Sitharaman said the G20 New Delhi Leaders’ Declaration underscores the urgency of implementing well-calibrated macroeconomic and structural policies to bolster equitable growth and enhance macroeconomic and financial stability.
“Under the theme of strong, sustainable, balanced and inclusive growth, the declaration focuses on trade, the future of work and financial inclusion. All three are pivotal for stimulating growth,” the FM said, while inaugurating the webinar on strong, sustainable, balanced and inclusive growth.
She said since the pandemic, the global economy has been grappling with multiple crises, adversely affecting global growth. “While the recovery is underway, it remains slow and uneven. The current pace of global growth remains quite weak, well below the 3.8% average in the two decades before the pandemic and looking ahead over the medium term, growth prospects have weakened further.”
She said G20 New Delhi Leaders Declaration (NDLD), unanimously agreed to by all G20 countries, addresses some of the pressing challenges confronting the global economy and also provides policy guidance for a future, built on people-focused principles and trust-based partnerships.