Indian Economy on Recovery Path

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Gold Silver Reports — Ahead of the meeting of finance ministers and central bank governors of G20, the IMF said India’s economy is on a recovery path while cautioning that any deceleration in the pace of reforms will weigh on growth.

In a surveillance report released on Thursday, the IMF said lower oil prices, positive policy actions and improved confidence have helped India’s growth prospects. 

It expects the country to grow 7.4% over next two years, even as it said that “headwinds from weaknesses in India’s corporate and bank balance sheets, a decelerating pace of reforms, and sluggish exports will weigh on growth“.

It called on India to improve its quality of fiscal consolidation through a comprehensive tax reform including GST and measures to cut sops. — Neal Bhai Reports