Current Affairs Mar 2018 - Committees
1 - Government constituted a Steering Committee on Fintech Related Issues
A Steering Committee was constituted under the Chairmanship of Secretary, Department of Economic Affairs (DEA), Ministry of Finance. The Steering Committee will also focus on how Fintech can be leveraged to enhance financial inclusion of MSMEs and consider various issues relating to development of Fintech space in India.
Central Board of Excise and Customs (CBEC) member would be the Chairperson of committee. It would also comprise four secretaries, one CEO from UIDAI, deputy governor from RBI and one joint secretary.
2 - Centre constitutes Mahanadi Water Disputes Tribunal
The Ministry of Water Resources, River Development and Ganga Rejuvenation has constituted the Mahanadi Water Disputes Tribunal. The Tribunal will have its headquarters at Delhi and will have the following members nominated by the Chief Justice of India −
- Mr Justice A.M. Khanwilkar, Judge, Supreme Court of India as Chairman
- Dr Justice Ravi Ranjan, Judge, Patna High Court as Member
- Mrs Justice Indermeet Kaur Kochhar, Judge, Delhi High Court as Member
3 - Government constituted committee to probe illegal cultivation of HT Cotton
The Union Government has constituted a committee to investigate into illegal cultivation of Herbicide Tolerant (HT) or BG-III cotton in the four states of Andhra Pradesh, Telangana, Gujarat and Maharashtra. Department of Biotechnology in the Ministry of Science and Technology has constituted a Field Inspection and Scientific Evaluation Committee (FISEC).
Genetic Engineering Approval Committee (GEAC) of the Ministry of Environment has not approved the cultivation of BG-III or HT cotton.
4 - EAG submits report for Improvement and Strengthening of Internal Audit Systems and Processes in Rural Development Schemes
An Expert Advisory Group (EAG) was constituted by the Ministry of Rural Development for recommending measures aimed at expanding and deepening the application of the internal audit function across programmes at all levels of implementation. The EAG has submitted its report to Shri Narendra Singh Tomar, Minister for Rural Development, Panchayati Raj and Mines.
The Expert Group has given a road map for establishing the internal audit function as an instrument for enhancing efficiency and effectiveness of MoRD schemes. It suggests measures for strengthening internal audit as an instrument of management control across programmes up to grassroots level.
5 - Government sets up task force to draft new Direct Tax Law
The Union Government has constituted a task force to review the Income-tax Act, 1961 and to draft a new Direct Tax Law in consonance with the economic needs of the country. The convenor of the eight-member committee will be Arbind Modi, Member, Central Board of Direct taxes (CBDT). Arvind Subramanian, Chief Economic Advisor to the Finance Ministry will be a permanent Special Invitee in the Task Force.
The new legislation will be drafted keeping in mind the direct tax system in other countries, international best practices and the economic needs of the country.
