India’s high growth rate 'positive news' for world: IMF MD

International Monetary Fund (IMF) chief Kristalina Georgieva has lauded India's high growth rate, as projected in the latest World Economic Outlook, saying that it is positive news for the world. "India is one of the economies that are growing at a high rate. Even with the small downgrade, growth is projected for this year to be 8.2 per cent," said Georgieva, adding, "healthy for India, but also positive in a world where growth slowdown is creating a major problem." She was speaking on the sidelines of the annual spring meeting of the IMF and the World Bank in Washington on Wednesday. 

Georgieva noted India's well-targeted policy mix that has helped the economy to remain resilient even with limited fiscal space. She also talked about the country's resilience in remaining the fastest-growing economy across the globe despite challenges posed by the Covid-19 pandemic. The senior IMF official also praised India for helping its neighbouring country Sri Lanka as it tackles the worst economic crisis of decades. Earlier this week, the IMF projected a “fairly robust” growth of 8.2 per cent for India in 2022. This reportedly made India the fastest-growing major economy in the world. While global growth has been projected at 3.6 per cent in 2022, down from 6.1 per cent in 2021.