[vc_row][vc_column width="1/1"][vc_column_text]India-IMF to Jointly Host Conference on “Advancing Asia: Investing for the Future”New Delhi: The Union Finance Minister Shri Arun Jaitley said that the Indian economy is fundamentally strong and forward looking. He elaborated the reforms under way and the commitment of the Government to accelerate growth while adhering to the path of fiscal discipline. The Union Finance Minister Shri Arun Jaitley was speaking during his meeting with Ms. Christine Lagarde, Managing Director, International Monetary Fund (IMF) here today. During the meeting, issues relating to the Indian and the global economy, key priorities of Government of India as well as issues relating to the IMF quota and governance reforms were discussed.
The Finance Minister Shri Jaitley further said that IMF has a crucial role to play in calming economic agents and financial markets to minimize the volatility in international financial markets. He called for early implementations of the 2010 IMF Quota and Governance Reforms. The Finance Minister Shri Arun Jaitley and Ms. Christine Lagarde, Managing Director, International Monetary Fund (IMF) agreed to jointly host a high level conference on “Advancing Asia: Investing for the Future” in March, 2016 in India. The conference would showcase that the Asia-Pacific region has rebounded quickly from the global financial crisis of 2008 and India, and several other countries in the region, have grown rapidly. This would be for the First time that such a Conference is being held in India.
Speaking on the occasion, Ms Christine Lagarde, Managing Director, IMF said that India is among the few major economies with a strong growth outlook. She said that growth in India has picked up, even as the world economy is faced with subdued demand conditions, particularly in Europe and Japan, and recent slowdown in China. IMF estimates that GDP growth in India this fiscal will be 7.2 to 7.4 per cent. Ms. Lagarde is on a visit to India from March 14-18, 2015. This is her second visit to India as Managing Director, International Monetary Fund(IMF). Earlier during the day, Ms. Lagarde made a courtesy call on the President of India and had a meeting with the Prime Minister.
MD, IMF meets PM
Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), met the Prime Minister, Shri Narendra Modi. Ms. Lagarde complimented the Government on the focused way in which it has been working to revive the economy. The results of this are visible and India`s growth rate has crossed 7.5%, she said, adding that it is the bright spot in the global economy. She expressed hope that India would continue on this growth path.
The Prime Minister thanked Ms. Lagarde for her words. He stressed the importance of having a clear direction and focus. He said reforms are not restricted to legislation alone, and implementation and direction are equally important. He said that his focus, while promoting growth, is to create jobs, have inclusive growth, and focus on development of backward regions in Eastern and North-Eastern India. This region is rich in natural and human resources and we need to capitalize on this. The priority is on all fronts – agriculture, manufacturing and services, he added. The Prime Minister also emphasized the need to have greater representation for Indians at the higher level of IMF, particularly at the Deputy MD level.[/vc_column_text][/vc_column][/vc_row]
Sanjay Trivedi is honorary editor of Asia Times. He is senior Indian Journalist having vast experience of 25 years. He worked in Janmabhoomi, Vyapar, Divya Bhaskar etc. newspapers and TV9 Channel as well as www.news4education.com. He also served as Media Officer in Gujarat Technological University.