Greece's politicians seal a deal to form a coalition govt

Prime Minister George Papandreou crucially agreed to step down removing a key stumbling block which had held up an accord just hours before nervous financial markets reopen today with the euro in the line of fire.

"An agreement was reached to form a new government to immediately lead the country to elections after ratifying the decisions taken by the European Council," the Greek president's office said in a statement.

After a closed-doors meeting between Papandreou, opposition chief Antonis Samaras and head of state President Carolos Papoulias that lasted almost two hours, the statement was passed around to a waiting scrum of reporters from around the world, causing a near-stampede.

"Prime Minister George Papandreou has already stated that he will not lead the new government," it added.

"Tomorrow there will be a new communication between the prime minister and the head of the opposition on the new prime minister and the new government."

With patience in Europe and in Greece wearing thin, pressure had mounted throughout the day for an agreement that Papandreou had said was needed to keep Greece in the eurozone.

European leaders had become increasingly frustrated at the political impasse in Athens at a time when they want to press ahead with hard-won agreements reached in late October on tackling the eurozone debt crisis.

The accord comes just ahead of a key Eurogroup finance ministers meeting today to discuss whether to release an eight billion euro (USD 11 billion) slice of bailout cash that Greek Finance Minister Evangelos Venizelos says is needed by 15^th December to keep the country afloat.

There will likely be no let-up too in the pressure on Athens to implement stinging austerity measures in return for the cash payment, available under the first May 2010 Greek bailout package.

Brathwaite, Chaderpaul steady West Indies innings at tea

Opener Kraigg Brathwaite and Shivnarine Chanderpaul frustrated the Indian bowlers with contrasting unbeaten half-centuries as West Indies took tea at 159 for three on day one of the first cricket Test against India in New Delhi on Sunday. 

Brathwaite was batting on 61 off 196 deliveries, while giving him company was the experienced Chanderpaul on 55 off 88, as West Indies added 90 runs for the loss of one wicket in the 32 overs bowled after lunch following skipper Darren Sammy's decision to bat first.

The 18-year-old Barbadian's dogged resistance, during which he found the fence thrice, was very crucial from the West Indies' point of view as India's spin duo of Prgyan Ojha and debutant Ravichandran Ashwin at one stage threatened to run through their middle-order on a Ferozeshah Kotla pitch that seems to have something for the spinners.

After Ojha's double blow in the first session, which saw him remove opener Kieran Powell and Kirk Edwards, Ashwin bowled Darren Bravo right after the lunch break to put the visitors under pressure.

But Brathwaite, along with Chanderpaul, stitched together a handy 87-run partnership for the fourth wicket to steady the West Indian ship.

Even as Brathwaite got his runs with nudges and steers through the third-man region, Chanderpaul looked intent on attacking the bowlers, especially the spinners, against whom he was not afraid to go down the wicket.

After dispatching Umesh Yadav, the second debutant in the Indian team, for two sweetly-timed boundaries, Chanderpaul took Ashwin to the task, cutting him through point for another four.

Moments later, the veteran of 135 Tests with nearly 9500 runs, used his feet against Ashwin to loft the off-spinner over long-on for the maximum.

Brathwaite, meanwhile, got to his fifty, his second in this form of the game, with a push to mid-on. Chanderpaul followed suit soon after, to bring up his 57th half-century.

While the morning session proved to be fruitful for the spinners, especially Ojha, the scenario changed after lunch.

While there was turn in the wicket, it was too slow to create problems for the batsmen.

Even as Ojha and Ashwin shouldered the bulk of the responsibility, bowling 20 overs each, skipper Mahendra Singh Dhoni also tried Virender Sehwag and Yuvraj Singh.

Earlier, Ojha had struck twice as India enjoyed the upperhand in the first session, leaving the visitors at 69 for two at lunch.

Left-arm spinner Ojha, playing Test cricket after almost a year since New Zealand's tour of India, had Powell trapped in front with big turning delivery in his second over, and the innings' 12th.

Ojha then had Edwards, on a high after slamming a century and a fifty in his last Test, against Bangladesh, caught and bowled with the one that stopped at the batsman.

The right-hander pressed forward, looking for the drive but was a touch early into the shot.

The spinner, in the process, made amends for dropping a sitter off his own bowling, the batsmen being Powell, in his first over, with the scoreboard reading 25 for no loss.

The goof-up, however, didn't matter much as Powell could not add a run to the total.

On a pitch that hardly offered any assistance to the quick bowlers, both Ishant Sharma and debutant Yadav, who was preferred over Varun Aaron, struggled to create an impression.

Prez, PM and Sonia condoles Hazarika's death

President Pratibha Patil, PM Manmohan Singh and UPA chairperson Sonia Gandhi on Saturday joined countless admirers of legendary singer-composer Bhupen Hazarika in condoling his death, saying the passing away of one of the most gifted artist had left a void which will never be filled. 

"A creative genius whose deep baritone voice was instantly recognised by poetry and music lovers across the nation. His use of folk music with a touch of contemporary made his composition unique in its own way," Patil said.

Singh in his condolence message said, "It is with great sorrow that I learnt of the passing away of Dr Bhupen Hazarika... On this sad occasion, I offer my deepest condolences to the family, friends and countless admirers of Dr Hazarika."

In Hazarika's "sad demise, India has lost one of its most gifted artists", he said.

Paying tributes to Hazarika, Singh said his "extraordinary talent" encompassed not only music and literature but also cinema acting and direction.

"His contribution greatly enriched our cultural landscape and his influence on Assamese art and culture was particularly profound," the Prime Minister said.

"The reverence with which Dr Hazarika was looked upto and the innumerable awards that he received are a tribute to his dazzling brilliance and creativity, and his love for the people," he said.

Singh said "the void that Dr Hazarika's passing away has caused will never be filled."

Ansari too condoled the death of the legendary singer.

Information and Broadcasting Minister Ambika Soni described legendary singer Bhupen Hazarika, as a "multifaceted" personality and a true exponent of national integration.

In her condolence message the minister said Hazarika pioneered the vision of Assamese cinema on the global map.

Nine accused in Malegaon blast case get bail

Nine accused in the 2006 Malegaon bomb blast case on Saturday got bail as National Investigation Agency (NIA) chose not to oppose their plea for liberty.

Designated Judge Y D Shinde of Maharashtra Control of Organised Crime Act (MCOCA) granted them bail on a surety of Rs 50,000 each.

The court also asked the accused to report to local police station once in a week.

The nine accused who got bail are Salman Farsi, Shabir Ahmed, Noorulhuda Doha, Rais Ahmed, Mohammed Ali, Asif Khan, Javed Sheikh, Faroogue Ansari and Abrar Ahmed.

Of them, Asif Khan and Mohammed Ali will not be released as they are also held in 2006 Mumbai train serial blast case.

The rest would get out of jail after completing formalities on November 8, said defence lawyer Jaleel Ansari.

NIA contended that after the confession of Swami Aseemanand, arrested for the 2007 Mecca Masjid bomb blast case, about the alleged involvement of a right wing group in the Malegaon blast, it reviewed the evidence collected by previous investigating agencies ATS, Maharashtra, and CBI besides gathering some fresh evidence.

"After due deliberations, a decision was taken on the basis of facts and circumstances not to oppose the bail plea of all the nine accused," NIA said.

However, NIA said it would not admit any contention of the accused in the bail petitions so far as they relate to the charge sheet filed by previous investigating agencies, so also "the facts and circumstances which came to light during the investigation by NIA if they are also traversed by the accused," it said.

The defence lawyer argued that from the confession of Swami Aseemanand, it was clear that those responsible for the 2006 Malegaon blasts are far removed from the current accused.

The nine accused pleaded that they have been in jail for the past four years and "there is no direct evidence of their involvement in the said offence and it was only based on the forcibly-taken confession statement".

The 2006 blasts in Malegaon, which killed 37 people and injured over 100, had occurred near Hamidia mosque in the Bada Kabristan area on September 8, 2006, after Shab-e-Barat prayers.

Mamta's objections on petrol price hike would be resolved: Pranab

Union Finance Minister Pranab Mukherjee has again clarified that petroleum prices have been decontrolled and the govt has no role in deciding its price. 

"The issue will be sorted out soon with allies. We would talk to the PM and the issue will be resolved," Mukherjee told reporters.

Congress spokesman Abhishek Singhvi said a solution to the issue would be found out after a meeting with the allies.

"It is perfectly legitimate for any political party which is a constituent of UPA to express concern on any issue and to discuss it with the Prime Minister. They have done exactly that," Mukherjee said.

Trinamool is UPA's second largest ally.

On TC chief stating yesterday that the matter would be taken up with the Prime Minister after his return from abroad, Mukherjee said, "They will take up some of their concerns with the PM. I don't find anything wrong with it."

Singh returned to the Capital this morning.

Without making any reference to Trinamool's allegation that the party was not consulted before the price hike, Mukherjee said, "There is an EGoM. It consists of the representatives of all political parties which have a member in the Union Cabinet. Our partners in the coalition are members."

Stating that the UPA government has taken note of the protests by various political parties, Mukherjee said, "Naturally, when price is hiked and if it hits the people, the people will react. They don't like to listen to economic reasons".

Oppn attacks UPA on petrol price rise

The opposition lashed out at the UPA govt for raising petrol prices with BJP attributing it to the Govt's mismanagement and the Left parties asking all their state units to launch nationwide protests.

Chief Ministers of two non-Congress ruled states ridiculed the Congress-led UPA government's 'Aam Aadmi' slogan and said the petrol price rise has exposed the anti-poor face of the Congress party which claims to be the votary of common man.

"Their's is a mismanagement of a different kind. International crude prices are not going up in the manner in which our (fuel) prices here are going up," BJP leader L K Advani told reporters in Pune on Friday.

Noting that petrol price rise was a major factor responsible for fuelling prices of essential commodities, the Left parties asked all their state units to launch nationwide protests.

"The hoax of the pricing according to the market has been exposed as international oil prices have fallen considerably in the recent period," CPI(M) Politburo said in a statement on Friday, adding the Congress-led coalition has once again displayed its shocking callousness at the plight of the people.

The CPI Secretariat also condemned the petrol price hike, terming it as "unjustified" and said the prices of essential commodities were already high.

Strongly opposing the hike, CPI general secretary A B Bardhan said, "It is yet another live example of anti-people policy pursued by the UPA government."

CPI leader D Raja said the hike was a big blow to "aam aadmi" at a time when food inflation had reached double digit.

The Left parties as well as CPI(M)-affiliate CITU called upon their units to go for protest actions on the issue on Saturday to demand roll back, reverting the decision to de-control fuel prices and banning forward trading in all essential commodities.

Trinamool threatens walkout of UPA; to discuss with PM

UPA govt’s largest ally Trinamool Congress has threatened to pull out over the petrol price hike, as it sought an appointment with PM Manmohan Singh before taking any vital decision.

"Our withdrawal of support may result in fall of the government. But since the Prime Minister is away, we want to discuss with him and have sought an appointment with him," Trinamool Congress chairperson Mamata Banerjee told reporters at the state secretariat in Kolkata on Friday.

"Discussions are required before a vital decision is to be taken," she said after her party's parliamentary wing submitted a resolution to her calling for pull out from the UPA.

Banerjee, in the first-ever attack on the Congress since the formation of the UPA-II government in 2009, said her party would seek an appointment with the Prime Minister sometime between 8^th and 10^th November according to his convenience after he returns from abroad.

It was unacceptable that such a crucial decision on petrol price hike had been taken in the absence of the Prime Minister, she said.

Banerjee said an emergency meeting of the Trinamool Congress parliamentary party was in favour of quitting the UPA for the unilateral decisions of major ally Congress, without consulting allies and keeping them in the dark, she said.

Pointing out that Congress was dependant on support of allies like the Trinamool Congress, NCP and DMK to run the UPA government, she said, "But we are not dependant on Congress."

"They (Congress) may be a big party, and we may be smaller parties. But they do not have the majority of their own at the Centre. They are dependant on the support of the allies for survival," Banerjee said.

While maintaining that she was not trying to blackmail the government, the Trinamool chief said the rise in fuel prices so frequently was "unacceptable".

“We want the government to run for five years. We follow the coalition dharma. This was our commitment when the government was formed. We are not trying to blackmail the government.”

"In West Bengal, we are in power with two-thirds majority and we are not dependant on Congress to run the government. We can run the government in this state on our own even if Congress is not with us, but we take the partner in confidence in the policy decisions of the government," she said.

"I want to appeal to the Centre to please take care of the people. Eleven times price rise of petrol and petroleum products in 12 months is unacceptable. Price hike may not affect the Central government, but it affects us in the states...We have a commitment to the people and we will never compromise on the question of imposing economic hardship on the masses," she asserted.

Banerjee, who till recently was the railway minister before being elected to state Assembly, said, "I am grateful to my parliamentary party that they have taken this bold decision (to quit UPA)."

She said she held discussions with Union Commerce minister Anand Sharma during the day.

"I have spoken to Union minister Jairam Ramesh following the latest hike in petrol price. My party colleague Mukul Roy last night also contacted Union Finance minister Pranab Mukherjee who pleaded helplessness in the matter."

Banerjee said she had informed the Union Commerce Minister that any vital decision in absence of the Prime Minister should not have been taken by the Centre.

The chief minister, who had earlier sought a special economic package to bail out the fund-starved state, hit out at the Centre for stopping coal supply to power plants on the ground of non-payment of dues.

Anand Sharma to convey Mamata's concern to PM, Sonia

Responding to West Bengal Chief Minister Mamata Banerjee's concern over frequent petrol price hikes, Union Commerce and Industry Minister Anand Sharma has said he would convey this to Prime Minister Manmohan Singh and UPA chairperson Sonia Gandhi.

"Mamataji has expressed her concern frankly. We are partners in a coalition government at the Centre. So I must convey her concern to the Prime Minister and UPA chairperson Sonia Gandhi," Sharma told reporters at the state secretariat after meeting Banerjee and interacting with a group of industrialists in Kolkata on Friday.

"However, we have to think of the greater interest for the country," Sharma observed.

Following the latest hike in petrol price UPA's largest ally Trinamool Congress has threatened to pull out of the coalition.

India's financial sector priorities to remain unchanged: PM

Against the backdrop of the battle against the sovereign debt crisis in the Eurozone, PM Manmohan Singh has said there will be no change in India's financial sector priorities to sustain high rates of economic growth.

"Financial inclusion, provision of long-term funding instruments for infrastructure, the development of liquid bond markets to improve monetary policy transmission, among others, were financial sector priorities in India before the crisis," Singh said in his intervention at the Summit of world's leading 20 economies at Cannes on Thursday.

"Nothing has happened in Indian financial markets or globally that warrants changing these priorities. We need to be sure that the regulatory reforms being introduced globally will not hamper this process," he added.

India's concerns were different, Singh said, adding, "the banking capital needs to be strengthened in India, this is not on account of higher risks but because credit is projected to expand at a very fast pace to feed the high real growth that we expect".

Pointing out that tax payers and equity holders in case of the Indian PSU banking sector are the same, he said, "In this environment it is difficult to see why a financial sector tax, which would only raise the cost of capital even further, would be appropriate."

As regards the Indian economy, Singh said, "our economy has slowed down in the current year and GDP growth is likely to be between 7.6 and 8 per cent...We in India are taking steps to ensure a return to high growth.

"We hope to go back to higher growth in 2012-13, together with a moderation in inflation", he added.

"Our medium term strategy focuses on a revival of investment especially in infrastructure, and continuing efforts to reduce our fiscal deficit through improved revenue collection which is expected to come from tax reforms," Singh said.

The Prime Minister also warned that "prolonged" uncertainty and instability in Europe will hurt other countries too and suggested that the IMF can help rescue the situation.

Observing that everyone has a stake in the orderly functioning and prosperity of Europe, including the Eurozone countries, Singh said, "prolonged uncertainty and instability in the Eurozone countries can hurt us all. In an increasingly integrated world, all of us have a stake in the orderly functioning and prosperity of Europe."

G-20 leaders mulling boost in IMF funding: Britain

World leaders meeting at the G20 summit on Thursday discussed boosting their funding of the International Monetary Fund to help resolve the eurozone debt crisis, Britain's finance minister said.

George Osborne said countries such as the China were interested in the proposals, which have been pushed heavily by British Prime Minister David Cameron, but he refused to put a figure on the increase.

"The international community has also accepted that it needs to address the general global economic situation and there is a debate that has begun, but not concluded, about increasing resources to the IMF," Osborne told reporters.

"There are certainly no numbers yet and I suspect that those discussions will not conclude until tomorrow," he said, summarising day one of the G20 summit in the southern French resort of Cannes.

Britain's government has been floating the idea of an increase in funding for the IMF partly as a way of helping the eurozone without contributing to a direct bailout, which would be politically damaging at home.

Asked if there was international support at the meetings, Osborne said it had been under discussion by G20 nations since the start of October.

"I've not heard anyone object to the suggestion that we increase the resources of the IMF. Individual contributions to that increase have yet to be discussed so I can't give you a number," he said.

"But certainly from what I've heard of the Chinese, and I've had my own discussions with the Chinese here as well, they too are intersted in providing support to the IMF." Cameron said earlier Thursday that Britain would consider boosting its 29 billion (34 billion euros, USD 46 billion) funding for the IMF.

Greece govt on the brink of collapse

The Greek government teetered on the brink of collapse on Thursday over plans for a referendum on a euro zone bailout with turmoil in the ruling party casting grave doubt on whether Prime Minister George Papandreou  can survive a confidence vote.

Conservative opposition leader Antonis Samaras demanded that a transitional government be formed immediately to run the country until snap elections, with the current parliament ratifying the financial rescue for debt-choked Greece.

State television and the state ANA news agency said that Papandreou would meet the Greek president after an emergency cabinet session on Thursday, without giving further details.

Papandreou would have to submit his resignation or a request for a unity government to President Karolos Papoulias.

Papandreou's chief of staff denied the prime minister intended to resign although sources within his PASOK socialist party said some senior lawmakers wanted a Greek former top official at the European Central Bank to head a new government.

"I don't think the government will last until tonight," said Costas Panagopoulos, managing director of pollsters ALCO.

Papandreou's surprise decision to call a referendum on the 130 billion euro bailout to save Greece  from bankruptcy and prevent a global financial crisis provoked an uproar at home and across the euro zone.

Rejection of the package, which includes yet more austerity measures for the long suffering Greek electorate, would unravel the euro zone's plan for tackling its wider debt crisis, and cut off Greece's international financial lifeline.

Finance Minister Evangelos Venizelos broke ranks with Papandreou, coming out against holding the referendum after a bruising meeting with the German and French leaders, who made clear that Greece would not receive a cent more in aid until it votes to meet its commitments to the euro zone.

2G case: Court dismisses bail pleas of Kanimozhi, 7 others

In a setback to DMK MP Kanimozhi and seven others, a Delhi court on Thursday dismissed their bail pleas in the 2G spectrum allocation case.

Special Judge O P Saini dismissed the bail pleas, including that of former Telecom Secretary Siddharth Behura, saying the charges levelled against them were of "very serious nature."

The others whose bail petitions were dismissed were former Telecom Minister A Raja's erstwhile Private Secretary R K Chandolia, Swan Telecom promoter Shahid Usman Balwa, Kalaignar TV MD Sharad Kumar, Kusegaon Fruits & Vegetables directors Asif Balwa and Rajiv Agarwal and Bollywood filmmaker Karim Morani.

"The facts of the case as well as the charges levelled against the accused are of very serious nature having grave implications for the economy of the country," the court said.

"I am satisfied that no case for bail is made out for any of the applicants/accused," it said.

While dismissing the bail application of Kanimozhi, daughter of former Tamil Nadu Chief Minister M Karunanidhi, the court said, "By no stretch of imagination she can be said to be suffering from any discrimination on ground of being a woman."

Brushing aside Kanimozhi's plea for bail under Section 437 of the Criminal Procedure Code on grounds of being a woman, the court said, "Accused Kanimozhi Karunanithi belongs to upper echelons of society and is also a Member of Parliament. By no stretch of imagination, she can be said to be suffering from any discrimination on the ground of being a woman."  

Special Judge Saini dismissed her bail application, along with those of four others--Sharad Kumar, Morani, Asif Balwa and Rajiv Agarwal-- even though CBI had no objection to their release on the ground that they face trial for offences, entailing a maximum jail term of only five years, if convicted.

The court rejected CBI's stand saying, "There is no distinction between the accused charged on the basis of main charge sheet and supplementary charge sheet. There is only one charge sheet in the eyes of law."

The court also dismissed the pleas of various accused for bail on the ground that they had been languishing in jail for over five to nine months, while the trial was unlikely to conclude in near future.

"It is repeatedly submitted that these reasons make out good ground for bail to the accused. I have bestowed my careful and anxious consideration to these submissions. In the facts and circumstances of a particular case, these factors may be relevant consideration but in some cases it may not be so," Saini said.

The court said after framing of charges under "a more serious" section of 409 IPC (criminal breach of trust) which carries life imprisonment as maximum punishment, "there is no favourable change in the case of the accused."

Rejecting the bail petitions of various 2G case accused, the court said after framing of charges, the legal situation for them has only worsened.

"I find that after framing of charges, the case has crystallized against the accused persons in clear terms, though prime facie and as such, it has moved to a higher pedestal that is, from the stage of suspicion or grave suspicion, it has reached the higher stage of prima facie acceptability.

"Furthermore, a more serious section of 409 IPC has been added which is punishable with imprisonment for life or with imprisonment of either description from a term which may extend to ten years," the judge said.

Elaborating upon the legalities as to why CBI's willingness for bail to five accused, charged with offences carrying up to five years in jail, cannot be accepted, the court said they have been charged with offences of abetment and conspiracy, which carry as much punishment as the main offence.

"Criminal conspiracy is an independent offence and is required to be punished separately. Sections 109 (abetment) and 120 B (criminal conspiracy) IPC do not make any distinction between abettors, conspirators and actual participants in a criminal transaction. As such, I do not find any ground to distinguish the case of these five applicants/ accused from the case of remaining accused," the court said.

"Even otherwise, all 17 accused, including the five applicants, have been charged with section 120 B (criminal conspiracy) read with 420 (cheating), 409 (criminal breach of trust by public servant), 468 (forgery), 471 (faking documents), 193 (tendering false evidence in court) of IPC read with Section 7 or in the alternative Sections 11, 12 and 13(2) read with 13(1)(d) of Prevention of Corruption Act," he said.

PM seeks a strong, coordinated approach from top 20 economies

Prime Minister Manmohan Singh has expected the Summit of world's 20 leading economies (G20) to signal a "strong and coordinated approach" to put the global economy back on track, while addressing medium term structural issues. 

Prime Minister Manmohan Singh today said difficult decisions were needed swiftly to address the crisis in Eurozone and elsewhere.

In a statement before departure attending the G-20 summit in Cannes in France, he said the twin summits of the European Union and Eurozone a few days ago have helped to restore a measure of confidence in the markets but much more needs to be done.

"It is imperative that the difficult decisions needed to address the economic challenges in Europe and elsewhere are taken swiftly," Singh said.

He said the Eurozone is a historic project.

"India would like the Eurozone to prosper because in Europe's prosperity lies our own prosperity," he said.

The Prime Minister noted that the Cannes Summit takes place against the backdrop of the sovereign debt crisis in the Eurozone and the crisis has emerged as the principal source of concern for the global economy.

Dr. Singh also underscored the need for swiftly taking the difficult decisions to address the economic challenges in Europe and elsewhere against the backdrop of the sovereign debt crisis in Eurozone.

"It is important for the Cannes Summit to signal a strong and coordinated approach to put the global economy back on track, while addressing medium term structural issues," he said in a departure statement before leaving for the two-day Cannes Summit in French Riviera starting on Thursday.

The Prime Minister said much more needs to be done to combat the debt crisis despite measure of confidence being restored in the market after the twin summits of the European Union and Eurozone a few days ago.

Noting that the Eurozone is a historic project, he said, "India would like the Eurozone to prosper, because in Europes prosperity lies our own prosperity".

Developing economies such as India need a conducive global economic environment to address the vast challenges they face, he said.

"In an increasingly interdependent world, we have to be wary of contagion effects and the import of inflationary pressures in our economy. We need to ensure that developing countries have access to requisite funds through multilateral development banks and to investible surpluses to meet their infrastructure and other priority needs," Dr. Singh said.

The issue of global governance will also come up for discussion during the G20 meet.

"This is an issue of importance to India, and we will work with others to develop effective and representative global governance mechanisms and carry forward the process of reform of the international monetary and financial system," he said.

During his visit, the Prime Minister will hold a bilateral meeting with French President Nicholas Sarkozy.

He would be also meeting British Prime Minister David Cameron, Australian Premier Julia Gillard as also EU leaders Herman Van Rompuy and Jose Manuel Barroso.

Dr. Singh, who will be at the G20 summit for the sixth consecutive time since it was first hosted by the US in 2008, is also likely to push through India's agenda for voluntary exchange of tax information to curb black money. Singh is due to return home on Saturday night.

The Summit will be dominated by efforts by European leaders to resolve the sovereign debt crisis after the 17-nation Eurozone sealed a deal last month critical for global economic recovery.

A report from Athens said Greece has plunged the Eurozone back into crisis with a call for a referendum on a debt rescue package reached just days ago with difficulties.

The Summit hosted by Sarkozy is expected to seek commitments from all G20 members on growth and on re-balancing public finances.

US President Barack Obama, Cameron and Chinese President Hu Jintao will be among the world leaders at the critical summit.

Dr. Singh is expected to urge the G20 to take the necessary steps to address current economic instability and to take concrete steps to put open trade, jobs, social protection and economic development at the heart of the recovery.

While underscoring the need to avoid protectionism, he is expected to advocate the importance of an open, transparent and rules-based multilateral trading system as a driver of global growth.

The economist-turned prime minister, whose advice is often sought at the G20 high table, is expected to give this prescription for providing the necessary confidence to global markets and ensuring a more stable global economic environment.