Here are Back2Basics collections from today’s news items
B2B #1: From news – GSP: win-win for Indo-U.S. trade
Generalised System of Preferences
- The GSP is one of the oldest trade preference programmes in the world, and was designed to provide zero duties or preferential access for developing countries t o advanced markets.
- The U.S. GSP programme was established by the U.S. Trade Act of 1974, and promotes economic development by eliminating duties on thousands of products when imported from one of the 129 designated beneficiary countries and territories.
- In April 2018, the Office of the United States Trade Representative (USTR) announced that it would review the GSP eligibility of India, Indonesia, and Kazakhstan.
- The proposed review for India was initiated in response to market access petitions filed by the U.S. dairy and medical device industries due to recent policy decisions in India, which were perceived as trade barriers.
B2B #2: From news – [op-ed snap] Countering India’s labour market imbalances
NITI Aayog Action Agenda
- The draft “Three Year Action Agenda” of the NITI Aayog been released in 2017 for 2017-18 to 2019-20.
- It focuses on seven key areas that include revenue and expenditure, economic transformation in major sectors, regional development, growth enablers, and reforms in governance, social sectors and sustainability.
- Itis said to be a phasing out of FYP as a concept.
Here’s a Factoid to brush up your concepts
Name of the scheme : Jeevan Pramaan
Salient Features : It is an Aadhaar based Biometric Authentication System for Pensioners. The system provides authenticity to Digital Life Certificate without the necessity of the pensioner being present in person before his/ her Pension Dispensing Authority (PDA).
Nodal Ministry : The Ministry of Electronics and Information Technology (MeitY)