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Daily PIB 6th November 2023

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    Daily PIB 6th November 2023

    • Bulava Ballistic Missile: It is a new Russian submarine-launched Intercontinental Ballistic Missile (ICBM).Development of this missile commenced in 1998. The first powered flight test of the Bulava missile occurred in September 2005. It’s first submerged test launch followed in December. It was designed to be deployed onto Russia’s Borey-class ballistic missile submarines (SSBNs).It is a three-stage solid-fuel missile. It is designed to carry multiple warheads. Each warhead will strike a different target. It can carry six Multiple Independent Re-entry Vehicles (MIRVs).  These MIRVs are capable of manoeuvring in-flight and re-targeting, in order to outmanoeuvre hostile air defences. 

     

    • Apache Attack Helicopter: It is the world’s most advanced multi-role combat helicopter. Country of Origin: United States. Manufacturer: Boeing. It is also known as the Apache Guardian. The AH-64E attack helicopter is the latest version of the Apache used by the US Army. Other purchasers: India, Egypt, Greece, Indonesia, Israel, Japan, South Korea, Kuwait, Netherlands, Qatar, Saudi Arabia, Singapore, UAE, and the UK. It is designed and equipped with open systems architecture to incorporate the latest communications, navigation, sensor, and weapon systems. It has greater thrust and lift, joint digital operability, improved survivability, and cognitive decision-aiding. The AH-64E includes a new integrated infrared laser that allows for easier target designation and enhanced infrared imagery that blends infrared and night vision capabilities. The Indian Air Force has a fleet of 22 AH-64E Apache attack helicopters, and in 2020, Boeing signed an agreement with the Government of India for the acquisition of six more Apache helicopters for the Indian Army. 

     

    • National Mineral Development Corporation (NMDC): Incorporated in 1958 as a Government of India public enterprise, NMDC is India’s largest producer of iron ore. It is a Navratna public-sector enterprise under the administrative control of the Ministry of Steel. The company is engaged in the exploration of a range of minerals, including iron ore, copper, rock phosphate, limestone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, and beach sands. It owns and operates highly mechanised iron ore mines in Chhattisgarh and Karnataka. It also operates the only mechanised diamond mine in India at Panna, Madhya Pradesh. NMDC is considered to be one of the low-cost producers of iron ore in the world. The company sells most of their high-grade iron ore production to the Indian domestic steel market, primarily pursuant to long-term sales contracts. The registered office is located in the city of Hyderabad, Telangana. 

     

    • GST Amnesty Scheme: The scheme will be open till January 31, 2024.It will be available for entities that were unable to submit their appeals against orders issued by the tax officer on or before March 31.The scheme aims to help those who missed the deadline for filing appeals due to various reasons, including administrative errors or unforeseen circumstances. The entities willing to avail of the scheme will have to pre-deposit 12.5 percent of the tax demand, against 10 percent. This initiative can also promote enhanced compliance among taxpayers. A fair and lenient approach to appeal filing encourages better cooperation with tax authorities and a willingness to resolve disputes or clarify tax matters. Additionally, by allowing disputes to be resolved more efficiently, the scheme may reduce the burden on the legal system. This benefits both taxpayers and the tax administration. 

     

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