India worked on fundamentals but certain problems need to be addressed: IMF


PTI, Oct 18, 2019, 9:28 AM IST

Washington: The International Monetary Fund on Thursday said though India has worked on the fundamentals of its economy, there are problems, including long-term drivers of growth that needs to be addressed.

The IMF on Tuesday trimmed India’s growth forecast by 90 basic points to 6.1 per cent. This is second downward revision in seven months and in total 120 basis points reduction. 100 basis points is equal to one percentage point.

“India has worked on the fundamentals (of its economy), but there are problems to be addressed. In the financial sector, especially non-banking institutions, there are steps taken now to consolidate banks. They ought to help resolve some of these issues,” IMF Managing Director Kristalina Georgieva told reporters at a news conference in Washington DC.

“In India, what is critically important is to continue with addressing the long-term drivers of growth. Investment in human capital in India is a top priority. It has to continue bringing women in the labour force. It is very important. India has very talented women, but they stay at home,” she said.

Kristalina Georgieva said there has been “a very strong growth” in India over the last years and the IMF is projecting reasonably strong growth for the country.

However, “like the rest of the world, India is experiencing a slowdown. So slightly over six per cent is what we expect to see in 2019”, she said.

“Structural reforms are priority for India. We expect to see those reforms continue,” Kristalina Georgieva said in response to a question.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

IMD predicts light rains at Red Fort on I-Day morning

‎Flag to be hoisted at Idgah Maidan for the first time: Araga Jnanendra‎

We’ll provide more facilities to North K’taka people in B’luru soon: CM Bommai

Over one crore cases settled in National Lok Adalat in a day: NALSA

UP’s ‘village of soldiers’ gears up to celebrate Independence Day

Many scientific concepts branded as western contributions had origin in India: RGCB chief

Bantwal DySP Pratap Thorat awarded Preisdent’s Police Medal 2022 for outstanding service


Related Articles More

High oil prices help Saudi Aramco earn $88B in first half

Jhunjhunwala: The RARE big bull; unabashed wealth creator sans big scam shadow

Finmin plans to review exemption-free tax regime to make it more attractive

LIC keen to re-enter mediclaim segment, awaiting regulatory clarity: Chairman

Ace stock market investor Rakesh Jhunjhunwala passes away at 62

MUST WATCH

NEWS BULLETIN 14-08-2022

Relief sculpture at Ammai School Compaound

| KABBINALE | Mysterious Waterfall Of Hebri

Shri Araga Gyanendra addressed the gathering. |udayavaninews

News bulletin 13-8-2022


Latest Additions

IMD predicts light rains at Red Fort on I-Day morning

‎Flag to be hoisted at Idgah Maidan for the first time: Araga Jnanendra‎

Royal London Cup One Day: Cheteshwar Pujara smashes career-best 174 for Sussex vs Surrey

We’ll provide more facilities to North K’taka people in B’luru soon: CM Bommai

Over one crore cases settled in National Lok Adalat in a day: NALSA

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.