Top Best Current Affairs 14 May 2020 (2)

Addressing the liquidity issue of many micro, small and medium enterprises (MSMEs), the government has decided to reduce the rates of Tax Deduction at Source (TDS) and Tax Collection at Source (TCS) by 25 per cent of their existing rates. This will release Rs 50,000 crore additional liquidity for businesses, says Finance Minister Nirmala Sitharaman while announcing the first tranche of the Rs 20 lakh-crore stimulus package.

Russia stated recently that it will oppose any attempts by the United States to extend the arms embargo on Iran and reimpose UN sanctions against the Islamic Republic. Russian Ambassador to the UN, Vassily Nebenzia expressed very clearly during a video conference that the Trump administration will have a tough time advancing any measures to impose sanctions on Iran in the UN Security Council.

FIFA Futsal World Cup Lithuania 2020 has been rescheduled to be held between 12 September and 3 October 2021.

Indian Institute of Information Technology Guwahati (IIIT-Guwahati) recently organized a Poster Making Competition under Ek Bharat Shreshtha Bharat (EBSB) Campaign. The Ministry for Human Resource Development (HRD) is the nodal ministry for EBSB campaign which is run along with several other partner ministries and states. Students participated from their homes for the competition held online due to the COVID-19 lockdown.

The Shanghai-based New Development Bank of the BRICS (Brazil, Russia, India, China, South Africa) countries have fully disbursed $1 billion emergency assistance loan to India to help it contain the spread of COVID-19 and reduce human, social and economic losses caused by the COVID-19 pandemic. The 'Emergency Assistance Program Loan' to India was approved by the NDB Board of Directors on 30 April.

Government of India announced a Rs.20 lakh crore stimulus package, equivalent to about 10% of India's Gross domestic product (GDP). It aimed at making the country self-reliant and reviving the stalled economy. Atma Nirbhar Bharat Abhiyaan or Details of the plan will be unveiled by Finance Minister Nirmala Sitharaman. The reforms announced by PM Narendra Modi include supply chain reforms for agriculture, rational tax system, simple and clear laws, capable human resources and a strong financial system.

Twitter said in a statement recently that it has announced a new policy that will allow all of its employees to work from home, not only currently in the wake of the coronavirus pandemic but also indefinitely afterward if they wish to. The statement read that twitter employees are in a role and situation that enables them to work from home and they can continue to do so forever if they want to. The employees will have the option of returning to work in the companies officer by taking additional precautions when it is deemed safe to return to them.