1. GST Revenue collection for April 2022 highest ever at Rs 1.68 lakh crore
Tags: National Economy/Finance Popular Economics/Business
According to the data released by the Union Finance Ministry, the highest level of collection recorded since the implementation of GST in July 2017 rose to Rs 1.68 lakh crore in April.
The gross GST revenue collected in the month of April, 2022 is–
CGST is Rs 33,159 crore
SGST is Rs 41,793 crore
IGST is Rs 81,939 crore (including Rs 36,705 crore collected on import of goods).
Cess is Rs 10,649 crore (including Rs 857 crore collected on import of goods).
Gross GST collection in April 2022 is the highest ever, an increase of Rs 25,000 crore over the previous month's highest collection of Rs 1,42,095 crore.
The revenue for the month of April 2022 is 20% more than the GST revenue in the corresponding month of last year.
During April, revenues from import of goods were 30% higher and the revenues from domestic transactions were 17% higher than the revenues from during the same month last year.
2. LG Baggavalli Somashekar Raju to take over as Vice Chief of Army Staff
Tags: Popular Defence Person in news National News
Lieutenant General Baggavalli Somashekar Raju will take over as the Vice Chief of the Army Staff on 1 may.
An alumnus of Sainik School Bijapur and National Defence Academy, Raju was commissioned into the Jat Regiment on 15 December 1984.
He commanded his battalion during OP Parakram in the Western Theatre and in Jammu and Kashmir.
Raju also has the distinction of commanding the Uri Brigade on the Line of Control, a counter insurgency force and the Chinar Corps in the Kashmir Valley.
Raju has also served as the Commandant of the Indian Military Training Team in Bhutan.
During his illustrious career spanning 38 years, BS Raju has been involved in several important regimental, staff and instructional appointments at Army Headquarters.
Before taking over as the co-chief of the Army, Lt Gen Raju was the Director General Military Operations during the standoff with China on the LAC.
He is also a qualified helicopter pilot. He has flown in the UNOSOM-2 operation in Somalia.
3. Star9 Mobility Private Limited to buy 51 percent of govt share in Pawan Hans Limited
Tags: Popular Economics/Business National News
The Government has approved the highest bid of Star9 Mobility Pvt Ltd for sale of Government's entire 51 per cent stake in Pawan Hans Limited (PHL) and transfer of management control.
PHL is a 51:49 joint venture between the government and ONGC that provides helicopter and aero mobility services.
ONGC earlier decided to offer its entire shareholding to the successful bidder identified in the GoI strategic disinvestment transaction, on the same price and terms as the government.
The reserve price for the sale of 51% stake of PHL was fixed at Rs 199.92 crore based on the valuation done by the transaction advisor and asset valuer.
The alternative mechanism comprises Nitin Gadkari, Road Transport and Highways Minister, Nirmala Sitharaman, Finance Minister and Jyotiraditya Scindia, Civil Aviation Minister.
Pawan Hans Limited has incurred losses in the last three financial years. The company has a fleet of 42 helicopters.
4. Central African Republic adopted the cryptocurrency as legal currency
Tags: Popular International News
The Central African Republic has recognized the world's largest and most popular cryptocurrency, bitcoin as its legal currency.
It became the second country in the world and the first country in the continent of Africa to legalise bitcoin.
In 2021, El Salvador became the first country in the world to legalise bitcoin.
Now people there can pay tax in crypto currency through government recognized platforms.
The Central African Republic is one of six countries in Africa that use the Central African CFA franc.
The Central African CFA franc is a regional currency issued by the Bank of Central African States (BEAC).
About Central African Republic -
The Central African Republic is a landlocked country located in Central Africa.
Despite being rich in diamonds, gold, oil, uranium, the Central African Republic is today counted among the poorest countries.
It became independent from France in 1960.
Capital- Bangui
President- François Bozize
Prime Minister- Faustin-Archange Touadera
5. Anti-ship version of BrahMos missile successfully test-fired
Tags: Popular Defence Science and Technology
An anti-ship version of the BrahMos supersonic cruise missile was successfully test-fired jointly by the Andaman and Nicobar Command and Indian Navy.
The Andaman and Nicobar Command is the only tri-services command of the Indian armed forces.
On 19 April, the Indian Air Force (IAF) successfully test-fired a BrahMos missile from a Sukhoi fighter jet on the eastern seaboard.
In march 2022, the Indian Navy successfully test-fired an improved version of the BrahMos missile from a stealth destroyer in the Indian Ocean.
About BrahMos-
It is a joint venture between the Defence Research and Development Organisation (DRDO) of India and Russia’s NPOM.
Brahmos is named after the Brahmaputra and Moskva rivers.
Brahmos produces supersonic cruise missiles that can be launched from submarines, ships, aircraft, or land platforms.
BrahMos missile flies at a speed of almost three times the speed of sound or 2.8 Mach.
The range of the advanced version of the missile is learnt to have been extended to around 350 km from the original 290 km.
6. Russia Withdraws From UN World Tourism Organisation
Tags: Popular International News
The Secretary-General of the United Nations World Tourism Organisation Zurab Pololikashvili announced that Russia has decided to withdraw from the UNWTO.
The UNWTO announced earlier in March that it wanted to suspend Russia over the Russia-Ukraine conflict.
The UNWTO had previously described the Russian invasion of Ukraine as inconsistent with the United Nations Charter and against the fundamental purpose of the UNWTO.
Russia has decided to withdraw from the organisation even before the United Nations World Tourism Organisation's vote in the UN on 27 April 2022.
This is the first time the UNWTO has met to discuss the suspension of one of its member states.
About United Nations World Tourism Organisation (UNWTO) -
Formation- 1 November 1975
Headquarters- Madrid, Spain
Secretary General- Zurab Pololikashvili
Member Countries- 160
So far, 17 member states have withdrawn from the organisation at various times.
UNWTO is a United Nations organisation that promotes tourism to promote economic growth, environmental sustainability and inclusive growth.
7. Global Patidar Business Summit (GPBS) - 2022
Tags: National Popular Summits
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Prime Minister Narendra Modi inaugurated the Global Patidar Business Summit (GPBS) in Surat, Gujarat on 29 april via video conferencing.
Sardardham is organising GPBS under Mission-2026 to accelerate the socio-economic development of the Patidar community.
The summit is held every two years. The first two summits were held in Gandhinagar in 2020 and 2018 and the current summit is now being held in Surat.
The main theme of GPBS-2022 - Atma Nirbhar Community to Atma Nirbhar Gujarat and India.
Aims of the Summit -
to bring together small, medium and large enterprises within the community.
nurture and support new entrepreneurs
provide training and employment assistance to the educated youth.
Who are the Patidars?
The Patidars or Patels claim themselves to be descendants of Lord Rama.
They are divided into two main sub-castes: Leuva Patels and Kadva Patels
The Patidars are spread throughout Gujarat, except in the eastern tribal belt, with high concentrations in northern Gujarat and Saurashtra.
‘Patidar’ means one who owns a strip of land.
Post independence, tenants got land ownership rights, and thus Patidars became lords of large swathes of prime agricultural land.
In mediaeval society, they were placed better in the caste hierarchy.
Patidars represent 12.3% of the population of Gujarat.
8. MSME Ministry launches MSME Sustainable Certification Scheme (ZED)
Tags: Government Schemes Popular National News
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Union Minister for Micro, Small, and Medium Enterprises Narayan Rane launched the MSME Sustainable (ZED) Certification Scheme.
The scheme is a comprehensive campaign to motivate and encourage MSMEs for ZED certification by adopting Zero Defect Zero Impact (ZED) practices and encouraging them to become MSME champions.
ZED has the potential to become a national movement and aims to provide a roadmap for global competitiveness for India's MSMEs.
Not only will ZED strive to improve productivity and performance, but it has the potential to change the mindset of manufacturers and make them more environmentally conscious.
Through this scheme MSMEs can reduce wastage to a great extent, increase productivity, environmental awareness, save energy, make optimum use of natural resources and expand their markets.
Subsidy Under the Scheme
Under the Scheme, MSMEs will get subsidy as per the following structure, on the cost of ZED certification:
1. Micro Enterprises: 80%
2. Small Enterprises: 60%
3. Medium Enterprises: 50%
Additional subsidy
There will be an additional 10% subsidy for MSMEs owned by women/SC/ST entrepreneurs in NER/Himalayan/LWE/Island areas/Aspirational Districts.
In addition to above, there will be an additional subsidy of 5% for MSMEs which are also a part of the SFURTI OR Micro & Small Enterprises - Cluster Development Programme (MSE-CDP) of the Ministry.
Further, a limited purpose joining reward of Rs 10,000/- will be offered to each MSME once they take the ZED Pledge
Role of Ministry of MSME
It works to promote, develop and support MSMEs in all regions and states.
The Ministry runs more than 20 different schemes such as PMEGP, SFUTI, MSE-CDP, RAMP Scheme, ATI, Udyam Registration, etc.
These schemes offer support and strength in the areas of access to finance, market linkages, technology upgradation, capacity building, innovation/ideation and industrial infrastructure development etc.
9. Release of over Rs 2 lakh cr as GST compensation to States for FY 2020-21
Tags: National Economy/Finance Popular
The Finance Ministry has said that an amount of Rs 2 lakh 78 thousand crore has been released to the states as GST compensation for the financial year 2020-21.
The ministry has so far released 7 lakh 35 thousand crore rupees to the States including the assistance released on back-to-back basis.
Presently only Rs 78 thousand 704 crore compensation for the year 2021-22 is pending due to insufficient amount in the fund, which is equivalent to four months' compensation.
Normally, compensation for ten months of April to January of any financial year is released during that year and the compensation of February and March is released only in the next financial year.
The GST compensation for eight out of the ten months of 2021-22 has already been released to the states and the pending amount will also be released after the cess amount is deposited in the Compensation Fund.
At the time of the introduction of the Goods and Services Tax, GST, a constitutional amendment provided that Parliament would, by law, provide compensation to the States for the loss of revenue due to the introduction of the GST, for a period of five years.
10. SC fixes final hearing on Sedition Law
Tags: Popular National News
Supreme Court to give final hearing on May 5 on petitions challenging the constitutional validity of the offence of sedition under Section 124A of IPC.
A three-member bench of CJI NV Ramana has fixed May 5 for hearing all the petitions related to this case together.
Attorney General K.K. Venugopal is assisting the court in the case in the capacity of his constitutional office.
The CJI had said sedition or Section 124A of the Indian Penal Code was prone to misuse by the government.
Sedition Law
Section 124A of the Indian Penal Code provides for the punishment of sedition.
The Indian Penal Code (IPC) was enacted in 1860 during the British Raj.
The then British government in India feared that religious preachers from the Indian subcontinent would wage war against the government.
Throughout the British Raj, this section was used to suppress activists in favour of national independence, including Tilak and Mahatma Gandhi, both found guilty and imprisoned.
In 1973, sedition was made a cognizable offence for the first time in India during the tenure of Prime Minister Indira Gandhi.
A cognizable offence means arrest without a warrant.
Constitutional validity
After independence, it was found unconstitutional by two high courts, as it violates freedom of expression.
The Supreme Court upheld its validity in Kedar Nath Singh v State of Bihar (1962).
