TAMILNADU

Southern states biggest losers in new tax-sharing formula

The 15th Finance Commission left the share of states in central taxes virtually unchanged for the next financial year, but its revamped formula for how the proceeds are allocated between states will result in significant gains for Maharashtra, Rajasthan, Arunachal Pradesh and Bihar. The southern states of Karnataka, Kerala, Telangana and Andhra Pradesh are the biggest losers.

Its report for 2020-21 was tabled in Parliament on Saturday. The panel, headed by former bureaucrat and lawmaker NK Singh, is due to submit its final report later this year.
It has suggested that states be given 41% of the Centre’s net tax receipts during the next financial year, as against 42% for 2015-16 to 2019-20, arguing that the 1 percentage point change was on account of Jammu & Kashmir and Ladakh being converted into union territories. The share of the erstwhile state of J&K was estimated at 0.85% of the divisible pool. The 14th Finance Commission had increased the share of states from 32% to 42%.

A part of the change in the relative share of the states may be on account of the change in criteria and weights for what is called the horizontal devolution. Unlike its predecessor, the 15th Finance Commission has used the 2011 Census as the sole criteria for population but has reduced the weight for population to 15% from the earlier 27.5%. While retaining the 15% assigned to geographical area, it has enhanced the focus on forest and ecology from 7.5% to 10%.

INTERNATIONAL

Microsoft vows to be carbon negative by 2030

Microsoft Corporation is an American multinational technology company with headquarters in Redmond Washington.Microsoft announced that it would become carbon negative by the year 2030. The announcement made in the form of its increased efforts to combat climate change. The company announced that it vows to eliminate all the carbon emissions created by the company since its inception in 1975. Microsoft announced its investment of $1 billion in a climate innovation fund for technology for carbon capture and removal.

Amazon to invest 1 billion USD in India.

Amazon.com chief Jeff Bezos announced USD 1 billion over Rs 7,000 crore investment in India to help bring small and medium businesses online and committed to exporting USD 10 billion worth of India-made goods by 2025. The online retail giant committed USD 5.5 billion investments in India – Amazon’s most important market outside of the US and a key growth driver.

The long-term partner of India and actions speak louder than words. Amazon will invest an incremental USD 1 billion to digitize micro and small businesses across India, helping them reach more customers than ever before. This initiative will use Amazon’s global footprint to create USD 10 billion in India exports by 2025.

Iranian Film ‘Castle of Dreams’ gets Best Film Award at Dhaka International Film Festival

The Iranian film ‘Castle of Dreams’ directed by Reza Mirakarimi won the Best Film Award in Asian Competition section of the 18th Dhaka International Film Festival (DIFF).

The film also won the Best Director Award.

Information Minister of Bangladesh Hasan Mahmud gave away the award carrying prize money of Tk 1 lakh, a citation in the closing ceremony held in Dhaka.

Indian film ‘Finally Love’ directed by Anjan Dutt bagged Best Audience Award in Cinema of the World Category.

The theme of this year’s festival was ‘better film, better audience, better society’.

NATIONAL

Indian scientist Sakya Singha Sen awarded Merck Young Scientist Award 2019

Sakya Singha Sen from National Chemical Laboratory awarded as Merck Young Scientist Award 2019 for performing remarkable research in chemical science. Sen and his research team specializes in main group chemistry and involves in the synthesis of compounds with main group element and their catalytic application. The catalysts used mostly belong to precious metals platinum, palladium, iridium. These are very expensive, and their abundance in the earth is very less.This award is instituted by Merck. He is a science and technology company operating worldwide.

Merck Young Scientist Award is given to researchers with less than ten years of experience with expertise in solving some of the toughest problems in chemical sciences.

9th International Children’s Film Festival begins in Kolkata

The 9th International Children’s Film Festival begins in Kolkata with the screening of Aizaz Khan directed Hamid.

About 250 films from 45 countries will be screened in the week-long festival.

The National Award winner Children actor, Talha Arsad Rishi will inaugurate the festival.

Besides the screening of films, an exhibition on the children’s film festival will also be organised.

The Bloomsbury Anthology of Great Indian Poems to be released

The Bloomsbury Anthology of Great Indian Poems edited by Abhay K. is to be launched on 23 January 2020. It will be launched on the opening day of the Jaipur Literature Festival 2020.

Bloomsbury Anthology of Great Indian Poems:

The anthology covers over 3000 years of Indian poetry which were written in 28 Indian languages.

Earlier, Abhay K. has edited 100 Great Indian Poems. It has been translated and published into Portuguese, Spanish and Italian and it is to be published in Nepali, French, Irish, Russian, and Malagasy.

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