1)The government is considering a proposal to free up foreign direct investment (FDI) policy on retail but only for domestically manufactured goods.
A)Overseas-owned online retailers can only function as marketplaces, or platforms for buyers and vendors, and aren't to sell goods on their own account through an inventory model.
B)The policy under consideration applies tom both offline and online retail and would remove restrictions on companies such as Walmart, India, programme, MakprogrammeTesco Amazon and others when it comes to the sale of things produced in the country.
C)" It has been proposed that FDI restrictions in retail be lifted to the extent of goods manufactuIndia," he said. "The matter will be deliberated by the government in the near future ."
D)Apart from attracting investment in retail, such a policy would also give a big bMac programme, a senior official told.
6)Multi-brand retailers such as Walmart can only own up to 51% of Indian ventures and are subject to other constraints as well.
1)The current policy allows domestic manufacturers to sell just their own goods through any channel online or offline.
A)Only in the case of food products can locally processed items be sold by anyone through any mode, a policy change made in August last year to give a boost to food processing.
B)They say confining such stores to food product doesn't make business sense.
C)Retailers have been lobbying for similar exceptions to be made for grocery and personal care items as well.
D)Finance minister Arun Jaitley said in his February 1 budget speech that the government is considering further liberalising the FDI policy.More than 90% of FDI is currently through the automatic approval route.
6)Amazon recently submitted a proposal to the government for setting up bricks and mortar stores to sell locally made food products alongside its online platform in India.
1)The Reserve Bank of India (RBI) has opposed a pact between the Tata group and NTT Docomo aimed at resolving a two-year-old dispute between the two over the enforcement of a $ 17 billion arbitral award by an international court to the Japanese company.
A)Arguing it amounted to transfer of shares and was hence illegal, dealing a setback to the efforts of the two companies to resolve the dispute which has clouded Indo-Japanese ties.
B)Justice S Murlidhar wanted to know if RBI could oppose the award’s enforcement when both parties had agreed to settle and the Tata group was willing to make the payment.
C)During a hearing on Wednesday in the Delhi high court, RBI opposed payment to Docomo that would have followed enforcement of the award,
D)The Indian side has already deposited the amount with the court, which will hear the matter on March 14.
6)“Does the implementation of this award as it reads require a special permission of the RBI”?Justice Muralidhar asked, adding that the ongoing case had international implications.
Direction: select the most appropriate option, out of the five options given, which, in your view, should be grammatically and structurally correct.
a) He said since objections to the enforceability of the award had been withdrawn, it won’t be a precedent “as I have not adjudicated on the correctness of the tribunal’s ruling”.
b)The RBI was also concerned that the Japanese company may pursue enforcement of the award in the US and the UK after six months if it doesn’t succeed in India.
c)A new wave of small Japanese investors is scouting in India for early –stage startups they can beat their money on, undeterred by a bearish spell that threatens to upset Tokyo-based Softbank’s biggest wagers in the country.
d)This fresh run of capital likely signal a return of confidence in India’s startup's ecosystem despite a recent battering of some well-known consumer internet companies, although not without a healthy dose of caution.
e)Unlike SoftBank that invested hundreds of million of dollars in potential blockbusters such as the now struggling Snapdeal, the new investors from Japan are cherry-picking small start-ups with niche technology that can be exported to other Asian markets.
a)Axis bank is withdrawing credit limits it had sanctioned to several merchants at online marketplace Snapdeal.
b)It is among the first few lenders to ringing the bell of alarm over dwindling sales for many retailers on the e-commerce platform, which is struggling to raise fresh capital even as Amazon and Flipkart in one of the World’s fastest growing markets for digital commerce.
c)The bank has sent notices to merchants seeking immediate repayment of outstanding loans while informing them of the withdrawal of unavailed credit.
d)In a big step to pump money into rural India and step up infrastructure creation, the government will release half of the Rs. 48000-crore FY2017-18 allocation for the Mahatma Gandhi National Rural Employment Guarantee scheme of states this April.
e)The high premium that English players commanded in the transfer market represents a serious obstacle to Manchester City’s plans to fill the team with domestic talent.
b) error: “at” use “ in “
c) error:”beat” correct: “ bet”
d) error:”signal” correct: “signals”
e) error:”million” replace by “millions”
a) error:”at” replace it by “on”
b) error:”ringing” correct: “ring”
d) error: “of” replace by “to”
e) error: “commanded” correct-“command”
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