Finance Minister Nirmala Sitharaman on Friday said that India is expected to grow at a rate of 7 per cent in 2022-23. Earlier, the International Monetary Fund and World Bank estimated that India could be the fastest growing major economy in 2023.
Read More:- HDFC Bank Announces 1900% Dividend From Net Profits of FY23, Fixes Record Date
Sitharaman made this remark at the Plenary Meeting of the International Monetary and Financial Committee at the IMF Headquarters in US. While discussing the priorities pointed out in the managing director’s global policy agenda, Sitharaman reiterated that a conducive domestic policy environment, along with the government’s focus on structural reforms, has kept domestic economic activity in India robust.
Read More:-Salaried? Still confused about Income Tax Regime selection? Do this
Even as the IMF and World Bank project India to be the fastest-growing major economy in 2023, the Indian economy will continue to remain moving in the correct direction and it is likely to grow at seven per cent in 2022-23, as per the Economic Survey 2022-23, she added.
The Finance Minister said in a series of tweets that the lesson learned from the pandemic is that digitalization, particularly Digital Public Infrastructure, is a positive catalyst for the global economy and how India’s DPI has revolutionised access and created a thriving entrepreneurial ecosystem.
The finance minister made reference to the global sovereign debt roundtable and said that it has shown other vulnerable nations how to go forward constructively with multi-stakeholder cooperation. India was happy to be a member of the team that came up with solutions for Sri Lanka and Surinam.
Read More:- India’s Forex Reserves Increase $6.3 Billion to $584.76 Billion
Sitharaman reaffirmed her commitment to working with stakeholders to find answers to urgent global problems that disproportionately affect the most vulnerable and underprivileged people.
She also asked all G20 members to continue to support multilateral initiatives and to engage in constructive discourse in order to combat the threat of global fragmentation.
Read More:- Crypto needs immediate attention from…, Nirmala Sitharaman warns
Sitharaman recently had a meeting with Gita Gopinath, the First Deputy Managing Director of the IMF, during which they discussed debt vulnerabilities, along with other key issues.
