IMF sets distance from former chief economic adviser K Subramanian’s claim of 8% growth for India
A spokesperson clarified that the International Monetary Fund had, in January, projected a 6.5% growth rate for the Indian economy in the medium term.
The International Monetary Fund on Thursday distanced itself its India Executive Director Krishnamurthy Subramanian’s claim that the Indian economy can grow at 8% “till 2047”.
“With the kind of growth that India has registered in the last 10 years, if we can redouble the good policies that we have implemented…and accelerate the reforms, then India can grow at 8% from here on till 2047,” Subramanian, who is India’s former chief economic adviser, had said at an event in Delhi on March 28.
Prime Minister Narendra Modi has on several occasions emphasised the goal of India becoming a developed economy by 2047.
Speaking to reporters during a press briefing on Thursday, International Monetary Fund Communications Department Director Julie Kozack said that Subramanian’s views do not represent the official view of the organisation’s staff, but were nevertheless made in his capacity as the International Monetary Fund’s executive director in India.
Responding to a question from an Indian news publication about Subramanian’s comments, Kozack said: “I just want to start by explaining a little bit the different roles at the IMF. So we do have an Executive Board. That Executive Board is made up of executive directors who are representatives of countries or groups of countries…and that’s distinct, of course, from the work...
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