Washington: Union Finance Minister Smt. Nirmala Sitharaman participated in the 2nd Day of ongoing G20FMCBG meeting on the sidelines of IMF-WB Annual Meetings, in Washington DC, on Thursday, October 13.
Her interventions focused on infrastructure investments and International Taxation.
On scaling up sustainable and digital infrastructure investments, FM highlighted the need to leverage private sector participation. FM also spoke on mobilising finance at sub-national level for inclusive and quality infrastructure.
The last session of the ongoing G20FMCBG meeting saw discussions on the progress made on the agenda of International Taxation during this year. On the two-pillar solution, FM called for the participative engagement of all jurisdictions in negotiations and prioritising Capacity Building.
She also said that International Tax rules should be simple, administrable and generate meaningful revenue in developing countries.
FM Smt. Sitharaman also called for an effective tax reporting regime and information exchange between jurisdictions for CryptoAssets to combat OffshoreTax Evasion.
In her speech in closing session of G20 FMCBG meeting, Union Finance Minister Nirmala Sitharaman said that today’s global economy faces a confluence of challenges and it is our collective responsibility to prevent the risks from aggravating.
FM said that India views the hosting of the G20 Presidency as an opportunity as well as a responsibility. Rebuilding trust in multilateralism is at the core of India’s thinking.
FM Smt. Sitharaman said that India’s efforts will be to encourage conversations that recognise our inter-dependencies, our shared wisdom and our collective aspiration for a safe, peaceful and prosperous world.
News & Image Source : psuconnect.in
