India concludes MoU on MSME Cooperation with Indian Ocean Rim Association (IORA) Member Countries
- The MoU will take effect for each party upon signature by 5 countries
The focus areas of the Memorandum of Understandings (MoUs) are
- To finalize linkages and alliances amongst MSMEs organizations, associations and various institutions engaged in MSME development in their countries.
- Exchange best practices, policies and programs for MSME development
- Exchange greater involvement of MSMEs in the global supply chain, increase their market access.
- Promote youth and women’s economic empowerment.
- Encourage synergies with the IORA forum
- An IORA special fund has been created for the member countries to use it for to carrying out activities envisaged under this MoU.
- The IORA is formed by 21 member countries
- Was formed in 1997
- The present chair is Indonesia
Corporate push to Namami Gange
- The ministry organised a workshop in order to give a corporate push to Namami
- The representatives from Public sector and private sector attended the workshop
The Clean Ganga Fund
- Set up in 2014
- Is a trust chaired by Union Finance Minister
- The contributions in this fund by corporates are considered as a part of CSR (Corporate Social Responsibility)
About National Mission on Clean Ganga (NMCG)
- It’s a project/programme announced by the central government which focuses on integrating various efforts or earlier missions related to cleaning Ganga
- The project will cover 8 states
- The Program will be implemented by NMCG and its state counterpart organisations – SPMGs (State Program Management Groups)
- The NMCG (National Mission on Clean Ganga) is the implementing authority/arm of the National Ganga River Basin Authority (NGRBA)
- The program has an outlay of Rs 20000 Cr spread across five years (from 2015 to 2020)
Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 – Amendment
- The government of India has given a clarification that the co-operative banks are not Authorized Banks to collect deposits under the mentioned scheme
- Under this scheme, any person who has undisclosed income can come forward disclose the income and deposit the tax to the Authorized Banks
- The scheme will be open from December 17, 2016 till 31st March 2017
- Tax will be levied at 30% of the undisclosed income, surcharge @33% of tax and penalty @10% of such income is payable
- Also 25% of the undisclosed income will be deposited in Pradhan Mantri Garib Kalyan Deposit Scheme, 2016. The deposits are interest free and have a lock-in period of four years.
- The income declared under the Scheme shall not be included in the total income of the declarant under the Income-tax Act for any assessment year.
- The declarations made under the Scheme shall not be admissible as evidence under any Act (eg. Central Excise Act, Wealth-tax Act, Companies Act etc.). However, no immunity will be available under Criminal Acts mentioned in section 199-O of the Scheme
- If the declarations are not made, then the taxation level may go up to 77.25% of such income and further a penalty of 10% of the income will also be levied.
Government to support Tangaliya weavers in purchasing looms
- The government to provide support/assistance amounting 90% of the looms
- The minister has announced the formation special association of Tangaliya Workers, which will work in their interest
- The minister also proposed that the weavers should avail the MUDRA loans
About Tangaliya Weaving tradition
- It is a 700-year-old indigenous weave of Gujarat which employs an exquisite technique of weaving, using raw wool yarn
- Tangaliya is a dotted woven textile in Sundernagar District (Saurashtra).
- It is found only in Gujarat
- It is worn by the women of Bharwad Shepherd Community
CCI (Competition Commission of India)
- CCI has imposed penalties on three firms for bid rigging of tenders floated by Indian Railways for procurement of Brushless DC fans in the year 2013
- CCI has imposed penalties on 7 cement companies for bid rigging of a tender floated by the Director, Supplies & Disposals, Haryana, in the year 2012, for procurement of cement to be supplied to Government Departments/ Boards/ Corporations in the State of Haryana
- The act passed in 2002 and became functional in 2009
- It is a quasi-judicial body
- To prevent practices having adverse effect on competition
- To promote and sustain competition in markets
- To protect the interest of the consumers
- To ensure freedom of trade
In the Indian markets. The act also mandates an extra territorial jurisdiction to the commission
- The act was amended in 2007, Competition Appellate Tribunal(COMPAT) was set up to hear appeals on the orders of CCI
- International Competition Network (ICN) has decided that Competition Commission of India would host the 2018 ICN Annual Conference (CCI is a member of ICN since 2003 and last such conference was held in Singapore in 2016, Portugese will hold it in 2017)
- 28TH Dantan Gramin Mela -2017 inaugrated at Dantan, Paschim Medinipur, West Bengal
- Shri Alok Kumar Verma Appointed as New CBI Director