Despite projected growth of over 6% India concerned about global economic outlook, says Nirmala Sitharaman

Despite projected growth of over 6% India concerned about global economic outlook, says Nirmala Sitharaman

The recent turbulence in the banking sector in some advanced economies has further increased the challenges to global economic recovery and increased fiscal pressures, especially on EMDEs and LDCs, she said at the 107th meeting of the Development Committee during the annual meeting of the International Monetary Fund (IMF) and the World Bank.

AgenciesUpdated: Thursday, April 13, 2023, 08:56 AM IST
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India wants WTO to be more progressive, more listening to other countries: FM Sitharaman |

Union Finance Minister Nirmala Sitharaman said that despite this year's projected growth rate of over 6 per cent for the Indian economy, it remains concerned about the global economic outlook and geopolitical environment.

She made the remarks on Wednesday while attending the Development Committee meeting of the World Bank-IMF Spring Meeting 2023 in Washington D.C.

World Free of Poverty

Sitharaman mentioned that the World Bank should continue to work for its vision of a 'World Free of Poverty' and achieve its mission of 'ending extreme poverty' and 'promoting shared prosperity' in a manner that is inclusive, resilient and sustainable.

During her intervention, Sitharaman suggested that the global public goods should also be brought into the focus as the third goal.

The Finance Minister further mentioned that the "Evolution of the World Bank Group - A Report to Governors" provides a historic opportunity to think collectively on the evolution of the World Bank Group.

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