Deputy Chairman of the Plannng Commission Montek Singh Ahluwalia maintains, despite the caustic exchanges among some members, that the G20 would arrive at a deal that will signal forward movement.
He said this on the sidelines of the G20 deliberations, which is delicately poised with just hours to go before the Seoul meet concludes.
According to Ahluwaia, the "big question" is whether the Seoul deliberation will signal movement to a new form of global governance, something that was being discharged by the International Monetary Fund. He quickly clarified though that "this has to be grounded in national sovereignty", suggesting that the new governance reform would be premised on voluntary compliance.
The deputy chairman said in the context of the so called Mutual Assessment Process (MAP). This is intended to generate a mechanism to ensure a more coordinated policy response to ensure optimum outcomes and also avoid conflicting policy--this is at the center of the debate to ensure that the fragile recovery of the global economy is not jeopardised.