FSDR ON SDGS (Syllabus: GS Paper 3 – Economy)

Context: A new report (FSDR 2024) by the world body has recently emphasized that trillions of dollars are needed to achieve the 17 Sustainable Development Goals (SDGs), which were agreed upon by all United Nations members back in 2015, by the year 2030.

Key Findings of Financing for Sustainable Development Report

• Debt service is projected to reach $40 billion annually from 2023 to 2025 in the least developed countries (LDC), surpassing the $26 billion mark set in 2022.
• The poorest countries allocate 12 per cent of their revenues towards interest payments, a fourfold increase compared to a decade ago.
• In approximately 40 per cent of the world's nations, governments allocate more funds towards interest payments than crucial sectors like education or health.
• If existing trajectories persist, the UN forecasts that nearly 600 million individuals will endure extreme poverty beyond 2030, with a significant proportion being women.

Sustainable Development Goals

• About: It is the universal call to action to end poverty, protect the planet, and ensure that all people enjoy peace and prosperity.
• Adopted by: United Nations in 2015 
• Vision: To achieve a better and more sustainable future for all. 
• The 17 SDGs came into force with effect from 1st January 2016 as a part of the 2030 Agenda for Sustainable Development.
• India's Commitment: India, as a signatory nation, pledged to pursue and accomplish these goals within the framework of the 2030 Agenda.
• India’s Ranking in SDGs:112 Among 166 Countries for Performance in 2023.
• SDGs are not legally binding.