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Indian Economy: On one hand, when the economic slowdown is being seen all over the world. Good news is coming for the world from India. International Monetary Fund’s Managing Director Kristalina Georgieva has said that the Indian economy alone will contribute 15 percent to the growth of the global economy. He said that India has emerged as a shining star in the global economy.
In an interview to PTI, Kristalina Georgieva said that the performance of the Indian economy is very impressive. This year, the IMF expects that at the end of this financial year, India’s economic growth rate can be 6.8 percent. He said that in the financial year 2023-24, India’s economic growth rate is estimated to be 6.1 percent, which is slightly less but much higher than the average of the economies of the whole world. He said that in this way, in 2023, India will contribute 15 percent to the world’s economic growth, which is the fastest growth rate among the major economies of the world.
Kristalina Georgieva said that the IMF estimates that 2023 could be very difficult as compared to 2022’s 3.4 percent and the global growth rate could come down to 2.9 percent. But in the midst of this, India remains the most shining star. He said that the main reason for this is digitization, due to which India has been helped in reducing the effects of Corona epidemic, as well as due to this, development has accelerated and employment opportunities have increased. He told that in view of the economic situation, India’s fiscal policy has been very effective. He said that in the budget presented recently, the government has expressed its commitment to reduce the deficit. Along with this, a big provision has been made in the budget for capital investment.
Kristalina Georgieva said that India did not delay in learning lessons from the epidemic and very strong policies were implemented to overcome it. Praising the budget presented by Finance Minister Nirmala Sitharaman on February 1, 2023, he said that she has prepared this budget very thoughtfully.
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