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Nirmala Sitharaman to visit Mexico and US from October 17 to October 26

Nirmala Sitharaman to visit Mexico and US from October 17 to October 26

Tue, Oct 15, 2024

Finance Minister Nirmala Sitharaman is scheduled to leave on Tuesday night for an official visit to Mexico and the US, during which she will attend a host of meetings including annual gatherings of the IMF and the World Bank, and the G20 Finance Ministers' meetings with central bank governors. The finance minister will also engage i bilateral meetings with several countries and organisations during this official trip.

IMF pledges continued support for Sri Lanka's economic reforms

IMF pledges continued support for Sri Lanka's economic reforms

Sat, Oct 05, 2024

The International Monetary Fund (IMF) said that it will continue its close engagement with Sri Lanka's economic team to set a date for the third review of the IMF-supported program. An IMF team led by Krishna Srinivasan, director of the Asia Pacific Department, visited Sri Lanka from October 2 to October 4.

Can India become $55 trillion economy by 2027? May appear audacious but achievable, says IMF's Krishnamurthy V Subramanian

Can India become $55 trillion economy by 2027? May appear audacious but achievable, says IMF's Krishnamurthy V Subramanian

Mon, Aug 12, 2024

International Monetary Fund (IMF) Executive Director Krishnamurthy V Subramanian said India's private credit to GDP ratio was 58 per cent in 2020, six decades behind the advanced economies which are now at 200 per cent, though there is phenomenal work being done in terms of financial inclusion through schemes like 'Pradhan Mantri Jan-Dhan Yojana'.

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IMF favours three structural reforms in India

IMF favours three structural reforms in India

Sat, Oct 14, 2017

The IMF has suggested a three- pronged approach for structural reform in India that includes addressing the corporate and banking sector weaknesses, continued fiscal consolidation through revenue measure, and improving the efficiency of labour and product markets.

India should prioritise public banking sector reforms: IMF

India should prioritise public banking sector reforms: IMF

Fri, Oct 13, 2017

The country's growth is expected to accelerate in the medium-term as temporary disruptions due to demonetisation and the Goods and Services Tax (GST) fade, the International Monetary Fund said in its Asia and Pacific Regional Economic Outlook Update.

Demonetisation, GST uncertainties affected India's economic momentum: World Bank

Demonetisation, GST uncertainties affected India's economic momentum: World Bank

Wed, Oct 11, 2017

A slowdown in India's growth rate, the bank said, has also affected the growth rate of South Asia. As a result, South Asia has fallen to second place after East Asia and the Pacific.

IMF downgrades India's growth, but says a blip in much positive long-term

IMF downgrades India's growth, but says a blip in much positive long-term

Wed, Oct 11, 2017

"The downgrade for this year's looks like a blip in a much positive longer-term picture," Maurice Obstfeld, Economic Counsellor and Director of Research Department at IMF.

India loses fastest growing economy rank; IMF slashes 2017 growth rate by 0.5 % to 6.7%

India loses fastest growing economy rank; IMF slashes 2017 growth rate by 0.5 % to 6.7%

Tue, Oct 10, 2017

But according to the report, it is only a temporary setback for India, and it projected India to regain the top spot next year with a 7.4% growth rate for the gross domestic product (GDP) even though that estimate was also down from the 7.7% made in July.

India's foreign exchange reserves surge by over $4 billion

India's foreign exchange reserves surge by over $4 billion

Sat, May 27, 2017

The foreign exchange (Forex) reserves of India have risen by over $4 billion as on May 19 this year.

Indian economy to grow at 7.4% this year, FICCI Survey finds

Indian economy to grow at 7.4% this year, FICCI Survey finds

Mon, May 15, 2017

KEY HIGHLIGHTS: 1. Indian economy to grow between 7% to 7.6% this year. 2. Agricultural sector is estimated to growth at 3.5% in 2017-18 3. Majority of economists surveyed supported Universal Basic Income

India's growth to rebound to 7.2% after demonetisation disruptions: IMF

India's growth to rebound to 7.2% after demonetisation disruptions: IMF

Tue, May 09, 2017

"In India, growth is projected to rebound to 7.2 per cent in FY2017-18 and further to 7.7 per cent in FY2018-19," the IMF said.

Governor Haruhiko Kuroda says Bank of Japan facing ''challenging'' situation amid low inflation

Governor Haruhiko Kuroda says Bank of Japan facing ''challenging'' situation amid low inflation

Sat, May 06, 2017

The Bank of Japan's Governor Haruhiko Kuroda in a recently held seminar has said that the central bank is facing big challenges as inflation holds well below its 2% target, whereby underscoring the importance for the bank to maintain its massive stimulus programme.

GST to help push India's growth above 8%: IMF

GST to help push India's growth above 8%: IMF

Sat, Apr 29, 2017

The IMF estimates of growth rate of various countries could suggest that India will overtake Germany in 2022 as the world's fourth-largest economy and may push Britain out of the top five largest economies.

Disappointed on postponement of quota reforms by IMF: Arun Jaitley

Disappointed on postponement of quota reforms by IMF: Arun Jaitley

Sun, Apr 23, 2017

Given that there is a broad agreement on maintaining the current overall lending capacity of the Fund and that the IMF's existing resource pool is excessively tilted towards borrowed resources, there is a "dire need" for increasing quotas

Trump's tax reform plan to produce some short-term budget issues: US Treasury Secretary

Trump's tax reform plan to produce some short-term budget issues: US Treasury Secretary

Sun, Apr 23, 2017

"We're looking for reforms that will pay for themselves with growth," Mnuchin said. "Under dynamic scoring, this will pay for itself, under static scoring, there'll be short term issues."

Emerging economies account for over 75% of global growth: Arun Jaitley

Emerging economies account for over 75% of global growth: Arun Jaitley

Sat, Apr 22, 2017

The discussion sessions focused on the Compact with Africa, Financial Sector Development and Regulations, International Financial Architecture and Global Financial Governance.

Demonetisation still pulling Indian economy down

Demonetisation still pulling Indian economy down

Thu, Apr 20, 2017

Need to boost financial stability through full recognition of non-performing loans and raising public sector banks’ capital buffers, the rating agency said.

India returned to fiscal consolidation in 2016-17: IMF

India returned to fiscal consolidation in 2016-17: IMF

Wed, Apr 19, 2017

Overhauling India's food and fertiliser subsidy regime through better targeting and efficiency could generate substantial fiscal gains, it said.

IMF trims India's growth forecast to 7.2% for 2017

IMF trims India's growth forecast to 7.2% for 2017

Tue, Apr 18, 2017

The Indian government in February had pegged GDP growth at a higher-than-expected 7.1% for the current fiscal despite the note ban.

US President Donald Trump calls Chinese ''grand champions'' of currency manipulation

US President Donald Trump calls Chinese ''grand champions'' of currency manipulation

Fri, Feb 24, 2017

US President Donald Trump declared China the "grand champions" of currency manipulation on Thursday.

India's GDP projected to slow to 6.6% post-demonetisation: IMF

India's GDP projected to slow to 6.6% post-demonetisation: IMF

Thu, Feb 23, 2017

The investment recovery is expected to remain modest and uneven across sectors, as deleveraging takes place and industrial capacity utilization picks up, the report said.

Prime Minister Narendra Modi says cash crackdown is a fight for the poor

Prime Minister Narendra Modi says cash crackdown is a fight for the poor

Tue, Feb 07, 2017

Prime Minister Narendra Modi on Tuesday defended his decision to abolish high denomination bank notes that has left the economy reeling, calling it a "fight" for the poor.

Here's excerpt of full text of FM Arun Jaitley's Union Budget 2017 speech

Here's excerpt of full text of FM Arun Jaitley's Union Budget 2017 speech

Wed, Feb 01, 2017

Finance Minister Arun Jaitley presented India's Union Budget 2017-18 in the Lok Sabha in New Delhi on Wednesday.

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