'Int'l community lauds India's inclusive growth'

K SUBRAMANIAN, INDIA'S TOP ECONOMIST AT IMF, PRAISES GROWTH, DIGITAL INFRA

- 

WASHINGTON: The world is bullish on India, the country's top economist, currently executive director of the International Monetary Fund has said, noting that India's public digital infrastructure and inclusive growth is not only being talked about but also applauded by the international community.

"I think the Indian economy has been growing overall very well. Post-COVID, the growth rate has consistently been seven per cent. Of course, there's been a little bit of a dip this quarter. Partly it is because of the slowdown in capital expenditures. That itself is because of some of the election cycles. Also, there's been some impact on exports. But I expect this dip to be temporary," Krishnamurthy V Subramanian, Executive Director at IMF.

"From the vantage point that I've been sitting on the IMF board, I have no hesitation in saying the world is bullish on India.

The kind of public digital infrastructure that India has enacted, is something that almost every one of my board colleagues often finds a mention. They mention it with sincere appreciation. Apart from that, the kind of inclusive growth that India has pursued over the last decade is also something that comes up for appreciation," Subramanian, the former Indian Chief Economic Advisor and author of the latest book "India@100" said in an interview.

Responding to a question, Subramanian said India during Covid chose to implement economic policy that was different from the rest of the world. While the rest of the world identified COVID as purely a demand-side shock, India was the only large economy to diagnose COVID as both a demand-side and a supply-side shock, he said.