Amit Mitra appointed as new Chairman of GST committee of State FMs

West Bengal Finance Minister Amit Mitra has been appointed as the new Chairman of Empowered Committee of State Finance Ministers on Goods and Services Tax (GST). Amit Mitra was elected at the meeting of State Finance Ministers that was also attended by the Union Finance Minister Arun Jaitley. Amit Mitra will succeed Kerala Finance Minister K M Mani who had to resign in November 2015 over the corruption charges. With this, he becomes 2nd chairman of the committee which is tasked to frame rules for rolling out of the ambitious GST regime in the country. By convention, the head of the Empowered Committee of State Finance Ministers on GST is always appointed from an opposition ruled state. Amit Mitra is an economist by the profession who had served as Secretary General of industry association FICCI before joining politics in 2011. He was appointed as Finance Minister of West Bengal government led by the Chief Minister Mamata Banerjee.
About Goods and Services Tax (GST):

• GST aims to bring uniform indirect tax regime throughout the country by subsuming central and state indirect taxes into single indirect tax.


• It seeks to enhance fiscal federalism by removing indirect tax barriers across states & integrate the country into a common market, boosting government revenue and reducing the business costs.

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Amit Mitra appointed as new Chairman of GST committee of State FMs

Prasar Bharati signs a MoU with EBC

Prasar Bharati has been signed a MoU with Empressa de Brazil Communicacao (EBC) in connection with several broadcast related activities including exchange of news, programmes & co-production. This MoU is being described as historical as it is the 1st agreement that Prasar Bharati has signed with any South American country. It was signed between the Prasar Bharati Chief Executive Officer Jawhar Sircar & EBC Vice President Mr Mario in Brasilia, Brazil. The MoU includes long list of Indian programmes to be broadcast on EBC network including documentaries, science programs, serials and Portuguese programs from Goa. Public broadcaster Prasar Bharati already has signed similar MoUs with Russia & China realising the importance of BRICS in this field.

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Prasar Bharati signs a MoU with EBC

Union Government launched ENVIS portal

Union Minister of Environment, Forest & Climate Change Prakash Javadekar has launched Environment Information System (ENVIS) portal and mobile application. It was launched on the sidelines of the national interaction-cum-evaluation workshop for Environment Information System. ENVIS Portal (http://envis.nic.in) runs parallel with the objectives of Digital India which works on improving the digital literacy in the environment sector and deliver services digitally. It will play important role integrating network of ENVIS centres.
About Environment Information System (ENVIS):

• ENVIS is central sector Scheme of the MOEFCC implemented since 1982.


• The purpose of the scheme is to integrate country wide efforts in environmental information collection, storage, collation, retrieval & dissemination.


• The ENVIS network presently consists of 69 centres, of which 29 are under environment departments of various state governments UT administrations while remaining 40 are operated by the environment related government and non governmental organisations.

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Union Government launched ENVIS portal

Union Cabinet gives approves TFA of the WTO

Union Cabinet has approved a proposal to notify the Trade Facilitation Agreement (TFA) of the World Trade Organization (WTO). Decision in this regard was taken by the Union Cabinet meeting chaired by the Prime Minister Narendra Modi in New Delhi as per India’s consonance of ‘ease of doing business’ initiative. The proposal regarding ratification & acceptance of the instrument of acceptance of protocol of TFA to WTO Secretariat was also approved by the Union Cabinet. The National Committee on Trade Facilitation The Union Cabinet also has decided to constitute National Committee on Trade Facilitation (NCTF) to facilitate both domestic co-ordination and implementation of the provisions of the Agreement. NCTF will be set up under the Joint Chair of Secretary under the aegis of Union Ministry of Commerce and Industry’s Department of Revenue & Secretary, Department of Commerce. What is Trade Facilitation Agreement (TFA)? The TFA is the WTO’s 1st ever multilateral accord that aims to simplify customs regulations for the cross border movement of goods. It was outcome of WTO’s 9th Bali ministerial package of 2013. The agreement includes provisions for Lowering import tariffs and agricultural subsidies: It will make it easier for developing countries to trade with the developed world in global markets.
Abolish hard import quotas:

• Developed countries would abolish hard import quotas on agricultural products from the developing world and instead would only be allowed to charge tariffs on amount of agricultural imports exceeding specific limits.

Reduction in red tape at international borders:

• It aims to reduce red tapism to facilitate trade by the reforming customs bureaucracies & formalities.


• The TFA shall enter into force for the notified members upon acceptance by the two-3rd (107 countries) WTO Members.


• So far 69 countries of the 162 WTO members have ratified this pact. If this agreement is properly implemented, it may create US One trillion dollars’ worth global economic activity which may add 21 million new jobs & lower the cost of doing international trade by 10 to 15 percent.

Background:

Earlier Union Government had refused to ratify TFA till its concerns about public stock holding for food security are resolved. But in order to address India’s concerns WTO had agreed to amend the Bali agreement, providing India an indefinite reprieve on food stock holding.

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Union Cabinet gives approves TFA of the WTO

1st time India participates in Cobra Gold 2016 multilateral exercise

For the 1st time, India has participated in the Cobra Gold 2016 multilateral exercise hosted by the Thailand after 12 member Indian Army delegation joined it. In this edition of multilateral exercise, India has accorded as an observer plus status keeping in view its increasing regional operability. Decision regarding India’s participation was earlier conveyed to Thailand during the Vice President Hamid Ansari’s visit to the country. Key facts:

Cobra Gold 2016 is 35th edition of multilateral exercise in which 35 countries have participated and its main theme is humanitarian assistance and disaster relief. In the 10 day exercise (from 9-19 February), over 8564 personnel are participating from countries like Indonesia, US, Japan, Malaysia, Singapore, South Korea and others.
About Cobra Gold multilateral exercise:

• Cobra Gold multilateral exercise is the largest Asia Pacific military exercise held annually in Thailand.


• It was 1st held in 1982 in order to improve relations and co-ordination between the armed forces of Thailand & United State in both humanitarian and hostile military efforts.


• The exercise was proven effective in improving co-ordinated military response during numerous natural disasters including the 2004 Indian Ocean tsunami, 2011 Tōhoku tsunami and aftermath 2013 Typhoon Haiyan in Philippines

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1st time India participates in Cobra Gold 2016 multilateral exercise

The Union Government has unveils National Capital Goods Policy 2016

Union Government has unveiled a National Capital Goods Policy 2016 to give an impetus to the capital goods sector and the Make in India initiative. It was unveiled by the Union Minister of Heavy Industry and Public Enterprise Anant Geet on the occasion of the Make in India Week held in Mumbai, Maharashtra. This is for the 1st time, the Union Government (Ministry of Heavy Industry and Public Enterprise) has framed such national policy for the capital goods sector.
Key features of Policy:

• Increase the exports of capital goods from the current 27-40 percent of production. Increase share of domestic capital goods production in terms of demand from 60-80percent in order to make India a net exporter of capital goods.


• Facilitate improvement in technology depth across sub sectors, ensure mandatory standards, increase skill availability and promote growth & capacity building of MSMEs.


• Seeks to address some of the key issues including availability of finance, raw material, productivity, quality & environment friendly manufacturing practices, innovation & technology, creating domestic demand and promoting exports.


• Enhance Indian made capital goods export through a ‘Heavy Industry Export or Market Development Assistance Scheme (HIEMDA)’.


• Strengthening existing scheme of Department of Heavy Industry on enhancement of competitiveness of Capital Goods sector by increasing the budgetary allocation.


• Seeks to launch a TDF (Technology Development Fund), upgrade existing and setting up new testing and certification facility.


• It also seeks to make standards mandatory in order to reduce sub standard machine imports and provide opportunity to local manufacturing units and launch scheme of skill development for Capital Goods sector.

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The Union Government has unveils National Capital Goods Policy 2016

DRDO to conduct captive flight trails of Anti Radiation Missile

Defence Research & Development Organisation (DRDO) has decided to conduct captive flight trials of an advanced, state of the art Anti Radiation Missile in April May 2016. During captive flight trials DRDO scientist will evaluate performance of the missile’s heat seeker, structural capability, navigation and control system or aerodynamic vibrations. Later by the end of 2016, actual ground testing will be conducted and later it will be fired from Su 30 during the actual flight trial.
About Anti-Radiation Missile:

• Anti-Radiation Missile is an air to surface tactical missile indigenously developed by the Defence Research & Development Laboratory including its heat seeker.


• It is capable of targeting enemy’s air defence capabilities by attacking radars and communication facilities by picking up the radiation and signals from these facilities.


• The missile uses dual pulse propulsion system as in the case of Long Range Surface-to-Air Missile(LR-SAM) instead of thrust propulsion.


• ARM has range of 100 to 125 km and will be mounted on combat aircraft Sukhoi (Su-30) and Tejas-Light Combat Aircraft (LCA).


• The ARM missile will be inducted into Indian Armed Forces till 2018 after successfully conducting a number of developmental trials.


• On its induction, India will join other few nations including the United State & Germany having ARMs.

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DRDO to conduct captive flight trails of Anti Radiation Missile