on Monday The Minister for Finance and company Affairs Nirmala Sitharaman participated within the first BRICS Finance Ministers and financial institution Governors (FMCBG) meeting under the BRICS Russian Chairmanship.
As per a politician release, the agenda of the meeting included discussions on the outcomes of the G20 Saudi Presidency in 2020, a digital platform to encourage infrastructure investments and expansion of the membership of the New Development Bank.
the G20 Debt Service Suspension Initiative ensured immediate support to deal with the liquidity needs of low-income countries,” it said.
The release said that the minister of finance further noted that BRICS members have played a crucial role in ensuring that concerns of emerging economies are appropriately reflected in these initiatives.
On the continued international efforts to seek out an answer to the difficulty of taxation of the digital economy, the minister of finance said that a consensus solution will play a crucial role in ensuring fairness, equity, and sustainability of tax systems.
“The BRICS Finance Ministers and financial institution Governors also discussed expansion of the membership of the New Development Bank (NDB). The minister of finance supported the expansion of the membership of NDB and emphasised the importance of regional balance.
