G 20 Current Affairs - 2020

Extraordinary G20 Trade and Investment Ministerial Meet

On March 31, 2020, the “Extraordinary G20 Trade and Investment Ministerial Virtual Meet” was held through video conferencing. The Union Commerce Minister Piyush Goyal represented India at the meet.

Highlights

India had called for easy movement of health professionals and enhanced access to affordable medicines across national borders. Amidst the threat of COVID-19, India is supplying affordable medical products to nearly 190 countries in the world.

India urged the G20 countries to come up with G-20 Global Framework to improve access to medicines. The framework should include diagnostic equipment, critical medicines, health professionals and medical kits.

G-20

A week back a G20 video conference was hosted by Saudi Arabia. As a member of the grouping, India was represented by PM Modi. During the meet, the leaders pledged to infuse 5 trillion USD into the global economy. The idea was to reduce the impact of the global recession in the world due to the increasing threats of COVID-19.

Budget 2020: Governance

In order to achieve minimum government and maximum governance, the Budget 2020-21 has allocated funds for the following

Tax Payer Charter introduced

The Budget allocated funds to institutionalize a Tax Payer Charter. This is to ensure fairness and avoid harassments in the quest of collecting taxes from the citizens. Only three countries in the world so far have enshrined the rights of taxpayers namely Canada, Australia and US Through tax payer charter, India joins the list.

National Recruitment Agency to be established

The Companies Act, 2013 is to be amended. Major reforms in the recruitment processes of non-Gazetted posts in Government administration and public sector banks are to be introduced. As this process involves immense effort, cost and time, a National Recruitment Agency is to be established. The Agency will conduct multiple examinations and also computer based Online Common Eligibility Test. A Test Centre at every Aspirational District is to be set up.

Also, a robust mechanism will be introduced to absorb best talents and professionals for speedy disposal of commercial and other disputes.

National Policy on Official Statistics to be introduced

The GoI has witnessed the need for the Indian Statistical System to meet the challenges of the increasing complexity of the economy. In order to achieve this, National Policy on Official Statistics will be introduced. The policy will lay down a road map towards data collection, timely dissemination of information and integrated information portal.

G 20 presidency of India – FUND ALLOCATION

India is to preside over the G 20 meeting in the year 2022 (the year India is celebrating its 75th anniversary). To kick start the preparations, by 2021, the Budget has allocated 100 crores.

North East and J&K-FUND ALLOCATION

Government has been ensuring smooth access to financial assistance to the North East Region. Also, the GoI has been supporting the all-round development of newly formed Union Territories Ladakh and J&K.

In order to strengthen these measures, The Budget 2020-21 has allocated 30,757 crores. For the Union Territory of Ladakh, the Budget allocated 5,958 crores.