The very first G20 Finance Track meeting will be held in Bengaluru.
The most anticipated G20 Finance Track’s inaugural meeting will be held in Bengaluru in the coming days. India holds the G20 Presidency this year. According to the statement of Ajay Seth, Secretary, Department of Economic Affairs, Ministry of Finance, the first G20 Finance and Central Bank Thus, the deputies’ meeting would occur in Bengaluru and would be held from December 13 to 15 December 2022.
What is the purpose of the G20?
The G20’s purpose is to coordinate member policies for sustained growth and global economic stability, which is essential for many countries. It also revolves around advanced financial laws that mitigate risk and help countries avoid future financial crises. The G20 will establish a new global financial system that will be a leading model for many emerging countries.
G20 Meeting
According to the secretary of the Department of Economic Affairs, the meeting would bring many things to light. The Finance Track meetings at one of India’s most prestigious metropolises, recognised for its high-tech sector, provide for the emerging IT sector.
The certain aim of G20 finance will be to increase the collective readiness for most of the demands and difficulties, which are particularly difficult for developing and fragile countries.
However, the chance to lead this significant global economic alliance for a whole year Thus, according to the Secretary, the G20 comes this year when India’s GDP is the largest and is expanding the fastest. There will be many advantages for development that must now be inclusive and universal. Therefore, according to Seth, who noted that the Prime Minister made this point in his speech on the development of countries at the G20 summit in Bali,
Thus, the Ministry of Finance has included this principle in the agenda for the G20 Finance Track.
Under India’s G20 Presidency, Finance Minister Nirmala Sitharaman and the Governor of the RBI Shaktikanta Das will oversee the Finance Track.
Not only this, we will strive to significantly contribute to the conversation on the state of the world’s economy through roughly 40 meetings spread out around the nation, encompassing several working groups and four ministerial-level meetings.