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Finance Minister Nirmala Sitharaman to Visit US

Published on April 18, 2022
Current Context: Hon. Finance Minister Nirmala Sitharam will be attending the Spring meeting of IMF, World Bank, and G20 Finance Ministers, She is also expected to hold bilateral meetings on the sidelines of these talks.
Finance Minister Nirmala Sitharaman to Visit US
  • The Board of Governors is a body of Finance ministers at both the IMF and World Bank who are the major stakeholders in taking decisions regarding the lending framework and global financial order. Thus, the Indian Finance minister is also expected to hold bilateral meetings with various counterparts, particularly Sri Lanka and Russia, as the former is facing a bailout situation.
  • India’s SDR position ranks 13th, despite being the 6th largest economy, therefore, India has been batting for having a greater share regarding SDR as her Forex reserves are all-time high at around 600 bn USD.
  • The Finance Minister will also hold meetings with the CEOs of the Semiconductor Industry as Govt of India plans to make India a semiconductor hub by investing in chip manufacturing as outlined in the budget 2022.
  • The Govt has allocated 76,000 crore rupees to National Semiconductor Mission to create a conducive environment that would promote the chip manufacturing culture in the country.


Q.1 What is the outlay of the National Semiconductor Mission of Govt of India?
a. 76,000 crore Rupees
b. 1,05,000 crore Rupees
c. 78,000 crore Rupees
d. 80,000 crore Rupees

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