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DAILY NEWS ANALYSIS from THE HINDU 29th September 2017 By Jatin Verma Educator Unacademy
Page-I l: Centre to review flexi-fares on select trains, says Goyal. The Union government will review the flexi-fare system introduced in premium trains last year. The Railways introduced the flexi-fare scheme in September 2016 in Rajdhani, Duronto and Shatabdi trains, under which 10% of the seats were sold at normal fare. The fare was increased thereafter by 10% for every 10% of the berths sold. The highest fare was 50% more than the normal price of the ticket. Besides, The Railways are also in discussions with the Indian Space Research Organisation to use GPS technology to monitor trains for punctuality vThe government was not considering any hike in the rail fares at present. The Railways had delayed the release of its timetable by a month to November I to redraft it focussing on speed and efficiency.
Page-12 World News: Japan to hold snap elections on Oct. 22. Japanese Prime Minister Shinzo Abe called a snap election, as fresh opinion polls showed a fledgling conservative party led by popular Tokyo Governor Yuriko Koike was gaining momentum ahead of the expected October 22 vote. Mr.Abe, a conservative who returned to power in 2012, is hoping a boost in his voter support in recent months will help his Liberal Democratic Party-led (LDP) coalition maintain a simple majority. It currently holds a two-thirds "super" majority. Koike's new Party of Hope only formally launched on Wednesdayhas upended the election outlook after the former LDP member announced she would lead the group herself "This will be a tough battle, but it's all about how we will protect Japan and the lives and peaceful existence of the Japanese people," Mr.Abe told a group of lawmakers. The cabinet will formally decide the date of the poll later. . A number of opposition lawmakers boycotted a session at which the lower house was dissolved to protest Mr.Abe's calling the election and creating a potential political vacuum at a time when tensions are high with North Korea.
Business Page13:FMurgesCPSEsto spend aggressively Finance Minister Arun Jaitley asked central public sector enterprises (CPSEs) to aggressively push capital expenditure and warned against any slackness as the government looks to boost growth through increased public spending. While reviewing the capital expenditure plans of important CPSEs, e the minister also asked them to give"liberal dividends" to the government so that the money could be used for funding physical-social infrastructure The meeting took place against the backdrop subdued private investments and sagging growth, which slowed to a three-year low of 5.7% in the first quarter of the current fiscal. Heads of major CPSEs in sectors like petroleum, defence, power, road transport, railways, coal, mines, steel and atomic energy have assured the government of raising capital expenditure by an additional 325,000 crore. It also came to attention that most public sector undertakings have very low or no debt on their balance sheet which is reflected in their low debt to equity ratios.
'Pay liberal dividends' CPSEs were asked to raise more debt and not to rely entirely on cash and free reserves for finding new investments and capital expenditure. The CPSEs which have free reserves and surplus cash "were asked to consider declaring liberal dividends" so as to promote more productive use of such resources for financing much needed physical and social infrastructure, the finance ministry's statement said. The CPSEs were also asked to release outstanding payments expeditiously to help improve the liquidity in the market, besides raising more resources through innovative financing arrangements like InvlTs, and monetisation of assets. Since private investment is low, public spending along with investment from CPSEs is expected to drive economic activities and help perk up growth. . It also came to attention that most public sector undertakings have very low or no debt on their balance sheet which is reflected in their low debt to equity ratios.
Business Page 13:'Banks may risk losing 33,800 cr.from cards'. SBl Research said in a report that the Centre's digital payments push, mainly card payments through PoS machines, may leave already capital starved banks bleeding by Rs. 3,800 crore annually After November's note-ban, the government has pushed banks into deploying millions of point-of- sale (PoS) machines to encourage online payments. This has resulted in increase in debit plus credit cards transactions at PoS from Rs. 51,900 crore in October 2016 to Rs. 68,500 crore in July 2017 It is estimated that for OFF-US transactions, the aggregate annual loss for card transactions at PoS terminals is around Rs. 4,700 crore. However the net revenue gain per annum from ON-US transactions at PoS would be around Rs. 900 crore only Therefore.the toil sntos srund Rt. 380 erore
Page 13 Business: Centre pegs second-half borrowing at 2.08 lakh cr. Economic Affairs Secretary said that the government plans to borrow 2.08 lakh crore from the market in the second half of 2017-18, reiterating its commitment to meet the fiscal deficit target of 32% cent of GDP To finance the fiscal deficit for the current financial year, the Budget has pegged gross borrowing at 5.8 lakh crore and net borrowing at-4.25 lakh crore. . The government borrowed 72 lakh crore in the first half [April to June and has pegged gross borrowings at 32.08 lakh crore in the remaining six months of the financial year ending March 31. The net borrowings in the October-March period of the year has been pegged at 1.92 lakh crore. Amid talks of stimulus package to boost sagging economic growth, Secretary said deficit targets are set in the Budget and the finance ministry will stick to them as of now. . He further said that the assessment of additional borrowing requirement, if any, would be made in December. He added however that there seems to be no need for additional borrowing Central Public Sector Enterprises, capital expenditure of more than 3.75 lakh crore was moving as per the plan.
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. Business Page 13: . The Centre is considering a proposal from the industry to allow small firms to file quarterly returns even as they pay taxes on a monthly basis under the Goods and Services Tax (GST) regime This follows the troubles these small firms are having regarding complying with the GST norms due to their limitations in getting: i] professional help, [i]lack of connectivity and [ii]technological glitches. Discussions were on regarding the threshold limit for small firms who could be granted such a relaxation . CIl said in a statement that: il filing of GST return may be made on a quarterly basis, as against the current monthly filing requirement as the MSME sector is still not weil equipped with the IT infrastructure and a qualified manpower.This small measure will help bring them into the GST mainstream. [i] Merchant exporters account for over 30% of country's exports who usually work on razor thin margins of 24% The imposition of GST has made their costing go haywire, particularly for products having higher GST rate, as they have to pay GST and seek refund after some time lag.
iii] Reverse charge mechanism: Under RCM, threshold exemption for payment of tax may be increased from the present 5,000 to 50,000 which shall help ease burden of excessive compliances especially for the MSME players. [iv] For ease of doing business especially for the MSME, provisional input tax credit period may be extended to 6 months from the current 2 months' period [iv]Format of returns may also be simplified and only basic core details may be required to be furnished.
181%. 11:56 ?..d 81 % 11:57 Jatin Verma 155k Followers Follow Daily Current Affairs MCQs for August 2017 Ratings & Reviews 421 Ratings WhatsApp Roman Saini Facebook A great course by Jatin Verma where he has literally covered all the important news from The Hindu. Must watch. Copy to Clipboard Mohit Rai More 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 thank 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 Targeted For All G.K. based Government Exams Objective This is a daily recurring course on important 26k Enrollments 5.4k Enrollments