CURRENT AND CORPORATE NEWS : 8 SEPTEMBER 2020 TAXCONCEPT

Current and corporate news : 8 september 2020

NATIONAL NEWS

President Ramnath Kovind asks states to organise virtual sessions to implement NEP: President Ram Nath Kovind while addressing the conference said the New Education Policy gives top priority to provide basic literacy and numeracy to all children at primary school level by the year 2025. He said, the Policy has been formulated after an unprecedented and lengthy process of consultations including over two lakh suggestions received from about 675 districts. Mr. Kovind said the new National Education Policy makes it clear that the public education system is the basis of a vibrant democratic society and asserted that strengthening of public educational institutions is therefore of prime importance. He said that integration of technology in the Education System will further boost the corrective measures and informed that a National Educational Technology Forum will soon be established in the country to suggest such measures to all stakeholders. President asked Governors to organise theme-based virtual sessions in their States to implement the New National Education Policy.

New Education Policy will prepare Indian youth for new challenges in ever evolving sphere of Employment & Jobs: PM Modi: Prime Minister Narendra Modi has hailed the New Education Policy and said that it will change the one size fits all theory of earlier education policies. He said the New Education Policy will prepare Indian youth for new challenges in the ever evolving sphere of employment and jobs. He was addressing the inaugural session of the Governors’ Conference on National Education
Policy through video conference this morning. The Prime Minister said that
suggestions of more than 2 lakh people from across the country were amalgamated in the New Education Policy. The PM asserted that Education
policy is the key to fulfil the nation’s aspirations and called for minimal
government intervention and influence in its implementation. The Prime
Minister said, the policy paves the way for opening campuses of best international institutions in India so that youth from common families can also join them.

Plea for care of elderly during COVID-19: SC grants four weeks to states to file their responses: The Supreme Court today granted another four weeks’ time to states, to file their responses on a plea seeking directions to provide masks and sanitisers to the elderly amid COVID-19 pandemic. The matter came up for hearing before a bench headed by Justice Ashok Bhushan. The Bench in its August order had directed that all eligible old age persons should be regularly paid pension and states should provide them necessary medicines, masks, sanitisers and other essential goods in wake of the pandemic. The bench, also comprising Justices R S Reddy and M R Shah, was hearing a plea filed by former union minister and senior advocate Ashwani Kumar who has sought directions saying elderly people need more care and protection in this time of pandemic. During the hearing conducted through videoconferencing, Kumar told the bench that only some states including Odisha and Punjab have responded to the petition so far.

Country as a whole so far received 7% excess rainfall: Secretary, Ministry of Earth Sciences: Secretary, Ministry of Earth Sciences, Dr. M Rajeevan has said that the country as a whole has so far received 7 percent excess rainfall. Addressing a virtual press conference in New Delhi today, Dr. Rajeevan said, the plentiful and spread of southwest monsoon this year should help farmers and the output must be very good. Director General of India Meteorological Department, IMD, Dr. Mrutyunjay Mohapatra said, the country is likely to see normal to above normal rainfall in September, though in the second week of September, monsoon rain is likely to be deficient in most parts of the country, including northwest and central India. However, it is likely to resume after September 17. The usual date for monsoon to begin withdrawing is September 17.

STATE NEWS

Tamil Nadu CM releases state’s Electronic Hardware Manufacturing Policy-2020: The Tamil Nadu Chief Minister Edappadi Palaniswamy released the state’s Electronic Hardware Manufacturing Policy-2020 today. A target is fixed in the new policy for the manufacturing of electronic goods worth 100-billion US Dollars by the year 2025. It envisages making the state contribute 25 percent of the country’s total electronic hardware export. It aims at attracting semiconductor fabrication units to the state. Providing a 30-percent capital subsidy, 50 percent grant for taking land on lease, 5-percent interest grant for term loans and a monthly financial aid for the first-time trainees in the sector for six months at the rate of Rs. 4,000 for men and Rs. 6,000 for women are some of the features in the new policy. Mobile phones, LED’s, fabless chips, printed circuit boards, solar photovoltaic cells and medical and automobile electronics are some of the areas that are being given focus in the new policy.

Karnataka Medical Education minister holds meeting with Covid 19 task force officials over Coronavirus reinfection cases: Karnataka Medical Education minister Dr. K Sudhakar held a meeting with Covid 19 task force officials today after a 27 year old woman in Bengaluru developed Coronavirus infection for the second time. He asked officials to conduct a clinical study about the Coronavirus reinfection cases. Expressing concern over the reinfection case, the minister asked the officials to submit a report on such cases if any in other states. He stressed the need to strengthen containment efforts at the booth level in the city.

Gujarat CM flags off COVID-19 Vijay Rath through video conferencing: Gujarat Chief Minister Vijay Rupani today flagged off COVID-19 Vijay Rath
through video conferencing. Covid19 Vijay Raths were flagged off from five
districts of the state simultaneously. Speaking on this occasion, Chief Minister Rupani said that these Raths will help create public awareness in
the fight against the Coronavirus. AIR correspondent reports, the Covid19
Vijay Raths have been flagged off from Ahmedabad, Surat, Junagadh, Kutch
and Banaskantha districts simultaneously. After covering the five districts, it will cover about 90 talukas in 33 districts of the state in the next 44 days.
This awareness campaign has been organized by Ahmedabad Press Information Bureau, Regional Outreach Bureau-ROB and UNICEF. Gujarat
Government is already providing health services to the people’s door step
through Dhanvantari Rath, Sanjivani Rath and 104 Helpline. Now, the Covid19 Vijay Rath will help to create mass awareness among the people to check the spread of Covid19 pandemic in the state.

INTERNATIONAL NEWS

300 protestors arrested in Hong Kong for opposing postponement of legislative elections & new national security law imposed by China: In Hong Kong, police arrested almost 300 persons on Sunday after demonstrators protested to oppose the postponement of legislative elections
and a new national security law imposed by China. In July this year, Hong
Kong leader Carrie Lam postponed the proposed September 6 elections in
the Asian financial hub’s Legislative Council for a year because of a spike in
coronavirus cases. As per local media reports, thousands of police personnel were stationed around the bustling Kowloon peninsula as hundreds of marchers waved placards and chanted popular anti government slogans such as “liberate Hong Kong”. These slogans are now banned under the new security law imposed by Beijing. Police said arrests were made, mainly for illegal gatherings. Hong Kong government has said this was necessary amid the coronavirus pandemic, but activists said the government was using the outbreak as a pretext to stop people from voting.

UK court rejects plea seeking partial reporting ban in fugitive diamantaire Nirav Modi case: In UK, a judge, presiding over fugitive diamantaire Nirav Modi’s extradition case over the estimated USD 2-billion PNB fraud and money laundering charges brought by India, rejected an application seeking a partial reporting ban at the start of a five-day trial today. District Judge Samuel Goozee dismissed the application after hearing representations in what he called a “high profile case in India”, including from members of the press present at Westminster Magistrates’ Court. Nirav Modi has made repeated attempts at bail over the past year, each of which were turned down as he is deemed a flight risk. He was arrested on March 19th last year on an extradition warrant executedbyScotlandYard.

Typhoon Haishen wreaks havoc in South Korea: A powerful typhoon damaged buildings, flooded roads and knocked out power to thousands of homes in South Korea today after battering islands in southern Japan and injuring dozens of people. The Korea Meteorological Administration said typhoon Haishen was passing waters off the eastern coastal city of Sokcho today after barrelling through South Korea’s southern and eastern regions. The typhoon was weakening, with its maximum winds measured at 108 kilometres per hour after blowing at 144 kilometres in the morning, and it was forecast to be downgraded to a tropical storm within 12 hours.

UNICEF to lead global procurement and supply of coronavirus vaccines: In what could possibly be the world’s largest and fastest ever operation of its kind, UNICEF has announced that it will be leading the procurement and supply of coronavirus vaccines to ensure that all countries have safe, fast and equitable access to initial doses when they are available. The United Nations Children’s Fund (UNICEF) is the world’s largest single vaccine buyer, procuring more than 2 billion doses of various vaccines annually for routine immunisation and outbreak response on behalf of nearly 100 countries. With several vaccine candidates showing promise, the UN agency, in collaboration with the Revolving Fund of the Pan American Health Organization (PAHO), will lead efforts to procure and supply doses of COVID-19 vaccines on behalf of the COVAX Global Vaccines Facility for 92 low and lower middle-income countries, whose vaccine purchases will be supported by the mechanism. UNICEF will undertake these efforts in close collaboration with the World Health Organization (WHO), Gavi the Vaccine Alliance, the Coalition for Epidemic Preparedness Innovations (CEPI), PAHO, the World Bank, the Bill and Melinda Gates Foundation, and other partners. The COVAX Facility is open to all countries to ensure that no country is left without access to a future COVID-19 vaccine.

More than 26 thousand participants from 149 countries to join virtual World Solar Technology Summit : World Solar Technology Summit (WSTS) will be organized by the International Solar Alliance (ISA), tomorrow afternoon. More than 26 thousand participants from 149 countries have registered to join the virtual Summit which is expected to bring the spotlight on accelerating affordable and sustainable clean green energy by showcasing and deliberating on innovative state of the art next generation technologies in solar power. President of the ISA Assembly and India’s Power and New & Renewable Energy Minister Mr. R. K. Singh and Ms Barbara Pompili, the Co- President of the ISA Assembly and Minister for Ecological Transition of France will be joined by the Vice Presidents of ISA from Africa, Asia Pacific and the Latin American and Caribbean Region during the inaugural address.

SCIENCE AND TECHNOLOGY

India successfully flight tests indigenous Hypersonic Technology Demonstrator Vehicle: In a historic mission today, India successfully flight tested Hypersonic Technology Demonstrator Vehicle (HSTDV). This is a giant leap in indigenous defence technologies and a significant milestone towards a Sashakt Bharat and Atmanirbhar Bharat. DRDO with this mission, has demonstrated capabilities for highly complex technology that will serve as the building block for Next Gen Hypersonic vehicles in partnership with industry. Chairman DRDO congratulated all the Scientists, Researchers and other personnel related with HSTDV mission for their resolute and unwavering efforts towards strengthening Nation’s defence capabilities.

IMPORTANT DAYS

1st International Day of Clean Air for blue skies being
commemorated today: The first International Day of Clean Air for blue skies is being commemorated around the world today, following the recognition by the United Nations General Assembly of the importance of clean air for the health and day-today lives of people. In a message, UN Secretary-General António Guterres highlighted the dangers posed by air pollution and urged greater efforts to address it. He said that air pollution contributes to heart disease, strokes, lung cancer and other respiratory diseases. It also threatens the economy, food security and the environment. He added that as the world recover from the coronavirus pandemic, more attention needs to be given to air pollution, which also increases the risks associated with COVID-19.

BUSINESS AND FINANCE

RBI to conduct simultaneous purchase & sale of govt
securities under OMO for Rs 10,000 crore each on Sept
10: The Reserve Bank of India (RBI) will conduct simultaneous purchase and sale of government securities under the Open Market Operation (OMO) for Rs 10,000 crore each on September 10. The central bank today said it would be selling three securities totalling Rs 10,000 crore and also purchasing equal number of securities of the same amount. The result of the auctions will be announced on the same day. According to RBI statement, the second tranche of auction would be conducted on September 17. Simultaneous purchase and sale of government securities under OMOs, popularly known as Operation Twist, involves purchasing G-Sec of longer maturities and selling equal amount of G-Sec of shorter maturities.

OBITUARY

Liberation war fighter Ziauddin Tariq Ali passes away in
Dhaka: Liberation war fighter and a prominent public figure of Bangladesh Ziauddin Tariq Ali passed away in Dhaka on Monday. He was admitted to a specialised hospital in Dhaka after getting infected with Corona two weeks back. He was a member of the cultural group ‘Muktir Gaan’, that inspired the freedom fighters through their songs during the Liberation War in 1971. Condoling the death of Tariq Ali, the Liberation War Affairs Minister of Bangladesh AQM Mozammel Haque praised his role in setting up the Liberation War Museum. He said Tariq Ali worked tirelessly to spread the spirit of liberation war among the new generation. Prime Minister Sheikh Hasina also expressed deep shock and sorrow at the death of Ziauddin Tariq Ali.

SPORTS

BCCI announces schedule for IPL 2020 to be held in
UAE: BCCI has announced the schedule for IPL 2020 to be held in UAE. The
season will kickstart on 19th September in Abu Dhabi with a blockbuster
clash between defending champions Mumbai Indians and Chennai Super
Kings. The action will shift to Dubai for the second game where Delhi Capitals will face Kings XI Punjab September 20. SunRisers Hyderabad and
Royal Challengers Bangalore will also compete in Dubai on September 21,
while Rajasthan Royals will host the three-time IPL champions CSK in
Sharjah on September 22. The evening matches of the tournament, which
will be played in the United Arab Emirates, will start at 7:30 PM Indian time.
There will be 10 double-headers, and the afternoon matches will begin at
3:30 PM. Dubai will host 24 games, 20 matches will be played in Abu Dhabi
while the remaining 12 matches are scheduled to be played in Sharjah. The
final of the tournament will be played on November 10. Venues for the playoff and the final are yet to be announced.

World No. 1 Novak Djokovic disqualified from US Open
after striking line judge with ball: World No. 1 Novak Djokovic was sensationally disqualified from the US Open after striking a line judge with a ball during his fourth-round match yesterday. This marked a stunning end to his 29-match winning streak and bid for an 18th Grand Slam title. Novak Djokovic went 5-6 down in the first set to Spain’s Pablo Carreno Busta when he hit a ball in the direction of the female official. It struck her in the throat and she could be heard gasping. Djokovic rushed over to check that she was okay and after a few minutes she got up and walked off the court. Following discussions with the tournament referee, the umpire declared that Carreno Busta had won by default. Djokovic shook hands with Carreno Busta before leaving the court. Djokovic left the tournament grounds without speaking to the media. His departure means there is no male player left in the field who has won a Grand Slam singles title. Whoever emerges as champion will be the first first-time major trophy winner in men’s tennis since 2014, when Marin Cilic won the US Open.

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Compiled By : CS Surbhi Saxena

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