Current Affairs – July, 2020

GST Revenue Collection Improves significantly in the month of June 2020

Rs 90,917 crore is the gross GST (Goods and Services Tax) revenue collected in the month of June 2020. The amount Rs 90,917 crores is 91 percent of GST revenue collected in the month of June in 2019. Breakdown of GST Revenue Collection for June 2020 Central GST (CGST): Rs 18,980 crore State GST (SGST): Read More…

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Estimated Rs 1,48,938 crore of food grains and pulses will be distributed from April to November 2020

The Department of Food and Public Distribution has estimated that food grains (Rice and Wheat) and pulses worth Rs 1,48,938 crore will be distributed under the Pradhan Mantri Garib Kalyan Ann Yojana in the period between 8 months from April to November 2020. Breakdown of the Estimation The estimations were made based on Targeted Public Read More…

USD 750 Million approved under COVID-19 Emergency Response Program for MSMEs in India by World Bank Group

A USD 750 Million loan was approved for the Micro Small and Medium Enterprises (MSMEs) in India by the World Bank Group. The Approval for the loan amount was given on 30th June 2020 by the Board of Executive Directors of the World Bank Group.  As a result of the COVID-19 pandemic, the MSME sector Read More…

Centralized System of Stamp Duty collection comes into effect from 1st July 2020

Through Finance Act 2019, amendments were brought to the Indian Stamp Act, 1899. The amendments made comes into effect from 1st July 2020 onwards. These amendments were made for building a pan-India securities market and to boost Ease of Doing Business. About the Amendments For building a pan-India securities market, a centralized system of stamp Read More…

India’s IOCL and Bangladesh’s Beximco LPG Limited signs agreement for LPG JVC in Bangladesh

An agreement was signed on 30th June 2020 between the Dubai based IOC Middle East FZE-subsidiary of Indian Oil Corporation Limited (IOCL) and Bangladesh’s Beximo LPG Limited’s UAE based holding company RR Holdings Ltd. The agreement signing event was virtually presided by Dharmendra Pradhan (Union Minister of Petroleum and Natural Gas). As per the agreement, Read More…