Varanasi to host G-20 leaders this week

Varanasi will host the G-20 leaders and representatives of the International Monetary Fund and World Bank this week to discuss the current global economic situation. Prime Minister Narendra Modi represents Varanasi in the Lok Sabha. The focus of the G-20 Framework Working Group’s (FWG) two-day meeting, beginning Tuesday, will be to frame country-specific growth policies.

“The 3rd G-20 FWG meeting under the G-20 German Presidency is being co-hosted by the Department of Economic Affairs, Ministry of Finance and Reserve Bank of India (RBI) in Varanasi on 28th and 29th (March),” a finance ministry statement said.The first two meetings under the G-20 German Presidency have already been held at Berlin in December and at Riyadh in February this year.

The G-20 FWG will discuss the current global economic situation as well as deliberate on the policy options that countries can pursue to counter important development challenges. “One important focus of this meeting will be to deliberate on the inclusive growth agenda of G-20 and to formulate a framework that will enable countries to help frame country-specific inclusive growth policies,” it read.

Since its inception in 2009, this is the fourth time that India is hosting the FWG meeting. Previously, India had hosted the meetings in Neemrana, Rajasthan, in 2012 under the Mexican Presidency. Thereafter, it was held in Goa in 2014 under the Australian Presidency. A meeting was conducted in Kerala in 2015 under the Turkish Presidency.

The G-20 is a group of 19 countries and the European Union. India along with Canada has been co-chairing this group. The G-20 FWG is one of the core working groups of G-20.