1. India launches pilot phase of open e-commerce network
Tags: National Economics/Business
India has launched the pilot phase of Open Network for Digital Commerce (ONDC) in five cities.
ONDC is a UPI-type protocol and the entire exercise is aimed at expanding the reach of the fast-growing e-commerce sector to far-flung areas, helping small retailers and reducing the dominance of online giants.
The initiative also aims to curb the dominance of the two big multinational e-commerce players, who control more than half of the country's e-commerce business.
ONDC is a set of standards for voluntary adoption by vendors or logistics providers or payment gateways.
The pilot phase aims to connect 150 retailers across five cities – Delhi NCR, Bengaluru, Bhopal, Shillong and Coimbatore.
Presently 80 firms are working with ONDC and they are in various stages of integration.
These companies are building their apps for sellers, buyers, logistics or payment gateways.
2. Governments ignoring court orders: CJI
Tags: National News
Chief Justice of India NV Ramana said non-functioning of various organs of the executive and ambiguity in laws are adding to the litigation burden on the judiciary.
Contempt petitions are a new category of burden on courts, which are a direct result of disobedience by governments.
Such actions show the sheer disobedience of the governments towards judicial pronouncements.
The tendency to delegate the responsibility of decision making to the courts is clearly visible.
The ambiguity of the legislature, lack of foresight, and public consultation before enacting a law have led to a docket explosion.
What is Contempt of the Court?
Contempt of court is the offence of being disobedient to or disrespectful toward a court of law and its officers.
There are two categories of contempt-
Disrespecting the legal authorities in the courtroom.
Willfully failing to comply with a court order.
Article 129 of the Constitution empowered the Supreme Court to punish for contempt of itself.
Article 215 confers similar power on High Courts.
The Contempt of Courts Act, 1971, gives statutory support to this idea.
3. IRS officer Sangeeta Singh given additional charge of CBDT chairman
Tags: National Latest Person in news
Indian Revenue Service (IRS) officer Sangeeta Singh has been given the additional charge of chairperson of the Central Board of Direct Taxes (CBDT) after CBDT chief JB Mohapatra retired on April 30.
Sangeeta Singh was given the additional charge of Chairperson of CBDT for a period of three months or till the appointment of regular Chairman.
Sangeeta Singh is a 1986 batch IRS officer of Income Tax Cadre.
Sangeeta Singh is presently Member (Income Tax & Revenue) in CBDT. In addition he also holds the additional charge of Member (Taxpayer Services) in CBDT.
About Central Board of Direct Taxes -
The Central Board of Direct Taxes is a part of the Department of Revenue in the Ministry of Finance.
All matters relating to direct taxes in India were handed over to the Central Board of Direct Taxes with effect from 1 January 1964.
CBDT provides essential information for policies and schemes of Direct Taxes in India.
The CBDT consists of six members. The Chairman and other members of the CBDT are selected from the Indian Revenue Service and the premier civil service of India.
4. Bihar CM inaugurates India’s first ethanol plant in Purnia
Tags: Latest State News National News
The country's first ethanol plant operated from coarse grains was inaugurated by the Chief Minister of Bihar, Nitish Kumar on 30 April 2022 in Purnia district of Bihar.
This is the first plant set up after the Central Government approved the Ethanol Production and Promotion Policy-2021 of the Government of Bihar.
Ethanol will be manufactured from maize and broken rice in the plant, which will benefit more than 10000 farmers of Bihar in the coming time.
The production capacity of the Greenfield Grain Based Ethanol Plant is 65 thousand litres per day.
The plant has been designed keeping in mind the environment friendly so as to ensure zero liquid discharge and cause less damage to the environment.
This plant has been set up at a cost of one hundred and five crores.
Production of ethanol will reduce the cost of petrol in the state and create new employment opportunities.
About ethanol-
Ethanol is a kind of alcohol, it is also called ethyl alcohol.
It can be used as fuel in vehicles by mixing it with petrol.
After sugarcane, the central government is now focusing on preparing ethanol from rice.
By producing ethanol, farmers can make their economic condition better by earning good profits.
Ethanol is mainly produced from the sugarcane crop, but it can also be prepared from different types of sugar crops.
5. World Bank Approves $47 Million Loan For Indian Govt's ‘Mission Karmayogi' Program For Civil Services
The World Bank has approved a USD 47 million project for the Government of India's National Program for Civil Services Capacity Building (NPCSCB) - 'Mission Karmayogi'.
The World Bank's funding is intended to support the government's objectives of enhancing the functional and practical competencies of approximately 4 million civil servants.
The project will help support Mission Karmayogi by developing a competency framework for central ministries, departments and agencies.
The program will focus on three components- development and implementation of competency framework, development of integrated learning platform and program monitoring, evaluation and management.
The project is also aligned with the World Bank's twin goals of ending extreme poverty and building shared prosperity.
About Mission Karmayogi Scheme-
Mission Karmayogi Yojana was launched on 2nd September 2020.
This scheme is operated under the leadership of Prime Minister Narendra Modi.
The main objective of the Mission Karmayogi scheme is to develop the capabilities of government employees.
Under the Mission Karmayogi scheme, a budget of Rs 510.86 crore has been set by the government for a period of 5 years for about 46 lakh central employees.
For the successful operation of the scheme iGOT Karmayogi platform has also been formed through which online contact is made available.
6. PM participates in unveiling of Sardar Patel’s statue in Canada
Tags: Latest International News
Prime Minister Narendra Modi attended a ceremony in Markham, Canada on May 1, where a statue of Sardar Patel was unveiled at the Sanatan Mandir Cultural Centre.
PM Modi lauded the unveiling of the statue as a great initiative by the diaspora to deepen cultural ties with India.
He said that the statue of Sardar Patel would not only strengthen the cultural values but would also become a symbol of relations between the two countries.
He said, India is not only a nation, but also an idea and culture.
He said that India is that high level idea which talks of 'Vasudhaiva Kutumbakam'.
India-Canada relation
India-Canada bilateral relationship is based on the shared values of democracy, pluralism, and extended economic engagement.
Relations between the two countries are based on shared democratic values, the multi-cultural, multi-ethnic and multi-religious nature of the two societies, and people-to-people ties.
The visit of the Prime Minister of India to Canada in 2015 has transformed the bilateral relationship into a strategic partnership.
Both the countries pursue bilateral relations through the following dialogue mechanisms-
Joint Working Group on Higher Education(Since 2019)
Ministerial Level – Strategic, Trade and Energy Dialogue
Other sector specific joint working groups
Joint Committee Meeting on Civil Nuclear cooperation
India-Canada Strategic Dialogue by the External Affairs Ministers of both nations
Bilateral trade between India and Canada is worth US$ 5 billion.
More than 400 Canadian companies have a presence in India, and over 1,000 companies are actively trading in the Indian market.
India exports pharma, iron and steel, chemicals, gems and jewellery, nuclear reactors and boilers to Canada.
Imports include minerals, ores, vegetables, fertiliser, paper and pulp.
7. Sheikh Hasina offered Chittagong port to India
Tags: International Relations Popular National News
In a major development in India-Bangladesh ties, India has now gained significant access to the Chittagong port after it was offered to India by Bangladeshi Prime Minister Sheikh Hasina.
About Chittagong Port
The Chittagong Port is the major seaport of Bangladesh.
It is situated in the port city of Chittagong and on the banks of river Karnaphuli.
Due to the sea port's proximity to the North-East Indian states, it has the potential to boost economic activity in the North-East Indian states, providing access to global shipping lanes.
In the year 2010, India and Bangladesh signed a Memorandum of Understanding (MoU) to allow the use of Chittagong and Mongla ports in Bangladesh for movement of goods to and from India.
In 2018, the Bangladesh cabinet approved a proposed agreement with New Delhi to allow the use of the two ports for the transport of goods.
The port handles eighty percent of Bangladesh's export-import trade, and is used for transshipment by Bhutan, Nepal and India.
Chittagong port is being developed and modernised with Chinese investment.
Benefits for India
An additional connectivity route which is economical and environment friendly.
States like Assam, Meghalaya and Tripura get access to a port for transportation of goods.
Promote multi-modal connectivity between India and Bangladesh.
Important route for India to reach Southeast Asia, East Asia and beyond.
8. Sheikh Hasina offered Chittagong port to India
Tags: International Relations Popular National News
In a major development in India-Bangladesh ties, India has now gained significant access to the Chittagong port after it was offered to India by Bangladeshi Prime Minister Sheikh Hasina.
About Chittagong Port
The Chittagong Port is the major seaport of Bangladesh.
It is situated in the port city of Chittagong and on the banks of river Karnaphuli.
Due to the sea port's proximity to the North-East Indian states, it has the potential to boost economic activity in the North-East Indian states, providing access to global shipping lanes.
In the year 2010, India and Bangladesh signed a Memorandum of Understanding (MoU) to allow the use of Chittagong and Mongla ports in Bangladesh for movement of goods to and from India.
In 2018, the Bangladesh cabinet approved a proposed agreement with New Delhi to allow the use of the two ports for the transport of goods.
The port handles eighty percent of Bangladesh's export-import trade, and is used for transshipment by Bhutan, Nepal and India.
Chittagong port is being developed and modernised with Chinese investment.
Benefits for India
An additional connectivity route which is economical and environment friendly.
States like Assam, Meghalaya and Tripura get access to a port for transportation of goods.
Promote multi-modal connectivity between India and Bangladesh.
Important route for India to reach Southeast Asia, East Asia and beyond.
9. Pakistan gets $8 billion in financial support from Saudi Arabia
Tags: International News
Saudi Arabia has agreed to provide a relief package of about 8 billion US dollars to Pakistan.
This package is expected to give a big help to Pakistan in recovering its dwindling foreign exchange reserves and troubled economy.
At present, Pakistan is beset with serious financial challenges due to high rate of inflation, dwindling foreign exchange reserves, severe current account deficit and weakening of its currency.
The agreement was signed during the visit of Pakistan Prime Minister Shahbaz Sharif to Saudi Arabia.
It provides for funding for oil, additional funds through deposits or succulents, and advances of $4.2 billion in facilities.
Pakistan had proposed to increase the funding for oil from $ 1.2 billion to $ 2.4 billion, which Saudi Arabia accepted.
It was also agreed that the existing deposits of $3 billion would be rolled over for an extended period up to June 2023.
Other Financial support of UAE to Pakistan
Saudi Arabia provided a $3 billion deposit to the State Bank of Pakistan in December 2021.
The Saudi oil facility became operational in March 2022, receiving $100 million for Pakistan to purchase oil.
This oil-rich Gulf country had given a package of $ 7.5 billion to Pakistan during the last term of the PML-N government (2013-18).
In the PTI-led government headed by former prime minister Imran Khan, Saudi Arabia provided a $4.2 billion package, including a $3 billion deposit and a $1.2 billion oil facility for one year, and linked it to the IMF program
Pakistan’s foreign exchange reserves have depleted by $6 billion in the last six to seven weeks and nosedived to $10.5 billion.
Pakistan needs financial assistance of $ 9-12 billion by June 2022 to prevent depletion of foreign exchange reserves.
10. 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.
