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Thu 23rd of November 2017

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Nod for Bangladesh JIN pact

     The Union Cabinet has given its approval for the Joint Interpretative Notes (JIN) on the agreement between India and Bangladesh for the promotion and protection of investments between the two countries.

    The JIN includes interpretative notes to be jointly adopted for many clauses, including, the definition of investor and investment, exclusion of taxation measures, Fair and Equitable Treatment (FET), National Treatment (NT) and Most Favoured Nation (MFN) treatment, expropriation, essential security interests and settlement of disputes between an investor and a contracting party.

Significance of the JIN

  • Joint Interpretative Statements play an important supplementary role in strengthening the investment treaty regime.
  • With increasing Bilateral Investment Treaty (BIT) disputes, issuance of such statements was likely to have strong persuasive value before tribunals.
  • Moreover, such pro-active approach by states also can foster more predictable and coherent reading of treaty terms by tribunals.
  • The JIN would impart clarity to the interpretation of the existing agreement between India and Bangladesh for the Promotion and Protection of Investments (BIPA).
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Prelims Question of the Day

With reference to 'Natural Rate of Unemployment', consider the following statements.

1. It is the level of unemployment in an economy that is just consistent with a stable rate of Inflation.

2. It is the unemployment that prevails when all markets in the economy are in equilibrium.

 

(a)1 and 2

(b)2 only

(c)1 only

(d)None of the above

Mains Question of the Day

1.GS-No party in power can afford to ignore Directive Principles of State Policy. Comment.(200 Words)

2.Political Science - Explain the role of non state actors, like IMF, World Bank, European Union and MNCs, in modulating and transforming the broad dynamics of international relations. (250 Words).

3.SOCIOLOGY - What is the impact of Globalization on the structure and mobilization of the working class in India? (250 Words).

Sociology - Thinkers