Subject - Economic and Social Development
Chapter - Economy Updates

1. Consider the following statements.

1. Proposed GARR (General Anti Avoidence Rule) say that for the investors, a tax treaty would not have preferential status over the Indian domestic law.
    
2. The Supreme Court of India on (2011) appointed Special Investigation Team (SIT) comprised Justice Altams Kabir & S.S. Nijjhar.

Which of the above statements is / are true ?

1. Both 1 & 2
2. 1 only
3. 2 only
4. Neither 1 nor 2

2. Consider the following statements about Financial Action Task Force (FATF).

1. FATF is the global body to combat money laundering & terror financing.
    
2. India is not the member of FATF.

Which of the above statements is / are true ?

1. 1 only
2. 2 only
3. Both 1 & 2
4. Neither 1 nor 2

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