The International Monetary Fund (IMF) has praised the ‘Aatmanirbhar Bharat’ campaign launched by the government in the aftermath of the coronavirus pandemic.
IMF said Prime Minister Narendra Modi’s call for an ‘Aatmanirbhar Bharat (self-reliant India) helped the country tackle the Covid-19 economic shock.
Speaking to reports, IMF’s Communications Department Director Gerry Rice said, “The economic package under this self-reliant India initiative, which was announced in the aftermath of the coronavirus shock, has supported the Indian economy and mitigated significant downside risks, so we do see that initiative as having been important.”
Rice also said India needs to play a more important part in the global economy by pursuing policies that stimulate by improving the efficiency and competitiveness of the economy. He said it these measures are also critical for India’s economic recovery.
"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," Rice told reporters.
Rice went on to say that comprehensive structural reforms are needed in India for achieving “more inclusive and sustainable” medium-term growth.
"We have talked about those reforms before -- infrastructure, land reforms, product market and labour market reforms, increasing female labour force participation, access to finance and better jobs," Rice said.