India's union budget has been hailed by the International Monetary Fund (IMF) for its focus on growth and fiscal transparency. IMF director of communications Gerry Rice told a recent press conference that the budget rightly focuses on health, education, public infrastructure and, if fully implemented, can help increase India's growth potential.
IMF said fiscal policy can and should play an important role in facilitating a strong and inclusive economic recovery.India's union budget has been hailed by the International Monetary Fund (IMF) for its focus on growth and fiscal transparency. IMF director of communications Gerry Rice told a recent press conference that the budget rightly focuses on health, education, public infrastructure and, if fully implemented, can help increase India's growth potential.#
It welcomed measures to improve fiscal transparency by including food subsidies in the budget. “Of course, a medium-term fiscal consolidation strategy will be important to ensure credibility,” Rice said.
“And we also agree with the need to further strengthen the financial sector and look forward to the details of the proposed measures in that area,” Rice said.
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