Prime Minister Narendra Modi Advocated reforms in IMF Quotas

Prime Minister Narendra Modi advocated the IMF Quotas reforms related issues in International Monetary Fund (IMF) so that they can display the global economic realities and the functioning of multi-level bodies to increase the role of India and other emerging economies.

Modi also said that the consensus of the amendment made in 2010 regarding the IMF quotas reforms are pending for a long time and finally it has come into effect but even after that IMF Quota does not reflect Global Economics Realities.

Prime Minister Narendra Modi Advocated reforms in IMF Quotas

‘Advancing Asia’ program was jointly organized by India and IMF. While addressing the convention, PM Narendra Modi Said, “Changes in Quota is not a subject of increasing powers of some countries, it is a matter of transparency and legitimacy. Believing that the nature of Quota can be change, it is necessary for the impartiality of the system”.

Narendra Modi presented six ideas that help what’s seems daunting into opportunities

Narendra Modi Started his speech by inviting the members of the convention to New Delhi, India. Then he congratulates Christine Lagarde, for serving as International Monetary Fund Managing Director, a second time. He added this reflects the confidence this world have in your understanding of the global economy and your ability to lead this institution. You played a significant role in finally persuading all members to be ready for the decisions taken in 2010.

India suggested six ideas that help what’s seems daunting into opportunities. These includes Broadening access to services like health and finance, leveraging the impact of fiscal policy, enhancing high-quality education for every girl child, increase women’s wealth and services, Investing in Infrastructure, Greater trade integration, Climate change challenge.

India is targeting universal access to banking services by 2018. Through the Pradhan mantra Jan Dhan Yojana, over 210 million have now opened the bank account Science August 2014, with social transfers paid directly.

Leveraging the impact of fiscal policy and that means targeting the social expanding on those who need it most. With the Aadhar system, India comes up with a grand breaking way to deliver targeted subsidies. In India, almost 1 billion people have aadhaar numbers.

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