Fri. Mar 29th, 2024

The IMF (International Monetary Fund), on Friday, expressed its interest in working with the new government of Prime Minister Narendra Modi, a top official said. The IMF, also asserted that India’s economic direction should continue to focus on achieving faster and more inclusive growth with low inflation.

“As far as the IMF is concerned, we think that the reforms and the future direction should continue to focus on achieving faster and importantly, more inclusive growth with low inflation,” Gerry Rice, spokesperson of IMF said.

Under the leadership of Prime Minister Modi, the BJP (Bharatiya Janata Party) won humongous mandate and emerged victorious in the 2019 Lok Sabha elections. The NDA, overall gained 352 seats out of 543-member parliament strength, while the BJP became the single largest party to clean sweap second time in a row with 303 votes.

“The IMF looks forward to working with Prime Minister Modi’s new government,” Rice added further.

In March, the IMF has stated that India has been one of the fastest growing economies in the world. It added that the country has come out with several vital reforms in the last five years, but more needed to be done.

“India has of course been one of the world’s fastest growing large economies of late, with growth averaging about seven per cent over the past five years,” Rice had said.

“Important reforms have been implemented and we feel more reforms are needed to sustain this high growth, including to harness the demographic dividend opportunity, which India has,” he further said.

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