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Finance Minister AHM Mustafa Kamal has sent in a formal request to the IMF for a $4.5 billion loan, putting to bed the speculations on whether the country would be seeking the support from the Washington-based multilateral lender at all.
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The IMF, early this week, projected a fairly robust growth of 8.2 per cent for India in 2022, making it the fastest-growing major economy in the world, almost twice faster than China's 4.4 per cent.
"All in all, I read the (budget) statement and I thought it was a very thoughtful policy agenda for India, the senior official said in response to a question," said Kristalina Georgieva, Managing Director, International Monetary Fund.
The board will issue a statement of support for Georgieva after a thorough review of allegations.