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.
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.
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: