- INDIA JOINS OECD/G20 INCLUSIVE FRAMEWORK TAX DEAL
- GENDER SAMVAAD
INDIA JOINS OECD/G20 INCLUSIVE FRAMEWORK TAX DEAL
Focus: GS II- International Relation
Why in News ?
Majority of the members OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (including India) adopted a high-level statement containing an outline of a consensus solution to address the tax challenges arising from the digitalisation of the economy.
The proposed solution consists of two components
- Pillar one: About reallocation of additional share of profit to the market jurisdictions.
- Pillar two: Consisting of minimum tax and subject to tax rules.
- The principles underlying the solution vindicates India’s stand for a greater share of profits for the markets, consideration of demand side factors in profit allocation, the need to seriously address the issue of cross border profit shifting and need for subject to tax rule to stop treaty shopping.
- India is in favour of a consensus solution which is simple to implement and simple to comply.
- At the same time, the solution should result in allocation of meaningful and sustainable revenue to market jurisdictions, particularly for developing and emerging economies.
- India will continue to be constructively engaged for reaching a consensus based ready to implement solution with Pillar one and Pillar two as a package by October and contribute positively for the advancement of the international tax agenda.
- The G20 is an informal group of 19 countries and the European Union, with representatives of the International Monetary Fund and the World Bank.
- The G20 membership comprises a mix of the world’s largest advanced and emerging economies, representing about two-thirds of the world’s population, 85% of global gross domestic product, 80% of global investment and over 75% of global trade.
- The members of the G20 are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States, and the European Union.
Focus: GS II- Government policies and intervention, Prelims
Why in news?
The Second Gender Samvaad was organised by the Ministry of Rural Development’s Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM) and the Initiative for What Works to Advance Women and Girls in the Economy (IWWAGE) at LEAD.
- This edition of the Gender Samvaad, held virtually, focused on the best practices of various states and from women’s collectives under DAY-NRLM in responding to the COVID-19 crisis, particularly the second wave that has disrupted the lives and livelihoods of many people.
About Gender Samvad:
- It is a joint attempt between DAY-NRLM and the Initiative for What Works to Advance Women and Girls in the Economy (IWWAGE) to create a common platform to share experiences emerging from this effort, was organised today by the Ministry of Rural Development, Govt. of India.
- The attempt is to generate greater awareness on gender related interventions under DAY-NRLM across the country and best practices, with a focus on hearing voices from the states and the field.
Gender Samvaad provides states with opportunities to:
- Understand best practices/initiatives that other states have been undertaking to improve women’s agency (e.g. facilitating women’s access to land rights, their engagement in farmer producer organizations (FPOs), best practices around Food, Nutrition, Health and Water and Sanitation (FNHW), in establishing strong institutions for public service delivery, and in protecting and providing redress to vulnerable groups within women (e.g. to victims of witch hunting));
- Understand gender interventions globally;
- Engage with experts and other colleagues on suggestions regarding how to handle issues/implementation barriers;
- Contribute to creation of a ‘gender repository’ with resource materials on best practices for gender interventions across the country/other countries; and
- Build advocacy around the need to focus on gender issues across SRLMs and the NRLM.