By: D.K Chaudhary
1. Goods and Services Tax Day: 1 July
i. The Government of India has announced that 1st of July shall be commemorated as ‘GST Day’. Union Minister for Railways, Coal, Finance & Corporate Affairs Mr Piyush Goyal presided over as the Chief Guest of the event and Minister of State for Finance.
ii. The government of India is celebrating the 1st Anniversary of the Goods and Services Tax (GST) coming into force on 1st July 2017.
iii. Four Laws namely CGST Act, UTGST Act, IGST Act and GST (Compensation to States) Act were passed by the Parliament and since been notified on 12th April 2017. All the other States (except Jammu & Kashmir) and Union territories with legislature have passed their respective SGST Acts.
2. Maharashtra Government Announces ‘Kanya Van Samruddhi Yojana’
i. The Maharashtra government announced a new scheme called ‘Kanya Van Samruddhi Yojana’, wherein farmers families where girl children are born will be given saplings for plantation.
ii. The scheme is aimed at empowering women and promoting tree plantation. The scheme was approved in the cabinet meeting chaired by Chief Minister Devendra Fadnavis.
ii. The scheme is aimed at empowering women and promoting tree plantation. The scheme was approved in the cabinet meeting chaired by Chief Minister Devendra Fadnavis.
- Maharashtra CM- Devendra Fadnavis, Governor- C Vidyasagar Rao.
3. Final Nepal-India EPG Meeting Concludes
i. The ninth and final meeting of Eminent Persons Group (EPG) on Nepal-India Relations concluded in Kathmandu, Nepal. The Representatives from Nepal and India deliberated upon various bilateral issues including 1950 Peace and Friendship treaty, trade, transit and border during the two-day meeting.
ii. The EPG is a joint mechanism consisting of experts and intellectuals from India and Nepal. It was set up in February 2016 to make suggestions for updating all existing bilateral treaties and agreements between both the countries.
ii. The EPG is a joint mechanism consisting of experts and intellectuals from India and Nepal. It was set up in February 2016 to make suggestions for updating all existing bilateral treaties and agreements between both the countries.
- Khadga Prasad Sharma Oli is the current Prime Minister of Nepal.
- Bidhya Devi Bhandari is the current President of Nepal and commander in chief of Nepalese Army.
- The Nepalese Rupee is the currency of Nepal.
- Kathmandu is Capital of Nepal.
4. Asia’s 1st Patent Arbitration Centre To Open In Tokyo
i. Asia’s first arbitration centre specialised in intellectual property is slated to open in Tokyo in September 2018 to resolve the growing number of disputes in the region.
ii. The International Arbitration Centre in Tokyo (IACT) is set to have around a dozen arbitrators from around the world, who would try to resolve disputes within a period of one year.
ii. The International Arbitration Centre in Tokyo (IACT) is set to have around a dozen arbitrators from around the world, who would try to resolve disputes within a period of one year.
- Japan Capital- Tokyo, Currency- Japanese yen, Prime Minister- Shinzo Abe.
5. Nigeria Replaces India to Become World’s Largest Poor Population: Brookings Report
i. With the persistent decline in poverty, India is no longer a nation having the largest number of poor people in the world, according to a study published by the US-based think tank, Brookings.
ii. According to the study, Nigeria has already overtaken India as the country with the largest number of extreme poor in early 2018, and the Democratic Republic of the Congo could soon take over the number 2 spot.
iii. The study, titled ‘The start of a new poverty narrative’ and published in the Brookings’ blog, is authored by Homi Kharas, Kristofer Hamel and Martin Hofer.
ii. According to the study, Nigeria has already overtaken India as the country with the largest number of extreme poor in early 2018, and the Democratic Republic of the Congo could soon take over the number 2 spot.
iii. The study, titled ‘The start of a new poverty narrative’ and published in the Brookings’ blog, is authored by Homi Kharas, Kristofer Hamel and Martin Hofer.
