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Question

As per the latest trade agreement in Bali Ministerial Conference of WTO, India and other developing and under developed countries can launch food security programmes :

The correct answer is
till an alternative mechanism is developed

WTO Bali Agreement & Food Security Programs

The question concerns the specific provisions related to food security programs for developing countries, including India, as agreed upon during the WTO's Bali Ministerial Conference.

Key Provisions Explained

The Bali Ministerial Conference addressed concerns about food security programs, particularly public stockholding for food security purposes. Developing countries, worried about potential violations of existing WTO rules regarding trade-distorting subsidies, sought assurances.

The agreement reached in Bali established a temporary solution. It allows these countries to continue or launch food security programs, such as food grain stockpiling for distribution to the poor.

Crucially, the continuation of these programs is not indefinite. They are permitted only until a more permanent solution or an 'alternative mechanism' that complies with WTO regulations is formally agreed upon and implemented.

Therefore, the food security programmes can be launched or continued till an alternative mechanism is developed, ensuring compliance with global trade rules while addressing domestic food security needs.

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Important Questions from International Economic Organisations & India

  1. As per IMF's ‘World Economic Outlook' – April 2025, India's nominal GDP in 2025 will be US $____________ trillion.
  2. The 13th World Trade Organisation's Ministerial Conference (MC-13) was held in ____________.
  3. Which of the following countries had greater share than India in the global services export in 2023?
  4. The Global Financial Stability Report is released by which among the following?
    1. International Monetary Fund
    2. World Economic Forum
    3. World Bank
    Select the correct answer from the code given below:
  5. The basic foundation of global economic governance in the post second World War was laid by various institutional frameworks. Which of the following combinations is correct? 

    a) IMF, World Bank, GATT 

    b) IMF, World Bank, Asian Development Bank 

    c) World Bank, GATT, BRICS

    d) Asian Development Bank, IMF, IBRD 

    Options:

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