UTTAR PRADESH
UP December revenue up Rs 2,522 crore as compared to previous year
Despite the challenges posed by the coronavirus pandemic, the state economy is fast heading for recovery and revenue receipts have recorded an increase of Rs 2,522 crore in December 2020 as compared to the recovery registered in the corresponding month in 2019.
Giving a break-up of the hike in the revenue receipts, the finance minister explained that the GST collection was Rs 4251 crore in December of the current financial year, while in the same month in 2019, it was Rs 3679 crore. Similarly, this December Rs 2271 crore VAT was realised, while in 2019 it was Rs 2072 crore, he said and added that excise collection, too, was raised to Rs 3149 crore this December as compared to Rs 2106 crore in the same month in 2019. The collection under the stamp and registration head stood at Rs 1822 crore in December 2020, while the corresponding figure for 2919 was Rs 1423 crore.
The finance minister further said that the revenue from transport was lagging from September till November 2020 as compared to the collection recorded in 2019. But in December last year the collection from transport too registered an increase of about Rs 200 crore.
INTERNATIONAL
India becomes co-chair of Asia Protected Areas Partnership (APAP), a regional forum to conserve wildlife
India has been chosen as the co-chair of the IUCN-supported Asia Protected Areas Partnership (APAP) for a period of three years till November 2023.
The APAP is chaired by IUCN (International Union for Conservation of Nature) Asia and co-chaired by an APAP nation member on a rotational basis.
India will replace South Korea ,which held the post for 3 years until November, 2020.
As a co-chair, India would be responsible to assist other Asian countries in managing their protected areas.
Bajaj becomes world’s most valuable two-wheeler company
Bajaj Auto has become the first two-wheeler company across the globe to cross a market capitalisation of ₹1-lakh crore (around $13.6 billion).
The statement from Bajaj Auto claims that this market valuation is considerably higher than all other domestic two-wheeler companies.
The company’s share closed at ₹3,479 giving it a market capitalisation ₹1,00,670.76 crore.
The company claims that it has achieved this milestone as it celebrates the 75th year of its operations.
World Bank Released Global Economic Prospects Report
According to the report, the Indian economy will contract by 9.6% in 2020-21. The Indian economy will recover by 5.4% in 2021-22. India’s economic contraction will be mainly attributed to the sharp decline in household spending and private investment.
The informal sector accounts for four-fifths of the country’s employment, is severely affected. On the other hand, the world economy will grow by 4% in 2021. Services and manufacturing are gaining momentum. According to the World Bank, India is facing its first technological decline.
When GDP exceeds the quarter’s negative growth for two consecutive quarters, it is called a period of a technical recession. In India, the gross domestic product for the April to June quarter fell by 23.9%.
In the July and September quarters, the GDP growth rate contracted by 7.5%. This clearly shows that India’s GDP growth has experienced negative growth for two consecutive quarters. Therefore, India is in a period of technological decline.
According to data from the Indian Economic Monitoring Center, during the covid-19 pandemic, more than 500,000 salaried people lost their jobs.
NATIONAL
GST revenue collection for December 2020 records all time high
GST Revenue collection for last month has been recorded to be an all time high since the implementation of the Goods and Services Tax in the country.
The gross GST revenue collected in the month of December 2020 is Rs 1,15,174 crore.
The revenue collected is 12 per cent higher than the GST revenues in the corresponding period lasting last financial year.
The December 2020 revenues are significantly higher than the November’s revenues which was nearly Rs 1,04,963 crore.
Digital Payments Index by RBI
The Reserve Bank of India has established a comprehensive Digital Payment Index (DPI) to record the degree of digitization of payments across the country.
The RBI-DPI has been constructed with March 2018 as the base period.
The DPI in March 2019 and March 2020 reached 153.47 and 207.84, respectively, indicating considerable growth.
RBI-DPI contains five main parameters: Payment Enablers, Payment Infrastructure – Demand-side factors and Supply-side factors, Payment Performance and Consumer Centricity.
The RBI-DPI should be published on the RBI’s website every six months starting in March 2021 for 4 months.
Rashtriya Kamadhenu Aayog Announces Online Exam
Rashtriya Kamadhenu Aayog recently announced that it will conduct a national-level “Gaau-Vigyan” (Cattle Science) online exam. This is done to arouse students and the public’s interest in local cows and their benefits.
The exam will be on February 25, 2021.
All elementary, middle and university level students can take the te test for free.
The exam will be held every year starting in 2021.
This exam is the first time in China.
All those who take the exam should receive a certificate, and the results of the exam will be announced immediately after the exam.
Rashtriya Kamadhenu Aayog has prepared learning materials about cow science to help aspiring candidates.
Rashtriya Kamadhenu Aayog was established to organize animal husbandry in accordance with modern and scientific methods. It will take steps to improve the breed of dairy cows and prohibit the slaughter of dairy cows. It is an integral part of Rashtriya Gokul Mission. The mission is to protect and develop indigenous cattle breeds.