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IMF hails India's focus on health, public infrastructure in Budget 2021-22

By TIOL News Service

WASHINGTON, FEB 05, 2021: THE International Monetary Fund (IMF) on Thursday welcomed the Indian budget's focus on growth and said fiscal policy can and should play an important role in facilitating a strong and inclusive economic recovery.

Finance Minister Ms Nirmala Sitharaman on Monday vastly increased spending for healthcare by 137 per cent and also proposed a 34.5 per cent hike in capital expenditure for the coming fiscal year.

"The budget rightly focuses on health, education, public infrastructure and if fully implemented can help increase India's growth potential," IMF Communications Director Mr Gerry Rice said during a press briefing.

Welcoming measures to improve fiscal transparency by including food subsidies in the budget, he said, "Of course, a medium-term fiscal consolidation strategy will be important to ensure credibility."

"And we also agree with the need to further strengthen the financial sector and look forward to the details of the proposed measures in that area," he added.


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