Union Cabinet approves new Income Tax Bill

The Union Cabinet approved the new Income Tax Bill to bring historic reforms in the Income Tax Act. The bill will replace the six-decade-old Income Tax Act, 1961 and simplify the tax system. The number of sections in it will be reduced by about one-third, making it easier for taxpayers to understand. The wording of the bill will be reduced by 50%, which will remove interpretation-related ambiguity. The government plans to release it for public consultation, so that the opinion of taxpayers and experts can be taken. Finance Minister Nirmala Sitharaman first announced this comprehensive review in the July 2024 budget. This bill is an important step towards increasing transparency in tax administration, easing compliance and accelerating economic reforms. This new law will come into force after being passed in Parliament.

First kangaroo embryo made with IVF technology

Australian scientists have succeeded in developing a kangaroo embryo using IVF technology for the first time. Researchers at the University of Queensland created eastern grey kangaroo embryos using intracytoplasmic sperm injection (ICSI) technology, which is also used in human fertility treatments. This success has opened up new possibilities for the conservation of endangered marsupial species. The research team has so far created more than 20 kangaroo embryos, for which sperm and eggs were collected from dead kangaroos. This discovery is considered a major step in Australia's wildlife conservation efforts. Lead researcher Dr. Andres Gambini called it an important achievement in preserving wildlife biodiversity. This technique can also be used in breeding other endangered species, which will strengthen biodiversity conservation.

Namibia's first president Sam Nujoma dies

Namibia's first democratic president Sam Nujoma died at the age of 95. He is known as the "founding father" of Namibia. Nujoma led the country after independence in 1990 and remained president until 2005. He paved the way for him to become president for the third time by amending the Constitution of Namibia. He played an important role in the struggle against South African colonialism, due to which he was declared the "Founding Father of the Nation of Namibia" under the Parliament Act, 2005. Nujoma's death is an occasion to remember his contribution to the African freedom struggle, which helped him make Namibia an independent and self-reliant nation.

About Namibia: Windhoek is the capital of Namibia and its currency is the Namibian dollar. Currently Nangolo Mbumba is the President of the country, while Sarah Kugongelwa is the Prime Minister.

Aero India Show 2025 inaugurated in Bengaluru

Defence Minister Rajnath Singh inaugurated Asia's largest aerospace and defense exhibition, Aero India 2025 in Bengaluru. The theme of this 15th edition held at Yelahanka Air Force Station is "Runway to a Billion Opportunities". This five-day event will showcase India's defense capabilities and indigenous innovations. More than 900 exhibitors, including 150 international companies, are participating in the exhibition. The first three days of the event, which will run from February 10 to 14, are scheduled for business meetings, while it will be opened to the public on February 13 and 14.

The Aero India Show is a platform to showcase India's progress in the defense and aerospace industry as well as to enhance cooperation with global partners. The event is an important opportunity to accelerate India's 'Make in India' and 'Atmanirbhar Bharat' campaigns.

India-Egypt joint military exercise "Cyclone 2025" begins

Joint military exercise "Cyclone 2025" between India and Egypt started at Mahajan Field Firing Range in Rajasthan. It will last for 14 days and has been organised with the aim of strengthening defence cooperation between the two countries. This exercise will improve interoperability for special military operations in desert areas. A contingent of the Parachute Regiment (Special Forces) is participating in it from the Indian Army. This is the third edition of the Cyclone exercise and training will be provided in anti-terrorism operations, reconnaissance, raids and other special missions.

This exercise will give the armies of both the countries an opportunity to understand each other's strategies and capabilities. Given the growing military ties between India and Egypt, this exercise is an important step towards an important strategic cooperation, which will strengthen coordination and friendship between the armies of the two countries.