- Housing Price Index:
A House Price Index (HPI) is a tool that measures changes in single-family home prices across a designated market. These tools can show you areas where home values are increasing or decreasing so you can estimate prices. With proper lender assistance, HPIs can help you decide if it’s a good time to purchase a new home.
- Intellectual Property Rights:
Intellectual property rights are the rights given to persons over the creations of their minds. They usually give the creator an exclusive right over the use of his/her creation for a certain period of time.
There are different subject matters of intellectual property like Patents, Copyright, Trademarks, Industrial design, Plant Varieties etc.
Government of India recently released a new National Intellectual Property Rights (IPR) Policy which is in compliance with WTO’s agreement on TRIPS (Trade-Related Aspects of Intellectual Property Rights).
- Interest Subvention Scheme:
Interest subvention is the subsidy offered on interest rates.
This implies that with the subsidy in hand, the loan borrower has not to pay total interest on loan amount and the balance interest amount is borne by the government.
Thus, interest subvention is a form of waiver of some percentage of interest that promotes some particular industry and general public interest.
Government of India has come up with an array of interest subvention schemes for different sectors spanning from agriculture, education, handlooms, export-oriented sectors to housing sectors.
- Input Tax Credit (ITC):
One of the positive features of GST is that it helps to avoid the undesirable cost cascading effect (or tax on tax) that existed previously. It does this through the ITC.
The meaning of ITC can be easily understood when we take the words ‘input’ and ‘tax credit’. Inputs are materials or services that a manufacturer purchase in order to manufacture his product or services which is his output.
Input tax credit means that when a manufacturer pays the tax on his output, he can deduct the tax he previously paid on the input he purchased. Here, while paying the tax on his output, he can deduct or take credit for the tax he paid while purchasing inputs.
- Logistics Performance Index:
The LPI is an interactive benchmarking tool created to help countries identify the challenges and opportunities they face in their performance on trade logistics and what they can do to improve their performance. The LPI is measured biennially (every two years).
India’s ranking has jumped from 54 in 2014 to 35 in 2016.
Better performance in logistics will not only boost programmes, such as Make in India, by enabling India to become part of the global supply chain, it can also help increase trade.
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