- India’s National Trade Facilitation Action Plan (NTFAP) has been described as a Best Practice by World Customs Organization. 51 of the 76 activities mentioned in NTFAP went beyond the implementation requirement of the World Trade Organizations’s Trade Facilitation Agreement (TFA).
The NTFAP, to be implemented between 2017 and 2020, is a part of India’s efforts to improve its ease of doing business ranking , which is 130 in world bank’s Doing Business report.
India ranks 144 out of 190 countries in the Trading Across Borders category.
TFA- Meant to ease custom norms for faster flow of goods across borders, came into effect in February 2017.
- The U.K Government appointed Baroness Brinda Majorie as the first women president of the Supreme Court.
- United States confirmed plans to ban its nationals from travelling to North Korea, in wake of the death of American student Otto Warmbier during a tourist visit.
- Finance Ministry clarified that AADHAR is not required for transaction above Rs. 50,000, however, the provision of PAN is mandatory in such transactions.
- WWR– War Wastage Reserve.