News Update

Finance Commission concludes deliberationsGovt working on production-linked sops for more sectorsOfficers who are invested with powers u/s 53 of the NDPS Act are 'police officers' within the meaning of s.25 of the Evidence Act: SC by MajorityCus - 200% Customs duty on imports from Pakistan not applicable as goods entered territory of India prior to the issuance/uploading of the notification 5/2019-Cus dt. 16.02.2019 at 8.45 pm: HCIDS - Input Services & capital goods - Awaiting their fateCus - Kerala gold smuggling case - Power of Customs Department to question applicant u/s 108 cannot be curtailed by granting anticipatory bail: HCStatement recorded u/s 67 cannot be used as a confessional statement in the trial of an offence under the NDPS Act: SC by MajorityCOVID-19 - Second wave is back with vengeance - Over 5 lakh daily global caseload is backFinance Commission to submit its report to President of India on Nov 9ITR filing - CBDT extends due date including that of Audit reportST - Advertisement and Business Promotion, Bank Charges, Brokerage, Housekeeping Services, Insurance Service, Legal and Professional Service, Manpower Consultancy Service, Security services, Telephone & Internet Services are Input services; credit admissible: CESTATCOVID Effect - Devolution of taxes - States get Rs 51K Crore less so farPakistan wittingly admits a hand in Pulwama terror attackCX - Once the proportionate reversal of CENVAT credit takes place, it tantamounts to non-availing of credit: CESTATCus - Ignorance of law and cooperation in investigation are mitigating factors & per se cannot take away the guilt of attempting to bring goods into India without payment of duty: CESTATGovt issues draft 'Coastal Shipping Bill, 2020' for public consultation47-day delay in filing appeal is condoned where caused by the assessee having to change the legal counsel handling the matter: ITAT'Filthy Air' Saga - Is it not a case of Pot calling Kettle black!Penalty notice issued u/s 271(1)(c) r/w Section 274 is sustainable where the AO omits to strike off the relevant charge u/s 271(1)(c), for which such penalty was imposed: ITATGovt exempts cash allowance of Rs 36K towards LTC of non-Govt employeesPenalty in respect of bogus purchases, cannot be levied where it is based on an estimation of the assessee's income from such purchases: ITATGST - DGGI nabs man accused of Rs 392 Cr ITC fraudBank credit grows by over Rs one lakh crore in Sept monthIncome tax raids real estate developer; finds dummy companies with investment overseasGST - Another kingpin nabbed in Rs 1278 Cr ITC fraudUS economy recovers in Q3 - grows at 7.4%Govt reduces tariff value of gold and silver but hikes the same for edible oilsPatient Assistance Proramme - Drugs of many companies exempted from Customs dutyCore Sector output shrinks by 0.8% in Sept monthCabinet approves extension of norms for mandatory packaging in Jute MaterialsPradhan invites Global Oil & Gas majors to partner India in energy transition
 
COVID-19: Japan commits Rs 3,500 crore as ODA for health sector

 

By TIOL News Service

NEW DELHI, SEPT 01, 2020: THE Govt of Japan has committed Official Development Assistance loan of an amount of JPY50 billion (approx. Rs. 3,500 crore) for the COVID-19 Crisis Emergency Response Support. The Notes were exchanged today between Dr. C.S. Mohapatra, Additional Secretary, Department of Economic Affairs, Government of India, and Mr. Suzuki Satoshi, Ambassador, Embassy of Japan to India for a Health sector programme loan to fight the COVID-19 crisis.

Subsequent to the Exchange of Notes, Loan Agreement for this programme loan was signed between Dr. C.S. Mohapatra, Additional Secretary, Department of Economic Affairs, Ministry of Finance, Government of India and Mr. Katsuo Matsumoto, Chief Representative, JICA, New Delhi.

This programme loan aims to support India's efforts in fighting COVID-19 and to prepare the health system to manage future epidemics and also to improve the resilience of India's health systems against infectious diseases.

In addition, Notes were also exchanged today between Dr. C.S. Mohapatra, Additional Secretary, Department of Economic Affairs, and Mr. Suzuki Satoshi, Ambassador, Embassy of Japan to India for Grant Assistance of an amount of JPY 1 billion (= approx. Rs. 70 crore) from Government of Japan .

This Grant-in-aid from Government of Japan is for providing medical equipment to strengthen the public health and medical system in India. This will strengthen the health care facilities for managing critical and serious patients suffering from COVID-19 infection.

India and Japan have had a long and fruitful history of bilateral development cooperation since 1958. In the last few years, the economic cooperation between India and Japan has strengthened and grown into strategic partnership. This further consolidates and strengthens the Strategic and Global Partnership between India and Japan.


POST YOUR COMMENTS