09-09-21 Daily-Odisha-OPSC Current Affairs

As per extant provisions of Indian Stamp Act, for an agreement to sell involving delivery of possession of any immovable property or a power of attorney, authorising the person other than family members, to sell such immovable property, stamp duty of 5% is being collected on the basis of the market value of the property.

However, representations were received by the Revenue Department from various stakeholders to reduce the stamp duty on agreement to sell and power of attorney. Besides, when high stamp duty is prevalent, it encouraged a tendency to evade registration of such documents. In last seven years only 0.02% of sale agreement documents with possession of property and 0.14% of power of attorney with possession of property have been registered in Odisha.

A real estate promoter/developer requires two types of documents executed between the developer and the land owner, viz. a power of attorney giving absolute power to the developer to sell the property to the public after the development/ construction of any structural complex and development/ construction agreement with the land owner with possession of property for necessary development of land/ to construct any residential/commercial complex over the land.

The stamp duty on such documents is charged at par with sale deed i.e. 5%. Such increased financial burden is ultimately passed to the public thereby increasing the cost of the developed land and buildings. As per the amended provisions, in agreement to sell / development agreement /construction agreement involving delivery of possession and power of attorney authorizing the person other than family members to sell immovable property, stamp duty of 2% will be leviable.

When evelopment Agreement and Power of Attorney are executed between the same parties involving the same property, and 2% stamp duty is paid on Development Agreement, then only a nominal amount of Rs1,000 stamp duty will be paid on power of attorney. When power of attorney is given to family members such as father, mother, wife, husband, son, daughter, brother and sister to sell or transfer immovable property, stamp duty of Rs 1,000 is paid.

Through the present amendment, five more relations such as daughter-in-law, grandson, granddaughter, grandfather and grandmother are added within the scope of family members for execution of power of attorney for sale of any immovable property within State. For certified copy of previously registered document, stamp duty has been hiked from Rs 10 to Rs 100 to augment revenue for State.

The Geological Survey of India has designated 100 mineral blocks with geological potential for auction. Handing over of these a hundred Reports to the State Governments will ensure non-stop grant of Minerals in the country and extra revenue to the State Governments by bringing greater quantities of mineral blocks under auction.

About MMDR Amendment Act, 2021:

The 2015 MMDR Amendment Act introduced transparency in the allocation of mineral concessions in mining leases and exploration licenses.

In this non-stop endeavour, the Mines and Minerals (Development and Regulation) Amendment Act, has been further liberalized in March 2021.

The latest amendment is anticipated to expand EMPLOYMENT and funding in the mining sector, enlarge the income to the States, increase production and time bound operationalization of mines,maintain the continuity of mining operations after the tenant changes, and accelerate the pace of mineral exploration and auction Resources.

The , Animal Husbandry and Dairying Minister established the National Livestock Mission portal.

About National Livestock Mission:

This mission covers all the Indian states.
There are 4 sub-missions under National Livestock Mission:
Sub-Mission on Fodder and Feed Development
Sub-Mission on Livestock Development
Sub-Mission on Development of Pig in North-Eastern Region
Sub-Mission on Technology Transfer, Skill development and Extension
It is a centrally-sponsored scheme. Under White Revolution‘, it runs as a sub-scheme.
It began working in 2014.
The mission ensures quantitative and qualitative enhancement in livestock manufacturing systems, specially in Sheep, Goat, Pig, Poultry, Feed and Fodder sector.

To Prepare Road Map for Coal based Hydrogen Production the Ministry of Coal Constitutes an Expert Committee and Task Force .

Highlights:

On Indias 75th Independence Day, the Prime Minister introduced a Hydrogen Mission. Coal is one of the vital sources of hydrogen making (Brown Hydrogen) aside from Natural Gas (Grey hydrogen) and (Green Hydrogen) through electrolysis.

In the case of renewable energy (green hydrogen), excess Solar Energy is used to electrolyze water into hydrogen and Oxygen

However, Coal has not been prompted elsewhere because of the fear that while extracting hydrogen by coal (from the moisture embedded in coal) there might also be Carbon Emission. Almost

In view of the above situation, the Ministry of Coal has established two committees.

Special Economic Zones (SEZs) were in the news. Local sales through Special Economic Zones units except import tag.

Highlights:

The government is considering an idea to enable producers in Special Economic Zones (SEZs) to promote their output to the domestic market without treating them as imports.

It is also reviewing the exclusion of special economic zones and export-oriented units from the recently notified export tax refund scheme

It has also recently been emphasized that despite the rising freight and input costs, the special economic zones and EOU units have not benefited under the Remission of Taxes and Duties on Export Products (RoDTEP) scheme.

The Common Services Centres has received approvals to operate and manipulate Passport Seva Kendra kiosks in rural areas.

Highlights:

The Village Entrepreneur (VLE) who runs the CSC will be commissioned to collect the documents, photos, and other details required for the passport process, as well as initial non-Police verification.

A nominal charge of up to Rs one hundred should be charged for the same.

The pilot program was launched in some CSCs in Haryana and Uttar Pradesh.

Full-fledged service is about to roll out across the country.

Indian and Australian navies commenced the bilateral exercising AUSINDEX.

Highlights:

From the INDIAN NAVY, INS Shivalik and INS Kadmatt are taking part in AUSINDEX 2021, the fourth version of the bilateral naval exercise.

Under the Eastern Naval Command, they form the part of the Indian Navys Eastern Fleet based at Visakhapatnam.

Both are indigenously designed and built.

INS Kadmatt is an anti-submarine corvette and INS Shivalik is a guided missile stealth frigate.