- Power bills to go up with GST on meter rent, other services
- Power consumers in the state will have to dole out more in terms of meter rent and other miscellaneous charges following imposition of 18% Goods & Services Tax (GST) on them, as per a Central government stipulation. Power companies have already intimated the officials concerned about the changes.
- As per the GST notification, power consumers will have to pay 18% GST on meter rent, duplicate or new connections, application fee, bad meter checking and service line transfers.
- The Bihar electricity regulatory commission (BERC) had recently recommended 44% increase in power tariff, thereby putting a heavy load on power users. the state government will decide subsidy on power, based on the recommendations.
- The state government had made a new provision last year, transferring the subsidy amount on power bills instead of giving grants to the power companies.
· India and Morocco Sign Pact to Promote Mineral Exploration
- India inked a pact with Morocco under which focus would be laid on the evaluation of potential mineral resources and promoting exploration and mining through the participation of both public and private sector.
- The MoU was signed in New Delhi after the bilateral discussions between Mines Minister Narendra Singh Tomar and his counterpart Aziz Rabbah of Morocco.
· Bangladesh Ends Reservation in Government Jobs
- Bangladesh Prime Minister Sheikh Hasina has decided to scrap the quota system in government services after thousands of students marched across the country in protest against a controversial policy of setting aside jobs for special groups.
- The students began the protests against discriminatory quotas for government jobs, leaving scores of people injured at the Dhaka University.
- AIIB decides to invest $140M to improve Rural Connectivity in India
- Approximately 1.5 Million rural residents in State of Madhya Pradesh are going to directly benefit from improved livelihoods, education and mobility with the USD $ 140-Million loan approved by the Board of Directors of the Asian Infrastructure Investment Bank (AIIB) in a Meeting held recently in Beijing.
- The Project, co-financed with the World Bank, aims to improve the rural road connectivity and management for residents of about 5,640 villages who use the rural roads for daily activities.
· India’s GDP to Grow 7.3% This Fiscal, 7.6% In Next: ADB
- The Asian Development Bank (ADB)projected that India’s economic growth is set to rise to 7.3% this fiscal and further to 7.6% in the next financial year, on back of GST and banking reforms.
- According to the Asian Development Outlook (ADO), 2018, Indian economy grew 6.6% in the last fiscal and it would remain the fastest-growing country across Asia.
- NHAI signs agreement for its First International Project
- To provide seamless vehicular movement for enhancing trade, business, health, education and tourism between Indian, Myanmar and Thailand, the National Highways Authority of India has signed an agreement for upgradation of Yagyi – Kalewa section of highway (Milepost 40/0 to Milepost 115/5) in Myanmar to two lane with earthen shoulder.
- The agreement was signed by NHAI with M/s Punj Lloyd Ltd. – Varaha Infra Ltd. (JV).
- The project has been funded by Ministry of External Affairs, Government of India and would be executed on EPC mode at a cost of Rs.1177 crores.
· New fund for defence enterprises
- The Indian government is planning to set up a new fund for small and medium defence It will be a dedicated Defence and Aerospace SME fund.
- Ashok Leyland, said it was targeting revenue of about ₹50 billion from the defence sector. It currently has revenues of around ₹8 billion from the sector.
· Centre to set up a certification authority for calibration of pollution measuring instruments
- Noting that the absence of standardised pollution-measuring instruments has sometimes led to inaccurate air and water pollution data, the Centre has decided to set up a certification authority for calibration of all such equipments in the country.
- At present, different agencies use non-calibrated instruments at different measuring stations and this has led to variation in collected data.
- Since there is no standardisation of pollution-measuring instruments in India, there is no calibration of such equipments as per the standard norms considering different functional parameters. As a result, even the national Air Quality Index (AQI) does not give an absolutely correct picture of the level of pollution in different cities.
· Startups with up to Rs 10-crore investment to get tax concession
- Giving major relief to budding entrepreneurs, the government today allowed startups to avail tax concession only if total investment including funding from angel investors does not exceed Rs 10 crore.
- As per a notification by the commerce and industry ministry, an angel investor picking up stakes in a startup should have a minimum net worth of Rs 2 crore or should have an average returned income of over Rs 25 lakh in the preceding three financial years.
- A startup set up as a private limited company or limited liability partnership incorporated after April 1, 2016, would be eligible for tax concessions.
- The government launched the Startup India’ initiative on January 16, 2016 to build a strong ecosystem for nurturing innovation and entrepreneurship.
· CWG 2018: Rahul Aware Won India’s 1st Wrestling Gold
- Rahul Awarebagged India’s first wrestling gold medal at the Commonwealth Games 2018 after beating Canada’s Steven Takahashi in the final of men’s Freestyle 57 kg event.
- Before the final, the 26-year-old had claimed two dominating victories with the scorelines 11-0 and 10-0, while he defeated Pakistan’s Muhammad Bilal 12-8 in the semi-final.
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