IMF praises India's resilient economy, highlights structural reforms taken
- IBEF
- April 20, 2022
The International Monetary Fund (IMF) has complimented India's strong economy and emphasised the government's structural improvements in recent years. India was also praised for its commitment to the IMF's capacity development operations. India's vaccination programme and assistance to neighbouring and economically challenged countries were also complimented.
In a meeting with Ms. Nirmala Sitharaman, Minister of Finance and Corporate Affairs, IMF Managing Director Ms. Kristalina Georgieva praised India's well-targeted policy mix for helping the Indian economy remain robust. They reviewed many difficulties that the global and regional economies are now dealing with during the meeting.
India's policy approach is a lenient fiscal policy complemented with critical structural reforms, such as the bankruptcy code and targeted assistance to MSME and other vulnerable groups. India was aided by high agricultural output, supported by a favourable monsoon. Agricultural exports, like other exports, have risen dramatically, and India is expanding its economic operations, which will aid in the resolution of some global supply chain difficulties.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
Partners
