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

Karnataka Chief Minister Siddaramaiah on Saturday ruled out his resignation, following the Governor granting sanction to prosecute him, in connection with the Mysuru Urban Development Authority (MUDA) site allotment 'scam', and said he had done no wrong to step down.
Terming Governor Thaawarchand Gehlot's decision as "anti-Constitution and against law", he said. It will be questioned in  court and that he will battle it out legally.
"It is a big conspiracy to dislodge the elected government. They (BJP) have done this in several states including Delhi, Jharkhand. A conspiracy has been designed to destabilise the elected government in Karnataka also. The Central government, BJP, JD(S) and others are involved in this conspiracy," Siddaramaiah told reporters here.
"High command (of Congress) is with me, the entire Cabinet and the government is with me. All Congress MLAs, MLCs, Lok Sabha and Rajya Sabha members are with me....I have done no wrong to resign," he asserted.
Accusing the ..

Siddaramaiah,  Karnataka CM

Nifty Metal index dropped by 2.4%, and key players like NMDC, Hindustan Copper, and JSW Steel saw their shares fall between 2% and 6% following the SC judgment on Wednesday

mining

A green card, officially called a Permanent Resident Card, is a document issued by the US government

American green card

More than 90 per cent of Indian institutional investors now consider sustainability information essential in their due diligence process, a study by Deloitte and The Fletcher School at Tufts University said, adding as sustainability becomes more integral to investment management, trust in the ESG data used to inform these decisions is lacking, posing challenges in accessing trustworthy data.
"According to Indian investors, the inconsistency or incomparability of ESG rating data (73 per cent), cost constraints on integrating ESG data into investment decision models (71 per cent) and lack of measurable outcomes in corporate disclosures (70 per cent) reduce the trust factor of available sustainability data, inhibiting their ability to implement ESG investment strategies," Deloitte said citing its study titled 'Investor trust in sustainability data'.
The study further highlights that Indian investors are more likely to trust in-house proprietary data systems and audited (or assured) ...

Deloitte

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.

AI technology, artificial intelligence, ML

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

Before today's Independence Day speech, PM Modi's longest speech was made in 2016 celebrations of the I-Day, lasting 96 minutes

PM Modi

He said that experts estimate that due to climate change, rain-dependent rice yields in our country could decrease by 20% by 2050 and by 47% by 2080

Pinarayi Vijayan, Kerala CM

The first meeting of the Parliament's joint committee on the Waqf (Amendment) Bill will be held next week.
The committee, chaired by BJP member Jagdambika Pal, will meet representatives of the ministries of minority affairs, and law and justice on August 22, a notice from the Lok Sabha secretariat said.
The representatives from the minority affairs ministry are also expected to brief the committee on the "amendments proposed on the Bill", the secretariat said.
The Bill is the first major initiative from the BJP-led NDA government aimed at reforming the registration process for Waqf properties through a centralised portal.
It proposes several reforms, including establishing a Central Waqf Council alongside state Waqf Boards with representation to Muslim women and non-Muslim representatives.
A contentious provision of the Bill is the proposal to designate the district collector as the primary authority in determining whether a property is classified as Waqf or government land.
The 

Parliament, New Parliament, Lok sabha, Rajya sabha

Senior AAP leader Manish Sisodia as part of his 'Padyatra' campaign met people of his Patparganj constituency on Saturday, and alleged the BJP's "conspiracy" to keep him in jail till the Delhi Assembly polls failed due to the blessings of Lord Hanuman.
The former deputy CM of Delhi, without naming any party leaders, said the central government agencies registered such cases against him and Kejriwal that are registered against terrorists and drug mafia.
"I have come among my brothers and sisters of Patparganj after 17 months. They (BJP) tried to keep me in jail somehow in fake cases till Delhi Assembly polls. But due to the blessings of Bajrangbali and Ram ji, their conspiracies failed," Sisodia said addressing a gathering of people.
He said AAP convenor and Delhi Chief Minister Arvind Kejriwal too will be out of prison.
People greeted Sisodia with garlands and some women also tied 'rakhi' to him. He asked about their well-being and told them to contact him if they faced any ...

Manish Sisodia, Sisodia, Manish

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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Root cause of Wayanad disaster is climate change, says CM Vijayan

First meeting of Parl joint committee on Waqf Bill to be held on Aug 22

Conspiracy to keep me in jail till Delhi Assembly polls failed: Sisodia

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

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