India Budget 2023: New Delhi’s G20 presidency a ‘unique opportunity’ for nation, says Nirmala Sitharaman
India's finance minister Nirmala Sitharaman at G20 summit in Bali, Indonesia | @nsitharamanoffc
India's finance minister Nirmala Sitharaman said on Wednesday that the country's status as the chair of Group of 20 (G20) nations presents a 'unique opportunity' for New Delhi. "In these times of global challenges, India’s G20 presidency gives us a unique opportunity to strengthen India’s role in the world economic order," finance minister Nirmala Sitharaman said.
The finance minister hailed the 'right track' movement of the Indian economy. She said that the Indian economy is on the right track despite the challenges presented by Covid-19, and is "heading towards a bright future".
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Sitharaman has engaged in collaborative interaction with finance ministers and central bank governors of G20 nations in recent months. She has also engaged with multilateral institutions such as Financial Action Task Force (FATF), the United Nations Development Programme, and Organisation for Economic Cooperation and Development.
The G20 agenda this year will focus on issues such as climate financing, inclusive, equitable, and sustainable growth, energy security, and global cooperation and financing. Its Finance Track will address the critical global financial challenges and will work towards strengthening Multilateral Development Banks (MDBs).
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The Indian economy will have fast-paced growth at a rate of 7 per cent in the current financial year, Nirmala Sitharaman said triumphantly, adding that India is recognised by the world as a "bright star."
India assumed the G20 presidency at the end of 2022, putting country's diplomacy and foreign policy in a larger global spotlight. The country is actively engaging with all members of the grouping to recognise the objectives and concerns of the global south while discussing ways to build convergence in a challenging period.
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