The Daily Brief – 5th July 2019

By Praveen Dwivedi -
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Ursula von der Leyen

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  1. India has ratified Multilateral Convention to Implement Tax Treaty Related Measures (MLI) to prevent Base Erosion and Profit Shifting (BEPS). It will pave way for amendments to double taxation avoidance agreements (DTAA) with countries signatories to convention to plug revenue leakages. The provisions enshrined in framework will come into effect from fiscal year 2020-21 for bilateral tax treaties.
  2. Delhi Police and Solar Energy Corporation of India (SECI) signed Memorandum of Understanding (MoU) to set up Rooftop Solar Energy Systems in more than 200 of its buildings across the city. Under this green initiative project, Rooftop Solar Systems of total capacity of about 3-4 MW will be implemented. SECI is a company under Union Ministry of New and Renewable Energy (MNRE).
  3. Supreme Court bench of Justice Ashok Bhushan and Justice K M Joseph has directed Meghalaya state government to deposit Rs.100 crore fine imposed on it by National Green Tribunal (NGT) for failing to curb illegal coal mining with Central Pollution Control Board (CPCB). It also ordered to hand over illegally extracted coal to Coal India Limited (CIL) which will auction it and deposit the funds with state government.
  4. Union Ministry of Electronics and Information Technology (MeitY) and Union Ministry of AYUSH (Ayurveda, Yoga & Naturopathy, Unani, Siddha and Homoeopathy) signed a MoU to collaborate on digitization of AYUSH sector that is development of AYUSH GRID project. AYUSH GRID Project will be beneficial for all stakeholders, including citizens of country and will also help to achieve various national and international goals in healthcare.
  5. Council of Scientific and Industrial Research (CSIR)-Centre for Cellular and Molecular Biology (CCMB) and Centre for DNA Fingerprinting and Diagnostics (CDFD) signed a MoU to improve understanding and to enable better ways diagnosis and treatment of human genetic disorders. Every year more than 50 lakh babies are born with genetic disease in India.

    Ursula von der Leyen
  6. Germany’s Ursula von der Leyen was appointed by European Union (EU) leaders as bloc’s next Chief Executive i.e. European Commission president. She will succeed Jean-Claude Juncker. She is Chancellor Angela Merkel’s defense minister and fellow conservative party member. European Commission is an institution of European Union (EU) that was founded on 1 January 1958.
  7. Reserve Bank of India (RBI) constituted a 6-member working group chaired by Tapan Ray, non-executive chairman, Central Bank of India and former Secretary in Union Ministry of Corporate Affairs (MCA) to review regulatory guidelines and supervisory framework for Core Investment Companies (CIC). It will examine current regulatory framework for CICs in terms of efficacy, adequacy and effectiveness and will also suggest changes.

    Today’s Quiz

    1. ________Police and Solar Energy Corporation of India (SECI) signed Memorandum of Understanding (MoU) to set up Rooftop Solar Energy Systems.





    2. On which state NGT imposed a fine of Rs100crore?





    3. Every year more than ________ babies are born with genetic disease in India.





    4. When was European Commission founded?





    5. Who is the chairman of the working group constituted to review regulatory guidelines and supervisory framework for Core Investment Companies (CIC)?









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