Current affairs 04 August 2024

Doppler Radar to Be Installed in Lahaul-Spiti for Weather Forecasting.

• An X-band Doppler weather radar will be installed in Lahaul-Spiti, Himachal Pradesh, by December 2025 to enhance weather forecasting and disaster management in the region.
• Currently, 3 Doppler radars are operational in Himachal Pradesh, with a total expenditure of Rs 13.87 crore for their installation and operation.
• The new radar will provide accurate data on weather and potential disasters.

Record 7.28 Crore Income tax returns Filed for 2024-25 by July 31.

• A record 7.28 crore ITRs have been filed for 2024-25 by July 31, marking a 7.5% increase from the previous year.
• Of the total ITRs, 5.27 crore were filed under the New Tax Regime, while 2.01 crore were under the Old Tax Regime, with 72% of taxpayers choosing the new regime.
• The peak filing day was July 31, with over 69.92 lakh ITRs submitted, and 58.57 lakh ITRs came from first-time filers.

Govt permitted 100% FDI for Aircraft MRO via Automatic Route.

• The government allows 100% Foreign Direct Investment via the automatic route for aircraft Maintenance, Repair, and Overhaul (MRO) to boost the sector.
• A uniform 5% IGST rate on imports of aircraft parts and tools is introduced, enhancing competitiveness and efficiency.
• Policies include extended export periods, reduced GST, exempted customs duty, and simplified clearance processing.

Jharkhand Assembly passed Bill to levy cess on mined minerals.

• The Jharkhand Assembly approved the Jharkhand Mineral-Bearing Land Cess Bill 2024 to impose a cess on mined minerals, aiming to boost state revenue.
• This follows the Supreme Court's ruling affirming states' legislative power to tax mineral rights.
• The bill was introduced by Mining Minister Mithilesh Thakur and passed by a voice vote.

HDFC Securities, Vested Finance partnered for NRI Global Investing.

• HDFC securities partnered with Vested Finance to offer global investment opportunities for Indians and NRIs, enhancing client investment experiences with features like simplified fund transfers and tailor-made US investment portfolios.
• The collaboration introduces Global Investing 2.0, providing tools like SIPs, extended trading hours & advanced analysis tools for informed decision-making.