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    Question

    Which of the following statements are not correct

    regarding G20?
    A The G20 was formed in 1999 in the backdrop of the financial crisis of the late 1990s. Correct Answer Incorrect Answer
    B Its aim was to secure global financial stability by involving middle-income countries. Correct Answer Incorrect Answer
    C India will hold the G20 Presidency from 1 December 2022 to 30 November 2023. Correct Answer Incorrect Answer
    D India is recently made the permanent Troika country of the grouping. Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    The G20 was formed in 1999 in the backdrop of the financial crisis of the late 1990s that hit East Asia and Southeast Asia in particular. Hence statement (a) is correct. Its aim was to secure global financial stability by involving middle-income countries. Hence statement (b) is correct. As stated by the official G20 Website: “On the advice of the G7 Finance Ministers, the G20 Finance Ministers and Central Bank Governors began holding meetings to discuss the response to the global financial crisis that occurred,” Presidency of G20 & Troika: India will hold the G20 Presidency from 1 December 2022 to 30 November 2023. Hence statement (c) is correct. The presidency of the G20 rotates every year among members. The country holding the presidency, together with the previous and next presidency-holder, forms the ‘Troika’ to ensure continuity of the G20 agenda. Italy, Indonesia, and India are the Troika countries right now. Hence statement (d) is incorrect. Consider the following statements with respect to the International Labour Organisation (ILO):

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