Direct tax collection falls short by 14% in 2014-15
i. The direct tax collection by the government during 2014-15 fell short of the target by about 14 per cent with Rs. 6,96,200 crore revenue coming to its kitty.
ii. The Income Tax Department which collects a variety of taxes like Income Tax and Corporate Tax collected approximately Rs. 6,96,200 crore in the fiscal ending March 31, 2015.
iii. The achieved collections are about Rs. 9,000 crore less or 14 per cent short of the projected target of Rs. 7,05,000 crore.
iv. The collections are, however, 19 per cent more than the last fiscal. In 2013—14, the mop—up was Rs. 5,83,000 crore.
Gold imports jump 19.5% at $34.32 billion in FY15
i. Gold imports surged 19.5 per cent to reach USD 34.32 billion in 2014-15 due to declining prices and easing of restrictions by the Reserve Bank.
ii. Imports of the metal were USD 28.7 billion the previous fiscal, 2013-14.
iii. Increase in gold imports impacts the country’s trade deficit, which has reached USD 137 billion in 2014-15, and the current account deficit (CAD).
iv. The imports almost doubled in March to USD 4.98 billion which pushed the trade deficit to a four-month high of USD 11.79 billion for the month, according to the Commerce Ministry data.
v. India is the largest importer of gold, which mainly caters to the demand of the jewellery industry.
Future Group's Retail Business to Merge With Bharti Retail
i. Future RetailBSE 12.06 % Ltd said on Monday it had agreed to merge its retail operations with rival Bharti Retail Ltd to create one of India's biggest retail chain with more than 570 stores across the country.
ii. Under the deal structure, approved by the boards of the two companies, the retail business of Future Retail will be merged with Bharti Retail. The combined entity will own the retail operations of both the companies.
iii. In the second step, infrastructure, investments and assets of both the companies will be combined to create a new entity to be called Future Enterprises Ltd.
World Press Freedom Day observed globally
i. World Press Freedom Day is annually observed on May 3 to inform the international community that freedom of the press and freedom of expression are fundamental human rights.
ii. This year, the theme of World Press Freedom day is Let Journalism Thrive! Towards better reporting, gender equality and media safety in the digital age.
iii. World Press Freedom Day was proclaimed by the UN General Assembly in December 1993, following the recommendation of UNESCO's General Conference in 1991. Since then, 3 May is celebrated worldwide as World Press Freedom Day.
Tennis player Rafael Nadal received Golden Medal for Merit in Work of Spain
i. Ace tennis player Rafael Nadal received the Golden Medal for Merit in Work. Golden Medal is one of the top civilian honours of Spain which aims to highlight an exemplary performance in any job or profession.
ii. Nadal received the honour from the Spanish Prime Minister Mariano Rajoy Brey at the PM’s official residence Moncloa Palace in Madrid.
iii. Rafael Nadal is 14-time Grand Slam singles champion out of which he has won the French Open for a record nine times. He is often called The King of Clay and is currently ranked World Number 5.
Indian Railway girls clinch 5th National Hockey Championship title
i. Railway Sports Promotion Board (RSPB) have won the 5th National women hockey championship title.
ii. In the final match played at the Master Chandgi Ram sports stadium at Saifai, Uttar Pradesh the the RSPB girls team defeated Hockey Jharkhand by 12-2 goals.
iii. For the RSPB, Saundarya Yendala scored three goals in the final match while Sunita Lakra and Lilima Minz scored two goals each. Anuradha Devi, Manmeet Kaur, Anupa Barla, Poonam Barla, and Deepgrace Ekka scored one goal each for the winning team.
Whenever one has to appear for a job interview, apply for a passport or open a bank account, getting the documents attested by a gazetted officer or any authorised signing authority has always been a big hassle. However, these cumbersome preconditions like attestations and affidavits are undergoing a landmark reform. In a constant endeavour of the Government to simplify procedures of attestation and certification, all Central Ministries/Departments as well as State Government/UTs have been requested to review the existing requirement in this regard and make provision for self certification, wherever possible.
Self attestation is an essential method to affirm that the copies of documents presented as proofs of one’s identity and whereabouts are true and original. In a country which still functions on paperwork, a lot of documents have to be submitted along with every form we fill. The last dates for the forms approach so soon and half of the times we are worrying about where to find a gazetted officer who will attest the copies of our original documents. We end up calling friends, relatives to find one person who would attest our documents so that the form gets submitted in time. Recently Government of India has asked all its departments and state governments to make provisions for self-certification and accept documents which are self-attested as a confirmation of identity in place of attestation by a gazetted officer. This practice has already been adopted by some of the Central Government agencies and is being introduced in various states gradually. University Grants Commission has also issued special instructions through D.O.No.F. 14-1412014(CPP-ll) dated 26th September, 2014 regarding abolition of affidavits and adoption of self certification. This move comes as a big relief not only to the students but also to all the individuals associated with the academics. Self-attestation would save time and money as people will not have to chase officers for attestation of documents. It has been seen that some of these officers charge for these services making it a part-time business. In most of the cases one hardly knows the gazetted officer and getting documents attested by a stranger seems pointless. If the government’s idea behind attestation is an assurance of the person’s identity and character then a document attested by a stranger is useless. The government’s initiative of switching over to self-attestation is a welcome move as it also gives us the opportunity to take responsibility and ownership of our own actions.
Self-certification might seem risky as not all self-attested documents will be true but this puts the blame directly on the person who is attesting false documents. He/she will be solely responsible for any false documents attested by them. The advantages of self-attestation are that the public agencies can impose penal liability for making wrong statements in terms of suspension of the services (suspension of ration card facilities, disconnection of power supply, etc.). This will save a lot of botheration and sizeable expenses for the citizen who has to procure stamps/stamp paper which is mostly not available at the place where the affidavit is to be submitted. There appears to be no legal problem in adopting this practice. The Indian Penal Code contains a number of Sections such as 177, 193, 197, 198, 199 and 200. These Sections specifically deal with the implications of any false information/evidence/disclosure/ declaration made by the deponents and, any such instances included shall be liable to imposition of penalties, fines, registration of criminal cases and even imprisonment, as the case may be.
The Department of Electronics & Information Technology (DeitY) has recently launched an Aadhaar-based e-locker service for storing documents. Users will be able to store electronic versions of important documents like birth certificates, voters ID cards, academic documents, etc in the e-locker. They can also electronically sign these documents with the e-sign facility, which is currently still being tested, and then share them with government organisations or other entities when required. The sharing of e-documents will be done through a registered repository, which will ensure that the documents are authentic. This is likely to reduce usage of fake documents to a certain extent and also minimize time spent on authenticating documents. To Sign-up for the DigiLocker you need to have an Aadhaar number and a mobile number registered with Aadhaar. Following are the key features of the DigiLocker: i. Digital Locker of each resident is linked to their Aadhaar number. ii. 10MB of free space in the locker to securely store resident documents and store links (URI) of Govt. department or agency issued e-documents. The storage space allocation will be increased to 1GB in subsequent release. iii. eSign online service to digitally sign the documents online without using dongle. For details please refer to the e-Sign brochure available on the portal iv. Sharing of e-documents online with any registered requester agency or department . Download eAadhaar viz. List of issuers who have issued e-documents to residents and list of requesters which have accessed resident’s documents.
-Source Emplyment News, Last week edition
i. The direct tax collection by the government during 2014-15 fell short of the target by about 14 per cent with Rs. 6,96,200 crore revenue coming to its kitty.
ii. The Income Tax Department which collects a variety of taxes like Income Tax and Corporate Tax collected approximately Rs. 6,96,200 crore in the fiscal ending March 31, 2015.
iii. The achieved collections are about Rs. 9,000 crore less or 14 per cent short of the projected target of Rs. 7,05,000 crore.
iv. The collections are, however, 19 per cent more than the last fiscal. In 2013—14, the mop—up was Rs. 5,83,000 crore.
Gold imports jump 19.5% at $34.32 billion in FY15
i. Gold imports surged 19.5 per cent to reach USD 34.32 billion in 2014-15 due to declining prices and easing of restrictions by the Reserve Bank.
ii. Imports of the metal were USD 28.7 billion the previous fiscal, 2013-14.
iii. Increase in gold imports impacts the country’s trade deficit, which has reached USD 137 billion in 2014-15, and the current account deficit (CAD).
iv. The imports almost doubled in March to USD 4.98 billion which pushed the trade deficit to a four-month high of USD 11.79 billion for the month, according to the Commerce Ministry data.
v. India is the largest importer of gold, which mainly caters to the demand of the jewellery industry.
Future Group's Retail Business to Merge With Bharti Retail
i. Future RetailBSE 12.06 % Ltd said on Monday it had agreed to merge its retail operations with rival Bharti Retail Ltd to create one of India's biggest retail chain with more than 570 stores across the country.
ii. Under the deal structure, approved by the boards of the two companies, the retail business of Future Retail will be merged with Bharti Retail. The combined entity will own the retail operations of both the companies.
iii. In the second step, infrastructure, investments and assets of both the companies will be combined to create a new entity to be called Future Enterprises Ltd.
World Press Freedom Day observed globally
i. World Press Freedom Day is annually observed on May 3 to inform the international community that freedom of the press and freedom of expression are fundamental human rights.
ii. This year, the theme of World Press Freedom day is Let Journalism Thrive! Towards better reporting, gender equality and media safety in the digital age.
iii. World Press Freedom Day was proclaimed by the UN General Assembly in December 1993, following the recommendation of UNESCO's General Conference in 1991. Since then, 3 May is celebrated worldwide as World Press Freedom Day.
Tennis player Rafael Nadal received Golden Medal for Merit in Work of Spain
i. Ace tennis player Rafael Nadal received the Golden Medal for Merit in Work. Golden Medal is one of the top civilian honours of Spain which aims to highlight an exemplary performance in any job or profession.
ii. Nadal received the honour from the Spanish Prime Minister Mariano Rajoy Brey at the PM’s official residence Moncloa Palace in Madrid.
iii. Rafael Nadal is 14-time Grand Slam singles champion out of which he has won the French Open for a record nine times. He is often called The King of Clay and is currently ranked World Number 5.
Indian Railway girls clinch 5th National Hockey Championship title
i. Railway Sports Promotion Board (RSPB) have won the 5th National women hockey championship title.
ii. In the final match played at the Master Chandgi Ram sports stadium at Saifai, Uttar Pradesh the the RSPB girls team defeated Hockey Jharkhand by 12-2 goals.
iii. For the RSPB, Saundarya Yendala scored three goals in the final match while Sunita Lakra and Lilima Minz scored two goals each. Anuradha Devi, Manmeet Kaur, Anupa Barla, Poonam Barla, and Deepgrace Ekka scored one goal each for the winning team.
Whenever one has to appear for a job interview, apply for a passport or open a bank account, getting the documents attested by a gazetted officer or any authorised signing authority has always been a big hassle. However, these cumbersome preconditions like attestations and affidavits are undergoing a landmark reform. In a constant endeavour of the Government to simplify procedures of attestation and certification, all Central Ministries/Departments as well as State Government/UTs have been requested to review the existing requirement in this regard and make provision for self certification, wherever possible.
Self attestation is an essential method to affirm that the copies of documents presented as proofs of one’s identity and whereabouts are true and original. In a country which still functions on paperwork, a lot of documents have to be submitted along with every form we fill. The last dates for the forms approach so soon and half of the times we are worrying about where to find a gazetted officer who will attest the copies of our original documents. We end up calling friends, relatives to find one person who would attest our documents so that the form gets submitted in time. Recently Government of India has asked all its departments and state governments to make provisions for self-certification and accept documents which are self-attested as a confirmation of identity in place of attestation by a gazetted officer. This practice has already been adopted by some of the Central Government agencies and is being introduced in various states gradually. University Grants Commission has also issued special instructions through D.O.No.F. 14-1412014(CPP-ll) dated 26th September, 2014 regarding abolition of affidavits and adoption of self certification. This move comes as a big relief not only to the students but also to all the individuals associated with the academics. Self-attestation would save time and money as people will not have to chase officers for attestation of documents. It has been seen that some of these officers charge for these services making it a part-time business. In most of the cases one hardly knows the gazetted officer and getting documents attested by a stranger seems pointless. If the government’s idea behind attestation is an assurance of the person’s identity and character then a document attested by a stranger is useless. The government’s initiative of switching over to self-attestation is a welcome move as it also gives us the opportunity to take responsibility and ownership of our own actions.
Self-certification might seem risky as not all self-attested documents will be true but this puts the blame directly on the person who is attesting false documents. He/she will be solely responsible for any false documents attested by them. The advantages of self-attestation are that the public agencies can impose penal liability for making wrong statements in terms of suspension of the services (suspension of ration card facilities, disconnection of power supply, etc.). This will save a lot of botheration and sizeable expenses for the citizen who has to procure stamps/stamp paper which is mostly not available at the place where the affidavit is to be submitted. There appears to be no legal problem in adopting this practice. The Indian Penal Code contains a number of Sections such as 177, 193, 197, 198, 199 and 200. These Sections specifically deal with the implications of any false information/evidence/disclosure/ declaration made by the deponents and, any such instances included shall be liable to imposition of penalties, fines, registration of criminal cases and even imprisonment, as the case may be.
The Department of Electronics & Information Technology (DeitY) has recently launched an Aadhaar-based e-locker service for storing documents. Users will be able to store electronic versions of important documents like birth certificates, voters ID cards, academic documents, etc in the e-locker. They can also electronically sign these documents with the e-sign facility, which is currently still being tested, and then share them with government organisations or other entities when required. The sharing of e-documents will be done through a registered repository, which will ensure that the documents are authentic. This is likely to reduce usage of fake documents to a certain extent and also minimize time spent on authenticating documents. To Sign-up for the DigiLocker you need to have an Aadhaar number and a mobile number registered with Aadhaar. Following are the key features of the DigiLocker: i. Digital Locker of each resident is linked to their Aadhaar number. ii. 10MB of free space in the locker to securely store resident documents and store links (URI) of Govt. department or agency issued e-documents. The storage space allocation will be increased to 1GB in subsequent release. iii. eSign online service to digitally sign the documents online without using dongle. For details please refer to the e-Sign brochure available on the portal iv. Sharing of e-documents online with any registered requester agency or department . Download eAadhaar viz. List of issuers who have issued e-documents to residents and list of requesters which have accessed resident’s documents.
-Source Emplyment News, Last week edition
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