Economy
India to allow vehicles from neighbouring SAARC members from 2016

As a first step, from 2016, India will start issuing international permits for vehicles entering the country from some of its neighbours, covering both commercial and passenger category, from Bangladesh

During the last summit meeting of South Asian Association for Regional Cooperation (SAARC), India made a commitment that it would issue international permits for vehicles to enter the country from our neighbouring states. This move would enable members from this eight-nation group, such as Afghanistan, Bangladesh, Bhutan, Maldives, Nepal, Pakistan, Sri Lanka and India to be able to extend vehicular traffic into each others' territory. It may be remembered that there is already this facility, on a regular basis, between India and Pakistan, at the Wagah border.

 

Similar arrangements exist with Bangladesh and Myanmar, though operative on a much smaller scale.

 

We are aware of the South Asian Free Trade Area or SAFTA agreement on goods, which came into force from January 2006, involving developing countries, such as India, Pakistan and Sri Lanka to bring down their customs duties to 20% in the first phase of the two-year period ending in 2007 and to zero by 2016 in phases.

 

As a first step, from 2016, India will start issuing international permits for vehicles entering the country from some of its neighbours, covering both commercial and passenger category, from Bangladesh. Later on, this is likely to be extended to Nepal, Bhutan and Myanmar.

 

This arrangement is to coincide with the proposed plan to build a dedicated international highway. When the road permits are issued, these will be included with an IT tracker, which will enable easy location and to keep a watch on the movement of vehicle concerned, if necessary.

 

In the next two years, all the relative arrangements in regard to the introduction of such traffic, including special customs clearance needs, check posts, possibly x-ray or scanning equipments (advanced types) to ensure movement is smooth and without hassle. Yet, at the same time, easy movement does not permit contraband items being brought in or smuggling made easy!

 

It would also follow that when reciprocal arrangements become effective it would help greater movement of vehicular traffic from India too.

 

With a large network of railway system in the country, there is scope for developing this also extensively into Bangladesh, Myanmar and

Sri Lanka.

 

(AK Ramdas has worked with the Engineering Export Promotion Council of the ministry of commerce. He was also associated with various committees of the Council. His international career took him to places like Beirut, Kuwait and Dubai at a time when these were small trading outposts; and later to the US.)

User

Doctor payments on the decline

Pharmaceutical company payments to health care professionals dropped between 2011 and 2012 among most of the companies and categories

Pharmaceutical company payments to health care professionals dropped between 2011 and 2012 among most of the companies and categories ProPublica tracks, driven in part by increased transparency as well as blockbuster drugs losing patent protection. Research payments, however, have increased among that group. Search: Has Your Health Professional Received Drug Company Money?
 

Speaking
 

Payments to health care providers for speaking decreased by 38.1% among the nine companies that reported for both years.
 

Research
 

Payments to health care providers for research increased by 6.9% among the six companies that reported for both years.

Meals
 

Payments to health care providers for meals decreased by 20.9% among the seven companies that reported for both years.
 

Travel

Payments to health care providers for travel decreased by 29.1% among the six companies that reported for both years.

 

Consulting
 

Payments to health care providers for consulting decreased by 18.7% among the nine companies that reported for both years.

Items or gifts
 

Payments to health care providers for items or gifts decreased by 47.3% among the four companies that reported for both years.
 

Courtesy: ProPublica.org

User

Is the fair value of dollar below Rs60?

The sharp fall in exports a matter of concern, says SBI Research

The trade numbers released indicate export declining by 3.7% and imports registering a de-growth at17.1%. As a result the overall trade deficit narrowed to $8.1 billion. According to SBI Research the point of concern is the decline in exports even at a dollar value of over Rs 60. Adding to the export woes is the fact that EU’s Generalized Scheme of Preferences (GSP) designed to support developing countries export to the European Union (EU) will now be not applicable to India, points out SBI Research. Mineral products, textiles, motor vehicles, bicycles and chemicals originating in India will no more invite preferential treatment.

 

According to SBI Research, there is also the concern on gold imports. Although gold imports from official channels has declined, the vast inelastic demand for gold further fuelled by high domestic prices premium, has now been made good by unofficial channels.

 

Finally, SBI Research believes that though the fair value of the rupee is below 60 to the US dollar, RBI will continue to bolster reserves, and the rupee will continue to trade in the current range with gains unlikely beyond 60.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)