National Trade Facilitation Action Plan

Jaitley releases National Trade Facilitation Action Plan

Question: The National Trade Facilitation Action Plan (NTFAP) was released by …
(a) Ministry of Consumer Affairs
(b) Ministry of Finance
(c) Ministry of Commerce and Industry
(d) Ministry of Company Affairs
Ans: (b)
Related facts:-

  • On July 20, 2017, Finance Minister Arun Jaitley released the National Trade Facilitation Action Plan in New Delhi.
  • The National Action Plan aims to transform cross border clearance ecosystem through efficient, transparent, risk based, co-ordinated, digital, seamless and technology driven procedures which are supported by state-of-the-art sea ports, airports and land borders.
  • The objectives to be achieved by National Action Plan are improvement in ease of doing business by reduction in cargo release time and cost, move towards paperless regulatory environment, transparent and predictable legal regime and improved investment climate through better infrastructure.
  • The Action Plan covers many activities in the areas of infrastructure augmentation, particularly the road and rail infrastructures leading to ports and the infrastructure within ports, airports, ICDs, Land Customs stations that cuts across all stakeholders for which various ministries like Shipping, Civil Aviation, Railways, Road transport and Highways, Home Affairs, Finance, Commerce etc have been assigned specified targets.
  • This Action Plan gives a time bound map, not only for implementing TFA, but also for India’s initiatives for trade facilitation and Ease of Doing Business which goes beyond TFA.

Related Links:-
http://pib.nic.in/newsite/PrintRelease.aspx?relid=168777
http://pib.nic.in/newsite/PrintRelease.aspx?relid=168849
http://www.businesstoday.in/current/economy-politics/jaitley-releases-national-trade-facilitation-action-plan-today/story/256834.htm