November 2024
Download PDFDaily Current Capsules - 23rd September 2019
Centre - States Relations
29th Meeting of the Northern Zonal Council
Relevance IN - Prelims ( about Zonal Council ) + Mains ( GS II Functions and responsibilities of the Union and the States, issues and challenges pertaining to the federal structure, devolution of powers and finances up to local levels and challenges therein
What's the NEWS
Corporate tax rates slashed to 22% for domestic companies and 15% for new domestic manufacturing companies
Relevance IN -Prelims ( about the amendments made in IT tax and Finance act 2019) + Mains ( GS III - Economic developments - steps taken by the government to boost the economy)
What's the NEWS
International Day of Peace 2019
Relevance IN - Prelims (about international day of peace)
What's the NEWS
Centre - States Relations
29th Meeting of the Northern Zonal Council
Relevance IN - Prelims ( about Zonal Council ) + Mains ( GS II Functions and responsibilities of the Union and the States, issues and challenges pertaining to the federal structure, devolution of powers and finances up to local levels and challenges therein
What's the NEWS
- Union Minister for Home Affairs, Shri Amit Shah chaired the29th meeting of the Northern Zonal Council was held at Chandigarh
- The meeting was attended by the Chief Ministers of Rajasthan, Punjab, Haryana, Himachal Pradesh, Governor of Jammu & Kashmir, Administrator of UT of Chandigarh, Lt. Governor of NCT of Delhi
- 20% of the area and 13% of the population is covered by the States in this region and North Zone has made important contribution in the economic growth of the country.
- Speedy investigation of cases of sexual offence/rape against women and children. It was decided that no stone should be left unturned to adhere to the time limits of 2 months for investigation and enquiry/trial in keeping with Criminal Law (Amendment) Act, 2018.
- The Council expressed satisfaction over release of Rs. 47,436 crores under CAMPA funds which was long overdue.
- Report of Survey of India relating to boundary disputes between Haryana and Himachal Pradesh was presented, on which there was broad consensus on methodology.
- It was agreed that coverage of all villages which have hitherto remained without any banking facilities within 5 km radial distance by a Bank/India Post Payments Service must be ensured within 3 months.
- The five Zonal Councils (Northern, Eastern, Northern, Southern and Central Zonal Councils) were set up under the States Reorganization Act, 1956 to foster Inter-State co-operation and co-ordination among the States.
- The Zonal Councils are mandated to discuss and make recommendations on any matter of common interest in the field of economic and social planning, border disputes, linguistic minorities or inter-State transport etc.
- They are regional fora of cooperative endeavor for States linked with each other economically, politically and culturally.
- Being compact high-level bodies, specially meant for looking after the interests of respective Zones, they are capable of focusing attention on specific issues taking into account regional factors, while keeping the national perspective in view.
Corporate tax rates slashed to 22% for domestic companies and 15% for new domestic manufacturing companies
Relevance IN -Prelims ( about the amendments made in IT tax and Finance act 2019) + Mains ( GS III - Economic developments - steps taken by the government to boost the economy)
What's the NEWS
- The Government has brought in the Taxation Laws (Amendment) Ordinance 2019 to make certain amendments in the Income-tax Act 1961 and the Finance (No. 2) Act 2019.
- In order to promote growth and investment, a new provision has been inserted in the Income-tax Act with effect from FY 2019-20 which allows any domestic company an option to pay income-tax at the rate of 22% subject to condition that they will not avail any exemption/incentive.
- The effective tax rate for these companies shall be 25.17% inclusive of surcharge & cess. Also, such companies shall not be required to pay Minimum Alternate Tax.
- Another new provision has been inserted in the Income-tax Act with effect from FY 2019-20 which allows any new domestic company incorporated on or after 1st October 2019 making fresh investment in manufacturing, an option to pay income-tax at the rate of 15%.
- The Government has also decided to expand the scope of CSR 2 percent spending. Now CSR 2% fund can be spent on incubators funded by Central or State Government or any agency or Public Sector Undertaking of Central or State Government, and, making contributions to public funded Universities, IITs, National Laboratories and Autonomous Bodies (established under the auspices of ICAR, ICMR, CSIR, DAE, DRDO, DST, Ministry of Electronics and Information Technology) engaged in conducting research in science, technology, engineering and medicine aimed at promoting SDGs.
International Day of Peace 2019
Relevance IN - Prelims (about international day of peace)
What's the NEWS
- The United Nations (UN) General Assembly has declared 21 September as International Day of Peace. This day is dedicated to fortifying the principles of peace, both within and among all member states and peoples. This year's celebrations are particularly significant because it is the 20th anniversary of the UN resolution on the programme of action on the culture of peace.
- International Day of Peace-2019 is devoted to all those people who have done their best efforts to bring peace in their communities or nations.
- International Day of Peace was established by adopting UN resolution on the culture of peace in 1981. In 2001, about two decades later, United Nation's General Assembly unanimously voted to designate the Day as a period of non-violence and cease-fire.
- United Nations has declared "Climate Action for Peace" as a theme for International Day of Peace-2019.
- United Nations believe that climate change has become a clear threat to international peace and security. The available data shows that salinization of water and crops is endangering food security, and the negative impact on public health is escalating.
Bilateral relations
President of Mongolia, paid a State Visit to India
Relevance IN - (Prelims - important takeaways of the bilateral meeting between India- Mongolia) + Mains (GS II Bilateral relations)
What's the NEWS
- At the invitation of Hon'ble President of India, Shri Ram Nath Kovind, H.E. Mr. Khaltmaagiin Battulga, President of Mongolia, paid a State Visit to India from 19 to 23 September, 2019.
- Bilateral talks between the two sides were held. The discussions covered bilateral, regional and international issues of mutual interest.
- The two sides recalled the historic State Visit of Prime Minister Modi to Mongolia in May 2015, which had led to the upgradation of bilateral ties to the level of Strategic Partnership which is based on universally recognized principles of independence, sovereignty and equality of states, the fundamental ideals of the Treaty of Friendly Relations and Cooperation between Republic of India and Mongolia, signed on February 22, 1994, and other bilateral documents.
Joint Statement on Strengthening the Strategic Partnership between India and Mongolia
- Steps taken by both the countries to promote people-to-people exchanges and simplify the Visa regime for broad-basing the bilateral Strategic Partnership.
- India decided to introduce the e-Visa facility for the Mongolian short-term visitors. In reciprocation, Mongolia announced a "visa on arrival" scheme arrangement for Indian short-term visitors to encourage mutual tourism.
- Mongolia reiterated its support to India's permanent membership bid at the UNSC. Both sides also reaffirmed their support for their respective bids for a non-permanent seat in the UNSC for the terms 2021-2022 and 2023-2024 respectively.
- Both nations appreciated the regular participation of their armed forces in "Nomadic Elephant" military exercise in India and the "Khaan Quest" exercise in Mongolia. The two sides agreed to continue the cooperation in the field of defence exchanges and training.
- The project related to Cyber Security Training Centre to be established in Mongolia with Indian assistance is in advanced stage of implementation. The Indian side reaffirmed to the Mongolian side its support for capacity building and infrastructure development in the field of cyber security.
- Mongolia appreciated the significant progress made in the implementation of the ‘Mongol Refinery Project' under India's Line of Credit (LoC) of US$ 1 billion.
- India further agreed to extend an additional LOC of US $236 million for the project, taking India's total commitment for the project to US$ 1.236 billion.
- Both sides also decided to train engineers and technicians to be employed at the "Mongol Refinery Project" in India through Scholarship from the Indian Government under the existing Indian Technical and Economic Cooperation (ITEC) programme.
- Mongolia conveyed its interest to join the ISA and India invited the Mongolian side to consider signing the Framework Agreement of the International Solar Alliance as soon as the amendments to Framework Agreement get ratified by ISA's member countries.
- India also announced its decision to extend assistance for upgrading the building of Mongolia's External Affairs Ministry into a green and energy-efficient solar building.
- India and Mongolia further reviewed the progress on setting up of the ‘Atal Bihari Vajpayee Centre of Excellence in Information & Communication Technology' being developed in Mongolia with Indian assistance.
Prime Minister Narendra Modi and Mongolian President Khaltmaagiin Battulga jointly unveiled a statue of Lord Buddha at the Gandan Monastery in Mongolia via videoconferencing.
Know! about the Golden statue and Gandan Monastery
- The golden statue with Lord Buddha holding a bowl was unveiled at a brief ceremony held at the prime minister's Lok Kalyan Marg residence.
- The Gandan Monastery is located in Mongolia's capital Ulaanbaatar.
- In May 2015, Modi had visited the monastery where he presented a Bodhi tree sapling describing it as a token of friendship from the Indian people.
- He had also announced to gift a statue of Lord Buddha to the monastery, underlining the common Buddhist heritage and civilisational links between the two countries and people
- The statue depicts Lord Buddha in a sitting posture along with his two disciples conveying the message of compassion along with peace and co-existence.
- Gandan is the largest and most significant monastery in Mongolia.
- Built in the mid 19th century, it is the only monastery where Buddhist services continued to function even during the Communist period.
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