India may log 7% growth in FY23 as reforms keep the economy humming, says Finance Minister Ms. Nirmala Sitharaman
- IBEF
- April 17, 2023
The Finance Minister, Ms. Nirmala Sitharaman attended the Plenary Meeting of the International Monetary and Financial Committee at the IMF Headquarters.
She predicted that the Indian economy would expand at a pace of 7% in 2022–2023 and stressed that the nation's good economic performance is due to a supportive domestic policy environment and the government's emphasis on structural reforms.
According to the IMF and the World Bank, India is expected to have the fastest-growing major economy in 2023. She also added that according to the Economic Survey 2022-23, the Indian economy would remain on track to grow around 7% in 2022-23.
Ms. Nirmala Sitharaman said in a series of tweets that the COVID-19 pandemic has taught us the importance of digitization, particularly Digital Public Infrastructure (DPI), in boosting the global economy. She also emphasised how India's DPI has fostered the development of a vibrant entrepreneurial ecosystem and vastly enhanced access.
Referring to the global sovereign debt roundtable, the finance minister stated that it has displayed a constructive way forward with multi-stakeholder cooperation for other vulnerable nations, and India is delighted to be a part of the team that provided solutions for Sri Lanka and Surinam.
Sitharaman reaffirmed her commitment to looking into potential solutions through stakeholder engagements to urgent global concerns that disproportionately affect the most vulnerable and impoverished.
She also asked the G20 countries to continue to support multilateral initiatives and to participate in meaningful conversations to combat the threat of global fragmentation.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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