Professional Documents
Culture Documents
07 March 2016
07 March 2016
com
http://www.insightsonindia.com/2016/03/07/insights-daily-current-events-07-march-2016/
Paper 3 Topic: Effects of liberalization on the economy, changes in industrial policy and their effects
on industrial growth.
Once these services pertaining to starting, running and closing down a business completing the entire
lifecycle of a business entity are integrated to the eBiz portal, it will effectively become a single window
clearance mechanism.
Businesses and investors will be able to use the services 24X7 online, including for completing e-forms
online, uploading them as well as the required documents as attachments, making payments online,
submitting the forms online, tracking the status of applications, receiving SMS alerts from the government,
obtaining the needed licenses or permits and downloading the certificates and getting approvals.
In the latest ranking India went up 12 places to 130th in a list of 189 countries. The Centre aims to ensure that India
is in the top 50 within the next three years.
Sources: the hindu.
Paper 3 Topic: Indian Economy and issues relating to planning, mobilization of resources, growth,
development and employment.
The Act specifies that an independent director must not have or had any pecuniary relationship with the
company, its holding, subsidiary or associate company or their promoters or directors, during the two
immediately preceding financial years or during the current financial year. Even minor pecuniary relationships
were covered due to this provision even though such transactions may not impact independence of directors.
The report proposes to introduce a threshold for pecuniary relationships in relation to qualification for an
independent director. This would further ease the implementation of provision for appointment of independent
director by companies.
Threshold has been proposed for punishment for fraud to avoid misuse of provision; frauds involving amounts
below specified limits which do not involve public interest to be given differential treatment and
compoundable. Penalty/fine proposed to be reduced in case of non-compliance with various sections of the
Act.
The Committee also recommended certain changes specifically for encouraging start-ups which include
reducing compliance burden on account of private placement procedure, permitting start-ups to raise
deposits for its initial five years without any upper limits, to issue ESOPs to promoters working as employees
etc.
Sources: the hindu.
Other categories:
Red category: Includes Cement industry, Petrochemicals, pharmaceuticals, sugar, paper and pulp, nuclear
power plants, organic chemicals, fertilizers, fire crackers.
Orange category: Includes coal washeries, glass manufacturing, paints, stone crushers, and aluminium and
copper extraction from scrap.
Green category: Includes aluminium utensils, steel furniture, soap manufacturing and tea processing.
The categorisation is based on a pollution index developed by the environment ministry taking into account the
emissions, effluents, and hazardous waste generated, and the resources it consumes. Industries scoring 60 and
above on a scale of 1 to 100 have been rated red. An index between 41 and 59 earns an orange category,
while a score between 21 and 39 gets a green. Pollution index lower than 20 have been rated white.
Sources: pib.
SBI in Myanmar
The State Bank of India has been given preliminary approval to open 100% -owned branches in Myanmar.