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UAE’s Golden Visa Scheme A Bollywood actor has recently received a golden visa from the UAE government. What is the Golden Visa? The Golden Visa system essentially offers long-term residency (5 and 10 years) to people belonging to the following groups: investors, entrepreneurs, individuals with outstanding talents the likes of researchers, medical professionals and those within the scientific and knowledge fields, and remarkable students. The main benefit of the visa will be security. The UAE government has made it clear that they are committed to providing expatriates, investors and essentially everyone looking to make the UAE their home an extra reason to feel secure about their future. Who are eligible to apply? For the 10-year visa, investors having no less than AED (Dirham) 10 million worth of public investment, either in the form of an investment fund or a company, can apply. However, at least 60 per cent of the total investment must not be in the form of real estate and the invested amount must not be loaned, or in case of assets, investors must assume full ownership. The investor must be able to retain the investment for a minimum of three years as well. The long-term visa can also include the holder's spouse and children, as well as one executive director and one advisor. In addition to the aforementioned, foreign nationals who are looking to set up their business in the UAE may also apply for permanent residency (5 years) through the Golden Business Visa scheme. Perks for the talent Besides entrepreneurs, individuals with specialized talent can also apply for the visa. They include doctors, researchers, scientists, investors and artists. These individuals may be granted a 10-year visa following accreditations granted by their respective departments and fields and the visa will also be extended to their spouses and children. Exceptional high school and university students are eligible for a 5-year residency visa in the UAE. 🍁🍁🍁🍁🍁🍁🍁🍁🍁🍁 Join >> @dailynewscom Join >> @NitishPatelOfficial

What is Global Minimum Corporate Tax? The US has anticipated support from the G7 industrial democracies for the Biden Administration's proposed 15%-plus global minimum corporate tax. Multinational corporations rather monopolies don't like to pay their fair share of taxes. They'll do everything in their power to exploit loopholes and minimize their tax liability. Most companies simply open offices in destinations where tax rates are low or negligible. And at the end of it all, they'll have done just enough to avoid paying billions of dollars in taxes. Global Minimum Corporate Tax Major economies are aiming to discourage multinational companies from shifting profits - and tax revenues - to low-tax countries regardless of where their sales are made. Increasingly, income from intangible sources such as drug patents, software, and royalties on intellectual property has migrated to these jurisdictions. This has allowed companies to avoid paying higher taxes in their traditional home countries. With a broadly agreed global minimum tax, the Biden administration hopes to reduce such tax base erosion without putting American firms at a financial disadvantage. How would such tax work? The global minimum tax rate would apply to companies' overseas profits. Therefore, if countries agree on a global minimum, governments could still set whatever local corporate tax rate they want. But if companies pay lower rates in a particular country, their home governments could "top-up" their taxes to the agreed minimum rate, eliminating the advantage of shifting profits to a tax haven. The Biden administration has said it wants to deny exemptions for taxes paid to countries that don't agree to a minimum rate. Back2Basics: Base Erosion and Profit Shifting (BEPS) BEPS refers to corporate tax planning strategies used by multinationals to "shift" profits from higher-tax jurisdictions to lower-tax jurisdictions. It thus "erodes" the "tax base" of the higher-tax jurisdictions. Corporate tax havens offer BEPS tools to "shift" profits to the haven, and additional BEPS tools to avoid paying taxes within the haven. It is alleged that BEPS is associated mostly with American technology and life science multinationals. 🍁🍁🍁🍁🍁🍁🍁🍁🍁🍁 Join >> @dailynewscom Join >> @NitishPatelOfficial

Mekedatu Project The National Green Tribunal (NGT), Southern Zone has appointed a joint committee to look into allegations of unauthorized construction activity taking place in Mekedatu, where the Karnataka government had proposed to construct a dam across the Cauvery River. What is the Mekedatu Project? Mekedatu, meaning goat's leap, is a deep gorge situated at the confluence of the rivers Cauvery and Arkavathi, about 100 km from Bengaluru, at the Kanakapura taluk in Karnataka's Ramanagara district. In 2013, then Karnataka announced the construction of a multi-purpose balancing reservoir project. The project aimed to alleviate the drinking water problems of Bengaluru and Ramanagara district. It was also expected to generate hydro-electricity to meet the power needs of the state. Issues with the project Soon after the project was announced TN has objected over granting of permission or environmental clearance. Explaining the potential for damage to the lower riparian state of TN, it said that the project was in violation of the final award of the Cauvery Water Disputes Tribunal. It stated that the project will affect the natural flow of the river Cauvery considerably and will severely affect the irrigation in TN. 🍁🍁🍁🍁🍁🍁🍁🍁🍁🍁 Join >> @dailynewscom Join >> @NitishPatelOfficial

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China Pakistan Relationship | 70 years friendship | Two front war at India | CPEC | Uyghur Muslims https://youtu.be/7Dq1sGnz460

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🏭The Index of Industrial Production (IIP) : • The Index of Industrial Production (IIP) is an index that shows the growth rates in different industry groups of the economy in a fixed period of time. • It is compiled and published monthly by the National Statistical Office (NSO) [formerly known as Central Statistical Organisation (CSO)] which operates under the Ministry of Statistics and Programme Implementation. • IIP is a composite indicator that measures the growth rate of industry groups classified under:   ● Broad sectors namely - Mining, Manufacturing, and Electricity.   ● Use-based sectors namely - Basic Goods, Capital Goods, and Intermediate Goods. • The eight core sector industries represent about 40.27% of the weight of items that are included in the IIP. • The eight core industries in decreasing order of their weightage: Refinery Products (28.04 %)> Electricity (19.85 %)> Steel (17.92 %) > Coal (10.33 %)> Crude Oil (8.98 %)> Natural Gas (6.88 %)> Cement (5.37 %)> Fertilizers (2.63 %). • Base Year for IIP calculation is 2011-2012. Significance of IIP: • IIP is the measure on the physical volume of production. • It is used by government agencies including the Ministry of Finance, the Reserve Bank of India, etc, for policy-making purposes. • IIP remains extremely relevant for the calculation of the quarterly and advance Gross Domestic Product (GDP) estimates. IIP Vs ASI : • While the IIP is a monthly indicator, the Annual Survey of Industries (ASI) is the prime source of long-term industrial statistics. • The ASI is used to track the health of industrial activity in the economy over a longer period. The index is compiled out of a much larger sample of industries compared to IIP. • The IIP essentially tracks the change in the volume of production in Indian industries.

SARS-CoV-2 Virus variant names by WHO : • The World Health Organization announced a new naming system for the variants of interest  and concern, (VoI and VoC) of SARS-CoV-2 Virus with important mutations. • As an infected cell builds new coronaviruses, it occasionally makes tiny copying errors called mutations. • A group of coronaviruses that share the same inherited set of distinctive mutations is called a variant. • Every variant would be given a name from the Greek alphabet. • Naming the variants helps to simplify the public discussion and remove the stigma arising from the emergence of new variants. • As per the WHO, any country would willingly inform the existence of the virus variant if the new version would be non-stigmatic like Sigma or Rho instead of carrying the country's name. • B.1.1.7 variant would be known as Alpha which was first identified in Britain. • The B.1.351, identified in South Africa would be named Beta. • The variant P.1 detected initially in Brazil is called Gamma and P.2 variant is called Zeta. • B.1.671.2 found in India would be called Delta and the earlier found variant B.1.617.1 in the country would be known as Kappa.

Biggest contraction in GDP | Impact of COVID-19 | Is this India's darkest year? What is Recession? https://youtu.be/0m98B9GEa0w

BRICS : • BRICS is an acronym for 5 emerging economies of the world – Brazil, Russia, India, China, South Africa. The term BRIC was coined by Jim O’ Neil, the then chairman of Goldman Sachs in 2001. • The first BRIC summit took place in the year 2009 in Yekaterinburg (Russia). • Initially, it was known as BRIC but later on, South Africa joined this group in the year 2010 and making it BRICS. • BRICS is an important grouping bringing together the major emerging economies from the world, comprising 41% of the world population, having 24% of the world GDP and over 16% share in the world trade. BRICS countries have been the main engines of global economic growth over the years. • BRICS does not exist in form of organization, but it is an annual summit between the supreme leaders of five nations. • The BRICS Leaders’ Summit is convened annually. • The chair of BRICS 2021 is India. India hosted the 13th BRICS summit in 2021. • The theme for 13th BRICS summit 2021 this year is ‘BRICS @ 15: Intra-BRICS Cooperation for Continuity, Consolidation and Consensus’. • The main objectives of the grouping is broadening, deepening, and intensifying cooperation among the member countries for mutually beneficial, sustainable and equitable development, providing financial assistance to member nations, development of the member nations, cooperate with the member nations for trade and development, support projects and infrastructure of the member nation. • It also provides financial assistance to countries other than its members. • BRICS takes into consideration each member’s growth, development and poverty objectives to ensure relations are built on the respective country’s economic strengths and to avoid competition where possible. • Over a period of time, BRICS countries have come together to deliberate on important issues under the three pillars of political and security, economic and financial, and cultural and people to people exchanges. • The Chairmanship of the forum is rotated annually among the members, in accordance with the acronym B-R-I-C-S. • NEW Development Bank (NDB) is established by the member nations to support projects through loans, guarantees, and other financial instruments. Its headquarters is in Shanghai, China.

BRICS :

📰 News : BRICS will help India in fighting COVID-19. • BRICS - Brazil, Russia, China, South Africa. • India is the chair of BRICS for 2021, when the organisation completes its 15th year of existence.

India becomes 2nd-largest source of FDI in UK, India UK Relationship 2021, #Geopolitics Geopolitics India UK https://youtu.be/Lx8-alfGByA

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