PM Modi launched platform for Transparent Taxation ‘Honoring the Honest’ through video conferencing
Prime Minister Narendra Modi launched the platform for Transparent Taxation – Honoring the Honest through video conferencing today.
This platform will further carry forward the journey of direct tax reforms. The Central Board of Direct Taxes, CBDT has carried out several major tax reforms in direct taxes in recent years.
Last year, the Corporate Tax rates were reduced from 30 per cent to 22 per cent and for new manufacturing units the rates were reduced to 15 per cent. Dividend distribution Tax was also abolished.
About Central Board of Direct Taxes:
Chairman – Pramod Chandra Mody.
Union Minister Nitin Gadkari Addresses ‘India@75 Summit: Mission 2022’ for upliftment of MSME
The Union Minister for Road Transport and Highways Nitin Gadkari addressed the ‘India@75 Summit: Mission 2022’ on 8 August in New Delhi, via video-conferencing.
The event was organised by the Confederation of Indian Industries (CII) to look towards improving presence of MSME industry in the 115 identified aspirational districts of the country.
President– Uday Kotak
Vice President– Sanjiv Bajaj
Headquarters– New Delhi
Atal Innovation Mission in association with Dell Technologies launched the 2nd Edition of Student Entrepreneurship Program
NITI Aayog’s Atal Innovation Mission in collaboration with Dell Technologies has launched the 2nd edition of Student Entrepreneurship Program (SEP 2.0) for young innovators of Atal Tinkering Labs (ATLs).
- Under the program the student volunteers will receive mentor support, prototyping and testing support; end-user feedback; intellectual property registration and patenting of ideas, processes, and products; manufacturing support; as well as the launch support of the product in the market.
About Atal Innovation Mission:
Mission Director– Ramanan Ramanathan
Headquarters – New Delhi
Andhra Pradesh Gov’t launches YSR Cheyutha Scheme to benefit rural economy
Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on August 12 launched ‘YSR CheyuthaScheme 2020’. The newly launched scheme aims at making women self-reliant by promoting entrepreneurship in them.
The initiative is intended to guide the rural economy of the state amid the setbacks due to ongoing COVID-19 pandemic.
Andhra Pradesh state government has already allocated Rs. 4,500 crore for the scheme, in addition, the state government also plans on launching YSR Asara Scheme.
About Andhra Pradesh:
Chief minister: Y. S. Jaganmohan Reddy
Assam govt to roll out Arunodoi scheme to provide financial assistance to around 17 lakh families
The Assam government is all set to roll out Arunodoi scheme in the state from 2nd of October, With an aim to provide financial assistance to around 17 lakh families.
- Finance minister Himanta Biswa Sarma said that under this scheme an amount of 830 rupees will be given to eligible families per month to buy essential food items. He said, this will be the largest Direct Benefit Transfer scheme in Assam.
Capital – Dispur
Chief Minister – Sarbananda Sonowal
Alexander Lukashenko wins sixth consecutive Belarus Presidential Election
Incumbent Belarus President Alexander Lukashenko has been re-elected for the sixth time in the Presidential Election of Belarus.
- He won the elections by 80% of all votes in his favour
- He is serving as the President of Belarus since 20 July 1994, when the office of President was established in Belarus.
Capital – Minsk
Currency – Belarusian Ruble
BSE partners with Akola-based bullion associations
A Memorandum of Understanding (MoU) has been signed by the Bombay Stock Exchange with Akola, Maharashtra-based bullion trade and industry associations namely Akola Sarafa Association and Akola Sarafa Va Suvarnakar Yuva Sangh.
- The partnership will seek to enhance cooperation between the BSE and physical markets represented by the two trade bodies in various areas like knowledge sharing, education and training, events as well as explore areas of mutual interests.
- The Bombay Stock Exchange (BSE) will conduct various activities such as seminars and awareness programmes on price-risk management for bullion traders and jewelers.
Reliance Foundation partnered with USAID to Launch the W-GDP WomenConnect Challenge Across India
Under the Women’s Global Development and Prosperity (W-GDP) Initiative, US Agency for International Development (USAID) and Reliance Foundation have partnered to bridge the gender digital divide in India.
- Through the partnership they will launch the W-GDP Women Connect Challenge(WCC) across India in 2020.
Headquarters- Washington, D.C., US
Acting Administrator– John Barsa
RBI announces ‘positive pay’ feature to help avert cheque frauds
The Reserve Bank of India (RBI) has announced to introduce a mechanism of ‘Positive Pay’ feature for all cheques of value Rs 50,000 and above. This feature helps to avert cheque frauds. The limit of Rs 50,000 will cover approximately 20 per cent of transactions by volume and 80 per cent by value.
- Positive pay is a fraud-prevention system offered by most commercial banks to companies to protect them against forged, altered and counterfeit checks.
Governor: Shaktikanta Das
Founded: 1 April 1935, Kolkata.
Awards & Recognitions
Mukesh Ambani becomes fourth richest person on Earth
Mukesh Ambani has surged past Europe’s wealthiest man, making him the world’s fourth-richest person.
- Reliance Industries Ltd’s chairman is now worth $80.6 billion, after amassing $22 billion this year, according to the Bloomberg Billionaires Index.
Mr Ambani was behind Amazon founder and CEO Jeff Bezos (net worth $187 billion), Microsoft co-founder Bill Gates ($121 billion) and Facebook co-founder and CEO Mark Zuckerberg ($102 billion).
Akshay Kumar the only Indian in Forbes 2020 list of 10 highest paid male actors
Akshay Kumar is the only Indian to feature in the Forbes 2020 list of 10 Highest Paid Male Actors in the world.
- With an estimated earning of $48.5 million, Akshay ranks at number six on the list, though his rank has dropped two notches from last year. He held the fourth spot in the 2019 list.
- This year, Hollywood star Dwayne Johnson has topped the list for the second year in a row with $87.5 million. “Deadpool” star Ryan Reynolds came in second with an estimated earning of $71.5 million.
Pramod Bhasin becomes new Chairman of ICRIER
Pramod Bhasin has been appointed as a new Chairman of Indian Council for Research on International Economic Relations (ICRIER). He is currently the vice-chair of the board of governors at ICRIER.
- He will replace Isher Judge Ahluwalia, who has stepped down due to health reasons. Isher had been in this position for 15 years.
Director & Chief Executive: Dr Rajat Kathuria.
Headquarters: New Delhi.
Science & Technology
Skyroot Aerospace tests upper stage rocket engine “Raman”
Skyroot Aerospace, a Spacetech startup has successfully test fired an upper stage rocket engine “Raman”.
- With this, Skyroot Aerospace has become the first Indian private firm to exhibit the potential to build a homegrown rocket engine.
- “Raman” is a 3-D printed rocket engine which has been named after Nobel laureate CV Raman.
Renowned Urdu Poet Rahat Indori passes away at 70
Urdu Poet & Lyricist, Rahat Indori who was being treated for COVID-19 died of Heart Attack at Aurobindo Hospital, Indore.
- He was born as Rahat Qureshi on 1 January, 1950 in Indore. He taught Urdu literature at Devi Ahilya University, and was awarded PhD from Bhoj University in Madhya Pradesh for his thesis titled ‘Urdu Main Mushaira’.