# Climate summit

• India pushed for “safeguarding the interests of the developing world” as Prime minister Narendra Modi addressed the G-20 summit at sessions on climate change and sustainable development on Sunday.

• G-20 leaders recommitted to providing $100 billion a year to counter climate change, and pushing for greater vaccine equality to fight the Covid-19 pandemic.

• G-20 countries also committed to ending international finances for all new coal plants by the end of 2021.

• A day ahead of the commencement of the 26th UN conference of parties in Glasgow, India has officially endorsed a website, made by Indian climate experts.

• This website lists the historical carbon dioxide emissions of developed countries.

# MGNREGA

• SC/ST MGNREGA workers got paid within 15-20 days while others have to wait for two months.

• There was a central government directive on march 2 this year to split MGNREGA budget for wage payments along caste lines.

# Informal sector

• Signalling a greater shift towards formalisation of the economy, the share of the large informal sector in overall economic activity dipped sharply in 2020-21.

• Concluding that the share of the informal economy may have shrunk to no more than 20% of the economic output from about 52% in 2017-18.

• SBI group chief economic adviser Soumya kanti Ghosh termed this “a positive development” amid the pandemic.

# China

• China’s government is grappling with twin challenges of weaker than expected economic growth and fresh covid-19 outbreaks.

• The twin challenges confront the communist party ahead of a key leadership meeting next week.

• China’s official National bureau of statistics said on Sunday the contraction in manufacturing activity in October was on account of a power shortage affecting large parts of China.