India for three-fold increase in IMF equity

The total size of the IMF quotas is SDR 217 billion,in which India8217;s share is SDR 4.16 billion.

Prime Minister Manmohan Singh too had said after the G-20 Summit in London,8221;India does not need IMF funding but we have been in favour of expanding IMF resources as this will help developing countries that need assistance. It will restore confidence about emerging markets.8221;

According to sources,India,during the G-20 Sherpas Meetings preparatory meetings for the Summit,also underlined the need for an early conclusion of the IMF quota review even before 2011,in addition to endorsing a target quota increase by 200 per cent.