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PIB News synopsis 04th December 2019

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1)Navy Day : Navy Day in India is celebrated on 4 December every year to recognize the achievements and role of the Indian Navy to the country. 4 December was chosen as on that day in 1971, during Operation Trident, the Indian Navy sank four Pakistani vessels including PNS Khaibar, killing hundreds of Pakistani Navy personnel.

2)Bharat Bond Exchange Traded Fund:– Bharat Bond Exchange Traded Fund (ETF) to create an additional source of funding for Central Public Sector Undertakings (CPSUs) Central Public Sector Enterprises (CPSEs), Central Public Financial Institutions (CPFIs) and other Government organizations.  Bharat Bond ETF would be the first corporate Bond ETF in the country.

Features of Bharat Bond ETF:

ETF will be a basket of bonds issued by CPSE/CPSU/CPFI/any other Government organization Bonds (Initially, all AAA rated bonds)

•       Tradable on exchange

•       Small unit size Rs 1,000

3)First Manned Mission:- The Human Space Mission: Gaganyaan is targeted for December 2021. The Gaganyaan Programme has been approved by the Government of India.

GSLV Mk III launcher which is ISRO’s heavy lift launcher is identified for Gaganyaan mission.

4)Anti-Dumping Duty:- Directorate General of Trade Remedies (DGTR) conducts anti-dumping investigations, under the Customs Tariff Act, 1975.

In India, anti-dumping duty to be levied is recommended by Ministry of Commerce (i.e. by DGAD), while Finance Ministry imposes it.

What is Dumping :- Dumping is a process where a company exports a product at a price lower than the price it normally charges in its own home market.

An anti-dumping duty is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value.

5)What is a Trade War :- A trade war—a side effect of protectionism—happens when country A raises tariffs on country B’s imports in retaliation for them raising tariffs on country A’s imports. This continuing cycle of increased tariffs may lead to injuring the businesses and consumers of the involved nations, as the prices of goods increase due to increased import costs.

Recent example was USA and China trade war.

6)Hornbill festival :- Is celebrated in Nagaland.

7)Compressed Bio Gas (CBG) Plants:- Under Sustainable Alternative Towards Affordable Transportation (SATAT) initiative, Public Sector Oil Marketing Companies (OMCs), Gail (India) Limited (GAIL) and Indraprastha Gas Limited (IGL) have issued Letters of Intent (LoIs) for setting up Compressed Bio Gas (CBG) plants in the country.

Under this initiative entrepreneur is responsible for arranging finance for setting up CBG plants.

 

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