Jaitley in the Capitol to attend IMF-World Bank meetings.
India’s finance minister Arun Jaitley held a meeting with the World Bank President Dr. Jim Yong Kim in Washington, DC, where he appreciated the support of the World Bank to the many significant achievements of India in its development process, especially in the six priority areas identified by the Prime Minster for Multilateral Development Banks’ assistance.
Jaitley, who arrived in the capitol on Wednesday to attend the IMF-World Bank annual meetings, after a visit to Canada, also indicated India’s strong support for the capital increase and its readiness to take larger share than the dynamic formula would require. He also emphasized that the World Bank should work together with the member countries to explore innovative financing solutions, according to a press release.
The Secretary General of the Commonwealth Patricia Scotland also met Jaitley, last evening. Jaitley also interacted with several US State Department officials during the reception hosted in his honor.
Shaktikanta Das, Secretary Economic Affairs, held a bilateral meeting with United States Treasury Under-Secretary, Nathan Sheets. After exchanging notes on the state of their respective economies, both sides took stock of the work done on technical cooperation on NIIF, public debt management and municipal bonds and agreed to expedite progress on these issues.
During the course of their interaction, Das also highlighted the sustained rapid growth of Indian economy and its ambitious reform agenda, including the landmark Goods and Services Tax, passage of the recent national bankruptcy law and liberalization of foreign direct investment.
Jaitley is also accompanied on the meetings by Dr. Urijit Patel, Governor, RBI, and Dr. Arvind Subramanian, Chief Economic Advisor, apart from other officials.