• UGI USER
  • Sep 20, 2023
  • 26 Likes
  • 1 Comments

Daily News Analysis.

Cognizant to pay DDT, says tribunal 

News: Cognizant Technology Solutions suffered a blow when the Income Tax Appellate Tribunal mandated that it pay dividend distribution tax (DDT) on a share buyback of Rs 19,080 crore for the assessment year 2017–18.

Dividend distribution tax (DDT) 

  • Dividend Distribution Tax (DDT) was a tax levied by the Indian government on companies distributing dividends to their shareholders. 
  • Introduced in 1997, it was intended to collect tax at the company’s end rather than the individual shareholders’.
  •  Under this system, companies were required to pay a specified percentage of the dividend amount as tax before distributing dividends to shareholders. However, in a bid to promote investment and attract foreign capital, the Indian government abolished DDT in the Union Budget of 2020-21. 
  • This change shifted the tax liability back to individual shareholders, impacting their overall tax liability. 
  • The removal of DDT aimed to simplify taxation and make India a more investor-friendly destination, aligning with the government’s goal of improving the ease of doing business in the country.

 

NGT tells M.P. govt. to stop motorised boats, cruise in wetlands.

News: The Madhya Pradesh government came under fire from the National Green Tribunal (NGT) on Tuesday for the “very drastic” damage done to water bodies. The NGT also issued an order for the state to cease operating cruise ships and other motor-propelled boats in the Bhoj wetland.

 

Bhoj Wetlands 

  • Bhoj Wetlands, also known as the Bhoj Wetland Conservation Complex, is a significant ecological and cultural heritage site located in the central Indian state of Madhya Pradesh. 
  • Covering an area of approximately 32 square kilometers, these wetlands are nestled around the historic city of Bhopal and consist of two major lakes, the Upper Lake (or Bada Talab) and the Lower Lake (or Chhota Talab), along with their surrounding catchment areas.
  • Bhoj Wetlands are of immense ecological importance as they provide critical habitats for a diverse range of flora and fauna, including several endangered and migratory bird species. 
  • These wetlands also play a vital role in groundwater recharge and flood control for the region.
  • They are home to several ancient temples, including the renowned Bhojeshwar Temple dedicated to Lord Shiva, which dates back to the 11th century and stands as an architectural marvel. 
  • The presence of these temples and the surrounding cultural landscape make the Bhoj Wetlands an important pilgrimage and heritage site.
  • Efforts have been made to protect and conserve the Bhoj Wetlands due to their ecological and cultural significance. The wetlands face challenges such as pollution, encroachment, and water level fluctuations. 
  • Conservation initiatives and awareness campaigns have been launched to safeguard this unique and valuable ecosystem, emphasizing the need for sustainable development and the preservation of both its natural and cultural heritage.

 

About NGT

● The National Green Tribunal Act of 2010 established the National Green Tribunal.

● The Tribunal’s principal location of sitting is in New Delhi, while its other four places of sitting are in Bhopal, Pune, Kolkata, and Chennai.

● Within six months after the application or appeal’s submission, the NGT is required to render a final decision.

● Function and authority of the tribunal: Designed to efficiently and effectively handle disputes involving the preservation of forests, the environment, and other natural resources. It has the authority to hear appeals in its capacity as a Court. The Code of Civil Process, 1908’s rules of procedure are not binding on the Tribunal; instead, it will be guided by the notions of natural justice.

Composition of NGT members?

● The chairperson, judicial members, and expert members make up the tribunal and they cannot be reappointed and will serve a period of five years in office.

● The Chief Justice of India and the Central Government both have input over the appointment of the Chairperson.

● To appoint the Judicial Members and Expert Members, the central government shall establish a Selection Committee.

● The tribunal must have a minimum of 10 and a maximum of 20 full-time judges and expert members.

Centre launches Skill India Digital app to find jobs, training opportunities.

News: The Skill India Digital app, which combines job listings with listings for upskilling courses, was formally launched by Union Finance Minister Nirmala Sitharaman.

  • The software will be integrated with DigiLocker and Aadhaar to provide certified completion certificates and create digitally signed resumes for job seekers and learners.
  • The National Career Service, a five-year project launched by the Government in 2015 for job seekers, the Udyam portal for micro, small, and medium-sized enterprise registration, and the eShram portal, which was created to build a National Database of Unorganised Workers, are all connected to Skill India Digital.
  • As stated by Mr. Chandrasekhar, the app would facilitate the distribution of skill-building courses as well as the use of digital matchmaking to connect prospective employees and companies.
  • The National Skill Development Corporation created the app.

 

13th Indo-Pacific Armies Chiefs Conference (IPACC) to be held from 26 to 27 of Sept in New Delhi.

News: This month’s 13th Indo-Pacific Armies Chiefs Conference (IPACC) will take place at the Manekshaw Centre in New Delhi.

  • Army commanders from 30 countries in the Indo-Pacific will gather for a two-day conference to discuss security cooperation and regional collective plans.
  • The conference will also cover topics of shared interest in the area and how military diplomacy might help to resolve conflicts in the area.
  • The US Army Pacific and the Indian Army will be hosting this event for the thirteenth time in a row.
  • The Indian Army has significantly contributed to promoting peace and stability in the Indo-Pacific region since independence.
  • He stated that the leaders of the Indo-Pacific militaries will discuss the necessity for modern forces to be self-sufficient, the role of military diplomacy in reducing the impact of crises, and improving cooperation and interoperability during the meeting.
  • The Indo-Pacific region is home to 64% of the world’s population and generates 63% of its GDP, which includes 46% of global trade in goods. The Indo-Pacific region clearly plays a crucial role in the global economy.

 

Jyotiraditya Scindia to inaugurate newly developed infrastructure of Tezu Airport in Arunachal Pradesh.

News: On September 24, Arunachal Pradesh’s Tezu Airport will officially open its freshly constructed infrastructure thanks to the efforts of Minister of Civil Aviation Jyotiraditya M Scindia. 

  • An extension of the runway, the creation of a new apron, a new terminal building and a fire station/ATC Tower are all examples of the newly created infrastructure. 
  • To develop the airport’s infrastructure, the government has invested 170 crore rupees. 
UDAN scheme

  • The UDAN (Ude Desh ka Aam Nagrik) scheme is a flagship initiative of the Indian government aimed at enhancing regional connectivity by promoting affordable air travel.
  • Launched in 2017, UDAN focuses on connecting underserved and unserved airports across the country, making air travel more accessible to the common citizen.
  • It offers subsidies to airlines and reduces fares on select routes, encouraging participation from various airlines.
  • UDAN has played a pivotal role in boosting regional economies, tourism, and improving accessibility to remote areas, thereby fostering economic growth and social development.