Indian government Revises NEIIP, 2007
- The govt has revised the North East Industrial and Investment Promotion Policy. All payments will me made through Direct Benefit Transfer
- The subsidy for the new industrial units going for substantial expansion will be limited to Rs 5cr per industrial unit operating in manufacturing sector & Rs 3cr per industrial unit operating in services sector.
Less tax for small traders on digital transactions
- In a bid to promote less cash economy, the government has announced new measures for small traders and businesses with a turnover of up to Rs. 2 crore, if they accept payments through banking and digital means.
- Currently the profit of such entities is deemed to be at 8 percent of the total turnover, but if they accept payments through digital means their profit will be considered only at 6 percent, hence giving them additional benefit of 2 percent.
- The current provisions will continue for the businesses of total turnover or gross receipts received in cash.
First-ever Indian Institute of Skills foundation laid
- Prime Minister Narendra Modi will lay the foundation of the first-ever Indian Institute of Skills of the country at Kanpur in Uttar Pradesh.
- The Prime Minister will also inaugurate Kaushal Pradarshini or skill exhibition for the youth of Uttar Pradesh.
- PM Modi would also launch an array of skill development initiatives for the youths, including Pradhan Mantri Kaushal Kendras and Drivers' Training Institutes.
Cabinet Approves Port Authorities Bill
- The govt has passed approved the Major Port Authorities Bill, 2016 replacing the Major Port Trusts Act,1963, to promote trade & commerce& decentralise decision making.
- One of the salient features of the bill is the number of sections has been reduced to 65 from 134 by eliminating overlapping and obsolete ones.
India Sign Grant Agreement with the IBRD
- India has signed a Grant Agreement of USD 5.19 million with International Bank for Reconstruction and Development (IBRD).
- The agreement was signed for additional Financing for Financing Energy Efficiency at MSMEs Project- Programmatic Framework for Energy Efficiency.
- The agreement signed was a part of the parent project – India: Financing Energy Efficiency at MSME Project (FEEMP).
Trade Deficit Widens in November
- The country’s trade deficit widened to $13 billion in November, highest since $13.08 billion in July 2015, and sharply wider than the $10.41 billion gap in October.
- The trade deficit in November 2015 was $10.47 billion.
- For the third consecutive month, exports recorded a positive growth of 2.29 per cent year-on-year to $20 billion.
Vasundhara Launches Annapurna Rasois
- Moving on the steps of former CM Jayalaitha, Rajasthan CM Vasundhara Raje has launched a subsidised meal scheme in the state - .Annapurna Rasoi Yojana.
- The tagline for the scheme, named Annapurna Rasoi Yojana, is: “Sabke liye bhojan, sabke liye sammaan.
- The scheme aims to benefit labourers, rickshaw pullers, auto-rickshaw drivers, students, working women, senior citizens & others.
NITI Aayog Announces Launch of Schemes
- In order to promote digital payments post demonetization, NITI Aayog has the launch of two schemes, Lucky Grahak Yojna & Digi Dhan Vyapar Yojna.
- Lucky Grahak Yojana :This scheme is for the consumers who will conduct daily transaction using electronic medium.
- Digi-Dhan Vyapar Yojana:This scheme is applicable for those merchants who make digital transaction at merchant establishments.
Vanjeevan campaign launched for Tribal Livelihood
- Union Ministry of Tribal Affairs in collaboration with UNDP & National Scheduled Tribes Finance & Development Corporation will launch “Vanjeevan” the National Resource Centre for Tribal Livelihood at Bhubaneswar, Odisha.
- NRC website and e-knowledge platform will also be unveiled.
Uttar Pradesh Chief Minister Akhilesh Yadav approved the recommendations of the seventh pay commission
- Chief Minister of Uttar Pradesh - Akhilesh Yadav on 13 December 2016 approved the recommendations of the seventh pay commission.
- As per new salary structure, entry salary that is of the lowest rung will be around Rs 18,000 and pay for highest office of Chief second will be around Rs 2.25 lakh.
- Through this move, around 24 lakh employees and pensioners will be benefited.
