioner Rajiv Kumar.
Under the new initiative, a package would be sent to new voters which will encompass voter information for new voters alongside with a congratulatory letter except a pledge for moral voting.
2020 Paralympics: Avani Lekhara wins Gold Medal
Avani Lekhara won medal in women’s 10m Air Rifle Standing (SH1) event
She is a 19-year-old Lekhara and created a record at Paralympics by equalling the world record of Ukraine’s Iryna Shchetnik.
Iryna Shchetnik had a record score of 249.6 in 2018.
Avani became the first Indian woman to win first gold medal at Tokyo 2020 Paralympics.
India has won 19 medals so far across all 11 editions of Tokyo Paralympics Games since 1960. It comprises of 5 gold, 8 silver, and 6 bronze.GPSC Notes brings Prelims and Mains programs for GPSC Prelims and GPSC Mains Exam preparation. Various Programs initiated by GPSC Notes are as follows:-
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