BLOGS
GST collection in September reached Rs 95,480 crore
Goods and services tax (GST) revenue collection in September reached Rs 95,480 crore, the highest of this fiscal year so far, indicating that economic activity is gathering momentum alongside the gradual relaxation of restrictions blocks needed for the COVID-19 pandemic.
- Indirect tax collections in September were more than 10% higher than in August, 4% higher than GST collections the same month a year ago, and marked only the second time that the mark of Rs 90,000 crore was exceeded this fiscal year.
- GST collections slipped after January 2020, when they hit nearly 1.11 lakh crore March 2020, after which the national lockdown was imposed, recorded GST inflows of Rs. 97,597 crore.
- April and May were the hardest hit, with just over Rs 32 billion and Rs 62 billion respectively.
- “Gross GST revenues collected in September 2020 are Rs 95,480 crore, of which central GST is Rs 17,741 crore, state GST is Rs 23,131 crore, integrated GST is Rs 47,484 crore [including Rs. 22,442 crore “collected on importation of goods] and the tax is Rs 7,124 crore [including Rs. 788 crore collected on importation of goods]”, said the Finance Ministry in a press release Thursday.
- Economists have been cautious, reading the healthier numbers as a sign of a lasting rebound from the country’s sharp 23.9% contraction in the country’s gross domestic product in the first quarter of 2020-2021.
- The chief economist of rating agency ICRA, Aditi Nayar, said the increase in GST collections was a relief, although it was likely due to “a combination of stifled demand and restocking,” and therefore its durability remains uncertain “.
- “Overall, the high-frequency data available for September 2020 confirms that a fragmented recovery is underway. We continue to expect the contraction in GDP to decline significantly to 12.4% in the second quarter, ” Nayar said.
- “With a significant portion of the economy picking up operations and international trade, as well as picking up the pace, collections have shown decent growth,” said Abhishek Jain, EY tax partner.
- Income from imports of goods was 102% and income from domestic transactions that include the import of services represented 105% of income from these sources in September 2019.
- Among the largest states, Rajasthan and Tamil Nadu recorded the highest growth in GST receipts with 17% and 15% respectively compared to September 2019.
- Andhra Pradesh saw growth of 8%, Gujarat 6 %, while Maharashtra and Uttar Pradesh recorded stagnation The trend and collections in Karnataka are down 5% from a year ago.
Google took down Paytm from its Play Store
On Friday, September 18, Google removed the payment app Paytm from its Play Store, citing violations of its App Store’s gaming policies. Google’s action came a day before the start of the Indian Premier League (IPL) T20 tournament as part of the company’s offensive against sports betting promotion apps.
- In particular, Paytm is one of the biggest competitors to Google Pay in the Indian digital payments space.
- Any Android user who wants to install or update the Paytm app will no longer be able to do so.
- However, those who have already installed the application on their devices will be able to continue using it normally.
- Also, since only Google removed the app, iPhone users (using the iOS version of the app) will not be affected.
- Although the general Paytm application has been removed, other applications developed by the company such as Paytm Money, Paytm Mall, etc. are still available on the Play Store.
“The Paytm app for Android is temporarily unavailable on the Google Play Store for new downloads or updates. It will be back very soon. All your money is safe and you can continue to enjoy your Paytm app as usual.”
In a tweet, Paytm said
why did Google remove the Paytm app?
According to Google, the Play Store bans online casinos and other unregulated gambling apps that facilitate or promote sports betting in India.
- The general Paytm app promotes fantastic sports, which have repeatedly violated Google Play Store policies.
- In a blog post on Friday, Suzanne Frey, Android Vice President of Product, Security and Privacy, said: “We do not allow online casinos and we do not support any unregulated gaming applications. making sports betting easier.
- This includes if an application takes consumers to an external website that allows them to participate in paid tournaments to win real money or cash prizes, this is a violation of our policies.
“When an application violates these rules, we notify the developer of the violation and remove the application from Google Play until the developer complies. And in the event of repeated violations of the rules, we can take more serious action, which may include cancellation of Google Play developer accounts. Our policies are consistently enforced and applied to all developers. “
google
Has Google taken action against other similar applications?
- The fantasy sports app Dream11, which is the title sponsor of this year’s IPL tournament, has not been allowed on the Android maker’s Play Store because it allows users to win real money.
- Google has also been known to reach out to Disney + Hotstar’s video streaming app, the official online broadcaster of the IPL, to display warning notes before showing ads for great sports apps.
Global Peace Index 2020
World peace has deteriorated in the past year, the fourth time in the past five years that the world has experienced a decline in peace. This year’s results show that the level of world peace has deteriorated, with an average country score falling by 0.34%. It is the ninth deterioration of peace in the past twelve years, with 81 countries improving and 80 recording deteriorations in the past year.
GPI 2020 reveals a world in which the conflicts and crises that have arisen over the past decade have started to diminish, to be replaced by a new wave of tension and uncertainty after the COVID -19 pandemic.
Iceland remains the most peaceful country in the world, a position it has occupied since 2008. It joins the top of the index for New Zealand, Austria, Portugal and Denmark.
Afghanistan is the least peaceful country in the world for the second consecutive year, followed by Syria, Iraq, South Sudan and Yemen. All, with the exception of Yemen, have been ranked among the five least peaceful since at least 2015.
Only two of the nine regions of the world have become more peaceful in the past year. The greatest improvement occurred in the Russia and Eurasia region, followed by North America.
North America was the only region that registered improvements in all three areas, while Russia and Eurasia registered improvements in ongoing conflicts and security, but deterioration in the area of militarization.
The world is now considerably less peaceful than it was at the beginning of the index. Since 2008, the average level of peace in the country has deteriorated by 3.76%. There have been years of deteriorating calm in nine of the past 12 years.
The decline in peace in the past decade has been caused by a wide range of factors, including the escalation of terrorist activities, the escalation of conflict in the Middle East, the rise of regional tensions in Eastern Europe and in Northeast Europe and Asia, the increase in the number of refugees and the intensification of political tensions. in Europe and the United States.
The economic impact of violence on the global economy in 2019 was $ 14.5 trillion in terms of purchasing power parity (PPP). This figure equals 10.6% of global economic activity (gross world product) or $ 1,909 per person.
The economic impact of the violence improved by 0.2% from 2018 to 2019. The greatest improvement occurred in armed conflicts, which fell 29% to $ 521 billion, due to a decrease in the intensity of conflicts in the Middle East and North Africa.
There has also been a substantial reduction in the economic impact of terrorism, which decreased by 48% from 2018 to 2019.
Violence continues to have a significant impact on economic performance worldwide. In the ten countries most affected by violence, the average economic impact of violence was equivalent to 41% of GDP on average, compared to less than 4% in the countries least affected by violence.
Syria, South Sudan, Afghanistan and Venezuela incurred the highest proportional economic cost of violence in 2019, at 60, 57, 51 and 48% of GDP, respectively.
The report’s Positive Peace investigation focuses on the impact of the COVID-19 pandemic on Positive Peace. Positive peace measures a country’s ability to maintain peace. Falls in positive peace generally precede falls in peace.
The impact of the pandemic, in particular its economic consequences, will likely have a severe impact on the way societies operate. This impact could lead to the deterioration of Positive Peace and increase the risk of outbreaks of violence and conflict. Europe is likely to see an increase in civil unrest as the looming recession looms, while many countries in Africa will face starvation, creating further stress in many fragile countries.
Countries with strong Positive Peace have a greater resilience to absorb, adapt and recover from crises, such as COVID-19 and the resulting recession. In particular, nations that perform well on the pillars of good governance and the strong business environment of the Positive Peace Index are more likely to recover relatively quickly from the crisis.
There is also evidence to suggest that countries with higher levels of Positive Peace have been quicker to adapt and respond to the pandemic. Looking only at nations within the OECD, the countries that perform best in good government performance and high levels of human capital pillars have been able to assess a larger proportion of their population for the COVID-19 virus.
The GPI 2020 report also has a special focus on the IEP’s latest research report: the Ecological Threat Register (ETR), which combines a confluence of ecological risks with Positive Peace and economic coping capacity to better understand potential risks. Futures and the weaknesses that nations will face in the future. The next three decades. It also extrapolates population projections through 2050 to better understand the areas that will be most affected.
The ETR aims to show both exposure to risk and the ability of nations to cope with these ecological risks. The increase in the number of ecological threats can already be seen. The total number of natural disasters has tripled in the past four decades, while their economic impact has also increased, from $ 50 billion in the 1980s to $ 200 billion per year in the past decade.
More than two billion people already live in countries experiencing high water stress. By 2050, climate change is expected to create up to 86 million additional migrants in sub-Saharan Africa, 40 million in South Asia, and 17 million
This year’s report includes new research on the possible effects of climate change on peace. Since 2008, world peace has deteriorated by 3.78%, the report found.
The GPI was founded by Steve Killelea, an Australian technology entrepreneur and philanthropist. The report covers 99.7% of the world’s population and uses 23 qualitative and quantitative indicators from well-respected sources to compile the index.
The Australian think tank Institute for Economics & Peace classifies countries according to their level of peace according to three thematic areas: the level of security of society, the scope of current national and international conflicts and the degree of militarization.
India’s ranking fell five places to 141 out of 163 countries in the 2019 World Peace Index. In South Asia, Bhutan topped the index in 15th place, followed by Sri Lanka 72, Nepal 76 and Bangladesh 101. Pakistan, a neighboring country, was ranked 153. in the index.
India as well as the Philippines, Japan, Bangladesh, Myanmar, China, Indonesia, Vietnam and Pakistan are the nine countries most exposed to multiple climate risks.
The country has the seventh highest overall natural risk score, according to the report’s findings. India, the United States, China, Saudi Arabia and Russia are the top five countries with the highest total military spending, he added.
According to the report, South Asia’s score for each indicator of ongoing conflict is less peaceful than the global average, with four in six deteriorating last year. Only deaths from internal conflicts have improved, with fewer deaths in Pakistan, Afghanistan and India than in the previous year.
The score for internal conflicts being fought was highest with five in India and Pakistan. China, Bangladesh and India rank in the bottom half of the IPG and are highly exposed to climate risks, with 393 million people in high-risk areas, the report notes.
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Global Nutrition Report 2020
India is among 88 countries that are likely to miss global nutrition targets by 2025
According to the 2020 Global Nutrition Report, India has the highest rates of national malnutrition inequality. In 2012, the World Health Assembly identified six nutritional goals to achieve maternal, infant and young child nutrition by 2025. This requires governments to reduce stunting by 40% in children under 5 and the prevalence of anemia of 50% in women in the 19 to 49 age group, guarantee a 30% reduction in low birth weight and do not increase overweight in children, increase the exclusive breastfeeding rate in the first six months at least to 50%, and reduce and maintain infant wasting by less than 5%.
According to the World Nutrition Report 2020, India will not meet the targets for the four nutrition indicators for which data are available, namely;
- Stunting in children under 5,
- Anemia in children women of childbearing age,
- Overweight children and
- Exclusive breastfeeding.
Between 2000 and 2016, underweight rates increased from 66.0% to 58.1% for boys and from 54.2% to 50.1% for girls. However, this is still high compared to the average of 35.6% for boys and 31.8% for girls in Asia.
37.9% of children under the age of 5 are stunted and 20.8% are wasted, compared to the Asian average of 22.7% and 9.4% respectively.
One in two women of childbearing age is anemic, while the rate of overweight and obesity continues to rise, affecting almost a fifth of adults, 21.6% of women and 17.8% of men.
“Inequity is a cause of malnutrition — both under-nutrition and overweight, obesity and other diet-related chronic diseases. Inequities in food and health systems exacerbate inequalities in nutrition outcomes that in turn can lead to more inequity, perpetuating a vicious cycle”
says report
Malnutrition still remains one of India’s biggest challenges, according to the 2020 Global Nutrition Report released worldwide on May 12. The annual report, which captures the burden of malnutrition at the global, regional, sub-regional and country levels, is billed as the world’s leading independent assessment of the state of global nutrition.
In a section on India that maps progress against global targets for 10 specific parameters set for 2019, three had no data, one showed “some progress”, while six were marked “no progress or worsening “. However, the under-five mortality rate (per 1,000 births) has clearly decreased from 43.6% in 2015 to 36.6% in 2018. Other statistics for India (2016 figures) show that it has 0.76 doctors, 2.09 nurses and midwives and 0.58 community health workers per 1,000 inhabitants.
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GI Tags list of 2019
Geographical indication (GI) is a name or sign used on certain products which corresponds to a specific geographical location or origin (e.g. a town, region, or country).
Approved by the Geneva-headquartered World Trade Organization, a GI tag recognized the place of origin of a product and the specific qualities or means of production associated with it. GI Tag acts as a certificate and it is a way of ensuring that similar products from elsewhere cannot be sold under this name.
A GI Tag is valid for a decade, after which it can be renewed for another 10 years. In India, the GI tag is governed by the Geographical Indication of Goods (Registration and Protection) Act which came into being in 1999.
India, as a member of the World Trade Organization (WTO), enacted the Geographical Indications of Goods (Registration & Protection) Act, 1999 has come into force with effect from 15th September 2003.
Darjeeling Tea was the first Indian product to get the geographical indication tag. In 2004, the famous beverage got the recognition. You might have heard of intellectual properties rights like Copyright, Patent, Trademark etc. Geographical Indication Tag provides similar rights and protection to holders.
In September 2019, the government assigned Geographical Indication (GI) labels to four new products from the states of Tamil Nadu, Mizoram and Kerala. Geographical indications were registered by the Department for the Promotion of Industry and Internal Trade (DPIIT) for Palani Panchamirtham in the city of Palani, Tamil Nadu, Tawlhlohpuan and Mizo Puanchei in Mizoram and Tirur Betel in Kerala.
- Palani Panchamirtham, a ‘prasadam’ or religious offering in temples: Palani Town, Tamil Nadu
- Tawlhlohpuan, is a fine quality fabric woven: Mizoram.
- Mizo Puanchei, essentially a shawl, is considered the most colourful textile: Mizoram.
- Tirur betel vine valued for its medicinal and cultural usages: Malappuram district of Kerala.
- ‘Odisha rasagola‘, for the delectable eastern sweet: Odisha
Other GI Tags list of 2019:
- Kandhamal Haladi-Agricultural-Odisha
- Kodaikanal Malai Poondu-Agricultural– Tamil Nadu
- Pawndum-Handicraft-Mizoram
- Ngotekherh-Handicraft-Mizoram
- Hmaram-Handicraft-Mizoram
- Gulbarga Tur Dal-Agricultural-Karnataka
- Irish Whiskey-Manufactured-Ireland
- Khola Chilli-Agricultural-Goa
- Idu Mishmi Textile-Handicraft– Arunachal Pradesh
- Dindigul Locks-Manufactured– Tamil Nadu
- Kandangi Saree-Handicraft– Tamil Nadu
- Srivilliputtur Palkova— Food Stuff- Tamil Nadu
- Kaji Nemu-Agricultural– Assam
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GI Tag for Rasogolla
“Orissa rasagola” obtained the geographical indicator (GI) label less than two years after West Bengal earned its own GI label for delicious oriental sweets. As we know, a GI is a distinctive sign / name used in a product generally maintained collectively, which can be used to differentiate products based on their unique characteristics and geographic origin. A GI label assists in branding and marketing a local product and can lead to penalties if someone copies it outside of this geographic region.
When West Bengal received its GI label for its rasagola variety in November 2017, many people mistakenly believed that the GI registry recognized that the sweet came from West Bengal. A bitter struggle ensued between the two states for sweet delicacy, both on social media and abroad.
The GI label for the same product in the two neighboring states now recognizes two different varieties of flavor and texture. In its presentation to the GI Registrar, Odisha Small Industries Corp. Ltd., which received the GI label, stated that Odisha rasagola is very soft to the touch, juicy and not spongy and can be swallowed without dental pressure. The rasagola prepared elsewhere is circular in shape, milky white in color and essentially fluffy in consistency.
Odias quotes the 12th-century tradition of cottage cheese dumpling offered at the Puri Jagannath Temple. During the “Niladri Bije” festival, Lord Jagannath offers his disgruntled consort the goddess Laxmi on his return from a nine-day Rath Yatra. This day is now marked by Odias as Rasagola Dibasa (day) every year.
However, an Odia culture specialist, Asit Mohanty, revealed unknown facts about this sweet, finding mention of the 15th century word rasagola Odia Dandi Ramayan written by the medieval poet Balaram Das. He also cited many other texts in Odiya and Sanskrit to demonstrate that the Indians knew the chhena or ricotta long before the Portuguese arrived in India. While Bengalis claim that the sweet was invented by Nobin Chandra Das (Born: 1845) at his Bagbazar residence in Kolkata.
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GI Tag for Kovilpatti kadalai mittai
After a five-year wait, Kovilpatti kadalai mittai, a peanut candy from southern Tamil Nadu, received the Geographical Indication (GI) label as Deputy Registrar of Record, Chennai, Chinnaraja G Naidu, said the coveted state it was awarded to Kovilpatti Regional Kadalaimittai Manufacturers and Retailers Association in Kovilpatti in Thoothukudi district.
Kovilpatti kadalai mittai was originally prepared during village festivals using hearts of palm and peanuts from nearby districts. In the 1940s, Ponnambala Nadar, the owner of a grocery store in the city, decided to use cane sugar and peanuts to make the kadalai mittai. He also introduced the cut of the candy into rectangular shapes instead of the traditional balls. The association filed the petition in 2014 claiming that Kovilpatti is synonymous with kadalai mittai. The sweet is produced from peanuts and organic brown sugar obtained from specific locations. Thamirabarani water is used to improve its flavor.
It gets its unique flavor by using Theni’s special jaggery. While the regular jaggery is brown, hardened, and sold in round lumps, this one is fresh, pale, and in soft triangular blocks. Peanuts are carefully sourced from the nearby town of Aruppukottai. They are first shelled and toasted in a machine before being joined with bright syrup and covered with bits of grated coconut dyed pink, green and yellow. Each 100 mg candy has protein, energy, carbohydrates and fats. A large number of workers are engaged in making sweets in Kovilpatti and nearby regions. It is sold not only in Tamil Nadu and other states, but is also exported to various countries.
At Kovilpatti, it is sold as individual rectangular pieces, or rather cuboids, sealed in packages. It is made with all natural ingredients, such as the traditional and special “vellam” (brown sugar) and the walnuts and water from the Thamirabarani River are used in production, which improves the flavor naturally.
Kovilpatti kadalai mittai is produced using peanuts and jaggery (organic jaggery), in carefully selected quantities from selected specific locations in Tamil Nadu. Peanuts are grown on the native black soil in and around Kovilpatti. After sourcing, the nuts are shelled and roasted. This is how this Kovilpatti kadalai mittai has a unique traditional flavor. For decades, the Kovilpatti kadalai mittai was traditionally prepared during village festivals using hearts of palm and peanuts from nearby districts. The switch to brown sugar from sugar cane occurred in the pre-independence era, around the 1940s, when Ponnambala Nadar, who had a grocery store in the Bazaar, decided to use cane and peanut sugar in his store to make kadalai mittai.
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GENERAL ATLANTIC TO INVEST Rs. 6,598.38 CRORE IN JIO
Reliance Industries Limited and Jio Platforms Limited, India’s leading digital services platform, today announced an investment of Rs 6,598.38 crore from General Atlantic, a leading global growth company. This investment values the Jio platforms at a net value of Rs 4.91 lakh crore and a business value of Rs 5.16 lakh crore. General Atlantic’s investment will generate a 1.34% stake in the Jio platforms on a fully diluted basis. Thanks to this investment, Jio Platforms raised Rs 67,194.75 crore from major technology investors, including Facebook, Silver Lake, Vista Equity Partners and General Atlantic in less than four weeks.
Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is a next-generation technology platform focused on providing affordable, high-quality digital services across India, with more than 388 million subscribers. Jio Platforms has made significant investments in its digital ecosystem, using cutting-edge technologies including broadband connectivity, smart devices, cloud and advanced computing, big data analytics, artificial intelligence, the Internet of Things, augmented and mixed reality and blockchain.
Jio’s vision is to enable a digital India for 1.3 billion people and businesses across the country, including small merchants, micro-businesses, and farmers, so that everyone can benefit from the fruits of growth. inclusive.
General Atlantic is a leading global growth capital company with a 40-year history of investing in the technology, consumer, financial services and healthcare industries. As an integrated team operating under a global investment platform in 14 locations, General Atlantic invests behind themes driven by innovation and entrepreneurship and supported by long-term secular growth. General Atlantic has a long tradition of supporting disruptive entrepreneurs and businesses around the world, including Airbnb, Alibaba, Ant Financial, Box, ByteDance, Facebook, Slack, Snapchat, Uber and other global technology leaders.
General Atlantic is a world leader in growth stocks that provides capital and strategic support to growing companies. Founded in 1980, General Atlantic combines a global collaborative approach, industry-specific expertise, a long-term investment horizon, and a deep understanding of growth engines to partner with large entrepreneurs and management teams to create businesses. Exceptional worldwide. The company has approximately $ 34 billion in assets under management as of March 31, 2020. General Atlantic has more than 150 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, Jakarta, London, Mexico, Mumbai, Munich, Palo Alto, São Paulo, Shanghai and Singapore.
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Gen. Sam Manekshaw remembered
On 27th June our nation remembered Field Marshal Gen. Sam Manekshaw on his 12th death anniversary, Manekshaw was born on April 3, 1914 in Amritsar, son of Hormusji Manekshaw, doctor and Heerabai. The fifth of six children, he was educated at Sherwood College in Nainital. Subsequently, he returned to Amritsar for his studies at Hindu Sabha College.
- In July 1932, he joined the Indian Military Academy as part of his first batch. He allegedly acted as an act of rebellion against his father, who refused to send the young man to London to study medicine.
- Manekshaw met his wife Silloo Bode in 1937. They married two years later, April 22, 1939, and had two daughters. He was commissioned to the 4/12 of the Border Force Regiment on December 22, 1934.
- Initially, he was sent to Lahore for a year to serve as a liaison with a British unit. Later, in February 1936, he joined his parents’ unit.
- During his military career, he endured many difficult times. On one particular occasion, he escaped death by the skin of his teeth.
- Manekshaw, then just a young captain fighting during the Second World War, suffered multiple gunshot wounds against the Japanese in a Burmese jungle on February 22, 1942. His ordained Sher Singh evacuated him and, fortunately, he survived.
- In another case, his career nearly derailed. An investigating court was ordered against him in the early 1960s, when he was the commander of the College of Defense Service Personnel in Wellington. The precise reasons were never explained, Manekshaw having refused to speak about it.
- However, the Indian debacle that followed the 1962 war against China saved Manekshaw, so to speak. Menon and Kaul had to resign and Manekshaw was given command of the 4th Corps.
- From there he sailed relatively well and was appointed chief of the army by Prime Minister Indira Gandhi in July 1969.
- In his role as chief of the army, Sam Manekshaw made history not only by guiding India to the victory in the war of liberation of Bangladesh, but also for having resisted the political pressure to intervene at an untimely moment, even proposing to resign.
- In January 1973, the month of his retirement, Manekshaw was appointed marshal, a rank mainly ceremonial, but which reflects his stature in the history of the Indian army.
- He was the first Indian to receive this rank and now shares this laurel with one of his predecessors, General Kodandera Cariappa, who received it later in 1986.
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