WASHINGTON: Finance Minister Nirmala Sitharaman said that G20 is necessary to regain the pace of global growth. “Borrowed resources cannot provide full confidence in extreme crisis situations as creditor nations themselves may be in stress,” Nirmala Sitharaman added while speaking in the G20 Finance Ministers and Central Bank Governors meeting held in Washington.
 
The Minister also said that coordinating the global policy in effective fashion is the need of the situation, and identifying and taking strong measures for building buffers and catalysing the second wave of reforms is important.
 
The focus of the meeting was on the current challenges to the global economy and possible responses to mitigate them. Highlighting the structural reforms in India such as the reduction of Corporate tax, the Finance Minister emphasised the importance of structural reforms to regain the growth of emerging economies. She also said that EMs face the challenge of achieving economic growth and inclusive development while pursuing sustainable financing.

Source: dst.news