WFTU:- World Federation of Trade Union The World Federation of Trade Unions(WFTU) was established in the year 1945 to replace the International Federation of Trade Unions. Its mission was planned out to bring together trade unions globally in a single international organization, just like the United Nations. After a variety of Western trade unions left … Read more
WEF:- World Economic Forum The World Economic Forum (WEF), is based in Cologny-Geneva, Switzerland, and was founded in 1971 as a not-for-profit organization. Its motto is committed to improving the state of the world. Founded by Klaus Schwab with official language English. It’s freelance, impartial and not tied to any special interests. WEF strives all … Read more
VSSC:- Vikram Sarabhai Space Centre VSSC is a major space center of India also the backbone of Indian Space Research Organization (ISRO) which focuses on rockets and space vehicles for India’s Satellite programme. This center is located in Thiruvananthapuram in the state capital of Kerala. Beginning with Thumba Equatorial Rocket Launching Station (TERLS) in 1962. … Read more
VRS:- Voluntary Retirement Scheme VRS is a scheme is a method used by companies to reduce surplus staff. This mode has come out in India as labor laws do not permit direct retrenchment of unionized employees. Under this people, those who have put 20 or number of years of service are given an option to … Read more
VRDE:- Vehicle Research and Development Establishment VRDE is a behemoth laboratory of the Defense Research & Development Organization (DRDO) which is headquartered in Vahanagar. Its main function is research and development of various light tracked, wheeled & specialized vehicles for defense applications. VRDE was established in the year 1965 and is currently headed by Maj. … Read more
VPP:- Value Payable Post The Valuable Payable Post system is designed such a way to meet the requirements of persons who wishes to pay for articles sent to them at the time of receipt of the articles or the bills or railway receipts relating to them, and also to meet the requirements of traders and … Read more
VIP:- Very Important Person As the abbreviation suggests it refers to somebody important from any field that may be politics, sport, technology, education, diversion etc. they’re given special privileges and a spotlight than standard or folk thanks to their standing or Importance that they need to be attained. At the side of the person holding … Read more
VCO:- Viceroy Commissioned Officer During the colonial period, a VCO was a senior member of the British Indian Army. As compared to the British Army they were senior in rank to warrant officers of the same and held a commission issued by the viceroy. They were also known as “Indian officers” or “Native officers”, and … Read more
VAT:- Value Added Tax As it is very clear from the name VAT is a form of tax which the consumer has to pay while buying any goods. It is basically a consumption tax placed on a product whenever the value is added at each stage of the supply chain, from production to the point … Read more
VABAL:- Value-Based Advanced License It is basically overvaluation of import items in the application for Advance License. In the terms of rule 2(1) of the Foreign Trade (Regulation) Rules 1993, “value” has the same meaning assigned to it as under section 2(41) of the Customs Act, 1962. Therefore for the purpose of obtaining Value Based … Read more