The International Monetary Fund (IMF) on Thursday lauded the Atmanirbhar Bharat initiative launched by Prime Minister Narendra Modi and called it as “an important initiative”.
Gerry Rice, director-communications department at IMF, interacting with the media informed that the “economic package announced under this initiative announced in the aftermath of COVID-19 pandemic has supported Indian economy and mitigated significant downside risks”.
“To achieve the stated ‘Make For The World’ goal in India, the priority is to remain focussed on policies that can help further integrate India in the global value chain, including through trade, investment and technology,” reported Hindustan Times quoting Rice.
Rice further said that to achieve ‘Make For The World’ goal in India, the priority has to focus on policies that can help India to integrate further into the global value chain.
It may be mentioned here that IMF carried out a joint study with the NITI Aayog and ministry of finance, which indicates that to achieve high performance in health-related sustainable development goals, India would need to gradually increase total spending in the healthcare sector from the current 3.7 per cent of the GDP.
There also needs comprehensive structural reforms beyond the health sector in order to achieve more inclusive and sustainable medium-term growth.