Why in the discussion?
Differences between the Ministry of Heavy Industries and the Policy Commission have emerged on the proposal of the Commission to put ‘Feet’ (a type of duty or rebate) on two-wheelers to subsidize electric vehicles to promote green transport.
- The Ministry has expressed concern over the ‘Commission’ of the two-wheeler vehicle, which is being used as a ‘duty’ on the widely used transport medium, as it is not only the price hike, but also the practical challenges related to collection of this tax. Will arise.
- The policy commission has proposed to impose a fee. The commission says that it will collect the capital through the fee and it will be used to provide subsidy for electric vehicles.
- Electric vehicles have 12 percent GST, while 28 percent on vehicles with combustion engines (petrol-diesel). This is already 16 percent discount.
- The Ministry of Heavy Industries works to implement schemes and policies for the development of the automobile sector in the country.
- About two crore two-wheelers are sold in the country every year. According to the calculation of the commission, if Rs 500 per vehicle is charged, then around Rs 10,000 crores can be collected.
- However, the problem is that who will collect it, because now all cessors have joined GST.
- The Ministry of Heavy Industries implements plans and policies for the development of India’s automobile sector. About two crore two-wheelers are sold every year.
What is Phibate?
- PhiBet is a type of fee and discount system, in which energy-efficient or environment-friendly activities are rewarded, while penalties for failure to follow such activities.
- This was included in the two reports supported by the Policy Commission in India’s first Global Mobility Summit held in September this year.
- In a report titled ‘Transforming India Mobility’, it was suggested to use the Phibat system to encourage the use of green mobility technologies and to develop a regulatory mechanism to encourage green mobility technologies with phablet systems.
Source: The Hindu, Business Line
Why in the discussion?
After meeting between US President Donald Trump and his Chinese counterpart Xi Jinping, in Buenos Aires, the two leaders agreed to not impose new import duties on each other from January 1, 2019.
Start of trade war
- The two leaders also expressed their commitment to maintain consistent dialogue to end the current trade war, and Trump stopped plans to charge $ 200 billion for goods on China for 90 days.
- In the middle of this year, the US had imposed an import duty on China’s $ 250 billion goods, in response China also imposed a $ 60 billion worth of goods on US.
- Recently China’s global telecommunications company Huiyou Chief Financial Officer Meng Wanzu has been arrested in Canada, on which China has made strong objection and demanded immediate release, it can be a key factor for the trade war. is.
- Huihawi is the world’s largest telecommunications equipment and service provider. Despite global success, it is facing American problems.
- This company was on the target of US intelligence officials and they called it a threat to national security.
- Also, even though the two countries had agreed on the suspension in relation to import duty, there is still room for the trade war to resume.
- The meeting held in Buenos Aires is being associated with the efforts of the League of Nations of the past years.
About the League of Nations (LAN)
- It was an intergovernmental organization formed on January 10, 1920 after the end of the First World War.
- It was the first international organization whose main mission was to maintain world peace.
- After the first World War, it was formed to provide a forum for resolving international disputes.
- Its primary goals include mass security measures, preventing war, disarmament, and resolution of international disputes and resolution by mediation. In addition, the goals included in other related treaties included labor conditions, fair dealing with native residents, illegal human trafficking and drug trade, arms trade, global health, prisoner arrest and security of minorities in Europe.
- Unfortunately, despite its high benchmark, the league could not achieve its goals.
- About two decades after the formation of the League, the second world war took place in 1939 and the German attacked Poland. Hitler had claimed that the leagues violated German sovereignty. German withdrew from the League, many other offensive powers soon followed.
- From the beginning of World War II, it is revealed that the League had failed in its primary objective of not allowing war in the future.
- After the war, the United Nations took its position and joined many organizations and organization organizations established by the League.
Source: Live Mint