Show collective commitment for revival of growth: PM to G20 Sep 6, 9:50 AM India has asked G- 20 leaders to send a clear signal of collective commitment to work together for the revival of growth, which is the only way of ensuring a sustainable growth in quality jobs. Pointing out that a stable external environment is necessary for restoring growth, it has asked for focusing especially on the need to restore robust growth in the emerging market countries, which will also contribute to global recovery. Addressing the inaugural session of G-20 Summit in St. Petersburg, Russia the Prime Minister Dr Manmohan Singh called for cautious approach by the major economies while framing unconventional monetary expansion policy to avoid the spill over effects that harm developing countries. It also advocated strengthening the Mutual Assessment Process to prevent such a situation. Prime Minister said sudden increases in cross border flows not only affect the exchange rate but also affect credit volumes and asset prices. They are leading to stock market and exchange rate volatility in emerging markets today.
Posted on: Fri, 06 Sep 2013 05:42:56 +0000
Trending Topics
Recently Viewed Topics
© 2015