Indian Economy Moving forward with strength. The whole world is looking towards India with optimism. The country’s top economist and International Monetary Fund (IMF) executive director Krishnamurthy V Subramaniam has said this. He said that the world is optimistic about India. He said that India’s public digital infrastructure and inclusive growth is not only being discussed but is also being appreciated by the international community. He said, I think the Indian economy overall is growing very well. After Covid, the growth rate has been consistently seven percent. Of course, there has been a slight decline this quarter. This is partly due to the slowdown in capital expenditure. Also, there has been some impact on exports.
GDP will rise again
But I think this decline will be temporary. India’s former Chief Economic Advisor Subramanian has recently written a book ‘India@100’. He said, since sitting on the IMF board, I have no hesitation in saying that the world is optimistic about India. The kind of public digital infrastructure that India has built is something that almost every colleague on my board frequently talks about. They sincerely appreciate it.
Inclusive development in India
He further said that the kind of inclusive growth that India has achieved in the last decade should also be appreciated. Responding to a question, Subramanian said that during Covid, India chose to implement an economic policy which was different from the rest of the world. He said the rest of the world identified Covid entirely as a demand-side shock, while India was the only major economy to identify Covid as both a demand-side and supply-side shock. He said that due to this, when the war started in Europe and supply side problems arose, it did not have that much impact on India.
