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Daily News Analysis 12-05-2016







Closing the tax bolthole (Page 10)

a)     I.R

a)     More than three decades and several billions of dollars of lost revenue after India entered into a bilateral Double Taxation Avoidance Agreement with Mauritius, the two countries have finally renegotiated the terms of their agreement. The signing of the protocol for amending the treaty means that with effect from April 1 2017, companies and investors resident in Mauritius will have to pay capital gains tax on the sale of shares purchased in a company based in India.


New Mauritius treaty signals end of shopping for tax havens (Page 16)

a)     I.R

b)     Economy

a)     Indias move to plug suspected losses in tax revenue through Mauritius has not sent financial markets into a tailspin as it would have just a few years ago. India will start imposing capital gains tax on investments coming from Mauritius starting next year, after the two countries agreed to amend a three-decade old treaty.


A bridgehead to service Silk Road (Page 14)

a)     International

a)     Tucked away in the Qin Wangchuan Basin in northwestern China is the Lanzhou New Area, a vast industrial hub that is becoming the bridgehead for threading Central and West Asia in Beijings lofty One Belt, One Road connectivity project. The brand new industrial zone will service an extensive hinterland with well connected transport nodes.


Presidents Rule lifted, Rawat to be CM again (Pages 1 and 12)

a)     National

b)     Polity

a)     The Supreme Court on May 11th put its stamp of approval on the vote of confidence won by Harish Rawat in the Uttarakhand Assembly, even as the Centre revoked Presidents rule, paving the way for him to take over as Chief Minister again.


Lessons from Uttarakhand (Page 10)

a)     National

b)     Polity

a)     Former Uttarakhand Chief Minister Harish Rawats victory in the floor test was a foregone conclusion after the Supreme Court barred nine dissident Congress legislators from participating in the confidence vote. The result brings an end to the BJPs political misadventure in exploiting the dissidence within Congress and attempting to install a government either run or backed by defectors.


A tale of two judgments (Page 10)

a)     National

b)     Polity

a)     Two recent rulings (one decided by the Supreme Court and the other by the Bombay High Court) hark back to a key debate during the writing of the Indian Constitution about the incorporation of the American doctrine of substantive due process.


Domestic violence Act misused: Centre (Page 12)

a)     National

b)     Polity

a)    The government told the Rajya Sabha that some times provisions of the Domestic Violence and Anti-Dowry Acts were misused and several NGOs had also given reports supporting it.


Insure farmers against climate change (Page 11)

a)     National

b)     Social issue

a)     Migration patterns, farmer suicides, stagnating rural incomes and ad-hoc land acquisition have politicised the idea of climate mitigation.


Govt to define new employees for EPS (Page 15)

a)     National

b)     Economy

a)     The Finance Minister had said the govt had decided to pay 8.33 percent of wages to Employees Pension Scheme on behalf of employers for workers during first three years of employment for which an allocation of Rs. 1000 crore had been made in the Budget under the scheme, Pradhan Mantri Rojgar Protsahan Yojana.


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