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19th June 2018 Part-5: Daily News Analysis
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Definition of Relatives

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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Kusum Saini
a year ago
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Kusum Saini
a year ago
yes usi app p hogi
sir u say columbia analytica but it is Cambridge analytica..n u repeated it many tyms..😊
chilika lake: daya river. rushikuliya river: Its tributaries are the Baghua, the Dhanei, the Badanadi etc. It has no delta as such at its mouth. Gahirmatha beach:The beach separates the Bhitarkanika mangroves from the Bay of Bengal. Area between Batighar to Maipura mouth.
Sir, what if the honest taxpayers are granted some kind of discount in prices of the compulsory products such as petrol diesel etc?
try to reduce timing yar... agr itna time spend hi krna hota to Direct newspaper padh lete bhai
  1. want teo he starting Page 11 News: India, Italy agree to revitalise bilateral ties. IGSM -2: International Relations] at thh India and Italy agreed to boost cooperation in counter-terrorism and cybersecurity as External Affairs Minister met the top Italian leadership and discussed steps to revitalise bilateral ties In the engagement of the day External Affairs Minister called on Italian Prime Minister and their discussions were focussed on forging bilateral cooperation across sectors. I as the first major political exchange between the two countries. External Affairs Minister "conveyed felicitations of the Government of India to the newly elected Government of Italy, and reiterated India's desire to strengthen bilateral relations with Italy. Both the countries exchanged their views on regional and global issues of mutual interest. Recognising the need to sustain the momentum generated by the visit of former Italian Prime Minister, the Ministers emphasised the importance of promoting regular high-level contacts and bilateral dialogue mechanisms. he . e ar k h ent JCEC meet in India To augment collaboration in areas of mutual benefit, the Ministers agreed to hold the next meeting of the Joint Commission for Economic Cooperation (JCEC) in India. Italy's participation is welcomed as a partner country at the Tech Summit in India in November 2018 which would boost cooperation in technology and innovation. The year also marks the 70th year of establishment of diplomatic relations between the two countries tis

  2. want teo he starting Page 12 World: Exclusion of Indian students from visa reform amounts to self-harm' at thh Britain's decision to exclude India from reform of its international student visa application process has been widely condemned in Britain, including by the Labour Party. It an "act of self-harm" that threatened to push even more Indian students away from British universities The Home Office decision to exclude Indian students from the new immigration rules was a missed opportunity. There is a sharp decline in Indian student numbers from 60,322 in September 2010 to 14,081 in 2017. This was a period during which the number of Indian students studying in America and Canada rose re he e ar k h ent India Week' summit . The controversy comes ahead of an 'India Week' summit, which senior politicians from both countries as well as industry figures are expected to attend . The summit is expected to focus on post-Brexit opportunities to build the bilateral relationship as Britain prepares to leave the EU customs union British Home Secretary announced that doctors and nurses would no longer be included in an annual cap on Tier 2 (general) visas, in what was seen as a positive move for bilateral relations, as many Indian doctors had been previously caught up in visa restrictions. tis

  3. want teo he starting Page 12 World: Exclusion of Indian students from visa reform amounts to self-harm (contd. India Week' summit * Relaxation was formally presented to Parliament, the government also announced the extension of a at thh programme under which students from certain countries could provide reduced documentation when applying for Tier 4 student visas. The list of countries included China, Bahrain, Indonesia, and the Maldives, but not India re There are some parts of government that want to be outward looking in the Brexit process and there is the Home Office that is discharged with ensuring a restrictive visa regime. he. e ar k h ent tis that

  4. want teo he starting Page 12 World: Trump defends polic U.S. President said that he would not allow the U.S. to become a "migrant camp" .The U.S. will not be a migrant camp, and it will not be a refugee holding facility. Earlier U.S. President said that people should be wary of what he called the cultural change caused by migrants in Europe. He cited immigration for causing political instability in Germany and said inaccurately that crime in Germany was "way up". "Big mistake made all over Europe in allowing hemillions of people in who have so strongly and violently changed their culture" e ar k h that

  5. want teo he starting Page 13 Business: Jaitlev against cut in tax on fuels . Reducing taxes on fuel could push India towards "unmanageable debt" at thh Increased tax compliance could reduce the country's dependence on the revenue earned from taxes on fuel Alluding to former Finance Minister's remark that the government can reduce the tax on petrol by 25 a litre, FM said this was a "trap." heAnother distinguished predecessor of mine had stated that the tax on oil should be cut by 25 per litre. This is a 'trap' suggestion. It is intended to push India into an unmanageable debt. The economy and the markets reward structural reforms, fiscal prudence and macro-economic e ar k h ent stability. Tax compliance is still a problem in India, Mr. Jaitley added, saying better compliance would reduce the dependence on tax collections from petroleum products. The tragedy of the honest taxpayer is that he not only pays his own share of taxes but also has to our compensate for the evader," FM said FM's earnest appeal to political leaders and opinion makers is that the full and complete suggestion would be that evasion in the non-oil tax category must be stopped and, if people pay their taxes honestly, the high dependence on oil products for taxation eventually comes down tis that

  6. want teo he starting Page 13 Business: Jaitlev against cut in tax on fuels (contd. States earn more' FM also pointed out that States charged ad valorem taxes on oil, and so, if oil prices rise, the States at th earned more As far as the non-oil taxes are concerned, we are still far from being a tax-complaint society. Salaried employees is one category of tax-compliant assessees. Most other sections still have to he improve their track record. The effort for the next few years has to be to replicate the last four years and improve India's tax-to- GDP ratio by another 1.5% The increase must come from the non-oil segment since there is scope for improvement. On employment, FM said several job-creating sectors such as construction, infrastructure and rural projects had started growing strongly. An analysis of the data released clearly shows that the construction sector is expanding by double our digits. e ar k h ent . It is a job-creating sector. Investment is increasing. Domestic investment is also increasing. The FDI is at an unprecedented level. We are spending huge amounts on infrastructure creation. tis that

  7. want teo he starting Page 13 Business: Govt. to set up fifth national data centre . The Centre will set up the country's biggest data centre in Bhopal with a capacity to host five lakh at thh virtual servers The data centre, which will take about two years to come up, will be set up by the National Informatics Centre (NIC), under the Ministry of Electronics and Information Technology (MetY) . rEThis will be the fifth National Data Centre after the ones at Bhubaneswar, Delhi, Hyderabad and ePne. These National Data Centres host government websites, services and applications. India's digital ecosystem has got a momentum of its own and this process is going to be irreversible. As far as data privacy is concerned, the data must be protected, and India should become a good centre of data analysis. Any attempt to influence India's elections in a covert or overt manner by abuse of data will not be tolerated. People can campaign on social networking sites, but misuse and abuse of data is not acceptable e ar k h ent .The government planned to expand its BPO promotion scheme to one lakh seats from the "current 48,000 seats." stay .Under the initiative, which had an outlay of 493 crore, 91 BPOs had been set up in small towns and rural areas till novw tis

  8. want teo he starting LT Page 13 Business: Govt. to set up fifth national data centre (contd.) 121 cr. Aadhaar issued .On Aadhaar, the Minister said that while only 61 crore Aadhaar numbers had been generated up to at thh 2014. The numbers had jumped to more than 121 crore as on June 2018. Asked about the government's action plan in case the Supreme Court's decision was not in favour . e of Aadhaar, the Minister said, he.The question is hypothetical, the judgment [in the case] is reserved but I believe our Aadhaar team lawyers have argued it with proof, and Aadhaar has already established its benefits for the public e ar k h ent tis that

  9. Page 13 Business: RBI alters 'relative' definition to check outward remittances .Concerned over funds sent abroad under the 'maintenance of close relative' category of the Liberalised Remittance Scheme (LRS), the Reserve Bank of India (RBI) has narrowed the definition of relatives to check the flow of funds. Hence, funds under the 'maintenance of close relative' category can be sent only to relatives such as parents, spouses, children and their spouses. This has brought about by defining immediate . r'relatives' under the Companies Act, 2013 instead of the same act of 1956. .In the context of remittances allowed under LRS for maintenance of close relatives, it has been la decided to align the definition of relative' with the definition given in Companies Act, 2013 instead of Companies Act, 1956. .Outward remittances under maintenance of close relatives shot up to almost $3 billion in 2017-18 from a mere S174 million in 2013-14. In fact, funds sent under this category have more than doubled since 2015-16 Overall outward remittances under LRS went up to S11 billion from $1 billion in the same period. It may not be the case that the central bank is suspecting money laundering," said chief economist, Care Ratings, when asked on the possible reason for the change. . Commercial purpose' .It is possible that the facility [maintenance of relatives] under the Liberalised Remittances Scheme is used for commercial purposes which is not its objective. That may have prompted the regulator to narrow the definition of relatives.

  10. want teo he starting Page 13 Business: RBI alters 'relative' definition to check outward remittances at thh RBI has introduced a system for daily reporting of individual transactions under the LRS by banks Relatively stricter Funds under the 'close relatives' category can now be sent only to kin such as parents, spouses, children and their spouses. Earlier, the term had multifarious interpretations This enables banks to view he remittances already made by an Outward Maintenance of remittances* close relatives Year individual during the fiscal, thus improving monitoring and FY14 e ar k h ent ensuring compliance. Since the system uses the Permanent Account Number of the remitter to aggregate remitter-wise data, the central bank has made furnishing of PAN mandatory for such transactions 1,093.9 FY151,325.8 FY164,642.6 FY17 8,170.7 FY18 11,333.6 173.9 174.4 1,372.1 2,169.5 2,937.4 ind stay All figures in Smillion Source: RB * Under LRS that

  11. want teo he starting Page 13 Business: GSTN lacuna hits refunds to exporters . West Bengal Finance Minister said that exporters were awaiting refunds to the tune of R25,000 crore, which have been stuck due to the "inability" of the GST Network (GSTN) There have been three lakh applications from exporters of the country, involving which are awaiting refund:s 25,000 crore, re The GSTN auto-verifies refund claims, but it is unable to do so, and therefore, manual verification heis relied upon that leads to huge pile-up of applications and impacts working capital of the exporters, the Minister said. e ar k h ent tis that

  12. LT want teo he starting at thh he e ar k h that en thec