At a Glance - India and the IMF

For IMF's Governor of India, quota and voting rights, please visit www.imf.org/external/np/sec/memdir/members.htm.

For the International Monetary Fund in India and the president of a constituency, please visit www.imf.org/external/np/sec/memdir/eds.htm.

On August 20, 1994, India undertook the obligation under Article 8 of Article 8 of the International Monetary Fund Agreement on the Reconciliation of Current Accounts.

India supports IMF's special data distribution standards. Countries in this group are committed to complying with the standards and providing information on their data and data dissemination practices.

India does not regularly use the resources of the International Monetary Fund, but the IMF's credit has played an important role in supporting India to respond twice to the new balance of payments issue twice. In 1981-82, India borrowed 9 billion SDR from the extended fund facility. This is the biggest arrangement in the history of the International Monetary Fund. Between 1991 and 1993 India borrowed a total of 2 billion SDR under two alternative plans and in 1991 borrowed 4 billion SDR under a compensatory funding mechanism. Please refer to http://www.imf.org/external/ for details on India's financial condition in the Fund.

In recent years, funds provide technical assistance to India in several areas, such as the development of government securities markets, reform of foreign exchange markets, public expenditure management, taxation and tariff management, strengthening statistical systems related to special reports I did it. Data distribution standard Since 1981, the International Monetary Fund Research Institute has provided Indian officials with national accounts calculation, tax administration, balance of payments compilation, monetary policy and other training areas.

After that India has become one of the most common borrowers of the International Monetary Fund. From the establishment of the International Monetary Fund to March 31, 1971, India purchased foreign currency equivalent to rupees. The 815.7 billion rupees from the International Monetary Fund have also been fully repaid. Recently, since 1970, India has received more aid from other Member States of the International Monetary Fund through the establishment of Special Drawing Rights (SDR). India can borrow funds from the fund after the prices of imports, food, fuel and fertilizer have sharply increased. Total rupee. As of the end of August 1975, when the second petroleum facility extracted rupees, it had already drawn 75.38 billion rupees. There was 20.7 billion rupees. In November 1981, India received a major loan of about Rs. $ 500 billion international support to overcome the international currency crisis due to the international shortage of the current account balance

In the independent era, India was only 3% of the world's gross domestic product (GDP). In other words, it was about 2.7 billion rupees. In 2017, India accounted for 8.5% of the WGDP (originating IMF), or about 13.5 billion rupees. This year's Indian gross domestic product (GDP) exceeds the former colonial ruler who built the world's largest economy in 1700 in 1700. Now India has increased WGDP growth rate by 17%, which is considerable economic power. More importantly, internal resources make up the bulk of this growth. The savings rate has risen from the current 8% to the current 31%, and it is still rising despite the recent recession.

The International Monetary Fund has confirmed the occurrence of economic growth in India and has lowered India's growth forecast from 2% to 7%. In so many words, the International Monetary Fund condemned the responsibility for "destruction" caused by devilization and unstable implementation of commercialization and service tax. The report of the International Monetary Fund entitled "World Economic Outlook" also reduced the Indian growth rate forecast for the period from 2018 to 19 by 30 basis points. We also raised the growth rate forecast of the Chinese economy to 8% and made India ahead of India. Recent CMIE articles have also revealed that the unemployment rate in urban areas rose to 2%. This ratio is the best in the last 11 months. It is worth noting that this figure only reflects the unemployment rate of cities and organizational units. Who knows the status of countless unemployed people working in departments living or not organized in rural areas? Government efforts to support unemployed have achieved only limited results.