{"id":4286,"date":"2019-08-03T05:49:09","date_gmt":"2019-08-03T05:49:09","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=4286"},"modified":"2019-08-03T05:49:11","modified_gmt":"2019-08-03T05:49:11","slug":"india-to-conduct-1st-national-time-release-study","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/india-to-conduct-1st-national-time-release-study\/","title":{"rendered":"India to conduct 1st National Time Release Study"},"content":{"rendered":"\n<p>The Department of Revenue, Ministry of Finance, as part of its strategic commitment to improve global trade, is conducting <strong>India\u2019s first national Time Release Study (TRS) between 1<sup>st<\/sup> \u2013 7<sup>th<\/sup> August<\/strong>. The exercise will be institutionalized on an annual basis, during the same period every year hereafter. The  <strong>Time Release Study<\/strong> <strong>is an internationally recognized tool advocated by World Customs Organization to measure the efficiency and effectiveness of international trade flows<\/strong>.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.gkseries.com\/blog\/current-affairs-quiz-2019-daily-gk\/\" target=\"_blank\" rel=\"noreferrer noopener\">Daily Current Affairs Quiz 2019<\/a><\/strong><\/p>\n\n\n\n<p>This initiative for accountable governance, will measure\nrule based and procedural bottlenecks (including physical touchpoints) in the\nclearance of goods, from the time of arrival until the physical release of\ncargo. The aim is to identify and address bottlenecks in the trade flow process\nand take the corresponding policy and operational measures required to improve\nthe effectiveness and efficiency of border procedures, without compromising\nefficient trade control. Expected beneficiaries of this initiative will be\nexport oriented industries and MSMEs, who will enjoy greater standardization of\nIndian processes with comparable international standards.<\/p>\n\n\n\n<p>This initiative will help India maintain the upward\ntrajectory on Ease of Doing Business, particularly on the Trading Across\nBorders indicator which measures the efficiency of the cross border trade\necosystem. Last year India\u2019s ranking on the indicator improved from 146 to 80. <\/p>\n\n\n\n<p>Previously individual customs formations had been\nindependently conducting TRS studies at the port level.&nbsp; The national TRS\nhas taken this a step further and evolved a uniform, multi-dimensional\nmethodology which measures the regulatory and logistics aspects of the cargo\nclearance process and establishes the average release time for goods.<\/p>\n\n\n\n<p><strong>The\nexercise will be conducted at the same time across 15 ports including sea, air,\nland and dry ports which cumulatively account for 81% of total Bills of Entries\nfor import and 67% of Shipping Bills for export filed within India<\/strong>.\nThe national TRS will establish baseline performance measurement and have\nstandardized operations and procedures across all ports.<\/p>\n\n\n\n<p>Based on the results of the TRS, government agencies\nassociated with cross border trade will be able to diagnose existing and\npotential bottlenecks which act as barriers to the free flow of trade, and take\nremedial actions for reducing the cargo release time. The initiative is on\nground lead by the Central Board of Indirect Tax and Customs. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Department of Revenue, Ministry of Finance, as part of its strategic commitment to improve global trade, is conducting India\u2019s first national Time Release Study (TRS) between 1st \u2013 7th August. The exercise will be institutionalized on an annual basis, during the same period every year hereafter. The Time Release Study is an internationally recognized [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":4287,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[45],"tags":[327,326],"class_list":["post-4286","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-articles","tag-department-of-revenue","tag-national-time-release-study"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/4286","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=4286"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/4286\/revisions"}],"predecessor-version":[{"id":4288,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/4286\/revisions\/4288"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/4287"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=4286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=4286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=4286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}