Consider the following statements with reference to Organisation for Economic Co-operation and Development (OECD): 1. OECD is an official Permanent observer to the United Nations and is referred to as a think-tank or as a monitoring group. 2. India is not a member of OECD. 3. OECD is funded by its member countries. Which of the statement given above is/ are correct?

Option 4 : 1, 2 and 3

The correct answer is 1, 2 and 3.

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•  Organisation for Economic Co-operation and Development (OECD)
  • ​The Organization for Economic Cooperation and Development (OECD) is a unique panel where the governments of 36 member states with market economies work with each other, as well as with more than 70 non-member economies to promote economic growth, prosperity, and sustainable development.
  • The main purpose of the OECD is to improve the global economy and promote world trade. It provides an outlet for the governments of different countries to work together to find solutions to common problems.
  • The OECD’s headquarters are at the Château de la Muette in Paris, France.
  • OECD is an official Permanent observer to the United Nations and is referred to as a think-tank or as a monitoring group. Hence, statement 1 is correct.
  • India is not a member of OECD yet. But it is a key partner to OECD. Hence, statement 2 is correct.
  • India became the 27th member of the OECD’s Development Centre.
  • OECD is funded by its member countries. National contributions are based on a formula that takes account of the size of each member’s economy. Countries may also make voluntary contributions to financially support outputs in the OECD program of work. Hence, statement 3 is also correct.