G20-IMF 2

Ahluwalia said the IMF reforms of six per cent shift
in quota have helped India and China to some extent.
With eighth largest quota India gets much more in the
quota share and China is the third largest beneficiary after
India.
Strictly speaking, at present the IMF Board has 20
members and the decision has been approved by a number of
countries. About 15 more, however, have to approve it.
India moving to the eighth position is an assured
outcome.
"We will not not get marginalised. Our vote is more.
Ultimately these organisations go by consensus on ultimately
how you are respected and what alliances you make," he said.
On current account deficit induced by excessive
financial flows from abroad, Ahluwalia said a three per cent
level of CAD is "not not too high at all" this year or the
next year.
"I am quite comfortable with three per cent deficit.
55 billion dollars inflow is ok. Another USD 20 billion
dollars is also ok. If it goes upto 100 billion dollars and if
you ask me are you going to say the rupee should be
appreciated, I will say no. The rupee will reflect volatility
and temporary eruption," he said. (More) PTI