International Monetary Fund (IMF) brand. Representational picture
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The current remarks of Krishnamurthy Subramanian, Executive Director on the International Monetary Fund, about India’s growth figures does not characterize the views of the IMF and had been in his position as India’s consultant on the world physique, the IMF has mentioned.
“The views conveyed… by Mr. Subramanian were in his role as India’s representative at the IMF,” Julie Kozack, IMF spokesperson, informed reporters right here on Thursday.
She was responding to a query on current remarks by Mr. Subramanian, by which he projected a growth charge of 8% for India, which is totally different from the final growth charge projections by the IMF.
Mr. Subramanian, at a occasion in New Delhi on March 28, had mentioned Indian economic system might develop at 8% until 2047, if the nation redoubles the great insurance policies that it has carried out during the last 10 years and speed up reforms.
“So, the basic idea is that with the kind of growth that India has registered in the last 10 years, if we can redouble the good policies that we have implemented over the last 10 years and accelerate the reforms, then India can grow at 8% from here on till 2047,” he had mentioned.
The IMF spokesperson clarified, “We do have an Executive Board. That Executive Board is made up of executive directors who are representatives of countries or groups of countries, and they make up the Executive Board of the IMF. And that’s distinct, of course, from the work of the IMF staff.”
The IMF could be updating its World Economic Outlook within the subsequent couple of weeks. “But our growth projections as of January were for medium term growth of 6.5%, and that was a slight upward revision relative to October. Again, we will be presenting the latest forecast in just a couple of weeks,” Mr. Kozack mentioned.
