Topic 1: RoDTEP scheme
Why in news: The union government said that it has extended support under the scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) till 30 June 2024.
About the scheme:
- The RoDTEP Scheme was introduced by the government as a duty remission scheme on exports and is being implemented from 1 January 2021.
- RoDTEP (Refund of Duties and Taxes on Exported Products) is a flagship export promotion scheme of the Commerce Ministry of India.
- The government decided to extend the benefit of the RoDTEP scheme to all goods.
- Aims:
- To refund to the exporters the embedded central, state and local duties and taxes paid on inputs that were so far not refunded or rebated.
- To boost the domestic exports and replace the export incentive scheme Merchandise Exports from India (MEIS) scheme.
- This came after a World Trade Organization (WTO) ruling stated that the MEIS scheme violated provisions of the trade agency as it was providing export subsidies for a several range of goods.
Features
- The new export incentive scheme covers 8,555 export items for a cost of around Rs 12,500 crore to the exchequer.
- The refund rate ranges to around 4 per cent of Free on Board (FOB) value.
- The rebate under the RoDTEP scheme would not be available in respect of duties and taxes already exempted or credited or remitted.
- Rebates on certain export products will also be subject to a value cap per unit of the exported product.
- Rebates will be issued in the form of a transferable duty credit/electronic scrip (e-scrip) which will be maintained in an electronic ledger by the Central Board of Indirect Taxes and Customs (CBIC).
- Certain categories, which would not avail the benefits include:
- export goods that are subject to minimum export price,
- restricted and prohibited items,
- deemed exports,
- supplies of goods manufactured by domestic tariff area units to SEZs, and
- products manufactured or exported by units situated in special economic zones.
Topic 2: Disease X
Why in news: A UK health expert’s warning that a new pathogen could cause a pandemic as deadly as the Spanish Flu, namely, Disease X.
Key details:
- Disease X is on the list of “priority diseases” on the WHO website.
- Priority diseases roll call also includes the Ebola virus disease, Middle East respiratory syndrome (MERS) and Severe Acute Respiratory Syndrome (SARS), Nipah and Zika.
- These are all diseases that have a high fatality rate.
- The list was first published in 2017.
What Is Disease X
- According to the WHO, Disease X represents the knowledge that a serious international epidemic could be caused by a pathogen currently unknown to cause human disease.
- The pathogen could be a virus, a bacterium or a fungus.
- In essence then, it serves as a warning that the next pandemic could be lurking around the corner and it is very difficult to predict what could cause it.
- It also helps direct research and investment towards emerging diseases and is meant to aid in the quick development of vaccines.
