IMF's Rato on prospering in a globalized economy

In a speech on 'Prospering in a globalized economy' given on 17 March, Rodrigo Rato of the International Monetary Fund said India is now, more than ever, a focus for international investors, who are eager to take part in a new India.

The IMF chief said public investment in India was low compared with much of Asia. "Interest payments, wages and subsidies take up nearly half of all central government spending leaving little room for much needed public investment and basic social services

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