Modi Gov Spent 5 Times More Money For G20 2023 Than Any Nation In The History. But WHHYYY? I know that’s a big why but read below and you will find your answer!
Ladies and gentlemen, hold onto your wallets, because India’s Modi government has embarked on a spending spree of epic proportions. The buzz in town is that they’ve decided to splurge not twice, not thrice, but a whopping five times more money on the G20 Summit than any nation in history! But, before we all start singing praises or raising eyebrows, let’s dive into the nitty-gritty of this extravagant affair, where even financial restraint seems to be on vacation.
The G20 Saga
The G20, a group of 19 countries and the European Union, has been gathering since 1999 to discuss global economic stability and other pressing issues. Over the years, various nations have played host to this grand event, each spending considerably to ensure a memorable affair. But hold your breath, because when it comes to spending, the Modi government seems to have taken the cake.
G20 2023 Expenditure History
In the annals of G20 history, we’ve witnessed extravagant spending, but nothing quite like this. Past hosts have spared no expense to showcase their nation’s prowess. Germany, in 2017, doled out around $200 million, while the 2018 edition in Argentina spent approximately $100 million. However, these numbers seem like mere pocket change compared to India’s ostentatious endeavor.
The Indian government has spent around Rs 4,100 crore (about US$530 million) on hosting the G20 summit in New Delhi. The expenses have been categorized broadly under around 12 categories, including:
- Security: Rs 1,600 crore (about US$200 million)
- Infrastructure: Rs 800 crore (about US$100 million)
- Beautification: Rs 600 crore (about US$75 million)
- Hospitality: Rs 500 crore (about US$62 million)
- Communication: Rs 200 crore (about US$25 million)
- Others: Rs 400 crore (about US$50 million)
G20 Summit Cost : The Modi Extravaganza
Picture this: India, a land of stark contrasts, with a booming economy and pockets of extreme poverty. The Modi government, known for its grand gestures and bold moves, has decided to put on a spectacle like never before. They’ve allocated an astonishing sum for the G20 Summit – a cool five times more than any other nation in history! It’s like booking a private jet to buy groceries.
The Necessity Conundrum
Now, let’s address the elephant in the room – is this expenditure necessary or an extravagant overindulgence? The total cost of the G20 summit is significantly higher than the cost of previous summits. The government argues that it’s crucial for India to assert its global leadership. After all, why use a megaphone when you can buy a thousand-dollar sound system, right?
G20 Summit India: Benefits or Bust?
The government has highlighted several potential benefits of this grandiose spending spree. They claim it will enhance India’s global standing, provide a platform for diplomatic negotiations, and stimulate economic growth. Ah, the sweet smell of optimism! But skeptics argue that such resources could have been better spent addressing pressing domestic issues.
Despite the high cost, the Indian government believes that the G20 summit will be a major boost for the Indian economy. The summit is expected to attract over 10,000 delegates and guests, who will spend an estimated US$1 billion in India. The summit is also expected to generate significant media coverage, which will help to promote India as a global economic power.
Sarcasm Alert!
Now, let’s get a tad sarcastic, shall we? In a world grappling with a pandemic, climate change, and income inequality, India’s choice to spend a king’s ransom on a global get-together does raise an eyebrow or two. Who needs better healthcare, education, or infrastructure when you can have a lavish summit, right?
G20 2023 Summit Countries
The G20 summit is held every year to discuss global economic and finan
cial issues. The summit is hosted by one of the member countries on a rotating basis. The 2023 G20 summit will be held in New Delhi, India.The G20 is an international forum for the governments and central bank governors of the world’s 20 largest economies. The members of the G20 in 2023 are:
- Argentina
- Australia
- Brazil
- Canada
- China
- France
- Germany
- India
- Indonesia
- Italy
- Japan
- Republic of Korea
- Mexico
- Russia
- Saudi Arabia
- South Africa
- Turkey
- United Kingdom
- United States
- European Union
The European Union is not a country, but it is represented at the G20 by the President of the European Council and the President of the European Commission.
Conclusion
In the end, the Modi government’s extravagant spending for the G20 Summit is a bold statement, to say the least. Whether it’s a prudent investment in India’s global future or an overindulgence of monumental proportions remains to be seen. As the nation assumes its role as host, the world watches with bated breath, waiting to see if this extravagant affair will be the toast of the town or a cautionary tale of fiscal flamboyance.
It is also worth noting that the Indian government has not yet released the full cost of the G20 summit. The figure of Rs 4,100 crore is based on estimates from government sources. The actual cost could be higher or lower.
Overall, it is clear that the G20 summit in India is a costly affair. However, the Indian government believes that the summit will be a major boost for the Indian economy, and that the benefits will outweigh the costs.
In the meantime, let’s hope the attendees get some pretty swanky goodie bags to justify this grand spectacle!
