India's growth under PM Modi has been solid: IMF chief economist
Washington, Jan 27 (IBNS): International Monetary Fund (IMF)’s Chief Economist Maurice Obstfeld on Sunday said India's growth under the government of Prime Minister Narendra Modi has been "solid."
He praised the government's fundamental economic reforms like the GST and the Insolvency and Bankruptcy Code.
“India under the government of Prime Minister Narendra Modi has carried out some really fundamental reforms. These include the Goods and Services Tax (GST), the Insolvency and Bankruptcy Code...A lot of what they have done on financial inclusion has been really important," Obstfeld told media.
He said the country’s “growth performance has been very solid".
“I mean, not so much in the third quarter of this year, but generally it has been quite solid," he said.
“There are important vulnerabilities, so it is important for the reform momentum to be maintained even as an election comes up and for the path of fiscal adjustment to be maintained," Obstfeld added.
“There is a big challenge of stricter, oversight," the IMF chief economist said.
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