12/18/2018 Government orders cadre review, restructuring of I-T department; committee formed

economictimes.indiatimes.com/news/economy/policy/government-orders-cadre-review-restructuring-of-i-t-department-
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December 18, 2018

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Business News›News›Economy›Policy›Government orders cadre review, restructuring of I-T
department; committee formed

Government orders cadre review, restructuring of I-T

department; committee formed
PTI|

Updated: Dec 18, 2018, 06.17 PM IST

Save

The new committee to undertake cadre review and restructuring of the department has been
given a specific four-point charter to follow.

https://economictimes.indiatimes.com/news/economy/policy/government-orders-cadre-review-restructuring-of-i-t-department-committee-formed/ar… 1/5
12/18/2018 Government orders cadre review, restructuring of I-T department; committee formed

NEW DELHI: A fresh cadre review and

restructuring of the Income Tax Department
has been ordered by the government with an
aim to create a "caring but strict" direct taxes
regime in the country.
The Central Board of Direct Taxes (CBDT), that
frames policy for the I-T Department, on
Monday ordered creation of a 12-member
committee of senior officials to accomplish the
task within the next three months.

The development assumes significance as another committee or task force to draft a new direct
tax law to replace the existing Income Tax Act is already a work in progress and it has been
asked by the government to submit its report by February 28.

The new committee to undertake cadre review and restructuring of the department has been
given a specific four-point charter to follow.

A copy of the terms of reference of the committee has been accessed by PTI and it said the
panel will suggest ways to "organise the I-T Department in a manner which will further promote
compliance with direct tax laws through caring tax payer service and strict enforcement."

It will also "accordingly make advance projections of man power requirement and propose
appropriate modifications in the extant organisational structure within the frame work of the
government guidelines so as to facilitate filling up all the posts in the department in a time
bound manner."

The committee, chaired by Delhi-based Principal Director General of Income Tax, S K Dash, will
also suggest ways to "bring about rationalisation of the organisational structure for enhancing
the effectiveness of the department through improved efficiency and morale of its workforce."
The CBDT said the motive of the entire cadre review and restructuring exercise is to "enable and
equip the department to meet challenges of today and tomorrow."

Save

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12/18/2018 Government orders cadre review, restructuring of I-T department; committee formed

NEXT STORY

Bank of Baroda to shut three African branches by June

PTI|

Dec 17, 2018, 08.14 PM IST

Rationalisation of public sector bank (PSB)

branches is part of the government's initiative,
approved on November 2017 as clean and
responsible banking initiative.

NEW DELHI: State-owned Bank of Baroda will

close down three overseas branches in Africa
by June.
The bank in a regulatory filing said that as per
the government guidelines for rationalisation
of overseas presence, increase in efficiency
and profitability of the overseas offices, it will
close down branches in Guyana, Trinidad and
Tobago and Ghana by June 30, 2019.

The three branches contribute less than a percentage each to the bank's consolidated business.

Revenue from Ghana business stood at Rs 75.31 crore, Trinidad and Tobago Rs 23.90 crore and
Guyana Rs 26.38 crore, the bank said without specifying the period during which the revenue
was generated from these entities.

Rationalisation of public sector bank (PSB) branches is part of the government's initiative,
approved on November 2017 as clean and responsible banking initiative.

As on January 31, 2018, PSBs had about 165 overseas branches, besides subsidiaries, joint
ventures and representative offices. State Bank of India has the largest number of overseas
branches (52), followed by Bank of Baroda (50) and Bank of India (29). The state-owned banks
have the largest number of branches in the United Kingdom (32) followed by Hong Kong and
the UAE (13 each) and Singapore (12).

Financial Services Secretary Rajiv Kumar in March said the PSBs will consolidate 35 overseas
operations without affecting international presence of Indian banks in these countries.
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12/18/2018 Government orders cadre review, restructuring of I-T department; committee formed

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Export growth to surge 7% in Oct-Dec: Exim Bank

PTI|

Dec 17, 2018, 04.31 PM IST

The country's exports growth slid sharply to

0.8 per cent in November from October's
17.86 per cent growth in what was attributed
to base effects.

MUMBAI: The Export Import Bank of India

(Exim Bank) Monday said the country's export
growth will surge to 7 per cent for the
October-December quarter.
The release of the estimates, done by the city-
headquartered policy bank using in-house
modelling method, comes days after official
data showed merchandise exports growth
slumping to 0.8 per cent for November on a base effect.

The Exim Bank estimate said merchandise exports will go up to USD 82.39 billion for the third
quarter of the fiscal year, as against USD 77 billion.

Non-oil exports will grow 7.20 per cent to USD 71.45 billion during the same period, as against
the USD 66.65 billion in the year-ago period.

In a statement, the bank said it has developed an in-house model to generate an export leading
index (ELI) for India to track and forecast the movement in exports on a quarterly basis.

The ELI modelling will keep getting updated and the findings will be released by the bank on a
regular basis, the statement added.

The model and forecast have been reviewed by a standing technical committee of domain
experts, it said.
The country's exports growth slid sharply to 0.8 per cent in November from October's 17.86 per
cent growth in what was attributed to base effects.

There was a double-digit contraction in exports of gems and jewellery and engineering goods in
November, which impacted the overall growth.

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12/18/2018 Government orders cadre review, restructuring of I-T department; committee formed

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