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DAILY CURRENT EVENTS CIVILS360

September 20, 2017

A positive message from Myanmar, says India

  • India on Tuesday praised Myanmar leader Aung San Suu Kyi’s speech on the Rohingya, saying it contained a ‘very positive’ message.
  • Ms. Suu Kyi, who has been criticised in recent weeks due to the intensified military campaign against the Rohingya, delivered her ‘State of the Union’ address on the issue.
  • Acknowledging that Myanmar is an “imperfect” democracy, she said, “We don’t want Myanmar to be a nation divided by religious beliefs or ethnicities. Hate and fear are the main scourge and a transition for us is a transition to democracy after half a century or more of authoritarian rule.”
  • The Indian envoy also said that India shares Myanmar’s security concerns without compromising on security for the ‘innocent’ civilians (Rohingya). The envoy’s position reflects the recent Indian statements which expressed concern for the Rohingya while supporting Myanmar’s security concerns about terrorism.

1 paisa loan waiver a cruel joke: farmer

  • Chiddi Sharma, a farmer in Ading village of Mathura, has received 1 paisa or Rs. 00.01 as part of the U.P. government’s flagship crop loan waiver scheme, which promises a relief of up to Rs. 1 lakh to the 86 lakh farmers in the State.Mr. Sharma, one of the many farmers who have been given waivers of minuscule amounts, says his is the “cruellest joke” as no one in the State has been paid 1 paise as relief for losses running into lakhs.
  • The district manager of PNB bank, P.K. Singh, said that a case like that of Chiddi Sharma may have happened because of two accounts in the same bank. “Under the scheme those accounts of farmers ended up getting selected in which the money was either repaid or there was a meagre loan amount left,” said Mr. Singh. But Mr. Sharma said he never had two accounts in PNB, so there was no chance of any confusion.

GST refund: ‘mini-social crisis’ brewing

  • Exporters are troubled by the ‘inordinate delay’ in getting Goods and Services Tax (GST) refunds. On Tuesday, representative assocations told the Centre that since the working capital crunch (owing to the delay) is occurring in the middle of the festival season, it was causing difficulties in paying salary and Diwali bonuses to workers.
  • In a meeting with Revenue Secretary Hasmukh Adhia, who chairs the Committee on Exports to address GST-related problems, exporters sought the Centre’s immediate intervention to avert what they called a ‘mini social crisis’.

‘Affecting payments’

  • EEPC India said the authorities ought to release at least 90% refunds immediately after the shipments and let verification and adjustment be done at a later stage. “This will help small and medium exporters to tide over their blockage of funds, and allow them to pay salaries and bonuses of workers in the festival season. Our members have pointed out that they are in a desperate situation and hence the government must intervene to avoid a mini social crisis.”

Exemption sought

  • The demands of the apex body for the country’s exporters, the Federation of Indian Export Organisations (FIEO) include seeking an outright exemption from the GST regime. The FIEO said in a statement that “It is not fair to expect micro and small units to borrow to pay for taxes, which in any case will be refunded. Why not an outright exemption window be provided to exporters?” It added that alternatively, an e-wallet may be created so that money flows out while paying GST on inputs required for exports or procurement of exports goods by Merchant Exporters, and money is re-credited to the wallet once the proof of exports is given.
  • The FIEO also mooted that Merchandise Exports from India Scheme (MEIS), Service Exports from India Scheme (SEIS) and Duty Credit Scrips be permitted for payment of Integrated GST and Central GST. Besides, utilisation of the Scrips could be considered for payment of bank interest, it said. Exporters also sought exemption from IGST on imports under Advance Authorisation and Export Promotion Capital Goods schemes.