Rs 146 Cr loss due to Tauktae, says CM
Chief Minister Pramod Sawant said that the State has incurred losses amounting to Rs 146 crore due to cyclone Tauktae. A detailed report will be submitted to the Union government.
Further, Sawant mentioned that the electricity and agriculture sector have suffered the most losses. “The electricity department has pegged preliminary losses at nearly Rs 22 crore, but we will know the actual figure when we prepare the final report for submission to the Centre”. Sawant also stated that they have prepared a letter to send to the National Disaster Management Authority for compensation. The Chief Minister said that agricultural activities had been severely affected due to cyclonic winds and heavy rainfall and the Agricultural Department has pegged the losses to Rs 30 crore.
The fisheries sector has also suffered major losses what with fishing canoes, boats, nets and other equipment have been damaged. Sawant said that the fishermen could not venture into the sea for the last 4-5 days. The other losses include damage to schools belonging to the education department and to private and forest department properties and agricultural crops. Nearly 500 houses have been damaged, of which some need major repairs. Several roads and other structures have been damaged. Bardez in North Goa and Mormugao in South Goa have been majorly affected due to the cyclone. Electricity and telecommunication networks were jammed for over a week due to the cyclone.
Deadline to file Income Tax Returns extended
The Government has extended the due date for filing income tax returns for assessment year 2021-22 by two months, to September 30, 2021 from the existing deadline of July 31, 2021, while giving extension to tax audit and 12 compliance deadlines for FY 21 to provide relief to taxpayers due to Covid pandemic. “The Central Government, in continuation of its commitment to address the hardship being faced by various stakeholders on account of the severe Covid-19 pandemic, has, on consideration of representations received from various stakeholders, decided to extend timelines for compliances under the Income-tax Act,” the Central Board of Direct Taxes (CBDT) said in a statement.
The date for furnishing audit report has been extended to October 31, from September 30, for the same assessment year. For corporate taxpayers and individual taxpayers liable to tax audit, the due date of filing return for AY 2021-22 has been extended to November 30 from October 31.
In the same case, the returns of income for AY 2021-22 can be filed by December 31, 2021. The due date for transfer pricing certificate has been pushed by a month to November 30, from October 31. Taxpayers can file income tax returns belatedly by January 31, 2022, instead of earlier deadline of December 31, 2021.
The statement of deduction of tax for the last quarter of the FY21 can also be submitted by June end, the deadline has been extended by a month. Certificate of tax deducted at source or TDS in Form No 16, which companies provide to employees by June 15, can be furnished on or before July 15, 2021
CM’s fellowship scheme to hire young professionals for Rs 30,000
The Goa Government has issued a notification announcing the ‘Chief Minister’s Fellowship Programme’, under which young professionals will be hired to allow them familiarity with day to day governance.
A monthly stipend of `30,000 will be paid to the chosen fellows during 11 of the 12 months period of fellowship. The selection will be done based on essays written by the fellows, among other criteria.
The scheme will be in force for 3 years and is designed ‘to provide valuable experience to youth interested in the social and economic development of the State’. Every year, 10 fellows will be taken on board for a period of one year. The Directorate of Planning, Statistics and Evaluation, which is the implementing body for the scheme, will decide on the nature of work and the departments in which the fellows will work.
Interested applicants should have at least a Bachelor’s degree in any stream, and preference will be given to post-graduates. Applicants should be between 21 to 27 years old, with knowledge of Konkani and English, which will be an essential.
The selection process will be carried out in four stages, with an initial screening carried out to test their general aptitude and knowledge on current topics affecting the State, general awareness on social and economic issues, use of IT and data interpretation. Shortlisted candidates will then have to write an essay on a subject affecting the State, indicating the issues involved and the probable suggestive solutions. Based on the assessment of this essay, a selected list of candidates will be prepared, who will be required to appear for a viva voce before a selection committee appointed for the purpose
Bonanza for Government as RBI approves Rs 99,122 Cr payout
The RBI has approved a Rs 99,122 crore dividend payout to the government for an accounting period of nine months ended March 31, 2021. The amount is more than 73% higher than the previous year’s Rs 57,128 crore dividend, despite the period being only nine months due to a change in accounting year to April-March.
The dividend is also higher than what the government had expected for FY 21 in its Budget which was announced in February this year. The central government had estimated Rs 53,510 crore as dividend from the RBI and other public sector banks for FY 21 as against a dividend income of Rs 61,826 crore in FY20. The windfall will help the government with the revenue shortfall arising out of lower tax collections due to the lockdown induced by the resurgence of the pandemic in April-May 2021. The RBI said that its central board approved the payout in its 589th meeting held through a video conference.
It added that the dividend was paid out after ensuring that its contingency risk buffers were at 5.5% of its balance sheet. Unlike commercial banks, the RBI generates a higher surplus during adverse financial conditions as it has to rapidly intervene in the money and foreign exchange market
