Lagatar24 Desk
New Delhi, Oct.11: Finance Minister Nirmala Sitharaman is in the United States for a week to attend the World Bank and IMF annual meetings, as well as the meetings of G20 Finance Ministers and Central Bank Governors (FMCBG).
She is due to see US Treasury Secretary Janet Yellen on her official visit to the United States.
Union Finance Minister Smt. @nsitharaman will be attending the Annual Meetings of @IMFNews & @WorldBank, G20 FMCBG meetings, India-US Economic and Financial Dialogue, and other associated investment meetings as part of her official visit to the USA beginning from October 11, 2021 pic.twitter.com/Yh0E2JAPN9
— Ministry of Finance (@FinMinIndia) October 10, 2021
Sitharaman will address investors, notably significant pension funds and private equity firms, as part of her official tour to the United States, and ask them to participate in India’s growth storey.
India is anticipated to have the highest growth rate among the world’s main economies. According to the Economic Survey, India’s GDP could rise by 11% in the current fiscal year, which ends in March.
The annual conference of the International Monetary Fund (IMF) and the World Bank is being held in a physical format for the first time since the onset of the epidemic. For the dignitaries, however, there is also a virtual option.
She will attend the FMCBG, where the global tax agreement is expected to be ratified. The date for the meeting has been set for October 13th.
Following this agreement, India may be forced to repeal the digital services tax or the equalisation levy, as well as pledge not to enact such policies in the future.
136 countries, including India, have agreed to modify global tax laws to ensure that multinationals pay taxes at a least of 15% wherever they operate as part of a significant reform of the worldwide tax system.
According to the Organization for Economic Cooperation and Development (OECD) implementation plan announced late Friday, the accord compels governments to abolish all digital services taxes and other comparable measures, as well as commit not to establish such measures in the future.
