Major News and Events of 02 July 2016
What Happened on 02 July 2016
PM Modi-Chaired CCS clears $1 Billion to buy 4 Poseidons from USA
Tax Officials ask PM Modi to Partially Tax Agricultural Income above a certain Threshold
Tax Department unearths Rs. 43,000 Crore Undisclosed Income in Last 2 Years
Ravi Shastri resigns from Anil Kumble headed ICC Cricket Committee
PM Modi to start his African Mainland Tour on July 7
With Law minister Sadananda Gowda in favour of implementing Uniform Civil Code (UCC) after discussion with all stakeholders, Union Government has referred its implementation issue to Law Commission to know its view. However, many question the timing of such a request as it may trigger vehement opposing voices from the opposition in the parliament, whose monsoon session is going to start later this month. Congress is already up in arms as it accuses BJP of raking up the UCC issue “deliberately”, keeping an eye on Uttar Pradesh assembly election. Meanwhile, former Supreme Court judge A R Lakshmanan, who headed law Commission in 2008, said that the erstwhile UPA government sat on the report on UCC (especially regarding marriages and divorces) even after accepting the report in principle.
Reports say Prime Minister Narendra Modi-headed Cabinet Committee on Security (CCS) has approved more than $1 Billion to acquire 4 Poseidon-8I longrange surveillance and antisubmarine warfare aircraft from the USA. It has been learned that “the contract will be inked with Boeing” in a couple of days . However, the delivery of these advanced aircrafts will be done in 3 years time. Reports say inclusion of Poseidon-8I will help India enhance reach as well as flexibility in undertaking extensive maritime surveillance and intelligence-gathering missions.
During Rajasva Gyan Sangam (a two-day conference of tax administrators), tax officers have made specific suggestions to Prime Minister Narendra Modi about taxing non-agricultural income above a certain threshold of target farmers. Income tax department has found out more than 2,300 cases having agricultural income of over Rs. 1 crore. A Patna High Court PIL had earlier raised concerns of agricultural income’s usage for routing unaccounted money. PM Modi has asked tax officers to build “bridge of trust” for achieving collection targets without coercion.
Union Revenue Secretary Hasmukh Adhia has said that undisclosed income to the tune of Rs. 43,000 crore has been unearthed by Income Tax Department in the last two fiscal years. Though he didn’t disclose whether the money unearthed belonged to corporate entities or individuals, Adhia categorically mentioned that Rs. 21,000 crore has been unearthed from the searches done by the department and the rest Rs. 22,000 crore “from various surveys”. He also said that his department is working on the tax amount to be levied on this undisclosed income.
Former Indian cricket player and Team India director 53 years old Ravi Shastri has resigned from a cricket committee of International Cricket Council (ICC) that is headed by newly appointed head coach of India Anil Kumble. Though many media reports connect the current move of Shastri to the fall out with CAC member Sourav Ganguly and losing out to Anil Kumble in the race as head coach of Team India, the decision came after Shastri expressed his desire to resign from the committee to ICC chairman Shashank Manohar.
In an effort to further strengthen as well as reinvigorate bilateral partnerships with the African partner countries, Prime Minister Narendra Modi is going to start his tour to the mainland African countries from July 7. Ministry of External Affairs spokesperson Vikas Swarup said that PM Modi will first arrive in Mozambique on July 7 and meet its President Filipe Nyusi, followed by visit to South Africa (July 8-9) and meeting with President Jacob Zuma. On July 10, he will reach Tanzania and meet President John Pombe Joseph Magufuli, followed by his trip to Kenya and meeting with Kenyan President Uhuru Kenyatta.