Protocol Signed to Amend the India-Austria Double
- India and Austria signed a protocol amending the existing convention between the two countries for avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income on February 6, 2017.
- The protocol will broaden the scope of the existing framework ol exchange of tax rotated information which will help curb tax evasion and tax avoidance between the two countries and will also enable mutual assistance In collection of taxes
India and Italy Signed a MoU for Technical Cooperation in Rail Sector
- Indian railway and Italian railway signed an Memorandum of Understandings (MoU) for technical cooperation in rail sector especially in the areas safety in train operations on February 2, 2017.
- MoU indudes safety audit of Indian Railways and measures required for enhancing safety in train operation. Assessment and certification of advanced technology based safety products.
- MoU also includes systems to Safety Integrity Level (SIL4), Training and competency development with focus of safety, Modem trends in Maintenance and diagnostic etc.
India Ranked 143rd in Economic Freedom Index
- India ranked a dismal 143rd in an annual index of economic freedom by a top American think-tank, behind its several South Asian neighbours including Pakistan, as progress on market-oriented reforms has been ‘uneven’ on February 15, 2017.
- Hong Kong, Singapore and New Zealand topped the index. Among South Asian countries, only Afghanistan (163) and Maldives (157) were ranked below India, Nepal (125), Sri Lanka (112), Pakistan (141), Bhutan (107), and Bangladesh (128) surpassed India in economic freedom.
- The Index of Economic Freedom is an annual index and ranking created by The Heritage Foundation and The Wall Street Journal in 1995 to measure the degree of economic freedom in the world’s nations.
- The creators of the index took an approach similar to Adam Smith’s in The Wealth of Nations, that “basic institutions that protect the liberty of individuals to pursue their own economic interests result in greater prosperity for the larger society”
International Conference on NexGen Technologies for Mining and Fuel Industries Inaugurated
- International Conference on NexGen Technologies for Mining and Fuel Industries-NxGnMiFu-2017 inaugurated on February 15, 2017.
- The conference will focus mainly on issues related to Innovative Mining Technologies for Complex Geomining Condi lioro; Mine Safety, Monitoring and Risk Management. Oran Coal Initiatives, Coal to Liquid, Methanol and Urea; Harnessing Coal bed Methane, Shale Gas and Underground Coal Gasification; Technological Developments in Oil and Gas Sectors and Alternate Clean Energy Initiatives.
- It will be aimed to deliberate and identify the RfrD needs to innovate new techniques, technologies and applications far dean safe, symbiotic sustenance of society, environment and industries in post-2020 era.
International Spice Conference Began in Kerala
- International spice conference began in Kerala on February 10, 2017. The conference is hosted by the All India Spaces Exporters Forum (AISEF) which represents about to 80% of spices expects from India in association with Cochin Chamber of Commerce and Industry.
- ISC 2017 will emphasised and discussed disruptive innovation as the key to survive in the most difficult condition that affects the industry from farm to market.
17th Session of BIMSTEC Senior Officiate’ Meeting Held
- The 17th session of senior officials’ meeting of the Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) took place in Kathmandu on February 5, 2017.
- The BIMSTEC-JWG will discuss administrative and financial issues of the BIMSTEC Secretariat.
- The Bay of Bcngaflnitiatlve for Multi-Sectoral Technical and^ Economic Cooperation (BIMSTEC) is an international organisation involving the countries Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal.
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