Connect with us

Hi, what are you looking for?

[t4b-ticker]

World

Important For India To Focus On Green Investment Post-Pandemic: IMF

As we move towards the recovery, it is also important to focus on public investment, particularly on green investment, so that the recovery can be inclusive and green,” IMF during a news conference here.

IMF(PTI-File Photo)

Washington: As the Indian economy recovers from the COVID-19 pandemic that hit it hard, it is important for the country to focus on public investment, particularly in green sectors, the International Monetary Fund said Wednesday”. As we move towards the recovery, it is also important to focus on public investment, particularly on green investment, so that the recovery can be inclusive and green,” IMF’s Fiscal Affairs Department Deputy Director Paolo Mauro told reporters during a news conference here.

He said India’s debt is at the ratio of about 90 per cent, and it is important to give a signal that there is a medium‑term fiscal framework in place that ensures investors that the debt ratio will decline in the medium term. Responding to a question, Mauro said the situation is improving when it comes to the epidemic.

It is very different from a few months ago, he said, adding, fortunately, the number of cases is declining and the vaccination is becoming more widespread.

ALSO READ: Human Rights Experts Raise Concern Over Arrest Of Hong Kong Activist Chow Hang-Tung

“On the economic front, therefore, even though the situation is improving, the priority remains to address the health emergency. It remains to provide ample support, particularly to the poorer segments of the population through social protection, employment benefits, and so on,” Mauro said.

“In terms of more recent reforms, one that I would like to highlight is the National Asset Reconstruction Company, the so‑called bad bank. This is potentially very promising because it is important to tackle non‑performing loans,” he said.

ALSO READ: Jaishankar Stresses On Connectivity, Proposes Inclusion Of Chabahar Port In North-South Transport Corridor

This has been a long‑standing drag on credit, and potentially this is very promising, he added. “It is very important that both the governance and the independence of such so‑called bad banks be in place so that the costs to public finances can be kept under control and one can go back to promoting inclusive growth,” Mauro said. 

You May Also Like

Kerala

Several people have been injured and displaced while 18 people have been found dead as heavy rains pounded south and central Kerala causing flash...

India

With these deaths, the count of civilian killings reached nine in the past two weeks in Jammu and Kashmir.

India

A senior police official of Sonipat police said that while seeking Sarabjit's custody, police submitted before the court that they have to make certain...

Opinion

Recently, Welhungerhilfe and Concern worldwide, the two globally acknowledged organizations, released the Global Hunger Index (GHI)-2021. The report places India at 101st place amongst...

Advertisement