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India unlikely to maintain same speed of major economic reforms in election year: IMF
Apr-20-2018

Expressing need for more reform measures in the banking sector or in other sectors, International Monetary Fund (IMF) Chief Christine Lagarde has said that India is unlikely to carry on same speed of major economic reforms in an election year. However, she noted that the country has started to implement major reforms that the IMF had recommended and advocated for a long time.

Lagarde further appreciated the recently implemented reform measures such as Goods and Service Tax (GST) and the bankruptcy law, highlighting that they are good reforms. She also said that these reforms will help the country to reap the benefit of the upswing, continue to develop its internal markets and generate this excellent growth rate of 7.4 per cent, which is one of the highest in the emerging market economies.

Few days before, acknowledging structural reforms undertaken by the government in recent years, the IMF in its latest World Economic Outlook (WEO) had maintained its forecast for India’s gross domestic product (GDP) growth at 7.4 per cent for 2018 and 7.8 per cent for 2019.

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