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Jan 23 rd, 2016
Misc CANo Comments

15 Economy Related Short-Hand Notes (2 Mins) Revision – Current Affairs Nov – Coming Exams – Part IV

23-dec

• No customs and excise duty on use of bunker fuels > Indian ships > to promote movement of cargo through coastal waters > levy of tax on using bunker fuels > Raises cost of transportation

• Rajasthan > startup policy, 2015 >strengthen start up environment, mobilizing capital i.e. from angel and venture

• Vodafone won transfer pricing dispute case against IT authorities > Rs. 3700 crore transfer pricing > transfer pricing fixing of prices of goods and services sold by related legal subsidiaries

• RBI financial inclusion fund Rs.2K crore >expanding reach of financial services > merging financial inclusion fund and financial inclusion technology fund > for funding financial inclusion and literacy centres

• RBI and UAE central bank > MoU > supervisory cooperation and exchange of info

• India’s pulses import > 5 million tones > mainly from Canada & Australia

• Govt. imposed > anti-dumping duty > Chinese auto parts > heavy and medium commercial vehicles

• RV Easwar Committee > to simplify IT Act, 1961 > identify provisions leading to litigation’s > procedures that needs simplification> ease of doing business etc.

• India improved from 134 to 130 in ease of doing business report > because of various reforms and steps it took

• RBI > allowed NRIs for New Pension Scheme launched in 2004 > governed by PFRDA

• India 7th > world’s most valuable brand > brand value $ 2.1 bn

• Raghuram Rajan > VC BIS > established 1930 > world’s oldest financial organization > head office Basel Switzerland > for stability of central banks and fostering international cooperation

• Gold Monetization Scheme > depositing residents gold and providing interest on it > minimum deposit 30 grams of 995 fineness > no max period > min lock in period

• Sovereign Gold Bond Scheme > reduce demand of physical gold > available in DEMAT > unit of one grams and 2 grams

• Indian Gold Coin and Bullion Scheme > one side national emblem Ashok Chakra > other mahatma gandhi image > available in 5 and 10 gram coins

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