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Press Trust of India
New Delhi, Nov 28: A day after Prime Minister Narendra Modi reached out to the Congress leadership, the government Saturday expressed hope that the GST Bill will be passed in Parliament and implemented soon. “On the GST… We are hopeful, we remain hopeful,” Minister of State for Finance Jayant Sinha said while addressing the annual session of PHD Chamber of Commerce. Hopefully, the GST will be implemented soon, he added.
Talking about India’s fiscal architecture, Sinha said, “When the GST is implemented, it will be the most revolutionary transformation of taxes in India since independence. That’s how a big game changer it is”. Modi had invited former Prime Minister Manmohan Singh and Congress President Sonia Gandhi for a tea at his residence Friday where the discussions covered legislations pending before Parliament, particularly the Goods and Services Tax (GST) Constitution Amendment Bill. The government needs Parliament approval for the GST Bill in the ongoing Winter Session to roll out the new indirect tax regime, as planned, from April 1, 2016.
Sinha further said the government is trying to reform the tax system to make it more simple and predictable and a step towards that direction is bringing down corporate tax rate to 25 per cent from the present 30 per cent by phasing out exemptions. “A part of the reason to get rid of the exemption on corporate tax side is that we want to reduce litigation. So that, we don’t have to follow the adversarial rent-seeking tax exercise. So, all our efforts are towards that end,” he said. Sinha said the Finance ministry has already heard views of the pharma and auto sectors on the roadmap for phasing out exemptions and invited industry leaders to seek their views on the same.
“Those proposals have already been put up, please comment on them, tell us what you think. Many of you are going to be very upset because these exemptions are going to go… But it is a big change,” he said. Sinha said the measures such as a 10 per cent increase in state’s share in Union taxes to 42 per cent, implementation of the GST and reduction in corporate tax rate will be a “radical change to India’s fiscal architecture”. Sinha further said the industrial production capacity needs to be increased to sustain faster growth over a period of time and for that India needs to create jobs. “We need to grow at 8-9 per cent for decades if we are going to create jobs for young people… And to achieve fast growth to take the $2 trillion economy right now to a $4, 5 or 10 trillion economy, we need to be able to sustain growth over a long period of time.
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Post News Network
Cuttack, Nov 28: Riding on a brace by Nigerian import H Murphy, Independent Club registered an emphatic 3-0 victory over SBI in a match of the FAO First Division football league at the Barabati Stadium here Saturday.
Independent started aggressively and scored two goals in the first half itself. Murphy opened the account in the 33rd minute. He went on to double the lead in the 40th minute.
After the breather, Independent maintained their momentum and added another goal through Ramesh Chandra Murmu in the 74th minute to ensure an emphatic victory over their rivals.
In another match, SAI-STC got walk over as their opponent Kishore Club did not turn up.
Rising Star Club vs Rising Student Club; Radha Gobinda Club vs Chand Club
Orissa face Jharkhand
Orissa entered the final of the National School Games Football Championships after scraping past Maharashtra 4-3 in their semifinal game at Andaman, Saturday. They will meet Jharkhand in the final Sunday.
In the keenly-contested semifinal, Sumanpranjya Mohapatra maintained her fine form to score a brace. Barsa Nayak also struck twice to take her side into the final of the tournament.
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Press Trust of India
New Delhi, Nov 28: The government Saturday said it has advanced the date for implementation of the roll out of Bharat Stage (BS) stage V and VI norms for four-wheelers by 3 years. “Ministry of Road Transport & Highways has issued a draft notification for implementation of BS-V and BS-VI norms for the automobile sector, covering four wheeler category. The ministry has decided to advance date for implementation of the higher level emission standards,” an official statement said. According to the roadmap earlier laid down by the Auto Fuel Policy, BS–V norms were to implemented from April 1, 2022 and BS-VI from April 1, 2024, it added.
“However the Minister of Road Transport & Highways is keen that the road transport sector should take a lead role in reducing the harmful effects of emissions on environment and climate change,” the statement said. Accordingly, the ministry has decided to implement BS–V norms from April 1, 2019. BS-VI norms, which aim at substantial reduction in NOx/4C levels will be implemented from April 1, 2021, it added. This reflects a firm commitment to play a major role in reducing vehicular emissions. Draft norms for two- and three-wheeler categories will be notified shortly with advanced timeline similar to the four wheeler category, it added.
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Post News Network
Bhubaneswar, Nov 28: Chief Minister Naveen Patnaik Saturday strictly instructed project directors of the district rural development agencies (DRDA) and block development officers (BDO) to ensure 100 per cent utilisation of the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) funds.
“It is a matter of great concern that in this financial year many districts with potential are lagging behind in MGNREGS. I would like the officers of these districts to put in their best efforts to improve their performance. The targets, in terms of person days and expenditure, will have to be achieved without fail. Underachievement will not be tolerated,” CM told the officers while addressing a conference here.
In Orissa, on an average 17 lakh rural households seek employment under MGNREGS annually. In the last couple of years, MGNREGS has contributed to increased rural wages and empowerment of the marginalised sections across the state, he said.
The state government would institute awards for three districts performing the best in MGNREGS implementation with financial incentives, the CM announced.
“The state government is committed to provide pucca houses to all households having kucha houses within four years. All rural households should be sensitised about this commitment,” Patnaik told the officials.
The CM said this year’s target for completion of Biju Pucca Ghar Yojana (BPGY) houses is seven lakh and that about four lakh houses have already been constructed so far. He asked the officers to ensure completion of at least 75,000 houses per month during the next four months.
Patnaik further added that the PDs and the BDOs should ensure that each beneficiary, after completion of the houses, should be awarded with an incentive in the next four to six months as per the guidelines. He emphasised proper utilisation of the Fourteenth Finance Commission and fourth State Finance Commission grants to convert all gram panchayats into model gram panchayats.
During the inaugural session of the two-day conference, the CM launched ‘Ama Gaon Ama Yojana,’ a new initiative on development of gram panchayats, and released the revised guidelines of BPGY. He also presented awards to the best performing districts and blocks.
Panchayati Raj minister Arun Kumar Sahoo, department secretary DK Singh and other senior officials of the department were present at the conference.
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