“This is admirable…will continue to grow further”: NK Singh on IMF’s India growth projection

New Delhi [India], July 29 (ANI): While lauding the International Monetary Fund’s (IMF’s) economic prediction for India from this year, NK Singh, Chairman of 15th Finance Commission of India has said that the projection will “continue to grow further.”

The co-chair of G20 expert group’s remarks came on the sidelines of the India-Japan forum, where Finance Minister Nirmala Sitharaman highlighted the first volume of the NK Singh and Lawrence Summers report, which was published recently.
When asked about his views on the IMF upgrading its economic prediction for India from 5.9 per cent to 6.1 per cent, Singh told ANI, “This is admirable and you will see in the coming times that it will continue to grow further.”

Reiterating the four issues stated by Finance Minister Nirmala Sitharaman to make India a developed nation, he said that this can contribute to “strengthen multilateral development banks, debt, crypto-digital and urban sector.”

Speaking at the India-Japan Forum, Sitharaman said, “The govt is aiming at building an India which will reach its destination of being a developed country by 2047. So in this phase, the emphasis has been on 4 different issues- infrastructure, investment, innovation and inclusivity.”

The second part of the report, will be released in October for discussion by finance ministers ahead of the G20 Annual meeting at Marrakech (Morocco).

It will set the road-map for the transformation of MDBs (Multilateral Development Banks) that will have to evolve to address the ongoing and upcoming challenges faced by the global economy, Sitharaman said.