The revenue department has exempted residents of Assam, Jammu & Kashmir and Meghalaya from mandatory quoting of Aadhaar to obtain PAN cards and file tax returns. The department has also exempted citizens above 80 years, non-residents and non-citizens from the rule. This comes at a time when there are a bunch of pleas lying at the supreme court challenging the constitutional validity of the requirement for Aadhar for PAN and for filing income tax return.
The Reserve Bank of India has said that the introduction of GST will have economy-wide ramifications in terms of growth, inflation, government finances and external competitiveness over the medium term. It said in a report titled: ‘State Finances: A Study Of Budgets Of 2016-17’ that GST would chart a new course of federal cooperation and would help states return to a path of fiscal consolidation.
A Niti Aayog report released on Friday makes a strong case for electric vehicles in India by revealing that the country could save $60 billion in energy costs and one gigatonne of CO2 emissions between by 2030 if it adopts more electric and shared vehicles. It has also proposed incentives for the push of EV sales, including fiscal ones like feebates and non-fiscal ones like easier registrations.
The Indian army is set to receive long-awaited artillery guns in the next two years at most. Since the induction of the Bofors guns in the 1980s, the army did not have any artillery guns. Now, it is set to induct 55MM/52 calibre tracked self-propelled guns from Larsen and Toubro, 40km-ranged k9 vajra-t guns and 145 M777 howitzers into its arsenal.
Five builders in Noida and Greater Noida have made a written commitment to the Noida authority to complete pending projects by 2020. The builders include big names like Jaypee, Supertech & Amrapali. On Friday, the builders submitted a tower-wise completion schedule for their 14 housing projects, which are overdue by 3 to 5 years in most cases.