PIB Daily

PIB Daily – 2nd August 2019– IASToppers

New Education Policy; India’s first national Time Release Study (TRS); Khanij Bidesh India Ltd. (KABIL);
By IASToppers
August 02, 2019

Contents

Government Schemes & Policies

  • New Education Policy, the way to Nalanda, Takshasila glory, says VP Shri Naidu

Bilateral & International Relations

  • India to conduct 1st National Time Release Study for faster movement of cargo

Key Facts for Prelims

  • KABIL Set up to Ensure Supply of Critical Minerals

 

[Note: Today’s PIB Daily News are already covered in Today’s Current Affairs Analysis. This PIB News Analysis news are only for those who wants to get only PIB news]

For IASToppers Current Affairs Analysis Archive, Click Here 

For IASToppers’ PIB Daily Archive, Click Here  

Government Schemes & Policies

New Education Policy, the way to Nalanda, Takshasila glory, says VP Shri Naidu

Vice President and Chairman of Rajya Sabha said that the New Education Policy will make India a global educational hub and urged the public to give their views on the Policy.

National Education Policy (NEP) IASToppers

HIGHLIGHTS OF THE SPEECH OF VICE PRESIDENT OF INDIA

  • Several German Universities are promoting Sanskrit to decipher ancient palm leaves and scriptures for clues for scientific innovation.
  • India was once known as Vishwaguru because of Takshashila, Nalanda etc. universities. Now, not a single Indian university is in the top-ranking global educational institutions.

BACKGROUND:

  • In May 2019, the draft National Education Policy (NEP) developed by a committee chaired by K. Kasturirangan was shared by the ministry of human resource development (MHRD) for public comment.

National Education Policy1111 (NEP)2 IASToppers

  • A comprehensive education policy for India is on the anvil for the first time since 1986.

To know more about the draft New Education Policy, read IASToppers’ Mains Article on it. Click Here https://www.iastoppers.com/draft-national-education-policy-2019-mains-article/

[Ref: PIB]

 

Bilateral & International Relations

India to conduct 1st National Time Release Study for faster movement of cargo

The Department of Revenue, Ministry of Finance, as part of its strategic commitment to improve global trade, is conducting India’s first national Time Release Study (TRS) between 1st – 7th August.

Time Release Study (TRS) IASToppers

ABOUT INDIA’S FIRST NATIONAL TIME RELEASE STUDY (TRS)

  • The TRS is an internationally recognized tool advocated by World Customs Organization (WCO) to measure the efficiency and effectiveness of international trade flows.

Time Release Study (TRS)3 IASToppers

  • It is aimed at addressing bottlenecks in the trade flow process and take the corresponding policy and operational measures for improving the effectiveness of border procedures, from the time of arrival until the physical release of cargo.
  • This initiative is led by the Central Board of Indirect Tax and Customs.
  • The exercise will be conducted at the same time across 15 ports including sea, air, land and dry ports which cumulatively account for 81% of total Bills of Entries for import and 67% of Shipping Bills for export filed within India.
  • The exercise will be held on an annual basis every year.

SIGNIFICANCE:

  • It will help India maintain the upward trajectory on Ease of Doing Business, particularly on the Trading Across Borders indicator which measures the efficiency of the cross border trade ecosystem.

Time Release Study (TRS)2 IASToppers

Beneficiaries:

  • Export oriented industries and MSMEs
  • Government agencies associated with cross border

BACKGROUND:

  • Previously, individual customs formations had been independently conducting TRS studies at the port level. The national TRS has taken this a step further and made a uniform methodology of TRS studies.

WHAT IS TIME RELEASE STUDY (TRS)?

Time Release Study IASToppers

  • It is developed by World Customs Organization (WCO).
  • It is a method for measuring the performance of Customs activities as they directly relate to trade facilitation at the border.
  • The WCO TRS is specifically referenced in Article 7.6 of the WTO Trade Facilitation Agreement (TFA) as a tool for Members to measure and publish the average release time of goods.
  • The TRS is being increasingly used by Members with respect to strategic planning and the proper sequencing of TFA measures in accordance with their National Committees on Trade Facilitation (NCTF).
  • One of the methods used for the review of clearance procedures is to measure the average time taken between the arrival of the goods and their release.
  • This facilitates Customs to identify both the problem areas and potential corrective actions to increase their efficiency.

SIGNIFICANCE:

  • Measuring the time taken for the release of goods also meets the concerns of trade circles regarding long delays in Customs clearance.
  • It helps Customs to respond to trade requirements where the operators need to plan ahead for the movement of goods across borders in order to meet tight production schedules.

KEY FACTS:

  • In 2018, India’s ranking on the Trading Across Borders indicator improved from 146 to 80.
  • In 2018, the WCO launched Time Release Study – Version 3 known as “Guide to Measure the Time required for the Release of Goods (Version 3)”.

WORLD CUSTOMS ORGANIZATION (WCO):

  • The World Customs Organization (WCO) is an intergovernmental organization headquartered in Brussels, Belgium.
  • The WCO represents 182 customs administrations across the globe that collectively process approximately 98 per cent of world trade.
  • Each of the six regions is represented by a regionally elected vice-chairperson to the WCO Council.
  • As the global centre of customs expertise, the WCO is the only international organisation with competence in customs matters.

Objectives of WCO:

  • The WCO’s primary objective is to enhance the efficiency and effectiveness of member customs administrations, thereby assisting them to contribute successfully to national development goals, particularly revenue collection, national security, trade facilitation, community protection, and collection of trade statistics.

Function:

  • The WCO is noted for its work in areas covering the development of international conventions, instruments, and tools on topics such as commodity classification, valuation, rules of origin, collection of customs revenue, supply chain security, international trade facilitation, customs enforcement activities, combating counterfeiting in support of Intellectual Property Rights (IPR), drugs enforcement, illegal weapons trading, integrity promotion, and delivering sustainable capacity building to assist with customs reforms and modernization.
  • The WCO maintains the international Harmonized System (HS) goods nomenclature, and administers the technical aspects of the World Trade Organization (WTO) Agreements on Customs Valuation and Rules of Origin.

The WCO has divided its membership into six regions, namely:

  • South America, North America, Central America and the Caribbean
  • Europe
  • Far East, South and South East Asia, Australasia and the Pacific Islands
  • North of Africa, Near and Middle East
  • West and Central Africa
  • East and Southern Africa
[Ref: PIB]

 

Key Facts for Prelims

KABIL Set up to Ensure Supply of Critical Minerals 

A joint venture company namely Khanij Bidesh India Ltd. (KABIL) is to be set up with the participation of three Central Public Sector Enterprises.

ABOUT KABIL:

  • A Khanij Bidesh India Ltd. (KABIL) is a joint venture company of three Central Public Sector Enterprises namely, National Aluminium Company Ltd.(NALCO), Hindustan Copper Ltd.(HCL) and Mineral Exploration Company Ltd. (MECL).

KABIL Set up to Ensure Supply of Critical Minerals 1 IASToppers

  • The equity participation between NALCO, HCL and MECL is in the ratio of 40:30:30.
  • The objective of constituting KABIL is to ensure a consistent supply of critical and strategic minerals to Indian domestic market.
  • While twelve strategic minerals have been identified, the initial focus will be on lithium and cobalt assets.

FUNCTIONS:

  • It will be involved in acquisition, exploration & processing of strategic minerals abroad for commercial use and for supply to meet domestic requirement.
  • It will help in building partnerships with other mineral rich countries like Australia and those in Africa and South America, where Indian expertise in mineral processing will be mutually beneficial.
  • It would also help in realizing the overall objective of import substitution.
[Ref: PIB, Economic Times]

 

Topics
Current Affairs PIB Daily
Tags

IT on Facebook

Facebook Pagelike Widget

Comments

Calendar Archive

September 2020
M T W T F S S
« Aug    
 123456
78910111213
14151617181920
21222324252627
282930