Nirmala Sitharaman attends 103rd Development Committee Meeting of World Bank-IMF

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman participated in the 103rd Meeting of the Development Committee Plenary, via video conferencing. During the meeting, she shared the measures taken to combat COVID-19 including social support measures for the poor and vulnerable, and relief measures for firms in statutory and regulatory compliance matters.

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The main agenda of the conference was:

• World Bank Group (WBG) and International Monetary Fund Support for Debt Relief Under the Common Framework and Beyond;
• COVID-19 pandemic: World Bank Group Support for Fair and Affordable Access to Vaccines by Developing Countries;
• From COVID-19 Crisis Response to Resilient Recovery – Saving Lives and Livelihoods while Supporting Green, Resilient and Inclusive Development (GRID).

As a part of the meeting, Sitharaman also informed that the Government of India has announced Aatma Nirbhar Packages of Rs 27.1 trillion, which amounts to more than 13% of the GDP. These packages would provide social protection to the poor and vulnerable as well as push forward the economic reforms.

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