On March 28, Krishnamurthy Subramanian, Executive Director at the International Monetary Fund said at an event in Delhi that India's financial growth could reach 8 percent by 2047.
Washington : The International Monetary Fund (IMF) did not take responsibility for the statement made by the head in charge of India. A few days ago, Krishnamurthy Subramanian, Executive Director at the IMF, express his estimate of India's financial growth. He claimed that India's financial growth could reach 8 percent by 2047. However, the IMF headquarters said on Friday that Krishnamurthy Subramanian's speech had nothing to do with the IMF. It may be noted that Krishnamurthy is India's representative at the IMF and in 2022 he was nominated as the Director of the IMF Executive Board.
On March 28, Krishnamurthy Subramanian said at an event in Delhi that India's financial growth could reach 8 percent by 2047, which is much higher than India's financial growth rate recently published by the IMF. Krishnamurthy Subramanian said, “In the last 10 years, India has seen a certain rate of financial growth. During the last decade, the country has implemented several effective policies, including reforms in the financial sector. If we continue on this trajectory and make further improvements, the financial growth rate could reach up to 8 percent by 2047.”
In this regard, IMF spokesperson Julie Kozak said in a statement, "The speech presented by Krishnamurthy Subramanian was given as a representative of India to the IMF. We have an executive board composed of executive directors representing one or more countries. The Executive Board of the IMF was formed with them, and their work is distinct from that of the IMF staff."
Note that the IMF will publish a comprehensive report on the financial situation of the world for the financial year 2023-24 in a few weeks. Regarding this, Julie Kozak said, “The estimated growth rate released in January was 6.5 percent, slightly higher than the report released in October. Therefore, we will once again release the current fiscal growth estimate in a few weeks."
Washington : The International Monetary Fund (IMF) did not take responsibility for the statement made by the head in charge of India. A few days ago, Krishnamurthy Subramanian, Executive Director at the IMF, express his estimate of India's financial growth. He claimed that India's financial growth could reach 8 percent by 2047. However, the IMF headquarters said on Friday that Krishnamurthy Subramanian's speech had nothing to do with the IMF. It may be noted that Krishnamurthy is India's representative at the IMF and in 2022 he was nominated as the Director of the IMF Executive Board.
On March 28, Krishnamurthy Subramanian said at an event in Delhi that India's financial growth could reach 8 percent by 2047, which is much higher than India's financial growth rate recently published by the IMF. Krishnamurthy Subramanian said, “In the last 10 years, India has seen a certain rate of financial growth. During the last decade, the country has implemented several effective policies, including reforms in the financial sector. If we continue on this trajectory and make further improvements, the financial growth rate could reach up to 8 percent by 2047.”
In this regard, IMF spokesperson Julie Kozak said in a statement, "The speech presented by Krishnamurthy Subramanian was given as a representative of India to the IMF. We have an executive board composed of executive directors representing one or more countries. The Executive Board of the IMF was formed with them, and their work is distinct from that of the IMF staff."
Note that the IMF will publish a comprehensive report on the financial situation of the world for the financial year 2023-24 in a few weeks. Regarding this, Julie Kozak said, “The estimated growth rate released in January was 6.5 percent, slightly higher than the report released in October. Therefore, we will once again release the current fiscal growth estimate in a few weeks."
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