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CURRENT AFFAIRS -6- MARCH- 2016
March 6, 2016
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Awards for 3 Haryana districts for improving sex ratio

1The Haryana government will confer state-level award for year 2015-16 to district administrations Ifor efforts to improve sex ratio.

2 It include cash awards of Rs five lakh, Rs three lakh and Rs two lakh would be given away to districts of Narnaul, Bhiwani and Jhajjar, respectively,

3 The awards would be given away by chief minister Manohar Lal Khattar at a statelevel sports meet and Mahila Samman Samarohr to be organised at Rajiv Gandhi Khel Parisar, in Panipat district on March 9.

4 These districts have been selected on the basis of improvement in sex ratio between January 1, 2015 and December 31, 2015, as per the report of Health department and strategies adopted by the deputy commissioners concerned

China Lowers Growth Target to 6.5%-7% Range in 2016

1 China gave itself wiggle room in lowering its economic growth target this year, though it still set the pace at a relatively high 6.5% to 7%, suggesting the government prefers buoying the slowing economy to more painful retrenchment.

2 In opening the National People’s Congress on Saturday, Premier Li Keqiang laid out policies and goals for the year that aim to stimulate growth and encourage restructuring of industries afflicted with overcapacity.

India becomes the first country to propose a levy on digital economy, say tax experts.

1 India has taken the first step to tax the digital economy . An equalisation levy–a deduction of 6% to be made by an Indian payer on payments to a nonresident entity for specified B2B services such as advertising–has been introduced in the Budget.

2 The levy will impact the bottomlines of giants such as Google, Yahoo and others, which earn ad revenue from business entities in India.

Full rollback of EPF tax likely as Finance Ministry considers options

1 All options on the controversial budget ;proposal to tax EPF savings, including a complete rollback, are on Prime Minister Narendra Modi’s table and a decision is expected at the highest level in the government soon, senior officials told The Hindu on Saturday.

2 A senior official of the Finance Ministry conceded that the “entire” proposal was under review and the Ministry’s original intent was to promote the New Pension Scheme (NPS) that had failed to take off even over 10 years after it was launched, as the EPF offered better tax benefits.