Dear Aspirants,
Welcome to Mentor for Bank Exams. In
this article, we will share the decisions made and issues discussed in G20
Summit which was held in Buenos Aires, Argentina. A lot of issues and
concerns were taken care of in this year G20 Summit. We have compiled all the
information in this short article where you will get the updates related to G20
Summit 2018.
G20 Summit 2018
The G-20 Summit 2018 was
held in Buenos Aires, Argentina. G-20 is a grouping of the world’s 20
major economies. This year, the theme of the summit was ‘Building Consensus
for Fair and Sustainable Development’.
Following are the important agenda
discussed during the G20 Summit 2018:
1. Climate change: G20 signatories to the Paris
Agreement on climate, which is all of them except the US, pledged the “full
implementation” of the pact, which they called “irreversible.” They also took
note, without further pledges, of UN scientists’ call for a more ambitious
target of reducing warming to 1.5 degrees Celsius above pre-industrial levels.
2. Trade: Bowing to the view of Trump’s
administration, the G20 stated that multilateral trade was “falling short of
its objectives” on promoting growth and job creation.
3. IMF: Calling the International
Monetary Fund crucial to the global safety net, the G20 pledged to provide
adequate funding and to meet a goal of finalising new national quotas in time
for the global lender’s spring 2019 meetings.
4. Corruption: The G20 “committed to prevent
and fight corruption and lead by example,” promising action from 2019 through
2021 on cleaning up state-run enterprises.
5. Gender inequality: The G20 recommitted to a
four-year-old goal of reducing the gender gap in the labor force by 25 percent
by 2025.
6. Future of work: Noting that new technologies
will transform the nature of labour, the G20 called for “an inclusive, fair and
sustainable” future of work, with retraining of workers where needed.
7. Infrastructure: Calling infrastructure a key
driver of global growth, the G20 called for greater standardisation in
contract-making to encourage more private capital.
- Prime
Minister Narendra Modi highlighted the flagship programmes like the
Pradhan Mantri Jan Dhan Yojna, MUDRA and Start-up India undertaken by
Indian government to modernise the economy and promote inclusive growth at
the opening session of the G-20 summit in Buenos Aires.
- PMJDY:
Pradhan Mantri Jan Dhan Yojana is a financial inclusion programme that
aims at expanding and making affordable access to financial services to
the last man in the row. Since its launch on August 15, 2014 till June 27,
2018, over 31 crore bank accounts were opened and over Rs. 7,92,00 crore
were deposited under the scheme.
- MUDRA:
It stands for Micro Units Development and Refinance Agency, is a financial
institution set up in 2016 for development and refinancing micro units
enterprises. It provides funding to the non-corporate small business
sector through various last mile financial institutions like banks, non
banking financial companies (NBFCs) and Micro Finance Institutions (MFIs).
- Start-up
India: Launched in January 16, 2016, the Startup India is an initiative of
the Indian government to promote startups, generate employment and create
wealth.
