New Delhi, Business Desk. The International Monetary Fund (IMF) on Tuesday this week praised the budget presented by the Indian government for the next financial year. The organization’s MD Kristalina Georgieva described the budget of the central government as prepared with great understanding and future-focused.
“We have been consistently announcing aggressive growth rates for India. It is true that we have revised the previous estimate for this year, reducing it slightly from nine and a half percent to nine percent. But it is also true that for the next year (2023), we have slightly raised India’s growth forecast.
We think that the pace at which India is going to grow will not be much different from the estimates of the country’s Finance Minister. The IMF feels that the better way the country has dealt with and managed the Corona pandemic so far is commendable. Now even if the country tightens its monetary policy, then it will not be like a shock, but after due consideration, it will be a step taken for the good of the public, in whose management the government will leave no stone unturned.
Georjiva said that none of the steps taken so far to tighten the financial system has come as a major problem for the emerging markets. There was no significant impact on rates this time as compared to the previous steps. The main reason for this was that emerging markets have kept enough reserves to deal with a crisis like Corona. One thing that must be said about India is that it has made good efforts to deal with short term challenges and avoid long term challenges.