PM Modi's 'Aatmanirbhar Bharat' An Important Initiative To Tackle COVID-19, Says IMF

The International Monetary Fund (IMF) has praised the 'Aatmanirbhar Bharat' campaign launched by the government in the aftermath of the coronavirus pandemic.

IMF said Prime Minister Narendra Modi's call for an 'Aatmanirbhar Bharat ' (self-reliant India) helped the country tackle the Covid-19 economic shock.

Speaking to reporters, IMF's Communications Department Director Gerry Rice said that the the economic package under self-reliant India initiative has supported the Indian economy and mitigated significant downside risks. He further shared that that the initiative is quite important for tackling the current financial setback which India is facing.

Also, Gerry Rice said that India needs to play an important part in the global economy by pursuing policies that stimulate by improving the efficiency and competitiveness of the economy. He reiterated that these measures are also critical for India's economic recovery.

"To achieve the stated 'Make For The World' goal in India, the priority is to remain focused on policies that can help further integrate India in the global value chain, including through trade, investment and technology," Rice said as reported by India Today.

Rice went on to say that comprehensive structural reforms are needed in India for achieving "more inclusive and sustainable" medium-term growth.

He also mentioned that previously there have been discussions related to reforms -- infrastructure, land reforms, product market and labour market reforms, increasing female labour force participation and access to finance and better jobs.

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