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Exam Specific Current Affairs for UPSC Aspirants – 9 February 2019

Jammu & Kashmir Government grants Divisional Status to Ladakh Region

Satya Pal Malik, the Jammu and Kashmir Governor granted the Divisional Status to Ladakh Region on February 8, 2019, while exercising its powers under Section 5 of Land Revenue Act, 1996.Leh and Kargil districts will come under The Ladakh Division, with the headquarter at Leh. Until now, the Ladakh region formed a part of the Kashmir Division of Jammu & Kashmir.

Importance

  • The Divisional status would expedite progress in the region of Ladakh in a great way
  • Ladakh has two Hill Councils, one in Leh and the other in Kargil for its administration. With the new Ladakh Division , both Leh and Kargil districts will get equal benefits.
  • Offices and the opportunities will be dispersed to both the districts.

Startups to be listed for angel tax exemption

The Central Board of Direct Taxes (CBDT) and The Department for Promotion of Industry and Internal Trade (DPIIT) agreed to compile a list of startups eligible for angel tax exemption on Friday, based on their income tax returns and audited financial statements of the previous year.

  • The notification is likely be issued in a couple of days.
  • The maximum time limit has been raised by the Government below which a firm would be deemed eligible for angel tax exemption to 10 years from the earlier seven.
  • Additionally, the paid-up share capital limit below which startups would be qualified for an exclusion has been set at ₹25 crore.

10% reservation quota: SC refuses immediate stay on Act

On 8th February 2019, The Supreme Court declined to stay operation of the Constitution (103rd Amendment) Act, 2019 that provides 10% reservation to economically backward in the unreserved category in educational institutions and in government jobs , but approved for an early hearing of the trial.

  • A Bench led by Chief Justice of India Ranjan Gogoi consented the petition businessman Tehseen Poonawalla that seeks to have the act quashed on the basis of “backwardness for the purpose of reservation cannot be defined by “economic status alone”
  • Poonawala opposes that the quota would be over and above the existing 50% reservation to SCs, STs and Other Backward Classes (OBCs).

Posted in: Current Affairs News

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