Ahead of tabling of the Interim Union Budget 2024-25, Executive Director of the International Monetary Fund (IMF) and former Chief Economic Advisor to the Government of India, KV Subramanian, said: “India has completely overcome the COVID-19 pandemic impact.”
“Global economy has still not completely recovered because inflation resulted due to spending during COVID-19 and to bring that down interest rates have been increased. So, the interest rates have not decreased yet. Contrary to that, if you look at India – inflation is under control here,” Subramanian said.
“Policy rates can also come down in the time to come. But of you see overall – fiscal deficit is being brought down, current account deficit is in a good position, inflation is under control too… So, there is no doubt that India has completely overcome the pandemic impact,” he added.
Finance Minister Nirmala Sitharaman will present the Interim Budget in Parliament on Thursday (1 February) ahead of the Lok Sabha elections in 2024, marking the final budget in the second term of Prime Minister Narendra Modi.
The Interim Budget estimates or outlines expenditure, revenue, fiscal deficit, financial performance and projections until the formation of a new government. It helps the government to manage its financial obligations.
Link to article –
Budget 2024: Ahead of FM Sitharaman speech, IMF Executive Director says India’s economy quite strong
