IMF Managing Director Kristalina Georgieva said on Thursday that we are forecasting absolutely strong growth for India. Yes, it is certainly expected that the GDP for 2022 is slightly lower than our estimate of 9.5 per cent at 9 per cent.
International Monetary Fund (IMF) Managing Director Kristalina Georgieva has said that the Budget 2022-23 presented by Finance Minister Nirmala Sitharaman is a very thoughtful policy agenda for India and it focuses on human capital investment and digitization. Emphasizes innovation in research and development.
Finance Minister Nirmala Sitharaman presented a budget of Rs 39.45 lakh crore in Parliament on Tuesday, February 1, 2022. Presented for the financial year 2022-23, this budget proposes a lot of spending on highways to affordable housing and is thought to keep the key engines of the economy recovering from the pandemic strong.
In the budget, the Finance Minister has emphasized spending on infrastructure to generate employment and strengthen economic activities. Capital expenditure is proposed to increase by 35 per cent to Rs 7.5 lakh crore in the financial year starting April 2022.
IMF forecasting strong growth for India :
Georgieva said in a video conference with some media personnel on Thursday, “We are forecasting absolutely strong growth for India. Yes, it is certainly expected that the GDP for 2022 is slightly lower than our estimate of 9.5 per cent at 9 per cent. But, we will slightly revise (increase) the forecast for 2023 as well, as we think we will see steady growth which is not much different from the forecast expressed by the Finance Minister.
Thoughtful policy agenda for India Budget 2022-23 :
He said, “Our position is very positive that India is looking at tackling short-term issues and at the same time looking at long-term structural transformation,”. There is a lot of emphasis on human capital investment and innovation in research and development on digitization.” Georgieva said that this budget is a thoughtful policy agenda for India.
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