India has announced an additional 10 billion dollars contribution to IMF finances to help tackle the debt crisis in Eurozone and protect the faltering world economy. Prime Minister Dr Manmohan Singh made this announcement in his address at the plenary session of the G 20 Summit in Los Cabos this afternoon. Dr Singh said, the IMF has a critical supportive role to play in stabilizing the Eurozone and all member nations must help the agency to play the role of a stabilizer. Describing the global economic situation as deeply worrying, Dr Singh said, the sovereign debt and banking crisis in Eurozone has grave implications for the health of the entire global economy.Voicing serious concern on the faltering economic recovery and slowdown in growing emerging economies, Prime Minister said, the G 20 Summit needs to send a strong signal to the markets that the Eurozone countries will make every effort to protect the banking systems and global community will back a credible Eurozone effort and response. Noting that developed countries have expanded the resources of the IMF enormously, largely to support programmes in rich countries, Dr Manmohan Singh said that steps are now needed to be taken to substantially expand the resource base of Multilateral Development banks so that they have the finances to help developing countries pursue their development goals.On the contentious issue of the relationship between austerity and growth, Dr Singh pointed out that financial markets are beginning to realize that austerity with no growth will not produce a return to a sustainable debt position. Dwelling at length on the slowdown in the Indian Economy, the Prime Minister asserted that the fundamentals of the Indian Economy remain strong and said the government is confident of bringing back the rhythm of high growth of 8 to 9 per cent per annum.Dr Manmohan Singh said, steps are being taken to revive investor sentiment and the government is determined to create an environment that would boost investor sentiment and promote an atmosphere conducive to enterprise and creativity Addressing some critical issues relating to the Indian economy, the Prime Minister categorically stated that some tough decisions on controlling subsidies will be taken to contain fiscal deficit.Earlier hosting an informal meeting of leaders of BRICS countries, Prime Minister Dr Manmohan Singh said, all leading economies need to come together and find a comprehensive solution to revive the economy. Our Correspondent covering the Summit, reports that leaders of the BRICS including India, China, Russia, Brazil and South Africa have committed to contribute 73 billion US dollars to IMF to meet the exigencies arising out of Euro crisis.On the sidelines of the Summit, Dr Manmohan Singh had talks with Mexican President Felipe Calderon and German Chancellor Angela Merkel.