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Variation in Foreign Exchange Reserves in India during Apr-Sep 2018

Dec 07, 2018: The Reserve Bank of India has released the balance of payments (BoP) data for July-September 2018 on its website. On the basis of these data, the sources of variation in foreign exchange reserves during April-September 2018 have been compiled.

Sources of Variation in Foreign Exchange Reserves: April-September 2018

During April-September 2018, there was a decrease in the foreign exchange reserves. The sources of variation in the foreign exchange reserves are set out in Table 1.

India’s Balance of Payments in 2nd Quarter (Jul-Sep) of 2018-19: Highlights

Dec 07, 2018: Preliminary data on India’s balance of payments (BoP) for the second quarter (Q2), i.e., July-September 2018-19 was published by RBI.

Key Features of India’s BoP in Q2 of 2018-19

 o India’s current account deficit (CAD) at US$ 19.1 billion (2.9 per cent of GDP) in Q2 of 2018-19 increased from US$ 6.9 billion (1.1 per cent of GDP) in Q2 of 2017-18 and US$ 15.9 billion (2.4 per cent of GDP) in the preceding quarter.

 o The widening of the CAD on a year-on-year (y-o-y) basis was primarily on account of a higher trade deficit at US$ 50.0 billion as compared with US$ 32.5 billion a year ago.

[RBI] Outward Foreign Direct Investment (OFDI) for November 2018

Dec 11, 2018: The Reserve Bank of India has today released the data on Overseas Direct Investment, both under Automatic Route and the Approval Route, for the month of November 2018.

Draft Regulation 96C of Employees' State Insurance (General) Reg. 1950

Employees' State Insurance Corporation Notification dated the 26th November, 2018 :-

No. N-12/13/1/2016-P&D.—The following draft regulations further to amend the Employees’ State Insurance (General) Regulations, 1950, which the Employees' State Insurance Corporation purposes to make in exercise of the powers conferred under sub-section (1) of Section 97 of the Employees’ State Insurance Act, 1948 (34 of 1948), is hereby published under 59A of the said Act for information of all persons likely to be affected thereby and notice is hereby given that the said draft regulations will be taken into consideration after expiry of a period of Thirty days from the date on which copies of the Official Gazette in which this notification is published, are made available to the public:—

Competition Commission of India (General) Amendment Regulations 2018

The Competition Commission of India CCI's Notification dated 6th December, 2018 :—

The Competition Commission of India (General) Amendment Regulations, 2018
(No. 2 of 2018)

No. L-3(2)/Regln.–Gen. (Amdt.)/2018/CCI.—In exercise of the powers conferred by Section 64 of the Competition Act, 2002 (12 of 2003), the Competition Commission of India hereby makes the following amendment in the Competition Commission of India (General) Regulations, 2009, namely:-

1. Short title and commencement –
 (1) These regulations may be called the Competition Commission of India (General) Amendment Regulations, 2018.
 (2) They shall come into force on the date of their publication in the Official Gazette.

2. In Competition Commission of India (General) Regulations, 2009, after Regulation 46, the following Section shall be inserted, namely:—

“46A. Authorizing an Advocate to accompany any person summoned by the Director General:-

Central Goods & Services Tax (Removal of Difficulties) Order 2018 Notified

Ministry of Finance (Department of Revenue) Order No. 1/2018-Central Tax dated the 11th December 2018

S.O. 6109(E).––WHEREAS, sub-section (1) of section 44 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this Order referred to as the said Act) provides that every registered person, other than an Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a non-resident taxable person, shall furnish an annual return for every financial year electronically in such form and manner as may be prescribed on or before the thirty-first day of December following the end of such financial year;

New Para. 68HH Inserted in Employees’ Provident Funds Scheme 1952

Ministry of Labour and Employment's Notification dated the 6th December 2018, reads as under:-

G.S.R. 1182(E).— In exercise of the powers conferred by section 5 read with sub-section (1) of section 7 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby makes the following Scheme, further to amend the Employees’ Provident Funds Scheme, 1952, namely:-

1. (1) This Scheme may be called the Employees’ Provident Funds (Amendment) Scheme, 2018.
(2) It shall come into force from the date of its publication in the Official Gazette.

2. In the Employees’ Provident Funds Scheme, 1952, after paragraph 68H, the following shall be inserted, namely:-

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