Top five news stories to watch out for on January 31, 2020

The UK will exit the European Union an hour before midnight on January 31, casting off into an uncertain Brexit future that also challenges Europe’s post-World War II project of forging unity from the ruins of conflict. With the UK’s exit, the EU will bid farewell to 15 per cent of its economy, its biggest military spender and the City of London, the world’s international financial capital.

The Budget session of Parliament will begin on January 31 and is expected to continue till February 11. The government is is mulling a new investment law that will categorise nations into ‘most favoured’ and ‘not pro-India’. The Economic Survey is also expected to be released.

January 31 is the last day for taxpayers to avail of a “one-time” facility to apply for compounding of income tax offences. The earlier deadline was December 31, 2019. The date has been extended to give a final opportunity to such taxpayers and reduce the pendency of prosecution cases before the courts.

Drone operators have to voluntarily register their drones on the DigiSky portal to avoid penal action . The Ministry of Civil Aviation has sought the registration to facilitate the identification of civil drones and drone operators.

The United Forum of Bank Unions (UFBU) , which represents nine trade unions, has given a call for a two-day strike beginning January 31. The decision to go on a strike was taken as demands of wage revision settlement at 20 percent on the payslip, five-day banking, the merger of special allowance with basic pay, scraping of new pension scheme, etc have been pending since long.