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Gujarat , Andhra , Jharkand top rankers in ease of doing business
- According to the report released by World Bank , Gujarat topped among states in implementing an ‘action plan ‘ on ease of doing business with Andhra Pradesh and Jharkand at 2nd and 3rd respectively.
- The focus of the study is on 8 key areas : The setting up of a business, allotment of land , construction permits,environment clearances , labour regulations,obtaining infrastructure related utilities , e-payment of tax , inspections and enforcing contracts.
- As per the report , most of the states had made good progress in terms of tax reforms
- But the World Bank stated that so far only 32% of the reforms had been implemented on a pan India basis.
- 6 of the BJP rules states had found their way into the top 10.
Panel formed to restructure water agencies
- The Ministry for Water Resources has constituted a seven-member committee led by former Planning Commission member Mihir Shah to restructure the Central Water Commission and the Central Ground Water Board to encourage optimal development of water resources in the country.
- The committee will embark on water resource planning , augmenting and budgeting in an integrated manner.
- The river basin planning to be carried out will include mapping , measuring rainfall flows, rate of groundwater recharge etc,
- With most of the Indian rivers found to be highly polluted a new approach is necessary to ensure sustainable development.
Chinese , Indian stand off in Ladakh
- Another stand off occured in the Ladakh region where Indian army demolished a watch tower constructed by the Chinese on the Indian border.
- These stand offs are routine due to the lack of border treaty with the Chinese which adds to the confusion.
- However Beijing denied any confrontation and stated that China was committed to maintaining peace and tranquillity.
Indo-US trade can grow to $500 billion : Arun Jaitley
- Addressing the 11th Indo-US Economic Summit , finance minister Arun Jaitley stated that Indo-US bilateral trade can rise to $ 500 billion from the current $ 100 Billion.
- According to him , there were vast opportunities for American companies in sectors like infrastructure , ports , railways and clean energy
- The finance minister has stated that the government was taking maximum efforts to put in a taxation regime that is fair and predictable which was critically looked upon by MNCs following the retrospective imposition of Minimum Alternate Tax. The finance minister ruled out any retrospective imposition of MAT in the future.
- The GST bill is seen as critical to implement tax reforms in the country as GST seeks to subsume all indirect taxes into one tax and is expected to raise growth and development .
Novak Djokovic wins US Open
- Novak Djokovic won the US Open by beating Roger Federer 6-4 ,5-7,6-4,6-4.
- The match went on for over 3 hours and 20 minutes with both players displaying great technique and tactics.
- 17 time grand slam winner Federer ‘s recent dry run had put questions of retirement for the 34 year old which he brushed aside saying he was happy with his game.
- Djokovic had lost four of his five previous finals at the US Open although the hard court was his most preferred turf.
GK QUESTIONS OF THE DAY
1) Also known as a skeleton coast , This desert is one of the most arid places on earth after the Atacama desert in Chile. The cold Beneguela current and the Drakensburg mountains are responsible for this coastal desert. It is sparsely populated by a few nomadic tribes. Which place is this??
Answer: Namib Desert
2)Which country sold Alaska to the USA???
3)Among the following list of countries , which of the following do not have a GST ??
d) All of them have GST
Answer: China is not a Federation , has unitary structure due to which there is no need for GST