Monday, April 18, 2011

India among world's top 7 economies under G-20 scanner

The G-20 announced that International Monetary Fund (IMF) would review policies of the world's seven largest economies, including India and China, with the objective of rectifying flaws before they imperil growth.

The US, Japan, Germany, France and Britain are the other five countries that influence the global economy.

The seven countries would be examined for economically destabilizing policies, such as large -government budget deficits and debt, high personal saving rates and debt, or big trade surpluses or deficits, the G-20 club said after taking the decision at a meeting of member finance ministers and heads of their central banks.

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