India has been one of the world’s fastest growing large economies, according to the International Monetary Fund (IMF), which recently said the country has carried out several key reforms in the last five years. More reforms are needed to sustain this growth and harness the nation’s demographic dividend opportunity, its Communications Director Gerry Rice said.
IMF will release details regarding the country’s economy in the upcoming World Economic Outlook (WEO) report ahead of the annual spring meeting with the World Bank next month, he said. This report would be the first under Indian-American economist Gita Gopinath, who is now IMF’s chief economist, a report quoted.
Among the policy priorities, IMF would include accelerating the clean-up of banks and corporate balance sheets, continuation of fiscal consolidation, both at Centre and State levels, broadly maintenance of 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 added.