Current Affairs - January, 2019

Latest Current Affairs January, 2019 with Current Affairs, news summary on current events of National and International importance of January, 2019 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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GST ministerial panel on lotteries

The Central government has constituted GST ministerial panel on lotteries. The ministerial panel will study the current GST provisions related to lotteries.

The panel will look into the current system under GST wherein a state-organised lottery attracts 12 per cent GST while a state-authorised lottery attracts 28 per cent tax.

Terms of Reference

The inter-ministerial panel will look into the following issues:

  • Whether the disparity in tax structure on lottery be continued or a uniform rate be prescribed for both.
  • Whether private persons authorised by the states are misusing the lower rate and getting enriched themselves at the cost of the state and suggest measures to curb it.
  • Examine issues related to enforcement including the legal framework to prevent evasion of tax on the lottery and suggest appropriate tax rate to address the problem.

The inter-ministerial panel is headed by Maharashtra finance minister Sudhir Mungantiwar and has West Bengal finance minister Amit Mitra, Kerala finance minister Thomas Isaac, Assam finance minister Himanta Biswa Sarma, Punjab finance minister Manpreet Singh Badal, Goa panchayat minister Mauvin Godinho, Karnataka panchayat minister Krishna Byre Gowda and Arunachal tax and excise Minister Jarkar Gamlin as members.

Month: Categories: Business, Economy & Banking Current AffairsUPSC Current Affairs - 2019

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Krushak Assistance for Livelihood and Income Augmentation, KALIA

Krushak Assistance for Livelihood and Income Augmentation (KALIA) is a support scheme of Odisha whose primary targets are small farmers, cultivators and landless agricultural labourers. The scheme involves payments to encourage cultivation and associated activities.

Features of the Scheme

The important features of the scheme are:

  • Under the Scheme, Odisha would spend Rs 10,180 crore over three years until 2020-21 in providing financial assistance to cultivators and landless agricultural labourers benefitting  92% of the cultivators in the state and including every category from big farmers to landless cultivators.
  • The government would provide Rs 10,000 per family as assistance for cultivation, Rs 5,000 each in the Kharif and Rabi seasons, for five cropping seasons between 2018-19 and 2021-22.
  • The financial assistance under the scheme is not linked to the quantum of land owned.
  • The scheme also targets landless households, specifically SC and ST families; They will be supported with a unit cost of Rs 12,500 for activities like goat rearing, mushroom cultivation, beekeeping, poultry farming and fishery.
  • The Scheme also provides a life insurance cover of Rs 2 lakh and additional personal accident coverage of the same amount for 57 lakh households.
  • The Scheme also proposes interest-free crop loans up to Rs 50,000.

The scheme is proposed as an alternative to the demand of farm loan waiver. The scheme strives to target rural activities as a whole by supporting farming on a small scale, sharecropping, fishing and animal herding which doesn’t get covered under loan waiver schemes.

Month: Categories: States Current Affairs - 2018UPSC Current Affairs - 2019

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