New Delhi: While the country has been reporting fewer cases for the last 2 months and the declining trend has been maintained, India is showing positive signs of improvement. The Indian Monetary Fund made a statement that Indians can focus on getting the economy back on track.
The International Monetary Fund on Wednesday said that as the Indian economy recovers from the COVID-19 pandemic that has hit it hard, it is important for the country to focus on public investment, especially in green zones, reported PTI.
“As we move towards recovery, it is also important to focus on public investment, especially on green investment, so that the recovery is inclusive and To be green
He said India’s debt ratio stands at around 90 per cent, and it is important to point out that there is a medium-term fiscal framework that ensures investors that the debt ratio will decline in the medium term.
Responding to a question, Mauro said the situation is improving when it comes to the pandemic.
This is very different from a few months ago, he said, adding that fortunately, the number of cases is declining and vaccination is becoming more widespread.
Therefore, on the economic front, even though the situation is improving, addressing the health emergency remains a priority. Mauro said that it remains to provide adequate support especially to the poor section of the population through social security, employment benefits etc.
He further added that in terms of recent reforms, the National Asset Reconstruction Company, the so-called bad bank, is potentially very promising as it is important to tackle non-performing loans.
Mauro said it is vital that such so-called bad banks have both governance and independence in place so that the cost of public finance can be kept under control and inclusive growth is promoted.