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The first G20 Finance Ministers and Central Bank Governors (FMCBG) Meet that concluded in Bengaluru on Saturday, instead of issuing a communique of its resolutions, released a 'Summary and Outcome Document' after China and Russia opposed paragraphs related to the Russia-Ukraine war.Secretary Department of Economic Affairs Ajay Seth on Saturday said that the language used by India has been taken from the Bali G20 declaration and the only change is the para where the Bali declaration said that this year we have witnessed the war. "Obviously, the year has gone by. The ministers' outcome statement is talking about since February 2022, we have witnessed a war, so that is the only difference," Seth said during a media briefing by the Indian presidency's 1st G20 FMCBG Meeting in Bengaluru.The Economic Affairs Secretary said: "Both Russia and China took a position that Finance Ministers and Central bank governors, their mandate is to deal with economic and financial issues. They should not get into the global geopolitical issues. They did not comment on the language part. They said it is not their domain so they'll not comment on the language part."Seth said, "There was no demand or request to remove the word war but to just remove the paragraph itself because this is not the right place for having those paragraphs.""On the other hand, all other 18 countries felt that the war has got implication on the global economy. So, this is the right place to have those paragraphs," Seth added.Union Finance Minister Nirmala Sitharaman on Saturday said China and Russia had reservations about the G20 Bali Leaders' Declaration and added "That is why we came up with Chair Summary, not with Communique."In G20 Bali Leaders' Declaration, the members reiterated their national positions as expressed in other fora, including the UN Security Council and the UN General Assembly, which, in Resolution No. ES-11/1 dated 2 March 2022, as adopted by majority vote (141 votes for, 5 against, 35 abstentions, 12 absent) deplores in the strongest terms the aggression by the Russian Federation against Ukraine and demands its complete and unconditional withdrawal from the territory of Ukraine.During the press conference held jointly by the finance ministry and the Reserve Bank of India on the G20 Presidency and the outcome of the G20 meeting, the finance minister said, "Indian Presidency got strong support for all our priorities. I am grateful to the US Secretary Janet Yellen who had really come forward, putting her support."She also said, "I was glad to hear a lot of finance ministers praised the work of the Indian negotiating team. Each one of them came to me to say you have a fantastic team, which has gone through the negotiation process and the team leaders."She also said: "I am grateful to the US Secretary Janet Yellen who had really come forward, putting her support."( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Secretary Department Of Economic Affairs Ajay SethFOLLOW

Secretary department of economic affairs ajay seth, Latest News

International :G20 Finance Ministers' meet issues summary, not communique after China, Russia oppose paras related to Ukraine war

The first G20 Finance Ministers and Central Bank Governors (FMCBG) Meet that concluded in Bengaluru on Saturday, instead of ... ...