Saturday, September 30, 2023
  • namastenewsline@gmail.com
Hello Namaste
Advertisement
  • Home
  • Articles
  • Business
  • Canada
  • Entertainment
  • Food
  • Global
  • Health
  • India
  • Lifestyle
  • Sports
  • Travel
Hello Namaste
No Result
View All Result
Home India

India is leading the world in terms of digital payments innovations

- Union Finance Minister Smt. Nirmala Sitharaman

October 15, 2022
in India
India is leading the world in terms of digital payments innovations
Share on FacebookShare on Twitter
Union Finance Minister attends the International Monetary and Financial Committee in Washington DC

Indian economy will stay on course and is projected to grow at 7% in FY 2022-23: FM

Government’s initiatives protect growth while pursuing inflation management, says Smt. Sitharaman

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman attended the Plenary Meeting of the International Monetary and Financial Committee (IMFC) at the International Monetary Fund Headquarters during the Annual Meetings 2022 in Washington DC, today.

 

You might also like

“It’s an absolute honor to collaborate with Air India”-Manish Malhotra

#upinternationaltradeshow : 400 buyers from 66 countries participate

गणेश चतुर्थी की हार्दिक शुभकामनाए |

The Finance Minister said that the IMFC Meeting is being held at a juncture when the global economic outlook is clouded by key downside risks-growth slowdown in major economies, cross-border effects due to the on-going geopolitical situation, inflationary pressures led by escalating food and energy prices that have adversely impacted vulnerable economies.

Despite global headwinds, Smt. Sitharaman said, Indian economy will stay on course and is projected to grow at 7% in FY 2022-23. This is an outcome of the conducive domestic policy environment and Government’s focus on key structural reforms to boost growth, She added.

The Finance Minister emphasised the initiatives the Indian Government has taken to protect growth while pursuing inflation management.  “We have ensured the availability of free food grains to more than 800 mn vulnerable families for the past 25 months, through the country’s massive public distribution network.”

Smt. Sitharaman said last mile delivery of financial services to the poor has been a key priority of the government and this has been aided by India’s digital public good infrastructure. Today, the Finance Minister added, India is leading the world in terms of digital payments innovations with our transaction cost being the lowest in the world.

“I believe the IMF needs to increase resources available for emerging and low-income countries to safeguard the global financial system. Therefore, concluding the 16th GRQ by December 15th, 2023 is vital for increasing the voting rights of emerging market economies (EMES) in line with their relative positions in the world economy,” Smt. Sitharaman said.

The Finance Minister stated that a key downside risk to global recovery is the exacerbated debt distress in many low-income countries.  It is, therefore, important that the Fund provides them necessary support to deal with balance of payments related vulnerabilities. In this context, Smt. Sitharaman welcomed Fund’s recent initiative of a new food shock window to help countries address food insecurity’.

On climate change, the Finance Minister emphasised the importance of the multilateral approach with the principles of equity; and common but differentiated responsibilities and respective capabilities. Smt. Sitharaman emphasised that India has set out an ambitious climate action path through our updated Nationally Determined Contributions which demonstrate India’s commitment at the highest level for decoupling of economic growth from greenhouse gas emissions. The Finance Minister underlined that Transfer of climate finance and low-cost climate technologies from developed to the developing countries has assumed critical significance.

The Finance Minister sought coordinated responses of the global community to help address the strategic challenges the world faces today.

Tags: debteconomyfood securitygrowthimfinflation
Previous Post

#WomensAsiaCup2022: Congratulations Champions!

Next Post

Seva Food Bank Thanks Ontario Trillium Foundation

Related Posts

“It’s an absolute honor to collaborate with Air India”-Manish Malhotra
Business

“It’s an absolute honor to collaborate with Air India”-Manish Malhotra

#upinternationaltradeshow : 400 buyers from 66 countries participate
Business

#upinternationaltradeshow : 400 buyers from 66 countries participate

गणेश चतुर्थी की हार्दिक शुभकामनाए |
India

गणेश चतुर्थी की हार्दिक शुभकामनाए |

India to participate in 48th Toronto International Film Festival
India

India to participate in 48th Toronto International Film Festival

“Sunshine moment for India,”
India

“Sunshine moment for India,”

Next Post
Seva Food Bank Thanks Ontario Trillium Foundation

Seva Food Bank Thanks Ontario Trillium Foundation

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

No city in Canada Is affordable for people under 30: Report

No city in Canada Is affordable for people under 30: Report

Tara Sutaria is making her singing debut with ‘Shaamat’ in ‘Ek Villian Returns’

Tara Sutaria is making her singing debut with ‘Shaamat’ in ‘Ek Villian Returns’

6 Ways to Improve Your Emotional Health And Maintain A Balanced Life

6 Ways to Improve Your Emotional Health And Maintain A Balanced Life

Richa Chadha’s wedding jewellery to be custom-made by 175-year-old jeweller family from Bikaner

Richa Chadha’s wedding jewellery to be custom-made by 175-year-old jeweller family from Bikaner

Categories

  • Articles
  • Business
  • Canada
  • Entertainment
  • Food
  • Global
  • Health
  • India
  • Lifestyle
  • Sports
  • Travel
  • Uncategorized

Don't miss it

Cathay Pacific announces resumption of  Chennai flights from Feb 24
Travel

Cathay Pacific announces resumption of Chennai flights from Feb 24

“It’s an absolute honor to collaborate with Air India”-Manish Malhotra
Business

“It’s an absolute honor to collaborate with Air India”-Manish Malhotra

#TravelForLiFE launched on the occasion of World Tourism Day
Lifestyle

#TravelForLiFE launched on the occasion of World Tourism Day

5 Iconic Roles of Dev Anand to Revisit on His 100th Birth anniversary
Entertainment

5 Iconic Roles of Dev Anand to Revisit on His 100th Birth anniversary

Three NFB short docs to screen at the St. John’s International Women’s Film Festival
Canada

Three NFB short docs to screen at the St. John’s International Women’s Film Festival

“WestJet and Air France: Expanding Horizons for Canadian Travelers in Europe”
Travel

“WestJet and Air France: Expanding Horizons for Canadian Travelers in Europe”

Hello Namaste

New City, New Style!
We’re pleased to announce the launch of ‘Hello-Namaste!’ in a brand new format.
This new e-magazine will be available to all our loyal readers in the summer of 2022 as complete our 10-year journey. Come, join us in our exciting, expansion plans and read all the favourite features as we sprinkle more fresh ideas for our funky, futuristic audiences!
Stay tuned and Subscribe Now!

Categories

  • Articles
  • Business
  • Canada
  • Entertainment
  • Food
  • Global
  • Health
  • India
  • Lifestyle
  • Sports
  • Travel
  • Uncategorized

Browse by Tag

artists arts Asia ayurveda bollywood book Canada celebrate children cinema culinary cultural culture dance destination diaspora entertainment europe festival film film festival films food Global Health Hello-Namaste heritage india Lifestyle movie music new york ontario paris Sports stage summer technology Toronto tourism travel women World News yoga youth

Recent News

Cathay Pacific announces resumption of  Chennai flights from Feb 24

Cathay Pacific announces resumption of Chennai flights from Feb 24

“It’s an absolute honor to collaborate with Air India”-Manish Malhotra

“It’s an absolute honor to collaborate with Air India”-Manish Malhotra

© 2022 Hello Namaste.

No Result
View All Result
  • Home
  • Articles
  • Business
  • Canada
  • Entertainment
  • Food
  • Global
  • Health
  • India
  • Lifestyle
  • Sports
  • Travel

© 2022 Hello Namaste.