Union Cabinet has recently given its approval for the creation of Anti-Profiteering Authority under GST.
It is mandated to ensure that the benefits of the reduction in GST rates on goods or services are passed on to the ultimate consumers by way of a reduction in prices.
It will be headed by a senior officer of the level of Secretary to the GoI with four Technical Members from the Centre and/or the States.
The "anti-profiteering" measures enshrined in the GST law provide an institutional mechanism which comprises the NAA, a Standing Committee, Screening Committees in every State and the Directorate General of Safeguards in the Central Board of Excise & Customs.
Bharat 22
The government has recently launched a second exchange-traded fund (ETF) known as the Bharat-22.
It will comprise stocks of 22 blue-chip public sector units, State-owned banks and Specified Undertakings of the Unit Trust of India (SUUTI).
It will help the government to sell equity stakes in state-run firms in order to meet its objective to raise Rs 72,500 cr through disinvestment in the current financial year 2017-18.
Earlier the government has launched Central Public Sector Undertakings (CPSE) ETF, which had stocks of many energy companies.
Bharat 22 is a well diversified ETF spanning six sectors such as basic materials, energy, finance, FMCG, industrials and utilities.
While CPSE ETF has only state-run companies as its constituents, Bharat-22 will give the government a shot at selling stakes in some of the private sector blue-chip companies as well.
The Kerala government has decided to provide job quota for the economically backward among the Forward Communities (FCs) in the State.
10% reservation will be rolled out in appointments to the boards of five public-run bodies or Devaswom boards, which administer about 3,000 Hindu temples.
It would not require a constitutional amendment.
The government has increased the quota for members of Other Backward Castes (OBC) from 14% to 17% and Scheduled Caste-Scheduled Tribe (SC-ST) communities from 10% to 12%.
The State has held that it would exert pressure on the Centre for a constitutional amendment to implement the quota in other sectors.
Conference on UN SDG
The first major international conference on the U.N. Sustainable Development Goals (SDGs) was organised in Mysuru.
The conference will deliberate on sustaining knowledge partnerships on SDGs, building sustainable cities, developing self sufficient economies and addressing sustainability challenges.
It is organized the Sustainability Platform in collaboration with Asia Cooperation Dialogue University Network, SIAM University, Thailand, St. Philomena's College and Transdisciplinary University, Bengaluru.
Earth Sized Planet
Astronomers at the La Silla Observatory in Chile have discovered an Earth-sized planet with ‘mild’ climate.
The parent star is located just 11 light years away, which may be the closest known comfortable abode for possible life.
The low-mass exoplanet orbits the red dwarf star Ross 128 every 9.9 days.
Credit Linked Subsidy Scheme
Ministry of Housing and Urban Affairs is implementing an interest subsidy scheme called Credit Linked Subsidy Scheme (CLSS) under Pradhan Mantri Awas Yojana (URBAN)-Housing for All.
It aims to promote affordable housing for weaker section through this scheme.
It is for purchase/construction/extension/improvement of house to cater Economical Weaker Section (EWS)/Lower Income Group (LIG)/Middle Income Group (MIG).
Credit Linked Subsidy – It is an interest subsidy available to a loan amounts upto Rs 6 lakhs at the rate of 6.5 % for tenure of 20 years or during tenure of loan whichever is lower.
HUDCO and NHB have been identified as Central Nodal Agencies to channelize this subsidy to the lending institutions.
Union cabinet has recently increased the carpet area of houses eligible for interest subsidy.
SAMPRITI
It is Indo-Bangladesh Training Exercise aimed to strengthen and broaden the aspects of interoperability and cooperation between the Indian and Bangladesh Armies.
The seventh such exercise in the SAMPRITI series is being organized in Mizoram this year.
