News Update

G20 finance leaders agree to tax super-rich but forum not yet readyIndia, US ink pact to stymie illegal trafficking of cultural propertyFroth in Yamuna river: Delhi complains to Centre against UP and HaryanaFormer BJP Minister says BJP has totally failed as Opposition in KarnatakaEU penalises 5 countries for infringing budget rulesChina says Relations with Japan at critical stageEU medicines regulator disapproves Alzheimer’s new drugSC says no restrictions on voluntary name banners along Kanwar route eateriesNew Capital gains regime: CBDT issues FAQsFM favours debt reduction but sans affecting economic growthMisc - Royalty not a tax; royalty is contractual consideration paid by mining lessee to lessor for enjoyment of mineral rights & liability to pay royalty arises out of contractual conditions of mining lease: SC CBDGFT simplifies EPCG Scheme procedures to enhance Ease of Doing BusinessKargil Victory Day: PM warns Pak against practising terrorismPM GatiShakti Group evaluates five key infrastructure projectsMisc - Since power to tax mineral rights is provided for in Entry 50 of List II, Parliament cannot use its residuary powers in this subject matter: SC CBLadakh's Budget has increased from Rs 1100 Cr to Rs 6000 Cr in last 5 yrsChina pumps in subsidies worth USD 41 bn into car sectorCus - Owner of goods has a liability to pay customs duty even after confiscated goods are redeemed on payment of fine - Interest follows: SCIndia's installed Nuclear Power Capacity to triple by 2031-32: MoS
 
G20 Financial Architecture Working Group meeting in Goa to give voice to Global South

By TIOL News Service

MUMBAI, JUNE 05, 2023: THE Third G20 International Financial Architecture Working Group (IFAWG) meeting under the Indian G20 Presidency is being organized during 6-7 June 2023 in the vibrant state of Goa.

The discussions during the two-day meeting will be jointly steered by the Ministry of Finance and the Reserve Bank of India along with France and the Republic of Korea, who are the Co-chairs of the IFA WG.   Approximately 100 delegates from G20 Members, Invitee Countries, and various International Organizations will be arriving in Goa to participate in the two-day meeting. The meeting is organized into various thematic sessions covering key priority areas of the Indian G20 Presidency. These include strengthening the Global Financial Safety Net (GFSN), addressing global debt vulnerabilities, strengthening the Multilateral Development Banks (MDBs) to address shared global challenges of the 21st century, and strengthening financial resilience through sustainable capital flows, assessing the macro-financial implications of Central Bank Digital Currencies, among others. During these discussions, the Indian G20 Presidency strives to give a voice to low-income and developing countries that are not represented at the G20 table and highlight issues of key concern to the Global South.

On the first day of the meeting, on 6 June 2023, a High-level seminar on "Towards Orderly Green Transition - Investment Requirements and Managing Risks to Capital Flows" will be held to facilitate an in-depth discussion on Green Capital Flows and Emerging Markets (EMs). Experts from various International Organizations and Institutions will participate in this seminar. In the run-up to this meeting, a number of 'Jan-Bhagidari' events are being held across Goa. These include Financial Literacy Camps and awareness campaigns, Coin Mela, Walkathon, Swacchta Abhiyaan, and a Quiz Competition. These events are aimed at creating awareness about the G20 Indian Presidency and its theme "Vasudhaiva Kutumbakam" or "One Earth - One Family - One Future". The discussions in this meeting will further inform the Third G20 Finance Ministers and Central Bank Governors Meeting (FMCBG) meeting scheduled for 17-18 July 2023 in Gandhinagar, Gujarat.


POST YOUR COMMENTS
   

TIOL Tube Latest

Dr. Shailendra Kumar, Chairman, TIOL Knowledge Foundation, addressing the gathering



Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.