G20 meet concludes with pledge for inclusive growth

VARANASI: With resolution to maintain positive momentum of global economic growth, sound coordination among major economies and formulation of policies to accelerate inclusive growth, the third G20 Framework Working Group (FWG) meet concluded in Varanasi on Wednesday.

Special secretary economic affairs Dinesh Sharma said that though there had been a positive momentum in global economic growth since recent past, challenge was to maintain the momentum and redistribution of benefits of growth effectively and equitably.

Sharma congratulated the FWG for formulating a timely agenda that focuses on growth challenges as well as on policy responses to achieve inclusive growth. Rajeswar Rao, executive director, RBI, thanked the FWG for the finalisation of the note on economic resilience that comprises guiding principles.

Thanking India for hosting the meeting, Dr Paul Samson, the Canadian Co-chair of G20 FWG, drew attention on three core areas, including the IMF work on strong, sustainable and balanced growth and G20 agenda on inclusive growth.

The G20 German Presidency representatives, including Dr Andreas Lux of German ministry of finance and Dr Felix Stefan Haupt of German Bundesbank expressed satisfaction over excellent arrangements in Varanasi for the meeting.

The opening remarks were followed by first session on ‘Global Economic Conjuncture and Outlook’ wherein countries discussed the current state of global economy.

Sixth and last session dealt with templates and timelines for 2017— Growth Strategy, submissions by G20 countries.

The Fourth G20 FWG meeting under the German Presidency will be held in Buenos Aires, Argentina. The G20 delegates watched Ganga Arti on Tuesday. Later, they watched classical Kathak Dance.

RAJESWAR RAO, EXECUTIVE DIRECTOR, RBI, THANKED THE FWG FOR THE FINALISATION OF THE NOTE ON ECONOMIC RESILIENCE