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National News

Mar 11, 2018
2:02PM

IMF says Indian economy is on its way to recovery post demonetisation & roll out of GST

The International Monetary Fund (IMF) has said, the Indian economy now seems to be on its way to recovering from disruptions caused by demonetisation and the roll-out of the Goods and Services Tax. 

In an interview to news agency PTI, IMF Deputy Managing Director Tao Zhang said, Indian economy has expanded strongly in recent years, thanks to macro-economic policies that emphasise stability and efforts to tackle supply-side bottlenecks and structural reforms. He said, with the economy expanding by 7.2 per cent in the latest quarter, India has regained the title of the fastest-growing major economy. 

Mr Zhang also underscored the significance of reforms in other key sectors like education, health and improving the efficiency of the banking and financial systems. He said, this would support durable and inclusive growth and enable India to move toward the income levels of wealthier countries. Mr Zhang will be on a two-nation visit to India and Bhutan from tomorrow.

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