Budget 2022-23 thoughtful policy agenda for India, says IMF Managing Director

Ms. Georgieva said that IMF has been projecting quite a robust growth for India.

The Union budget presented by Finance Minister Nirmala Sitharaman recently is a very “thoughtful policy agenda” for India, International Monetary Fund, Managing Director, Kristalina Georgieva said.

“We have been projecting a quite robust growth for India. Yes, there is a small downgrade versus our previous projection from 9.5% to 9% for 2022. But then we also have a small upgrade for 2023, because we think that we will see a stable growth not very different from [those projected by] the [Union] Minister of Finance,” Ms. Georgieva said during a virtual round table with a group of reporters.

The International Monetary Fund (IMF), she noted, sees this being conditioned on a number of factors, including that in the COVID-19 pandemic they continue to function better and should the pandemic continue to be around, and that the tightening of financial conditions would be done with clear forward guidance and in a prudent manner, not creating any more significant shock.