Daily Current Affairs – 2020

Topic: For Prelims and Mains

CENTRAL REVENUES CONTROL LABORATORY (CRCL)

Why in News?

Central Revenues Control Laboratory (CRCL), New Delhi was recognized as a Regional Customs Laboratory (RCL) of the World Customs Organisation (WCO) for Asia-Pacific Region.

About:

• Central Revenues Control Laboratory (CRCL), New Delhi is under the administrative control of Central Board of Indirect Taxes & Customs.
• Established in 1939, CRCL is the headquarters of 14 Revenue Laboratories, including 2 laboratories working at Government Opium & Alkaloid Works, Ghazipur & Neemuch.
• With its recognition as RCL, CRCL joins a select group of Customs Laboratories in the region like those in Japan & Korea.

About WCO :

• The World Customs Organization (WCO), established in 1952 as the Customs Co-operation Council (CCC) is an independent intergovernmental body whose mission is to enhance the effectiveness and efficiency of Customs administrations.
• It is headquartered in Brussels, Belgium.

Facts  For Prelims:

PMI or a Purchasing Managers’ Index (PMI):

PMI is an indicator of business activity — both in the manufacturing and services sectors.

• It is a survey-based measures that asks the respondents about changes in their perception of some key business variables from the month before.
• It is calculated separately for the manufacturing and services sectors and then a composite index is constructed.
• A figure above 50 denotes expansion in business activity. Anything below 50 denotes contraction.
• Higher the difference from this mid-point greater the expansion or contraction.