With the government deciding Tuesday to increase its contribution to the International Mone-tary Fund, India will become the eighth-largest shareholder in the multilateral agency. The decision came after the IMF’s 14th general review of quotas.
Information and broadcasting minister Ambika Soni said after Tuesday’s Cabinet meeting that “India’s quota share at the IMF will increase from 2.44 per cent to 2.75 per cent, making it the eighth largest quota holding country”.
It is, however, significant to note that India’s gain in terms of quota share is the seventh largest in the 14th round quota review. In absolute terms, New Delhi’s quota will increase from SDR (special drawing right) 5,821.5 million to SDR 13,114.4 million.