Wednesday, October 7, 2009

SHORT NOTES

Minimum Alternate Tax is  levied on the book profit of the company. Presently it is 10% in India.
Official development assistance (ODA) is a statistic compiled by the Development Assistance Committee of the Organisation for Economic Co-operation and Development to measure aid. The DAC first compiled the statistic in 1969. It is widely used by academics and journalists as a convenient indicator of international aid flow. It includes some loans.
The International Development Association (IDA) , is the part of the World Bank that helps the world’s poorest countries. It complements the World Bank's other lending arm — the International Bank for Reconstruction and Development (IBRD) — which serves middle-income countries with capital investment and advisory services.
The Organisation for Economic Co-operation and Development (OECD) ) is an international organization of 30 countries that accept the principles of representative democracy and free-market economy. Most OECD members are high-income economies with a high HDI and are regarded as developed countries. The OECD's headquarters are at the Château de la Muette in Paris.
The United Nations Educational, Scientific and Cultural Organization (UNESCO) is a specialized agency of the United Nations established on 16 November 1945. Its stated purpose is to contribute to peace and security by promoting international collaboration through educationscience, and culture in order to further universal respect for justice, the rule of law, and the human rights and fundamental freedoms proclaimed in the UN Charter. It is the heir of the League of Nations' International Commission on Intellectual Cooperation. Headquarter in Paris.
The Housing and Urban Development Corporation Limited (HUDCO) is a government-owned corporation in India. One of the public sector undertakings, it is wholly owned by the Union Government and is under the administrative control of the Ministry of Housing and Urban Poverty Alleviation. It is charged with building affordable housing and carrying out urban development
Capital adequacy ratio (CAR), also called Capital to Risk (Weighted) Assets Ratio (CRAR) is a ratio of a bank's capital to its riskNational regulators track a bank's CAR to ensure that it can absorb a reasonable amount of loss and are complying with their statutory Capital requirements.
Fiscal deficit arises when the Government’s total expenditure surpasses the revenue it generates. In other words, it is the difference between the total receipts (excluding borrowing) and total expenditure. It is expressed as a percentage of GDPIndia’s fiscal deficit is currently estimated at 6 per cent of GDP for 2008-09.
Deficit Financing:Borrowing by a government agency to make up for a revenue shortfall. Deficit financing stimulates the economy for a time but eventually can become a drag on the economy by pushing up interest rates.
The Organization of the Petroleum Exporting Countries (OPEC) is a cartel of twelve countries made up ofAlgeriaAngolaEcuadorIranIraqKuwaitLibyaNigeriaQatarSaudi Arabia, the United Arab Emirates, and Venezuela. OPEC has maintained its headquarters in Vienna since 1965,and hosts regular meetings among the oil ministers of its Member Countries. Indonesiawithdrew its membership in OPEC in 2008 after it became a net importer of oil, but stated it would likely return if it became a net exporter in the world again.
Asia-Pacific Economic Cooperation (APEC) is a forum for 21 Pacific Rim countries (styled 'member economies') to cooperate on regional trade and investment liberalisation and facilitation. APEC's objective is to enhance economic growth and prosperity in the region and to strengthen the Asia-Pacific community. Members account for approximately 40% of the world's population, approximately 54% of worldGDP and about 44% of world trade.Formed in 1989.
Non-tariff barriers to trade (NTB's) are trade barriers that restrict imports but are not in the usual form of a tariff.
In some forms, they are criticized as a means to evade free trade rules such as those of the World Trade Organization (WTO), the European Union (EU), or North American Free Trade Agreement (NAFTA) that restrict the use of tariffs. Some common examples of NTB's are anti-dumping measures and countervailing duties, which, although they are called "non-tariff" barriers, have the effect of tariffs once they are enacted. Their use has risen sharply after the WTO rules led to a very significant reduction in tariff use.Ex- Sanitary and phyto-sanitary conditions,Product standards,Additional trade documents like Certificate of Origin, Certificate of Authenticity etc.
Free trade area is a type of trade bloc, a designated group of countries that have agreed to eliminate tariffsquotas and preferences on most (if not all) goods and services traded between them. It can be considered the second stage of economic integration. Countries choose this kind of economic integration form if their economical structures are complementary. If they are competitive, they will choose customs union.
The balance of trade is the difference between a nation's exports of goods and services and its imports of goods and services, if all financial transfers and investments and the like are ignored. A nation is said to have a trade deficit if it is importing more than it exports.
In economics, the current account is one of the two primary components of the balance of payments, the other being the capital account. It is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid)

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