Banking, Financial and Economic Awareness

Half Yearly (Jan - June 2021)
2021 Book

Banking Awareness

Topic: Taxation

1. Highest ever GST collection reported in March.

  • Highest ever GST collection has been reported in March.
  • GST collection stood at Rs. 1.23-lakh crore since the introduction of GST regime in July 2017.
  • GST revenue for March is 27% higher than GST revenue in March last year.
  • GST revenues improved steadily through 2020-21. It increased from negative 41% in the first quarter to negative 8% in the second quarter.
  • It reached 8% and 14% in third and fourth quarters in comparison to the same time last year.
  • All states and UTs, excluding two Union Territories (Daman & Diu and Andaman & Nicobar Islands), have reported growth in tax collection.

States

Growth in GDP collection

Maharashtra

14%

Gujarat

20%

Karnataka

11%

 Tamil Nadu

23%

Andhra Pradesh

5%

Topic: Miscellaneous

2. Government further extends deadline for thermal electricity generators to install flue gas desulphurization technology by up to three years.

  • Government further extends the deadline for thermal electricity generators to install flue gas desulphurization technology by up to three years.
  • Current deadline for plants to meet SO2 emission standards was December 2022. New order extends the deadline to December 2024 for the plants not located in densely populated or heavily polluted areas.
  • The plants due to retire soon will get time till December 2025, even if they are situated in heavily-polluted areas.
  • Ministry of Environment, Forests, and Climate Change issued the order to extend deadlines on April 1.

Topic: Infrastructure and Energy

3. APSEZ is the only bidder for a tender by waterways authority to privatize multi-modal river terminal at Varanasi.

  • Adani Ports and Special Economic Zone Ltd (APSEZ) is the only bidder for a tender by waterways authority to privatize a multi-modal river terminal at Varanasi.    
  • APSEZ is one among four bidders, which filed qualification documents for privatizing the multi-modal terminal at Haldia. 
  • Hindustan Infralog Pvt Ltd, Orissa Stevedores Ltd and IRC Natural Resource Pvt Ltd are the other three bidders.
  • Inland Waterways Authority of India (IWAI) developed three multi-modal terminals and it is now seeking interests from bidders for running three terminals.
  • Varanasi and Haldia multi-modal terminals are being privatised on the Equip, Operate and Transfer (EOT) model.  
  • The contract at Varanasi will have a tenure of 10 years, which can be extended by two years.

Topic: Miscellaneous

4. India gives $3,00,000 to UN Women.

  • India has given $3,00,000 to UN women and the Assistant Secretary-General and Deputy Executive Director of UN Women Anita Bhatia thanked India for it.
  • United Nations Entity for Gender Equality and the Empowerment of Women is also called as UN Women.
  • UN Women was founded in July 2010. It became operational in January 2011. It is headquartered in New York.

Topic: Indian Economy

5. Government withdraws rate cut order on small savings schemes.

  • The Government withdraws the decision to reduce interest rates on PPF and other small savings schemes.
  • Now, the rate on the small saving scheme will remain the same as they were during the January-March quarter.
  • According to the new notification, Public Provident Fund Scheme and National Savings Certificate will offer interest of 7.1% and 6.8% for the next three months.
  • Government usually revises interest rates on small saving instruments every quarter.
  • Earlier, the government had slashed rates of small savings schemes for the first quarter of 2021-22.

Topic: Infrastructure and Energy

6. Bharti Airtel commissions a 14 MWp captive solar power plant for its data centres in UP.

  • Bharti Airtel commissioned a 14 MWp (Megawatt peak) captive solar power plant for its data centers in Uttar Pradesh.
  • This is first of two solar plants being set up by Bharati Airtel in collaboration with AMP Energy.
  • It is located in Tilhar (Shahajahanpur, UP).  Second plant is located at Begampur.

 

0
COMMENTS

Comments

Share Blog