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What are business cycles?
What does a BCDC do?
International experiences of business cycle dating committees:
Why does India need a BCDC?
Who should be in charge of a BCDC?
Creating a BCDC will go a long way in maintaining transparency, strengthening the information base for the Indian economy and helping gauge better the changing nature of the Indian economy. This will also help India to be more in synchronization with the other developed and emerging market economies. An important op-ed for Mains.
Important for pre and mains both. Note key features for prelims.
Very important for pre and mains. Such information often becomes useful while penning down Mains answer.
Locate Peru on atlas and see the bordering countries and oceans. Note the significance of Peru from mains perspective.
Important for prelims.
The news has a lot of reform or way forward points for trade & commerce in/by India.
1.Directorate General of Foreign Trade (DGFT) organisation is an attached office of the Ministry of Commerce and Industry and is headed by Director General of Foreign Trade.
2.From its inception till 1991, when liberalization in the economic policies of the Government took place, it has been essentially involved in the regulation and promotion of foreign trade through regulation. Keeping in line with liberalization and globalization and the overall objective of increasing of exports, DGFT has since been assigned the role of “facilitator”. The shift was from prohibition and control of imports/exports to promotion and facilitation of exports/imports, keeping in view the interests of the country.
3. It is responsible for formulating and implementing the Foreign Trade Policy with the main objective of promoting India’s exports.
Council for Trade Development and Promotion was constituted in order to ensure a continuous dialogue with State Governments and UTs on measures for providing an international trade enabling environment in the States and to create a framework for making the States active partners in boosting India’s exports.
It’s composition is as following: