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MoC&F launched web portal with Statistical Data of Chemical SectorThe Ministry of Chemicals and Fertilizers(MoC&F) has launched a web portal (www.charak.chemicals.gov.in) to provide statistical data related to the chemical sector for the benefit of all stakeholders.
- The portal was launched during the Sensitization workshop on ChemIndia – Chemicals Inventory of India: An Online Data Management System in New Delhi, Delhi.
- The workshop was organised by Department of Chemicals and Petrochemicals(DOCP), MoC&F and Federation of Indian Chambers of Commerce & Industry (FICCI).
About the Portal:
i.The web portal developed by Department of Chemicals and Petrochemicals along with the National Informatics Center(NIC).
ii.The portal aims to provide statistical data on the chemical sector to all stakeholders.
iii.The portal will facilitate the collection of data on production, installed capacity, exports, imports, purchases, and sales of chemicals in Chemical sectors.
The portal streamlines data supply, foster efficiency, and provides access to latest innovations and technological advancements related to chemical and petrochemical industries.
This protal will provide a support system to help industries to implement best practices, create an accurate inventory of the chemical data system, and provide geographical data support to various stakeholders.
- This benefits the users, researchers, academicians, policy makers to generate visualizations and reports according to their needs.
During October-November 2023, DOCP has planned workshops in various cities, including Vadodara(Gujarat), Vapi(Gujarat), Pune(Maharashtra), Bengaluru(Karnataka), Chennai(Tamil Nadu), Bhubaneswar(Odisha), and Hyderabad(Telangana) to raise awareness about the web portal.
Indian Navy Conducts Annual Joint HADR Exercise CHAKRAVAT 2023 The 2023 edition of the Annual Joint Humanitarian Assistance and Disaster Relief (HADR) Exercise (AJHE) – “CHAKRAVAT 2023” was conducted by the Indian Navy (IN) at Goa from 09th to 11th October 2023.
- AJHE is the result of Prime Minister Narendra Modi’s preference conveyed during the Combined Commanders’ Conference in 2015.
- To address the challenges posed by climate change in the Indian Ocean Region (IOR), the Indian armed forces conduct HADR operations as part of India’s Security And Growth for All in the Region (SAGAR) initiative.
- This exercise evolved the Indian armed force’s assistance in disaster times as a collaborative government approach that enhanced India’s preparedness and response to natural disasters.
i.The first edition of the exercise was held in 2015 and it has been conducted by the Indian Army, Indian Navy (IN), and Indian Air Force (IAF) in rotation since 2016.
ii.The last edition of the exercise ‘Samanvay 2022’ conducted by the Indian Air Force (IAF) was held in Agra, Uttar Pradesh.
i.AJHE witnessed the participation of the Indian Armed Forces, various national agencies, and eight countries from the IOR.
ii.The national agencies that participated were
- National Disaster Management Authority (NDMA), National Disaster Response Force (NDRF), National Institute for Disaster Management (NIDM), Indian Army, Indian Navy, Indian Air Force, Coast Guard, Indian Metrological Department (IMD), National Remote Sensing Agencies (NRSA).
- State Disaster Management Agency (SDMA) and State Fire Services, Goa, District Disaster Management Agency (DDMA) of North and South, Goa, Indian National Centre for Ocean Information Services (INCOIS).
- Central Water Commission (CWC), Defence Research and Development Organisation (DRDO), and representatives from the Federation of Indian Chambers of Commerce and Industry (FICCI).
iii. The eight countries in the IOR that participated includes Mauritius, Comoros, Seychelles, Tanzania, Sri Lanka, Mozambique, Madagascar, and Maldives.
i.The CHAKRAVAT-2023 includes a seminar, a Table-Top Exercise, and a Multi-Agency Capability Demonstration.
ii.The exercise had discussions on emergent topics namely,
- Climate Change Adaptation and Disaster Risk Reduction
- Practical Solution, Disaster Response in IOR
- A Collaborative Approach, and NGO Collaboration in Disaster Reduction and Response
About the Logo of CHAKRAVAT-2023:
The CHAKRAVAT-2023 logo shows crests and logos of all participating agencies, as well as flags of all nations engaged, indicating that HADR will rely on collaborative and integrated action by all agencies.
EU Approves World’s 1st Green Bond Standards to Avoid Greenwashing
European Union (EU) lawmakers approved new standards for companies issuing “green” bonds to help investors by enabling them to distinguish truly sustainable companies from those engaged in greenwashing or misleading climate-friendly claims. These standards introduce the “European Green Bond” label, representing a first-of-its-kind global initiative.
- Europe has emerged as a global leader in the issuance of green bonds, representing over 50% of the total volume in 2021, issuance is still only 3% to 3.5% of the overall bond market.
- Companies aiming to categorise their bonds as “green” must disclose detailed information regarding the use of bond proceeds. Companies must allocate at least 85% of raised funds to activities aligned with the EU’s sustainable taxonomy.
- In addition to sustainable allocation, companies must demonstrate how these investments contribute to their transition to a net-zero carbon emissions economy.
- The new standards establish a registration system and supervisory framework for external reviewers of European green bonds.
BANKING & FINANCE
Axis Bank and Fibe Partner to Launch India’s First Numberless Credit CardAxis Bank Limited and Social Worth Technologies Private Limited (Fibe) (formerly known as EarlySalary) have partnered to launch India’s first-ever numberless credit card called Fibe Axis Bank Credit Card.
- The card, powered by Rupay, also allows the customer to link this credit card to Unified Payments Interface (UPI).
About the card:
i.The Fibe Axis Bank Credit Card offers financial solutions by targeting tech-savvy of Generation Z (people born between 1996 and 2010) of India.
ii.The card does not have any card number, expiry date, or Card Verification Value (CVV) printed on it.
- This enhances security and privacy of the cardholder by reducing the risk of identity theft and unauthorized access to customer card details.
- The cardholders can access their card details in Fibe mobile application(App).
i.The card is also accepted at all offline stores and offers the tap-and-pay feature for added convenience.
ii.Rewards: The numberless credit card offers industry-best rewards, including a flat 3% cashback on online food delivery, local commute on leading ride-hailing apps, and entertainment on online ticketing platforms. Customers also get a 1% cashback on all online and offline transactions.
iii.The credit card also offers benefits such as
- Access to four domestic airport lounges per quarter
- Fuel surcharge waiver for fuel spends between Rs. 400 and Rs. 5,000
- The added advantage of Axis Dining Delights, Wednesday Delights, End of Season Sales, and RuPay portfolio offerings.
About Axis Bank Limited:
Managing Director(MD) & Chief Executive Officer(CEO) – Amitabh Chaudhry
Headquarters – Mumbai, Maharashtra
Established in – 1993
Tagline – Badhti Ka Naam Zindagi
Co-Founder and Chief Executive Officer(CEO) – Akshay Mehrotra
Headquarters – Pune, Maharashtra
Established in – 2015
Mahindra Last Mile Mobility Gets Rs.300 Cr from IFC as First Installment of Investment
Mahindra Last Mile Mobility (MLMML), a subsidiary of Mahindra & Mahindra Ltd. (M&M) received the first installment of investment of Rs.300 crore from the International Finance Corporation (IFC) for its Electric Vehicle (EV) division. This investment is IFC’s first in an EV maker in India.
- With this transaction, MLMML has ceased to be a wholly owned subsidiary of Mahindra with effect from 9th October 2023, while it continues to be a subsidiary of the company.
- In March 2023, IFC committed to investing Rs. 600 Crore (in one or more installments) at a valuation of up to Rs. 6020 Crore, in a new company housing the last mile mobility division of Mahindra Group.
- This partnership between MLMML and IFC signifies a mutual dedication to sustainable, inclusive, and clean transport solutions.
- MLMML aims to accelerate the green transition in the automotive industry in support of India’s climate targets. It will focus on scaling last-mile passenger and cargo transportation solutions.
- MLMML commenced commercial operations in September 2023, pursuant to the closing of the Asset Transfer Agreement and Business Transfer Agreement with M&M.
Note: IFC is a member of the World Bank Group and is the largest global development institution focused on the private sector in emerging markets.
Federal Bank Extends UPI Services to NRIs to Enhance Seamless Transaction
Kerala based Federal Bank Limited has extended the Unified Payments Interface (UPI) integration for Non-Residential External (NRE) clients through its mobile banking platform, FedMobile, to enhance banking convenience for its Non-Residential Indian (NRI) clients.
- With the integration of UPI, NRI clients can now make payments seamlessly using their NRE accounts in regions where traditional payment methods may be limited.
- The plan has been approved by the National Payments Corporation of India (NPCI) for NRIs from countries including Singapore, Australia, Malaysia, Canada, Hong Kong, Oman, Qatar, the United States of America(USA), Saudi Arabia, the United Arab Emirates(UAE), and the United Kingdom(UK).
- Any NRI customer with an Indian mobile number registered in the Bank’s records can also avail of this facility, further enhancing accessibility.
- With UPI on FedMobile, NRE clients can enjoy a wide range of payment options, including Send Money, Scan N Pay, UPI Collect, and UPI Mandate approvals, including those for Initial Public Offering (IPO) Subscription.
- The feature will also be available on other UPI applications that support global UPI transactions to offer flexibility to the users.
Payment Aggregator Paysharp Gets ISO/IEC 27001:2022 Certification
Chennai(Tamil Nadu)-based Paysharp Private Limited(Paysharp), a Reserve Bank of India (RBI) in-principle licence-approved Payment Aggregator, gets ISO/IEC 27001: 2022 certification, the world’s best-known standard for Information Security Management Systems (ISMS).
- Paysharp, a fintech startup founded in 2019, is focusing on non-card-based payments like Unified Payments Interface (UPI) payments. It offers both Business-to-business (B2B) and Business-to-consumer (B2C) businesses, offering a range of UPI collection solutions.
ISO/IEC 27001 helps organisations become risk-aware and proactively identify and address weaknesses. It promotes a comprehensive approach to information security.
- ISO/IEC 27001 was jointly published by the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC) in 2005 and then revised in 2013 and 2022.
- The ISO/IEC 27001 standard provides companies of any size and from all sectors of activity with guidance for establishing, implementing, maintaining, and continually improving an ISMS.
ECONOMY & BUSINESS
NSO’s 19th PLFS Quarterly Bulletin: UR in urban areas dips to 6.6% in April-June 2023
On October 9, 2023, the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) released its 19th Quarterly Bulletin(QB) of Periodic Labour Force Survey (PLFS) for April-June 2023 (Q1FY24).
- As per it, India’s urban unemployment rate (UR) in Current Weekly Status (CWS) terms for persons aged 15 years and above declined to 6.6% during Q1FY24 from 6.8% during Q4FY23. It was 7.6% in April-June 2022 (Q1FY23).
- The UR for Q1FY24 is lower than the URs observed in the quarters covered in the pre-pandemic period.
A total number of 5,639 FSUs- First Stage Unit (UFS- Urban Frame Survey blocks) have been surveyed during Q1FY24. The number of urban households surveyed was 44,190 and number of persons surveyed was 1,67,916 in urban areas.
Key Figures representing Persons of 15 years and above in Urban Areas in Q1FY24:
i.UR in CWS among male population declined to 5.9% as compared to 7.1 in Q1FY23.
- UR in CWS among females also saw a decline during Q4FY23 to 9.1% from 9.5% in Q1FY23.
ii.At all India level, Labour Force Participation Rate (LFPR) in CWS increased to 48.8% from 47.5% in April-June 2022 (Q1FY23).
- For male, it was around 73.5% during this period.
- For female, LFPR increased from 20.9% to 23.2%.
iii.Worker Population Ratio (WPR- in %) in CWS increased to 45.5% from 43.9% in Q1FY23.
- For male, it increased from 68.3% to 69.2% during this period.
- For female, it increased from 18.9% to 21.1%.
About Periodic Labour Force Survey (PLFS):
National Sample Survey Office (NSSO) launched Periodic Labour Force Survey (PLFS) in April 2017. This serves the following two purposes:
- To estimate the key employment and unemployment indicators (viz. Worker Population Ratio, Labour Force Participation Rate, Unemployment Rate) in the short time interval of three months (quarterly) for the urban areas only in the ‘Current Weekly Status’ (CWS).
- To estimate employment and unemployment indicators in both ‘Usual Status’ (ps+ss) and CWS in both rural and urban areas annually.
Note: In 2019, The NSSO merged with the Central Statistical Office (CSO) to form the National Statistical Office (NSO) to strengthen and streamline the processes and bring in more synergy.
UR: It is defined as the percentage of unemployed persons among the labour force.
LFPR: It is defined as the percentage of persons in labour force (i.e. working or seeking or available for work) in the population.
WPR: It is defined as the percentage of employed persons in the population.
CWS: The activity status determined on the basis of a reference period of last 7 days preceding the date of survey is known as the current weekly status (CWS) of the person.
IMF’s WEO Oct 2023: India’s Growth is projected to be at 6.3% for both 2023 & 2024According to World Economic Outlook (WEO), October 2023 -Navigating Global Divergences‘ the International Monetary Fund (IMF) has raised India’s Gross Domestic Product (GDP) growth forecast to 6.3% in 2023 from July 2023 estimate of 6.1% due to 7.8% growth during the June quarter.
- India will also grow at 6.3% in 2024 while remaining the world’s fastest growing major economy in 2023 and 2024.
i.The IMF’s 2023 growth forecast for India is same as the World Bank’s (WB) projection in its India Development Update(IDU) October 2023.
ii.On the other hand, it is still lower than the 6.5% projection by Reserve Bank of India’s (RBI) Monetary Policy Committee.
Global Growth Projection by IMF:
i.Global economic growth will slow to 3% in 2023 from 3.5% in 2022, a fall by 50 basis points.
- It will be 2.9% in 2024.
- The global growth for 2023 and 2024 is below the historical (2000–19) average of 3.8 percent.
ii.Global inflation will decline steadily to 6.9% in 2023 from 8.7% in 2022
- It will be 5.8% in 2024.
- Core inflation will decrease slowly, and in most cases, it will not reach the target until 2025.
iii.Advanced economies are expected to slow to 1.5% in 2023 from 2.6% in 2022.
- They will grow at 1.4% in 2024.
iv.Emerging market and developing economies are projected to decline to 4% in 2023 and 2024 from 4.1% in 2022.
v.The reasons behind the global slowdown are economic activity lags pre-pandemic levels, particularly in emerging markets, uneven recovery and supply chain disruptions due to Russia’s invasion of Ukraine, and the recent Palestine invasion against Israel risks destabilizing West Asia which is a major global oil production hub.
AWARDS & RECOGNITIONS
360 One Wealth Hurun India Rich List 2023: Mukesh Ambani Tops“360 One Wealth Hurun India Rich List 2023”, the 12th–anniversary edition of Hurun India Rich List released in association with 360 One Wealth, is topped by Mukesh Ambani(66), Chairman of Reliance Industries limited(RIL).
- Mukesh Ambani has regained the title as India’s richest man with a wealth of Rs 8,08,700 crore.
- Gautam Adani(61), Chairman of the Adani Group, is ranked 2nd with a wealth of Rs 474800 crore. In 2022 Adani topped the list, he was ahead of Ambani by a wealth gap of Rs 3 lakh crore.
- With a wealth of Rs 2,78,500 crore, Cyrus Poonawalla (82) retained the third position in the list.
i.It featured 1,319 individuals from 138 different cities with Rs 1,000 crore, a surge by 219 i.e. a rise of 76% over five years. This is the first time that the 1300 mark was broke.
ii.Manish Kejriwal of Kedaara Capital becomes the first Indian private equity fund manager on the list with Rs 3,000 crore net worth.
About Hurun India:
Managing Director and Chief Researcher– Anas Rahman Junaid
Headquarters– Mumbai, Maharashtra
>> Read Full News
IOC & Reliance Foundation Signed Agreement for OVEP in India
The International Olympic Committee (IOC) with the Olympic Museum along with Reliance Foundation signed a new cooperation agreement to expand and promote the Olympic Values Education Programme (OVEP) in India.
- The agreement was signed by IOC President Thomas Bach and Nita Ambani, IOC Member in India and Reliance Foundation Founder Chairperson, during a visit to the Reliance Foundation Young Champs (RFYC) football academy in Mumbai, Maharashtra.
About the partnership:
i.Through the agreement, Reliance Foundation have joined as an OVEP implementation partner.
ii.The programme will be first implemented in the Mumbai and later it will expand to rest of Maharashtra.
iii.Through this partnership, both the organistion uses sports as a medium to inculcate values such as respect, friendship, fair play, and solidarity young people.
Three key areas:
i.Grade-specific activities in select schools: These activities will promote Olympism and the Olympic values, and help them develop positive behaviors.
ii.Sessions with athletes: Athletes will interact with students virtually and in person to promote physical activity and discuss the Olympic values.
iii.Interactive games, quizzes, and workshops: These sporting and educational events will raise awareness of the Olympic values.
i.The Olympic Values Education Programme (OVEP) is a series of learning resources that have been created by the International Olympic Committee.
- The program aims to increase access to sport and bring the health and societal benefits of physical activity to communities across the globe.
ii.OVEP is an initiative led by the Olympic Museum that advances the IOC’s Olympism365 strategy.
iii.OVEP was launched in India in 2022 in partnership with the Abhinav Bindra Foundation in Odisha.
- It is one of the first major IOC projects to be implemented in India.
iv.The goal of OVEP in India is to promote the Olympic values of excellence, respect, and friendship among young people.
- OVEP brings both sports and education together.
v.OVEP in India is currently being implemented in over 350 schools in Odisha and Assam, and it has reached over 250,000 students.
About Reliance Foundation:
Founder & Chairperson – Nita Ambani
Headquarters – Navi Mumbai, Maharashtra
Established in 2010
About International Olympic Committee (IOC):
The International Olympic Committee is the guardian of the Olympic Games and the leader of the Olympic Movement.
President – Thomas Bach
Headquarters – Lausanne, Switzerland
Established in – 1894
Verstappen wins Qatar GP 2023 to win 3rd Formula1 World ChampionshipMax Verstappen, the Belgian- Dutch driver of Red Bull added his name to the list of Formula One (F1) triple champions.
- Max Verstappen achieved this feat by securing 2nd place in Qatar Grand Prix 2023 sprint race, Australian driver of McLaren Oscar Piastri won the Sprint race.
- Later on, Max Verstappen won the 2023 Qatar Grand Prix main race event, followed by Australian driver of McLaren, Oscar Piastri and British driver of McLaren, Lando Norris.
- With this win Max has won the consecutive F1 World Championship in (2023, 2022 & 2021).
F1 Sprint race is a 100km dash to the chequered flag. There are no pit stops (unless you’re unfortunate enough to need to dive in for repairs). It’s like a Twenty20 cricket match, where the emphasis is on attacking.
Elite F1 Champions:
i.Max becomes a part of the three time Champions that includes Brazilians Ayrton Senna and Nelson Piquet, Austrian Niki Lauda, Britain’s Jackie Stewart, and Australian Jack Brabham.
ii.Sebastian Vettel (Germany) and Alain Prost (France) (four each), Juan Manuel Fangio (Argentina) (five), Michael Schumacher (Germany) and Lewis Hamilton (Britain – United Kingdom) (seven each) have won more than three championship since the championship started in 1950.
Records by Verstappen
i.Verstappen has now won on 24 different circuits in his F1 career, passing Michael Schumacher’s total and trailing only Lewis Hamilton’s (31).
ii.Verstappen now leads the drivers’ championship by over 200 points. The largest winning margin ever at the end of a season is 155 points by Vettel in 2013.
iii.Verstappen broke Sebastian Vettel’s record for the most laps led in a single season during Qatar GP race (739), with five races still remaining in 2023
iv.Max Verstappen, has won 14 of 17 grand prix(GP) in this year including 11 in a row.
About 2023 Qatar Grand Prix
- The 2023 Qatar Grand Prix, officially known as the Formula 1 Qatar Airways Qatar Grand Prix 2023 held on 8th October 2023.
- It took place at the Lusail International Circuit in Lusail, Qatar.
- It was the 17th round of the 2023 Formula One World Championship.
About Formula One Championship Award
A F1 World Champion is a racing driver which has been designated such a title by the governing body of Formula One – the Fédération Internationale de l’Automobile (FIA).
The winner of the FIA Formula One World Championship (WDC) is the most successful Formula One driver over a particular season.
- It is determined by a points system based on individual Grand Prix results.
- This year 2023 season will consist of 23 Grand Prix races.
Jannik Sinner Wins China Open 2023 Men’s Singles TitleJannik Sinner of Italy won the China Open 2023 men’s single title against Daniil Medvedev (Russia) for the first time. It was held at the Beijing Olympic Green Tennis Center, Beijing, China from September 28 – October 04 2023.
- Sinner defeated World No. 2 and top seed Carlos Alcaraz (Spain) in the semi-finals.
- It was the 22nd edition of the China Open (1993 to 2023).
Iga Swiatek Wins China Open 2023 Women’s Singles Title
Iga Swiatek (Poland) won the China Open 2023 women’s single title, beating her opponent Liudmila Samsonova (Russia).
- Iga Swiatek won her fifth title of the season 2023 with a 6-2 6-2 victory against Liudmila Samsonova.
i.It is the first China Open since 2019 after China lifted travel restrictions that formed part of a longtime policy to prevent the spread of Covid-19.
ii.It was also the first time the women’s tournament had taken place since the WTA announced the end of an embargo imposed on China following sexual assault allegations by former player Peng Shuai.
Winners at China Open 2023:
Men’s Doubles –
Ivan Dodig (Croatia) and Austin Krajicek (United States) cinched their fifth tour-level title of the season (2023) at the China Open 2023 by defeating Wesley Koolhof (Netherlands) and Neal Skupski (United Kingdom).
Marie Bouzková (Czechia) and Sara Sorribes Tormo (Spain) defeated Chan Hao-ching (Taiwan) and Giuliana Olmos (Mexico) in the final
About China Open
It is an annual men’s and women’s professional tennis tournament held in Beijing, China.
Founded – 1993
Surface – Hard/Outdoor (Since 2004-present)
The women’s China Open is a Women’s Tennis Association (WTA) 1000 event on the WTA Tour
The men’s China Open is an Association of Tennis Professionals (ATP) Tour 500 event on the ATP Tour
Novak Djokovic is the only player to have won the title six times.
International Day of the Girl Child 2023- October 11 The United Nations (UN) International Day of the Girl Child(IDGC) is annually observed across the globe on 11 October to focus attention on the need to address the challenges girls face and to promote girls’ empowerment and the fulfillment of their human rights.
The theme of IDGC 2023 observed on 11th October 2023 is “Invest in Girls’ Rights: Our Leadership, Our Well-being”.
- The theme emphasises the need for the global community to go beyond making commitments and invest boldly in the action needed to empower girls, safeguard their rights, and enhance their well-being.
i.On December 19, 2011, the United Nations General Assembly (UNGA) adopted a resolution A/RES/66/170 and declared October 11 of every year as the International Day of the Girl Child.
ii.The first International Day of the Girl Child was observed on 11 October 2012.
>> Read Full News
ASDM of Assam Govt & Indian Army signed MoU for upskilling of ex-servicemen Assam Skill Development Mission (ASDM) under the Skill, Employment & Entrepreneurship Department, Government of Assam and the Indian Army (Headquarters 51 Sub Area) have signed a Memorandum of Understanding(MoU) for upskilling ex-servicemen and their dependents.
- This MoU between the Indian Army and ASDM will empower ex-servicemen and their dependents to get remunerative employment and self-employment.
The MoU was signed in the presence of Himanta Biswa Sarma, Chief Minister (CM) of Assam and general officer commanding-in-chief (GOC-in-C). of Eastern Command, Lieutenant General Rana Pratap Kalita.
Note: ASDM started in 2017 with an aim to build capacity among 1.50 lakhs unemployed youths in a year. It is registered under Society Act in 2015.
CM unveiled statue of Lachit Borphukan & Swahid Smarak:
Assam CM also unveiled a statue of Lachit Borphukan, a medieval-era Ahom army commander, and a Swahid Smarak (Martyr’s Column) at Bir Lachit Borphukan Park inside Narengi Military Station in Guwahati, Assam.
- These 2 structures were conceptualised by Major General (Retd.) R.K. Jha, former General Officer Commanding of 51 Sub Area of the Indian Army in Narengi.
- These structures were funded by the government of Assam.
CM also announced that a 150-feet-tall statue of Lachit will be installed at Bir Lachit Barphukan Maidam in Hollongapar, Jorhat, Assam.
Chief Minister – Himanta Biswa Sarma
Governor – Gulab Chand Kataria
Festival – Magh Bihu, Me-Dum-Me-Phi
Statdium – Dr. Bhupen Hazarika Cricket Stadium (Assam Cricket Association Stadium), Nehru Stadium
About Indian Army:
Chief of the Army Staff – General Manoj Pande
Headquarters – New Delhi, Delhi
Established – 1895
TN Govt Announces a New Samadhan Scheme for Traders to Settle Commercial Tax Dues of Rs. 25,000 Crore
Tamil Nadu (TN) government announced a new Tax Arrears Conciliation Scheme (Samadhan scheme) with waivers and concessions aimed at facilitating the settlement of the pending tax dues of about Rs.25,000 crore, of which a majority are under the erstwhile Tamil Nadu Value Added Tax (VAT) and other legacy tax legislations.
- This initiative aims to address and resolve long-standing issues related to pending tax arrears, disputes, and appeals that have persisted between traders and the State Commercial Tax Department.
- The scheme will be in force between October 16, 2023, and February 15, 2024.
About Tamil Nadu:
Chief Minister– Muthuvel Karunanidhi Stalin
Governor– Ravindra Narayana Ravi
Airports– Coimbatore International Airport and Chennai International Airport
>> Read Full News
Current Affairs Today (AffairsCloud Today)
|Current Affairs 12 October 2023|
|MoC&F launched web portal with Statistical Data of Chemical Sector|
|Indian Navy Conducts Annual Joint HADR Exercise CHAKRAVAT 2023|
|EU Approves World’s 1st Green Bond Standards to Avoid Greenwashing|
|Axis Bank and Fibe Partner to Launch India’s First Numberless Credit Card|
|Mahindra Last Mile Mobility Gets Rs.300 Cr from IFC as First Installment of Investment|
|Federal Bank Extends UPI Services to NRIs to Enhance Seamless Transaction|
|Payment Aggregator Paysharp Gets ISO/IEC 27001:2022 Certification|
|Unemployment rate dips to 6.6% in Q1FY24: 19th Quarterly PLFS by NSO|
|IMF’s WEO Oct 2023: India’s Growth is projected to be at 6.3% for both 2023 & 2024|
|360 One Wealth Hurun India Rich List 2023: Mukesh Ambani Tops|
|IOC & Reliance Foundation Signed Agreement for OVEP in India|
|Verstappen wins Qatar GP 2023 to win 3rd Formula1 World Championship|
|Jannik Sinner Wins China Open 2023 Men’s Singles Title|
|International Day of the Girl Child 2023- October 11|
|ASDM of Assam Govt & Indian Army signed MoU for upskilling of ex-servicemen|
|TN Govt Announces a New Samadhan Scheme for Traders to Settle Commercial Tax Dues of Rs. 25,000 Crore|
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