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The Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman virtually chairing the 2nd Meeting of BRICS Finance Ministers and Central Bank Governors (FMCBG), in New Delhi on August 26, 2021.

Finance Minister Smt. Nirmala Sitharaman chairs 2nd BRICS Finance Ministers and Central Bank Governors Meeting

Newdelhi:26/8/21:Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman virtually chaired the second meeting of BRICS Finance Ministers and Central Bank Governors (FMCBG) along with Governor Reserve Bank of India, Shri Shaktikanta Das under Indian BRICS Chairship here today. This meeting is scheduled ahead of the BRICS Leaders’ Summit 2021 to discuss and finalise key outcomes of BRICS finance agenda this year. Finance Ministers and Central Bank Governors of Brazil, Russia, China, and South Africa were in attendance.

The Finance Minister discussed with her BRICS counterparts the key areas of intra-BRICS cooperation that would be crucial in supporting the recovery of BRICS economies and maintaining macroeconomic stability while protecting against future uncertainties and risks. Smt. Sitharaman also highlighted that BRICS has been playing and will continue to play a crucial role in dealing with crisis such as COVID-19 pandemic.

During the meeting, the FMCBGs endorsed the BRICS Finance Ministers and Central Bank Governors Statement on Global Economic Outlook and Responding to COVID-19 Crisis with an annexure on snapshot of policy experiences of BRICS in dealing with the economic impact of the pandemic. Smt. Sitharaman, as the chair, remarked that India attaches great significance to presenting this Statement before the global community since it unanimously voices the view of BRICS countries on the critical aspects underpinning current international policy conversations on post-pandemic recovery.

A “Technical Report on Social Infrastructure: Financing and Use of Digital Technologies” was also endorsed. This report is a unique exercise towards collaborative knowledge sharing between BRICS economies on social infrastructure, including on how BRICS governments have leveraged digital technologies to enhance access and improve service delivery, especially in the health and education sectors. The BRICS Finance Ministers also welcomed the conclusion of negotiations on the text of Cooperation and Mutual Administrative Assistance (CMAA) in Customs matters, along with deliberating progress made on other custom-related matters.

Governor RBI Shri Shaktikanta Das chaired the discussions on Central Bank issues and their outcomes in the meeting, which included Financial Inclusion, Contingent Reserve Arrangement (CRA), and Information Security Cooperation.

Smt. Sitharaman and Shri Das appreciated the BRICS members for their cooperation and support to the Indian Chair in preparation as well as finalisation of the significant and relevant deliverables of BRICS Finance.


About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

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