04 May 2018: UPSC Exam PIB Summary & Analysis

Change in the shareholding pattern of GSTN

  • The Goods and Services Tax Network – Special Purpose Vehicle (GSTN-SPV) was created as a private limited, not-for-profit company under Section 25 of the Companies Act, 1956 (Section 8 of the Companies Act, 2013) by Govt. of India.
  • The objective is to provide shared IT infrastructure and services to Centre and States Governments, tax payers and other stakeholders for implementation of Goods and Services Tax (GST) in the country.
  • Presently, the Central Government and State Government are holding 24.5% equity shares respectively and the remaining 51% are held by non-Governmental institutions and through various mechanisms, GSTN is under strategic control of government.
  • Now both central government and state government will acquire entire 51% of equity held by the Non-Governmental Institutions in GSTN amounting to Rs. 5.1 crore.

 

NITI Aayog to Collaborate with IBM

  • A Statement of Intent (SoI) was signed by NITI Aayog and IBM to develop a crop yield prediction model using Artificial Intelligence (AI) to provide real time advisory to farmers in Aspirational Districts.
  • The partnership aims to work together towards use of technology to provide insights to farmers to improve crop productivity, soil yield, control agricultural inputs with the overarching goal of improving farmers’ incomes.
  • First phase of the project will focus on developing the model for 10 Aspirational Districts across the States of Assam, Bihar, Jharkhand, Madhya Pradesh, Maharashtra, Rajasthan and Uttar Pradesh.
  • It also includes deployment of weather advisory, rich satellite and enhanced weather forecast information along with IT & mobile applications with a focus on improving the crop yield and cost savings through better farm management.
  • IBM will be using Artificial Intelligence to provide all the relevant data and platform for developing technological models for improving agricultural output and productivity for various crops and soil types, for the identified districts.
  • NITI Aayog, on its part, will facilitate the inclusion of more stakeholders on the ground for effective last mile utilisation and extension, using the insights generated through these models.

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