During January 2017, the Net Indirect Tax grew at the rate of 16.9% compared to corresponding month last year with growth rate in net collections for Customs, Central Excise and Service Tax at the rate of 10.1%, 26.3% and 9.4% respectively January, 2017;
Net Direct Tax collections up to January, 2017 are at Rs. 5.82 lakh crore which is 10.79% more than the net collections for the corresponding period last year.
Government has taken several measures for MSMEs in the backdrop of Demonetization which include:
1. The coverage of the loans covered under the Credit Guarantee Scheme for MSEs implemented by CGTMSE has been increased from Rs. 1 crore to Rs. 2 crore. Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) has issued a circular to all its Member Lending Institutions (MLIs) in this regard.
Ministry of Electronics & Information Technology is mandated to assist in the promotion of e-commerce. As regards trade related issues, the subject of ‘Internal trade’ has been allocated to Ministry of Consumer Affairs. Further, issues relating to Foreign Direct Investment (FDI) in the country are administered by Department of Industrial Policy & Promotion.
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has been apprised of the signing of the Memorandum of Understanding (MoU) of Cooperation between Technology Development Board (TDB), Department of Science & Technology, Govt. of India and Bpifrance, a Public Investment Bank, France.
The Union Minister of State (Independent Charge) Development of North-Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances & Pensions, Atomic Energy and Space, Dr Jitendra Singh briefed the media here today on the issues related to various initiatives as well as the budget allocation for various departments.
The Digi Dhan mela, a Government of India initiative aimed at incentivizing digitally enabled transformation in the country following the recent demonetization and spreading digital financial literacy among the public, was held at State Central Library in Shillong today. The one-day Digi Dhan Mela in Shillong was organized by the Information Technology and Communication Department, Government of Meghalaya in collaboration with NITI Aayog and Ministry of Electronics & IT, Government of India with an aim to promote digital and cashless transactions.
There are 77 airports in the country which are fully functional and having regular scheduled flight operations. This includes 72 airports of Airports Authority of India and 5 other Joint Venture/State Government/Private airports.
The Government is trying to promote cashless transactions as far as practically possible.
Digital payments give fillip to financial inclusion. It also enables digital trail of financial transactions leading to better tax compliance and reduces cost maintaining cash. Increased digital transactions will also enable small and micro enterprises to access formal credit.
The objectives of Act East Policy includes deepening of economic cooperation and expanding trade with countries in the Asia-Pacific Region. The process facilitates bilateral trade from North-East also.
Total estimated trade (as provided by Department of Revenue) between India and Myanmar through the North-East has grown from Rs. 7752.72 lakhs to Rs. 14452.26 lakhs between 2013-14 and 2015-16.
India and Austria signed a Protocol amending the existing Convention between the two countries for Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income here today. The Protocol was signed by Shri Sushil Chandra, Chairman CBDT on behalf of India and Mr. Georg Zehetner, Charge d’ Affaires, Embassy of Austria on behalf of Austria.
The provisions of Mines Act, 1952, Subordinate Rules and Regulations made thereunder are being administered for ensuring the safety in coal mines by Directorate General of Mines Safety (DGMS). Coalmine owners are responsible for implementing these provisions. This was stated by Shri Piyush Goyal, Minister of State (IC) for Power, Coal & New and Renewable Energy and Mines in a written reply to a question in the Rajya Sabha today.
The Chief Secretary of Maharashtra, Shri Swadhin Kshatriya has conveyed to the Centre that the State will be declared Open Defecation Free (ODF) by March 2018. He said this in a meeting with the Secretary, Ministry of Drinking Water and Sanitation, Shri Parameswaran Iyer, in Mumbai, and mentioned that Maharashtra is on track to achieve this goal.
Coal India Limited (CIL) has surrendered two prospecting licenses held by its subsidiary Coal India Africana Limited in Mozambique and presently does not hold any foreign coal assets. This was stated by Shri Piyush Goyal, Minister of State (IC) for Power, Coal & New and Renewable Energy and Mines in a written reply to a question in the Rajya Sabha today. The Minister further stated that CIL is scouting for acquiring coking coal assets abroad, as India is faced with constraints of techno-commercially viable domestic coking coal reserves.
As per the global studies on research investment, 2014, India spends 0.85% of GDP on research as against United States-2.74%, China-2.10%, Japan-3.58%, Germany 2.84% and South Korea-4.29%. The Government has emphasized the need for promoting research that is socially relevant and is of use to the end users. For this purpose, two schemes namely Impacting Research Innovation and Technology (IMPRINT) and Uchhatar Avishkar Yojana (UAY) have been launched.
Proposals for setting up of ten indigenous Pressurised Heavy Water Reactors each of 700 MW and two Light Water Reactors each of 1000 MW (Kudankulam Units-5&6) with foreign cooperation have been prepared and finalised. These are presently under consideration of the Government for accord of administrative approval and financial sanction.