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India s fiscal response to COVID-19 last year prevented severe contraction: IMF official
Gaspar stressed the importance of being ready to provide agile and flexible policy support as appropriate to respond to COVID-19 related developments
Joe C Mathew | April 27, 2021 | Updated 14:28 IST
Director of IMF s Fiscal Affairs Department Vitor Gaspar (Source: IMFBlog)
India s fiscal response to the first wave of COVID-19 infections last year has found a taker in the International Monetary Fund (IMF).
Speaking at a high-level roundtable organised by the IMF in association with the Centre for Social and Economic Progress (CSEP) on Securing Sustainable Finances and Medium-term Fiscal Frameworks: International Experience and Relevance for India , Vitor Gaspar, Director of IMF s Fiscal Affairs Department, supported India s fiscal response in the face of COVID-19, stating that fiscal support in India has prevented severe contractions . The online event was organised on April 23.
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Innovative India must capture all segments of financial market to fuel growth: IMF
India is on the right track and is innovating on the policy side, including on digital identity and payments, but it also needs to capture all the segments of the financial market and institutions to make sure that every piece fits together like a puzzle to fuel growth in the country, according to a top IMF official.
âThe goal is to have an economy and a financial system that can absorb shocks. ..Balance sheets can be better managed, Non-Performing Loans (NPLs) can be better managed,â Tobias Adrian, Director of the Monetary and Capital Markets Department of the International Monetary Fund (IMF) told PTI in an interview.