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Indian economy on 'very solid track': IMF chief Lagarde

Fireurimagination

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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.

https://timesofindia.indiatimes.com...ck-imf-chief-lagarde/articleshow/61087189.cms

Damn Sanghi IMF
 

jetray

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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.

https://timesofindia.indiatimes.com...ck-imf-chief-lagarde/articleshow/61087189.cms

Damn Sanghi IMF
that is going to disappoint a lot of ppl :D.
wat amuses me is the ppl who let congress run riot now question the current govt about its performance on economy. Most of their views are politically jaundiced and end up looking at the economic affairs in the same manner.
 

pothead

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Meh...What does IMF know.

After all Manmohan has given his certificate and that's enough for seculars.
 

jaunty

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I am not an economist but I humbly disagree with her. And before you Modi bhakts get your panties in a twist this is not a criticism of the current govt. DeMo and poor implementation of GST have caused a temporary setback and I have no doubt that we'll slowly recover from this. I have said as much before. But I feel we're in a much deeper crisis than that. If we are to remain in the current low-middle income trap it's ok but to achieve fast and effective growth we need urgent policy overhaul and proper planning. I am not an expert, and I don't know how to achieve that but our chances of climbing up the development ladder with a young population are slowly slipping away. In a couple of decades that demographic dividend would be gone.
 

Soumitra

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I am not an economist but I humbly disagree with her. And before you Modi bhakts get your panties in a twist this is not a criticism of the current govt. DeMo and poor implementation of GST have caused a temporary setback and I have no doubt that we'll slowly recover from this. I have said as much before. But I feel we're in a much deeper crisis than that. If we are to remain in the current low-middle income trap it's ok but to achieve fast and effective growth we need urgent policy overhaul and proper planning. I am not an expert, and I don't know how to achieve that but our chances of climbing up the development ladder with a young population are slowly slipping away. In a couple of decades that demographic dividend would be gone.
1 you are not an economist but you are disagreeing with one of the top economist just because she said something positive about India and its Govt
2 Demo and GST has done a TEMPORARY setback to economy - Even every "Bhakt" believes it so what is new that you are saying
3 You "feel" that we are in deep crisis but you "dont have any solution". Basically you are like a ruthe hue phuphaji in a wedding who does not know anything but will critisize everything just to show your importance

I humbly suggest do not go by the "Mahaul" created by the leftist liberals whose bread is not being buttered so they are running like headless chickens. Let the govt do its job. A disruptive innovation takes time but there is a short term pain for a long term gain.

The simple fact is GST Haai Tauba is mostly been done by those businesses who never paid taxes and who operated without bills and invoices just on chits of paper "Kaccha Bill" Many of them did not have something as basic as a PAN Card let alone Sales Tax, VAT, Service Tax etc registration. You and I cant get our salary if we do not have a PAN Card and these people were running businesses for years without a PAN Card
 

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