IMF suggests India three steps to sustain high growth rate
Updated : June 29, 2018 08:28 AM IST
To sustain the high growth rate India has achieved, the country should carry out banking sector reforms; continue with fiscal consolidation, simplify and streamline GST and renew impetus on reforms, the International Monetary Fund (IMF) said on Friday.
India's growth accelerated to 7.7 percent in the fourth quarter of Financial Year (FY) 2017-18. That was up from 7 percent in the previous quarter.
"We expect the recovery to continue in FY 2018-19. Growth is projected at 7.4 per cent in FY 2018-19 and actually 7.8 percent in FY 19-20, respectively," IMF Communications Director Gerry Rice told reporters at his fortnightly news conference.