PM Modi's 'Aatmanirbhar Bharat' important initiative: IMF
Washington: Prime Minister Narendra Modi's call for an "Aatmanirbhar Bharat" (self-reliant India) is an important initiative, the International Monetary Fund (IMF) said on Thursday.
"The economic package under this self-reliant India initiative, which was announced in the aftermath of the coronavirus shock, has supported the Indian economy and mitigated significant downside risks, so we do see that initiative as having been important," Gerry Rice, Director, Communications Department, IMF, told reporters at his fortnightly news conference here.
Looking ahead, as the prime minister has said, for India to play a more important part in the global economy, pursuing policies that stimulate by improving the efficiency and competitiveness of the economy is critical, he said, responding to a question on Modi's call for an "Aatmanirbhar Bharat".
"To achieve the stated 'Make For The World' goal in India, the priority is to remain focussed on policies that can help further integrate India in the global value chain, including through trade, investment and technology," Rice said.
Responding to another question, he said the IMF's joint study with the NITI Aayog and the Ministry of Finance shows that to achieve a high performance in health-related sustainable development goals, India would need to gradually increase its total spending in the healthcare sector from the current 3.7 per cent of the GDP.
"More generally, beyond the health sector, comprehensive structural reforms are needed to achieve more inclusive and sustainable medium-term growth.
"We have talked about those reforms before -- infrastructure, land reforms, product market and labour market reforms, increasing female labour force participation, access to finance and better jobs," Rice said.
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Commercial LPG price hiked by Rs 993 per 19-kg cylinder
New Delhi (PTI): The price of commercial LPG was hiked by the steepest ever Rs 993 per 19-kg cylinder on Friday, marking the third straight monthly increase due to rising global energy prices linked to the West Asia conflict.
A 19-kg commercial LPG - used by establishments such as hotels and restaurtants - now costs a record Rs 3,071.5 in Delhi as against Rs 2,078.50 previously.
Rates were last increased by 195.50 per cylinder on April 1. Prior to that, prices had gone up by Rs 114.5 per 19-kg cylinder on March 1.
In three increases, commercial LPG rates have gone up by Rs 1,303.
Prices of domestic cooking gas LPG - the one used in household kitchens - remained unchanged. Domestic LPG rates were last hiked by Rs 60 per 14.2-kg cylinder on March 7. It costs Rs 913 per 14.2-kg cylinder in Delhi.
State-owned Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum revise ATF and LPG prices on the first day of every month based on international benchmarks and the exchange rate.
Global oil prices have shot up almost 50 per cent after the war in West Asia disrupted energy supply chains.
Petrol and diesel prices continue to remain frozen after a Rs 2 per-litre reduction in March last year; petrol currently costs Rs 94.72 per litre in Delhi and diesel Rs 87.62.
