Current Affairs India - 28 October 2015

1. India has improved its position to 130th rank among 189 countries in the World Bank's 2016 rankings in terms of ease of doing business compared to 140th rank as per last year-s ranking, as per latest report entitled -Doing Business 2016: Measuring Regulatory Quality and Efficiency- published by the World Bank today. As per the report, India made the biggest improvement among the South-Asian countries in business regulations. Also the number of days to start a business was reduced to 29 days in 2015 compared to much longer 127 days in 2014. This is a significant improvement for India.

Singapore secured No 1 rank in the ranking in terms of ease of doing business followed by New Zealand, Denmark, South Korea and Hong Kong in first 5 places.

2. The Union Government has formed RV Easwar Committee in order to simplify the provisions of the Income Tax Act, 1961. The committee will be headed by Justice RV Easwar (Retd.), former Judge of Delhi High Court and former President of ITAT. The members of the committee are VK Bhasin, Vinod Jain, Rajiv Memani, Ravi Gupta, Mukesh Patel, Ajay Bahl, Pradip P. Shah, Arvind Modi and Dr. Vinay Kumar Singh.

The committee will study and identify the provisions/phrases in the Act which are leading to litigation due to different interpretations and to study and identify the provisions which are impacting the ease of doing business.

3. Students of India's premier Film and Television Institute have called off their 139 days' old strike in Pune today. Even if the strike was called off the students will continue to protest against the appointment of Gajendra Chauhan as chairman and also against the appointments of four other members of Governing Council. The students, who have been protesting since 12th June also said that they are not ready for any talks with government officials until these appointments are cancelled.

4. The Government has appointed senior Indian Revenue Service officer Najib Shah as Chairman, Central Board of Excise and Customs. He was appointed as Member of the indirect taxes board in May this year. He was acting Chairman of the CBEC after Kaushal Srivastava retired in May this year.

5. Jammu and Kashmir will host South Asian Rugby 7-S Championship in June 2016, as per announcement made by the Minister for Youth Services and Sports Molvi Imran Raza Ansari. The decision was made during the 131st Standing Committee meeting of J-K State Sports Council, which was chaired by Ansari.