Sarat Chandra IAS Academy

Important Terms in 20th October -2020 News

 

National Company Law Appellate Tribunal (NCLAT):

  • It was constituted under Section 410 of the Companies Act, 2013 for hearing appeals against the orders of National Company Law Tribunal.
    -NCLAT is also the Appellate Tribunal for hearing appeals against the orders passed by NCLT(s) under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC).
    -NCLAT is also the Appellate Tribunal for hearing appeals against the orders passed by Insolvency and Bankruptcy Board of India under Section 202 and Section 211 of IBC.
  • NCLAT is also the Appellate Tribunal to hear and dispose of appeals against any direction issued or decision made or order passed by the Competition Commission of India (CCI).

 

Disinvestment:

  • Disinvestment means sale or liquidation of assets by the government, usually Central and state public sector enterprises, projects, or other fixed assets.
  • The government undertakes disinvestment to reduce the fiscal burden on the exchequer, or to raise money for meeting specific needs, such as to bridge the revenue shortfall from other regular sources.
  • Strategic disinvestment is the transfer of the ownership and control of a public sector entity to some other entity (mostly to a private sector entity).
    -Unlike the simple disinvestment, strategic sale implies a kind of privatization.

 

The National Statistical Office:

  • NSO is the central statistical agency of the Government mandated under the Statistical Services Act, 1980 under the Ministry of Statistics and Programme Implementation.
  • It is responsible for the development of arrangements for providing statistical information services to meet the needs of the Government and other users for information on which to base policy, planning, monitoring and management decisions.
    -The services include collecting, compiling and disseminating official statistical information.
    -All business operations in NSO are done in compliance with international standards, procedures and best practices.

 

Gross Value Added (GVA):

  • It is the sum of a country’s GDP and net of subsidies and taxes in the economy. It provides the rupee value for the amount of goods and services produced in an economy after deducting the cost of inputs and raw materials that have gone into the production of those goods and services.
  • Gross Value Added = GDP + subsidies on products – taxes on products.

Leave a Comment

Your email address will not be published. Required fields are marked *