Cabinet approves promulgation of GST (Compensation to States) Ordinance, 2017

The Union Cabinet on Wednesday approved promulgation of an ordinance to suitably amend the Goods and Services Tax (Compensation to States) Act, 2017.

The approval will allow increasing the maximum rate at which the Compensation Cess can be levied from 15% to 25%.

The increased cess would be levied on: Motor vehicles for transport of not more than thirteen people, including the driver falling under sub-headings 8702 10, 8702 20, 8702 30 or 8702 90 and Motor vehicles falling under headings 8703.

The GST Council in its meeting held in August considered the fact after introduction of GST, the total tax on motor vehicles (GST + Compensation Cess) has come down vis-a-vis pre-GST total tax and recommended the increase as above.

The issue regarding the increase in effective rate of Compensation Cess on motor vehicles will be examined by the GST Council in due course.

MOU between India and Brazil for cooperation in Zebu Cattle Genomics and ARTs

The Union Cabinet was apprised of Memorandum of Understanding (MoU) signed between India and Brazil for cooperation in the fields of Zebu Cattle Genomics and Assisted Reproductive Technologies.

The MoU will promote development of genomics and Assistant Reproductive Technologies (ARTs) in cattle through joint activities between the two countries.

An implementation committee would be created with an equal number of representatives of each party for determining the activities and developing work plans and subsequently their evaluation.

It will be done through joint projects in the fields of productivity improvement of cattle and buffaloes, for the purpose of broadening the existing knowledge base on sustainable dairy development and institutional strengthening.

The MoU would facilitate scientific cooperation and setting up of genomic selection programme in zebu cattle.

This would be done through application of genomics in zebu cattle and their crosses and buffaloes; application of ARTs in cattle and buffaloes; capacity building in genomics and assisted reproductive technology; and related R&D in genomics and ART.

India to help conserve quake-damaged pagodas of Myanmar

The Union cabinet approved a project to conserve the earthquake-damaged pagodas in Bagan city of Myanmar.

A Memorandum of Understanding (MoU) to formalise the pact will be signed between the two countries during Prime Minister Narendra Modi's visit to the nation on September 6-7. 

Bagan being a premier tourist attraction of Myanmar will also afford an opportunity to showcase India's expertise in the restoration and conservation of monuments not only to the people of Myanmar but also to tourists from other countries.

ઇસરો આજે નેવિગેશન સેટેલાઈટ IRNSS-1H લોન્ચ કરશે

શ્રીહરિકોટા સ્થિત કેન્દ્રમાંથી સાંજે 6.59 વાગ્યે ઉપગ્રહ લૉન્ચ કરવામાં આવશે. ઉપગ્રહ પીએસએલવી-સી-39 રૉકેટ દ્વારા ભ્રમણ કક્ષામાં તરતો મુકાશે. ઇન્ડિયન રિજનલ નેવિગેશન સેટેલાઇટ સિસ્ટમનો આઠમો ઉપગ્રહ છે.

1425 કિગ્રા વજનનો ઉપગ્રહ આઇઆરએનએસએસ-1નું સ્થાન લેશે. જૂના ઉપગ્રહની પરમાણુ ઘડિયાળ કામ કરતી અટકી ગઈ છે.

Nav ICના હાલના સાત સેટેલાઇટને જોડવા માટે આવતી કાલે નેવીગેશન સેટેલાઇટ IRNSS-1H ના લોંચિંગનું  ૨૯ કલાકનું કાઉન્ટ ડાઉન શરૃ થયું હતું. પીએસએલ,વી સી૩૯ બોર્ડ પર  IRNSS-1H લોંચ થનાર IRNSS-1a માટે બેકઅપ તરીકે કામ કરશે.સેટેલાઇટની ત્રણ ઓટોમેટિક ઘડિયાળો બંધ પડી જતાં સાત સેટેલાઇટ પૈકી એક માટે કામ કરશે. 

Govt to release new industrial policy by October

Under the Commerce and Industry Ministry, the Department of Industrial Policy and Promotion (DIPP) is likely to release a new industrial policy by October which will focus on encouraging Indian branded products with higher value addition.
 
The proposed policy will also review the existing foreign direct investment (FDI) policy regime to facilitate greater technology transfer. The policy is expected to replace the United Progressive Alliance government’s National Manufacturing Policy (NMP) released in 2011, which sought to create 100 million jobs by 2022.

It is time to shift from a policy of ‘continuity with change’ in 1991 to radical and accelerated reforms for greater strategic engagement with the world. A comprehensive, actionable, outcome-oriented industrial policy will enable industry to deliver a larger role in the economy; to fulfil its role as the engine of growth and to shoulder the responsibility of adding more value and jobs

Cabinet approves pact on India-Israel tech Fund

The union cabinet chaired by Prime Minister Narendra Modi approved a Memorandum of Understanding (MoU) between India and Israel on 'India-Israel Industrial R&D and Technological Innovation Fund (I4F). The MoU was concluded in July, 2017.

India and Israel will make a contribution of USD 4 million or about Rs 25 crore each for the fund annually for five years, which will be governed by a joint board comprising four members from each country.

The MoU envisages promotion of bilateral Industrial R&D and Innovation cooperation in the fields of science and technology by extending support to joint projects for innovative or technology-driven new or improved products, services or processes.

The projects under the fund will lead to affordable technological innovations in focus areas of mutual interest such as water, agriculture, energy and digital technologies.

The collaboration between the two countries for this fund is expected to enable institutional support in building up consortia, including private industry, enterprises and R&D institutions.

The activities supported by the Joint Fund would increase the techno-economic collaboration between the two countries by investing in jointly developed technology projects and collaborations based on technological innovation.

The fund is expected to foster and strengthen the eco- system of innovation and techno-entrepreneurship in India and contribute directly to the Startup India programme, it said.

The Cabinet was also informed that India and Canada have mutually agreed to jointly issue a set of two commemorative postage stamps on the theme of "Diwali".

The joint stamps will be released on 21st September, 2017. A Memorandum of Understanding (MoU) has already been signed between Department of Posts and Canada Post for this joint issue.

In this joint issue, the theme "Diwali" has been selected as it is a cultural theme for both the countries and also their is large presence of Indian diaspora in Canada.