Professional Documents
Culture Documents
insightsonindia.com /2017/06/29/insights-daily-current-affairs-29-june-2017/
InsightsIAS 29/06/2017
Paper 3 Topic: Indian Economy and issues relating to planning, mobilization of resources, growth,
development and employment.
The Central Board of Direct Taxes (CBDT) has entered into Five Unilateral Advance Pricing Agreement with Indian
taxpayers. A Bilateral Advance Pricing Agreement involving United Kingdom has also been signed.
The APAs signed pertain to healthcare, information technology and gaming/animation (media) sectors of the
economy.
Further, the taxpayer has the option to rollback the APA for
four preceding years, as a result of which, tax certainty for a
total period of nine years is provided. Since its inception, the
APA scheme has attracted tremendous interest among Multi
National Enterprises (MNEs). An APA can be unilateral, bilateral,
or multilateral.
Certainty with respect to tax outcome of the tax payers international transactions, by agreeing in advance the
arms length pricing or pricing methodology (ies) to be applied to the tax payers international transactions
covered by the APA.
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Removal of an audit threat (minimize rigours of audit), and deliverance of a particular tax outcome based on
the terms of the agreement.
Substantial reduction of compliance costs over the term of the APA.
For tax authorities, an APA reduces cost of administration and also frees scarce resources.
Sources: pib.
Paper 2 Topic: Issues relating to development and management of Social Sector/Services relating to
Health, Education, Human Resources.
The SSA event is a unique initiative to address the major issues being faced by public transport drivers, with almost
all of them being users of CNG.
It is a two month long mega campaign focusing on providing preventive healthcare to the auto, taxi and bus
drivers of the region. It will provide free health checkup which includes blood test, sugar test, eye test.
SSA is an initiative of Indraprastha Gas Limited (IGL).
Agricultural and Processed Foods Export Development Agency ( APEDA) has refuted rumours about plastic rice,
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attributing the videos on social media showing bouncing rice balls to a natural property of rice.
The Agricultural and Processed Food Products Export Development Authority (APEDA) was established by the
Government of India under the Agricultural and Processed Food Products Export Development Authority Act 1985.
The Authority replaced the Processed Food Export Promotion Council (PFEPC).
APEDA is mandated with the responsibility of export promotion and development of the following scheduled
products:
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Administrative set up:
Paper 3 Topic: Awareness in the fields of IT, Space, Computers, robotics, nano-technology, bio-
technology and issues relating to intellectual property rights.
GSAT 17
With French rocket Ariane-5 successfully launching the 3,477-kg satellite from French Guiana, India has added
GSAT-17 to its existing fleet of 17 communication satellites. Besides GSAT-17, Ariance-5 also put into space Hellas
Sat 3-Inmarsat S EAN, a condosat for Inmarsat and Hellas Sat.
Key facts:
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Paper 3 Topic: Security challenges and their management in border areas; linkages of organized
crime with terrorism.
What is NEPOL?
It is a proposed police organization by the North eastern states including West Bengal in the lines of International
Police Organization(INTERPOL). It will facilitate cooperation between the states of the region in tackling insurgency,
cross border crime and smuggling.
Sources: et.
Niti Aayog has suggested creation of regulators for coal as well as oil and gas.
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Need for regulators:
Coal and upstream petroleum sectors have lacked independent, statutory regulators. Due to several reasons,
including strong presence of PSUs and limited number of private operators, it was so far not found useful to place
the latter in position. But, now with increased private activity, the time is appropriate.
Indian energy market is not uniformly developed. And due to the large inherent complexities present in different fuel
sources, it is pertinent that there ought to be sectoral regulators.
Paper 2 Topic: Government policies and interventions for development in various sectors and issues
arising out of their design and implementation.
In what could mark a paradigm shift in the countrys hydrocarbon exploration policy, the government has launched
the National Data Repository (NDR) along with the Open Acreage Licensing Policy (OALP).
About HELP:
The new policy aims to provide Investors a ready access to huge amount of seismic data available in National
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Data Repository (NDR), flexibility to carve out exploration acreages through an open acreage licensing
process and increased operational autonomy through a new revenue sharing model.
The National Data Repository (NDR) manifested through an open acreage licensing (OAL) process will be a
key facilitator by providing seamless access to Indias entire E&P data process through a digital medium to
all investors with the objective of harnessing the potential of Indias large basinal area.
Single, uniform license for extraction and exploration for all types of hydrocarbon prospects.
Open acreage licensing (OAL) which will permit investors to carve out interested blocks and submit
Expression of Interest (EoI), which will be subsequently given through bi-annual bid rounds.
Simple and easy to administer Revenue Sharing Model.
Full marketing freedom and free pricing for crude oil and natural gas.
Exploration allowed during entire contract period.
Zero royalty rates for deep water & ultra-deep water blocks for first 7 years.
Equal weightage to work program and fiscal share.
No oil cess.
Custom duty exemption.
NIFT Chairperson:
The Union Government has appointed Shri Rajesh V. Shah as Chairperson on the Board of Governors of the
National Institute of Fashion Technology as per the provisions of the National Institute of Fashion Technology Act,
2006.
National Institute of Fashion Technology (NIFT) is a fashion institute in India. It was set up in 1986 under the
aegis of the Ministry of Textiles, Government of India.
NIFT was granted statutory status in 2006, empowering it to award degrees and other academic distinctions.
QueSST:
NASA has completed the preliminary design review of its Quiet Supersonic Transport or QueSST aircraft design.
QueSST is the initial design stage of the agencys planned Low Boom Flight Demonstration (LBFD) experimental
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airplane, otherwise known as an X-plane.
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