Statement by India under Agenda Item 3 Interactive Dialogue with the Independent Expert on the effects of foreign debt and related international financial obligations of States on the full enjoyment of all human rights, particularly economic, social and cultural rights (IE’s report on ‘fiscal legitimacy through human rights: a principled approach to financial resource collection and allocation for the realization of human rights’) at the 55th Session of the Human Rights Council (26 Feb - 5 Apr 2024), delivered by Jagpreet Kaur, Under Secretary, MEA Statement by India under Agenda Item 3 Interactive Dialogue with the Independent Expert on the effec..
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Statement by India under Agenda Item 3 Interactive Dialogue with the Independent Expert on the effects of foreign debt and related international financial obligations of States on the full enjoyment of all human rights, particularly economic, social and cultural rights (IE’s report on ‘fiscal legitimacy through human rights: a principled approach to financial resource collection and allocation for the realization of human rights’) at the 55th Session of the Human Rights Council (26 Feb - 5 Apr 2024), delivered by Jagpreet Kaur, Under Secretary, MEA

Statement by India under Agenda Item 3 Interactive Dialogue with theIndependent Expert on the effects of foreign debt and related international financial obligations of States on the full enjoyment of all human rights, particularly economic, social and cultural rights (IE’s report on ‘fiscal legitimacy through human rights: a principled approach to financial resource collection and allocation for the realization of human rights’) at the 55th Session of the Human Rights Council (26 Feb - 5 Apr 2024), delivered by Jagpreet Kaur, Under Secretary, MEA

Geneva, 12 March 2024

 

     Madam Vice President,

  1. We thank the Independent Expert for presentation of the report.

  2. Fiscal legitimacy in resource allocation; renewed focus on education, health and infrastructure in budget allocations; comprehensive gender budgeting; and a progressive taxation system with increasing use of digitalisation, form the core of efforts by the Government of India in managing the country’s economic architecture. 

  3. Greater and sustained access to low-cost financing can alleviate the fiscal stress felt by developing countries and assist in realization of SDGs. There is also an urgent need to enhance the voice and representation of developing countries in decision-making in international financial institutions. 

    Madam Vice President,

  1. The distinguished Independent Expert has also highlighted issues faced in illicit financial flows in her report. In this regard, efforts to start negotiations on the UN Framework Convention on International Tax Cooperation are welcome steps, as this would help to foster inclusivity in global tax rule-making and discussions on uneven allocation of taxing rights in a digitalized economy. 

  2. For the future, we would like to suggest to the Independent Expert to look into the prevailing high cost of transmitting remittances, and the potential positive impact of lowering remittance costs on developing economies, from a human rights perspective.

     I thank you.