IMF Says 8% Growth Projection For India Not Ours
The IMF is set to release updated growth forecasts in its upcoming World Economic Outlook in a few weeks.
The recent statements made by Krishnamurthy Subramanian, who serves as India's executive director at the International Monetary Fund, regarding India's growth figures do not reflect the official views of the global body.
Julie Kozack, spokesperson for the IMF, emphasized that Subramanian's comments were made in his capacity as India's representative within the IMF, not as an expression of the IMF's position. She addressed this during a press briefing on Thursday.
Kozack responded to queries regarding Subramanian's recent remarks projecting an 8% growth rate for India, a figure that diverges from the IMF's previous growth rate projections.
During an event in New Delhi on March 28, Subramanian expressed optimism about India's economic prospects, suggesting that the country could achieve an 8% growth rate until 2047 by building upon successful policies of the past decade and accelerating reforms.
Explaining the distinction between official IMF positions and individual representations, Kozack clarified, "We have an Executive Board composed of executive directors representing different countries or groups of countries. This Board's role is separate from the work carried out by IMF staff."
The IMF is set to release updated growth forecasts in its upcoming World Economic Outlook in a few weeks. Kozack noted that the IMF's January projections indicated a medium-term growth rate of 6.5%, slightly revised upwards from October. She confirmed that the latest forecasts will be presented shortly.
(With inputs from PTI)
