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Government imposed anti-dumping duty on stainless steel

Duty is imposed from 5 to 57% on import of cold-rolled flat products of stainless steel for five years.Countries on which duty is imposed: China, South Korea, the US, South Africa, Thailand and Taiwan, European Union.Imposition is highest on China and least on Thailand.

what is Dumping?
Dumping is said to occur when the goods are exported by a country to another country at a price lower than its normal value. This is an unfair trade practice which can have a distortive effect on international trade. 

What is Anti-Dumping
Anti dumping is a measure to rectify the situation arising out of the dumping of goods and its trade distortive effect. Thus, the purpose of anti dumping duty is to rectify the trade distortive effect of dumping and re-establish fair trade. The use of anti dumping measure as an instrument of fair competition is permitted by the WTO.

Legal definition of dumping
It means export of goods by a country to another country at a price lower than its normal value. Thus, dumping implies low priced imports only in the relative sense (relative to the normal value), and not in absolute sense.Import of cheap products through illegal trade channels like smuggling; do not fall within the purview of anti-dumping measures.

Difference between Anti-Dumping and Normal Custom Duty Charge
Although anti dumping duty is levied and collected by the Customs Authorities, it is entirely different from the Customs duties not only in concept and substance, but also in purpose and operation. The following are the main differences between the two: - 
a. Conceptually, anti dumping and the like measures in their essence are linked to the notion of fair trade. The object of these duties is to guard against the situation arising out of unfair trade practices while customs duties are there as a means of raising revenue, and for overall development of the economy.
b. Customs duties fall in the realm of trade and fiscal policies of the Government while anti dumping and anti subsidy measures are there as trade remedial measures.
c. The object of anti dumping and allied duties is to offset the injurious effect of international price discrimination while customs duties have implications for the government revenue and for overall development of the economy.
d. Anti dumping duties are not necessarily in the nature of a tax measure in as much as the Authority is empowered to suspend these duties in case of an exporter offering a price undertaking. Thus, such measures are not always in the form of duties/tax.
e. Anti dumping and anti subsidy duties are levied against exporter / country in as much as they are country specific and exporter specific as against the customs duties which are general and universally applicable to all imports irrespective of the country of origin and the exporter.

Thus, there are basic conceptual and operational differences between the customs duty and the anti dumping duty. The anti dumping duty is levied over and above the normal customs duty chargeable on the import of goods in question.

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Varanasi and Jaipur make it to UNESCO’s Creative City Network

First time 2 Indian cities have been selected in UNESCO's Creative City Network.Varanasi and Jaipur, selected as the City of Craft and City of Music respectively.

About Creative Cities Network.
-  Created in 2004.
- Aim: to promote cooperation with and among cities which have identified creativity as a strategic factor for sustainable urban development.
- 69 cities are members of this network.
- Objective of the members: placing creativity and cultural industries at the heart of their development plans at the local level and cooperating actively at the international level.
- The Network covers seven creative fields: Crafts and Folk Arts, Media Arts, Film, Design, Gastronomy, Literature and Music.
The UNESCO Creative Cities Network aims to:
• strengthen international cooperation between cities that have recognized creativity as a
strategic factor of their sustainable development;
• stimulate and enhance initiatives led by member cities to make creativity an essential
component of urban development, notably through partnerships involving the public and
private sectors and civil society.
• strengthen the creation, production, distribution and dissemination of cultural activities, goods and services;
• develop hubs of creativity and innovation and broaden opportunities for creators and
professionals in the cultural sector;
• improve access to and participation in cultural life as well as the enjoyment of cultural goods
and services, notably for marginalized or vulnerable groups and individuals;
• fully integrate culture and creativity into local development strategies and plans.  

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Government of India Signs MoU to establish 3 IIITs

The Central Government today signed Memorandum of Understanding and documentation for establishing three Indian Institute of Information Technology (IIITs) at Ranchi, Nagpur and Pune. These IIITs will be operated on a Public-Private-Partnership (PPP) mode with participation of State Government and Industry, apart from the Central Government.
- Motive: to bring out high quality IT manpower required for building up IT industry in the country.

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Naseeruddin Shah honoured with lifetime achievement award at the 12th DIFF


At the 12th edition of the Dubai International Film Festival (DIFF), Naseeruddin Shah was awarded the Lifetime Achievement Award.Other winning actors: French actress Catherine Deneuve, Egyptian actor Ezzat Al Alayli and French-Tunisian actor Sami Bouajila 

About Dubai International Film Festival (DIFF)
- Started in 2004
- It is an influential platform for Arab filmmakers and like talents at an international level.

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Famous Author Salman Rushdie Awarded Mailer Prize For Lifetime Achievement

Salman Rushdie is the recipient of the Mailer Prize for lifetime achievement in 2015.He is the author of "Midnight's Children," ''The Satanic Verses" and other novels.He is a former president of the American chapter of PEN, which is a literary and human rights organization. 

About Norman Mailer Prize/ Mailer Prize
- It is an American literary award established in 2009 by The Norman Mailer Center and The Norman Mailer Writers Colony. 
-Aim: to celebrate writers and their works.

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New diesel vehicle registration banned in Delhi.

National Green Tribunal(NGT) has banned registration of new diesel vehicle in Delhi, also renewal of registration of vehicles with age of more than 10 years. It is done to curb the pollution of the city. The verdict also contains the order for the central and state government must stop buying diesel cars in Delhi. These will be interim steps till the next date of hearing on January 6.
About National Green Tribunal
-Established in 2010 under the National Green Tribunal Act 2010 .
-Established for effective and expeditious disposal of cases relating to environmental protection and conservation of forests and other natural resources including enforcement of any legal right relating to environment and giving relief and compensation for damages to persons and property and for matters connected therewith or incidental thereto.
-It is a specialized body equipped with the necessary expertise to handle environmental disputes involving multi-disciplinary issues.

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Dilip Kumar hounoured with Padma Vibhusan Award

Dilip Kumar was honoured with the Padma Vibhusan award. Union home Minister and Maharashtra's Chief minister were present at his home when he received it. The announcement to honour Bollywood veterans Kumar, Amitabh Bachchan and a few others with the prestigious Padma Vibhushan award was made by the government on the eve of Republic Day on January 25, 2015.
About Padma Vibhusan Award
- It is the second-highest civilian award.
- Instituted in 1954.
- It is given for the "exceptional and distinguished service", without distinction of race, occupation, position, or sex.
- It excludes those working with the Public sector undertakings with the exception of doctors and scientists.
- It is announced every year on the eve of Republic Day.

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Memorendum signed between India and South Korea

A New Memorandum of Understanding (MoU) on suspension of collection of taxes during pendency of Mutual Agreement Procedure (MAP) has been signed between India and South Korea. This MoU will relieve the burden of double taxation for the taxpayer in both the countries during the pendency of MAP proceedings. 
- Both sides also noted that transfer pricing dispute cases will be taken-up for MAP under the revised DTAA between India and South Korea. 
- This is a step towards ease of doing business in India for Korean companies as it will relieve economic double taxation and promote cross-border trade and investment.

About MAP (Mutual Agreement Procedure)
-It is an alternate dispute resolution mechanism that allows competent authorities of India and its treaty partner to negotiate a mutually acceptable settlement.

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Dengvaxia - World's first Dengue Vaccine approved

The vaccine is approved by Mexican government.
- It is named as  Dengvaxia.
- It is designed to protect people in the age group 9-45 from all four subtypes of the virus.
- Some Facts about Dengue
1
. 13th june is celebrated as the Anti-Dengue day.
2. Dengue is also known as the breakbone fever.
3. It is a vector borne disease : transmitted by various mosquito species , primarily by Aedes aegypti. It can spread dengue fever, chikungunya, and yellow fever viruses, and other diseases. 
 It is transmitted through:
a
. Organ donation of an infected person.
b. Blood donation of an infected person.
c. Pregnant infected mother to child at birth.

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NHRC celebrates Human Rights Day -10th December every year

It  is celebrated on 10th December every year to commemorate the Universal Declaration of Human Rights (UDHR), which was adopted and proclaimed by the General Assembly of the United Nations in 1948 as the common standard of achievement for mankind. 
- slogan for this year: ‘Our Rights..Our Freedoms…Always’ 
convents have been launched:
1. The International Covenant on Economic, Social and Cultural Rights and 
2. The International Covenant on Civil and Political Rights.
- Conventions signed by India:
1
. International Covenant on Civil and Political Rights, 1966 
2. International Covenant on Economic, Social, and Cultural Rights, 1966, 
3. Convention on the Elimination of All Forms of Discrimination against Women, 1979,
4. Convention on the Rights of the Child, 1989, and 
5. Conventions on the Rights of Persons with Disabilities, 2007. 

About National Human Right Commission of India
- Formed in 1993
- It is an autonomous body.
- It was given a statutory basis by the Protection of Human Rights Act, 1993.
- The NHRC is the national human rights institution, responsible for the protection and promotion of human rights.
- Composition:
The NHRC (National Human Rights Commission) consists of:
1
. A Chairperson , retired Chief Justice of India
2. One Member who is, or has been, a Judge of the Supreme Court of India
3. One Member who is, or has been, the Chief Justice of a High Court
4. Two Members to be appointed from among persons having knowledge of, or practical experience in, matters relating to human rights.
 

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