(LANKAPUVATH | COLOMBO) – Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman on Thursday participated virtually in the first G20 Finance Ministers and Central Bank Governors (FMCBG) meeting under the Indonesian Presidency to discuss policy actions for transformative and equitable recovery.
The meeting saw discussions on a wide range of issues including global economic risks and health challenges, policies for recovery from the CoVID-19 pandemic, international taxation, sustainable finance, and financial sector issues.
In the first session of the G20 Finance Ministers and Central Bank Governors’ meet, FM Sitharaman talked about the global economic outlook and risks including inflation, supply disruptions and new variants of the virus, and called for expeditious and equitable distribution of vaccines to aid recovery.
FM Sitharaman shared insights on India’s policy response and suggested that recovery measures be built around a long-term vision.
She emphasized addressing structural bottlenecks to reduce the pandemic’s scarring effects and build resilience.
Sitharaman also spoke about India’s policy preparedness for the pandemic and added that India’s domestic policies have been based broadly on supporting citizens through measures such as credit guarantees, direct transfers, food guarantees, economic stimulus packages, and accelerating structural reform.
She further stated that it is imperative to address the gaps in global pandemic preparedness and said that the work of the G20 Joint Finance and Health Task Force should progress in this direction.
India News Network
