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“No reason why India can’t resume 8 or 9% growth,” IMF

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Published on March 13, 2015 with No Comments

Calling for a whole set of structural reforms, the International Monetary Fund has said there is no reason why India could not resume an eight or nine per cent or even higher growth rate in the coming years.
The IMF has at least at this stage pegged a kind of medium-term growth for India at around “7 3/4 per cent if, a lot of the structural reforms can be introduced.”

“There’s certainly no reason why India could not resume 8, 9, even higher growth path going forward, but it will take some time to introduce these measures,” Assistant Director and Mission Chief for India in the IMF’s Asian and Pacific Department, Paul Cashin told reporters.
Cashin also said, “We certainly see India’s near-term growth has improved, and the balance of risks is now more favorable in the economy. Helped by increased political certainty, some good policy actions, and better business confidence.”
“In terms of risks we see the main external risk to India being from a resumption of global financial market volatility.

 

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