India
RBI’s Current Digital Rupee Will Track Every Transaction, Aiding in the Fight Against Black Money
A top finance ministry official told ANI on Friday that the proposed digital rupee, which will be issued by the Reserve Bank of India (RBI) from the next financial year, will not only enhance the digital economy but also assist fight the menace of black money. He also stated that the RBI will have a complete record of all digital transactions involving the new currency.
“If you buy anything from a shopkeeper and pay with digital money, that digital money is used by the shopkeeper to pay his seller, RBI will have all the data of the transaction done with the digital rupee,” says an RBI official. He claims that if the RBI has a record of every digital transaction, evading taxes will be tough.
There is a provision for ‘tax evasion deterrence.’
In her Budget speech, Finance Minister Nirmala Sitharaman unveiled the Central Bank Digital Currency (CBDC), claiming that it will increase the country’s digital economy significantly. She went on to say that digital currency will lead to a more efficient and cost-effective currency management system. To combat black money, Sitharaman unveiled a new provision in the Union Budget 2022-23 called “Deterrence against tax avoidance.”
She expressed herself as follows: “There is now some confusion surrounding the set-off of brought forward loss against undeclared revenue discovered during search activities. When unreported income or sales suppression, for example, is discovered, it has been shown that tax payment is avoided by writing off losses. To establish certainty and create deterrence among tax evaders, I suggest allowing no set-off against unreported income discovered during search and survey activities.”
JB Mohapatra, Chairman of the Central Board of Direct Taxes (CBDT), explained the new law: “As part of the finance bill, a new clause called 79A was added. This is primarily to prevent people from reporting unreported income. This denial of set-off for brought-forward losses will benefit people who deserve to be taxed on concealed income that they had not declared previously.”
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Nerul Bus Stops Shifted Ahead of Turbhe Flyover Demolition
NMMT moves stops by 50 metres as authorities prepare traffic arrangements for demolition work.
The Bus Stop
Commuters travelling through Nerul and Turbhe may soon see changes in traffic movement as authorities prepare to demolish the remaining sections of the Turbhe flyover. To minimise inconvenience to passengers, NMMT has shifted the bus stops at Nerul LP by around 50 metres in both directions.
The bus stop for passengers travelling towards Panvel has been moved about 50 metres ahead, while the stop on the Vashi-bound side has also been relocated by a similar distance. New poles have been installed at the revised locations. Drivers and conductors from NMMT’s Turbhe, Asudgaon and Ghansoli depots have been instructed to use the new stops for passenger pick-ups and drop-offs.
The changes come as officials prepare for the demolition of the remaining two sections of the Turbhe flyover. One of the three sections is already undergoing work, while the demolition of the other two could affect traffic between Thane and Vashi. Traffic officials and the Public Works Department are working on an alternative traffic plan, including possible diversions through the Nerul LP underpass. However, the final diversion route and demolition schedule have not yet been announced.
Officials said the remaining sections of the flyover need to be demolished due to structural deterioration. Permissions and other preparations are currently underway.
For regular commuters, the temporary bus-stop shift is expected to be an important change to note as authorities work on the larger traffic management plan.
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NMMC Pays Tribute to Gandhi and Shastri on Birth Anniversaries
Civic officials remember the contributions of Mahatma Gandhi and Lal Bahadur Shastri at Belapur headquarters.
The Tribute
The Navi Mumbai Municipal Corporation (NMMC) paid tribute to Mahatma Gandhi and former Prime Minister Lal Bahadur Shastri on their birth anniversaries on October 2. A commemorative programme was held at the NMMC headquarters in Belapur, where NMMC Deputy Mayor Dashrath Bhagat offered floral tributes to the portraits of both national leaders at the civic headquarters’ amphitheatre.
Senior NMMC officials were present during the programme, including Additional Municipal Commissioner Sunil Pawar, Chief Auditor Rajendra Gadekar, Deputy Commissioner of Property Tax Dr Amol Palve, Deputy Commissioner of Solid Waste Management Dr Ajay Gadde and Chief Sanitation Officer Rajusingh Chavan.
The occasion provided civic officials an opportunity to remember the lives and contributions of two prominent figures in India’s history. Mahatma Gandhi is widely remembered for his leadership in India’s freedom movement and his emphasis on truth, non-violence and cleanliness. Lal Bahadur Shastri, India’s second Prime Minister, is remembered for his simple lifestyle, leadership and the slogan “Jai Jawan, Jai Kisan.”
The tribute programme also highlighted the continued relevance of their values in public life. For a civic body like NMMC, Gandhi’s emphasis on cleanliness and public responsibility remains particularly significant. Officials and staff gathered at the headquarters to mark the occasion and pay their respects to the two leaders. The programme concluded with floral tributes in their memory.
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CBD Belapur’s Sector 9 to Get New Open Gym
NMMC begins installing fitness equipment at the scenic CIDCO Nursery area following residents’ demand.
The Gym
Residents of CBD Belapur’s Sector 9 will soon have a new outdoor fitness facility close to their regular morning-walk route. The Navi Mumbai Municipal Corporation (NMMC) has started installing open gym equipment at the CIDCO Nursery hill area following a proposal raised by BJP corporator and Standing Committee member Swati Gurkhe.
The work was inaugurated in the presence of senior citizens, former corporator Ashok Gurkhe, Swati Gurkhe and several local residents. The CIDCO Nursery area is known for its greenery, trees and peaceful surroundings. Every morning, many residents visit the area for walking and exercise, making it a popular spot for health-conscious citizens. The new open gym is expected to give them an additional option to include basic strength and fitness exercises in their routine.
Swati Gurkhe said the proposal was made after residents requested better fitness facilities in the area. She said the civic administration has now started implementing the project and efforts will be made to provide good-quality equipment based on residents’ needs. She added that the facility could be expanded in the future if residents require additional equipment or improvements. Their suggestions will be considered while planning further work.
The initiative aims to make better use of the naturally green surroundings while encouraging residents, particularly senior citizens and regular walkers, to stay active and maintain a healthier lifestyle.
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