FM pitches for digital access empowerment

NEW DELHI: Finance Minister Nirmala Sitharaman on Friday underlined the need for going beyond GDP numbers and empowering people by improving digital connectivity in developing nations.

Addressing G7 seminar on economic policies for welfare, in Niigata, Japan, she stressed that technology improves access for the poor to markets and basic services and highlighted that access to digital connectivity has empowered people and there is a need to discuss ways to measure empowerment going beyond GDP indicators.

She underlined the dilemmas faced by Emerging Markets and Developing Economies (EMDEs) between climate security and growth as they manage overlapping crises and socio-economic transformation.

“Finance Minister Smt. @nsitharaman emphasised on the importance of #SustainableGrowth and environment and the need for balancing the two in the short and long run,” a finance ministry tweet said.

“The Union Finance Minister shared India’s focus on #technology #DigitalPublicInfrastructure #DPI #GreenHydrogen as a foundation for #sustainable and #InclusiveGrowth and as an example of innovative #PolicyToolkits by #EMDEs,” another tweet said.

Sitharaman is on a two-day visit (May 11-12) to Japan to attend G7 meeting of the finance ministers and central bank governors.

Sitharaman meets IMF MD Georgieva on sidelines of G7 meeting

The FM on Friday met International Monetary Fund (IMF) managing director K Georgieva on the sidelines of G7 Finance Minister Central Bank Governors meet. She is on a two-day visit to Japan. The G7 meeting is taking place in Niigata. Sitharaman also met Brazilian counterpart Haddad Fernando on the sidelines of the G7FMCBG meet. Fernando appreciated India’s organisation of the G20 presidency and its piloting of significant global economic issues, the finance ministry said in a tweet. The two ministers discussed issues relating to infrastructure, strengthening multilateral development banks (MDBs), debt vulnerabilities, and digital public infrastructure. Sitharaman extended her support for Brazil’s upcoming G20 presidency in 2024. The South American nation will hold the G20 presidency from December 1, 2023, to November 30, 2024.