UTTAR PRADESH
28 per cent shortfall in UP’s 2020-21 revenue collection
Uttar Pradesh Finance Minister Suresh Khanna said the pandemic had impacted revenue collection during the last fiscal 2020-21 and the total tax collection was only 71.8 per cent of the target – a shortfall of close to 28 per cent.
He said against the target of Rs 1,66 lakh crore in 2020-21, the revenue collection was Rs 1,19,284 crore, which was 71.8 per cent of the target.
The minister said that UP was on the path of rapid economic recovery as the tax collection in March this year was Rs 16,476 crore against Rs 13,445 in March 2020 and similarly an increase of Rs 3,030 crore was recorded in collection of non tax revenue in March this year compared to March 2020.
Khanna said in March this year, collection from GST was Rs 8,769 crore against the target of Rs 8,471 crore. He said there was a shortfall in collection of VAT as it was Rs 3,439 crore against the target of Rs 3,798 crore or 90.5 per cent. The revenue collection from excise duty on alcohol was Rs 4,357 crore against the target of Rs 3,800 crore. The revenue collection was over 100 per cent of the target from stamps and registration and transport.
“The shortfall in revenue collection during the last fiscal 2020-21 as compared to the revenue collection in 2019-20 was only 3.3 per cent, the actual shortfall is higher as there was no growth in annual revenue during 2020-21 which was estimated to be over 10 per cent,” Khanna said.
Total tax collection in 2019-20 was Rs 1,23,357 crore and in 2020-21 the tax collection was Rs 1,19,284 crore which is three per cent less as compared to 2019-20.
Khanna said with the surge in revenue collection, the Union government also increased the state share in the annual Central assistance from Rs 98,000 crore to Rs 1,06 lakh crore. He said the Centre had budgetary grant of Rs 1.52 lakh crore for UP which was later reduced to Rs 98,000 crore but increased by Rs 8,000 crore due to improved performance by the state government in revenue collection.
INTERNATIONAL
Forest Governance by Indigenous and Tribal Peoples
The Food and Agriculture Organization of the United Nations & the Fund for the Development of Indigenous Peoples in Latin America and the Caribbean have released a new report entitled “Indigenous and Tribal People’s Forest Governance”. Highlights:
In the Caribbean and Latin America, the rate of deforestation in indigenous and tribal areas is low.
Based on more than 300 studies published in the past two decades, the new report emphasizes that indigenous and tribal people are generally better forest protectors than those responsible for other forests in the area.
Indigenous and tribal peoples and forests on their territories play an important role in regional and global climate action and the fight against hunger, poverty and malnutrition.
The carbon storage in these regions accounts for 1/3 of the carbon storage in the forests of Latin America and the Caribbean, and 14% of the carbon storage in the global tropical forests.
Carnivac-Cov Vaccine – Animal Vaccine
Russia has registered the world’s first animal vaccine against the noval coronavirus. The country’s agricultural safety supervision agency Rosselkhoznadzor announced the news. Highlights:
The world’s first animal vaccine against the noval coronavirus was named Carnivac-Cov.
According to the watchdog, the immunization will last for 6 months. However, the developer of the dosage is constantly analyzing this.
According to Rosselkhoznadzor, the Covid-19 vaccine is expected to start mass production as early as April 2021.
According to Russian scientists, the use of this vaccine can prevent the development of viral mutations in animals.
World Health Day is on 7th April
Every year, April 7th is designated as World Health Day. This day is to celebrate the role played by midwives and nurses in maintaining the safety and health of the world. Highlights:
Purpose: To raise awareness of specific health topics to highlight priority areas of concern to the World Health Organization (WHO).
World Health Day is commemorated by the World Health Organization and several other organizations. Every year, the theme of World Health Day is selected by WHO. The first World Health Assembly by WHO in 1948. This day is commemorated every year to commemorate the establishment of the WHO.
The WHO officially marks only eight campaigns. World Health Day is one of them. Other events are World Tuberculosis Day, World Immunization Week, World Malaria Day, No Tobacco Day, World Hepatitis Day, World AIDS Day & World Blood Donor Day.
NATIONAL
India-Mauritius Comprehensive Economic Cooperation And Partnership Agreement
The India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement will enter into force on April 1, 2021. Highlights:
The Comprehensive Economic Cooperation and Partnership Agreement (CECPA) between Mauritius and India was signed in February 2021.
This is the first trade agreement signed between India and an African country.
This agreement is a limited agreement and covers trade in goods, rules of origin, trade in services, Technical Barriers to Trade (TBT), Sanitary and Phytosanitary (SPS) measures, dispute settlement, movement of natural persons, telecommunications, financial services, customs procedures and other areas Cooperation.
India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA) provides an institutional mechanism to encourage and improve trade between both the countries.
PLI Scheme for Food Processing Industry
The Cabinet approved the Production Linked Incentive Scheme for the Food Processing Industries Highlights:
The Production Linked Incentive Scheme for the Food Processing Industries was approved by the Cabinet is to support the establishment of a world food manufacturing champion commensurate with India’s natural resource, and to support the development of Indian food brands in the international market.
The scheme has been launched and the cost is Rs. 109 million.
This is a Central Sector Scheme.
The objectives of the Scheme is to support food manufacturers to have a prescribed minimum sales volume, and be willing to expand processing capacity and establish brands abroad with the minimum prescribed investment to incentivize the emergence of powerful Indian brands. The purpose is to:
To support the creation of a global food manufacturing champion;
Strengthen selected Indian food brands to increase global visibility and gain wider acceptance in the international market;
Increase employment opportunities for non-agricultural work; and
Ensure the remuneration price of agricultural products and higher income of farmers.
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