Rail Vikas Nigam Limited (RVNL) on 18 April 2015 signed a Memorandum of Understanding (MoU) with Dighi Port Limited (DPL) to facilitate construction of 34 km of railway link between Dighi Port and Roha. Dighi Port is situated in which state?: Maharashtra
Explanation: Dighi Port is developing by a private entity Balaji Infra Projects Ltd (BIPL) under a 50 year Build, Own, Operate, Share, Transfer (BOOST) concession agreement. Dighi port the first small (or non-major) private seaport situated in Raigad district in the Konkan region of Maharashtra. The proposed rail-link between Roha and Dighi Port will ensure connectivity and integration of this region with the Delhi Mumbai Industrial Corridor (DMIC).
To deepen the securitisation market, Sebi has made it easier for banks and public financial institutions to act as what, while a new code of conduct has been put in place to safeguard investors' interest?: Trustees
Explanation: The primary objective was to rationalise and clarify the role and responsibilities of trustee. Thus, the amendments have been made to allow banks and public financial institutions to act as trustees without obtaining registration, while these changes also provide for terms of appointment and capital requirement for trustee and makes it mandatory for the trustees to provide a summary term sheet. Securitisation involves creating a financial instrument by pooling together illiquid assets and then selling them to investors as securities. Therefore,under the new norms, the trustee would call for periodic reports, supervise the implementation of conditions regarding creation of security for securitised debt instruments and take steps to ensure protection of investors as well as resolve their grievances. A special purpose distinct entity and its trustee shall not be party to creation of false market, price rigging or manipulation.
In a bid to improve conditions for doing business, the Commerce Ministry on 13 April 2015 has simplified payment process for exporters and importers who can now start paying fees for different applications through which new mediums?: Debit or credit cards
Explanation: Currently, traders pay fees only manually or through net banking and some 10 documents are needed to fulfil the official obligation. So in a process to simplify the overall process ministry has already shortened the number of mandatory documents required for import and export of goods to three in each case and allowed the more number of ways to pay the fees and thus help to reduce the overall time it take to complete. The process would have kicked in from March 31, but got delayed due to some approval reasons.
The World Economic Forum (WEF) on 13 April 2015 recommended how many actions the Government of India could consider to deliver inclusive urban growth?: 3 (Three)
Explanation: The WEF report highlighted the role the private sector could play to bridge the estimated $110 billion funding gap, which could hinder India`s ability to provide basic urban infrastructure and services to its rapidly growing urban population. The report includes best practice case studies to help guide the Government of India and proposes three strategic recommendations:
- First is integrating spatial planning at all governmental levels: national, state and city. The primary goal of spatial planning is to integrate housing, strategic infrastructure and urban infrastructure, and improve national and local governance in the context of urban development.
- Second is to create a stable policy framework for private investment in urban infrastructure. Once the right conditions for investors have been created, the Government of India needs to look at the various tools available such as public-private partnerships to enable investments in strategic infrastructure and urban development.
- Third, create institutions to stimulate capacity building and attract talent to grow businesses. Organizations will be required to help the private sector increase the quality of white collar service jobs and to attract investment in manufacturing capacity. India also needs "lighthouse" projects with the potential for interdisciplinary collaboration in the area of urban development.
The Food ministry would recommend a hike in import duty on sugar to 40 percent to check sliding price of the sweetener and enable mills to clear mounting cane arrears that has reached almost Rs 20,000 crore so far. What is the current Import Duty on Sugar?: 25 percent
Explanation: Sugar production of India, the world's second largest producer, is estimated to be higher than the domestic consumption for the fifth year in a row. However in August 2014, import duty on both raw and refined sugar was raised to 25 per cent from 15 per cent to bail out the cash-starved sugar industry. Even though the sugar industry is finding difficulty in paying cane price to farmers as mills have been incurring losses for the last few years due to low realisation and high production cost. Thus, the Centre has recently provided a subsidy of Rs 4,000 per tonne for the exports of 1.4 million tonnes of raw sugars to improve the cash-flow of the millers.
The Food ministry would recommend a hike in import duty on sugar to 40 percent to check sliding price of the sweetener and enable mills to clear mounting cane arrears that has reached almost Rs 20,000 crore so far. What is the current Import Duty on Sugar?: 25 percent
Explanation: Sugar production of India, the world's second largest producer, is estimated to be higher than the domestic consumption for the fifth year in a row. However in August 2014, import duty on both raw and refined sugar was raised to 25 per cent from 15 per cent to bail out the cash-starved sugar industry. Even though the sugar industry is finding difficulty in paying cane price to farmers as mills have been incurring losses for the last few years due to low realisation and high production cost. Thus, the Centre has recently provided a subsidy of Rs 4,000 per tonne for the exports of 1.4 million tonnes of raw sugars to improve the cash-flow of the millers.
The World Economic Forum (WEF) on 13 April 2015 recommended how many actions the Government of India could consider to deliver inclusive urban growth?: 3 (Three)
Explanation: The WEF report highlighted the role the private sector could play to bridge the estimated $110 billion funding gap, which could hinder India`s ability to provide basic urban infrastructure and services to its rapidly growing urban population. The report includes best practice case studies to help guide the Government of India and proposes three strategic recommendations:
- First is integrating spatial planning at all governmental levels: national, state and city. The primary goal of spatial planning is to integrate housing, strategic infrastructure and urban infrastructure, and improve national and local governance in the context of urban development.
- Second is to create a stable policy framework for private investment in urban infrastructure. Once the right conditions for investors have been created, the Government of India needs to look at the various tools available such as public-private partnerships to enable investments in strategic infrastructure and urban development.
- Third, create institutions to stimulate capacity building and attract talent to grow businesses. Organizations will be required to help the private sector increase the quality of white collar service jobs and to attract investment in manufacturing capacity. India also needs "lighthouse" projects with the potential for interdisciplinary collaboration in the area of urban development.
In a bid to improve conditions for doing business, the Commerce Ministry on 13 April 2015 has simplified payment process for exporters and importers who can now start paying fees for different applications through which new mediums?: Debit or credit cards
Explanation: Currently, traders pay fees only manually or through net banking and some 10 documents are needed to fulfil the official obligation. So in a process to simplify the overall process ministry has already shortened the number of mandatory documents required for import and export of goods to three in each case and allowed the more number of ways to pay the fees and thus help to reduce the overall time it take to complete. The process would have kicked in from March 31, but got delayed due to some approval reasons.
To deepen the securitisation market, Sebi has made it easier for banks and public financial institutions to act as what, while a new code of conduct has been put in place to safeguard investors' interest?: Trustees
Explanation: The primary objective was to rationalise and clarify the role and responsibilities of trustee. Thus, the amendments have been made to allow banks and public financial institutions to act as trustees without obtaining registration, while these changes also provide for terms of appointment and capital requirement for trustee and makes it mandatory for the trustees to provide a summary term sheet. Securitisation involves creating a financial instrument by pooling together illiquid assets and then selling them to investors as securities. Therefore,under the new norms, the trustee would call for periodic reports, supervise the implementation of conditions regarding creation of security for securitised debt instruments and take steps to ensure protection of investors as well as resolve their grievances. A special purpose distinct entity and its trustee shall not be party to creation of false market, price rigging or manipulation.
On 6 April 2015, The Oil Ministry has allowed national oil companies Oil and Natural Gas Corp (ONGC) and Oil India Ltd (OIL) to sell any new natural gas supplies from their small and isolated fields through which process?: Open Tender (Bidding)
Explanation: The Oil Ministry on April 1 issued amendment to the guidelines for pricing of gas from small and isolated fields by allowing producers to sell gas at market rates by inviting competitive bids from prospective consumers. Companies will fix minimum price for their gas, which would be the prevailing government-determined rate, and ask interested buyers to offer more through bidding. While the government had approved an international gas hub-based formula for all of the domestically produced natural gas in November last year, small and isolated fields were exempt.
