Categories: Business

Finance minister says G-20 action plan to collective commitment to fight COVID 19

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finance minister

new Delhi. Finance Minister Nirmala Sitharaman said on Saturday that the G-20 action plan reflects the collective commitment to tackle the Kovid-19 epidemic. It should remain logical and effective in the midst of crisis. The third meeting of G20 finance ministers and central bank governors took place through video conferencing. Addressing the meeting, Sitharaman shared India's success of financial inclusion through technology from the G20. He said that funds worth $ 10 billion have been transferred 'without any physical contact' in 42 crore bank accounts. The Finance Ministry tweeted, "Sitharaman said that the G-20 action plan reflects our collective commitment to deal with Kovid-19. It needs to be maintained rationally and effectively amidst the crisis. "

On issues related to international taxation and challenges related to digital taxation, he said that it is necessary that the solution in this regard should be based on consensus and be simple and inclusive. G20 finance ministers and central bank governors in April published a plan of action for international response to combat the Kovid-19 epidemic. Under the Action Plan, members of the G-20 have committed to take healthcare, economic and financial measures. In addition to this, a strong and stable global economy, the help of needy countries, lessons from the current crisis and the provision of future preparations are also included.

Meanwhile, Reserve Bank Governor Shaktikanta Das said, "G20 Finance Ministers and Central Bank Governors attended the meeting. The meeting focused on the macroeconomy, capital flows, cross-border payments, change from LIBOR and other issues. "Finance Minister Sitharaman said in the G-20 meeting India supported people during the epidemic." Informed about the policy measures taken for India has given a massive package of $ 295 billion which is 10 percent of the country's gross domestic product (GDP). "To tackle the Corona virus crisis, the government announced a relief package of Rs 20.97 lakh crore. It is one of the largest relief packages in the world. The purpose of this package is to salvage the troubled business sector and set a roadmap for revival of the economy.

This post was published on July 19, 2020 12:13 pm

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