‘India’s star shines bright’, Lagarde tells Advancing Asia summit

With a young workforce and its continuing  commitment to policy reform, India has not only emerged as the world’s fastest-growing economy, but its star also shines bright amid the current global gloom, IMF Managing Director Christine Lagarde said yesterday.
“It’s fitting we meet in India,” she said told delegates on  the opening day of the  Advancing Asia summit in New Delhi. “It is  the world’s fastest growing large economy, on the verge of having its largest, youngest ever workforce –  and, in a decade’s time,  is also set to become the world’s most populous country.
“India stands at a crucial moment in its history, with an unprecedented opportunity for transformation. Important reforms are under way. Think, for example, of ‘Make in India’ and ‘Digital India’. With promise of more reforms to come, India’s star shines bright.”
But she added that many of the world’s poor also lived in India, and she spelt out a 6-point plan to help these and the rest of Asia’s 4.4bn impoverished inhabitants to realise their full potential:
– Broadening access to services like health and finance through steps like Jan Dhan Yojana
– Leveraging fiscal policy impact with instruments like conditional cash transfer programs
– Empowering women with access to education, dismantling barriers
– Providing amenities like water, sanitation and electricity, with better infrastructure
– Greater global trade integration for more sustained growth
– Tackling the challenge of climate change

Source: indiatimes