Sitharaman participates in second virtual G20 meet, discusses global economy amid pandemic

Finance Minister Nirmala Sitharaman on Wednesday, April 15 participated in the virtual session of the second G20 Finance Ministers and Central Bank Governors (FMCBG) meeting host by Saudi Arabia. According to reports, the ministers discussed the global economic outlook amid the coronavirus crisis.

According to a release from the Ministry of Finance, Sitharaman focused upon the role of Finance Ministers and Central Bank Governors in safeguarding the lives and livelihood of people while maintaining macro-economic stability in a sustainable manner.

Along with it, the Union minister shared the measures taken by India to provide the "vulnerable sections" with timely assistance. Further, Sitharaman also stated that the monetary policy measures undertaken by the Government of India, Reserve Bank of India and other regulators have helped de-freeze the market and regularize the credit flows. 

Read: Maharashtra's COVID-19 tally surges to 2,916; overall death toll stands at 187

The Action Plan

According to the Ministry of Finance release, on the directions of the G20 leaders, an action plan has been prepared to protect the lives, safeguard jobs and incomes, restore confidence, preserve financial stability, revive growth and recover stronger, provide help to countries needing assistance, coordinate on public health and financial measures and minimise disruption to the global supply chain.

Calling the plan 'a step in the right direction', FM Nirmala Sitharaman stated that the document will guide individual and collective actions for the G20 members in responding to the COVID-19 pandemic. 

Read: 'Thank you for reaching out to the poor': Kamal Haasan hails FM Sitharaman's relief plan

COVID-19 in India 

According to the latest update of the Union Health Ministry, there are currently a total of 11,933 cases of coronavirus in the country including about 10,197 active cases. While 392 deaths have been reported overall, around 1,344 people have been cured/discharged/migrated.

Meanwhile, Prime Minister Narendra Modi on Tuesday announced the extension of the nationwide lockdown till May 3 in order to contain the spread of the deadly coronavirus. He addressed the nation on April 14 as the ongoing pan-India lockdown entered its 21st day.

Read: Punjab CM Amarinder lists requests for FM Sitharaman; seeks release of GST arrears

Read: Uttar Pradesh: COVID-19 cases surge to 727, with 11 fatalities & 55 recoveries

(With ANI Inputs)