Budget 2022-23 thoughtful policy agenda for India, says IMF Managing Director
PTI, Feb 4, 2022, 8:46 AM IST
Washington DC: The Union budget presented by Finance Minister Nirmala Sitharaman recently is a very “thoughtful policy agenda” for India, International Monetary Fund, Managing Director, Kristalina Georgieva said.
“We have been projecting a quite robust growth for India. Yes, there is a small downgrade versus our previous projection from 9.5 percent to 9 percent for 2022. But then we also have a small upgrade for 2023, because we think that we will see a stable growth not very different from (those projected by) the (Union) Minister of Finance,” Georgieva said during a virtual round table with a group of reporters.
The International Monetary Fund (IMF), she noted, sees this being conditioned on a number of factors, including that in the COVID-19 pandemic they continue to function better and should the pandemic continue to be around, and that the tightening of financial conditions would be done with clear forward guidance and in a prudent manner, not creating any more significant shock.
“So far, by the way, what we see is that the tightening of financial conditions is not translating into a big problem for emerging markets. In comparison to previous periods, the impact on rates is not at all significant. Why? Because emerging markets have worked to build buffers and strength for situations like this and because many of them themselves have taken prudent actions once they faced inflationary pressures,” she said.
“We are very positive on the fact that India is thinking of addressing short-term issues, but also long-term structural transformation, and that there is a great deal of emphasis placed on innovation on research and development on human capital investment and digitalization, as well as thinking of how India can accelerate the climate change agenda using economic instruments for that,” Georgieva said.
“So, all in all, I read the (budget) statement and I thought it was a very thoughtful policy agenda for India,” the senior official said in response to a question.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
RBI bars Kotak Mahindra Bank from onboarding new customers via online, issuing fresh credit cards
Reverse migration has begun, says FM Nirmala Sitharaman
Markets sustain winning streak — Sensex jumps over 560 points, Nifty tops 22,300-level
Sensex climbs 640 points, Nifty tops 22,300-level in early trade
Insurance regulator IRDAI abolishes age restriction on health insurance product
MUST WATCH
Latest Additions
Uddhav fires ‘Bogus Janata Party’ barb at BJP over ‘nakli’ Shiv Sena jibe
Deve Gowda slams Rahul Gandhi over ‘wealth redistribution’ promise
LS Polls 2024: Nitin Gadkari faints during campaign rally in Yavatmal
Udupi: BJP Yuva Morcha leaders booked for unauthorised poster campaign
RBI bars Kotak Mahindra Bank from onboarding new customers via online, issuing fresh credit cards