IMF said- Modi Government's management is strong but due to these reasons it may collapse, know what is the risk

IMF said- Modi Government’s management is strong but due to these reasons it may collapse, know what is the risk

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new Delhi. The financial management of Prime Minister Narendra Modi is being praised all over the world. International Monetary Fund (IMF) MD Kristina Georgieva has said that the management of the Modi government was strong even in the epidemic but rising energy prices in the global market can create a crisis.

The MD of IMF said, the Indian economy is on the path of rapid recovery after recovering from the effects of the Kovid-19 epidemic. The rising cost of energy can put obstacles in the way of India. This is the only thing that can stop the Indian economy from fulfilling its target. The present government will have to find a way out of this crisis of the global market.

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Inflation will increase the burden on people’s pockets
IMF’s first deputy MD Gita Gopinath has also described the energy crisis as the biggest risk for India. Regarding the crisis arising out of the Russo-Ukraine war, he said that it has affected the economy of the world including India. Since, India imports most of the energy it needs, it will be more likely to be affected by rising prices in the global market. Retail inflation is already above 6 per cent and if it rises even further, the burden on people’s pockets will increase.

focus on the needy first
Georgieva said that our advice to India is that first of all attention should be paid to such sections which are most in need. Right now not only energy prices are increasing, but food prices are also going up. In such a situation, it is most important to save those people of the country, who are struggling to fill their stomach and run their families.

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Monetary policies will also have to change
The IMF chief said that India will also have to change its monetary policies according to the need. If the Modi government wants, it can amend its fiscal deficit target, but it will have to open its treasury for the needy section of the society. In the coming times, it will be interesting to see how the government deals with this crisis.

Tags: Crude oil prices, IMF

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