India may log 7% growth in FY23 as reforms keep the economy humming, says Finance Minister Sitharaman

Finance Minister Nirmala Sitharaman attended the Plenary Meeting of the International Monetary and Financial Committee at the IMF Headquarters on Friday. She stated that the Indian economy is expected to grow at a rate of 7% in 2022-23, and emphasized that the country's strong economic performance is a result of a favorable domestic policy environment and the government's focus on structural reforms.

"Both the IMF and World Bank project India to be the fastest-growing major economy in 2023. The Indian economy will stay on course and is projected to grow at seven per cent in 2022-23, as per the Economic Survey 2022-23," she said.

In a series of tweets from the Finance Ministry, Nirmala Sitharaman highlighted during her intervention that the COVID-19 pandemic has taught us the importance of digitalization, particularly Digital Public Infrastructure (DPI), in driving the global economy. She also pointed out that India's DPI has greatly improved access and facilitated the growth of a dynamic entrepreneurial ecosystem.


Referring to the global sovereign debt roundtable, the finance minister said it has demonstrated a constructive way forward with multi-stakeholder cooperation for other vulnerable countries, and India is pleased to be a part of the team that provided solutions for Sri Lanka and Surinam.

Sitharaman reiterated the commitment to exploring solutions through stakeholder engagements to pressing global challenges, which disproportionately harm the poorest and most vulnerable.

She further urged all the G20 members to continue to support multilateral efforts and emphasised engagement in positive dialogue to fight the challenge of global fragmentation.

Inputs from PTI