- Safeguard duty:
If a product is imported in in such increased quantities and under such conditions so as to cause or threatening to cause serious injury to domestic industry then safeguard duty is imposed. It is on the temporary basis.
Other duties are:
Anti dumping duty
If a country exports a product to any other country at prices lower than its home country or below its manufacturing cost then it is said to be dumping its products in other country. The practice hurts the domestic players of the importing country as it leads to unfair competition. In such a scenario the importing country can impose anti dumping duty on the products to protect its domestic industry.
- Anti-Dumping Duty is imposed under the multilateral World Trade Organisation(WTO)regime and varies from product to product and from country to country.
- In India, anti-dumping duty isrecommended by the Union Ministry of Commerce (i.e. by Directorate General of Anti-dumping & Allied Duties (DGAD)), while the Union Finance Ministry imposes
They are also imposed again the artificially created low prices of products by the exporting country. But the difference is that the low prices are created by giving subsidies like tax breaks, credits etc. Thus, countervailing duty is imposed to provide level playing field to the domestic players vis a vis exporters.
- It is imposed inaccordance with the GATT Article VI and the GATT Agreement on Subsidies and Countervailing Measures.
- Net Neutrality:
Net neutrality is the principle that Internet service providers (ISP) and governments regulating the Internet should treat all data on the Internet the same and should not discriminate or charge differentially.
What is a Zero-Rating Platform?
- Zero-rating platforms (ZRP) offer free access to a limited number of sites through select telecom providers.
- Those who wanted unrestricted access to the entire internet would still have to pay, but the poor would have access to a few useful sites offered by them.
- Facebook’s Free Basics is an example.
- The TRAI last year ruled to end the Free Basics in India.
- Chief Information Commissioner:
The Central Information Commission was established by the Central Government in 2005. It was constituted through an Official Gazette Notification under the provisions of the Right to Information Act (2005). Hence, it is not a constitutional body. Mr. Wajahat Habibullah became India’s first Chief Information Commissioner.
The Commission consists of a Chief Information Commissioner and not more than ten Information Commissioners. They are appointed by the President on the recommendation of a committee consisting of the Prime Minister as Chairperson, the Leader of Opposition in the Lok Sabha and a
Union Cabinet Minister nominated by the Prime Minister.
The Chief Information Commissioner and an Information Commissioner hold office for a term of 5 years or until they attain the age of 65 years, whichever is earlier. They are not eligible for reappointment.
- Generalized system preferences:
Generalized System of Preferences (GSP) is a preferential tariff system under which developed countries extend reduced MFN tariffs (Most Favoured Nation) or duty-free entry of certain goods into their markets, to the developing countries. The developed countries, or the countries that extend this trade preference are called donor countries, and the benefit-receiving countries are called beneficiary countries.
- Shivaji statue:
Maharashtra government has announced that the planned statue of Shivaji off the Mumbai coast would be tallest memorial in the world. The mid-sea Chhatrapati Shivaji memorial was originally conceived in the 1980s. The planned memorial would be 210 meters surpassing the height of New York’s Statue of Liberty and the under-construction Statue of Unity of Saradar Vallabhbhai Patel in Gujarat.
- Trade framework agreement
TIFA is a trade pact between two or more countries which establishes a framework for expanding trade and resolving outstanding disputes between countries. TIFA is the first step towards an FTA. The best example of a TIFA is the one reached by ASEAN and the United States in 2009.
- Neutralized drones
The government is set to unveil a framework to regulate unmanned aircraft systems in the country
The Ministry of Civil Aviation had released draft rules for unmanned aircraft systems in November last year and proposed to ban their operation within 5 km radius of an airport and 50 km from an international border.
Aviation security watchdog BCAS (Bureau of Civil Aviation Security) has finalised a strategy to neutralise drones near airports.
The strategy deals with drones operating near aerodromes as the body is mandated to ensure aviation security.
The Ministry of Home Affairs may prepare a separate plan to deal with drone attacks in sensitive zones such as Parliament.
1.Consider the following statements
- Chief Information Commissioner is appointed by the president on the recommendation of Supreme Court
- CIC holds the office for a term of 5 years or until the age of 65 years
Select the correct code from below
- Only 1
- Only 2
- With reference to ‘Anti dumping duty’, select the correct statement from below:
- It is imposed after an investigation finds that a foreign country subsidizes its exports, injuring domestic producers in the importing country.
- It is tariff barrier imposed by government on the commodities to ensure that imports in excessive quantities do not harm the domestic industry.
- It is a trade levy imposed by any government on imported products which have prices less than their fair normal values in their domestic market.