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12th June 2017 Part-1: Daily News Analysis (in Hindi)
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GST- What is Revenue Neutral tax; child Labour law

Jatin Verma is teaching live on Unacademy Plus

Jatin Verma
Have appeared in UPSC CSE thrice. Have been taking Unacademy Plus courses Academics- Polity, Economics & Current Affairs.

U
Unacademy user
whether the answer for the starred question should be given orally
wo jo 20 lakh ka turnover hai ,wo salana hai ya masik ?
R
Rajeev
2 years ago
Annual
Jatin Verma
2 years ago
salana{yearly}
dhanyawaad sirji !!!
thank you sir.this way of yours is very right to focus on issue completely rather than daily analysis,it is making issue more understandable and even gets fully covered.
sir.. in newspaper it's written overthere that ...AG'S TENURE of three year will end on june 19..................BUT in constitution written that his tenure is not fixed ..........??????can u explain
Hi Sir, where can I get the same videos in english. I can't understand Hindi well. Please help me.
sir editorial discussion kha hai of the hindu... plz provide download link ...
  1. DAILY THE HINDU NEWS ANALYSIS JUNE 12, 2017 By Jatin Verma, Educator, Unacademy. unacademy


  2. Page l: GST Council decides to lower rates on 66 items. . The Goods and Services Tax (GST) Council decided to reduce tax rates on 66 items including cashew nuts, packaged foods such as sauces and pickles, agarbatti, insulin, school bags, children's colouring books, cutlery, and some tractor components. The Council has also reduced the tax rate on cinema tickets costing 100 or less. [Entertainment Tax- Entry-33; Gambling- Entry-34]. . Trade and business with turnover of up to Rs. 20 lakh will be exempted from GST Apart from this, there will be a composition scheme for businesses with turnover of up to Rs. 75 lakh. Composition Scheme : for bringing traders, manufacturers and restaurants below Rs 75 lakh turnover under the Composition Scheme. Under this scheme, tax will be charged as: 1% from traders, 2% from manufacturers and 5% from restaurants, because they are mass job creators.]


  3. Traders who have below Rs 75 lakh turnover will have to pay I per cent tax, manufacturers will have to pay 2 per cent while restaurant businesses will have to pay 5 per cent if they opt to go for the Composition Scheme under GST . Catch: However, under it, no input tax credit will be made available . GST Council has been established as per Article 279A of the Constitution. It is joint forum of the Centre and the States to make recommendations on important issues related to GST. Union Finance Minister is Chairperson of the council. Besides, Union Minister of State (MoS) in-charge of Revenue of finance and Minister In-charge of taxation or finance or any other Minister nominated by each State Government are its Members. . Revenue Neutrality: The states will be given full compensation for the first five years for any shortfall in revenue from what 14% annual growth from the 2015-16 base would have otherwise yielded. The compensation will be funded via a clutch of cesses, including the extent clean energy cess and the impost on tobacco.


  4. iMaharashtragrants farm loan waiver: The total outstanding crop loans amount to around 1.34 lakh crore. Rightful Share to Farmer: Government has agreed to implement a 70:30 formula for milk production (70% of selling amount to the farmer, 30% to the distribution chain). e Main recommendations of Swaminathan Report: Distribute ceiling-surplus and waste lands; Prevent diversion of prime agricultural land and forest to corporate sector for non-agricultural purposes. Ensure grazing rights and seasonal access to forests to tribals and pastoralists, and access to common property resources. Establish a National Land Use Advisory Service, which would have the capacity to link land use decisions with ecological meteorological and marketing factors on a location and season specific basis. Set up a mechanism to regulate the sale of agricultural land.based on quantum of land, nature of proposed use and category of buyer.


  5. Odisha asks Collectors to act as agents of change [Polity & Governance] Stresses 3T formula-technology, teamwork, transparency Encouraging team spirit, ensuring transpar- ency and effectively using technology to provide last mile delivery of services to the people Transparency Technology Teamwork


  6. s.Satyarthi backs new child labour law. The Child Labour (Prohibition and Regulation Amendment) Act, 2016, had some lacunae when it was enacted, but the rules noti- fied recently by the govt have addressed the weaknesses . Various child rights activ- ists, including Mr. Satyarthi, had earlier criticised the law, enacted in July2016, for reducing the number of hazardous occupations from 83 to three and allowing children to assist in family enterprises. But with the new rules, the issues have been properly addressed. Earlier, the interpretation was that any child could help in family enterprises. But if you look at the rules, it's possible only in a few occupations, and hazardous occupations have also been clearly defined. The Labour and Employment Ministry on June 2 notified the Child Labour (Pro- hibition and Regulation) Rules, 2017, which state that children can help in family enterprises only for three hours after school hours Children could not extend any help between 7 p.m. and 8 a.m.


  7. The salient features of the new act: It has banned employment of children below 14 in all occupations and enterprises, except those run by his or her own family, provided that education does not hampered. . The 1986 act prohibited the employment of children under 14 years in certain occupations like bidi-making, mines, domestic work, power looms, automobile workshops, carpet weaving etc. Addition of a new category of persons called "adolescent": It defines children between 14 to 18 years as adolescents and bars their employment in any hazardous occupations. The act makes child labour a cognizable offence: Employing children below 14 years wil attract a jail term between 6 months to two years or a penalty between twenty-thousand to ifty thousand rupees or both for the first time. . The act has a provision of creating Rehabilitation Fund for the rehabilitation of children.


  8. .Not interested in second term as A-G, says Rohatgi The Attorney General for India is the Indian government's chief legal advisor, and its primary lawyer in the Supreme Court of India. He is appointed by the President of India under Article 76(1) of the Constitution and holds office during the pleasure of the President. Attorney General is not a full time Government servant. He is an advocate of the government and is allowed to take up private practice, provided the other party is not the state. He has the right to speak and take part in proceedings of both the houses of parliament including joint sittings. However, he cannot vote in parliament. Attorney general can also become a member of any parliamentary committee but in the committee, he cannot vote. . Attorney General has all the powers and privileges of an MP. . Attorney general has right of audience in all courts within the territory of India In Britain the Attorney General is a member of the Cabinet. n India Attorney General is not a member of the cabinet and in cabinet, there is a Minister of law.


  9. India, Israel set to expand defence ties. . As India and Israel celebrate 25 years of their diplomatic relations, Tel Aviv has quietly emerged as one of the largest and trusted suppliers of defence equipment to the Indian armed forces, which rely heavily on imports. . After protracted negotiations, the two countries are close to concluding a deal for Spike Anti- Tank Guided Missiles. This will be the latest in a series of big-ticket defence deals approved recently Navy Chief and Chairman of the Chiefs of Staff Committee left on a four- day visit to Israel to continue the "high-level defence exchanges." continue the "high-level defence exchanges! . The purchase of Spike missiles was approved by the Defence Acquisition Council (DAC) in October 2014, but negotiations on the contract ran into trouble over cost and technology transfer The 3,200-crore deal includes 8,000-plus missiles, 300-plus launchers and technology transfer.The deal is likely to expand as the Army intends to equip its 382 infantry battalions and 44 mechanised regiments with new missiles.


  10. . Diplomatic Relations: lished full diplomatic ties with Tel Aviv on January 29, 1992, Israel has made in-roads into the Indian defence sector, earning praise for reliability and technological sophistication. It is well entrenched in the areas of Unmanned Aerial Vehicles, air defence systems, special forces equipment and electronic warfare equipment