|GS-II||India’s Child Well-being Report.|
|GS-III||Land Degradation Neutrality|
|It’s time for a direct tax regime that’s growth-focused and fair.||Economic Issues|
|RBI Surplus||Economic Issues|
Union Environment Ministry has committed to rejuvenating 50 lakh hectares (5 million) of degraded land between 2021 and 2030. A Centre for Excellence would be set up in Dehradun for land degradation neutrality.
Why such a move?
Land Degradation Neutrality
Land degradation neutrality (LDN) is a condition where further land degradation (loss of productivity caused by environmental or human factors) is prevented and already degraded land can be restored.
Benefits of Land Degradation Neutrality
Source: The Hindu
India overhauled its indirect tax system with the introduction of goods and services tax (GST). It now has to do the same with the direct tax system.
The task force on the direct tax code (DTC) submitted its final report to the finance minister. The proposed new code will replace the Income-tax Act of 1961.
DTC – what it has to say about direct taxes
Debating the proposals
Direct – Indirect tax shares
Direct taxes have to keep growing in importance as labour and capital incomes rise. A new DTC will be important in a distributional sense. Higher direct tax collections can create space for a restructuring of the GST.
Source: Live Mint
The RBI Board approved a surplus transfer of Rs 1,76,051 crore to the central government.
How does a central bank like the RBI make profits?
Arrangement for surplus transfer
Does the RBI pay tax on these earnings or profits?
Is there an explicit policy on the distribution of surplus?
Source: The Hindu
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