IMF distanced itself from the estimate of India’s growth rate at 8 percent and said that this is not our estimate.
IMF has said that International Monetary Fund Executive Director Krishnamurthy Subramanian’s recent comments regarding India’s growth figure do not represent the views of the IMF.
“The views expressed by Mr. Subramanian were his as India’s representative to the IMF,” IMF spokeswoman Julie Kozak told reporters in Washington. Let us tell you that Subramaniam had estimated a growth rate of 8 percent for India, which is different from the previous growth rate estimates by IMF.
Subramanian had said at an event in New Delhi on March 28 that the Indian economy could grow at 8 per cent by 2047 if the country doubles down on good policies implemented in the last 10 years and accelerates reforms.
He had said, “The kind of growth that India has recorded in the last 10 years, if we can double down on the good policies that we have implemented in the last 10 years and accelerate the reforms, then India will be the best from here.” Can grow 8 percent by 2047. ,
“We have an executive board,” an IMF spokesperson clarified. The Board is composed of Executive Directors, who are representatives of countries or groups of countries and they make up the Executive Board of the IMF. And it is certainly different from the work of IMF staff. “The IMF will update its World Economic Outlook in the next few weeks.”
“Our growth forecast as of January was for medium-term growth of 6.5 percent,” Kozak said. “Again, we will present the latest forecast in a few weeks.”