Supporting the Finance Ministry's view that tax exemptions to the developers and units in SEZs are a drain on economy, the Organisation of Economic Cooperation and Development has asked the government to review tax exemptions in these areas.
The OECD, in March, projected 4.3 per cent economic expansion for India in 2009. The report further said the extent of the deterioration in the fiscal position prior to the slowdown has reduced the scope for 'discretionary fiscal policy action'.
The report was jointly prepared by the Paris-based Organisation for Economic Cooperation and Development and the World Trade Organisation.
In its set of recommendations, the China Committee said that economic sanctions against China in case of an attack on Taiwan will be most effective if key allies such as G7, NATO, NATO+5, and Quad members join, and negotiating a joint response and broadcasting this message publicly have the added benefit of enhancing deterrence.
Under pressure from India and other countries for sharing account details of suspected tax offenders, Swiss banks have said any information exchange would be according to the conditions set out by the Organisation for Economic Cooperation and Development (OECD), the grouping of mostly developed nations.
The US hails the landmark 'India-Middle East-Europe Economic Corridor' which will usher in a new era of connectivity from Europe to Asia and will stimulate economic growth across the two continents.
This activity will allow us to identify those jurisdictions where either the legal framework is not good enough or practices are not good enough and, therefore, information is not flowing.
The global agricultural production growth is expected to be low at 1.7 per cent annually during 2011-20 as compared to 2.6 per cent in the previous decade, due to lower growth in oilseeds and cereals, an agri survey said.
Dismissing fears of a slowdown, Finance Minister Pranab Mukherjee on Monday said India's growth drivers are intact and the Centre is committed to policy reforms.
Cautioning that risks remain in the 16-nation euro area, Paris-based OECD has called for more financial reforms in many member countries to ensure sustainable growth.
However, the economy expanded by 7.9 per cent in the second quarter from 6.1 per cent in the previous quarter, giving hopes of durable economic rebound.
It says that growth outlook for most countries is improving lead by US and UK.
More than 44 million people were without a job in March in the OECD region - a grouping of countries which account for over 60 per cent of global output.
The unemployment rate in the OECD region a grouping of 27 developed and developing nations stood at 8.8 per cent in November 2009, amid the global labour market slowly witnessing signs of stabilisation.
The global economy is projected to expand by 4.2 per cent this year, but rising oil and commodity prices and European debt crisis could hurt the overall recovery, according to Paris-based think-tank OECD.
The political mood seems to have changed in most Organisation for Economic Cooperation and Development capitals, and it would be very difficult for any government to justify new stimulus measures in today's environment. Public pressure to reduce government budget deficits and minimise public debt burdens is growing across the developed world.
At the invitation of Prime Minister Narendra Modi, President Xi Jinping and PM Shehbaz Sharif will attend via video conference, the 23rd meeting of the Council of Heads meeting of the SCO on July 4.
Chief Economic Adviser V Anantha Nageswaran on Thursday said cryptocurrencies are akin to 'a world of Caribbean pirates' in the absence of a centralised regulatory authority and are yet to pass the test of a fiat currency. He said that the government is pursuing a 'high-wire balancing act' to ensure that the gains in growth, inflation, and rupee stability of the last four years are not frittered away. He said the recent development in Terra-Luna cryptocurrency, which witnessed a massive meltdown last month, is a 'very important cautionary tale'.
The biggest challenge for workers across the world is to find a perfect balance between work and life.
The Organisation for Economic Cooperation and Development has projected the Indian economy to expand 8.5 per cent in 2011-12, much lower than the growth of 9.6 per cent witnessed in 2010-11 financial year.
According to Organisation for Economic Cooperation and Development's report on gender and employment, there is a worldwide increase in women's participation in the labour force but considerable gaps remain in working hours, conditions of employment and earnings.
Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates have been invited to join the grouping.
Brazil, Russia, India and China, also known as the BRIC group of countries, are expected to overtake the rich countries in primary energy consumption by 2030 and worsen their environmental calamities, Paris-based Organisation for Economic Cooperation and Development has warned. The OECD estimates suggest that 63 per cent population in the BRIC countries is living under medium to severe water stress and this share is expected to increase to 80 per cent by 2030.
Pakistan Defence Minister Khawaja Asif will attend the SCO defence ministers' meeting in New Delhi on Friday through virtual mode, according to an official readout.
Heavy lobbying, lurid language and poor analysis are inhibiting government planning for cyber protection, according to the new report on Systemic Cyber Security published by the Organisation for Economic Cooperation and Development.
It feels worsening economic downturn will dent the internet economy. The only silver lining for the IT sector, which generates about $50 billion for Indian IT services companies, is the likely growth in the services and software sectors 'along with new internet and communications-related products and infrastructure, as they are an essential part of spending and partly recession-proof,' the OECD report said.
The unemployment rate in the OECD region, comprising mostly developed nations, slipped to 8.6 per cent in May, while the count of jobless people in the area stood at 45.9 million during the same month.
Prime Minister Modi will be arriving in Cairo on Saturday evening at the invitation of President Abdel Fattah El-Sisi. It will be the first bilateral visit by an Indian prime minister since 1997.
Trade ministers of key WTO member countries, including India would meet on the sidelines of the Organisation for Economic Cooperation and Development meeting in Paris in the last week of May.
The initiative for the consultations among the select ministers was taken by Australian Trade Minister Simon Crean.
India has signed a pact with the British Virgin Islands to check tax evasion and money laundering.
The negotiations are expected to take place in the wake of the issue of black money stashed away in Swiss banks.
Counter-terrorism experts from India, Pakistan and other member states of the Shanghai Cooperation Organisation on Monday deliberated on boosting cooperation in combating various regional security challenges at a meeting hosted by New Delhi.
Chinese and Russian warplanes on Tuesday conducted joint air patrols over the Sea of Japan, the East China Sea and the West Pacific Ocean as the leaders of Quad held their in-person summit in Tokyo, in an apparent attempt to send a message of unity between Beijing and Moscow.
"The unemployment rate for the OECD area was 8.6 per cent in September 2009, the same as the previous month and 2.3 percentage points higher than a year earlier."
Although the credit for acquiring the technological skill must be given to India's outstanding nuclear scientists, the decision to go nuclear was a political one that entailed clarity of vision, courage and resolve, points out Rup Narayan Das.
India says it cannot accept a project that ignores its core concerns on sovereignty and territorial integrity.
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