- Commission for Agricultural Costs and Prices (CACP)
If there is fall in prices after the harvest then to help the farmers from incurring loses the goi has introduced this msp scheme which is the price at which govt purchases crop from farmers, whatever is the price at that time
This price will be announced by the government for certain crops prior to sowing season.
These prices are decided by cabinet committee on economic affairs.
These decisions were based on recommendations of commission for agricultural costs and prices, which is an expert body under ministry of agriculture and farmerswelfare practices.CACP will recommend MSP based on certain factors like cost of production which has two Components, A2 and FL.
Cost of production = A2+FL
Recommendations of cacp are not binding on govt
- PAD ABORT
What is Crew Escape (Pad Abort) System?
- The Crew Escape System is an emergency escape measure to quickly pull the crew module — the astronaut cabin — along with astronauts out to a safe distance from the launch vehicle in the event of a launch abort.
- It is held for the safe recovery of the crew module in case of any exigency at the launch pad
- The first ‘pad abort’ test critical for a future human space mission was conducted successfully by ISRO.
- The test was conducted at the Satish Dhawan Space Centre, Sriharikota.
- Allow gambling, betting on sports as regulated, taxable activities: Law panel
- The Law Commissionhas recommended that gambling and betting on sports, including cricket, be allowed as regulated activities taxable under the direct and indirect tax regimes and used as a source for attracting foreign direct investment (FDI)
- The commission’s report, “Legal Framework: Gambling and Sports Betting including Cricket in India”, recommends a number of changes in the law for regulating betting and generating tax revenues from it
- Parliament may enact a model law for regulating gambling that may be adopted by the states
- In the alternative, Parliament may legislate in the exercise of its powers under Articles 249 or 252 of the Constitution
- The commission has recommended linking Aadhar or PAN card of an individual indulging in betting and gambling, and making the transaction cashless to regulate illegal activities such as money laundering
- The commission has also recommended amending the laws regulating forex and India’s FDI policy to allow investments in the casino and online gaming industry.
- Generalised System Preferences:
Generalized System of Preferences (GSP) is a preferential tariff system extended by developed countries (also known as preference giving countries or donor countries) to developing countries (also known as preference receiving countries or beneficiary countries). It involves reduced MFN Tariffs or duty-free entry of eligible products exported by beneficiary countries to the markets of donor countries.
Benefits of GSP to India:
- Indian exporters benefit indirectly – through the benefit that accrues to the importer by way of reduced tariff or duty free entry of eligible Indian products.
- Reduction or removal of import duty on an Indian product makes it more competitive to the importer – other things (e.g. quality) being equal.
- This tariff preference helps new exporters to penetrate a market and established exporters to increase their market share and to improve upon the profit margins, in the donor country.
1.Consider the following statements
- CACP is a statutory panel under Ministry of Agriculture and Farmers welfare
- CACP recommendations on MSP are binding on government
Select the correct answer using the code below:
- 1 only
- 2 only
- ‘Generalized System of Preferences ’ is related to which of the following: