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1 465
4th and final meeting of Trade and Investment Working Group of G 20 to take place in Jaipur from August 21
The fourth and final meeting of the Trade and Investment Working Group of G 20 will take place in Jaipur from today. After this, the Ministerial level meeting of the Trade and Investment Group will be held in Jaipur on 24th and 25th August. Both meetings will be attended by over 300 delegates, including G20 member states, Trade Ministers and Secretaries of invited countries, heads of regional groupings and delegations of international organizations.
The five priority issues - Trade for Growth & Prosperity, Resilient Trade and GVCs, Integrating MSMEs in World Trade, Logistics for Trade and WTO Reforms will be discussed among the G20 member/invitee countries during the meetings. The focus of the meeting would be to build consensus on accomplishing action-oriented proposals put forward by the Indian Presidency on global trade and investment-related issues.
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About 55 million might opt for new tax regime, says revenue department
Around 55 million income taxpayers may have opted for the new tax regime for the ongoing financial year, according to revenue department’s preliminary estimates.
Most of these taxpayers, according to a senior government official, have a taxable income of up to Rs 7 lakh. The Centre overhauled the new tax regime in the 2023-24 Budget, making it relatively attractive. The new regime, which seeks to eliminate specific tax deductions and exemptions but offers a lower rate of taxation, struggled to gain traction since its introduction in the financial year 2020-21. “
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India prepares own carbon trading system and decarbonisation measures to counter EU’s CBAM
Initiatives include the creation of the Indian Carbon Market and encouraging industries to transition to low-carbon practices.
India is eyeing setting up its own carbon trading system apart from bringing in a series of measures and norms that push high-emission industries towards decarbonisation in order to “mitigate impact” of the Carbon Border Adjustment Mechanism (CBAM) to be implemented by the EU from October 1 this year.
Measures include “hand-holding” across some industries, bringing in specific definitions and auditing standards apart from carrying out certification processes.
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Russia’s Moon mission fails after Luna-25 crashes into moon
Russia’s Moon mission ended in failure after its spacecraft, Luna-25 spun out of control and crashed into the moon. The Russian space agency Roscosmos today said, that a preliminary analysis of Luna 25 mission suggests that a deviation between the actual and calculated parameters of the propulsion manoeuvre led to the spacecraft transitioning into an unintended orbit, resulting in its collision with the lunar surface and subsequent loss.
Roscosmos said, yesterday, in accordance with the Luna-25 flight programme, an impulse was provided to form its pre-landing elliptical orbit. At about 14:57 Moscow time, communication with the Luna-25 apparatus was interrupted. The measures taken on yesterday and today to search for the device and get in contact with it did not produce any results. A specially formed interdepartmental commission will deal with the issues of clarifying the reasons for the loss of the Moon.
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A successful landing will make India the first country to land near the Moon's little-explored south pole. It will be only the fourth country after the US, the former Soviet Union and China to achieve a soft landing on the Moon.
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Chandrayaan-3 to make soft landing on Moon on Aug 23 at around 6:04 PM
The Indian Space Research Organisation's (ISRO) ambitious mission to the Moon, Chandrayaan 3 spacecraft is scheduled to make a soft landing on the south pole of the lunar surface at around 6:04 pm (Indian Standard Time) on Wednesday. The space agency also shared that people can watch the historic event live on ISRO website, the space agency's official YouTube channel, ISRO's Facebook page and DD National from 5:27 pm onwards on 23rd of August.
Earlier this morning, ISRO announced that Chandrayaan-3’s lander module comprising lander ‘Vikram’ and rover ‘Pragyan’, has successfully completed its second and final deboosting, which reduced the lander module orbit with dimensions of 25km x 134km in the wee hours. The spacecraft’s Vikram lander successfully completed its first deboosting operation at 4 pm on August 18, reducing the lander module’s orbit to 113km x 157km
