Ministry of Commerce & Industry  

Scheme for Intellectual Property (IP) protection revised to upgrade the professional charges of the facilitators (DEC 2, 2022)

To protect and promote Intellectual Property Rights (IPR) of Startups and to encourage innovation and creativity among them, Government of India had launched a Scheme for facilitating Start-Ups Intellectual Property Protection (SIPP) in 2016. 

To further encourage the IP facilitators to provide quality services to Startups in order to increase the number of IP Applications filed by startups, the scheme has now been revised and facilitation fees has been notably increased by at least 100%. The revised scheme is applicable from 02 November 2022

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SUPREME COURT

AugustaWestland case: Supreme Court to hear bail pleas of Christian Michel on December 6 (DEC 2, 2022)

The Supreme Court on Friday said it will hear on December 6 the bail pleas of Christian Michel James, the alleged middleman in the AgustaWestland chopper scam in which the CBI and Enforcement Directorate have lodged two separate cases.

The Rs 3,600-crore alleged scam relates to the purchase of 12 VVIP helicopters from AgustaWestland. The lawyer had said that Michel’s case is that under sections 8 and 9 of the Prevention of Corruption Act, the maximum sentence is five years and he has undergone nearly four years.

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ECONOMY

Govt cuts windfall tax on locally produced crude, diesel exports ( DEC 2, 2022)

Centre has reduced the windfall tax on sale of domestic crude oil to ₹4,900 per tonne from the current tax of ₹10,200 crore. A finance ministry notification on Thursday also said that the tax on export of diesel has been lowered to ₹6.5 per litre. The changes will come into effect from December 2, 2022. 

Along with the levy of ₹1.5 per litre of road infrastructure cess, the tax would now be ₹8 per litre.

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NEWS AT GLANCE

  • Government approves Production Linked Incentive scheme for drones and drone components with an outlay of 120 crore rupees. 
  • NIA arrests Harpreet Singh, the most wanted terrorist in Ludhiana court blast case from International Airport in Delhi. 
  • US and Japan announce fresh sanctions on North Korea for its latest ballistic missile tests. 
  • GST collections rise by 11 percent year-on-year to over 1.45 lakh crore rupees in November.  
  • Government advises FM radio channels not to broadcast content glorifying alcohol, drugs, weaponry, gangster and gun culture.

WORD OF THE DAY

A motion to suppress is a motion that revolves around the exclusion of evidence from trial.

MARKET TODAY (as on 2.12.2022)

BSE SENSEX               62,868.50 INR▼ -415.69 (-0.66%) 

NIFTY 50                    18,696.10 INR▼ -116.40 (-0.62%)

1 US Dollar = 81.26 Indian Rupee (Last updated · 2 December at 1:10 pm UTC)

 

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