P A N 2.0 by CCEA
Full form of CCEA :-
CCEA stands for Cabinet Committee on Economic Affairs, which is a committee in the Indian government that makes decisions on economic matters.
What does CCEA of India:-
It is the cabinet committee that takes decisions on the economic matters of the India government.
The proposed multi-tracking projects will ease operations and reduce congestion, providing the much-required infrastructural development on the busiest sections in indian economy.
The Cabinet Committee on Economic Affairs (CCEA) is one of the most significant committees within the Indian government. It plays a key role in finalising decisions related to infrastructure projects, industrial policies, and other key economic initiatives, ensuring they align with the governments objectives and fiscal policies.
A CCEA meeting ahead of the Union Budget is crucial for discussing and approving significant economic measures. These discussions will influence budgetary allocations and the overall economic direction of the Modi government 3.0.
Established and chairperson of CCEA:-
Established on July 14, 1990, The CCEA is chaired by the Prime Minister of India Shri Narendra modi. The Prime Minister is the head of the government and holds the highest executive authority in the country. the CCEA is responsible for high-level economic decision-making, including:
Some recent decision made by the CCEA:-
Cabinet approved three multitracking projects across Indian Railways: To provide connectivity, facilitate ease of travelling, minimize logistics cost, reduce oil imports and lower CO2 emissions
The projects will improve logistical efficiency by increasing the existing line capacity of the sections and enhancing transportation networks, resulting in streamlined supply chains and accelerated economic growth The cost of three projects is Rs 7,927 crore (approx.) and will be completed in four years The projects will generate direct employment for about lakh human-days during construction period
The Cabinet Committee has approved investment of Rs.1939 crore for construction of Heo Hydro Electric Project (HEP) in Shi Yomi District of Arunachal Pradesh. The estimated completion period for the project is 50 months.
The project with an installed capacity of 240 MW (3 x 80 MW) would produce 1000 Million Units (MU) of energy. The Power generated from the Project will help improve the power supply position in the state of Arunachal Pradesh and will also help in balancing of the national Grid.
The (CCEA), has given its approval for the PAN 2.0 Project of the Income Tax Department.
The financial implications for the PAN 2.0 Project will Rs.1435 crore.
What is PAN 2.0:-
The new PAN card will feature enhanced cybersecurity and a QR code for seamless scanning while retaining the existing PAN number.
The PAN 2.0 Project, aims to make the PAN a "common business identifier" across all digital systems of specified government agencies. This will create a unified digital portal for all PAN-related services, enabling paperless operations and improved grievance redressal mechanisms.
PAN 2.0 Project is an e-Governance project for re-engineering the business processes of taxpayer registration services through technology driven transformation of PAN/TAN services for enhanced digital experience of the taxpayers. This will be an upgrade of the current PAN/TAN 1.0 eco-system consolidating the core and non-core PAN/TAN activities as well as PAN validation service.
The PAN 2.0 Project resonates with the vision of the Government enshrined in Digital India by enabling the use of PAN as Common Identifier for all digital systems of specified government agencies.
Who to apply PAN 2.O:-
PAN will become a common business identifier. This initiative aims to curb multiple PAN holdings. The existing PAN card will remain valid under the PAN 2.0 initiative, and holders will automatically receive an electronic version of their card via email, without needing to apply.