Union Minister for Tribal Affairs Arjun Munda addressed the plenary session of the 1st meeting of the G20 Global Partnership for Financial Inclusion in Kolkata today.
In his address to the delegates in Kolkata, the Union Minister outlined India’s G20 Presidency vision to advance financial inclusion.
Being increasingly recognized as a key driver of economic growth, Financial inclusion is a major step towards reducing poverty and income inequality at the national level.
Reiterating the theme of ‘Vasudhaiva Kutumbakam’, which underlines the message of equitable growth and a shared future for all, the Union Minister said, India is striving to shape a new paradigm of human-centric globalization where no one will be left behind.
“India’s G20 Presidency has chosen the theme of ‘Vasudhaiv Kutumbakam’ meaning “One Earth, One Family, One Future” to convey its global aspiration,” he added.
During the address, stressing the importance of financial inclusion, a key enabler to reduce extreme poverty and boost shared prosperity, the Union Minister said, “The process of financial inclusion paves the way for currency management, which enhances the saving potential, leading to social security & ensuring quality of life. The tribal way of life encourages us to live in harmony with the nature. We need to learn a lot from them as they take permission from the trees before plucking its flowers and fruits.”
Further highlighting, Financial Inclusion as an important priority of the government and calling it a key enabler for people’s economic empowerment, the Union Minister added, “In India, Financial Inclusion has been a bedrock of our development strategy, and delivering financial services to the last mile, the poorest of the poor has been one of the key priorities of the Indian Government right from the outset.”
In his inaugural address, Union Minister Munda also emphasized the urgency to adopt a global vision for ecological safeguard or else the world will sink.
“Indians has rich, ancient sustainable traditions to nudge consumers, and in-turn markets, to adopt environmentally conscious practices. Last many years we have destroyed our earth and environment. This had adverse impact on our climate and technology,” he said.
Later, Union Minister Arjun Munda also attended the session for G20 Augmenting Digital Financial Inclusion, featuring symposiums and exhibitions on digital financial literacy involving over 1,800 students. The exhibition featured India’s exceptional progress in advancing digital financial inclusion and innovatively displayed the financial system infrastructure, emerging technologies, interactive financial literacy awareness videos, digital identification process flow for individuals, and digital innovations in financial inclusion.
