03 FEBRUARY 2016 CURRENT AFFAIRS


Economic

Finance Ministry sets up two committees to ensure consistency in tax policies

  • Finance ministry setup a committee to ensure the tax policy, one under the Finance Ministry and the other under Revenue Secretary
  • Tax Policy Council (TRC) under Finance Ministry and Tax Policy Research Unit (TPRU) under Revenue Secretary
  • Function of TPRU is to Carry out different studies on various topics of fiscal and tax policy and assist TPC to take policy decision
  •  The committee will starts from April 1 2016
  • The TPC, to be headed by Finance Minister, would have nine members - Minister of State for Finance, NITI Aayog Vice-Chairman, Commerce Minister, Chief Economic Advisor, Finance Secretary, Revenue, DEA, DIPP and ministry of Commerce
  • TPC will look at all the research findings coming from TPRU and suggest broad policy measures for taxation
Relation

India, Thailand firm up maritime cooperation

  • India and Thailand will participate in Cobra Gold 2016 and Operation Maitri operation
  • Both nations recently held a meeting in Delhi to deepen maritime and defence cooperation
  • The delegations confirmed the Indian and Thailand will soon hold naval exercises in the Andaman Sea
  • The Nations agreed to fast track the on going trilateral corridor project connecting Thailand Myanmar and India
  • The bilateral and trilateral issues will boost when the leadership meets NewDelhi


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