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Insights Daily Current Events, 27 March 2015

Insights Daily Current Events, 27 March 2015

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Twitter launches app Periscope

Twitter recently launched its streaming video application Periscope.

What it does?

  • The Periscope app allows anyone to stream live video to a wide audience with their smartphone.
  • Broadcasters on Periscope are directly connected to their audience, able to feel their presence and interact.

This could dampen enthusiasm for the rising online star Meerkat, which offers a similar service.

Sources: The Hindu.

 

CBDT makes public names of 18 tax defaulters

Adopting an aggressive approach to increase tax collections, the Revenue Department, for the first time, publically named 18 tax defaulters, who owe over Rs.500 crore to the exchequer. This is the first time the department has put in public domain a list of those wilful tax defaulters who have a tax liability of Rs.10 crore and above.

About CBDT:

The Central Board of Direct Taxes is a statutory authority functioning under the Central Board of Revenue Act, 1963. The officials of the Board in their ex-officio capacity also function as a Division of the Ministry of Finance dealing with matters relating to levy and collection of direct taxes.

  • The Central Board of Direct Taxes (CBDT) is a part of the Department of Revenue in the Ministry of Finance, Government of India. It provides essential inputs for policy and planning of direct taxes in India and is also responsible for administration of the direct tax laws through Income Tax Department.
  • It is India’s official Financial Action Task Force unit.
  • The Central Board of Revenue as the Department apex body charged with the administration of taxes came into existence as a result of the Central Board of Revenue Act, 1924.
  • Initially the Board was in charge of both direct and indirect taxes. However, when the administration of taxes became too unwieldy for one Board to handle, the Board was split up into two, namely the Central Board of Direct Taxes and Central Board of Excise and Customs in 1964.
  • The CBDT Chairman and Members of CBDT are selected from Indian Revenue Service (IRS), a premier civil service of India, whose members constitute the top management of Income Tax Department.

Sources: The Hindu, dor.gov.in.

 

 

Rajasthan govt. opens mother’s milk bank

Rajasthan’s first State-run human milk bank, “Jeevan Dhara”, was inaugurated by the Health Minister recently.

  • The first mother’s milk bank in the State was started by a non-governmental organisation in a government hospital in Udaipur.

Details:

Jeevan Dhara has been started in collaboration with the Norwegian government and JK Lon Hospital, and aims to collect excess breast milk from lactating mothers and provide it to infants deprived of it.

Online Trade:

  • Even as the concept of human milk bank is picking up, experts have warned of the harmful effects of its online buying.
  • The online market in human milk, growing fastest in the U.S., is now gaining popularity elsewhere, largely among mothers ineligible for milk from milk banks.
  • Although a narrow group of adult consumers (including people with cancer, gym enthusiasts and fetishists) buy milk online, most buyers are parents who require milk for their infants.
  • In countries such as the U.S., where milk banks charge up to $4 (Rs. 250) an ounce (0.03 litre), online milk is often the cheaper option.

Problems associated with online buying:

  • Unlike regulated banks, online sellers do not incur any expense on pasteurisation and testing for disease or contamination.
  • Collection, storage and shipping requirements are negotiated between buyer and seller, enabling lower prices. These cost-saving measures lead to a high risk of communicable disease transmission, contamination, and tampering.
  • Unlike donors at licensed milk banks, online sellers are not required to undergo any serological screening — meaning diseases such as Hepatitis B and C, HIV, human T cell lymphotropic virus, and syphilis may go undetected.

Sources: The Hindu.

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