Economics
India's Economy Is Elephant That's Starting to Run, IMF Says
- Monetary policy needs further tightening as prices rise
- Flags risks from higher oil prices, lower tax mop-up
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India is on track to hold its position as one of the world’s fastest-growing economies as reforms start to pay off, according to the International Monetary Fund.
The $2.6 trillion economy was described by Ranil Salgado, the IMF’s mission chief for India, as an elephant starting to run, with growth forecast at 7.3 percent in the fiscal year through March 2019 and 7.5 percent in the year after that. The nation accounts for about 15 percent of global growth, according to the Washington-based fund.