G20 Must Revive Global Growth: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman, on Friday, emphasised the need for G20 to revive global growth. The Union Minister for Finance & Corporate Affairs led the Indian delegation at G20 Finance Ministers and Central Bank Governors as well as the BRICS Finance Ministers and Central Bank Governors meetings held in Washington D.C.

Nirmala Sitharaman is leading the Indian delegation at the International Monetary Fund (IMF) annual meeting in Washington DC.

KEY HIGHLIGHTS:

• Nirmala Sitharaman is leading the Indian delegation at the IMF meeting in Washington
• Discussion at G20 Finance Meeting was about challenges to global economy
• Finance Minister Nirmala Sitharaman asked G20 nations to reevaluate the global policy and revive global growth
• “It is important for countries to take structural decisions to counter economic slowdown” Sitharaman

Nirmala Sitharaman To G20

The topic of discussions at the G20 meeting was the challenges to global economy. The meeting also debated the ways to mitigate these challenges. Nirmala Sitharam urged the G20 nations to take up their responsibility. said that it is the responsibility of the G20 nations to “navigate the global policy coordination” and take necessary steps towards “building buffers and catalyzing a second wave of reforms.”

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The G20 nations comprise of 19 countries and the European Union. Nirmala Sitharam decisively asked for a call-to-action in the face of a global economic slowdown. She stressed that the developing market economies, in particular, have to not only achieve economic growth and development but also practice sustainable financing. The Finance Minister also emphasised the importance of pursuing structural reform measures to resist the growth slowdown.

Steps Taken By India

Nirmala Sitharaman also listed out the structural reforms adopted by India recently. “We have reduced the corporate tax from 30 per cent to 22 per cent.” She also added that this makes India “one of the lowest corporate tax imposing countries in the world today. This will spur investments.”

Nirmala Sitharam decisively asked for a call-to-action in the face of a global economic slowdown. She stressed that the developing market economies, in particular, have to not only achieve economic growth and development but also practice sustainable financing.

The minister also mentioned about not only Aaadhar-based direct benefit transfer but also universal healthcare policy.

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Prapti is an intern at SheThePeople.TV