Current Affairs > Daily Current affairs

My notes 31DEC2015 31-12-2015


Inverted duty structure refers to taxation of inputs at higher rates than finished products which results in building up of credits and cascading costs. Industry has been demanding that government should remove the anomalies with regard to taxation of raw material and other inputs





It is a rural traditional sport played in TN, where a spirited ban has to take the control of an enraged bull. It is seen as a violation of animal rights in the argument for tradition and culture.

Supreme Court had banned Jallikattu and other related races such as bullock cart races, ignoring the argument for tradition and culture.

The recent request of TN to revive the Jalikattu through parliamentary or ordinance route is seen as a retrogressive step.

A welcomes hopeful after a glow

The recent Prime minister visit to Lahore is welcomed by all the political parties, Media alike. The anti-India rhetoric in Pakistan is also coming down.

Both the countries with commitment at the highest political level from Prime Minister Modi and Sharif can take the peace agenda forward. Tackling with Terrorism, settling issues such as sir creek pending the Kashmir can be taken forward with a new hope.

Textile scheme

Government of India cleared amended technology upgradation fund scheme – In this apparel, Garment and technical textiles will get will get 15% of subsidy on capital investment, subject to a max ceiling of 30 crores over 5 years.

On the other years a 10% subsidy is given on capital investment to a maximum of 20 crores over a period of five years.

The existing scheme does not cover the spinning sector, where already excessive capacities exist.


It can improve the employment generation in Textile sector and can make them globally competitive.

Technical textiles – These are products manufactured for protective clothing, textiles used in applications such as automotive and Medical field.

Government created incubation centers in this field.

Steps to improve the exports

  • Separate foreign trade policy for each state.
  • Inverted duty structure will be addressed in the coming budget.
  • Products from SEZs will be allowed to be sell in domestic traffic area
  • Removal/lowering of MAT and dividend distribution tax on SEZs
  • Interest subvention on export credit
  • Easing of guidelines for ASIDE

World’s multilateral moment

Success of Iran Nuclear deal with P5+1 talks, Paris climate change conference shows the signs of multilateralism. In all these important negotiations USA confined itself as a partner to the negotiations with other members rather than behaving unilaterally.

President Obama policy of retreat from unilateralism, change in global economic architecture and power politics are the reasons for this.

On the other side, growing right wing in the west, antagonistic bipolarity at the regional level( India and Pakistan, Russia and Ukraine, Japan and China) are the major threats for the growing multilateralism.


Across the USA and India alike, the tuition fees are increasing due to the Government s withdrawal of budgetary support. In this context, alumni can provide a greater support to increase employability, run the scholarships and to enrich the educational experience.










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