Finance Minister Pranab Mukherjee took a train from London to Scotland on Friday to take part in the Group of 20 meeting which is expected to sketch out a strategy to unwind the massive fiscal stimuli adopted by countries to tackle economic downturn.
The two-day meeting of finance ministers and central bankers is taking place in the backdrop of an early recovery in the world economy. It is likely to push ahead with the initiative announced in the September Pittsburgh summit to realign the world’s financial landscape and return to growth by requiring each country to write its own policies.
“I am going to share my perception what should be the exit policy in G20 Finance Ministers meeting in Scotland,” Mr. Mukherjee had said earlier.
Instead of blanket strategy for withdrawing fiscal stimulus for all nations, each country should devise their own plans depending on their economic situation, he had said.
The G20 countries is also likely to hammer out a peer review process aimed at closing damaging trade, consumption and budget gaps.
The issue of climate change is on the agenda as the developed and developing struggle to arrive at a consensus on a new agreement ahead of the environment conference next month in Copenhagen.
Mr. Mukherjee will hold a press conference in London on Sunday evening.