In the new GDP calculation method, the CSO shifted the base year from 2004-05 to 2011-12.
Pessimists on Indian growth will have to look for pastures other than the new GDP data
India needs to tackle land acquisition issues to live up to the expectations of being the ‘new bright spot’ in Asia, said IMF.
The IMF Managing Director’s Global Policy Agenda (GPA) document released on Thursday said there is a need for countries including India to accelerate structural reforms to lift growth potential and ensure inclusiveness.
But let’s hold the celebrations. We need to take IMF, World Bank projections with a pinch of perspective.
IMF cautioned against investors being surprised by the timing of the rate hike by the US Fed and the consequent market tensions.
Greece is in difficult negotiations with creditors over its bailout programme.
“For Asia, the process of China’s liberalisation is very important,” says John Lipsky.
In the long run, holding out against IMF quota reforms does not serve US interests.
“Emerging markets need to prepare in advance to deal with this uncertainty,” she said.
The issue was raised by Prime Minister Narendra Modi and finance minister Arun Jaitley at their meetings with Lagarde.
Last week, the IMF said in an annual report that India’s economy is recovering.
IMF Asia and Pacific Department Director Changyong Rhee will also join the mission to meet with senior officials.
The meet comes as Greece casts a new shadow over Europe while cheap oil plays havoc with inflation.
The quarter remained weak in terms of revenue growth for companies across various sectors.