Finance Minister Nirmala Sitharaman on Saturday said that inadequate access to developmental finance is hindering developing economies from achieving Sustainable Development Goals (SDGs) and underscored the urgent need to address this USD 4 trillion annual financing gap.
Addressing the third Voice of Global South Summit virtually, Sitharaman said that recent reports reveal that the implementation of many SDGs in developing economies is stagnating, with some indicators even regressing.
The SDG financing gap is estimated to be USD 4 trillion annually for developing countries, she said.
Observing that the global South is affected by global uncertainties, she said one in four developing countries will be poorer by the end of this year than they were before the pandemic as per a recent World Bank report.
"Growth thus remains insufficient to drive progress in development and poverty reduction. To accelerate progress on SDGs, there is an urgent need to address the USD 4 trillion financing

Nirmala Sitharaman, Nirmala, Finance Minister

India has grown well in terms of its overall growth rate, and at 7 per cent, it is the fastest growing major economy in the world, she said

Sitharaman, Gopinath

Kolkata rape-murder case: Protests have taken place in the state capital before - it's in the city's DNA. However, the scale of this midnight protest was larger than any in recent times

kolkata protest, Doctor Protest, Protest

Bhavish Aggarwal also announced the relaunch of Ola Share - the ride sharing service, which will start today in Bangalore and soon expand to other cities

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Shares of the Bentonville, Arkansas-based company rose more than 7 per cent in premarket trading

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Starbucks is banking on that experience as he becomes the company's sixth CEO, replacing Laxman Narasimhan, who stepped down on Aug 13

Brian Niccol

The Nasdaq rose more than 2% on Thursday after July the US retail sales data signalled resilient consumer spending, allaying fears of an imminent recession in the world's largest economy.

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In response to the brutal crime at R G Kar Medical College and Hospital in Kolkata, Indian Medical Association has announced a nationwide withdrawal of services by doctors for 24 hours on Aug 17

Doctors and students protest at RG Kar Medical College and Hospital in Kolkata on Wednesday 	(Photo: PTI)

An analysis of the current sports infrastructure and playfields in the country reveals that only 10.4 per cent of India's mapped and completed sports infrastructure is Olympic level

Manu Bhaker interacts with PM Narendra Modi

Food regulator FSSAI has launched a project to assess microplastic contamination in food products and develop methods for its detection.
The Food Safety and Standards Authority of India (FSSAI) has launched an innovative project to tackle the growing concern of microplastic contamination in food, recognising microplastic pollution as an emerging threat that requires immediate attention.
According to an official statement, the project -- Micro-and Nano-Plastics as Emerging Food Contaminants: Establishing Validated Methodologies and Understanding the Prevalence in Different Food Matrices -- was started in March this year.
The aim is to develop and validate analytical methods for detecting micro and nano-plastics in various food products, as well as assess their prevalence and exposure levels in India.
"The primary objectives of the project include developing standard protocols for micro/nano-plastic analysis, conducting intra- and inter-laboratory comparisons, and generating critical

packaged food

In terms of prosperity, Haryana's per capita income has been lower than only Goa, Sikkim, Delhi, Karnataka, and Telangana in recent years and much higher than the national average

Joblessness, umemployment

Senior Congress leader Prithviraj Chavan has demanded that the cut off time to register for the Maharashtra government's Mukhyamantri Majhi Ladki Bahin Yojana be waived off to enable all eligible women to avail financial assistance.
The August 31 cut off date should be scrapped and the scheme should be implemented as a social security right, Chavan said in a letter to Chief Minister Eknath Shinde.  Due to technical glitches, the server of the official portal is non functional most of the time, while in several instances women do not get the registration OTP for nearly six hours, he said.  Women are worried they will not be able to register themselves for the scheme in time, Chavan said in the letter.  He said the registration limit was July 15 earlier and this was extended to August 31 after he made such a demand during the monsoon session, adding the age limit was increased from 60 to 65 years following his initiative.

Chavan, Prithviraj Chavan

The rating agency's arm said that India's recent consumer price inflation at around 5 per cent was without clear evidence of a trend towards slowing price pressures

Most GCCs in India support critical business goals by using AI, data analytics, robotic process automation, and cloud services

India ranked third globally in terms of funding raised by fintech companies, behind the US and China, the report said

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FSSAI launches project to tackle microplastic contamination in food

Haryana faces high joblessness despite being a prosperous state

Scrap registration cut off date for Ladki Bahin scheme, says Chavan

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Urgent need to address $4 trn financing gap to accelerate SDG progress: FM

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