Sat, Aug 19, 2017 | updated 03:49 AM IST

Jaitley calls upon world community to focus on the coordinated policy actions, growth strategies

Updated: Oct 09, 2016 21:55 IST      
Jaitley calls upon world community to focus on the coordinated policy actions, growth strategies

Washington D.C. [United States], Oct. 9 (ANI): Stressing that since the forces of globalisation and multilateralism can go a long way in expanding global growth opportunities, Union Finance Minister Arun Jaitley on Sunday called upon the international community to focus on the coordinated policy actions and growth strategies.

He also emphasised that there is a strong case for realigning quota shares with the changed global economic realities.

While expressing India's extreme disappointment with delay in completion of the 15th General Review of Quota (GRQ) by Annual Meeting of 2017, Jaitley emphasised that the fund should strictly abide by the new deadlines set for completing the 15th Review.

Jaitley was addressing the Restricted Session of the International Monetary and Finance Committee (IMFC) and the Plenary Session of IMFC in Washington D.C. on Saturday.

IMFC is a key body providing strategic direction to the work and policies of the IMF. The events were attended by select Finance Ministers and Central Bank Governors. The closed door discussions were centred on the policy responses to prolonged period of subdued global growth, low commodity prices and negative interest rates in some large economies.

Jaitley also participated in the Plenary Meeting of the Development Committee (DC), which is the ministerial-level forum of the World Bank Group and the IMF for inter-governmental consensus building on development issues.

The meeting focused on the 'Forward Look' exercise carried-out by the World Bank and discussion on the Dynamic Formula of Shareholding of member countries in IBRD. In view of the World Bank being capital-constrained, he emphasised upon the need for re-capitalising the Bank to enable it to meet SDGs and twin goals. He also expressed hope that the World Bank would be more agile, efficient and less expensive.

While addressing the gathering at forums like the Goldman Sachs Growth Markets Conference and the FT-Citi Forum, the Finance Minister elaborated on the significant improvement in the macro-economic fundamentals of Investment and growth in the Indian economy. He also highlighted the major transformative initiatives taken by the government, which have created a positive business environment for Indian and global investments, impressive increases in FDI, $100 billion solar energy investment programme, changing 770 million incandescent and fluorescent bulbs to save 20 GW of electricity, Clean India (Swachh Bharat) Program, International Solar Alliance, Make in India, total transformation of indirect taxes regime, passage of GST Bills, bankruptcy code, etc.

The Finance Minister also held a bilateral meeting with U.K. Finance Minister Philip Hammond, which was centred on the various areas of mutual interest and cooperation.

On the sidelines of IMF/WB Annual Meetings, Secretary, Department of Economic Affairs (DEA), Ministry of Finance, Shaktikanta Das held bilateral meeting with his counterpart from Israel, during which both sides discussed the issues related to BITs, FDI and future avenues of partnership in the area of agriculture.

In particular Israel expressed keen interest in learning from India's experiences in the field of PPPs and ease of doing business.

Finance Minister Jaitley is currently on official tour to Washington D.C., the U.S., to attend the annual meetings of the International Monetary Fund (IMF) and the World Bank (WB) and other associated meetings.

He is accompanied by RBI Governor RBI Dr. Urijit Patel, Shaktikanta Das, Chief Economic Advisor (CEA) Dr. Arvind Subramanian and other officials. (ANI)

Islamabad [Pakistan], August 19 (ANI): Pakistan's Karachi city and Bangladesh's capital city Dhaka have been named among the least liveable cities of the world, a survey.

Full Story >>

Abu Dhabi [U.A.E.] August 19 (ANI): A former member of the Muslim Brotherhood has confessed that Qatar supported the banned Islamist members to destabilize the United Arab Emirates.

Full Story >>

86 ISIS insurgents killed in Afghanistan

Updated: Aug 19, 2017 02:29 IST     

Kabul [Afghanistan], August 19 (ANI): At least 86 insurgents belonging to Islamic State of Iraq and Syria (ISIS) have been killed in airstrikes and ground operations by the Afghan National Defense and Security forces.

Full Story >>

'Trump wants to cut off all military aid to Pakistan'

Updated: Aug 19, 2017 02:21 IST     

Washington D.C. [U.S.A.], August 19 (ANI): United States President Donald Trump wants to cut off all military aid to Pakistan as he thinks that the Washington is being ripped off by Islamabad.

Full Story >>

Trump's chief strategist Steve Bannon out of White House

Updated: Aug 18, 2017 23:35 IST     

Washington D.C. [U.S.A.], August 18 (ANI): Stephen Bannon, chief strategist who helped Donald Trump win the 2016 election is out of the White House, said two administration officials Friday who are familiar with the decision.

Full Story >>

Washington D.C. [USA] Aug 18 (ANI): In the wake of ISIS striking terror in Barcelona where at least 14 people have been killed, U.S. President Donald Trump has reiterated that 'Radical Islamic Terrorism' must be stopped by whatever means necessary.

Full Story >>

Turku [Finland], Aug 18 (ANI): At least, one person has died and eight others injured in a stabbing attack in the Finnish city of Turku on Friday.

Full Story >>

US amps up Cyber Command to combat cyberspace threats

Updated: Aug 18, 2017 22:48 IST     

Washington D.C. [U.S.A.], August 18 (ANI): United States President Donald Trump amped up country's Cyber Command by directing to elevate it to the status of a Unified Combatant Command, which will strengthen country's cyberspace operations and create more opportunities to improve nation's defense.

Full Story >>

New Delhi [India], August 18 (ANI): External Affairs Minister Sushma Swaraj has said that there is no report of any Indian casualty in the terror attack in Spain where 13 people have been killed and more than 100 injured after a vehicle ploughed into pedestrians at Barcelona's famed Las Ramblas boulevard tourist area.

Full Story >>

Samurai sword attack at Taipei's Presidential Office

Updated: Aug 18, 2017 15:33 IST     

Beijing [China], August18 (ANI): A samurai sword-wielding man carrying a flag of the People's Republic of China slashed a military police guard outside Taiwan's presidential office on Friday.

Full Story >>

Three people beheaded by Al-Shabaab terrorists in Kenya

Updated: Aug 18, 2017 14:20 IST     

London[U.K.], August 18 (ANI):Islamic militants have beheaded three people and burnt houses in an attack in Lamu County located in the Northern Coast of Kenya on Friday.

Full Story >>

Being [China], August 18 (ANI):Venezuelan President Nicolas Maduro has issued an order to the military to prepare to "shoulder arms," in case of a US invasion, Defense Minister Vladimir Padrino Lopez said on Thursday.

Full Story >>

Colombo [Sri Lanka], August 18 (ANI): The democracy in the Maldives has been transformed into sheer autocracy ever since the Members of Parliament of United Opposition submitted a no-confidence motion against the Speaker on July 3.

Full Story >>

Sharif, sons to defy NAB summons order

Updated: Aug 18, 2017 13:53 IST     

Lahore[Pakistan],August 18 (ANI): Former prime minister Nawaz Sharif and his two sons will show defiance by skipping the National Accountability Bureau's (NAB) investigation meeting on Friday into the Al-Azizia Steel Mills case till the Supreme Court decides on his review petition against the apex court's July 28 verdict to disqualify him from office.

Full Story >>

New Delhi [India], August 18 (ANI): In a series of tweets, Baloch leader Brahumdagh Bugti, the founder and leader (in exile) of the Baloch Republican Party, has raised an objection to extending an invitation to Pakistan's former military dictator Pervez Musharraf to participate in a talk on peace.

Full Story >>

New Delhi [India], August 18 (ANI): The Japanese Embassy in India on Friday told ANI that Japan is closely watching the Doklam stand-off between India and China and that no country should make an attempt to unilaterally change status quo by force.

Full Story >>

Sydney [Australia], August 18 (ANI): With India-China stand-off at Doklam, near the Sikkim-Tibet-Bhutan tri-junction still continuing, Chinese Australians, in their flashy supercars, organized a car rally in Sydney, Australia, to protest against India on its 71st Independence Day.

Full Story >>

Catalan government links attacks of Cambrils, Barcelona

Updated: Aug 18, 2017 11:25 IST     

Barcelona [Spain], August 18 (ANI): The Catalan government are investigating on the assumption that two other deadly events, a terrorist incident in the seaside resort town of Cambrils and a house explosion farther down the coast in Alcanar, were linked to the van attack in Barcelona carried out by the Islamic State terrorists.

Full Story >>

Pak FM seeks UN attention towards Kashmir issue

Updated: Aug 18, 2017 10:59 IST     

Lahore [Pakistan], August 18 (ANI): Pakistan's new Foreign Minister Khawaja Asif on Friday sought the UN Secretary General's attention towards the alleged human rights abuses in Kashmir.

Full Story >>

New York [U.S.A.], August 18 (ANI): Referring to the violent White supremacist rally that caused violence in Charlottesville earlier this week, American actress Elizabeth Stamatina "Tina" Fey, who graduated from the University of Virginia, said she was concerned about her alma mater.

Full Story >>