Prelims 2020

29th August 2020 Daily Current Flash Cards

Sukanya Samriddhi Yojana; Commodity-wise Composition of Exports and Imports; Mukhya Mantri Krishi Ashirwad Yojana; Minimum Support Prices (MSPs); Free Trade Agreements (FTAs);
By IASToppers
August 29, 2020

 

 

 

Enlist the Free Trade Agreements (FTAs) of India with other countries that are already in force.

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Answer & Enrich Your Learning:

Free Trade Agreements (FTAs) already in force

S. No

Name of the Agreement

Date of Signing of the Agreement

Date of Implementation of the Agreement & Recent Developments

1.        

India – Sri Lanka FTA

28th December. 1998

Date of implementation of treaty was 1st March, 2000, The negotiations for the proposed Economic and Technology Cooperation Agreement (ETCA) between India and Sri Lanka, covering trade in goods, trade in services, investment and economic and technology cooperation are in progress.

 Eleven Round of Negotiations have been completed.

2.        

Agreement on SAFTA (India, Pakistan, Nepal, Sri Lanka, Bangladesh, Bhutan, the Maldives and Afghanistan)

4th January, 2004

Date of implementation of treaty was 1st January, 2006

(Tariff concessions implemented from 1st July, 2006)

3.        

India Nepal Treaty of Trade

27th October, 2009

The Treaty has been extended for a further period of seven years and is currently in force till 26th October 2023.

A Comprehensive Review of the India-Nepal Treaty of Trade, initiated in 2018, is in progress.

4.        

India – Bhutan Agreement on Trade Commerce and Transit

17th January, 1972

Renewed periodically, with mutually agreed modifications.

Agreement dated 29th July 2006 was valid for ten years.

With mutual consent, the validity was extended for a period of one year or the period till the proposed new Agreement comes into force.

The renewed Agreement has been signed on 12th November, 2016 and came into force with effect from 29th July, 2017.

5.        

India – Thailand FTA – Early Harvest Scheme (EHS)

9th October, 2003

Date of implementation of treaty was 1st September, 2004

6.        

India – Singapore CECA

29th June, 2005

Date of implementation of treaty was 1st August, 2005.

The second review of India Singapore CECA was jointly concluded and announced on 1st June, 2018 during the state visit of Prime Minister of India to Singapore.

7.        

India – ASEAN- CECA – Trade in Goods, Services and Investment Agreement (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam)

13th August, 2009 for goods and November, 2014 for Services and Investment

Date of implementation of treaty for Goods

●        1st January, 2010 in respect of India and Malaysia, Singapore, Thailand.

●        1st June, 2010 in respect of India and Vietnam

●        1st September, 2010 in respect of India and Myanmar.

●        1st October, 2010 in respect of India and Indonesia.

●        1st November, 2010 in respect of India and Brunei.

●        24th January, 2011 in respect of India and Laos.

●        1st June, 2011 in respect of India and the Philippines.

●        1st August, 2011 in respect of India and Cambodia.

Services and Investment

For Services and Investment, date of implementation of treaty was 1stJuly, 2015.

8.        

India – South Korea CEPA

7th August, 2009

Date of implementation of treaty was 1st January, 2010.

The two sides have commenced negotiations for up gradation of CEPA in 2016 to explore the possibility of providing further tariff concessions/ simplification of Rules of Origin to Indian exporters.

 8th round of negotiations for upgrading India-Korea CEPA was held in June, 2019 in India.

9.        

India – Japan CEPA

16th February, 2011

Date of implementation of treaty was 1st August, 2011

10.    

India – Malaysia CECA

18th February, 2011

Date of implementation of treaty was 1st July, 2011

 

 

 

Government fixes Minimum Support Prices (MSPs) of 22 mandated crops on the basis of recommendations of which commission?

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Answer:

Government fixes MSPs of 22 mandated crops including wheat, pulses and oilseeds on the basis of recommendations of Commission for Agricultural Costs & Prices (CACP).

Enrich Your Learning:

Increase in MSP

  • The Union Government has increased the Minimum Support Price (MSP) for Kharif and Rabi crops of 2019-20 season including Paddy, wheat, pulses and oilseeds on the line of fixing the MSP at a level of 1.5 times of the cost of production as announced in Union Budget 2018-19.
  • Government fixes MSPs of 22 mandated crops including wheat, pulses and oilseeds on the basis of recommendations of Commission for Agricultural Costs & Prices (CACP), after considering the views of State Governments and Central Ministries/Departments concerned & other relevant factors.
  • In addition, MSP for Toria and De-Husked coconut is also fixed on the basis of MSPs of Rapeseed & Mustard and Copra respectively.
  • While recommending MSP, CACP considers various factors viz. cost of production, overall demand-supply situations of various crops in domestic and world markets, domestic and international prices, inter-crop price parity, terms of trade between agriculture and nonagriculture sector, likely effect of price policy on rest of economy, rational utilization of land, water and other production resources and a minimum of 50 percent as the margin over cost of production.
  • The views of the farmer and farmer’s association are also considered by CACP before recommending MSP.
  • Government receives suggestions from state government regarding various aspect of increasing MSP.
  • CACP seeks suggestions from different stakeholders including State Governments before recommending MSP.
  • National Commission on Farmers (NCF) headed by M.S. Swaminathan had recommended that the MSP should be at least 50 percent more than the weighted average cost of production.
  • The Union Budget for 2018-19 had announced the pre-determined principle to keep MSP at levels of one and half times of the cost of production.
  • Accordingly, Government has increased the MSP for all mandated Kharif, Rabi and other commercial crops with a return of atleast 50 per cent of all India weighted average cost of production for the agricultural year 2018-19 and 2019-20.

 

 

 

Mukhya Mantri Krishi Ashirwad Yojana was launched in which state of India: (a) Gujarat OR (b) Jharkhand?

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Answer: Mukhya Mantri Krishi Ashirwad Yojana was launched in Jharkhand.

Enrich Your Learning:

Mukhya Mantri Krishi Ashirwad Yojana

  • It is a scheme of
  • It aims to provide welfare and financial support to farmers in
  • It is the first schemeby the Jharkhand government that provides 100 percent settlement through Direct Benefit Transfer (DBT) medium.
  • The scheme will provide cash support to farmers as the government will transfer Rs 3000 crore as a gift to more than 35 lakh farmers in the state.
  • The scheme was incorporated in the state budget from the financial year 2019-2020.

Eligibility:

  • Farmers holding land of an acre or less would be eligible for receiving Rs 5,000.
  • Farmers with five acres of land would be eligible to receive Rs 25,000.

Need:

  • According to an assessment done by the state agriculture department, more than 83 per cent state farmers have less than or equal to two acres of land.
  • Out of this, 65 per cent of farmers has less than one acre of land registered in their names.

 

 

 

Sukanya Samriddhi Yojana, a small deposit scheme for the girl child, was launched as a part of which national Campaign?

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Answer: Sukanya Samriddhi Yojana was launched as a part of Beti Bachao Beti Padhao campaign.

Enrich Your Learning

Sukanya Samriddhi Yojana

  • Launched in 2015, Sukanya Samriddhi Yojana (SSY) is a small deposit scheme for the girl child launched as a part of the ‘Beti Bachao Beti Padhao’ campaign.
  • A small savings scheme, launched as a part of Beti Bachao Beti Padhao (BBBP) campaign.
  • It aims to motivate parents to open an account in the name of a girl child and deposit their savings for her future well-being.

Eligibility Criterion:

  • The Sukanya Samriddhi Account is opened to facilitate the education and marriage expenses of girl children with a minimum deposit of ₹250 and a maximum of ₹1.5 lakh.
  • A parent or legal guardian can open an account in the name of the girl child until she attains the age of ten years.
  • She can withdraw 50% of the money after reaching age of 18 e.g. for higher education. 18 years deadline will also help preventing child-marriages.
  • The annual deposit (contributions) qualifies for Section 80C benefit and the maturity benefits are non-taxable.

 

 

 

The exports of Drug formulations and biologicals have Increased OR Decreased from 2011-12 to 2019-20?

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Answer:

  • It increased. In 2011-12, it was 2.6% while it is 5.0% in 2019-20.

Enrich Your Learning:

Commodity-wise Composition of Exports:

  • Petroleum, Oil and Lubricants (POL) exports have a dominant share in India’s export basket.
  • Growth in Non-POL exports dropped significantly from 2009-14 to 2014-19.
  • In 2019-20 (April-November), in terms of value petroleum products is the largest exported commodity while in terms of growth, it was drug formulations, biological.

Commodity-wise Composition of Imports:

  • An increase in the merchandise imports to GDP ratio has a net negative impact on the BoP position.
  • Over the years the ratio has been declining for India entailing a net positive impact on the BoP position.
  • Crude oil imports have a large presence in the import basket that correlates India’s total imports with crude prices.

Share of POL Import in Total Imports and Crude Oil Price:

  • In the import basket of 2019-20 (April November), crude petroleum had the largest share followed by gold and petroleum products.
  • Between 2011-12 and 2019-20, imports of Electronics grew the fastest from a negligible share to 3.6 per cent.

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Daily Current Flash Cards 2020 Prelims 2020
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