Need to enhance global risk monitoring, says finance minister

Should explore the scope for policy coordination, she adds

Finance Minister Nirmala Sitharaman on Saturday emphasised t he need to enhance global risk monitoring and explore the scope for policy coordination to deal with such risks.

Speaking at t he G -20 Finance Ministers and Central Bank G overnors meeting i n Riyadh, she called upon all the member countries to enhance their efforts aimed at empowering women, youth and small and medium enterprises (SMES).

“Finance Minister Smt @nsitharaman called upon the G20 to enhance global risk monitoring and explore the scope for policy coordination to deal with such global risks,” a tweet by the Ministry of Finance said.

Sitharaman was the lead speaker during the session “Enhancing Access to Opportunities for All” in the G20 Finance Ministers and Central Bank Governors Meeting on Saturday.

“Finance Minister Smt @nsitharaman emphasised that growing inequality has slowed down the pace of inter-generational mobility globally.

She pointed out t hat identifying the causes and developing solutions require coordinated policy solutions,” the ministry tweeted.

The minister also highlighted the initiatives undertaken by the Indian government for empowering women such as ‘Stand Up India’ and the STEP scheme.

She emphasised the risk and collateral free Mudra scheme for the SME segment in the meeting, the ministry said.

Sitharaman held bilateral talks with her counterparts from other countries and the Organisation for Economic Cooperation and Development officials on the sidelines of the G20 event.

She expressed empathy with the people of China, suffering from the coronavirus epidemic and extended India’s support in this hour of need, the ministry said in a tweet.