The economist-politician is set to
take a leading role at the two-day summit of the G-20 coming up with solutions
to fix the financial crisis in the 17-nation Eurozone. The G-20 accounts for 80 per cent
of the global GDP. US President Barack Obama last
week in a telephone conversation with the Prime Minister said he is eagerly
looking forward to meeting him at the G-20 summit and work for the successful
completion of the parleys and evolve a coordinated response for the grouping to
find swift solutions to the Eurozone crisis.Singh has attended all the
previous six summits of the G-20 which was launched in Washington in 2008.A possibility of a pull aside
meeting between Obama and Singh is not being ruled out by Indian
officials.
Global economic woes triggered by the Eurozone crisis is threatening to affect several countries including India which has already made it clear that the European nations will have to come up with swift solutions before India is trapped in the contagion effect.Noting that G-20 is a premier group dealing with international economic cooperation, Singh and other world leaders hope to evolve a coordinated response for the grouping to deal with the Eurozone crisis and hope for positive signals from European leaders like German Chancellor Angela Merkel and French President Francois Hollande.
Ahead of the Summit, Planning Commission Deputy Chairman Montek Singh Ahluwalia said the Prime Minister's suggestion that giving priority to investment in infrastructure as a means of stimulating global growth was finding "resonance" at the G-20 meetings.Addressing issues relating to Indian economy, Ahluwalia said economic woes before the country have not gone out of hand in the wake of the slip in the GDP growth-the lowest in nearly 9 years but there could be trouble if the Eurozone crisis is not quickly contained and financial stability in Europe restored.Ahluwalia, who is the designated sherpa for India assisting Prime Minister Singh, said India will be "lucky" if it can achieve around seven per cent growth rate this fiscal.
The country's economic growth rate slipped to 5.3 per cent in the fourth quarter of 2011-12, lowest in nearly 9 years due to poor performance of the manufacturing and farm sectors.
Global economic woes triggered by the Eurozone crisis is threatening to affect several countries including India which has already made it clear that the European nations will have to come up with swift solutions before India is trapped in the contagion effect.Noting that G-20 is a premier group dealing with international economic cooperation, Singh and other world leaders hope to evolve a coordinated response for the grouping to deal with the Eurozone crisis and hope for positive signals from European leaders like German Chancellor Angela Merkel and French President Francois Hollande.
Ahead of the Summit, Planning Commission Deputy Chairman Montek Singh Ahluwalia said the Prime Minister's suggestion that giving priority to investment in infrastructure as a means of stimulating global growth was finding "resonance" at the G-20 meetings.Addressing issues relating to Indian economy, Ahluwalia said economic woes before the country have not gone out of hand in the wake of the slip in the GDP growth-the lowest in nearly 9 years but there could be trouble if the Eurozone crisis is not quickly contained and financial stability in Europe restored.Ahluwalia, who is the designated sherpa for India assisting Prime Minister Singh, said India will be "lucky" if it can achieve around seven per cent growth rate this fiscal.
The country's economic growth rate slipped to 5.3 per cent in the fourth quarter of 2011-12, lowest in nearly 9 years due to poor performance of the manufacturing and farm sectors.
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