PITTSBURGH (Reuters) September 24- A U.S. proposal to give major developing countries increased voting rights at the International Monetary Fund would a "subtantial step in the right direction," Planning Commission Deputy Chairman Montek Singh Ahluwalia said on Thursday.
Ahluwalia told Reuters in an interview that finance ministers from Brazil, Russia, India and China last month proposed a 7 percent shift in voting power at the IMF.
"If the US proposes 5 percentage points, although it's less than what the BRICs had proposed, it would certainly be a very significant shift in voting power. You know, I think that would be a substantial step in the right direction," Ahluwalia said in a interview ahead of the Group of 20 leaders summit.
