India’s growth rate will continue, estimated to be seven percent in 2022-23: Sitharaman

Washington: Finance Minister Nirmala Sitharaman has said that the Indian economy will maintain its momentum and grow at seven percent in the financial year 2022-23, amid the International Monetary Fund (IMF) and the World Bank’s projections that India will be the fastest growing major economy in 2023. Participating in the plenary meeting of the International Monetary and Financial Committee at the IMF headquarters here on Friday, Sitharaman said a favorable domestic policy environment along with the government’s focus on structural reforms have strengthened domestic economic activity in India. maintained. He said that both the IMF and the World Bank have projected India to be the fastest growing major economy in 2023. The momentum of the Indian economy will continue and according to the Economic Survey 2022-23, it is estimated to grow at the rate of seven percent in 2022-23.

The Finance Ministry gave information about Sitharaman’s address in this meeting in several tweets. Accordingly, Sitharaman highlighted the lessons learned from the pandemic that digitization, especially Digital Public Infrastructure (DPI), has been a positive catalyst for the global economy and how India’s DPI has revolutionized access and created a vibrant entrepreneurial ecosystem. Ecosystem has been created. Referring to the Global Government Debt Roundtable (GSDR), Sitharaman said it has demonstrated a constructive way forward with multi-stakeholder cooperation for other vulnerable countries. With this, India is happy to be part of the team providing solutions for Sri Lanka and Suriname. Sitharaman reiterated commitment to find solutions with stakeholders to mitigate global challenges. These challenges disproportionately harm the poorest and most vulnerable countries. He urged all G20 members to continue supporting multilateral efforts and engage in positive dialogue to fight the challenge of global fragmentation.