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FM Sitharaman raises concern over declining effectiveness of global multilateral institutions at Kautilya Economic Conclave

News Point Bureau by News Point Bureau
October 20, 2023
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FM Sitharaman raises concern over declining effectiveness of global multilateral institutions at Kautilya Economic Conclave
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as the biggest instrument of bringing financial inclusion in the country. She said, these accounts played vital role in delivering money directly to the accounts of the poor during the Covid-19 pandemic.

Speaking at the Kautilya Economic Conclave 2023 in New Delhi, the Minister highlighted the importance of digitalization saying that it has brought greater transparency and empowered citizen. She said, beneficiaries are now getting the benefits of more than 50 government schemes in their bank accounts with the help of digitalization.

During her address, Minister Nirmala Sitharaman has raised concern over the role of multilateral institutions and increasing debt vulnerabilities. She said, the multilateral institutions like United Nations, World Health Organization, and World Trade Organization is today less than effective. She said, the level of effectiveness of their intervention is less than an ideal position.

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