Ministry of Finance:
Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman attended the Plenary Meeting of the International Monetary and Financial Committee of the Board of Governors of the International Monetary Fund (IMF) at the Annual Meetings 2021 held in Washington D.C. on 14th October 2021. The meeting was attended by Governors/Alternate Governors representing 190-member countries of the IMF.
The discussions at the meeting centered on “vaccinate, calibrate and accelerate” which is the theme of the Managing Director’s Global Policy Agenda. The members of the IMFC elaborated the actions and measures taken by member countries to combat COVID-19 and facilitate economic recovery.
Finance Minister Smt. Sitharaman conveyed that India recognises that universal vaccination is the key to stemming the spread of the virus. She asserted that the stark differences in vaccination coverage of low-income countries and advanced countries is of concern and it is critical that we need to address vaccine inequity.
The Finance Minister emphasized importance of the multilateral approach with the principles of equity and common, but differentiated, responsibilities and capabilities to combat climate change. Smt. Sitharaman stressed that it is important to recognize the formidable challenges faced by developing countries in getting access to affordable financing and technology.
Before attending the IMFC Plenary meeting, Smt. Sitharaman had also participated in Restricted Breakfast Meeting of the International Monetary Fund.
My Gov India:
On the auspicious occasion of Vijayadashami & the birth anniversary of Dr APJ Abdul Kalam, PM virtually dedicates seven new defence firms carved out of the Ordnance Factory Board (OFB) to the nation and delves deeper on government’s initiative to modernise the defence sector.
On Ashtami we had the honour to launch PM Gati Shakti – a comprehensive planning network. Today, on Vijaya Dashmi, we have the honour to launch 7 Defence Companies that will further strengthen our defence manufacturing prowess
Today, as India enters 75 years of Independence, we are completing projects that were stuck for a long time. 41 Ordinance factories are being converted into 7 corporate entities, as a measure to improve our self-reliance & defence preparedness
Our ‘Make in India’ mantra is strengthening our resolve of building an Aatma Nirbhar Bharat
India’s defence sector was lacking innovation after achieving independence. However, these 7 new companies will push our efforts towards progress & self-reliance in the defence sector
The Indian government and public sector have joined hands for ‘Rashtra-Surakhsha’ that will boost India’s economy & encourage us to reach new heights
Today, we are moving towards a technology driven approach, with more transparency & trust. For the first time after independence, so many major reforms are happening in our defence sector Our aim is that Indian companies producing optical fibre, aerospace technology, scientific innovation not only flourish in the home turf and becomes a global brand
Research & innovation should be a part of your work culture
Some time ago, the Ministry of Defense had released a list of more than 100 such tactical equipment which will no longer be imported from outside
I encourage Indian startups to be a part of these companies through your innovative products, research & innovation to contribute to India’s growth with autonomy to collaborate with the government
Under the Aatma Nirbhar Bharat Abhiyaan, the country not only aims to develop a modern military industry but also make India the world’s largest military power
In the last seven years, the country has worked to carry forward the mantra of ‘Make in India’ For the first time since independence, many important reforms are taking place in our defence sector. Now a single-window system has been put in place instead of stagnant policies
Pic Credit: BJP India