International Monetary Fund (IMF) MD Cristalina Giorgia has praised India fiercely. He said that India has emerged as a ray of light in the darkness. Even in these difficult times, the way India has managed its growth through structural reforms is commendable. On the other hand, IMF Chief Economist Pierre Oliver Gorinches praised digitization and said that this step is going to bring a big change.
He said that earlier India’s large population was not connected with the banking system but due to digitization people have joined the banks. People have started transacting easily. With this system, the Government of India is able to do many such tasks easily, which used to be difficult at one time. He said, India’s steps are commendable and they have a big role in taking the market towards change.
He said that India has emerged like a ray of light when the world is grappling with the fear of recession. He said that India still needs more structural reforms as there is no dearth of possibilities here. It is a big deal to keep moving towards development even in this time of challenge.
He described Direct Benefit Transfer as a miracle and said that it is a very big task to benefit people so easily in such a large population. He said that India is using technology very well and it is moving fast towards modernization.