FinMin holds preparatory meet to firm up India's stand at G-20

The government on Friday held a preparatory meeting to firm up its stand for the upcoming conclave of the G-20 Finance Ministers and central bank governors in South Korea early next month.

The government on Friday held a preparatory meeting to firm up its stand for the upcoming conclave of the G-20 Finance Ministers and central bank governors in South Korea early next month.

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"It was a preparatory meeting for G-20," Finance Secretary Ashok Chawla told reporters after the meet which was attended by Reserve Bank Deputy Governor Subir Gokarn and representatives of market regulator SEBI, besides other officials.

India will be required to take a stand on contentious issues like imposition of tax on cross-border flow of capital, popularly known as Tobin tax, and revaluation of Chinese currency yuan, currently being debated among the nations.

Finance Minister Pranab Mukherjee, who could not make it to the April G-20 meeting in Washington due to engagements in Parliament, would be attending the meet this time, officials informed.

Mukherjee has been under pressure from local exporters to campaign against China's currency policy, which maintains a devalued yuan that helps its exporters.