India to raise issue of global downturn in G-20 summit

In the wake of job losses in the country due to global meltdown, India today said it would ask the developed countries at the G-20 Summit not to resort to protectionist policies.

In the wake of job losses in the country due to global meltdown, India on Saturday said it would ask the developed countries at the G-20 Summit not to resort to protectionist policies.

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"Job losses in the country due to the global meltdown was a concern for the government. India would raise the issue at the G-20 summit that the developed countries should not resort to protectionist policies," Finance Minister Pranab Mukherjee said.

"We are concerned at the job losses in certain sectors with developed countries going for protectionist policies. But I am not pressing the panic button," Mukherjee told reporters in New Delhi.

On asked about the retail prices still being high even though the Wholesale Price Index has come down, he said the government had already announced three financial stimulus packages, the last on February 16.

"It will take 2-3 months for these to get reflected," the minister said.

To a query whether the job losses and other economic factors will have a role in the elections, Mukherjee said the government was concerned and these have to be addressed.