G 20 clinches ‘New Delhi Declaration ‘

G 20 clinches early consensus on the contentious ‘ Ukriane Paragraph  ‘ issue .

PM Modi stopped the second session midway to announce that Delhi declaration has been adopted .

Delhi declaration marks shift from position taken by US , Europea. Union and other countries for harsh crucial to Russia .

Diplomats told that final Proposal was proposed by ” Indonesia , India , Brazil and South Africa .

G20 Sherpa Amitabh Kant said that negotiations were ” very tough and ruthless ” and declaration was achieved only becaus of PM Modi’s determination for a joint communique .

About G20 declaration

The declaration is of 83 paragraphs , which include aight paragraphs on Ukraine war and the resultant economic impact , continued many agreements as a part of finance track . Highlighting an agreed to strengthen multilateral development banks , a way forward for regulating cruotocurrencies , and use of digital Public infrastructure for financial inclusion . On climate front it seems ” quantum jump ” in climate financing from billions of dollars to trillions of dollars . * 5.8 – 5.9 trillion dollar in the pre 2030 period for developing countries as well as US dollar 4 trillion per year for clean energy technologies by 2030 to reach net zero by 2050 .”

 Launch of Global Biofuels Alliance a key moment in quest for clean energy :PM

India on Friday launched the Global biofuels alliance with PM Modi urging G 20 nations to join the initiatives with plea to take blending of ethanol to with petrol to take to 20 % globally .

The alliance was launched by PM Modi on the sidelines of G20 summit .

The initiating members of Alliance include India , Argentina , Bangladesh , Brazil , Italy , Mauritius ,  South Africa  and the UAE .

US, Canada and Singapore are observer countries .

” Today the need of hour is that all counties should work together in the field of fuel blending . Our Proposal is to take an inistaitive at an global level to take ethanol blending in Petrol up to 20 %. ” Mr. Modi said .

 G20 leaders Declaration notes  need for more finance to arrest global global warming

G20 for the first time recognises a quantum jump in finance necessary for leaders for the world to transition toa renewable energy economy .The Declaration  ” noted ….. the need for 5.8 trillion dollar to 5.9 trillion dollar in the pre 2030 period required for developing countries …. as well as four trillion dollar for clean energy technologies by 2030 to reach net zero by 2050 ” .

A long standing dispute between developing and developed countries regarding climate change and financing is , on transferring mone y and technologies  to defelooinf countries .

Though in 2010 it was agreed by developed countries to transfer 100 billion dollar per year to developing countries till 2020  but it was not realised .

The G20 communique also ” encourages tripling of renewable energy capacity by 2030 and voluntarily doubling the rates of efficiency improvement by 2030 ” .

On the finance track , G20 to push forward on Crypto regulation,MDB reforms

Paving the way for a coordinated global approach to global approach to regulating cruotocurrencies , strengthing multilateral development banks , by ending it’s lending capacities and use of digital public infrastructure like the India stack to expand public infrastructure like the India stack to expand financial inclusion around the world , are some of the 10 major outcomes achieved under India’s track of G20 presidency .

Discussion of Cryltocurrency regulation and Multilateral development banks will continue in Morocco next month.

Ms . Sitharaman identified ” laying the building block for gliabally coordinated and comprehensive policy and regulatory framework for Crypto assets ” as a significant outcome .

India Saudi Arabia joins US and EU for an economic corridor project

India and Saudi Arabia joined European Union and the US to launch Partnership for Global Infrastructure and Investment ( PGII ) .and India Middle East – Europe economic corridor.

” We believe connectivity between different countries increase not only business but trust between them by promoting connecting initiatives ” Mr. Modi said on the occassion .

Saudi Prince is on state visit to India . PM Modi will held bilateral meetings with Saudi Arabia .

 Chandrababu Naidu held in multi crore scam case

Telgu Desam Party ( TDP ) chief and former CM of Andhra Pradesh B. Chandrababu Naiduwas arrested for his alleged involvement in multi crore ” skill development scheme” at Nandyal in Andhra Pradesh  in the early hours of Saturday .

DGP CID told the pressoerson that he played that he played the key role in siphoning off approximately ₹371 crore belonging to the A.P. Skill Development Corporation ( ASPDC ) through fictious companies during the TDP role between 2014 and 2019 .The cash pertained to the establishment of center’s of excellence by the ASPDC at a project cost of about ₹3,500 crore .

West Bengal unveils education policy , stresses on three language formula

 World

Over 1000 dead in Morocco earthquake

A rare Powerful earth quake struck Morocco late on Friday night , killing at least 1037 people and damaging buildings from village in historic city of Marrakech and villages in Atlas mountains . Among the injured 721 are in critical condition. Deaths has been recorded in Ourazada , Chicaouca , Azilal and Toussiofina Province as well as Agadir , Marrakesh and Casablanca area . 

Foreign leaders has expressed condolences  with many has including Israel has offerred help .

Srilanka backs intelligence chief after allegations of his complicity in Ester attacks

Srilanka ‘ s defence ministry on Saturday defended the country’s intelligence chief after he was accused by a British Channel as the plotter of 2019 Ester Sunday suicide bombings which killed 270 people .

UK’s Channel 4 televison station on tuesday aired a documentary titled Srilanka”s ester bombing – dispatched alleging the involvement and complicity of certain govt officials in orchestrating the 2019 Ester suicide bombing .

” The ministry of defence vehemently denounces the accusation of orchestrating the attack and assisting the bomber a against a senior dedicated military officer who has served the nation for 36 years . The ministry said in a statement .

Kremlin persists with condition of trade deal

The Kremlin said on Saturday it was sticking to its condition for return to of grain deal that it came out of in July .

Kremlin Spokesperson Dmitry Peskov said Russia needed its state agriculture bank  – and not a subsidiary of the bank , as proposed by UN . – to be reconnected with SWIFT payment system .

Few months after Russia started its military operation in Ukraine it was pulled out of SWIFT payment system

Russian , Chinese official attend North Korea anniversary Parade

North Korea marked it’s  founding anniversary with a parade attended by Kim Jong Un as well as Russia. diplomat and a high ranking Chinese delegation .

China on ‘  high alert ‘ after Taiwan and US transit Taiwan strait