Indian economy on 'very solid track': IMF chief Lagarde
WASHINGTON: Days after the International Monetary Fund lowered its growth forecast for the current and the next year, IMF chief Christine Lagarde on Saturday said the Indian economy is on a "very solid track" in the mid-term.
"We have slightly downgraded India, but believe that the country is for the medium and long-term on a growth track that is much more solid as a result of the structural reforms that have been conducted in the last couple of years," the IMF Managing Director Lagarde said.
Describing the two major recent reforms in India - demonetisation and Goods and Services Tax (GST) - as monumental efforts, Lagarde said it is hardly surprising that there "is a little bit of a short-term slowdown" as a result.
"But for the medium term, we see a very solid track ahead for the Indian economy," she said to a question on India.
"We very much hope that the combination of fiscal, because the deficit has been reduced, inflation has been down significantly, and the structural reforms will actually deliver the jobs that the Indian population, particularly the young Indian people expect in the future," Lagarde said.
Ajay-4 hours ago
Congress can say that IMF and World Bank are acting under supervision of Narender Modi, Stop Criticising all the moves of Modi Government he is a good man.
Narender Modi itself is a very honest man no corruption charges against him he is secular or not that is debatable but he is not currupt.
Keshava Murthy-4 hours ago
Where are all those bloody IDIOTS who were recently har, barking and complaining about our country economy??
Think about it-USA-4 hours ago
Where is Pappu and Sickulars now? is IMF chief also a Modi bhakt?
Vivek Haldar-Mumbai-22 hours ago
Is this some kind of PR campaign of IMF and WB to save Modi Ji''s face and their money which they have invested in India? Who knows? ;)
Neil Martin-21 hours ago
She is French and she has just confirmed solid defence deals between India and France with just a statement ...do you think India will ever scuttle the Dassault and possibly other deals in the pipeline?
Amir-23 hours ago
this lady is lobbied well... before election such comments.... monumental disaster....people are losing jobs and no alternatives...mostly they are unskilled...by the time u skill them they LL die of starvation...
Sanjay Thakur-22 hours ago
Tight slap on the face of Corrupt Congress and unemployed BJP traitors.
Avinash Kumar-22 hours ago
Indian express and other newspaper did not even publish it..its high time to ignore many newspapers....
Subrat Kumar Nayak-Bhubaneswar, India-1 day ago
People should realise the fact that India is now on a growth path after 70 yrs of independence. All should stop believing the politicians who played with our tax and blocked the country''s progress for which we are seeing the pathetic condition today..Great work by the present govt .