In Uttar Pradesh, the police has lodged an FIR against BJP MP, Yogi Adityanath this morning for defying an election commission ban and going ahead with public addresses in Lucknow last evening. Chief Electoral Officer of the state, Umesh Sinha sought a report from the District Administration of Lucknow. According to official sources, recording of Adityanath’s speech will be handed over to the Election Commission today. Earlier, the Election Commission issued a show cause notice to the BJP MP for violating the model code of conduct by making allegedly inflammatory remarks while campaigning for assembly by polls in Noida.
Tamil Nadu Chief Minister Jayalalithaa has sought support of all her counterparts for her view that the Central government should strive for broad consensus on the issue of Goods and Services Tax, GST.
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DOWNLOAD DICTATION TRANSCRIPTION PDF FILE – Dictation Transcription
In a letter to the chief ministers of all the States, Jayalalithaa said, the Center should strive for a broad consensus on the important issues relating to GST without compromising the fiscal autonomy of the States. She said manufacturing States like Tamil Nadu stand to permanently lose substantial revenue if GST is implemented, due to the sudden shift of levy from the point of origin to the point of destination. She said the dual levy of tax – by the State and the GST – is not acceptable.
Ms. Jayalalithaa also enclosed her letter to Union Finance Minister Arun Jaitley wherein she had raised the apprehensions of the State over the loss of fiscal autonomy and permanent loss of revenue.
Ms. Jayalalithaa, suggested that an independent compensation mechanism and methodology should be enshrined in the constitution for revenue losses suffered by the States.
Government can exceed its target of earnings from disinvestment in public sector companies in the current financial year if the revenue expected from sale of shares in Coal India Limited, NHPC and ONGC is realised. Yesterday, the Cabinet Committee on Economic Affairs (CCEA) approved the sale of stake in the three companies to garner about forty four thousand crore rupees. Speaking to AIR senior Economist BB Bhattacharya said it is a welcome step by the Government.
The Cabinet decision to disinvest is a positive step because it is high time the government uses some of their monoply powers and encash them for covering the fiscal deficit. One good thing about the government decision is it will not be sold entirely to the big players but also 20 percent to be sold through the share markets to the retail investors. But more important step would be to improve the management of the companies, so that in the long run the private capital brings in not merely the resources but also improve overall productivity and efficiency. Finally the government should utilise these resources to improve further infrastructure in the country.”
Revenue earnings of Railways has gone up by 12.53 per cent during the first five months of this fiscal. The total approximate earnings during the period were about 61,325 crore rupees compared to 54,497 crore rupees during the same period last year.