India's economic picture brighter: IMF
The IMF in its annual assessment of the Indian economy said the Asian nation's growth will rise to 7.5 percent in 2015/16, driven by stronger investment following improvements to the business climate.
The report said that for continuing on this trend, India needs to revitalize the investment cycle and accelerate structural reforms.
“Growth numbers are now much higher and the current account deficit is comfortable, in part due to the fall in gold imports and lower oil prices,” Paul Cashin, IMF Mission Chief for India, was quoted as saying on IMF website.
“Spillovers from weak global growth and potential global financial market volatility could be disruptive, including from any unexpected developments as the United States begins to raise its interest rates,” says Cashin.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
