Reaching the Economic Heights..! India among fastest growing large economies in the world, says IMF

NewsBharati    22-Mar-2019
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New Delhi, March 22: “India has carried out several key reforms in the last five years and more reforms are needed going forward to sustain the high growth, including to harness the demographic dividend opportunity”, said IMF communications director Gerry Rice on Friday lauding India as one of the fastest growing economies in the world.

  
Responding to a question on India's economic development in the last five years at a fortnightly news conference in Washington, Rice continued to say that India has been one of the world's fastest-growing large economies of late, with growth averaging about seven per cent over the past five years.
“The 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”, he informed further. “This report would be the first under Indian American economist Gita Gopinath, who is now IMF's chief economist”, he added.
“The WEO will go into more details. But amongst the policy priorities, we would include accelerate the clean-up 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,” Rice signed off.