Prime Minister Narendra Modi is attending a session on Effective and Efficient Global Economic and Financial Governance in Hangzhou, China.Here are highlights of his speech at the session-
* G20’s efforts should be for zero tolerance for corruption and black money; zero administration, policy & treaty loopholes; zero barriers and commitment to action.
* Modi calls for breaking down the web of complex international regulations and excessive banking secrecy.
* Need energy to support development needs. Balanced mix of nuclear, renewable energy & fossil fuels are at the core of our policy.
* PM professes India’s support for BEPS recommendations and calls on countries to commit to the timeline of 2017-2018 in Hangzhou, China.
* Fighting corruption, black money & tax evasion central to effective financial governance.
* We need a regular dialogue between the IMF, regional financial arrangements and bilateral swap arrangements.
* Long delayed 15th general review of quotas must be completed by 2017 annual meet.
