The government on Tuesday said the International Monetary Fund had expressed concern about sustainability of India's fiscal situation and debt position.
In a written reply, Minister of State for Finance and Company Affairs Anand Rao V Adsul informed the Rajya Sabha that the IMF was concerned about India's fiscal deficit but had also highlighted the improvement in poverty, low inflation, substantial reduction in external vulnerability and progress in strengthening the financial sector.
Adsul said as per the estimates of Central Statistical Organisation, GDP grew by 6 per cent during the first quarter of 2002-03, as against 3.5 per cent during the corresponding period in the previous year. RBI has projected the GDP growth for 2002-03 in the range of 5 per cent to 5.5 per cent.
The Government has been pursuing a six-pronged strategy, as mentioned in budget 2002-03, which include continuation of agricultural and food economy reforms, enhancement of public and capital markets, deepening structural reforms and regenerating industrial growth.
UNI
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