Authorised Economic Operators (AEO): The Central Board of Indirect Taxes & Customs (CBIC) has inaugurated the online filing of Authorised Economic Operators (AEO) applications. The web application is designed to ensure continuous real-time and digital monitoring of physically filed AEO applications for timely intervention and expedience. AbAEO is a programme (2007) under the aegis of […]
Category: Economics Current Affairs
Open Network For Digital Commerce
Open Network For Digital Commerce: The Department for Promotion of Industry and Internal Trade (DPIIT) has issued orders appointing an advisory committee for its Open Network for Digital Commerce (ONDC) project that is aimed at curbing “digital monopolies”. This is in the direction of making e-commerce processes open source, thus creating a platform that can […]
White Flag Campaign : Malaysia
White Flag Campaign: In Malaysia, some residents of low-income families have started waving white flags as part of the so-called “White Flag Campaign”, or the #benderaputi (white flag) movement. They are doing this to convey distress about the financial crunch they have had to deal with amid the lockdowns due to Covid-19. Malaysia enforced another […]
Anti-Dumping Duty on Copper Products
Anti-Dumping Duty: The government has decided not to impose Anti-Dumping Duty (ADD) on imports of certain copper products, from China, Thailand, Korea and three other countries. In April, Directorate General of Trade Remedies (DGTR) recommended imposing the duty on “copper and copper alloy flat-rolled products” from China, Korea, Malaysia, Nepal, Sri Lanka and Thailand, after […]
India Joins OECD/G20 Inclusive Framework Tax Deal
India Joins OECD/G20 Inclusive Framework Tax Deal: India and the majority of the members of OECD-G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) have joined a new two-pillar plan to reform international taxation rules. The two-pillar plan – inclusive framework tax deal on Base Erosion and Profit Shifting (BEPS)- seeks to reform international […]
Forex Reserves
Forex Reserves: According to the recent data from the Reserve Bank of India, India’s Foreign Exchange (Forex) Reserves surged by $ 5 billion to $ 609 billion in the week ended 25th June, 2021. Increase in the Foreign Currency Assets (FCA) is the major component of overall reserves. Changes in forex reserves holdings: FCA rose […]
15th Finance Commission Report
15th Finance Commission Report: The Supreme Court directed the National Disaster Management Authority (NDMA) to frame guidelines for payment of ex-gratia compensation to family members of persons who succumbed to COVID-19, while considering the recommendations in the 15th Finance Commission Report. Key recommendations in the Report of the 15th Finance Commission for 2021-26: The share […]
Istanbul Convention On Violence Against Women
Istanbul Convention On Violence Against Women: Turkey’s controversial exit from Istanbul Convention on Violence Against Women on July 1 has received severe criticism from various quarters and has led to protests across the country. The Council of Europe established the Istanbul Convention, a human rights treaty, with the aim to prevent and prosecute all forms […]
Retail And Wholesale Trades
Retail And Wholesale Trades: Minister of MSME announced revised guidelines for MSMEs with inclusion of Retail and Wholesale trades as MSMEs. The revised guidelines will benefit 2.5 Crore Retail and Wholesale Traders. Retail and wholesale trade which were left out of the ambit of MSME are now under the revised guidelines and thus will also […]
Framework for Accredited Investors : SEBI
Accredited Investors: Market regulator Securities and Exchange Board of India (SEBI) introduced a framework for accredited investors. SEBI defines accredited investors as “a class of investors who may be considered to be well informed or well advised about investment products”. The accredited investors could be individuals, HUFs, sole proprietorships, family trusts, partnership firms, trusts and […]
