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All India Radio News Summary: 03 FEBRUARY 2018

All India Radio News Summary: 03 FEBRUARY 2018

  1. India’s first sentiment index, CriSidEx, for micro and small enterprises (MSEs)  was launched

Finance Minister launched India’s first sentiment index, CriSidEx, for micro and small enterprises (MSEs) in New Delhi.

  • The index has been developed jointly by Small Industries Development Bank of India and CRISIL.
  • CriSidEx is a composite index based on a diffusion index of eight parameters and measures Micro and Small Enterprises business sentiment on a negative to positive scale.
  • The current parametric feedback was captured through a survey of one thousand one hundred MSEs in November and December last year.

Significance

  • This index will give the detailed breakup of the sentiments and analysis as the sector sees it for the current quarter and the next quarter.
  • The index will be of greater use as far as policy making is concerned so that the necessary changes can also be brought in to ensure that the government continues to perform its role as facilitator.

MSE sector is almost the backbone of the economy as it is one of the largest employers in the country and its health is quite vital to the economy.

This is one sector where people not only exhibit their entrepreneurial Skills, become part of large value change, but then also become job creators in the process.

 

  1. Political uncertainty prevails in Maldives following Supreme Court order to release former President Mohammed Nasheed.
  • Political unrest continued in the country after the Supreme Court ordered the release and retrial of opposition leaders including exiled former President Mohammed Nasheed.
  • Maldivian President Yameen said, he was open to holding an election several months before his term ends next November.
  • Opposition parties in the Maldives have appealed to the international community including the United Nations, European Union, and India to impress upon the Government to respect the Supreme Court ruling.
  • The court has ordered the release of Opposition leaders including former President Mohamed Nasheed and called for a fair retrial of cases against them.
  • Western countries including the US and UK have welcomed the Supreme Court verdict. 
  • India has said, in the spirit of democracy and rule of law, it is imperative for all organs of the Government of Maldives to respect and abide by the order of the apex court.

 

  1. First ever global investors summit at Guwahati in Assam – ‘Advantage Assam’

One hundred and sixty MoUs with investment proposals of over 64,000 crore rupees were signed on the opening day of the first ever global investors summit at Guwahati in Assam.

The summit hosted by the Assam government is a new beginning and will open a new chapter in boosting the relationship with ASEAN countries.

  • Prime Minister said, North-East is at the heart of the Act East policy of the Government.
  • Development of North-Eastern states is important for the overall development of the country.
  • The two-day event will showcase the state’s manufacturing opportunities and geo-strategic advantages to foreign and domestic investors.
  • The objective of the Summit is to position Assam as India’s Expressway to ASEAN countries.
  • Assam is ranked first among the North Eastern states in the ease of doing business.

 

  1. Government has removed the minimum export price (MEP) of onion to boost exports

A notification issued by the Directorate General of Foreign Trade said that all varieties of onions can be exported now without any MEP.

Last month, the government had cut the MEP by one hundred and fifty dollars per tonne as prices of the vegetable were moderating.

MEP is imposed time and again to check rising prices.