Fast-moving consumer goods (FMCG)

• Fast-moving consumer goods (FMCG) or consumer packaged goods (CPG) are products that are sold quickly and at relatively low cost.
• Examples include non-durable goods such as packaged foods, beverages, toiletries, over-the-counter drugs and many other consumables.
• Merchandising of FMCG products is the process of effective arranging of product at the selling point.
• FMCG is the 4th largest sector in the Indian economy.

Securities Transaction Tax (STT)

• Securities Transaction Tax (STT) is a tax payable in India on the value of securities (excluding commodities and currency) transacted through a recognized stock exchange.
•  As of 2016, it is 0.1% for delivery based equity trading.
•  The tax is not applicable on off-market transactions or on commodity or currency transactions.

Arenas of STT:

According to the Securities Contracts (Regulation) Act, 1956, STT would be applicable on following securities:

• Shares, bonds, debentures, debenture stock or other marketable securities of a like nature in or of any incorporated company or other body corporate
• Derivatives
• Units or any other instrument issued by any collective investment scheme to the investors in such schemes
• Security receipt as defined in section 2(zg) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
• Government securities of equity nature
• Rights or interest in securities
• Equity-oriented mutual funds

Prime Minister’s Science, Technology and Innovation Advisory Council (PM-STIAC)

• The government has scrapped two Scientific Advisory Committees (SAC) for the Prime Minister and the Cabinet, and replaced them with a nine member, Prime Minister’s Science, Technology and Innovation Advisory Council (PM-STIAC).
• The PM-STIAC will be chaired by the government’s Principal Scientific Advisor, Dr K. Vijay Raghavan.
• The newly constituted body is expected to act as a high level advisory body to several ministries and execute mission-oriented programmes.
• This is set up so that members are allowed free discussions outside the comfort zone of officials.
• There was a separate, dedicated group—involving the Cabinet Secretary and the PSA to focus on driving innovation all the way to commercialization.
• The office of the PSA was earlier led by R. Chidambaram, who played a key role in shaping India’s nuclear programme.