Which of the following best describes ‘Anti-Dumping’ duty?
a) a protectionist tariff imposed on foreign imports that are priced below fair market value.
b) an import tax imposed on certain goods in order to prevent piracy.
c) tax imposed on the import of the goods pertaining to core industrial sectors.
d) None of the statements a, b and c are correct.
2)The Agreement on Trade-Related Investment Measures (TRIMs), is related to
a) Current Account Convertibility
b) Domestic regulations a country applies to foreign investors
c) Most-favoured Nation principle
d) Duty free International market access to developing countries
3)Consider the following statements regarding Current account convertibility.
1. Current account convertibility means freedom to convert domestic currency into foreign currency and vice versa for trade in goods and invisibles.
2. Under current account convertibility for rupee, an exporter can sell the foreign currency he obtained from exporting a commodity at the market determined exchange rate in India.
3. There is partial Current account convertibility in India, so as to limit imports into the country.
Which of the above statements is/are correct?
a) 1, 2
b) 1, 3
c) 2, 3
d) 1, 2, 3
Prelims Specific News Items :-
- About the Fair and Remunerative Price(FRP):
The Fair and Remunerative Price(FRP) is the minimum price that sugar mills have to pay to sugarcane farmers.
FRP is determined by the Central Government on the basis of the recommendations of the Commission for Agricultural Costs and Prices(CACP).
The ‘FRP’ of sugarcane is determined under Sugarcane (Control) Order and announced by the Cabinet Committee on Economic Affairs(CCEA).
The final FRP is arrived at by taking into account various factors such as cost of production, domestic and international prices, overall demand-supply situation, intercrop price parity among others.
2) Children’s Climate Risk Index (CCRI)
Recently UNICEF along with ‘Fridays with Future’ launched a new report called “The Climate Crisis Is a Child’s Rights Crisis” highlighting the impact of climate change on the lives of children.
The report introduces the new Children’s Climate Risk Index (CCRI), a composite index that ranks nations based on children’s exposure to climate shocks, providing the first comprehensive look at how exactly children are affected by the climate crisis
Approximately 1 billion children — nearly half the world’s child population — live in countries that are at an “extremely high risk” from climate impacts.
Almost every single child on the planet has been exposed to at least one climate or environmental stressor, such as air pollution, flooding, heat waves, tropical storms, flooding or drought.
The report found that children are “highly exposed” to exceedingly high levels of air pollution, water scarcity, heat waves, vector-borne diseases, tropical storms and coastal flooding.
The 33 extremely high-risk countries for children — including the Central African Republic, Chad, Nigeria, Guinea and Guinea-Bissau — collectively are responsible for a mere 9% of global carbon dioxide emissions, reflecting deep inequity regarding who must ultimately deal with the consequences of climate change.
3)The Global Manufacturing Risk Index 2021 has been released.
About Global Manufacturing Risk Index:
Released by: US-based property consultant Cushman & Wakefield
Purpose: To assess and rank the most advantageous locations for global manufacturing among 47 countries in Europe, the Americas and Asia-Pacific (APAC).
Parameters: The ranking is determined based on four key parameters:
Country’s capability to restart manufacturing
Business environment (availability of talent/labour, access to markets)
Risks (political, economic and environmental).
Key Findings of the Index:
India has overtaken the United States (US) to become the second-most sought-after manufacturing destination globally.
China remains at the number one position and the US is now at the third position.
4) About UN Assistance Mission in Afghanistan(UNAMA):
UNAMA is a UN Special Political Mission established to assist the state and the people of Afghanistan in laying the foundations for sustainable peace and development.
Established in: UNAMA was established in 2002 by United Nations Security Council Resolution 1401.
Mandate: Its original mandate was to support the implementation of the Bonn Agreement. Reviewed annually, this mandate has been altered over time to reflect the needs of Afghanistan.
Bonn Agreement was the initial series of agreements passed in 2001 and intended to recreate the State of Afghanistan following the U.S. invasion of Afghanistan in response to the September 11, 2001, terrorist attacks.
Headquarters: Kabul, Afghanistan.
5)Privacy invasion: The Delhi High Court has observed that ‘right to privacy’ includes the right to be forgotten and the right to be left alone while directing various online platforms, including YouTube, to take down certain objectionable video clips of a Bengali actor.
Justice Asha Menon was of the opinion that “the right to privacy of the plaintiff(woman) is to be protected, especially when it is her person that is being exhibited, and against her will”.
6) New Drone rules :- The Drone Rules, 2021, were issued on Wednesday and they supersede the Unmanned Aircraft System (UAS) Rules, 2021, which had come into force on March 12.
The aim of the government is to make India a global drone hub by 2030.
What are the various relaxations in the new rules :-
To begin with, the total number of forms that were to be filled has been reduced from 25 to five, and the total number of fees that are to be paid before being able to operate drones has been reduced from 72 to just four.
The various approvals that were required, such as unique authorisation number, unique prototype identification number, certificate of manufacturing and airworthiness, certificate of conformance, certificate of maintenance, import clearance, acceptance of existing drones, operator permit, authorisation of R&D organisation, student remote pilot licence, remote pilot instructor authorisation, and drone port authorisation etc have been abolished.
In addition to this, the quantum of fees, which was earlier linked to the size of drone, has been reduced and delinked from the size. For example, the remote pilot license fee, which was Rs 3,000 for a large size drone, has been reduced to Rs 100 — which is the fee for all categories of drones.
What is the new Digital Sky platform :- The Civil Aviation Ministry said the Digital Sky platform that it envisaged earlier will be developed as a single-window platform for the clearances that are required.
To add to this, an interactive airspace map will also be displayed on the platform that will show the three zones — yellow, green and red.
These zones have been demarcated to tell drone operators where they can and cannot fly their aircraft systems. Even in these zones, the government has significantly liberalised the rules. For example, the yellow zone, which was earlier a 45 km zone from the airport perimeter, has now been reduced to a 12 km zone, meaning that outside of a 12 km radius of an airport perimeter, it would be a green zone, where drone operators no longer need permission to fly.
Earlier, prior to issuance of a registration or licence, a security clearance was necessary. Now, the government has done away with the need for this clearance. Also, on the part of companies operating drones, foreign ownership has been allowed.
However, the import of drones will continue to be regulated by the Directorate General of Foreign Trade.
7) Indian firm to build a bridge in the Maldives :- The contract for the largestever infrastructure project in the Maldives was signed in Male on Thursday. The Greater Male Connectivity Project ( GMCP) will consist of a 6.74 km long bridge and causeway link between Male and the nearby islands of Villingli, Gulhifalhu and Thilafushi. Indian construction giant AFCONS has been tasked with completing the project.
8) UN bans British stamps in Chagos island :- Mauritius has welcomed the UN postal agency’s decision to ban British stamps from being used on the Chagos archipelago, calling it a victory for the island nation in its dispute with London(Britain).
Mauritius became independent in 1968 but still the British call their sovereignty on the island of Chagos saying that it has been their part since 1814.
Some Background :-
- The International Court of Justice (ICJ) in The Hague has said in an advisory opinion that Britain has an obligation to end its administration of the Chagos Archipelago.
- The Chagos Islands are home to the U.S. military base of Diego Garcia, under lease from the United Kingdom since the 1960s.
Why UK needs Chagos?
- The defence facilities on the British Indian Ocean Territory help to protect people here in Britain and around the world from terrorist threats, organised crime and piracy.
- Britain says that the islands will be returned to Mauritius when they are no longer needed for defence purposes.
Why ICJ intervened?
- In his statement, the judge also noted that the original agreement had not allowed for third party involvement in the territory.
- The base’s construction led to the displacement of some 1,500 people, who have been unable to return to the islands.
SEE THE CHAGOS ARCHIPELAGO LOCATION IN MAP FROM HERE
What is Universal Postal Union :-
The Universal Postal Union, established by the Treaty of Bern of 1874, is a specialized agency of the United Nations (UN) that coordinates postal policies among member nations, in addition to the worldwide postal system.
The UPU contains four bodies consisting of the Congress, the Council of Administration (CA), the Postal Operations Council (POC) and the International Bureau (IB).
It also oversees the Telematics and Express Mail Service (EMS) cooperatives. Each member agrees to the same terms for conducting international postal duties.
The UPU’s headquarters are located in Bern, Switzerland.
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