Professor Krishnamurthy Subramanian, Executive Director,International Monetary Fund, Washington DC , addressed the All India Services, Central Civil Services, and Military Engineer Services Officers, who are attending their respective Foundation Courses.<\/p>\n
The theme of his address was \u201cDisseminating the India Story\u201d.Professor Subramanian stated, with a sense of pride that India is poised to enter a decade of growth at +7%, which was in line with the IMF forecast.<\/p>\n
He also stated that India has emerged as a \u201cpositive spot\u201d in the world economy, due to the well-designed policy responses that were implemented during the COVID crisis.<\/p>\n
Professor Subramanian said that the policy response addressed supply-side disruptions by
\nallowing the movement of essential commodities even during the lockdown, as any disruptions in
\nthe supply chain would have made it extremely difficult to kick-start the economy, once
\nagain. On the demand side, he said, that targeted schemes were introduced such as the PM
\nGareeb Kalyan Yojana which provided free ration to 80 crore poor people, by utilizing the
\nstocks with FCI. \u201cIn order to address the credit needs of the MSME sector and the urban
\npoor, an Emergency Credit Line Guarantee Scheme, was introduced, in which the Govt
\nprovided guarantees for bank lending\u201d, he stated. He added that the increase in infrastructure spending will \u201ccrowd in\u201d the private sector investment and address the supply side through the creation of long term assets and ultimately employment generation, as well.<\/p>\n
Continuing his address, Professor Subramanian stated that India followed a unique
\neconomic path of introducing supply-side measures coupled with targeted demand-side
\nstimulus. \u201cEmerging economies that implemented only demand-side fiscal stimulus are now
\nfacing extremely high rates of inflation, e.g., Turkey (80%), Argentina (70%) and Brazil
\n(20%)\u201d he said. Similarly, developed countries such as USA, UK, France, Italy and Japan
\nalso followed a similar economic path of demand-side stimulus and are now facing
\nunprecedented rates of inflation.<\/p>\n
\n
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Professor Krishnamurthy Subramanian, Executive Director,International Monetary Fund, Washington DC , addressed the All India Services, Central Civil Services, and Military Engineer Services Officers, who are attending their respective Foundation Courses. The theme of his address was \u201cDisseminating the India Story\u201d.Professor Subramanian stated, with a sense of pride that India is poised to enter a decade […]<\/p>\n","protected":false},"author":3,"featured_media":230070,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,2],"tags":[16138,109546],"class_list":["post-230069","post","type-post","status-publish","format-standard","has-post-thumbnail","category-politicalnews","category-top-stories","tag-indian-economy","tag-professor-krishnamurthy-subramanian"],"jetpack_featured_media_url":"https:\/\/greattelangaana.com\/english\/wp-content\/uploads\/2022\/10\/economy.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/posts\/230069","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/comments?post=230069"}],"version-history":[{"count":0,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/posts\/230069\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/media\/230070"}],"wp:attachment":[{"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/media?parent=230069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/categories?post=230069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/tags?post=230069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}