India remains a ray of hope in the midst of affecting the pace of economic growth at the global level. After the International Monetary Fund (IMF) and the World Bank, now Finance Minister Nirmala Sitharaman has also expressed confidence that the country’s economic growth rate will be fine. He feels that the pace of Indian economy (GDP Growth Rate) will be maintained and its growth rate can be seven percent in the financial year 2022-23.
Remarks in the program of the IMF
Finance Minister Sitharaman was participating in an event at the IMF headquarters on Friday according to US time. Participating in the plenary meeting of the International Monetary and Financial Committee, he said that the government’s focus on structural reforms as well as a favorable domestic policy environment have kept domestic economic activity strong in India.
Finance Minister expressed this hope
He said that both the IMF and the World Bank have projected India to be the fastest growing major economy in 2023. The pace of the Indian economy will continue and according to the Economic Survey 2022-23, the growth rate of India’s economy can be seven percent in 2022-23.
DPI was also discussed
The Finance Ministry gave information about Sitharaman’s address in this meeting by tweeting one after the other. The Finance Minister said that digitization, especially Digital Public Infrastructure (DPI), has been a positive catalyst for the global economy. India’s DPI has brought a revolutionary change in terms of accessibility.
This thing on the help of weak countries
During this, the Finance Minister mentioned the Global Sovereign Debt Roundtable. He said that India is happy to be a part of the team providing solutions for Sri Lanka and Suriname. He reiterated the need to find solutions together to reduce global challenges and said that these challenges harm the poorest and most vulnerable countries the most.
Advocating for strictness on crypto
The Finance Minister discussed about cryptocurrencies while addressing a session of Finance Ministers and Governors of Central Banks of G20 countries at the IMF Headquarters. He urged all countries to work together for better regulation of cryptocurrencies. He said that better and stricter regulation is necessary in the case of cryptocurrency. For this, all the member countries of G20 will have to take steps in coordination with each other.
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