g20 FMs Meet | Nirmala Sitharaman Highlights India's Measures To Mitigate COVID-19 Impact
Finance Minister Nirmala Sitharaman highlighted at the G20 meet that India’s special economic stimulus packages announced till date amount to 15 percent of the country’s GDP.
Nov 20, 2020 / 10:50 PM IST
Union Finance Minister Nirmala Sitharaman emphasised the need for further efforts by the G20 countries to end the COVID-19 crisis and highlighted affordability as well as the accessibility of vaccines for all as a crucial step in this direction at the G20 finance ministers' virtual meeting held on November 20.
An official statement released by the Union Finance Ministry stated: “The finance minister emphasised the need for further efforts by the G20 members to end the crisis and highlighted affordability and accessibility of vaccines for all as a crucial step in this direction.”
Sitharaman further highlighted that India’s special economic stimulus packages announced till date amount to 15 percent of the country’s GDP, and the package announced last week has a special focus on job creation.
She went on to point out that the G20 Action Plan is the mainstay of the G20’s economic response, which not only coordinates immediate response but also guides the long-term recovery efforts.
Highlighting the Debt Service Suspension Initiative as an important outcome under the G20 Saudi Arabian Presidency, Sitharaman stressed the need for collective and coordinated efforts by all G20 members to achieve the goals.
The finance ministers of the G20 countries – which is a grouping of developing and developed nations -- gathered to discuss their views on the global economic outlook and downside risks in the wake of the COVID-19 crisis.
In April 2020, G20 finance ministers and central bank governors had published an Action Plan for the international response to the novel coronavirus pandemic. The Action Plan covers healthcare, economic and fiscal responses that G20 members have agreed to undertake, as well as measures to ensure a return to a strong and sustainable global economy, the provision of support to countries in need, and the learning of lessons in preparation for future crises.
Follow our coverage of the coronavirus crisis hereWith agency inputs.