INDIA'S MACROECONOMY SOUND, FISCALLY DISCIPLINED

The overall macroeconomic environment in India is pretty sound”, it is fiscally disciplined and the central bank moved fast to bring inflation under control, said the International Monetary Fund IMF).

The International Monetary Fund (IMF) affirmed that India’s macroeconomic landscape is robust, characterized by fiscal discipline and a prompt response from the central bank to curb inflation, describing it as “pretty sound.”

The International Monetary Fund (IMF) commended India’s macroeconomic stability, highlighting its fiscal discipline and swift measures by the central bank to manage inflation, describing the overall environment as “pretty sound.” The IMF acknowledged India’s commitment to fiscal discipline, projecting a fiscal rate of 5.9 per cent for the current year.

Krishna Srinivasan, Director of the Asia and Pacific Department at the IMF, stated that the central bank acted swiftly to mitigate inflation, with the latest data indicating a 5 percent rate for September. As a result, inflation is on a downward trajectory, contributing to India’s overall robust macroeconomic environment. Srinivasan shared these insights during a press briefing on the ‘Asia and Pacific Region’s Economic Outlook.’

Responding to a query regarding necessary policy actions for stimulating growth in India, he emphasized the country’s considerable potential and advocated for strategic structural reforms.