World economy: Current Affairs, GK & News - 2020-2021

India finds problems OECD Services Trade Restrictiveness Index

Published: May 17, 2019

India has found problems with the current method under which the OECD index –Services Trade Restrictiveness Index (STRI) – ranks countries based on their services trade policies. As per study commissioned by Indian Ministry of Commerce, the outcomes of index are biased and counter-intuitive. For example, the index seems to show the Indian services sector ..


Income Tax department alters method to tax MNCs and Digital Firms in India

Published: April 22, 2019

The income tax department has changed the method to tax multinational companies and digital firms with permanent establishment in India by taking into account various factors like domestic sales, employee strength, assets and user base. In ‘Profit Attribution to Permanent Establishment in India’s report, the Central Board of Direct Taxes Committee stated that MNCs that ..


David Malpass elected as new President of World Bank

Published: April 6, 2019

David Malpass, a top US Treasury official in Trump administration, was unanimously selected as the new President of the World Bank for a period of five-years. The World Bank President is Chair of Boards of Directors of the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA). The President is also ex ..


The annual meet of World Economic Forum (WEF) started in Davos

Published: January 22, 2019

The annual meet of World Economic Forum (WEF) has started in Davos with theme ‘Globalization 4.0: Shaping a Global Architecture in the Age of the Fourth Industrial Revolution’. The aim of the 5-day event is to discuss what’s ailing the world amid fears of the global economy sleepwalking into a crisis. Those expected to attend ..


Key Outcomes of 13th G-20 Summit

Published: December 10, 2018

The thirteenth G20 summit was held in the city of Buenos Aires, Argentina between 30 November and 1 December 2018. The leaders of the world’s largest economic powers had gathered at the city of Buenos Aires, Argentina has agreed on host of issues. Major developments at the Buenos Aires include: Reforming WTO All the leaders agreed on ..