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GST - Profiteering - While the petitioner wants to pay, the State CWFs are neither operational nor functional - Strange : HCJoe Biden promises Commission to recommend changes to Supreme CourtGST - Anti-Profiteering - Directions of NAA to undertake further investigation with regard to other projects, notice and summons issued by respondent stayed: HCBihar Polls - BJP manifesto promises 19 lakh jobs + free-vaccination for COVID-19 + lentils under MSPCus - Notification prohibiting export was uploaded digitally on 14.09.2020 at 22:28:11 hours - Export of onions in respect of shipping bills which were presented and generated prior to this date/time shall be allowed: HCBihar CM Sushil Modi tests positive for CoronavirusCus - When the Court is in session of a matter, an administrative or executive authority cannot start parallel proceeding on very same subject matter at its own ipse dixit and record finding: HCSutherland 'take two' and the Transition of Cess (See 'TOG Insight' in Taxongo.com)Govt to go for graded relaxation in visa and travel restrictionsTax Returns & Politicians - They necessarily make quaint & strange bedfellows!Amendment to Rule 142(1A) is anti-taxpayerCBIC grants Customs & Excise duty exemption to goods imported against duty credit scrip under RoSLVAT - Orders directing recovery of duty from an assessee are unsustainable, where they are non speaking orders & contravene the principles of natural justice: HCCus - CBLR - It is established principle of law that mere facilitation without knowledge of consequences, would not amount to abetting an offence: CESTATIFSCA prescribes regulatory framework for REITs and InvITs in IFSCCX - Only for reason that M/s Vedanta paid duty amount much prior to issue of SCN & without contesting went for settlement, no adverse inference can be drawn so as to deny CENVAT availed by their consignee on supplementary invoices: CESTATGlobal trade to shrink by 9%, says UNCTADST - Insurance service provided to banks by Deposit Insurance Corporation, qualifies as input service - CENVAT credit can be availed of service tax paid by banks for such service provided to them in course of rendering output services: CESTATPM to meet global fund houses to woo FDI inflowsCus - SCN has tripped upon itself in its haste to carry the impugned goods beyond the scope of eligibility of the exemption notification: CESTATSearch assessment order passed u/s 153A is unsustainable where no material incriminating the assessee is found in course of search proceedings: ITATMaharashtra Govt revokes standing approval granted to CBI to enter State for probesClub expenses incurred by assessee cannot be allowed as business expenses, where they are found to have been incurred for personal use: ITATECI sets up panel to examine issues concerning expenditure limitsProviso to section 36(1)(iii) mandates capitalization of interest only in respect of capital assets purchased out of borrowed funds: ITATLimitation period of six months for deciding the application for registartion u/s 12AA is applicable to remanded matters: ITATIncome tax raids two govt contractors; detects bogus claimsPure consultancy services (without supply of goods) provided to private individuals is taxable @18%: AARProliferate Litigation as much as you can
 
IEA, NITI Aayog launch Report on Sustainable Recovery

By TIOL News Service

NEW DELHI, SEPT 22, 2020: AGAINST the backdrop of the ongoing Covid-19 crisis, International Energy Agency (IEA), in collaboration with NITI Aayog, presented a ‘Special Report on Sustainable Recovery' on 18 September 2020.  

Part of IEA's flagship World Energy Outlook series, the report proposes a number of actions that could be taken over the next three years to revitalize economies and boost employment while making energy systems cleaner and more resilient.

The report was virtually launched by IEA Executive Director Dr Fatih Birol and NITI Aayog CEO Amitabh Kant, in the presence of Minister of Railways and Minister of Commerce and Industry Piyush Goyal.

IEA Chief Energy Modeller Laura Cozzi presented the key findings, and Chief Economic Adviser Krishnamurthy Subramanian was also present during the launch.  

Congratulating the IEA, Union Minister Piyush Goyal said this is the right time to move forward and prepare ourselves for a resilient and sustainable future, as rightly pointed out in the report. He mentioned that the current crisis should be used as an opportunity to make energy transitions smoother, faster, more resilient and affordable. He added that to this end, Indian Railways is committed and confident for 100% electrification by December 2023 and becoming net zero emitter by 2030.

As governments around the world respond to Covid-19, the IEA's report, prepared in cooperation with IMF, details energy-focused policies and investments that could help boost economic growth, create jobs and put emissions into structural decline while making energy systems lower-cost, secure and resilient.

‘Post the 2008–09 financial crisis, green measures accounted for around 16% of the total stimulus measures. To recover from the pandemic, we must be even more ambitious and decisive towards clean investments. Given that need, IEA's Sustainable Recovery Plan has a very useful role in guiding governments, businesses, technologists and other key decision-makers. NITI Aayog has been championing sustainable initiatives since its inception. The SDG indices, Electric Mobility Mission, ACC battery scheme and our leadership in methanol economy initiatives, stand testament to NITI Aayog's commitment to the sustainable causes,' said CEO Amitabh Kant.

Dr Fatih Birol agreed and added, ‘Even though Covid-19 has made 2020 such a grim year, I see increasing grounds for optimism for clean energy transitions globally. This is in part due to solar energy becoming even more competitive, thanks to efforts by countries like India. Our Sustainable Recovery Plan shows governments how to tackle today's major economic, energy and climate challenges simultaneously. The key opportunities for India include increasing support for electric vehicles, continued investment in the power sector, and improving energy access in rural areas through improvements to the clean cooking programme.'

Chief Economic Adviser Dr KV Subramanian discussed India's economic situation and path to recovery and mentioned that the pandemic has highlighted the role of sustainable economic development and India is at the forefront of this effort.

The report mentions key sectors for creating jobs: electricity, transportation, buildings, industry and sustainable biofuels and innovations. A combination of policy actions and targeted investments will offer huge benefits to the economy and generate jobs. However, the measures highlighted in the report remains the sovereign choice of the country.


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