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22-Mar2019

India one of the fastest growing large economies in the world: IMF

Emphasizing on several key reforms carried out by India in the last five years, the International Monetary Fund (IMF) stated that the country has been one of the fastest growing large economies in the world, with growth averaging about 7% over the past five years. But, it also said that more needs to be done on the reforms front.

IMF said important reforms have been implemented and it feel that more reforms are needed to sustain this high growth, including to harness the demographic dividend opportunity, which India has. Besides, details about the Indian economy would be revealed in the upcoming World Economic Outlook (WEO) survey report to be released by the IMF ahead of the annual spring meeting with the World Bank next month.

The WEO will go into more details. But amongst the policy priorities, it would include accelerate the cleanup of banks and corporate balance sheets, continue fiscal consolidation, both at centre and state levels, and broadly maintain the reform momentum in terms of structural reforms in factor markets, labour, land reforms and further enhancing the business climate to achieve faster and more inclusive growth.


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