Today : Wednesday - Jul 30, 2014, 06:39pm (GMT+5.5)
All News  
Top News
National News
International News
Business News
Sports News
   » Cricket
   » Football
Entertainment News
Sci - Tech
Politics News
Health & Fitness
Education
Travel
Lifestyle
Gulf News
Featured
 
::| Latest News
News in Pictures

Reliance Communications has made full repayment of two loans amounting to $1 billion (around Rs 6,000 crore), during the quarter ended June 30.The repayments have been from the company's rupee resources.

Business News
 

India asks G-20 to nake 'credible and ambitious' action plan

Friday - Apr 20, 2012, 11:45am (GMT+5.5)
[+] Text [-]

Washington - India has called upon G-20 nations, the world's top economies, to work out a "credible and ambitious" action plan to put the global economy firmly on the path of  recovery as also promote strong, sustainable and balanced growth.

The proposed action plan to be adopted by the leaders of these countries at their summit in La Cabos, Mexico in June should pay greater attention to three important issues at this juncture,  Finance Minister Pranab Mukherjee said at a meeting of G-20 finance ministers here.

These were developing a framework to assess the progress made on G20 commitments, mainstreaming jobs and employment issues into the framework exercise and stepping up efforts to  support investment in the real sector, and especially in infrastructure, he said.

"This route to reviving global growth has not received the attention that it merits," Mukherjee said speaking on "Global Economy and Framework" on the sidelines of the annual World  Bank-IMF spring meetings.

"To the extent that much of this investment, including in infrastructure, will occur in developing countries, it would also help rebalance global demand, as also, redirect savings."

Noting that the world has "witnessed a great amount of economic and political turmoil over the past year", Mukherjee said while near term economic data has unexpectedly encouraging,

economic conditions overall remain weak, and unemployment at politically unacceptable levels.

Developing countries and emerging economies are expected to continue as growth drivers for the world economy, he said.

"The fact, however, is that even here growth has decelerated," Mukherjee said noting "the global economy is too interconnected for them to be insulated from the knockdown impact of

developments in advanced economies."
As far as India is concerned, despite adverse conditions prevailing in its external environment, it was reasonably confident that the underlying growth fundamentals remain firm, he said.

The Finance Minister said, "We are intent on ensuring that the process of fiscal consolidation gains further momentum, with monetary policy remaining vigilant in dealing with inflationary

pressures."

Mukherjee said he expected India's real GDP growth in 2011-12 to be around 7.0 per cent, and to gain further strength in the ensuing fiscal.

By Arun Kumar




|

Rating (Votes: )   

blog comments powered by Disqus


Related Articles:
» Kudankulam N-plant to reconnect to the grid Oct 26
» Rupee unchanged at 61.46
» Kerala Tourism takes Twitter route for campaign
» Onion prices to come down in next 10 days: Thomas
» Ratan Tata meets Sharma post FIPB nod for airline venture
» Mamata government selling onions at Rs.36 per kg
» Gold prices gaining by Rs 480 to Rs 32,410 per ten gram
» Mukesh Ambani remains richest Indian with assets of $18.9 billion
» Top 100 rich Indians' net worth rises to $250 billion
» Bharti Airtel board approves subsidiary merger
» Emirates expects to fly 70 mn passengers in 2020
» Japan's Olympus scales down India business projection
» Tewari pulls up Ludhiana officials over MGNREGA funds
» India-France trade can aid inclusive growth: Jaipal Reddy
» China to set up power equipment service centres in India
» Reduced arrival of onions behind price hike: Dikshit
» Shanta Kumar slams delay in export ban on onions
» Sri Lanka records strong tourist, remittance earnings
» Cochin airport investors set to reap profits
» Etihad Airways to double Colombo flights
» Jet Airways standalone losses jump eight-fold to Rs. 891 crore
» RBI receives $10.1 billion under forex swap window
» SBI to get Rs 2000 cr as part of Rs 14K cr banks fund infusion
» Mobile economy to add $400 billion to India GDP: GSMA
» Volvo launches next generation S60 and XC60


Other Articles:
Department of IT gets new name (20th Apr, 2012)
Customers to pay Rs.1 more on every mobile recharge above Rs.20 (20th Apr, 2012)
Qualcomm to get BWA spectrum shortly: DoT (20th Apr, 2012)
SBI flayed for shifting branch control to Jammu (20th Apr, 2012)
Habib salon chain plans international expansion (20th Apr, 2012)
RBI to notify proposal allowing airlines to access foreign funds (20th Apr, 2012)
Hindustan Times launches programme for underprivileged children (20th Apr, 2012)
Pakistan mulls NATO toll tax (20th Apr, 2012)
Banks lower interest rates taking cues from RBI policy (20th Apr, 2012)
Best Foods to tie up with hotel chains for more business (20th Apr, 2012)
GST can boost economic growth by 1.5 percent: Adi Godrej (20th Apr, 2012)
Sensex closes 111.32 points higher, auto stocks rally (20th Apr, 2012)
Chinese car multimedia maker CASKA to set up R&D centre in India (19th Apr, 2012)
Indian exports grow by 21 percent in April 2011- March 2012, claims Khullar (19th Apr, 2012)
Media reports of Johnnie Walker whiskey no longer being bottled inaccurate: Diageo (19th Apr, 2012)
Go Air in talks with European carriers for maintenance work (19th Apr, 2012)
Peninsula Hotels scouting for locations in India (19th Apr, 2012)
India surpasses $300 billion exports target (19th Apr, 2012)
TVS Logistics gets $53 million equity funding (19th Apr, 2012)
Gold prices edged up by Rs 10 to Rs 28,900 per 10 gm (19th Apr, 2012)
IndusInd Bank quarterly net profit rises 30.5 percent (19th Apr, 2012)
Volkswagen to build assembly plant in North West China (19th Apr, 2012)
Citigroup CEO Vikram Pandit’s pay package slammed by Wall Street shareholders (19th Apr, 2012)
Yahoo plans to shut down over 50 'non-core' products (19th Apr, 2012)
Big Australian dollars to lure Indian tourists (19th Apr, 2012)




Contact Us | Advertise with Us | Privacy Policy | Disclaimer | Terms of Use