Zeebiz.com
Los Cabos, June 20: India's concern over lack of funding for infrastructure among emerging economies and austerity measures being adopted even by surplus countries were endorsed by G-20 leaders Tuesday as they concluded their two-day deliberations with a communique.
First raised at the fifth G-20 Summit in Seoul and again in Cannes, Prime Minister Manmohan Singh has been pushing for long-term access to funds for infrastructure. He also has maintained that fiscal prudence and austerity in debt-laden countries must be matched by measured fiscal expansion by surplus nations.
It was finally endorsed in seventh summit in this sea-side resort town in a document that is formally called the G-20 leaders declaration.
''Investment in infrastructure is critical for sustained economic growth, poverty reduction and job creation,'' it said, adding the recommendations made by multilateral development banks in this regard must be implemented.