IMF (International Monetary Fund)’s First Deputy Managing Director Gita Gopinath is currently on a visit to India.
During the conversation, Gita Gopinath said that India will have to create 60 million to 148 million jobs between today and 2030.
Earlier, the Chief Economic Advisor had said through the Economic Survey that India will have to create 8 million new jobs in the coming decade.
MF is bullish on India
While talking to India Today, IMF Deputy Managing Director has said that rural areas of India are performing better.
Geeta Gopinath said that the monsoon has been good this time. So we are expecting a good harvest. This will increase the income of the rural areas.
The performance of the FMCG sector has also improved in rural areas. Let us tell you, the IMF has increased India’s GDP projection for the financial year 2024-25 from 6.8 percent to 7 percent. This is also higher than the Indian government’s projection of 6.5 percent.
Gita Gopinath said that India has performed better than expected during the last financial year. Due to which our projection has also been affected.
He said that last year the private sector consumption was around 4 percent. We are expecting improvement in it after better performance in rural areas. This can be clearly seen in two-wheeler sales.
Indian economy will be this big in 2047
Gita Gopinath has expressed hope that India will become the third largest economy in the world by 2027.
Earlier this week, IMF Executive Director KV Subrahmanyan had said that India’s economy will reach $55 trillion by 2047.
He said that if the Government of India and the state governments continue to work with the right approach, the country can also achieve a GDP growth of 8 percent.
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