Committees Current Affairs - 2020

GAAR deferred for 2 years by April 2016

The government assuaged the concerns of investors at home and abroad who were worried about the impending implementation of the controversial GAAR (General Anti Avoidance Rules) by deferring it by two years till April 1, 2016.

The deferment and other modifications in GAAR provisions shows the acceptance of the suggestions of the Parthasarathi Shome Committee, which was set up by Prime Minister Manmohan Singh to address concerns of investors on the Budget provision in this regard and the subsequent withdrawal of portfolio investment by foreign investors.

Justice D K Jain to head 20th Law Commission

Justice D K Jain, who is about to retire from Supreme Court, has been appointed as the chairman of the 20th Law Commission of India.

Task for 20th Law Commission:

The 20th Law Commission was constituted through a Government Order with effect from September 1, 2012, with the term ending on August 31, 2015. It has been charged with a wide terms of reference including one to examine existing laws from the gender equality perspective and suggest necessary amendments. It will also identify obsolete laws for their repeal and also recommend appropriate steps for speedy grievance redressal of citizen’s grievances in the field of law. The commission would also examine the Laws which affect the poor and carry out post-audit for socio-economic legislations and take all necessary measures to harness law and the legal process in the service of the poor.