INSUBCONTINENT EXCLUSIVE:
"We have been projecting a quite robust growth for India," IMF's Kristalina Georgieva said.Washington: The Union budget presented by
Finance Minister Nirmala Sitharaman is a very "thoughtful" policy agenda for India and puts a great deal of emphasis on innovation in
research and development on human capital investment and digitalisation, Managing Director of IMF Kristalina Georgieva has said.Finance
Minister Sitharaman unveiled a Rs 39.45 lakh crore Budget on Tuesday, with higher spending on highways to affordable housing with a view to
fire up the key engines of the economy to sustain a world-beating recovery from the pandemic.In the budget, she gave stress on spending on
infrastructure to create jobs and boost economic activity.The budget for the fiscal year beginning April 2022 proposed a massive 35 per cent
jump in capital expenditure to Rs 7.5 lakh crore, coupled with the rationalisation of customs duty, an extension of time for setting up new
manufacturing companies and plans for starting a digital currency and tax crypto assets."We have been projecting a quite robust growth for
Yes, there is a small downgrade versus our previous projection from 9.5 per cent to 9 per cent 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
Monetary Fund (IMF) 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, she said."So far, by the way, what we see is that the tightening
of financial conditions is not translating into a big problem for emerging markets
In comparison to previous periods, the impact on rates is not at all significant
Why? Because emerging markets have worked to build buffers and strength for situations like this and because many of them themselves have
addressing short-term issues, but also long-term structural transformation, and that there is a great deal of emphasis placed on innovation
in research and development on human capital investment and digitalisation, as well as thinking of how India can accelerate the climate
for the Union Environment Ministry from the last fiscal by 5.6 per cent but shrunk the allocation to control pollution by Rs 10 crore.The
government, however, increased the Budget for National Mission for Green India from Rs 290 crore in the last financial year to Rs 361.69
crore this year with the national afforestation programme alone being allotted Rs 300 crore, more than last year's amount of Rs 235
crore.(Except for the headline, this story has not been edited by TheIndianSubcontinent staff and is published from a syndicated feed.)
