June 18, 2012 8:07 PM

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G 20 countries to discuss plan to get economy back to reasonable growth: Montek

Planning Commission Deputy Chairman, Montek Singh Ahluwalia has said that leaders of G20 countries participating in the Las Cabos Summit, will primarily discuss an action plan to get the global economy back to some type of reasonable growth.

Mr Ahulawalia who is the chief interlocutor of the Prime Minister at the Summit, told newsmen in Los Cabos that the current economic crisis is more challenging to handle than the 2008 crisis.

Stating that the general assessment among member nations is that global economy is weak, Mr Ahulawalia hoped that the Summit will spell out its stand on what it thinks, needs to be done to address the problem.

Replying to a question, Mr Ahulwalia said that India has enough resilience to withstand the impact of the economic crisis in Euro Zone, though the developments have affected the country’s growth.

He said the country can manage itself and would not be needing any financial aid from outside. He said it was important for the G20 to provide global financial stability.

On the falling growth in India, Mr Ahluwalia said, a significant part of the slowdown can be attributed to the global downturn. He said, coupled with this, there were some domestic problems that need to be addressed.

Meanwhile, Dr Manomohan Singh would have a series of bilateral meetings on the side-lines of the G-20 Summit including his British and Canadian counterparts.

Briefing newsmen Foreign Secretary Mr Ranjan Mathai said the prime minister during his meeting with the newly elected French president Francois Hollande will seek to confirm the substantive relationship built between the two countries in the recent years

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