GST Council Forms GoM on Compensation Cess:
The GST Council has set up a 10-member Group of Ministers (GoM), chaired by Pankaj Chaudhary, to propose a tax structure for luxury, sin, and demerit goods post-cess expiration in March 2026. Their recommendations are expected by December 2024, and the cess, which could be maintained or replaced by additional taxes, will be reevaluated based on the GoM’s findings.
Gulveer Singh Breaks 5000m National Record:
Gulveer Singh set a new national record in the 5000m event with a time of 13:11.82, winning gold at the Yogibo Athletics Challenge Cup in Japan. He surpassed his own previous record of 13:18.92.
Justice Manmohan Sworn in as Chief Justice of Delhi High Court:
Justice Manmohan took oath as the Chief Justice of the Delhi High Court. His tenure will last until his retirement in December 2024. He has served as a judge since 2008 and as acting Chief Justice since November 2023.
India Signs High Seas Treaty:
India signed the Biodiversity Beyond National Jurisdiction (BBNJ) Agreement, also known as the High Seas Treaty, which aims to protect marine biodiversity on the high seas. The treaty addresses biodiversity issues and promotes an ecosystem-centric approach.
PM Modi Inaugurates ₹11,200 Crore Projects in Maharashtra:
Minister Narendra Modi inaugurated several projects worth ₹11,200 crore in Maharashtra, including the completion of Pune Metro’s Phase-1, the revamp of Solapur Airport, and the dedication of the Bidkin Industrial Area.
OECD Upgrades India’s FY25 Growth Forecast:
The OECD upgraded India’s FY25 growth forecast to 6.7%, citing strong domestic demand as the driver of growth. Inflation is projected to rise slightly to 4.5%.
IndusInd Bank Reappoints Sumant Kathpalia as MD & CEO:
IndusInd Bank approved the reappointment of Sumant Kathpalia as MD & CEO for another three-year term starting in March 2025, pending regulatory approval.
2024 SASTRA Ramanujan Prize Awarded to Alexander Dunn:
Alexander Dunn from the Georgia Institute of Technology won the 2024 SASTRA Ramanujan Prize, which honors young mathematicians under 32 for their contributions to mathematics.
India’s Forex Reserves Hit Record High:
India’s foreign exchange reserves reached a record $692.3 billion, driven by RBI’s market interventions and inflows into stocks and bonds, enhancing the country’s economic stability.
International Translation Day 2024:
Celebrated on September 30, 2024, the theme of this year’s International Translation Day is “Translation, an Art Worth Protecting: Moral and Material Rights for Indigenous Languages.” The day highlights the crucial role of translation in fostering international communication and cultural preservation.
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News Source: PIB
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