Argutes

Daily Current Affairs for UPSC Civil Services Exam – 09 March 2021

In Today’s News:

  1. Vivad Se Vishwas scheme.
  2. Ethanol blending of petrol.

1. Vivad Se Vishwas Scheme

News Summary

Declarations have been filed by taxpayers for resolution of Tax disputes amounting to Rs. 98,328 crore till 1st March 2021. Payment of Rs. 53,346 crore have been made by taxpayers under the Vivad Se Vishwas scheme till 1st March 2021.

Prelims GS – Governance

Vivad Se Vishwas Scheme:
  • Vivad Se Vishwas’ Scheme(No dispute but trust) aims at reducing litigations in the direct taxes payments.
  • This scheme was introduced in the Union Budget 2020-2021.
  • Under the proposed Vivad Se Vishwas’ scheme, the Finance Minister said that a taxpayer would be required to pay only the amount of the disputed taxes and will get a complete waiver of interest and penalty provided he pays by the specified date.
  • Amicable resolution of a large number of pending tax disputes was the primary objective of the scheme.

Click here to know more about the Vivad Se Vishwas Scheme and click here to view the official PIB release.

2. Ethanol blending of Petrol

News Summary

The government has been promoting the use of ethanol as a blendstock with main automotive fuel like petrol in line with the National Policy on Biofuels -2018 under the Ethanol Blended Petrol (EBP) Programme. This information was given by the Union Minister for Petroleum and Natural Gas  Shri Dharmendra Pradhan in a written reply in the Lok Sabha.

Prelims GS – Governance

EBP:
  • The use of damaged foodgrains and surplus food grains for the production of ethanol will increase its availability for Ethanol Blended Petrol (EBP) Programme.
  • This policy envisages an indicative target of blending 20% ethanol in petrol by 2030.
  • Under the EBP program, ethanol blending in petrol is being undertaken by the Oil Marketing Companies (OMCs) in the whole country except the island Union Territory (UT) of Andaman Nicobar and Lakshadweep wherein, OMCs blend up to 10 % ethanol in petrol under the EBP Programme.
  • The Government has a 10% blending target for mixing ethanol with petrol by 2022 & a 20% blending target by 2030.

Click here to know more about EBP on the Vikaspedia website.

 

 

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