Page 15 - Banking Finance September 2019

ROUNDUP

Sri Lanka includes India Former Finance Minister Arun Jaitely passes away
in 'free visa on arrival' Former Finance Minister and BJP leader Arun Jaitely died at 66. He had been
suffering from various ailments for the past few
scheme years and was admitted to the AIIMS New Delhi

In a bid to revive the country’s tour- on August 9. In a statement, AIIMS said he was
ism industry, Sri being treated by a multidisciplinary team of se-
Lanka included nior doctors. President Ram Nath Kovind said he
India and China is extremely saddened by the demise of Arun
in the free visa- Jaitley, while Prime Minister Narendra Modi called him a political giant. Condo-
on-arrival lence messages from leaders of political parties across the spectrum and people
scheme. The tourism sector of the from different walks of life have poured in for Arun Jaitley. Arun Jaitley's last
country witnessed a slump following rites was performed at Delhi's Nigambodh Ghat.
the Easter Sunday bombings. In April,
Sri Lanka suspended its plans to Rajiv Kumar appointed as new Finance Secretary
grant visas on arrival to citizens of 39 Rajiv Kumar, currently serving as Financial Services Secre-
countries after the devastating Eas- tary, has been appointed as the new Finance Secretary tak-
ter suicide bombings that killed 258 ing the place of Subhash Chandra Garg, who was shunted to
people. the Power Ministry.
Sri Lanka has re-launched the free Kumar is a 1984 batch IAS officer of Jharkhand cadre. The
visa on arrival scheme, which was designation of Kumar as the Finance Secretary comes in
enforced from August 1, for the sus- the backdrop of transfer of Subhash Chandra Garg as the
pended 39 countries and has also power secretary. Garg has already sought voluntary retirement from service.
expanded the service to tourists from
India and China. Absence of legal awareness root cause of rights' dep-
rivation: CJI Ranjan Gogoi
I-T Dept exempts start-
Chief Justice of India Ranjan Gogoi on Sunday has stated that lack of legal
ups from Angel Tax awareness was the "root cause" of "deception, exploitation and deprivation"
The Income Tax (I-T) Department has of the rights and benefits of the masses. He also said that "awareness" about
given an ones' rights and the means of securing them are the "powerful instruments" to
exemp- bring social and economic progress.
tion to Addressing the valedictory function of the 17th All India Meet of State Legal
start-ups Services Authority (SLSA) in Nagpur, the Gogoi said legal services must be con-
from the stituted to "achieve distributed justice, effective implementation of welfare
contro- benefits and elimination of social and structural discrimination against the poor".
versial Angel Tax even on earlier as- In his speech, he shed light on the importance of "legal literacy", "technology
sessment orders, subject to certain and acccess" and the "impact and accountability" for delivering the quality le-
riders.
gal services. Justice Gogoi also said the National Legal Services Authority (NALSA)
The I-T department and the Depart- and State Legal Services Authorities are the "crucial vehicles" for discharging
ment for Promotion of Industry and the Constitutional mandate of justice to all on the basis of equal opportunities.
Internal Trade (DPIIT) had earlier "These bodies have to ensure through their methods that justice reaches the
given exemption to start-ups from
remotest corners of the country and the last person," said the CJI. While stress-
the much controversial tax on cer-
ing on the need for "legal literacy", Justice Gogoi said, "Awareness of ones' rights
tain conditions. Now, the Central and means of securing those rights are powerful instruments for bringing about
Board of Direct Taxes (CBDT) ex- social and economic progress. Absence of legal awareness is a root cause of
tended exemptions to these assess- deception, exploitation and deprivation of rights and benefits of the masses.
ment orders as well. Legal literacy and legal awareness go hand in hand".

BANKING FINANCE | SEPTEMBER | 2019 | 15