The newly released World Bank report has estimated that the number of extremely poor people globally went up by nearly 71 million in the year 2020 as compared to 2019 — a 11 percent increase. Between 2019 and 2020, the number of poor swelled by around 56 million in India. It means that about 79 percent of the total people globally who slipped into poverty during the first year of...
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What the global minimum tax deal means for India -Jagadish Shettigar and Pooja Misra
-Livemint.com The finance ministers of G-20 countries are scheduled to meet today in Washington to discuss the global minimum tax of 15% for multinational enterprises. Mint looks at the global minimum tax and its implications. * What is the global minimum tax? Last week, the Organization for Economic Co-operation and Development (OECD) finalized a landmark agreement to subject multinational enterprises (MNEs) to a minimum 15% tax from 2023. A total of 136 countries,...
More »School closure: One in three countries not implementing programmes to mitigate learning loss, says report
-PTI/ The New Indian Express At the same time, only one-third of countries are taking steps to measure learning losses in primary and lower second levels, mostly among high-income countries, the survey report stated. NEW DELHI: One in three countries where schools were or are still closed due to the Covid pandemic have not yet implemented remedial programmes to mitigate learning loss, according to a survey. The "Survey on National Education Responses to...
More »OECD-FAO: Global pulses trade to slow as India may boost production by 2030 -G Chandrashekhar
-The Hindu Business Line It observed that world pulses trade grew from 13 ml t to 17 ml t over the past decade The global pulse market that reached a volume of 92 million tons in 2020 - following an annual growth of 3 per cent during the previous decade – is expected to increase by 22 ml t by 2030, says OECD-FAO Agricultural Outlook 2021-2030 released earlier this week. Almost half of...
More »India sees ‘consensus’ by Oct. on OECD-G20 global tax deal
-PTI/ The Hindu Share of profit allocation, subject-to-tax rules’ scope yet to be addressed, says Finance Minister A day after joining the OECD-G20 framework for a global minimum tax, the Finance Ministry on Friday said significant issues including share of profit allocation and scope of subject-to-tax rules were yet to be addressed, and a ‘consensus agreement’ was expected by October. A total of 130 countries on Thursday agreed to an overhaul of global...
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