News Update

G20 finance leaders agree to tax super-rich but forum not yet readyIndia, US ink pact to stymie illegal trafficking of cultural propertyFroth in Yamuna river: Delhi complains to Centre against UP and HaryanaFormer BJP Minister says BJP has totally failed as Opposition in KarnatakaEU penalises 5 countries for infringing budget rulesChina says Relations with Japan at critical stageEU medicines regulator disapproves Alzheimer’s new drugSC says no restrictions on voluntary name banners along Kanwar route eateriesNew Capital gains regime: CBDT issues FAQsFM favours debt reduction but sans affecting economic growthMisc - Royalty not a tax; royalty is contractual consideration paid by mining lessee to lessor for enjoyment of mineral rights & liability to pay royalty arises out of contractual conditions of mining lease: SC CBDGFT simplifies EPCG Scheme procedures to enhance Ease of Doing BusinessKargil Victory Day: PM warns Pak against practising terrorismPM GatiShakti Group evaluates five key infrastructure projectsMisc - Since power to tax mineral rights is provided for in Entry 50 of List II, Parliament cannot use its residuary powers in this subject matter: SC CBLadakh's Budget has increased from Rs 1100 Cr to Rs 6000 Cr in last 5 yrsChina pumps in subsidies worth USD 41 bn into car sectorCus - Owner of goods has a liability to pay customs duty even after confiscated goods are redeemed on payment of fine - Interest follows: SCIndia's installed Nuclear Power Capacity to triple by 2031-32: MoS
 
PM announces creation of Fund to advance Digital Public Infrastructure in Global South

By TIOL News Service

NEW DELHI, NOV 24, 2023: PRIME Minister, Narendra Modi, announced the launch of two India-led initiatives: the Global Digital Public Infrastructure Repository and a Social Impact Fund aimed at promoting the development of Social Impact Fund to advance Digital Public Infrastructure (DPI) in the Global South during the Virtual G20 Leaders' Summit on 22 nd November 2023.

The G20 Digital Economy Working Group (DEWG), chaired by the Ministry of Electronics and Information Technology (MeitY), has led the advancement of the global DPI Agenda. The DEWG's rigorous negotiation efforts have culminated in the first-ever multilateral consensus on DPI. The Digital Economy Ministers' Meeting (DEMM) unanimously endorsed three DPI deliverables, which included: a Framework for building DPI, mobilizing finances for DPI development in Low-and Middle-Income Countries (LMICs), and the creation of a Global DPI Repository (GDPIR) for the exchange of information and best practices. This landmark consensus was also affirmed as a part of the G20 New Delhi Leaders' Declaration (NDLD).

Towards delivering these outcomes, the MeitY has developed the GDPIR, which is a comprehensive resource hub, pooling essential lessons and expertise from G20 members and guest nations. Its primary aim is to bridge the knowledge gap in the choices and methodologies required for the design, construction, deployment, and governance of DPIs. The GDPIR showcases the information in a standardized format from countries and organizations that have developed DPIs at scale, incorporating elements such as maturity scales, source codes (where available), and governance frameworks. Currently, the GDPIR features 54 DPIs from 16 countries, and it can be accessed at https://www.dpi.global.

Furthermore, the Prime Minister Narendra Modi also announced the creation of a Social Impact Fund (SIF), to which India has pledged an initial commitment of 25 million USD. The SIF is envisioned as a government led, multistakeholder initiative to fast-track DPI implementation in the global south. This fund will offer financial support to provide upstream technical and non-technical assistance to countries in developing DPI systems. The SIF offers a platform for all relevant stakeholders, including other governments, international organizations, and philanthropic entities, to contribute to this fund and help accelerate the achievement of the Sustainable Development Goals (SDGs) in Low- and Middle-Income Countries (LMICs) through DPIs.


POST YOUR COMMENTS
   

TIOL Tube Latest

Dr. Shailendra Kumar, Chairman, TIOL Knowledge Foundation, addressing the gathering



Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.