Washington: India, the shining star of the global economy, will also perform strongly in the next financial year. The head of the International Monetary Fund, Kristalina Georgieva, has expressed the belief that India’s share in the global economic growth in the next year alone will be as high as 15 per cent. Georgieva claimed that India’s economy would continue to perform strongly in the next financial year due to the digitisation initiative, prudent fiscal policy and massive capital investment. 

Advertisement

In the fiscal year 2022-23 ending in March, India’s growth rate will be 6.8%. But in the financial year 2023-24, India’s growth rate will come down to 6.1 per cent. While the growth rate of other economies around the world is decelerating substantially, there is no doubt that India’s growth rate will also decline. Still, if we consider the global economy, India’s growth rate of 6.1 per cent can be said to be very good, claimed Kristalina Georgieva. In an interview with PTI, Georgieva said that India’s economy is performing much better than the rest of the world due to adherence to fiscal discipline and investment in the right place to promote growth and speed up the digitisation process. 

Moreover, India took the right lesson from the Corona pandemic and made necessary changes in its policy accordingly. Georgieva further said these results are beginning to be seen in the Indian economy. Georgieva praised India’s policy of looking at the economic situation and taking decisions accordingly. Georgieva also appreciated the budget announced by Union Finance Minister Nirmala Sitharaman for the year 2023-24. Georgieva, head of the Monetary Fund, believed the significant increase in capital investment in this budget would boost business and employment. 

Meanwhile, Kristalina Georgieva will be visiting India soon. The economic meeting of G-20 countries will be held in Bangalore. Kristalina Georgieva is said to be visiting India to participate in it. On this occasion, Georgieva claimed that 75 years of India’s independence had been completed and a mature India would now fulfil its role at the global level. Besides, India, which is hosting the G-20 Summit, has adopted the concept of ‘One Earth, One Family, One Future’ for the conference. Georgieva said that this concept is uplifting and motivating for all of us.

Advertisement

Related posts:

Pakistan on FATF ‘watch list’ for terror funding India imparted medical aid to 120 countries, Commerce Minister Piyush Goyal India will become Atmanirbhar if attention is paid to 15 sectors, claims ASSOCHAM India took decisive steps during Coronavirus Pandemic: IMF Indian economy will reach $10 trillion in a decade, claims Chief Economic Adviser   Indian MEA S Jaishankar holds talks with US State Secretary given G-20 Summit The decline in the Indian economy worrisome, warns IMF IMF praises India, says its social welfare programmes are a ‘Logistical Marvel’