Nirmala Sitharaman backs RBI's GDP growth projection
New Delhi, October 15
Finance Minister Nirmala Sitharaman has reposed faith in the RBI’s projection of 7 per cent growth in GDP in the current fiscal as against international rating agencies that forecast the rate of growth slipping below the projected mark.
India’s high economic growth is due to “a conducive domestic policy environment and government’s focus on key structural reforms to boost growth,” she said.
“We have ensured availability of free foodgrain to more than 800 million vulnerable families for the past 25 months through a massive public distribution network,” she said, while addressing a gathering at the IMF Headquarters.
“The last-mile delivery of financial services to the poor is a key priority of the government and has been helped by good digital infrastructure. Today, India is leading the world in terms of digital payment innovations with our transaction cost being the lowest in the world,” she said.
“I believe the IMF needs to increase resources available for emerging countries to safeguard the global financial system,” she said.
