NITI Aayog Chief Executive Officer (CEO) BVR Subrahmanyam said that India has overtaken Japan to become the world's fourth-largest economy, citing data by the International Monetary Fund.
A week after the International Monetary Fund (IMF) approved $1 billion for Pakistan under the Extended Fund Facility (EFF), the lending body has imposed 11 new conditions on the country.
India raised concerns over the efficacy of IMF programs in case of Pakistan given its poor track record, and also on the possibility of misuse of debt financing funds for state sponsored cross border terrorism.
Rajnath Singh on Sunday said that Pakistan has asked the International Monetary Fund (IMF) for a seven-billion-dollar bailout package, and PM Narendra Modi has given more than this for the PF package for J&K.
The analysis made some dire predictions for the Pakistan economy saying that it remains extremely fragile and that growth was weighted to the downside.
"Without significant policy changes, the overall fiscal deficits and public debt are projected to stay elevated, and the Maldives remains at high risk of external and overall debt distress", the IMF stated in its report.