In a recent decision championing the importance of “Cooperative Federalism” for the well-being of democracy, the Supreme Court held that the Union and State legislatures have “equal, simultaneous, and unique powers” to make Goods and Services Tax (GST) laws, and that the GST Council’s recommendations are not binding on them.
The Supreme Court’s decision came while upholding a Gujarat High Court ruling that the Centre cannot charge IGST on ocean freight from Indian importers.
The Supreme Court ruled that paying GST on ocean freight paid while importing goods is unconstitutional.
The World Economic Forum (WEF) recently released a report titled Fostering Effective Energy Transition 2022, which calls for immediate action by both the private and public sectors to ensure a resilient energy transition in order to address the challenges of environmental sustainability, energy security, energy justice, and affordability.
Of the 34 advanced economies, 11 rely on only three trading partners for more than 70% of their fuel imports.
More countries must adopt legally binding climate commitments, develop long-term strategies for domestic and regional energy systems, attract private sector investors for decarbonisation projects, and assist consumers and workers in adapting.
Regulatory frameworks must be enhanced in order to motivate the necessary actions and investments.
Anchoring climate promises in legally binding frameworks would not only ensure that they survive political cycles, but would also provide enforcement mechanisms to keep long-term implementation efforts on track.
Clean demand signals could be the tipping point needed to scale the projects and investments needed to build low-emission businesses.
The technology holds enormous potential, but more work needs to be done to make oilseed and pulse crop varieties resistant to diseases, insects, and pests, as well as drought, salinity, and heat stress.
Traditional breeding techniques take 8 to 10 years to generate agricultural crop varieties, whereas genome editing can be done in two to three years.
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