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16th April 2018 Part-3: Daily News Analysis
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Indian Exports scenario and ADB

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.

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Chile: A long and narrow coastal southern cone country on the west side of the Andes Mountains. Stretches over 4300 Km. North-South but only 350 Km. at its widest point East-West. It is situated within the Pacific Ring of Fire. Chile is among the longest North-South countries in the world. THANK YOU SIR. Sir, the answers of the left of the questions I will write down later after studying about them.
A predicate offence is a crime that is a component of a more serious criminal offence. For example, producing unlawful funds is the main offence and money laundering is the predicate offence. Generally, the term "predicate offence" is used in reference to underlying money laundering and/or terrorist finance activity.
we will need labour code ,assimilating all labour in one code ,hire and fire policy and also labour Strikes need to be prevented
sir there is no slide in between 10-12 minutes..please have a look .thanks you
hello sir why russia is supporting syria ?
  1. want to be startin anses hoiag 2 but thh Important News Articles (Taking Delhi/Noida edition as the base) Page 2 East News: Nagaland loses soil heavily due to 'jhum Page 7 Nation News: Govt. ties up with IIT-Delhi for safety switches on vehicles y has pl Page 7 Nation News: Chip in for viewership data, says I&B Ministry he # Page 10 News: Arun Jaitley takes oath as Rajya Sabha member for new term reve Page 10 News: Pakistan denies Sikh pilgrims consular access Page 11 News: PMLA will need more changes Page 12 World News: Modi's visit could see pacts on migrants, Ayurveda centre Page 12 World News: U.S. will impose new sanctions on Russia Page 13 Business News: 'Robust exports can help India grow at 890, Page 13 Business News: 'NPAs, high debt level to ebb in 6-9 months' Page 13 Business News: 'Closing down firms will not help local economy' Page 13 Business News: E-tailers may have to clarify if they profiteered from GST cut Page 13 Business News: India to ally with China on 'Asian premium' Page 14 Business Review: What demonetisation did to tax collections hink h causeb ferent et t a pu OLIse rk and t stay


  2. want to be startin anses hoiag 2 cranted to show the hos ht to Page 11 News: Prevention of Money Laundering Act will need more changes at thh India wi have to make money laundering an explicitly standalone offence to upgrade its compliance ahead of the on-site mutual evaluation by the Financial Action Task Force (FATF), which is due in November-December 2020. FATF is an international body that sets global standards for fighting illicit finance. (p he Among the key recommendations of the FATF, is that money laundering be made a standalone Despite several amendments, the Prevention of Money Laundering Act (PMLA) remains a This means a case under the Act depends on the fate of cases pursued by primary agencies such as offence. k h predicate-offence-oriented law. ent the CBI, the IT Department or the Police. The latest instances are the verdicts in the 2G spectrum and Aircel-Maxis cases by the CBI courts, in which the money laundering angle probed by the Enforcement Directorate fell apart Karnataka case: On the issue of attachment of assets, however, the Karnataka High Court, in a 2016 judgment, appreciated the agency's stand that money laundering was a standalone offence in view of Sections 5 and 8 amended in 2013,_read with the definition of 'property' in Section 2(1(v) of the Act ts that


  3. want to be startin anses hoiag 2 cranted to show the hos ht ant Predicate Offence A "predicate offence" is an offence whose proceeds may become the subject of any of the money-laundering offences established under the Convention. Many States already have laws on money-laundering, but there are many variations in the definition of predicate offences theSome States limit the predicate offences to drug trafficking, or to drug trafficking and a few other crimes. Other States have an exhaustive list of predicate offences set forth in their legislation. Still other States define predicate offences generically as including all crimes, or all serious crimes, . or all crimes subject to a defined penalty threshold. . 9 ean k h ent stay ts


  4. Page 11 News: PMLA will need more changes (contd.) Check list FATF recommendations on money laundering set an internation The Enforcement Directorate is empowered al standard which countries should implement through measures to investigate the financial aspects of those crimes as defined under the other penal laws, which are adapted to their circumstances. The recommendations: Identify the risks, and develop policies for international coordination he listed in the PMLA schedule Establish powers and responsibilities for the competent authorities (e.g., investigative, law enforcement and supervisory authorities) o The first FATF mutual evaluation of India was done in 2010 when the body expressed satisfaction with the measures taken by the country. However, in the same breath, the FATF highlighted a number of lacunae in the then extant legislation and suggested changes. Since then, a range of laws have been amended Enhance the transparency and availability of beneficial ownership information of legal persons and arrangements Facilitate international cooperation After analysing PMLA provisions, the FATF recommended that legal measures should be taken to allow for confiscation of the money laundered as subject of the ML (money laundering) offence and which is not contingent on conviction for the predicate offence. .


  5. want to be startin anses hoiag 2 cranted to show the hos ht to Page 12 World News: PM Modi's visit could see pacts on migrants, Avurveda centre at thh Efforts to give new impetus to the Commonwealth and U.K.-India bilateral relations wil get under way, as a Commonwealth business forum kicks off ahead of the Commonwealth Heads of Government Meeting (CHOGM) that Prime Minister Narendra Modi will attend in London. . The Commonwealth Business Forum, which will bring together business leaders and political figures from across the Commonwealth, would explore ways of raising intra-Commonwealth trade from around $525 billion in 2015 to around $700 billion by 2020, alongside looking at some of the contemporary challenges and opportunities around technology, skills, and protectionism. The CHOGM meet is to take place alongside Mr. Modi's bilateral visit to the U.K., in which a range of issues, including immigration, technology cooperation and education, will be in the frame. he e ar k h ent . Diaspora event: Ahead of the CHOGM meeting, Mr. Modi will arrive in the U.K. for the bilateral visit, during which he will hold meetings with U.K. PM, Prince Charles and the Queen, alongside a diaspora event in central London . The two meetings with Mr. Modi held by Ms. May will be seen as part of efforts by Britain to emphasise its eagerness to forge closer ties with India, amid growing scepticism and concern about Britain's ability to secure lucrative post-Brexit trade deals. ts that


  6. want to be startin anses hoiag 2 cranted to show the hos ht at thh A MoU on the return of illegal migrants to India, previously agreed and relating to an issue that Britain has repeatedly raised, will be formally signed. Other agreements include: Setting up of an Ayurveda research centre in the U.K. Other Issues to be raised: Whether any moves will be made to respond to Indian concerns about Britain's immigration regime In what format Britain raises issues around the treatment of religious minorities in India Johal's detention: the detention of Jagtar Singh Johal, a British citizen who remains in custody in India after being arrested last year. re he e ar With an Indian diaspora of around 1.4 million, Mr. Modi's visit will attract much attention. A ent number of rallies, both to protest and support Mr. Modi, are being planned during and ahead of the visit. The protests will include: One by the South Asia Solidarity group over attacks on religious minorities, Dalits and" the media The U.K. Sikh Federation will also hold a protest for Johal's detention Nazir Ahmed, a Member at the House of Lords on the "peaceful resolution" to conflicts in Kashmir, Puniab and other northeastern States Action for Elephants' group: on protecting temple elephants ts that


  7. want to be startin anses hoiag 2 cranted to show the hos ht at th Page 12 World News: U.S. wi impose new sanctions on Russia The U.S. will impose new sanctions on Russia over an alleged chemical attack by the Syrian regime of President Bashar al-Assad, U.S. Ambassador to the UN. an . U.S. Ambassador said: The sanctions, to be announced by Treasury Secretary, would target companies that supplied Damascus with equipment and other material related to chemical weapons. he Russian sanctions will be coming down. He said, "With the political and diplomatic actions that we're taking now, we wanted Syria's. friends Iran and Russia to know that we meant business and that they were going to be feeling the pain from this as well.' ent * U.S. officials have blamed Russia for failing to rein in its Syrian ally, as the guarantor of a, 2013 agreement to dismantle Svria's chemical weapons . That agreement was brokered by Moscow to avert retaliatory U.S. strikes in the wake of a sarin ck in the rebel-held Eastern Ghouta suburbs of Damascus on August 21, 2013 that reportedly killed more than 1,400 civilians. ts that


  8. want to be startin anses hoiag 2 cranted to show the hos ht ant to Page 13 Business News : 'Robust exports can help India grow at 8%, at thh India can achieve more than 8% growth rate in a sustained manner if it takes steps to revive investments and make exports competitive, said an Asian Development Bank (ADB) Economist. In its Asian Development Outlook, 2018, the ADB said it expects India's growth to pick up to 7.3% in current fiscal and accelerate to 7.6% in the next financial year. (ADB) Economist said: Efforts will have to be made to streamline agriculture marketing and improve supply chain. This is the area where there is scope for more reforms. Right now, the investment and exports drivers are really not firing... Once those two engines fire up India can sustainably grow at 8%. India was still a "marginal player" in global trade and there was a lot of potential to increase exports. As Chinese exports are becoming expensive because of rising wages, India can reap u* benefits by improving competitiveness e ar ent - Ease of Doing Business and state of infra need to be improved to get the benefit from trade and be better integrated into the value chain. Lot more reforms would be needed in infrastructure and regulatory policies, if India wants to achieve a double digit growth Credit to infrastructure and industry is picking up, which is a positive sigin ts that


  9. want to be startin anses hoiag 2 cranted to show the hos ht at thh Page 13 Business News: 'NPAs, high debt level to ebb in 6-9 months . It may take at least 3 quarters before the twin balance sheet problem of banks (saddled with NPAs), and highly leveraged corporates, gets resolved: Assocham. Twin balance sheet problem: The stress on balance sheets of banks due to NPAs and heaviy indebted corporates. re he e Assocham said: The process of resolution of the companies under Insolvency and Bankruptcy Code (IBC) reference would gather pace in the coming months. e ar k h ent - It would take another 6-9 months before the banks see revival of confidence to lend afresh as they would then see reasonable amount of their NPAs get unlocked through a resolution. Besides, with sales growth expected to witness a revival, the ability to service debt would improve considerably. Assocham Secretary urged RBI to relax norms proposed on the revised framework for resolution a of stressed assets, claiming that they were harsh both on the banks as also borrowers. ts that


  10. want to be startin anses hoiag 2 cranted to show the hos ht to Page 13 Business News: 'Closing down firms will not help local economy' at thh With the Tamil Nadu Pollution Control Board (TNPCB) rejecting the application of Sterlite Copper seeking renewal of its consent to operate its plant at Thoothukudi, the Vedanta Group unit finds itself facing a fresh challenge. Since its inception several summers ago, the copper smelter project in the port town had witnessed eWhen it is in the midst of a Rs. 2,500-crore expansion plan to double capacity, problems have Some locals and green brigades have mounted a campaign against the expansion on the ground The denial of consent, in the meanwhile, to operate the existing plant by the TNPCB for want of Sterlite Copper CEO said: testing times. re he begun to revisit the unit. that the smelter had been a source of pollution and risk to fisheries more clarifications had further complicated situation for the company e ar k h ent Given the current situation, it will take some time for a dialogue to commence. Sterlite is reaching out to the community on a daily basis. Efforts are to keep the channels of communication open so that a win-win solution can be arrived at for all parties. Sterlite is trying to create more awareness among community through various media. The plant was under regular maintenance, which is a planned activity once in every 3-4 years. ts that


  11. want to be startin anses hoiag 2 cranted to show the hos ht to Page 13 Business News: E-tailers may have to clarifv if they profiteered from GST cut at thh . The National Anti-Profiteering Authority (NAA) in GST w soon reach out to e-commerce companies seeking responses on whether they profiteered from sale of good after reduction in the GST rates. rp If, after investigation, t is found that the e-commerce companies profiteered from the reduction in he GST, they will be asked to identify buyers and refund the tax amount to them. In case, they are unable to identify the buyers, they wil have to deposit the amount in the Consumer Welfare Fund e ar . Till now, FMCG major, HUL had deposited about R120 crore in the fund while last week almost ent 13 crore was deposited by Nestle. * The NAA, whose formation was approved by the Cabinet on November 16, a day after the u government announced sharp reduction in the GST rates on a large number of items of mass consumption, is mandated to ensure that the benefits of the reduction in GST rates on goods or services are passed on to the consumers by way of a reduction in prices. The authority had so far received about 250 complaints from consumers via its website. "Of these some are suo moto cases. We are working towards making consumers aware that they can come to us with complaints," NAA Chairman said ts that


  12. want to be startin anses hoiag 2 cranted to show the hos ht Page 13 Business News: India to ally with China on 'Asian premium' Petroleum Minister Dharmendra Pradhan has said India would coordinate with China and other at thh Asian countries to raise voice against the "Asian premium" being charged by the Organisation of the Petroleum Exporting Countries (OPEC). Petroleum Minister said: re Indian Oil Corporation chairman would coordinate with the head of China National Petroleum Corporation (CNPC) to chalk out the strategy that would result in getting better price from OPEC countries, he said. India, China, Japan and Korea are the primary consumers of the energy market today. Asian premium is the issue India is raising and he had he proposed to coordinate with China and all these consuming countries in a bigger way in the meeting, on the sidelines of International u Energy Forum, with CNPC chairman. "There will be meetings, there will be consensus to put a point of view in front of the OPEC that we must get reasonable and responsible price for our consumption," Mr. Pradhan added. e ar k h ent - ts that


  13. want to be startin anses hoiag 2 cranted to show the hos ht ant to at thh Former RBI Governor Raghuram Rajan highlighted (contd.): . More filers: The direct tax collection numbers put out by the CBDT include mandatory deductions by way of the much-hated TDS. (It accounts for 1/3rd of the collections each year) In FY14, 3.79 crore IT returns were filed by taxpaying entities (this includes individuals, small businesses and companies) Over the next two years to FY16, this number crept up to 4.36 crore. That's a 15% addition over two years. But the latest CBDT data (provisional) tells us that the number of filings zoomed to 6.84 crore by the end of FY18. That's a 57% increase in the last two years (2.48 crore new filings) re he e ar Once a citizen begins to file returns, a contribution to direct tax collections must inevitably follow. Better compliance would eventually provide headroom for the Centre to prune down IT rates. Tax base estimate ent In the latest Budget, the Finance Minister pegged India's current direct tax base at 8.27 crore ui taxpaying entities. The official definition of 'tax base' sweeps in all assessees who have filed their IT returns in the last three years, and adds in those who paid TDS Now, the Indian population featured 25 crore households as per the last Census. If one assumes agricultural households to make up about 40% of that number, (given that agricultural income is exempt from tax) potential tax-paying households (or entities) can be guesstimated at about 15 crore. A tax base of 8.27 crore makes up well over half of this number


  14. want to be startin anses hoiag 2 cranted to show the hos ht Former RBI Governor Raghuram Rajan highlighted (contd.): . Of the estimated population of 132 crore, the working population is estimated at about 40% (52.8- at thh crore). If half of the workforce is assumed to be engaged in agriculture, that's a potential tax base of 26 crore individuals. With individual income tax payers already topping 6 crore, it is clear that a p fourth of those who owe income tax are already paying tax he Detractors will point out that, though India's tax base has grown at a furious pace in the last couple re of years, the CBDT's tax collections haven't kept pace with the number of newbies joining the tax system e ar . But hopefully, as India's income levels improve over the next few years and it transitions into a ent middle-income economy, these new return filers will graduate into the higher tax slabs and cough- up their due share of taxes . This should pave the way for the government to loosen up on its anti-evasion measures and rune its sky-high income tax rates ts that


  15. TAX REVENUE IN THE BACKDROP OF NOMINAL GDP GROWTH Tax revenues have risen despite tax Net collections rose 17.1% in FY18. 2 rates having been stable in the last after a 146% increase in FY17, couple of years, with only minor increases Compared with growth in the previous in surcharge and cess two years, these numbers are healthy (ELAKH CR.) p 200 TAX COLLECTIONS NOMINAL GDP (PERCENTAGE) MORE FILERS SOURCE: CBD 25 IN CR.) GROWTH IN DIRECT TAXES % re he NO OF IT RETURNS FILED SOURCE: CBDT TIME SERIES DATA, PIB PRESS RELEASE, CSO PROVISIONAL/ADVANCE ESTIMATES GROWTH IN NOMINAL GDP % TAX BUOYANCY, TIMES 150 e ar k h 100 15 ...FY14 FY15 FY16 FY17 FY18 . The number of IT returns filed in the two years ended FY16 rose 15%. Growth in filings for the next two years zoomed to 57% 50 10 5 Tax buoyancy has risen in the last two years. A higher buoyancy number signifies highers compliance FYO8 FYO9 FYTO FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 0.5 0.9 0.9 0.9 1.0 1.10.8 0.6 1.3 1.7 ts that


  16. Thank you Jatin Verma 155k Followers Follow Ratings & Reviews Roman Saini A great course by Jatin Verma where he has literally covered all the important news from The Hindu. Must watch. Mohit Rai If i achieve my aim, my first salary will go to this great individual making this great informative and well-researched videos. I should take this opportunity to thanlk and congratulate him for the wonderful work he is doing for all the aspirants. He is meticulous and almost perfect in his approach and understanding. Please keep making such videos as a single 26k Enrollments Enroll