India is a bright spot on the dark horizon, says IMF

International Monetary Fund (IMF) has described India as a bright spot on the dark horizon. IMF Managing Director Kristalina Georgieva said that India deserves to be called a bright spot on this otherwise dark horizon because it has been a fast growing economy, even during this difficult times, but most importantly, this growth is underpinned by structural reforms." Prominent among the structural reforms are the "remarkable success" in digitalisation in India, from digital ID to providing all services and support on the basis of digital access," she said. "This has indeed been a huge factor for India's success," she said. She was replying to a question on her expectations from India just days before it takes over the presidency of G20. Ms. Georgieva was talking to reporters on the sidelines of the IMF and World Bank Annual Meetings in Washington. She said, most importantly, India's growth is underpinned by structural reforms.

 India is headed to lead the G20 countries from the position of "strength" and will leave a mark on the world for years to come during its next year's presidency, Managing Director of the IMF Kristalina Georgieva said on Thursday.
IMF's Deputy Director of Fiscal Affairs Department, Paolo Mauro had earlier termed Narendra Modi government's Direct Benefit Transfer scheme, as 'logistical marvel' considering the sheer size of the country. Mauro had said that there is a lot to learn from India's DBT scheme that seeks to help people who are at low-income levels.