Cabinet approves MoU between India and IMF

New Delhi, March 10 (IANS) The union cabinet on Thursday gave its approval to an MoU between India and the International Monetary Fund (IMF) to set up South Asia Regional Training and Technical Assistance Centre (SARTTAC), a collaborative venture to support the capacity development of the member-nations.

The cabinet also authorised the finance minister to approve related decisions in respect of India’s contribution for setting up of the centre, including Letter of Understanding for financial contribution by India, site of the SARTTAC and representative of India on the Steering Committee on SARTTAC.

The members of the collaborative venture are Bangladesh, Bhutan, India, the Maldives, Nepal and Sri Lanka. Additional member countries could join SARTTAC at a later stage.

SARTTAC will also selectively cater to the capacity building needs at the state level, especially in India.

“The MoU will help in capacity building of government officials including at the state level in macro, fiscal, monetary policies by the IMF and greater coordination between the six member countries of South Asia,” said an official statement.

“Capacity development at central and state level in fiscal and financial policies will enhance revenue mobilization and development of policies aimed at more effective public and financial management. This will result in economic development and inclusive growth in the country,” added the statement.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of or any employee thereof. is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here