India and Russia have each pledged Monday that they would give $10 billion to increase the resources of the International Monetary Fund, at a G20 summit in Los Cabos (Mexico).
Prime Minister Manmohan Singh said the amount of this contribution to his fellow heads of state and government of the group.
He also said that policies in India would be designed to create a level playing field for both domestic and foreign investors.
Manmohan Singh said that he was confident of bringing back rhythm of higher gross domestic product or GDP growth of 8 per cent to 9 per cent. He blamed ‘internal constraints’ for the poor performance and said that the government was working to correct them. “Our public is impatient for a return to higher growth and faster jobs creation,” he said.
“The global economic situation is deeply disturbing. The recovery is going to burn out and even the high-growth emerging markets slow down,” Singh said.....
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