21 June 2025 Current Affairs (With PDF)

Fourth International Conference on Financing for Development (FFD4)

(a) Location:

• Sevilla, Spain

(b) Outcome Document:

• Compromiso de Sevilla (“Seville Commitment”)

(c) United States:

• Exited the process entirely.

Purpose of FFD4

• Reinforce a renewed global financing framework for achieving the Sustainable Development Goals (SDGs).
• Unite governments, businesses, and civil society for sustainable development financing.

FFD Process Evolution

Key Dimensions in the Compromiso de Sevilla (FFD4 Outcome)

1. Global Financing Framework

• Reaffirms earlier FFD commitments (Monterrey, Doha, Addis).
• Seeks to close the $4 trillion annual SDG financing gap in developing nations.

2. International Financial Architecture Reforms

• Advocates for inclusive governance of IMF & World Bank.
• Pushes for IMF quota reforms and World Bank shareholding review.

3. Debt Sustainability

• UN to lead a group with IMF/World Bank to design voluntary principles for responsible sovereign debt management.

4. Tax Reforms

1. Supports Pillar II of the OECD/G20 BEPS (Base Erosion and Profit Shifting) project.

• Mandates minimum corporate tax for multinationals.

2. Emphasizes:

• Global Anti-Base Erosion (GloBE) Rules
• Subject to Tax Rule (STTR)
• Country-specific technical support for implementation.

About Integrated National Financing Frameworks (INFFs)

• Country-owned tools aligning public and private financing with national SDG strategies.
• Help nations mobilize, plan, and monitor financing for development priorities.

Launch of Gender Budgeting Knowledge Hub Portal

(a) Launched by:

• Ministry of Women and Child Development (MWCD)

(b) Occasion:

• National Consultation on Gender Budgeting

About the Portal

1. Centralized platform hosting:

• Policy briefs, case studies, toolkits
• Gender-disaggregated data
• Best practices from India and globally

2. Stakeholders:

• Intended for central and state governments, training institutions, and researchers.

3. Features online proposal submission for Gender Budgeting training programs and Capacity-building initiatives

What is Gender Budgeting (GB)?

• A planning and budgeting strategy to promote gender equality.
• Ensures government schemes and resource allocations benefit women and men equitably.
• Analyses how policies affect genders differently and realigns spending to reduce inequality.

Child Budgeting

• Institutionalized via Statement 12 in the Union Budget for allocations benefiting children.
• Complements Gender Budgeting (Statement 13).

Why Gender Budgeting Matters

• Gender-Sensitive Governance: Recognizes different impacts of resource allocation on men and women.
• Participatory Budgeting: Empowers women’s involvement at all levels—PRIs, urban bodies, ministries.
• Legal Support: Strengthens enforcement of women-centric laws (e.g., Criminal Law Amendment Act, 2013; POSH Act, 2013).
• Enhanced Outcomes: Ensures welfare spending leads to measurable improvements in women’s welfare, education, health, and empowerment.

More Girls Opting for Science than Arts Milestone in 2024

• For the first time in over a decade, more girls passed Class 12 with science (28.14 lakh) than with arts (27.24 lakh).
• This marks a major gender trend reversal, as science, traditionally male-dominated, is now being embraced by a growing number of girls.

Women in STEM (Science, Technology, Engineering, Mathematics)

1. Current Status

Girls = 46% of Class 12 science stream pass-outs in 2024.

As per AISHE 2021–22:

• 52.1% of science students in higher education are women.
• Female presence is equal in medicine.
• Increasing participation in engineering & technology, though still male-skewed.

2. Barriers Faced by Women in STEM

• Social & Cultural Norms: Gender stereotypes discourage science careers for girls.
• Lack of Role Models: Few women in top scientific roles limits aspiration.
• Workplace Bias: Inequity in hiring, pay, promotions; unfriendly work environments.
• Drop-out Rates: High attrition due to family responsibilities or lack of support.

3. Why More Women in STEM Matters

• Ensures gender equity in a critical economic and innovation sector.
• Encourages diversity of thought in scientific problem-solving.
• Helps close the gender pay gap.
• Essential to achieving SDG 5 (Gender Equality) and SDG-linked scientific progress.

QS World University Rankings 2026 – India’s Performance

Key Highlights

1. Total Indian Universities Ranked: 54

•  India ranks 4th globally in terms of representation, after the US, UK, and China.

2. Top Ranked Indian Institution:

• IIT Delhi: Ranked 123rd, improved from 150th in 2025.

3. Employer Reputation:

• 5 Indian Institutions in the Global Top 100, reflecting strong industry trust in Indian graduates.

4. Citations per Faculty:

• 8 Indian Universities feature in the Top 100 globally, indicating improving research quality.

India’s Research & Innovation Ecosystem

• Global Standing: Ranked 39th among 133 countries in the Global Innovation Index (GII) 2024.

Key Concerns

Significance of the Shift

• The rise in rankings and employer confidence highlights India’s growing global academic footprint.
• Government's support through funding, policy reforms, and ecosystem building is key to sustaining this momentum.

World Investment Report 2025 – Key Highlights

Global Foreign Direct Investment (FDI) Trends

1. FDI Decline:

• Global FDI flows fell by 11% in 2024, reaching $1.5 trillion.

2. Top Recipients:

• USA: Remained the largest recipient of FDI.
• India: Ranked 16th, a drop in FDI inflows amid global slowdown.

3. Uneven FDI Growth:

• Africa: FDI rose 75%, skewed by one mega project in Egypt.
• Latin America & Caribbean: FDI declined 12%.

SDG Investment Gaps Widening

Critical Sector Declines:

• FDI in job-creating and SDG-critical sectors (infrastructure, energy, social services) is stagnant or declining in many developing countries.

Financing Requirement:

• Achieving SDGs in developing countries needs $4–5 trillion annually.
• Current investment flows are far below required levels.

Causes of Investment Decline

• Geopolitical Tensions: Including wars and global uncertainty.
• Trade Fragmentation: Rising protectionism and economic nationalism.
• Industrial Policy Competition: Strategic subsidizing in advanced economies.
• Financial Risks & Market Volatility: Deter long-term private investment.
• Lack of Confidence: Uncertainty continues to erode investor sentiment, particularly in the Global South.

Recommendations by UNCTAD

India’s Position

• FDI Rank: 16th globally.
• Highlights the need for targeted reforms to attract more sustainable FDI, particularly in green and infrastructure sectors.

Energy Transition Index (ETI) 2025 – Key Highlight

Top Performers

These Nordic countries continue to lead due to:

• High renewable energy share
• Strong regulatory frameworks
• Energy-efficient infrastructure

India’s Performance

1. Rank: 71st (out of ~120 countries)

2. Dropped from 63rd in 2024

3. Concerns:

• High dependence on coal and fossil fuels
• Challenges in scaling grid infrastructure and renewable integration
• Slower progress on energy equity and environmental sustainability

About the ETI

• Published by: World Economic Forum (WEF)
• Measures countries’ readiness for transition to clean, secure, and sustainable energy systems

Index Components

1. System Performance (Current energy system’s outcomes)

• Energy Security
• Energy Equity (access & affordability)
• Environmental Sustainability

2. Transition Readiness

• Regulatory frameworks
• Infrastructure & innovation
• Human capital & investment environment

The ETI uses 43 indicators, and countries are scored on a scale of 0–100.

Significance for India

India must address:

• Scaling renewables, especially solar and wind
• Improving grid resilience and storage capacity
• Enhancing policy and investment support
• Balancing energy access with decarbonisation