International institution Flashcards
- World Bank classifies the world’s economies based on -estimates of based on -
- what is more gdp or gnp of india
- what is totalization pact
- FDI inflows in India from top four countries in 2019-20
1. gross national income (GNI) per capita nominal exchange rate 2. gdp 3.hese are bilateral agreements entered between countries to avoid double taxation of income with respect to social security taxes 4. Singapore $12.6 billion (1) Mauritius $7.5 billion (2) Netherland $5.3 billion (3) Cayman Islands $3.5 billion (4)
what is duty credit scrip
Duty credit scrip is an important export promotion incentive (under Foreign Trade Policy
2015-20) provided by the government to exporters in which government gives tax
incentives to the exporters. The government gives a receipt/paper to the exporter worth
some percentage (2% to 5%) of the export value. This paper the exporter can use to
adjust against tax payment for example import duty on raw materials used for exports
or other taxes on manufacturing processes
what is nirvik scheme
To
avail the insurance cover from ECGC, the exporters pay nominal premium to ECGC.
Earlier the ECGC used to give a cover of 60% of the loss to banks. But under the new scheme “NIRVIK”, 90% coverage of the “principal and interest of the loan” for pre and
post shipment credit will be given
- logistics performance index-
- HCI
- World migration report
- annual observance report
- social mobility index
- corruption perception index
- index of eco freedom
- global eco freedom index
- global talent compitiveness index
- world competitiveness ranking
- global competitveness index
- int. debt statistics
- WB
- WB
- UN
- IMF
- WEF
- transparency int.
- heritage foundation
- fraser inst
- INSEAD
- IMD
- WEF
- WB
Multilateral Convention to Implement Tax Treaty Related Measures (MLI)
Multilateral Convention to Implement Tax Treaty Related Measures (MLI)
On 25th June, 2019, India has deposited the instrument of ratification to OECD, Paris
along with its final position in terms of Covered Tax Agreements (CTAs), reservations,
options and notifications under the MLI, as a result of which MLI entered into force for
India on October 1, 2019 and its provisions will have effect on India’s DTAAs from FY20-
21 onwards. It will prevent Base Erosion and Profit Shifting (BEPS), which will pave way
for amendments to double taxation avoidance agreements (DTAA) with the countries
signatories to the convention to plug revenue leakages.
1.The Chiang Mai Initiative (CMI), sometimes in the news, is primarily related to
A. Regional economic cooperation
B. Currency swap arrangement
C. Civil nuclear cooperation
D. Reforms in Asian Infrastructure Investment Bank
1.The Chiang Mai Initiative (CMI), a mechanism for foreign currency exchange in times of emergency created under ASEAN+3 (ASEAN, Japan, China and
South Korea), had previously been regarded as a pool of foreign exchange reserves accessible by the countries concerned as a U.S. dollar loan. At this
meeting, however, it was decided to permit local currency swaps
- Which of the following correctly describes the Bilateral Investment Treaty (BIT)?
- It is an agreement that has been established for the promotion of rule-based Foreign Direct Investment.
- The treaty is the successor of the 19th-century friendship, commerce and navigation treaty.
- The first of its kind was signed between Pakistan and Germany.
- It treats foreign countries equally as domestic investors
1.A bilateral investment treaty (BIT) establishes the terms and conditions for private investment by nationals and companies of one state in another state.
This type of investment is called foreign direct investment (FDI). BITs are established through trade pacts. A nineteenth-century forerunner of the BIT is
the friendship, commerce, and navigation treaty (FCN). So, statements 1 and 2 are correct.
Most BITs grant investments made by an investor of one Contracting State in the territory of the other a number of guarantees, which typically include
fair and equitable treatment, protection from expropriation, free transfer of means and full protection and security. The distinctive feature of many BITs
is that they allow for an alternative dispute resolution mechanism, whereby an investor whose rights under the BIT have been violated could have
recourse to international arbitration, often under the auspices of the ICSID (International Center for the Settlement of Investment Disputes), rather than
suing the host State in its own courts. This process is called investor-state dispute settlement
- Consider the following statements with respect to the Trade Policy Review Mechanism (TPRM) of the World Trade Organisation:
- Under the TPRM, the trade policies of all WTO members are reviewed every five years.
- The TPRM covers trade in goods and services as well as intellectual property rights.
1.India’s official delegation for the TPR was headed by the Commerce Secretary.
The Trade Policy Review is an important mechanism under the WTO’s monitoring function and involves a comprehensive peer-review of the member’s national trade policies.
All WTO Members are subject to review under the TPRM. The Annex mandates that the four members with the largest shares of world trade (currently the European Union, the United States, Japan, and China) be reviewed every two years, the next 16 be reviewed every four years and others be reviewed every six years (India is in this category).
- who publish india inequality index
2. commitment to reduce inequality index
- oxfam
2. oxfam, development financial international
Consider the following statements regarding the dispute settlement at the WTO:
- The Dispute Settlement Body consisting of all WTO members has the responsibility of settling disputes among the member countries.
- The WTO Appellate Body requires at least three members to function.
- Once adopted by the WTO’s disputes settlement body, the reports are not binding on the parties.
Settling disputes is the responsibility of the Dispute Settlement Body (the General Council in another guise), which consists of all WTO members. The
Dispute Settlement Body has the sole authority to establish “panels” of experts to consider the case and accept or reject the panel’s findings or the
appeal results. It monitors the implementation of the rulings and recommendations and can authorize retaliation when a country does not comply with
a ruling. So, statement 1 is correct.
The Appellate Body, set up in 1995, is the standing committee that presides over appeals against judgments passed in trade-related disputes brought by
WTO members. This dispute settlement mechanism of WTO requires at least three members to function.
The WTO’s dispute settlement procedure is seen as being vital to ensuring smooth international trade flows. The Appellate Body has so far issued 152
reports. Once adopted by the WTO’s disputes settlement body, the reports are final and binding on the parties
Project Seabird, recently in the news, is
A. The largest naval infrastructure project for India
B. The research programme for the Covid-19 virus variants
C. The radar development system of India
Project Seabird, the largest naval infrastructure project for India, involves the creation of a naval base at Karwar (Karnataka) on the west coast of India
