Nirmala Sitharaman agrees to India’s GDP growth projection by IMF 

Indian economy aims at reaching the $5 trillion in the next few years, with eyes on the $8 trillion mark by 2030. However, many economic experts have expressed their doubts at this goal as the world nears recession thanks to the after-effects of Covid-19 pandemic followed by the ongoing Russia-Ukraine conflict. Contrary to these beliefs, the International Monetary Fund (IMF) has made a prediction saying India will record 7% GDP growth in Fiscal Year 2023; and Indian Finance Minister Nirmala Sitharaman made no hesitation in expressing her agreement over this prediction. 

During her meeting at the Plenary Meeting of the International Monetary and Financial Committee at the IMF Headquarters, Sitharaman said that India would grow at 7% in the coming year and highlighted the importance of building a futuristic Digital Public Infrastructure for creating a welcoming environment for entrepreneurs. She also mentioned the need to take action towards global sovereign debts with special mention to Sri Lanka’s current economic situation. Recently, India’s Commerce Minister Piyush Goyal had announced that India’s overall exports had crossed a record $750 billion. He also added that the government strives to take this number up to $2 trillion by the year 2030.