Union Cabinet has cleared the black money bill to curb the menace of black money in the country. Decision in this regard was taken at the cabinet meeting in New Delhi.
Union Government is seeking to introduce this bill the current budget session of Parliament.
Union Cabinet also gave its nod for signing of an agreement with the US on the Foreign Account Tax Compliance Act (FATCA). The agreement will enable India to acquire information on big foreign transactions and indirectly curb black money stashing.
Apart from these decisions, Union Cabinet also approved to release of 33,000 crore rupees in tranches to states and Union Territories (UTs). These tranches will provide compensation to states and UTs for revenue loss on account of phasing out of Centre Sales Tax, CST for the three financial years up to 2012-2013.
Kavinder Gupta on 18 March 2015 was unanimously elected as Speaker of the 12th Assembly of Jammu and Kashmir (J&K).
The motion to elect the speaker of assembly was moved by State Minister for Law, Justice and Parliamentary Affairs Basharat Bukari and seconded by Deputy Chief Minister Nirmal Kumar Singh. Gupta was elected with voice vote as there was no one from the Opposition going against the motion. He will replace the Protem Speaker Muhammad Shafi of National Conference.
Kavinder Gupta is Bharatiya Janata Party (BJP) legislator from Gandhinagar constituency in Jammu district. He is the first time MLA to state assembly. In December 2014, state assembly election Gupta had defeated senior Congress leader Raman Bhalla. Earlier he also had served as Mayor of Jammu city.
This decision will pave the way for resumption of iron ore extraction in the state especially in 72 out of the total 89 approved mining leases. MoEF decision to lift the ban on mining was taken as per the directives of the Supreme Court (SC).
With revocation of mining suspension, state government now will decide the ore extraction limits for individual miners so that mining output does not exceed the cap of 20 million tonnes (mt) set by SC.
Indian Space Research Organisation (ISRO) is planning to collaborate with other space agencies on inter-planetary explorations. It was announced by Minister of State (MoS) in the Prime Minister’s Office Jitendra Singh in the Lok Sabha.
Presently ISRO is having talks with space agencies of the United States of America, Russia and France to collaborate for inter-planetary explorations.
From this collaboration, India will acquire the knowledge to minimize the cost of launching complex missions and enhance the technological capabilities in spacecraft design. While, the expertise gained through such collaborations will help India improve its capabilities of earth observation and satellite communication.
Three nations from European Union (EU) France, Germany and Italy have agreed to join the China-backed Asian Infrastructure Investment Bank (AIIB) after the United Kingdom (UK) decided to join the bank. If these western nations join the bank, the total number of the bank’s member states including India will go up to 30.
It should be noted that UK was the first Western country to join the bank and also first nation to disregard the reservations expressed by the United States (US) which had raised concerns over banks transparency.
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