Connect with us


India contributes $100K to UN Tax Fund



United Nations, June 29 : India has contributed $100,000 to a UN fund to promote the participation of developing countries in a panel dealing with international cooperation in tax matters.

Ashish Sinha, a First Secretary in India’s Mission to the UN, handed over the cheque for the UN Tax Fund to Shari Spiegel, chief of the Policy Development and Analysis Branch of the UN Department of Economic and Social Affairs (Desa) on Tuesday.

“This voluntary contribution will be dedicated towards ensuring greater support for developing country participation in the subcommittee meetings of the UN Tax Committee,” the UN said.

India is the first country to respond to an appeal for contributions made in the Addis Ababa Action Agenda for sustainable development adopted at the Third International Conference on Financing for Development in 2015, according to the UN.

The UN Trust Fund for International Cooperation in Tax Matters, which is generally known as the Tax Fund, supports the activities of the Committee of Experts on International Cooperation in tax matters.

The committee helps deal with taxation issues involving developed and developing countries.

One of its function is to review and update UN Model Double Taxation Convention between Developed and Developing Countries and the Manual for the Negotiation of Bilateral Tax Treaties between Developed and Developing Countries, according to the UN.

The Tax Fund contribution is one of the many voluntary donations India makes to the UN in addition to the mandated contribution, which totalled $34.28 million in 2016.

Earlier in June, New Delhi launched the India-UN Development Partnership Fund with an initial contribution of $1 million to help the poorest countries achieve the world organisation’s Sustainable Development Goals (SDGs) to reduce poverty and raise the quality of life.

In April, India gave $250,000 to UN programmes for helping countries hold elections and develop their electoral systems.

In 2016, New Delhi also gave $500,000 to the UN Central Emergency Response Fund (CERF), $100,000 for Haiti cholera relief and $250,000 for the General Assembly President’s office.

By Arul Louis

(Arul Louis can be reached at [email protected])



J&K: Two militants killed in Anantnag gunfight




Srinagar, March 24: Two terrorists were killed on Saturday in an encounter with the security forces in Jammu and Kashmir’s Anantnag district, police said.

“Security personnel from the Rashtriya Rifles, Central Reserve Police Force and the Special Operations Group (SOG) of the state police surrounded Shistargam village on Friday evening following information about a group of holed-up militants.

“As the cordon was tightened, the militants fired at the security forces triggering the gunfight,” police sources said.

Continue Reading


Fear that AI will take up both skilled & unskilled jobs: Rajan

We have to make sure Indian capital is available because often it is closest to the ground and understands the financing better




Kochi, Mar 23 : Former RBI Governor Raghuram Rajan today expressed fears that Artificial Intelligence would take up jobs–both high skilled and unskilled.

With advances in Machine Learning,Artificial Intelligence and Robotics, this was going to change still further, as they take up the jobs,ranging from those in unskilled sweatshops to high-skilled professions like medicine, the former RBI Governor said.

“What jobs will humans be able to do in 10-15 years that are immune from threat?Jobs that require high intelligence and creativity; jobs that require human empathy and jobs where human working for us bolster our status in some way,” he said, delivering the keynote address outlining his vision for India at #FUTURE Global Digital Summit, organised by the Kerala government.

He, however, India has to embrace technology and become a leader in the digital transformation taking place around the globe without being bogged down by unfounded fears of job losses, incomes or machines replacing humans.

Among the biggest obstacles to technology adoption were fears of man being replaced by machines a fear that has existed since the industrial revolution,but never materialised. “Two hundred years since the industrial revolution, jobs are still around. People and society adapt to do the things that machines cannot do,” he said.

“With technology, across every job there is going to be a restructuring, taking away the routine aspects and leaving the creative and customised aspects of that job,” he said.

Currently Professor, Finance at University of Chicago, Booth School of Business, Rajan said that in every industrial country, more jobs have disappeared in routine skilled and non routine unskilled jobs, which has partly led to the anxieties.

The former RBI Governor said another aspect of the fear was where the incomes would come from; the answer to which was an assured Universal Basic Income.

In the Indian context, he said “we have a huge hunger for capabilities at every level. If we can create incomes at some level, the aspirations of people will ensure their children move up in life and get the opportunities that they did not.”

In terms of business opportunities, the government needs to do far more for start-ups to flourish in India by creating easy paths to incorporation and funding, he said.

Rajan said that one of the big lacunae in India was risk financing and so start-ups go elsewhere because they need risk financing, which was not available in the country.

“We have to make sure Indian capital is available because often it is closest to the ground and understands the financing better,” Rajan said.

“We have to make sure that the companies of our future are incorporated in India, get Indian financing and expand significantly. We cannot miss out on the AI and Robotics revolution,” he said.

Another significant area where India effectively needs a revolution is education and skill building, Rajan said.

“We need to remedy weaknesses in education at every stage, build more world-class institutions domestically and bring the talent back from abroad,” Rajan said.

“We are not as global as we should be even now. Too many of our people are too poorly educated or skilled to compete in a globalised tech-enabled economy,” Rajan noted.

“If we don’t do that we will end up with a two-tier economy of a few “haves” and a vast population of “have-nots”, which is neither socially stable nor desirable,”he said.

Continue Reading


Sonia Gandhi rushed back to Delhi, better now




March 23:  Senior Congress leader Sonia Gandhi, who was rushed to New Delhi from Shimla on Friday due to her ill health, is better now, said sources close to 10, Janpath.

Gandhi was in Shimla along with her daughter Priyanka Vadra, officials said.

She was initially taken to Chandigarh on Thursday night and from there the Congress leader was taken to New Delhi on a special aircraft.

“Since she (Sonia Gandhi) refused to get examined at Indira Gandhi Medical College (in Shimla) and insisted on reaching Chandigarh, she was taken to Chandigarh late in night and from there she was taken to New Delhi,” an official told IANS.

Gandhi and her daughter were staying at the Wildflower Hall, an Oberoi Group luxury resort.

Indira Gandhi Medical College and Hospital’s Medical Superintendent Ramesh Chand accompanied the Congress leader from Shimla to Chandigarh.

“Her condition was stable,” Chand told IANS.

Sonia Gandhi and her family arrived in Shimla on Wednesday and visited Charabra where Priyanka Vadra’s cottage is being constructed.


Continue Reading

Most Popular