In the fiscal year 2022–2023, the Indian economy is predicted to develop at a pace of 7%, according to Finance Minister Nirmala Sitharaman. Sitharaman credits the government’s emphasis on structural reforms and the favourable domestic policy climate for this growth.
Sitharaman emphasised the significance of digitization and Digital Public Infrastructure in fostering economic growth in India during her virtual speech at the G20 Finance Ministers and Central Bank Governors conference on April 7. She also pushed for the involvement of stakeholders in finding answers to urgent global concerns.
Sitharaman drew attention to the most recent roundtable on global sovereign debt, which was held with the goal of helping vulnerable nations build cooperative, positive futures. She urged G20 participants to embrace global initiatives to solve these issues in the future.
Sitharaman also emphasised the value of constructive communication in overcoming the problem of global fragmentation. She asked nations to work together and cooperate more to guarantee a strong and stable global economy.
The declaration by the finance minister comes as the Indian economy is beginning to recover from the COVID-19 pandemic’s effects. Even if the economy of the nation has significantly recovered in recent months, the epidemic still poses obstacles to India’s aspirations for prosperity. Sitharaman’s upbeat assessment of the Indian economy, however, underscores the government’s dedication to enacting regulations that promote equitable and sustainable economic growth.