Why in News ?
The Central Board of Indirect Taxes and Customs (CBIC) has released the National Time Release Study (NTRS) 2024, which assesses the efficiency of cargo clearance processes at Indian ports and customs formations. This report is significant as it highlights the progress made towards the targets set under the National Trade Facilitation Action Plan (NTFAP) and evaluates the impact of initiatives implemented to facilitate trade.
Key Findings :
- Reduction in Average Release Time: 9 out of 15 ports covered in the study have witnessed a reduction in average release time in 2024 compared to the previous year.
- Improvement in Release Time for ICPs and ACCs: A significant 50% reduction in release time for Integrated Check Posts (ICPs) and 6% reduction for Air Cargo Complexes (ACCs) in 2024 compared to 2023.
- CBIC Pre-payment Customs Compliance Verification (PCCV) Initiative: Final clearance is granted within 3 minutes of duty payment, showcasing the efficiency of automated processes.
- Export Clearance: Average release time for exports has reduced for ICDs and ACCs in 2024 compared to 2023.
Objective :
The NTRS 2024 aims to provide a comprehensive quantitative national-level assessment of the cargo clearance process, comparing it to previous years’ performance and measuring progress towards NTFAP targets.