India pushes for $2 billion infrastructure loan from New Development Bank

EW DELHI: Emerging economies face new challenges such as inward looking policies and protectionism, finance minister Arun  said on Saturday as he reiterated that India remains a bright spot despite the sluggish global environment.

"But there are newer challenges, most notably a possible shift towards inward-looking policy platforms and protectionism, a sharper than expected tightening in global financial conditions that could interact with balance sheet weaknesses in parts of the Euro area and increased geopolitical tensions, including unpredictable global financial conditions that could interact with balance sheet weaknesses in parts of the Euro area and increased geopolitical tensions, including unpredictable economic policy of USA," Jaitley said in his address at the second annual meeting of theDevelopment Bank (NDB) or the BRICS bank. "India continues to grow at a robust rate. Russia and Brazil, who were in the negative growth territory in 2016, are expected to turn to positive growth in 2017 and 2018," he said. "Throughout this challenging time, India has remained a bright spot among the major economies.

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