IMF lauds PM Modi's Aatmanirbhar Bharat misison, says 'it has supported Indian economy'

Lauding Prime Minister Narendra Modi's 'Aatmanirbhar Bharat' campaign, International Monetary Fund (IMF) Director, Communications Department, Gerry Rice called it a very important initiative. As per news ncy PTI, Gerry Rice told reporters that ecomic pack anunced under this self-reliant initiative has supported Indian ecomy and mitigated significant downside risks. He furr said that if India wants to realise its 'Make For World' mission n priority should be to remain focussed on policies that can help furr integrate country in global value chain, including through trade, investment and techlogy.

“ ecomic pack under this self-reliant India initiative, which was anunced in aftermath of coronavirus shock, has supported Indian ecomy and mitigated significant downside risks, so we do see that initiative as having been important.”

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Gerry Rice: 'Aatmanirbhar Bharat initiative is important'

Gerry Rice said that se measures will also aid in India's ecomic recovery. In order to ensure proper and sustainable growth of ecomy, comprehensive structural reforms including land, product market and labour market are required. While answering ar question, Rice said that IMF's joint study with NITI Aayog and Ministry of Finance reveals that India will have to increase its spending in healthcare sector to achieve a high-performance along with sustainable development goals in health sector. Currently, India spends 3.7 per cent of total GDP in healthcare sector. 

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PM Modi's Aatmanirbhar Bharat Mission 

Narendra Modi had launched Aatmanirbhar Bharat mission to give a much-needed boost to Indian ecomy amid COVID-19 pandemic. Atmnirbhar Bharat mission complements "Make In India' initiative as well which plans to boost manufacturing in India along with country's agricultural sector. Recently, Parliament also passes three agricultural reform bills to make to farmers of country financially secure and independent. Amid COVID-19 across world, India has also helped many countries to battle against pandemic by supplying PPE Kits, mask, Hydroxychloroquine and more. Aatmanirbhar Bharat mission is divided into five phases and y are as follows: 

• Phase-I: Businesses including MSMEs
• Phase-II: Poor, including migrants and farmers
• Phase-III: Agriculture
• Phase-IV: New Horizons of Growth
• Phase-V: Government Reforms and Enablers

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(With ncy inputs; Im: PTI)