1. CBDT unveils single ITR form for all taxpayers
Tags: Economy/Finance National News
The Central Board of Direct Taxes (CBDT) on 1 November has proposed a single income tax return (ITR) form for all taxpayers.
Important facts
All taxpayers, except trusts and non-profit organisations, can file returns with the proposed new common ITR form, on which the CBDT has invited stakeholder comments by 15 December.
Currently, taxpayers are required to furnish their income tax returns in ITR-1 to ITR-7, depending on the category.
What is Income Tax Return (ITR)?
ITR is a form which a person is supposed to submit to the Income Tax Department of India.
It contains information about the income of the individual during the year and the taxes to be paid on it.
Kinds of ITR forms
There are seven types of ITR forms, which are used by different categories of taxpayers.
ITR Form 1 - ALSO called ‘Sahaj’, is for small and medium taxpayers. Sahaj forms can be filed by individuals who have an income up to Rs 50 lakh, with earnings from salary, one house property/ other sources (interest etc).
ITR-2 - It is filed by people with income from residential property.
ITR-3 - It is intended for people who have income as profits from business/ profession.
ITR-4 (Sugam) - It is, like ITR-1 (Sahaj), a simple form, and can be filed by individuals, Hindu Undivided Families (HUFs) and firms with total income up to Rs 50 lakh from businesses and professions.
ITR-5 and 6 - These are for limited liability partnerships (LLPs) and businesses respectively.
ITR-7 - It is filed by trusts and non-profit organisations.
The changes that has been proposed
As per the proposal, all taxpayers, except trusts and non-profit organisations (ITR-7), will use a single ITR form, which will include a separate head for disclosure of income from virtual digital assets.
The current ITR-1 and ITR-4 will continue.
The purpose of the draft form is to make return filing easier, and save the time of individuals and non-business-type taxpayers.
2. Union Minister kishan reddy inaugurated the Ganga Utsav 2022 in New Delhi
Tags: Festivals National National News
The Union Minister for Culture, Tourism G Kishan Reddy inaugurated the Ganga Utsav 2022 on 4 November, 2022 in New Delhi.
Important facts
National Mission for Clean Ganga (NMCG), Department of Water Resources, River Development and Ganga Rejuvenation, Ministry of Jal Shakti is organising Ganga Utsav.
It is organised on 4th November, 2022 at Major Dhyan Chand Stadium in New Delhi in two sessions.
G. Kishan Reddy was the Chief Guest in the morning session in the presence of the Minister for State, Jal Shakti and Tribal Affairs Bishweswar Tudu.
Union Jal Shakti Minister Gajendra Singh Shekhawat presided over the evening session.
NMCG will take Ganga Utsav - Nadi Mahotsav 2022 to new heights through active participation of multiple stakeholders.
Objective of Ganga Utsav 2022
The main objective of Ganga Utsav 2022 is to celebrate our rivers and spread awareness on the importance of river rejuvenation across river basins in India.
It aims to organise similar events at more than 75 locations in different states to celebrate the Festival of Rivers of India.
Various activities of Ganga Utsav will take place on both physical and virtual platforms at the Centre, State and District level.
Background of the Ganga Utsav
Initially this festival was organised in the year 2017 as 'Ek Sham Ganga Ke Naam' involving limited stakeholders.
With the help of an international consortium like Indo-German cooperation, the event later evolved into 'Bal Ganga Mela' in the year 2018.
Bal Ganga Mela 2018 was organised in association with HCL Foundation.
In the year 2019, the event progressed into a carnival, which saw the participation of school students and youth.
The third edition of Ganga Utsav 2020 was organised through a three-day virtual medium.
Ganga Utsav 2021- Nadi Mahotsav was celebrated as part of the celebration of 'Azadi Ka Amrit Mahotsav'.
3. Bank of England makes biggest interest rate hike in 33 years to cool rampant inflation
Tags: Economy/Finance International News
The central bank of the United Kingdom, Bank of England (BoE) raised its interest rates by the most since 1989 on 3 November 2022. It joins the US Federal Reserve and other central banks worldwide in rapid hikes as it tries to beat back high inflation fuelled by the conflict between Russia and Ukraine.
The BoE increased the Bank Rate to 3% from 2.25% and warned that the British economy might not grow for another two years.
The BoE Governor Andrew Bailey said that “High energy, food and other bills are hitting people hard. Households have less to spend on other things. This has meant that the size of the UK economy has started to fall,”
The BoE said it now expects inflation will hit a 40-year high of around 11% during the current quarter, more than five times its 2% target. But it also thinks the economy has entered a recession.
When there is a negative growth in the economy for the two consecutive quarters then the economy is in recession.
Problem of Gas in Europe
Europe has been particularly hard hit by a jump in natural gas prices as Russia responded to Western sanctions and support for Ukraine by curtailing shipments of the fuel used to heat homes, generate electricity and power industry and European nations competed for alternative supplies on global markets.
Important Central Banks in the world
Country | Central Bank | Central Bank Head |
India | Reserve Bank of India | Shaktikanta Das |
United States of America | Federal Reserve | Jerome Powel |
Japan | Bank of Japan | Haruhiko Kuroda |
China | People’s Bank of China | Yi Gang |
United Kingdom | Bank of England | Andrew Bailey |
European Euro Zone | European Central Bank | Christine Lagarde |
European Central Bank (ECB)
It is the Central Bank of the 19 European Union countries which have adopted Euro as their common currency.
Member countries of Eurozone: Belgium, Germany, Spain, France, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal and Finland, Slovenia , Cyprus, Malta, Slovakia, Estonia , Latvia, Lithuania.
4. NCST Gives Nod To Include Pahari Community In ST List
Tags: National State News National News
The National Commission for Scheduled Tribes (NCST) on 4 November, 2022 approved inclusion of Pahari Ethnic Group, Paddari Tribe, Koli and Gadda Brahmans in the Scheduled Tribes (STs).
Important facts
The proposal to include these groups in the list of STs was placed before the Commission on 7 October by the Union Ministry of Tribal Affairs.
The Commission studied and approved the proposal in its meetings.
The Union Ministry of Tribal Affairs will now submit a memorandum to the cabinet to approve the reservation for Pahari ethnic group, Paddari tribe, Kolis and Gadda Brahmins under the ST category.
After the cabinet approval, the ministry will introduce a bill in the Parliament to amend the Constitution (Jammu and Kashmir) Scheduled Tribes Order, 1989 to include these communities in the STs.
When approved by the Parliament, the President shall notify the revised schedule of the ST list under Article 342 of the Constitution of India.
On October 4 and 5, 2022, Home Minister Amit Shah had announced ST status for Pahari based on the recommendations of the GD Sharma panel.
About Pahari Community
Pahari people is a term used for several heterogeneous communities settled in parts of Jammu and Kashmir, Himachal Pradesh and Pakistan-occupied Kashmir (PoK).
Pahari is a term used to describe the various northern Indo-Aryan languages spoken by the people, most of them found in the lower Himalayas.
In 1989, the Government of Jammu and Kashmir had set up an advisory board for the development of the Pahari speaking people and the welfare of the Pahari people.
Four tribes to the list of Scheduled Tribes (ST)
The Hatti tribe in the Trans-Giri area in Himachal Pradesh.
The Narikoravan and Kurivikkaran hill tribes of Tamil Nadu.
The Binjhia tribe in Chhattisgarh.
The Cabinet also approved a proposal to bring the Gond community of Uttar Pradesh under the ST list.
National Commission for Scheduled Tribes
It has been established by amending Article 338 and inserting a new Article 338A in the Indian Constitution through the 89th Amendment Act.
It is a constitutional body.
It consists of a chairman, a vice-chairman and three whole-time members (including a woman member).
Its term is for 3 years and the chairman is appointed by the President.
It investigates and monitors matters relating to Safeguards provided for STs.
Chairman - Harsha Chauhan
- Union Minister of Tribal Affairs - Arjun Munda
5. Benjamin Netanyahu comes back to power in Israel
Tags: Person in news International News
Benjamin Netanyahu is going to become the Prime Minister of Israel once again. Netanyahu's party, the Likud Party, won 64 of the 120 seats in the final round of counting held on November 1.
Important facts
Elections have been held in Israel for the fifth time in the last three years, after which a party has returned to power with an absolute majority.
Netanyahu’s right-wing Likud party won 32 seats, his right-wing religious and nationalist bloc won a total of 64 seats in the 120 seat parliament, or Knesset.
Lapid’s Yesh Atid party won 24 seats.
Benjamin Netanyahu, 73, is the longest-serving prime minister, having been elected five times over the course of 15 years.
After the counting, his rival and Prime Minister Yair Lapid conceded defeat.
About Israel
Prime Minister - Benjamin Netanyahu
Capital - Jerusalem
President - Isaac Herzog
Currency - Israeli shekel
Official Languages - Hebrew; Arabic
6. Korean Film Festival begins in Dhaka
Tags: Festivals International News
A three-day festival of Korean films was inaugurated on 2 November in Dhaka, Bangladesh by State Minister of Cultural Affairs K M Khalid and the Korean Ambassador to Bangladesh Lee Jang-keun.
Important facts
The festival began with the screening of the acclaimed film 'Escape from Mogadishu' directed by Ryu Seung-wan.
The film is based on real-life events during the Somali Civil War when the embassies of North and South Korea resorted to humanity and compassion to flee the country.
The film was selected as the South Korean entry for Best International Feature Film at the 94th Academy Awards.
The festivities began with a two-minute silence in memory of those killed in Seoul during a recent Halloween event.
The five films shown at the festival depict the life and history of Korea and its people.
A large number of students and young people came to participate in the film festival enthusiastically.
7. Education Ministry releases Performance Grading Index for states, UTs
Tags: National National News
The Department of School Education and Literacy, Ministry of Education on 3 November, 2022 released the Performance Grading Index (PGI) for States/UTs for 2020-21.
Highlight of the Index
A total of 25.57 crore students were enrolled in schools from primary to higher secondary in the year 2021-22, while in the year 2020-21, 25.38 crore students were enrolled.
An increase of 19.36 lakhs was registered in the number of students enrolled in the year 2021-22.
In the year 2021-22, there was an increase of 4.82 crores in the enrollment of SC students, while in the year 2020-21 it was 4.78 crores.
The enrollment of ST students was 2.51 crore in the year 2021-22, as compared to 2.49 in the year 2020-21.
The enrollment of OBC students was 11.48 crore in the year 2021-22, as compared to 11.35 crore in the year 2020-21.
Gross Enrollment Ratio (GER)
An improvement in the Gross Enrollment Ratio in primary, upper primary and higher secondary level school education was observed in the year 2021-22 as compared to the year 2020-21.
In the higher secondary schools, an improvement in GER was recorded in the year 2020-21 to 53.8 percent and it increased to 57.6 percent in the year 2021-22.
Number of Teachers
During the year 2021-22, 95.07 lakh teachers were engaged in school education, of which more than 51 percent were female teachers.
In the year 2021-22, the pupil-teacher ratio (PTR) stood at 26 in primary, 19 in upper primary, 18 in secondary and 27 in higher secondary.
In this way, it is continuously improving from the year 2018-19.
Enrollment in Higher Secondary Education
In the year 2021-22, more than 12.29 crore girl students had enrolled from primary to higher secondary.
Thus, in 2020-21, an increase of 8.19 lakh was registered in the enrollment of girls as compared to boys.
The Gender Parity Index (GPI) shows that girls are at a reasonable level of representation in school education, given the population of girls in the same age group.
SC students enrollment
The enrollment of SC students from primary to higher secondary in the year 2021-22 increased to 4.83 crore as compared to 4.78 crore enrollment in the year 2020-21.
The enrollment of ST students increased from 2.49 crore in 2020-21 to 2.51 crore in 2021-22 and the enrollment of OBC students increased from 11.35 crore in 2020-21 to 11.49 crore in 2021-22.
Number of schools
There were 14.89 lakh schools in the year 2021-22, while the number of schools in the year 2020-21 was 15.09 lakh.
The main reason for the decrease in the number of schools was the closure of private schools and other managed schools and the formation of clusters of schools by different states.
Availability of infrastructure facilities in schools
Electricity connection - 89.3%
Drinking water - 98.2%
Girls Toilet - 97.5%
CWSN Toilet - 27%
Hand washing facility - 93.6%
Playground - 77%
Railing ramp for CWSN - 49.7%
Library/Reading Room/Reading Space - 87.3%
Sustainable Environmental Initiatives for Schools
Kitchen Garden - 27.7%
Rainwater Harvesting - 21%
About Performance Grading Index for states, UTs
The online data collection system from schools was developed by the Department of School Education and Literacy in the year 2018-19.
It is a unique index for evidence-based comprehensive analysis of school education systems across State/UTs.
Its objective is to promote evidence-based policy making and highlight course correction to ensure quality education for all.
This report was released for the year 2017-18, 2018-19 and 2019-20.
The present report is for the year 2020-21.
8. China launches third and final lab module of space station
Tags: Science and Technology International News
China on 1 November, 2022 launched its third and final permanent space station module (Tiangong space station).
Important facts
The name of this lab module is Mengtian.
Mengtian is the second lab module and the last major component of China's space station.
Mengtian will later be relocated to its permanent position and three modules—named Tianhe, the Wentian Lab Module, and Mengtian—will form a basic T-shaped structure of the space station.
It will provide space for science experiments in zero gravity.
Mengtian weighs about 23 tons, is 17.9 metres (58.7 ft) long and has a diameter of 4.2 metres (13.8 ft).
China's space laboratory will be fully ready as soon as this module, sent to the Wenchang Launching Station, located on the coast of the southern island province of Hainan, via Long March-5BY-4 rocket, connects to the space station Tiangong.
China successfully launched the first lab module of its under-construction space station in the last week of July 2022.
9. Union Cabinet approves MoU between India and Denmark on water resource development and management
Tags: International News
The Union Cabinet headed by Prime Minister Narendra Modi approved the Memorandum of Understanding (MoU) between India and Denmark on cooperation in the field of Water Resources Development and Management on 2 November 2022.
According to the Cabinet the MoU will strengthen cooperation in the field of water resources development and management; rural water supply; and sewage/wastewater treatment through direct collaboration between officials, academics, water sectors and industry in the areas under scope of cooperation.
India Denmark Cooperation on Water resource management
In September 2020, the Prime Minister of Denmark Mette Frederiksen and India’s Prime Minister Narendra Modi had launched a Joint Statement on establishment of Green Strategic Partnership between the two countries.
The joint statement, envisions co-operation in the field of environment/water, circular economy and sustainable urban development including smart cities.
As a follow up of the joint statement on Green Strategic Partnership, the Prime Minister made the declaration for the establishment of centre of excellence for smart water resources management and establishment of a lab for clean rivers in Varanasi on the lines of smart city lab in Panaji.
A letter of intent was signed between the Ministry of Jal Shakti, and Ministry of Environment, Govt. of Denmark on 3 May 2022 during visit of Prime Minister Modi to Denmark.
Basic purpose of the proposed cooperation is to ensure safe and secure water to meet present & future demands through holistic and sustainable approach.
Kingdom of Denmark
It is a country of Europe. Denmark, Norway and Sweden constitute the Scandinavian countries in Europe.
The world’s largest island Greenland is part of Denmark.
Capital: Copenhagen
Currency: Danish Krone
Prime Minister: Ms. Mette Frederiksen.
10. Union Cabinet approves naming Hollongi Airport as Donyi Polo Airport
Tags: Economy/Finance National News
The Union Cabinet, chaired by Prime Minister Narendra Modi, on 2 November approved naming of greenfield airport at Hollongi, Itanagar, as ‘Donyi Polo Airport.
Important facts
A resolution was passed by the state government of Arunachal Pradesh to name this airport 'Donny Polo Airport, Itanagar'.
The 'Doni Polo' reflects the people's respect for the Sun (Doni) and the Moon (Polo), symbols of the state's traditions and rich cultural heritage.
The Government of India had given 'in-principle' approval for the development of Hollongi Greenfield Airport in January 2019.
The project is being developed by the Airports Authority of India (AAI) in collaboration with the Central Government and the State Government of Arunachal Pradesh at a cost of Rs 646 crore.
Hollongi Airport is the third airport in the state and the only airport in the capital city after Pasighat and Tezu airports.
Doni Polo Airport in Itanagar is the 16th airport in Northeast India.
Operational airports in the north-eastern region
Guwahati, Silchar, Dibrugarh, Jorhat, Tezpur, Lilabari, and Rupsi (Assam); Pasighat and Tezu (Arunachal Pradesh); Agartala (Tripura); Imphal (Manipur); Shillong (Meghalaya); Dimapur (Nagaland); Lengpui (Mizoram) and Pakyong (Sikkim).
