DAILY SUMMARY AND ANALYSIS OF THE HINDU in Hindi 15'th June,2017 Presented by Amit Baghel
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Cabinet clears 5% interest subvention for crop loans >Amid growing protests over farm sector distress, the Cabinet has approved the extension of the interest subvention scheme for farmers to 2017-18. The RBI and the NABARD will steer the interest subvention Short-term crop loans up to Rs. 3 lakh Bfleclivelvreaducing the alte for farmers scheme. Highlights: implemented by the National. Bank for up to 3 lakh Earmers unable to repay the shortterm who repay on time the rate for farmers to 4%. Subvention of 2% The interest subvention scheme wll for all crop loans continue for one year and will be implemented by the National Bank for Agriculture and Rural Development (NABARD) and the Reserve Bank of .Additional3% India 2% subvention for all farmers who are affected by natural calamities ike drought, floods and depleted rainfall subvention to farmers e Subvention of 2% storage of produce for crop loans on time will receive an interest subvention of 2%. The scheme has been running since for post-harvest 2006-07, under which farmers are eligible for interest subvention of 2% for crop loans of up to Rs. 3 lakh . The Centre has set aside crore for the scheme 20,339 loans up to 6 months
Put off GST rollout to Sept. 1, Aviation Ministry tells FinMin GDS software Buying time full-service airlines, Jet Airways and Air India, rely on global distribution systems (GDS) software for booking tickets through travel agents and it would require key changes in Domestic airlines have expressed their inability to switch to rough travel agents and it would require key changes in the new tax regime on July 1. A look at the issues raised by the system to include GST. the Civil Aviation Ministry Favours foreign carriers . Delay implementation date to September 1 as crucial changes have to It has voiced concerns that the new GST framework would benefit foreign carriers more than the domestic ones on two counts-input tax credits and international travel. be intraduced in airlines global ticketing systems Input tax credit Treat direct On economy class travel, input tax credit can only be claimed on input services and not on procurement of goods, international flights at import of aircraft and its spares whereas on premium travel, par with connecting full input tax credits can be reclaimed on both input goods ights in terms of and services, under the present GST regime. taxation International Travel Extend input tax Under the GST, non-stop flights will become expensive than stop over flights. For instance, GST will apply on full ticket from Delhi to New York but in the case of a DelhiDubai New York flight, the GST will be charged on the Delhi-Dubai sector only. GST on international travel should apply on furthest break point from the origin [ of the Journey]. credit to economy class flights too, as in premium class flights under the present system - Exempt GST on stock transfers to enable free movement of alrcraft spares across States flghts too, as allowed
Time is money: ISRO to pay official clock keeper India aims to lift doing business' ranking The National Physical Laboratory (NPL), part of the Council of Scientific & Industrial Research, is host of the most accurate clocks in the country, and the only agency in India authorised to maintain Indian Standard Time (IST) In the report released last year, India was ranked 130 out of 190 countries where the country was placed 155 in 'starting a business', and 185 in 'dealing with construction permits India is banking on major reforms it carried out in areas such as 'starting a business' and dealing with construction permits' to significantly improve its ranking in the next edition of the World Bank's (ease of) Doing Business report. However, a higher ranking will depend on factors including the World Bank accepting these measures, the response from firms on whether these reforms have helped them as well as the performance of other countries The NPL maintains accuracy of 20 nanoseconds through the Primary Time Scale, an ensemble of five caesium clocks and one hydrogen maser. The rest of the world connects to these via tele-clocks satellite links, and Network Time Protocol services (which, for example, reflect in laptops' clocks). Airports, Parliament, banks, the Indian Space Research Organisation (ISRO), in fact anyone who needs to synchronise their computers, connect to a hierarchy of servers that link back to that of the NPL, which provides accurate time down to milliseconds for free. Until now, that is ra a Company electronically' (SPICe) It is now the only default application for incorporation of companies, The "mandatory" SPICe form combines five Fund crunch Its parent, the CSIR, has a funds crunch. Out of its 24,000 crore budget, only 10%-15% is revenue. CSIR wants to increase that to 25% this year, and 50% by 2020, and has directed its labs to start generating more revenue nc obtaining Director ldentification Number. reservation of company name, application for er. application for Tax deduction and collection Account Number (TAN) into one procedure,
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UPSC 2018 mains; Doing 'The Hindu Newspaper Analysis' since June,2017. YouTube- Gurukul Prime.