ECONOMY - 2019 August

August 2

Ministry of Finance through the Department of Revenue is conducting India’s first national Time Release Study (TRS) between 1st and 7th August to enable faster movement of cargo across borders to benefit traders. The TRS is an internationally recognized tool advocated by World Customs Organization (WCO) to measure the efficiency and effectiveness of international trade flow. The initiative is on ground lead by the Central Board of Indirect Tax and Customs.

Khanij Bidesh India Ltd. (KABIL) a joint venture company has been set up with the participation of three Central Public Sector Enterprises namely National Aluminium Company Ltd. (NALCO), Hindustan Copper Ltd. (HCL), and Mineral Exploration Company Ltd. (MECL) to ensure a consistent supply of critical and strategic minerals to Indian domestic market. The newly setup company will ensure supply of Lithium and Cobalt which is available less in quantity in the country.