Financing for Development - Sustainable Development Goals (SDGs) – With Reference to India Content: What Is Financing for Development? Millennium Development Goals Sustainable Development Goals Ways to achieve SDGs Reference to India Sources- UNDP, Economic Times, Business Standard.

1. FINANCING FOR DEVELOPMENT
Sustainable Development Goals (SDGs) – With
Reference to India

2. CONTENT
 What Is Financing for Development?
 Millennium Development Goals
 Sustainable Development Goals
 Ways to achieve SDGs
 Reference to India

4. WHAT IS FINANCING FOR DEVELOPMENT?
Financing for development ultimately is money that comes from you
and me and billions of others who in turn entrust it to others who
invest it and deploy it. In the end, we are all stakeholders in the
finance for development agenda.

5. MILLENNIUM DEVELOPMENT GOALS (MDGS)
 In 2000, 189 nations made a promise to free people from extreme
poverty and multiple deprivations. This pledge became the eight
Millennium Development Goals to be achieved by 2015. In
September 2010, the world recommitted itself to accelerate progress
towards these goals.
 The Millennium Development Goals (MDGs) are the
eight international development goals that were established following
the Millennium Summit of the United Nations in 2000, following the
adoption of the United Nations Millennium Declaration

7. ACCOMPLISHMENT OF MDGS
 The Millennium Development Goals were established in the year
2000 and include eight anti-poverty targets to be accomplished
by 2015. Since then, enormous progress has been made
towards achieving the MDGs:
 Global poverty continues to decline
 More children than ever are attending primary school
 Child deaths have dropped dramatically
 Access to safe drinking water has been greatly expanded
 Targeted investments in fighting malaria, AIDS and
tuberculosis have saved millions

8. INDIA AND THE MDGS

9. WHAT’S NEXT?
•The Millennium
Development
Goals show that
targets work. They
have helped end
poverty for some, but
not all.
•In September 2015,
United Nations
Member States
adopted
the Sustainable
Development
Goals as part a new
sustainable
development
agenda that must
finish the job and
leave no one
behind.

10. A NEW VISION FOR SUSTAINABLE DEVELOPMENT
 In 2000, world leaders set eight Millennium Development Goals
(MDGs) aimed at ending poverty and hunger, improving education,
gender, and health, and promoting sustainable development. With
the MDGs set to expire at the end of 2015, a new post-2015
development agenda is being designed. Today’s global realities and
development challenges require that the proposed agenda be more
ambitious and interconnected than its predecessor, with a more
comprehensive vision of development embracing economic, social
and environmental dimensions.
 The proposed Sustainable Development Goals (SDGs) encourage
every country to end poverty and enhance social and economic
development in a sustainable manner. These goals will not be
achieved with a business-as-usual approach.

11. SUSTAINABLE DEVELOPMENT GOALS
(SDGS)

12. WHERE IS THE FUNDING GOING TO COME FROM TO
ACHIEVE THESE 17 GOALS?
There are three sources of finance for the SDGs:
 Domestic in-country resources
 Traditional aid
 Private finance

13. WAYS TO ACHIEVE SDGS
 Domestic Resource Mobilization - Domestic Resource Mobilization
(D.R.M.) refers to the generation of savings from domestic resources and
their allocation to economically and socially productive investments.
Such resource allocation can come from both the public and private
sectors. The public sector does this through taxation and other forms of
public revenue generation
 Reducing Illicit Financial Flows - Illicit financial flows (IFFs) are illegal
movements of money or capital from one country to another. GFI
classifies this movement as an illicit flow when the funds are illegally
earned, transferred, and/or utilized.
 Official Development Assistance - DAC defines ODA as “those flows
to countries and territories on the DAC List of ODA Recipients and to
multilateral institutions which are provided by official agencies, including
state and local governments, or by their executive agencies; and each
transaction of which:
a) is administered with the promotion of the economic development and
welfare of developing countries as its main objective; and
b) is concessional in character and conveys a grant element of at least
25 per cent (calculated at a rate of discount of 10 per cent).”

14. WAYS TO ACHIEVE SDGS
 Improving the Investment Climate - The investment climate for private business is
critically important.
 Public - Private Partnership - A public private partnership is a government service or
private business venture which is funded and operated through a partnership of
government and one or more private sector companies.
 The Potential of Institutional Investors in Development
 Increasing Private Philanthropy in Development

15. WHAT ARE THE AREAS WHERE INDIA CAN MAKE THE
MOST PROGRESS IN HELP ACHIEVING THE SDGS?
India has made significant progress in achieving some of the MDG targets,
particularly in education and health, aided by clear, quantifiable targets and
regular monitoring of progress.
The SDGs present the Government of India with an opportunity to reaffirm its
commitment to providing quality primary health care to all. What we have
seen is that this requires setting robust national and sub-national level plans
while targeting the most vulnerable. Investments must be made to develop
strong, resilient primary healthcare systems which have the requisite
infrastructure and are fully functional. I believe that India has the political
commitment and intellect to draw robust plans and adapt measures that will
aid in closing the gap on preventable deaths, which disproportionately affect
the poorest.

16. CHALLENGES FOR INDIA IN ATTAINING SDGS
 Defining Indicators: Past record indicates that we have been not very
successful in setting relevant indicators to measure outcomes. Quality
education has not successfully been defined. India’s myopic definition of
“safe” drinking water (with hand pumps and tube wells considered as safe as
piped water supply) means that official data suggests 86% of Indians have
access to safe drinking water and, as a result, we are “on track” for
the MDG goal on drinking water. However, the number of waterborne
diseases and deaths due to diarrhoea clearly indicate, this is not the case.
 Financing SDGs: A new study estimates that implementing SDGs in India
by 2030 will cost around US$14.4 billion. Given the recent cut in social sector
schemes by the Union government, unless states devote a significant portion
of their resources on the social sector, there is likely to be a significant
funding gap. High growth and redistribution itself are also not enough.
According to theUnited Nations MDG 2014 report, despite high economic
growth, in 2010, one-third of the world’s 1.2 billion extreme poor lived in India
alone. Given these constraints, it is likely that domestic revenues aside,
private finance could be a crucial source for financing the SDGs.

17. CHALLENGES FOR INDIA IN ATTAINING SDGS
 Monitoring and Ownership: Relatedly, a third significant
challenge is going to be with respect to ownership. Reports suggest that NITI
Aayog will play a significant role in tracking progress. However, members at
the Aayog have expressed reservations on being able to take on this
mammoth task. Moreover, if states are expected to play a pivotal role (giving
the devolution post 14th Finance Commission), it will require ownership not
just nationally, but also at the state and local level.
 Measuring Progress: Lastly but most importantly is the question
of measuring progress or achievement. By the government’s own admission,
non-availability of data (particularly in respect to sub-national levels),
periodicity issues and incomplete coverage of administrative data, made
accurate measuring progress of even MDGs virtually impossible.

18. CONCLUSION
 These 4 challenges aside, it is important to
remember, that while SDGs provide broad goals
and targets, it will be up to the national, and state
governments to identify priorities, decide
appropriate locally relevant policies, harness
innovation and ensure that an implementation and
monitoring plan is in place. Only then we will have
any chance in ensuring that the ‘S’ in SDGs, also
stand for successful.