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Current Affairs – 06-12-2017

1. SC ALLOWS TRAVEL BAN

The US Supreme Court ruled that a ban ordered by Donald Trump on travelers from six Muslim-majority countries and two other countries could be immediately imposed while multiple court cases challenging the ban are resolved.

  • The ultimate disposition of the ban was expected to take months to resolve. But the 7-2 ruling by the high court was a blow to anti-discrimination advocates, who vowed to protest against the decision.
  • The ban means that the United States would categorically refuse entry visas to prospective travelers from Chad, Iran, Libya, Somalia, Syria and Yemen, plus North Korea and Venezuela. Under an executive action announced in July, an exception would be made for travelers with “bona
    fide” links inside the United States such as documented business purposes or close family relationships.

2. MEIS SCHEME

Merchandise Exports from India Scheme (MEIS) is one of the two schemes introduced in Foreign Trade Policy of India 2015-20, as a part of Exports from India Scheme.The Government of India has brought in the Merchandise Exports Incentive Scheme (MEIS), replacing five other similar incentive schemes present in the earlier Foreign Trade Policy 2009-14. The schemes that have been replaced by the MEIS scheme include:

1. Focus Product Scheme (FPS)
2. Focus Market Scheme (FMS)
3. Market Linked Focus Product Scheme (MLFPS)
4. Agri. Infrastructure incentive scheme
5. Vishesh Krishi Gramin Upaj Yojna (VKGUY)

As per the present FTP, the MEIS scheme does not aim to merely replace these five schemes but also aims to rationalize the incentives and enlarges their scopes by removing various restrictions.

The Objective of the MEIS Scheme:To offset infrastructural inefficiencies and the associated costs of exporting products produced in India giving special emphasis on those which are of India’s export interest and have the capability to generate employment and enhance India’s competitiveness in the world market.

About the Scheme

  • With the aim in making India’s products more competitive in the global markets, the scheme provides incentive in the form of duty credit scrip to the exporter to compensate for his loss on payment of duties. The incentive is paid as percentage of the realized FOB value (in free foreign
    exchange) for notified goods going to notified markets. To determine the quantity of incentive, the countries have been segregated into three groups. Incentives on export of each product at 8-digit level (ITC HS codes), depend on the group in which its destination country belong.
  • There are essentially three country groups. Group A has India’s traditional destinations such as the EU countries and USA. Group B has the maximum number of countries and covers almost all of India’s major export destinations globally. It is worth mentioning here that Group B has the highest
    quantum of incentive. Group C on the other hand has no incentive at all. It can be divided into, SAARC, Australia and New Zealand, some EU and African countries.
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