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With reference to G20, consider the following statements:
1. The objective is to promote financial regulations that reduce risks and prevent future financial crises.
2. India has never been a host for a G20 Summit.
3. The G20 has a permanent secretariat to perform activities.
2. India has never been a host for a G20 Summit.
3. The G20 has a permanent secretariat to perform activities.
Which of the statements given above is/are correct?
- a)1 and 2 only
- b)2 only
- c)1 and 3 only
- d)1,2 and 3
Correct answer is option 'A'. Can you explain this answer?
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Verified Answer
With reference to G20, consider the following statements:1. The object...
Statement 1 is correct: The objectives of the G20 are: • Policy coordination between its members in order to achieve global economic stability, sustainable growth;
- To promote financial regulations that reduce risks and prevent future financial crises; and
- To create a new international financial architecture
Statement 2 is correct: India has never hosted a G20 Summit. India will host the G20 summit in 2023 — a year later than what was decided earlier. The next G20 meetings are: Italy in 2021, Indonesia in 2022, India in 2023 and Brazil in 2024. The first Summit was held in Washington in November 2008 and the last - held digitally under the Saudi Presidency - in November 2020.
Statement 3 is not correct: The G20 does not have a permanent secretariat: its agenda and activities are established by the rotating Presidencies, in cooperation with the membership. A “Troika”, represented by the country that holds the Presidency, its predecessor and its successor, works to ensure continuity within the G20. The Troika countries are currently Saudi Arabia, Italy and Indonesia.
Statement 3 is not correct: The G20 does not have a permanent secretariat: its agenda and activities are established by the rotating Presidencies, in cooperation with the membership. A “Troika”, represented by the country that holds the Presidency, its predecessor and its successor, works to ensure continuity within the G20. The Troika countries are currently Saudi Arabia, Italy and Indonesia.
Most Upvoted Answer
With reference to G20, consider the following statements:1. The object...
Statement 1: The objective is to promote financial regulations that reduce risks and prevent future financial crises.
This statement is correct. The main objective of the G20 is to promote financial stability and sustainable economic growth. One of the ways it aims to achieve this is by implementing financial regulations that reduce risks and prevent future financial crises. The G20 countries work together to develop and implement policies that enhance the resilience of the global financial system and foster economic stability.
Statement 2: India has never been a host for a G20 Summit.
This statement is correct. India has never hosted a G20 Summit. The G20 Summits are held annually, and each year, one of the member countries hosts the summit. Since the establishment of the G20 in 1999, India has not yet had the opportunity to host the summit. However, India has actively participated in G20 meetings and has been an important member of the group.
Statement 3: The G20 has a permanent secretariat to perform activities.
This statement is incorrect. The G20 does not have a permanent secretariat. The G20 operates in a decentralized manner, and the hosting country takes on the responsibility of organizing and coordinating the summit. The host country sets the agenda, invites participants, and manages the logistics of the summit. However, the G20 does have a troika system, which includes the current, previous, and upcoming hosts. These three countries work together to ensure continuity and coordination in the G20's work.
In conclusion, statement 1 is correct as the objective of the G20 is to promote financial regulations that reduce risks and prevent future financial crises. Statement 2 is also correct as India has never hosted a G20 Summit. However, statement 3 is incorrect as the G20 does not have a permanent secretariat.
This statement is correct. The main objective of the G20 is to promote financial stability and sustainable economic growth. One of the ways it aims to achieve this is by implementing financial regulations that reduce risks and prevent future financial crises. The G20 countries work together to develop and implement policies that enhance the resilience of the global financial system and foster economic stability.
Statement 2: India has never been a host for a G20 Summit.
This statement is correct. India has never hosted a G20 Summit. The G20 Summits are held annually, and each year, one of the member countries hosts the summit. Since the establishment of the G20 in 1999, India has not yet had the opportunity to host the summit. However, India has actively participated in G20 meetings and has been an important member of the group.
Statement 3: The G20 has a permanent secretariat to perform activities.
This statement is incorrect. The G20 does not have a permanent secretariat. The G20 operates in a decentralized manner, and the hosting country takes on the responsibility of organizing and coordinating the summit. The host country sets the agenda, invites participants, and manages the logistics of the summit. However, the G20 does have a troika system, which includes the current, previous, and upcoming hosts. These three countries work together to ensure continuity and coordination in the G20's work.
In conclusion, statement 1 is correct as the objective of the G20 is to promote financial regulations that reduce risks and prevent future financial crises. Statement 2 is also correct as India has never hosted a G20 Summit. However, statement 3 is incorrect as the G20 does not have a permanent secretariat.
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With reference to G20, consider the following statements:1. The objective is to promote financial regulations that reduce risks and prevent future financial crises.2. India has never been a host for a G20 Summit.3. The G20 has a permanent secretariat to perform activities.Which of the statements given above is/are correct?a)1 and 2 onlyb)2 onlyc)1 and 3 onlyd)1,2 and 3Correct answer is option 'A'. Can you explain this answer?
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