Indian economy on solid track

Christine Lagarde the International Monetary Fund chief said that the Indian economy was on a solid track after the IMF lowered its growth forecast for this year and the next. She said that demonetisation and Goods and Services Tax were two major reforms and that accounted for a little short-term slowdown.

She said that although they have slightly downgraded India, she believed that it is on a solid growth track after the structural reforms conducted in the last couple of years. She hoped that the combination of fiscal deficit and structural reforms would work well and deliver good results to the Indian youth in future.