Page 12 - Banking Finance December 2024

ROUNDUP

robust, such as the increasing concen-
tration of extreme poverty in Sub-Sa-
haran Africa and fragile countries, and
that extreme poverty eradication by
2030 is out of reach," it added.

To exceed FY25 direct tax
Ò»©­ target: CBDT chief

The government will exceed the Rs
22.07 lakh crore direct tax collection
target set for the current fiscal, Cen-
tral Board of Direct Taxes (CBDT) chair-
man Ravi Agarwal said.
Agarwal also said that taxpayers who
Mandaviya launches 'eShram' portal have not disclosed their foreign income
Union Labour Minister Mansukh Mandaviya will launch 'eShram-One Stop or assets in their ITRs have time till
Solution' for unorganised workers, the labour ministry said in a statement. December 31 to file their revised re-
turn for the 2023-24 fiscal.
eShram-One Stop Solution will act as a mediator to ensure that unorganised
workers have easy access to a variety of government schemes/programmes, The tax department is in the process
it stated. of sending SMS and emails to those
assessees who have not disclosed high-
This initiative will help unorganised workers become aware of the schemes
designed for them, it said. value assets.
Inaugurating the Taxpayers Lounge at
According to the statement, in keeping with the vision of the recent Bud-
the India International Trade Fair
get Announcement on developing eShram as a one-stop-solution for
(IITF), Agarwal also said that more
unorganised labour sector to have access to various social sector schemes,
than 6,000 suggestions have come in
Union Minister of Labour & Employment and Youth Affairs and Sports will
launch the 'eShram-One Stop Solution' on October 21. for a review of the income tax law to
make the language simple.
Extreme poverty in India by 38 million in 2021 to 167.49 million Adani lines up $35bn solar
after growing in the preceding two
fell 70% in 34 years: World years. investment
Bank The 'Poverty, Prosperity and Planet: Adani Group will invest about USD 35
Almost 129 million Indians are living in Pathways out of the Polycrisis' report, billion over the next five years to set
extreme poverty in 2024, on less than however, clarified that these new up large-scale solar, wind and hybrid
$2.15 (about Rs 181) a day, down from datasets had not factored in the plants across different parts of the
431 million in 1990, the World Bank Household Consumption and Expendi- country, Adani Green Energy Executive
said in report. However, with a higher ture Survey (HCES) for 2022-23 re- Director Sagar Adani said. Adani Group
poverty standard of $6.85 (about Rs leased recently. is making one of the largest greenfield
576) per day - the poverty threshold for "These new datasets are not reflected investments in energy sustainability
middle-income countries - more Indi- in the report, since the necessary and transition in the world, he added.
ans are living below the poverty line in
analysis could not be completed in "We have embarked upon what I
2024 than in 1990, primarily driven by
time. While the precise impact of add- would say (is the largest greenfield
'population growth'.
ing these two datasets on global pov- development in the field of renewables
Earlier, the World Bank had said that erty is unclear at the time of this writ- by any company anywhere in the
extreme poverty in India had declined ing, key conclusions of the report are world. So, we're investing about USD

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