Global Minimum Corporate Tax (GMCT)
- Objective: To ensure Multinational Enterprises (MNEs) pay a minimum tax rate globally, irrespective of their operating location.
- Minimum Rate: 15%.
- Framework Name: Pillar Two initiative (spearheaded by the OECD).
- Target Threshold: Applies to MNEs with global revenues exceeding 750 million euros.
- Rationale: Designed to limit "race to the bottom" tax competition between countries.
Blue Flag Certification
- Definition: A voluntary eco-label award given to sustainable boating tourism operators, marinas, and beaches.
- Governing Organization: Foundation for Environmental Education (FEE), headquartered in Denmark.
- Criteria: Certification requires meeting 33 stringent standards across four main categories:
- Environmental Education and Information
- Water Quality
- Environmental Management
- Safety and Services
- Indian Implementation:
- Coordinating Ministry: Ministry of Environment, Forest, and Climate Change (MoEFCC).
- Implementing Body: Society of Integrated Coastal Management (SICOM).
- Current Status (Statistical Detail): India currently has 12 Blue Flag certified beaches.