India's Prime Minister Narendra Modi stressed that "irresponsible" fiscal policies and populist measures may lead to political results in the short term, but they will also pay a "significant social and economic price" in the long term, stressing the need for fiscal discipline.
In response to a question about the global debt crisis, Modi noted, "The global debt crisis is of great concern to the world, especially developing countries."
In remarks ahead of the G20 summit in India, Prime Minister Modi noted, "Countries facing or going through a debt crisis are beginning to give greater importance to fiscal discipline."
Source (Al-Asharq Al-Awsat Newspaper, Edited)
