PIB(15/03/2019): UPSC Current Affairs to prepare for UPSC Exam

Ministry of Finance

Signing of Bilateral Agreement for Exchange of Country-by-Country

  • Sub-section (4) of Section 286 of the Income-tax Act, 1961 requires that a constituent entity of an international group, resident in India, other than a parent entity or an alternate announcing substance of a global group, resident in India, will outfit the Country-by-Country (CbC) Report in regard of the said universal Group for a revealing bookkeeping year inside the period as might be endorsed.
  • Vide Notification in GSR 1217 (E) dated 18th December, 2018 with effect from 18th December, 2018, amendments to the Income-tax Rules.


Election Commission

Registration of political parties under Section 29A

  • Enrollment of Political parties is governed by the arrangements of Section 29A of the Representation of the People Act, 1951.
  • A gathering looking for enrollment under the said Section with the Commission needs to present an application to the Commission inside a time of 30 days following the date of its arrangement according to rules endorsed by the Election Commission of India.
  • The commission has announced the elections for the Lok Sabha and Assemblies to Andhra Pradesh, Orissa, Arunachal Pradesh on 10th March, 2019.
  • Now, therefore, if any body has any objection with regard to the registration of any political party who have published their public notice by 10th march, 2019 may file their objection against that party by 17th March, 2019.

President’s Secretariat

President of India initiates Festival of Innovation and Entrepreneurship

  • The President of India, Shri Ram Nath Kovind, inaugurated the Festival of Innovation and Entrepreneurship in Gandhinagar, Gujarat (March 15, 2019). He also presented the 10th Biennial National Grassroots Innovation Awards.
  • Speaking on the occasion, the President said that as we seek to meet important developmental goals and build a caring, inclusive and happy society,.
  • we have to draw upon the power of innovation to find solutions to India’s concerns in diverse domains such as health, education, food security, energy access, environmental protection, and national security.
  • The President said that an innovative idea in itself is not enough. It is important to ensure that a creative idea gets the support it needs for its maturing.

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